Product Update

U.S. Claims Cost Indexes Updated in Risk Financing


This release of Risk Financing updates the U.S. claims cost indexes in Appendix F. These factors are useful in the analysis and projection of losses. The updates are completed periodically by Jeremy Pecora and Emily Thompson, consulting actuaries with Willis Towers Watson. A general overview of these updates is also provided in this issue of Risk Financing Perspectives and our regular "Market Corner" discussion provides quarterly updates on current property and casualty insurance market conditions.

Additionally, several applications of the claims cost indexes are described and updated in the discussions in the Risk Financing section on risk quantification. The discussion on data requirements provides examples of how the indexes are utilized with other trend factors, such as those for loss development. It explains the use of payout profiles and present value analysis for different risks. The discussion on basic loss forecasting methods offers additional examples using the U.S. claims cost indexes for forecasting losses.

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