Pg 65 mentions there's a subtle difference between accident year premium and calendar year premium.
Can someone explain to me how we "aggregate" premium by accident period at all? An accident date is a point in time. It doesn't make sense to match all premium earned to one date - most policies won't have accident dates and those that do will earn in 100% at once.
Or, if it is the same as calendar, what's the subtle difference between the two?
Can someone explain to me how we "aggregate" premium by accident period at all? An accident date is a point in time. It doesn't make sense to match all premium earned to one date - most policies won't have accident dates and those that do will earn in 100% at once.
Or, if it is the same as calendar, what's the subtle difference between the two?
Accident Year Premium
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