This may seem like a stupid question, but does anyone here have any idea regarding the origin of ALAE?
I understand that it is possible to combine Loss and ALAE for the IBNR valuation.
Then, why is there a need to separate these 2 items?
Was there an initial rationale for setting up Loss and LAE (and ALAE/ULAE, now DCC/AAO) separately?
Thanks in advance.
I understand that it is possible to combine Loss and ALAE for the IBNR valuation.
Then, why is there a need to separate these 2 items?
Was there an initial rationale for setting up Loss and LAE (and ALAE/ULAE, now DCC/AAO) separately?
Thanks in advance.
Origin of ALAE
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