Five star insurance company writes insurance. In order to limit liability five star stipulates it will not entertain any new claims reported 5 years after the contract. Here is the annual yearly paid losses by year (not cumulative) in the form of a loss triangle. Very similar to what we assumed in class, no losses paid out in the year the policy was underwritten For example, the 1343 represents the amount paid in 2016 for the policies underwritten in 2015 and 1369 represents the amount paid in 2018 for policies written in 2016 12 24 36 48 60 2015 1,343 1,013 1.058 1,334 1,514 2016 1,574 1,369 1,589 1,165 2017 1,451 1,614 1.901 2018 1.602 1,861 2019 1,043 How much total money was paid by the insurer in 2019? Hint: it should be greater than 5,000 and less than 9,000 What was the development factor from 12 to 24 months for the year 2016 (Ratio of the amount paid in 2018 for policies underwritten in 2016 to the amount paid in 2017 for policies underwritten in 2016 I am giving you the answer 1369/1574) Express your answer round it to two decimals If we used average development factors for the reserves what would be the reserves? Hint: Use excel and calculate reserves for each policy year and add all of them Thibodeadach 20.000 How much total money was paid by the insurer in 2019? Hint: it should be greater than 5,000 and less than 9.000 What was the development factor from 12 to 24 months for the year 2016 (Ratio of the amount paid in 2018 for policies underwritten in 2016 to the amount paid in 2017 for policies underwritten in 2016 I am giving you the answer 1369/1574) Express your answer round it to two decimals If we used average development factors for the reserves what would be the reserves? Hint: Use excel and calculate reserves for each policy year and add all of them up. The answer should be greater then 10,000 and less than 20,000 If you want me to give you partial credit, you can email me your calculations. Five star insurance company writes insurance. In order to limit liability five star stipulates it will not entertain any new claims reported 5 years after the contract. Here is the annual yearly paid losses by year (not cumulative) in the form of a loss triangle. Very similar to what we assumed in class, no losses paid out in the year the policy was underwritten For example, the 1343 represents the amount paid in 2016 for the policies underwritten in 2015 and 1369 represents the amount paid in 2018 for policies written in 2016 12 24 36 48 60 2015 1,343 1,013 1.058 1,334 1,514 2016 1,574 1,369 1,589 1,165 2017 1,451 1,614 1.901 2018 1.602 1,861 2019 1,043 How much total money was paid by the insurer in 2019? Hint: it should be greater than 5,000 and less than 9,000 What was the development factor from 12 to 24 months for the year 2016 (Ratio of the amount paid in 2018 for policies underwritten in 2016 to the amount paid in 2017 for policies underwritten in 2016 I am giving you the answer 1369/1574) Express your answer round it to two decimals If we used average development factors for the reserves what would be the reserves? Hint: Use excel and calculate reserves for each policy year and add all of them Thibodeadach 20.000 How much total money was paid by the insurer in 2019? Hint: it should be greater than 5,000 and less than 9.000 What was the development factor from 12 to 24 months for the year 2016 (Ratio of the amount paid in 2018 for policies underwritten in 2016 to the amount paid in 2017 for policies underwritten in 2016 I am giving you the answer 1369/1574) Express your answer round it to two decimals If we used average development factors for the reserves what would be the reserves? Hint: Use excel and calculate reserves for each policy year and add all of them up. The answer should be greater then 10,000 and less than 20,000 If you want me to give you partial credit, you can email me your calculations