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  #11  
Old 02-12-2018, 06:11 PM
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  #12  
Old 02-12-2018, 07:52 PM
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The best time to overhaul your claim/expense data systems was 10 (or 15 or 20) years ago.

The second best time is never.
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  #13  
Old 02-12-2018, 09:07 PM
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Quote:
Originally Posted by Marcie View Post
The best time to overhaul your claim/expense data systems was 10 (or 15 or 20) years ago.

The second best time is never.
All Hail Marcie! I will note that there are many, many contracts in play, both in reinsurance and in agency relationships, where ALAE and ULAE are still to governing nomenclature within the contract. Those are going to be around for decades.
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  #14  
Old 02-13-2018, 07:41 AM
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The best time to overhaul your claim/expense data systems was 10 (or 15 or 20) years ago.

The second best time is never.
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  #15  
Old 02-13-2018, 11:33 AM
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I will just throw in a reference to an earlier thread on this topic, from Professor Tuttle no less.. My main point being that when different authorities have different definitions, they may get different results.


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  #16  
Old 02-15-2018, 04:59 PM
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Originally Posted by Arlie_Proctor View Post
All Hail Marcie! I will note that there are many, many contracts in play, both in reinsurance and in agency relationships, where ALAE and ULAE are still to governing nomenclature within the contract. Those are going to be around for decades.
Worked on an agency relationship in the past year, where I used the term DCC, to be consistent with public disclosures we make that we have transitioned from ALAE/ULAE.

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  #17  
Old 02-22-2018, 10:06 PM
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From my experience, most reinsurance contracts use the ALAE/ULAE split because it makes more sense for certain types of treaties (e.g. excess of loss). Also, as I learned while preparing for the recent short-duration GAAP disclosures, GAAP never deviated from the ALAE/ULAE split so it may make sense - if GAAP continues to increase reporting requirements - to keep record of LAE trx under both treatments.
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  #18  
Old 02-23-2018, 09:28 AM
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wtf is a claims ratio
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  #19  
Old 02-23-2018, 10:03 AM
CuriousGeorge CuriousGeorge is offline
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wtf is a claims ratio
It's like a loss ratio, but the numerator uses claims instead of losses.
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