AOS
For exhibit E in formula sheet, it says one year reserve development while in most content is one year adverse development. Please tell me are they interchangeable or a typo? Thanks!
https://www.battleacts6us.ca/doc/BA_6U_Study_Sheets_(2023-11-19).pdf
Comments
Yes, it means the same thing here. If there is one year reserve development in excess of 5% then that would be considered adverse development because 5% is a positive number.
I hope you're finding the formula sheets useful. We did a complete revision of the formula sheets for the 2024-Spring exam sitting!