Loss development factor definition

Loss development factor means actuarially determined factors that are multiplied by incurred losses of non-PTD/death retro claims to produce developed losses. Loss development factors (LDF) are unique to each retro policy year.
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Examples of Loss development factor in a sentence

  • Loss development factor derivation and application on both paid and incurred bases and in both dollars and numbers of claims.

  • Loss development factor derivation and application on both paid and incurred bases and in both numbers and dollars of claims.

  • Loss development factor" means actuarially determined factors that are multiplied by incurred losses of non-PTD/death retro claims to produce developed losses.

  • Loss development factor derivation and application on both paid and incurred bases and in both dollars and numbers of claims ................................................................

  • Loss development factor methods generally assume that the losses yet to emerge for an accident year are proportional to the paid or reported loss amount observed so far.

Related to Loss development factor

  • spatial development framework means the Engcobo Municipal Spatial Development Framework prepared and adopted in terms of sections 20 and 21 of the Act and Chapter 2 of this By-Law;

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.