Spring 2016 # 23 Part b
The examiner's report says that because there is adverse development of over 5% in 3 of the last 5 years, this must be disclosed. The wiki states the usual range is <20% for IRIS 11. Has this IRIS ratio changed since then? The question didn't appear to be flagged as outdated so I want to make sure. Thanks!
Comments
The question isn't flagged as outdated, because the stipulation to explain in the Actuarial Opinion Summary when IRIS 11 exceeds 5% in 3 out of 5 years remains. This is mentioned in the SAO wiki:
https://battleacts6us.ca/wiki6us/Odomirok.16-17-SAO#Chapter_17_.28Actuarial_Opinion_Summary_Supplement.29
Ah OK, I was looking for that info in the IRIS section, thanks.