Graves Exam problem 1993 #41

[mathdonkey]

I am going through Graves problem 41 on page 157 volume 2. I follow everything, but I would have trended the loss ratios calculated by 1.5 years. It says that they are developed and trended Losses & Lae. My assumption here is that they would be trended to current levels not the future level that would be needed in the projection period.

Am I missing something??

[jk]

No, if you're told that losses are "developed and trended", you can assume that they've been trended all the way out to the appropriate future date.