ClaimType-class {cascsim}

An S4 class to represent a claim type.

Description

An S4 class to represent a claim type.

Slots

simno

The simulation index.

line

A string to identify the business line that the claim belongs to.

claimType

A string to identify the type of the claim. It further classifies the claims within a business line. For example, the type could be based on the size of the loss.

iRBNER

A Boolean variable to indicate whether RBNER (open claims) should be simulated.

iROPEN

A Boolean variable to indicate whether claim reopen should be simulated.

iIBNR

A Boolean variable to indicate whether IBNR claims should be simulated.

iUPR

A Boolean variable to indicate whether future claims should be simulated.

fIBNER

IBNER development factor.

severity

Severity distribution.

frequency

Frequency distribution.

reportLag

Report lag distribution.

settlementLag

Settlement lag distribution.

reopen

Claim reopen probability based on the number of years after settlement till valuation date.

reopenLag

Reopen lag distribution.

resettleLag

Resettlement lag distribution.

roDevFac

Reopened claim development factor.

ioDevFac

A numeric variable to indicate the method of loss development for open claim severity. 1: Conditional distribution based on paid loss; 2: conditional distribution based on incurred loss; 3: year-to-year development factors

irDevFac

A numeric variable to indicate the method of loss development for claim reopen severity simulation. 1: Conditional distribution based on paid loss; 2: conditional distribution based on incurred loss; 3: year-to-year development factors

freqIndex

Frequency distribution time index.

severityIndex

Severity distribution time index.

exposureIndex

Exposure time index for IBNR or UPR.

iCopula

Whether copula is used to model severity, report lag and settlement lag.

ssrCopula

Copula object used for severity, report lag and settlement lag.

sdata

Indicating whether only closed claims (CLOSED) or closed + open claims (ALL) will be used for severity fitting.

p0

An yearly table that controls the probability of invalid claim, excluding these valid claims less than deductible based on development year. It is based on the DevFac class.