Summary

• The actuary projects the ultimate value of claims based on payments made and case reserves.
• The special skills of the actuary are needed in the insurance business because liabilities are so hard to value.
• Though they may not be exact, case reserves must be established through the consistent application of claims department philosophy.
• Case reserves must be kept current so that the actuary is working with as much "real" information as possible.

I hope that you've enjoyed this presentation. Stop back sometime soon. I'll be adding new illustrations, defining some terms, and introducing other actuarial concepts.

Copyright © 1996, 1997 Maher Associates, Inc.
Last modified: January 1, 1997