| PPA {raw} | R Documentation |
Private Passenger Auto (PPA) Ratemaking Data
Description
This is data taken from Appendix A of the "Basic Ratemaking" study note by Werner and Modlin.
Rate change
This is a data frame with 7 observations of 5 variables.
RateGroup: Letters from A-G. Note that rate group "A" does not have any rate changes.
EffectiveDate: The effective date of the rate change.
RateChange: A number indicating the rate change. Note that this is NOT done as a percent, i.e. .05 = 5
RateLevelIndex: This is one plus the rate change.
CumulativeRateLevel: This is the cumulative product of the RateLevelIndex. Note that this varies slightly from the figures shown in the study note. I believe this is due to rounding in the study note.
Accident year
This is a data frame with 5 observations of 4 variables.
AccidentYear: The accident year.
EarnedExposure: The exposure earned for the accident year.
EarnedPremium: The premium earned for the accieent year.
ReportedLoss: The reported loss and paid ALAE for the accident year.
Premium trend
Data frame with 25 observations of 3 values. The premium is shown at current level. This may be used to determine premium or exposure trend.
QuarterEnding: The ending quarter as a Date type.
WrittenPremium: Premium written during the quarter at current rate level.
WrittenExposure: Exposure written during the quarter.
Loss development
Data frame with 25 observations of 3 values. Note that this loss development data is stored in "long" rather than "wide" format.
AccidentYear: The accident year as an integer.
Lag: The lag in months as an integer.
ReportedLoss: The reported loss and paid ALAE for that accident year and lag.
Loss trend
Data frame with 20 observations of 7 values. The data may be used to estimate loss trend.
YearEndingQuarter: The end of a one-year period as a Date.
EarnedExposure: The exposure earned during the period.
ClosedClaimCount: The number of claims closed during the period.
PaidLosses: The amount of loss paid during the period.
Frequency: The closed claim count divided by the exposure.
Severity: The paid losses divided by the closed claim count.
PurePremium: The paid losses divided by the earned exposure.
ULAE
A data frame with 3 observations of 4 values.
CalendarYear: The calendar year as an integer.
PaidLoss_ALAE: The paid loss and ALAE for the calendar year.
PaidULAE: The ULAE paid in the calendar year.
ULAE_Ratio: The ratio of ULAE to the paid loss and ALAE.
Usage
data(PPA)