Rule 11
The BattleActs summary says that the "If the experience with a carrier is not a full year then Table 11 provides additional loss development factors to bring that experience to the latest valuation date to then allow the usual LDFs in Rule 15 to be applied." Are those LDFs truly applied in addition the Table 15 LDFs? To me it appears that these Table 11 supplementary LDFs bring losses to ultimate just like Table 15. It's just that Table 15 doesn't contain LDFs for anything less than 18 months maturity, and Table 11 contains LDFs for 15,12,9 and 6 months maturity.
Am I missing something? Thanks for the help!
Comments
Thanks for pointing this out. You're correct - we've amended the wiki to make it clear you're either applying Table 15 (the usual situation) or Table 11 LDFs (when you have an incomplete policy year).