I need a "Loss Development Report." Is this something that can be generated with RISK66?

Yes. Loss Forecaster, one of the tools found within RISK66, could be used to fulfill this request depending on your needs.

Loss Forecaster can complete two types of analyses - a Reserve Analysis and a Loss Projection. Both of these analyses utilize Loss Development Factors (LDFs) to estimate ultimate losses for historical periods at a given retention limit. The Reserve Analysis estimates ultimate losses for the historical periods and determines the liability remaining as of a given point in time. A Reserve Analysis might answer the question, "What liability (or reserve) amount should I expect to pay on claims in the the 2010-20 policy years as of 12/31/20?" The Loss Projection also estimates ultimate losses for historical periods but then utilizes those historical loss estimates in conjunction with an exposure base to project losses for a future period. A Loss Projection might answer the question, "What amount of losses should I expect to accrue for 2021?"

The answers to each of these questions are computed in Loss Forecaster using LDFs. In most cases, the analysis utilizes benchmark LDFs compiled by coverage (and by state for WC). However, the user does have the option to input their own LDFs if they have unique LDFs available as the result of a prior actuarial study. Loss Forecaster only provides benchmark LDFs and does not calculate unique LDFs. If you would like to have a report completed to generate unique LDFs, you can request an actuarial study which one of our actuaries would complete for a separate fee.