ClaimType-class: An S4 class to represent a claim type.
In cascsim: Casualty Actuarial Society Individual Claim Simulator

Description Slots

An S4 class to represent a claim type.

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.