Determined the projected loss cost

Assignment Help Financial Accounting

Reference no: EM133497166

Question: All policies are 12-month policies. The rates will take effect July 1, 2020 and will be in effect for one year. In 2017 there was a large storm resulting in an additional 230 storm-related claims averaging 30,000 each. The company was able to settle 40% of all total claim liabilities relating to those claims within 2017 with the remainder being paid out in 2018. All other claims are completely settled by the end of year 4. The pricing actuary determined trend factors using the least squares method and determined the projected loss cost based on the loss costs for 2018 and 2019 with weightings of 40% and 60% respectively. You are to use the same methodology. The data and underlying model are in the Excel worksheet

Reference no: EM133497166

Questions Cloud

Explain the two complementary core components : Research and explain the two complementary core components, community partnership and problem-solving.

Prepare the necessary journal entries to record : Prepare the necessary journal entries to record the following transactions, assuming it's a perpetual inventory system

What crimes were committed : What crimes were committed? Who were the victims? How serious are the crimes? Are they felonies? Should a plea deal be offered to the defendant?

Comment on girl experience of living in foreign nation alone : Comment on girls experience of living in a foreign nation alone, in terms of cultural differences, challenges, and/or whatever aspects you wish to say.

Determined the projected loss cost : Determined the projected loss cost based on the loss costs for 2018 and 2019 with weightings of 40% and 60% respectively. You are to use the same methodology

Explain community policing : Explain community policing, its strategies, and its utilization of problem-oriented policing.

What is the present value of the 5 cash inflows : Year Annual Profits 1 150,000 2 270,000 3 330,000 4 310,000 5 290,000 What is the present value of the 5 cash inflows of this project

Do you think like it could help reduce real-life violence : Finally, do you think this study, and studies like it could help reduce real-life violence? If so, why? If not, why not?

How will a graph showing the behavior of maintenance costs : How will a graph showing the behavior of maintenance costs and identify the fixed-and variable-cost elements. Use 2,000-hour increments and $1,000 cost

User Account

All Pages