Fill in the blanks: The uncertainty inherent in the estimation of _________ implies that a range of ________ can be actuarially sound. Those trained in actuarial science will likely answer “reserves.” That is, in effect, Principle 3 of the Casualty Actuarial Society’s Statement of Principles Regarding Property and Casualty Loss and Loss Adjustment Expense Reserves. [...]
loss cost
Each year, ISO submits thousands of regulatory filings that change our insurance programs. We annually review almost 15,000 bills, new laws, court cases, and regulatory actions. And that number is up by about 20 percent in just the last five years. To keep track of what’s going on, you need ISOnet — the information service [...]
At some point in our lives, we’ve all gotten lost when traveling an unfamiliar road. Perhaps you had trouble finding a new client’s office. Or maybe on your last business trip your company sent you to one of the more, um, economical motels 15 miles out of town. I think it’s fair to say that [...]
