For reserve analyses, Loss Forecaster requires the loss data to at least include paid amounts in order to accurately calculate the estimated required reserves, which is why the option to only use the Incurred method (which would only require incurred loss data) is grayed out.
Articles in this section
- Reserve Analysis - Why are my LDFs 1.000? How do I avoid this?
- Reserve Analysis - Why can't I choose "Incurred" method?
- Is there a way to take the unlimited LDFs that are built into Loss Forecaster and adjust them for deductible size to get limited LDFs without developing my own book of business triangles at various retentions and approximating the relativities at various
- How can I measure the effectiveness of my loss control program?
- What is the range of my projected losses?
- The carrier defines the premium. How accurate is the carrier's estimate of my losses?
- How do I accurately budget my self-insured program?
- Our loss experience is improving. How do I renegotiate my letter of credit?
- In a loss projection where we are evaluating both methods, Loss Forecaster shows that the estimated ultimate paid losses are much larger than the estimated ultimate incurred losses. Why would that be?
- My “greenest” year has no reserves, so I am getting a loss development factor of 1.000. How can I get the system to generate a LDF higher than 1.000 without manually entering in a LDF?”