CAS Exam 5 Fall 2013, Question 16
Study guide: Exam 5
Given the following information:
Reported Claim Counts (excluding closed with no payment)
| Accident Year | 12 Months | 24 Months | 36 Months |
|---|---|---|---|
| 2010 | 291 | 274 | 273 |
| 2011 | 301 | 289 | |
| 2012 | 254 |
Reported Claims ($000)
| Accident Year | 12 Months | 24 Months | 36 Months |
|---|---|---|---|
| 2010 | $11,058 | $12,330 | $12,375 |
| 2011 | $11,739 | $13,005 | |
| 2012 | $13,970 |
Assume no further development after 36 months.
Using a frequency-severity technique, estimate the IBNR for all accident years.
Part a (2 points)
Answer this question and see the worked solution