The Deficit reports calculate policy year deficits using ultimate premiums, losses, and expenses from the Loss Reserving Committee. The Large Loss Reports are used by the Loss Reserving Committee as part of its data review in consideration of the ultimate loss projections. These reports are be updated on a quarterly basis. Please contact Tim Galligan with any inquiries regarding these reports.
Industry Deficit Reports
Policy Year DeficitsPolicy year underwriting deficits for the commercial pool, as established by the Loss Reserving Committee for the current quarter.
Ultimate Deficit ProjectionsCommercial ultimate deficit projections for the three most recent policy years, as established by the Loss Reserving Committee for the current quarter.
Large Loss Reports
Change By Quarter This report summarizes the change in large losses by policy year for policies with losses exceeding the $1.0 million threshold. The report compares current and prior quarter’s losses and ALAE expenses and highlights the policies that are new to the report.
Detail By Policy Year This report displays historical large losses by policy year for the latest 10 years for policies that exceed $1.0 million in total losses including ALAE expenses. Reported losses are on an inception-to-date basis updated quarterly to reflect the most recent data. The report also includes policy detail including liability limit, number of claimants, vehicle class description, prior quarter losses, and other relevant data fields.
Notification Summary This report displays potential large losses that were submitted by Commercial Servicing Carriers through the Large Loss Notification form for the 2 most recent accounting quarters. The report includes statistically reported losses that are displayed on an inception-to-date basis.
Summary By Range This report summarizes the large loss polices by range of loss, for losses greater than $300,000, including ALAE expenses. The report includes the number of policies, the total losses and expenses, and a comparison to the total incurred losses, by policy year for the latest ten years.
Summary by Vehicle Type These reports summarize the large loss incidents by vehicle type for accidents with total incurred losses exceeding the loss thresholds of $300,000 and $1.0 million. Reported losses are on an inception-to-date basis and include ALAE expenses. The reports are updated quarterly to reflect the most recent data for the latest ten policy years and display data by company and for the Industry.