Data Requirements
(If you can answer YES to all 6 of
the following questions, you could
become a Very Satisfied Client!)
- Do you have 4 or more years of Loss Data (5 or more years preferred, 14 years max)?
- Do you have at least 10 or more of the same type of claims/year?
- Are you paying at least $500,000 in annual insurance premiums?
- Would you be interested in potentially lower insurance premiums and collateral requirements, if the data supports it?
- Are you open to speaking with RAS to find out how we typically work with our clients, and how we could work with you?
- Would you be willing to let us review you Loss Data, under a Mutual NDA, to do an Initial Analysis, to determine if a full analysis is likely to be beneficial?
“My business partner Alan Cantor began doing these type of analyses 50 years ago. If you answered YES to all 6 questions, we would be honored if you will give RAS a chance to show what we can do for you.”
Thank you,
Larry Rudwick
Co-Managing Member
Risk Analysis Services LLC
Loss Data (Unlimited Total Incurred)
Minimum of 4 years of Claims – Loss Run Data (Showing at least Coverage* Occurrence Date, Incurred Loss Amount). Successive Annual Valuations of Each Incurred Loss Year’s Claims**, if available, Showing Coverage*, Occurrence Date, Incurred Loss Amount (required for Loss Development)**
Exposure Data
Annual Historical Exposure Data corresponding to Loss Data years, and Estimated or Budgeted Exposure Data for the Current and Following Year (e.g., for WC: number of employees, payroll; for GL: $ sales or revenues; for Auto Liability: number of vehicles, number of miles; for Medical Insurance: census, # of members, by age group, by gender, …).
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Notes:
* If more than one coverage.
**Loss Forecasting requires at least 4-years of data (max 14), with or without successive annual valuations. Successive Annual Valuations of Incurred Losses are required for Loss Development.
