_____ Involves Projecting the Frequency and Severity of Losses into the Future

question 2

Short Answer

_____ involves projecting the frequency and severity of losses into the future based on current data and statistical assumptions.

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Definitions:

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Contingency Planning

The process of preparing for unexpected events by developing strategies to address and mitigate risks.

Alternative Courses

Different paths or strategies that can be chosen in decision-making processes to achieve a specific goal.

Actions

Deeds or steps taken in order to achieve a specific purpose.