Theoretically, the use of unique factors as opposed to industry averages produces a more accurate projection of ultimate incurred losses. Therefore, if you have development data that is unique to the entity that you are preparing the report for, then use that data rather than the defaults provided by Loss Forecaster.
Articles in this section
- Why am I getting the message, "Paid cannot be greater than occurred.” on the Limited Incurred/Paid Losses column,
- What is the difference between the two methods of loss development?
- How should I weight the workers compensation inflation trend factors?
- If I have a client’s loss development history, can I use that data in Loss Forecaster?
- How do I enter data on the "Excess of Limit Data Input" page?
- How does LF develop losses for a period which is closed (fully paid)?
- Have the adjusted loss amounts on the pure loss rate report been adjusted to reflect today's dollars, not what was actually paid?
- How can I view or change the factors used for the present value (payout schedule) calculations?
- What value do I enter for the incurred large loss on the "Excess of Limit Data Input" page?
- What do I enter for the loss limit on the "Analysis Setup Data" page?