Difference between revisions of "ASOP43.UnpaidClmEst"
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===Section 2: Definitions=== | ===Section 2: Definitions=== | ||
| − | The terms defined in this | + | The terms defined in this section are all very obvious but there's one that might be worth memorizing: |
| − | '''unpaid claim estimate''' | + | :{| class='wikitable' |
| − | : | + | |- |
| + | || '''unpaid claim estimate''': the actuary’s estimate of the obligation for future payment resulting from claims due to past events | ||
| + | |} | ||
===Section 3: Analysis of Issues and Recommended Practices=== | ===Section 3: Analysis of Issues and Recommended Practices=== | ||
Revision as of 16:05, 14 July 2020
Reading: Actuarial Standard of Practice No. 43, Property/Casualty Unpaid Claim Estimates
Contents
Pop Quiz
Study Tips
ASOPs generally have these sections:
- Section 1. Purpose, Scope, Cross References, and Effective Date
- Section 2. Definitions
- Section 3. Analysis of Issues and Recommended Practices
- Section 4. Communications and Disclosures
- Appendices
Sections 3 & 4 contain most of the relevant information. The definitions in Section 2 are usually obvious and familiar, and are covered in either the Werner of Friedland source texts anyway. You can skip Section 1 and the Appendices. The appendices usually contain either very general background information or comments on the draft version of the ASOP.
Estimated Study Time: 30 minutes (you may occasionally refer back to this ASOP while studying the main pricing and reserving material)
BattleTable
- this reading has not been tested on any exam from the year 2012 and subsequent
reference part (a) part (b) part (c) part (d) no prior questions
In Plain English!
Section 2: Definitions
The terms defined in this section are all very obvious but there's one that might be worth memorizing:
unpaid claim estimate: the actuary’s estimate of the obligation for future payment resulting from claims due to past events
