Contents: This report is used to summarize claim statistics needed for preparation of Annual Statements. The report provides quarterly loss and expense reserves and payment totals for prior year end and current quarter year to date statistics for the current year, by loss year. Listed on the report is the following information:
Prior Year End YTD Known Case Loss and LAE Reserve
Prior Year End YTD IBNR Loss and LAE Reserve
Current YTD Expense Paid
YTD Loss and LAE Payments on Claims Reported as of the Prior Year End
YTD Loss and LAE Payments on Claims Unreported as of the Prior Year End
YTD Loss and LAE Payments
Q. S. (Quarterly Statement) Date Known YTD Case Loss and LAE Reserves on Claims Reported and Open as of the Prior Year End
Q. S. (Quarterly Statement) Date Known YTD Case Loss and LAE Reserves on Claims Reported or Reopened Subsequent to Prior Year End
The report is grouped by Company / State and totals by Company / State.
Who Uses Report: Claims management for preparation of company Annual Statement Line reports.
When to Run Report: The report can be run quarterly; however, to accurately report information, it should be run at the end of the year after End of Period Processing has completed.
Input Parameters:
Company (With an option for all companies)
State (With an option for all states)
Year of Losses: Current, Current & Previous 1 Year, Current & Previous 2 Years, Current & Previous 3 Years
Current Year Quarter: 1st, 2nd, 3rd, 4th