Future inflation from mid-2014 is estimated to be 2.5% per annum. The ultimate loss ratio (based on mid-2014 prices) has been estimated at 75%. Claims are assumed to be fully run-off at the end of development year 3. Estimate the outstanding claims arising from policies written in 2014 only (taking explicit account of the inflation statistics in both cases), using: (i) The chain ladder method.

Comprehensive illustrative problem: mira's store on february 1 20a4 mica delaman opened astore that sells school supplies her main customer are the students and teachers of happy students school that is situated in front of her store. mira wanted to know the financial position of mira's store. mira knew you were studying accounting. so she asked for . 1. to start her business mira's opened a checking account in the name of mira's store . the statement of account from the bank shows that the checking account has a balance of 31,535 of december 31,20a4