teddybear
10-10-2003, 11:09 AM
I had kind of hard time going through Siewert's article - A model for reserving WC high deductibles.
Question 1:
There are per occurrence charge and aggregate loss charge. My understanding is that "Per occurrence limit" defines the total amount that insured has to retain per occurrence, while "aggregate limit" defines the total amount that insured has to retain under the program. And insurer charge insured for this.
Am I correct?
Question 1:
There are per occurrence charge and aggregate loss charge. My understanding is that "Per occurrence limit" defines the total amount that insured has to retain per occurrence, while "aggregate limit" defines the total amount that insured has to retain under the program. And insurer charge insured for this.
Am I correct?