The data represent industry aggregates for private passenger auto liability\/medical coverages from year 2004, in millions of dollars. They are based on insurance company annual statements, specifically, Schedule P, Part 3B. The elements of the triangle represent cumulative net payments, including defense and cost containment expenses.
A data frame with 55 observations on the following 3 variables.
The year in which a claim has been incurred, a numeric vector
The number of years from incurral to the time when the payment is made, a numeric vector
Cumulative net payments, including defense and cost containment expenses, a numeric vector
Frees E.W. (2010), Regression Modeling with Actuarial and Financial Applications, Cambridge University Press.
Wacek M.G. (2007), A Test of Clinical Judgment vs. Statistical Prediction in Loss Reserving for Commercial Auto Liability, in: Casualty Actuarial Society Forum, p. 371-404.
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