Managing a Loss Reserving Department and Communicating Results

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Managing a Loss Reserving Department and
Communicating Results

• Ronald E. GrecoVice President Corporate
  ActuaryUnitrin

Casualty Loss Reserve Seminar Las Vegas,
Nevada September 14, 2004
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Levels of Management

• Board of Directors
• Chief Executive Officer
• Chief Financial Officer
• Chief Accounting Officer
• Operating Unit Heads
• Chief Claims Officer
• Tax Manager
• Outside Auditors

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Information Presented

• Appointed Actuarys Report
• Carried Reserves
• Reserve Ranges
• Metrics
• Ultimate Loss Selections
• Reserving Methods and Selections
• Special Reserves

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Reserve Ranges
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Reserve Metrics
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Average Premium
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Ultimate Loss Ratio
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Ultimate Claim Frequency
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Ultimate Claim Severity
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Selected Ultimate LossDollar Change
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Selected Ultimate LossPercent Change
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Reserving Methods Selections
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Asbestos
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Environmental
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Construction Defect
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Mold
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Ceded Reserves
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Reinsurers