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Source:
Thomas Mack

Claims Reserving Manual, vol.2: Section D6: Measuring the variability of chain ladder reserve estimates. Spreadsheet

A 3257 Diagnostic checks of the assumptions of the distribution-free approach Diagnostic checks of the assumptions of the distribution-free ... read more >>

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Claims Reserving Manual, vol.2: Section B: Description of stochastic models

Section 2B of the Supplementary Introduction to Volume 1 gives a general description of reserving methodology. In that description, the process of arriving at an estimate of future payments is described as one of constructing a model, fitting it to some ... read more >>

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Claims Reserving Manual, vol.2: Section E: Precis of other actuarial papers

Negative incremental claims: chain ladder and linear models, by Richard J Verrall and Z Li A state space representation of the chain ladder linear model, by Richard J Verrall Probabilistic development factor models with applications to loss reserve ... read more >>

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Author:
Benjamin Zehnwirth

Claims Reserving Manual, vol.2: Section D1: The chain ladder technique - a stochastic model

The chain ladder technique (equivalently, age-to-age development factors) is one of the oldest actuarial techniques to be applied widely for estimating loss reserves. The technique appears intuitively natural and only until more recently was always ... read more >>

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Claims Reserving Manual, vol.1: Section K: Miscellaneous topics

Average cost reserving systems; Reserves for re-opened claims; Re-opened claims - Balcarek's method; Claims expense - indirect type; Claims expense - direct type Faculty and Institute of Actuaries Claims Reserving Manual v.1 (09/1997) Section K Section ... read more >>

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Claims Reserving Manual, vol.1: Contents

Faculty and Institute of Actuaries Claims Reserving Manual v.1 (09/1997) Contents. CLAIMS RESERVING MANUAL CONTENTS INTRODUCTION (1989) Section 1 1997 Update of Manual Section 2 Introduction to Reserving A Description of Claim Process B Reserving ... read more >>

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Claims Reserving Manual, vol.2: Section A: Introduction

Faculty and Institute of Actuaries Claims Reserving Manual v.2 (09/1997) Section A Section A INTRODUCTION Volume 2 of the Claims Reserving Manual was first published in 1989 by the Institute of Actuaries. At that time, Volume 2 consisted of five papers ... read more >>

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Author:
Stravros Christofides

Claims Reserving Manual, vol.2: Section D5: Regression models based on log-incremental payments

The first article in Volume 2 of this Manual by B Zehnwirth has shown the close connection between the intuitive Chain Ladder technique and the more formal two way analysis of variance model based on the log-incremental payments. Faculty and Institute of ... read more >>

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Claims Reserving Manual, vol.1: Introduction

Faculty and Institute of Actuaries Claims Reserving Manual v.1 (09/1997) Introduction. INTRODUCTION (1989) The Institute of Actuaries has prepared and published this Claims Reserving Manual in the hope that it will help both actuaries and others ... read more >>

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Author:
Thomas Mack

Claims Reserving Manual, vol.2: Section D6: Measuring the variability of chain ladder reserve estimates

The variability of chain ladder reserve estimates is quantified without assuming any specific claims amount distribution function. This is done by establishing a formula for the so-called standard error which is an estimate for the standard deviation of ... read more >>

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Claims Reserving Manual, vol.1: Section J: Dealing with inflation

Inflation - general considerations; Inflation adjusted claims projection; Bennett and Taylor - Method A; The Separation method Faculty and Institute of Actuaries Claims Reserving Manual v.1 (09/1997) Section J Section J DEALING WITH INFLATION Preamble How ... read more >>

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Claims Reserving Manual, vol.2: Section F: Computerised illustration of volume 2 papers

Faculty and Institute of Actuaries Claims Reserving Manual v 2 (09/1997) Section F Section F COMPUTERISED ILLUSTRATION OF VOLUME 2 PAPERS Accompanying this revision of the Claims Reserving Manual is a disk illustrating the application of two of the ... read more >>

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Author:
Sidney Benjamin; Lawrence M Eagles

Claims Reserving Manual, vol.2: Section D3: A curve fitting method and a regression method

This method models the run-off triangle row-by-row and then ties the rows together. Each row, or year of account, is modelled by a Weibull distribution function. This model was suggested by D H Craighead, and so the Weibull distribution function has become ... read more >>

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Claims Reserving Manual, vol.1: Section I: Methods for IBNR

IBNR means "Incurred but not reported". The term refers to claims not yet known to the insurer, but for which a liability is believed to exist at the reserving date. That is simple enough in itself, but the four letters contain a wealth of meaning, and of ... read more >>

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Claims Reserving Manual, vol.2: Section D: Papers of more advanced methods

Faculty and Institute of Actuaries Claims Reserving Manual v.2 (09/1997) Section D Section D PAPERS OF MORE ADVANCED METHODS This Section includes the full text of seven papers, covering more advanced reserving methods than those dealt with in Volume 1. ... read more >>

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Author:
D H Reid

Claims Reserving Manual, vol.2: Section D4: Reid's method

This is a description of a reserving method first proposed by D K Reid (1978) and subsequently developed in a series of papers (Reference 1 to 3). It is a very powerful method of most relevance in direct business where data is available subdivided by claim ... read more >>

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Claims Reserving Manual, vol.1: Section C: Company and external influences

If we lived in a world where nature and human activity were well behaved and gave no cause for upset or surprise, then claims reserving would be a simple matter scarcely requiring the services of the expert. One would need to assess the values of at most ... read more >>

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Claims Reserving Manual, vol.1: Section L: Actuarial considerations

Actuarial methods have for a long time been at the heart of life assurance, providing the essential discipline and long-term financial control. But in the last three decades, it has been increasingly realised in the UK that actuarial methods have an ... read more >>

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Claims Reserving Manual, vol.1: Section H: Methods based on claim numbers and average cost per claim

Paid historic claims projection; Number settled and number reported; Incurred average claims projection; Risk exposure and claim frequency; Correspondence of claim numbers and claim amounts Faculty and Institute of Actuaries Claims Reserving Manual ... read more >>