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23:12 Jul 25, 2005
This question was closed without grading. Reason: Answer found elsewhere
English to Spanish translations [PRO] Insurance
English term or phrase:Término de seguros : completion factors
The IBNR is determined by applying the completion factors to the 12-month rolling average paid claim amount. When the self-insured plan was first set up, the Company hired an external consultant to develop the actuarial completion factors. The factors are stored in a spreadsheet in the HR shared drives. Jim also keeps track of the paid claim information as reported on the monthly statement from UMM. This spreadsheet is on the shared drive also.