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Old 09-17-2018, 05:46 PM
actuario92 actuario92 is offline
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Default ISO ILF Curves

For anyone familiar with ISO Verisk curves, particularly their ILF curves, does anyone know the difference between the three tables (1-3) they provide for each group?
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Old 09-17-2018, 10:18 PM
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therealsylvos therealsylvos is offline
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For anyone familiar with ISO Verisk curves, particularly their ILF curves, does anyone know the difference between the three tables (1-3) they provide for each group?
Different classes are grouped together in each of the tables. Consult the CLM for the mapping.
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Old 09-18-2018, 03:19 PM
jerrytuttle jerrytuttle is offline
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Default ISO ILF Curves

I suggest you read the actuarial circular on the ILF curve once so you understand how ISO constructs its curves. Possibly there are components of the calculation where you feel industry data should be replaced with your own company considerations.
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Old 09-19-2018, 01:57 AM
oirg oirg is online now
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If I remember correctly, tables 1, 2 and 3 are for the premises/operations coverage. Classes assigned to table 1 have the lowest average severity of losses while classes assigned to table 3 have the highest. As Jerry suggests above, looking at the actual circular would provide the information you’re looking for.
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Old 09-24-2018, 10:37 AM
r8ingStuff r8ingStuff is offline
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If I remember correctly, tables 1, 2 and 3 are for the premises/operations coverage. Classes assigned to table 1 have the lowest average severity of losses while classes assigned to table 3 have the highest. As Jerry suggests above, looking at the actual circular would provide the information you’re looking for.
This is correct. ISO publishes tables 1-3 for Prem/Ops only, and these are further split into state groups that can be identified by downloading the Actuarial Services circular and looking at the state key. The Products/Completed Ops curves are split into Tables A,B, and C and there are only 3 curves, as these are countrywide.

It's not just about average severity, however. Table 1 has a thinner tail with regard to size of loss than Table 2, which in turn has a thinner tail than Table 3 - so it has more to do with how large the ILFs are for certain class codes that are mapped to these tables.
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