Deficit and Large Loss

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.

Deficit Reports

Industry Summary of Loss Ratios

Quarterly development of policy year loss ratios for the private passenger and commercial pools.

Industry Policy Year Deficits

Policy year underwriting deficits for the private passenger and commercial pools, as established by the Loss Reserving Committee for the current quarter.

Industry Ultimate Deficit Projections

Commercial ultimate deficit projections for the three most recent policy years, as established by the Loss Reserving Committee for the current quarter.

Large Loss Reports

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.

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.

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.

 
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