Hi Jensen,
Firstly, you have stumbled across a typo in the Course Notes. We're sorry for this confusion and we'll post a correction on our website. The heading for this table should state "Cumulative payments up to 31/12/10 " and "Case estimates as at 31/12/10 ".
There were 21,700 claims reported in 2006. In respect of these claims, some amounts will have been paid in 2006, some will have been paid in 2007 ... and some will have been paid in 2010.
In total, over each of the five years (2006-2010) the amount paid in respect of these claims is 15,965. This is what we mean by "cumulative", ie the total of the amounts paid in each calendar year.
The 2010 figure of 6,600 is the amount paid in 2010 for claims notified in 2010. In this case, the cumulative amount is the same as the incremental amount, because there is only one year to consider.
Kind regards,
Katherine.
Last edited: Aug 15, 2011
