keshav1996
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Ohh right! I got it. Thank you so much..
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Thank you Graham. That's a clear enough explanation.
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So, won't it create inconsistency with the following rule we use for trending premiums- https://www.battleactsmain.ca/battleacts5.ca/forum5/uploads/190/UBKRSSKTW7PS.png I took this from the Wiki article from the chapter on Premiums
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Hi, I have understood it after reading the chapter on Credibility. Thanks
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I get that incrementally the expense reduction % stays the same in column 9, as taxes and profit are constant, but then why do we need column 10? That is my main question - why do we need to divide column 9 percentages by (1- tax% - profit%) ?
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Just a small follow up query. Going by your logic, wouldn't it be correct to conclude that these monthly time periods you selected in the spreadsheet instead of a year and the assumption that policies are written in the middle of each month are esse…
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For example, in Spring 2014, Q18, The examiners' report said that the candidate can apply FS disposal rate method on the basis of the following reasons: Cumulative avg paid severity (2%) is consistent and stable across years. Closed to reported coun…
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Hi, I guess there's a misprint in the wiki article under the section on switching from "Occurrence to CM policy". The retroactive date for second, third and fourth year CM policy should be the same as for first year CM policy i.e 1st Jan, …
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Hi, In the lifetime value analysis section, there are two questions- I'm confused with the trend periods. For example, why is the discount factor (in the sample answer below) 1.00 for year 1 and not 1/1.03 ? Going by my logic above and say we are g…
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Hi Graham, Thank you for asking. I am trying to revise the syllabus asap now. In the example you gave, I think the premium based method assumes that the historical fixed expense ratio (say 10%) applies to a projected period too. In your case, say 1…
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In Q3, I specifically how in the presence of exposure correlation would using the PP approach lead to double counting effect? Rest all doubts are clear uptil now. Thanks.
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Hi Graham, I am sorry for not being more specific and yes, it is one of the example in Werner under legal criteria for assessing a rating variable. Actually, I am not able to understand the statement/example at all. So, the best I could do was to ju…
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Hi, For doubt Q3, I am really sorry, it's Fall 2019 Q7 that I'm talking about. Thanks.
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Hi Graham, I'm sorry but I'm still confused in Q1. Following info was given with an U/W profit provision of -5%. Written Premium 15,000 Earned Premium 12,000 Ultimate Losses and LAE 10,000 Commissions and Brokerage 2,250 Other Acquisition Costs…
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Q1: I'll see when I study that chapter. Q2: Here's snapshot from Appendix 2 (homeowners' example). Please check the calculations on the right vs those in the second last column of the table--> https://www.battleactsmain.ca/battleacts5.ca/forum5/u…
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Q5: Can you please send over the diagram for area calculation either here or over email? I am still not able to make it. Probably that would make your explanation easier to take in. Q8: Why are we projecting taking EP from the historical period as o…
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In reference to your explanation above for change in average case o/s due to change in settlement rate, please clarify the following: I don't think that average case o/s should be affected by the speed of settlement when the settlement rate for amou…
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Hi Graham, This relates to Spring 2014 (Q19) - https://www.battleacts5.ca/pdf/Exam_(2014_1-Spring)/(2014_1-Spring)_(19).pdf However, the only difference is that we've originally been asked in question to calculate ultimate claims for the latest year…
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https://www.battleactsmain.ca/battleacts5.ca/forum5/index.php?p=/discussion/comment/4#Comment_4 I did not exactly understand the increased correlation with RY when social/legal climate changes in the first place (and thus, why RY aggregation is adva…