Here I was unsure if paid and outstanding of incurred claims were incremental or cumulative for calculating the development factors. If we are not told, do we assume we are given cumulative data or how would we know from the triangles given? Thanks Leala
The clue is in the heading for each triangle, as it says to date, which means it must be cumulative (or as at the latest date, for the outstanding triangle). Hopefully the question should make it clear whether you're looking at cumulative or incremental claims. Look for words like 'to date' or 'in the year', for example.
