CasulatyASst questions

CasulatyASst questions - AS 4426F Assignment Questions on...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
AS 4426F Assignment Questions on Property/Casualty Insurance Ratemaking October 2008 Each of the 10 question parts is worth the same number of marks. 1. (a) Explain in detail what is meant by case-incurred loss development and accident year age . (b) Why do case-incurred losses tend to increase with accident year age? Why is the case-incurred losses value not necessarily a monotone increasing function of accident year age. 2. You are given the following information for a ratemaking calculation: Calendar Earned Trended, Projected Year Premium ($) Incurred Losses ($) 2003 1,000,000 800,000 2004 1,200,000 900,000 2005 1,500,000 1,300,000 EFective Rate per Date Exposure Unit ($) Jan. 1, 2000 200 Jul. 1, 2002 220 Sep. 1, 2004 231 The company anticipates fixed expenses of $30 per exposure unit and variable expenses of 10 % of premium. Also, the company wishes to allow 5% of premium for profit and contingencies. (a) Calculate the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This document was uploaded on 11/25/2010.

Page1 / 2

CasulatyASst questions - AS 4426F Assignment Questions on...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online