Description: Enterprise Risk Management Perspective
Enterprise Risk Management Perspective
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Risk Managers appreciate ‘… things are often not as they first appear.’ These words can be especially true in the world of open claims. Like the snapshot of a child on its first birthday … a loss run at policy expiration is far from full-grown. Generally a policy’s losses continue growing until all claims have settled. This ‘development’ can vary widely by line of business. Some lines (property) close out quickly leaving little or no long term uncertainty. Other lines will contain claims that drag on for ye