battleacts
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Interesting. In battleact "CCIR.ARinstr", it says net loss ratio= APV(incurred)/EP.
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when calculate pfad for ceded reinsurance, the sample answer use (53000-49004) * mfad, but I think it should be (60,000-55,000) * 97% * mfad, am I correct?
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In ARinst, investment income=investment revenue-investment expense. should I assume this investment revenue includes capital gains?
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I feel I don't quite understand "runoff". Or maybe you can explain "runoff".
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Thank you for the explanation.
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Thank you for clarifying the terms.