1. Recently evaluated aggregate claims data (incurred loss and incurred ALAE) by accident year or policy year, CAT and ex CAT separately by line of business for preferably the last five complete years.
Need large loss history:
Detail on all losses above $100,000
Date of loss
Type of loss/description
Indication if this type of exposure is still active (or will be after book roll)
Amount paid/incurred (loss and ALAE) direct ground up data triangles (CAT and ex CAT separately, preferably by line of business) to enable actuarial to apply proper loss development.
Need large loss history:
State
Class
2. Recently evaluated detailed claims data in Excel for preferably the last five complete years including:
Claim number
Accident date
Policy number and effective date
Paid loss
Paid ALAE
Incurred (or outstanding) loss
Incurred (or outstanding) ALAE
Catastrophe indicator (if applicable)
Line of business
Deductible, and recoveries (if applicable)
Cause of loss (i.e., BI/PD or more subjective description of the claims)
State, class, or any other detail that gets to the appropriate level at which rate adequacy needs to be evaluated
Policy/premium information
Minimum requirements
GWP/GEP by year, either calendar year or policy year; year of the premium should be aligned with loss and ALAE years for appropriate matching of premium and losses
Mix of premium by state and class
Exposure information by year
Policy counts
History of policy limits profile
History of deductible/SIR limits on property
List of covered perils
If catastrophe-prone, the location detail with insured values needs to be submitted to run through the catastrophe modeling system.
If premium is provided as opposed to exposures, the rate history by line of business is required.