LossALAE {AoE} | R Documentation |
General liability claims Loss
and allocated loss adjustement expenses ALAE
provided by Insurance Services Office, Inc.
data(Loss) data(ALAE)
Numeric vectors of length 1500.
Quoted from Frees and Valdez (1998), p. 12: “The data comprise 1500 general liability claims randomly chosen from late settlement lags and were provided by Insurance Services Office, Inc. Each claim consists of an indemnity payment Loss
and an allocated loss adjustment expense ALAE
. Here, ALAE
are types of insurance company expenses that are specifically attributable to the settlement of individual claims such as lawyers' fees and claims investigation expenses.”
Amongst others, the data are also analysed in Beirlant et al. (2004, chapter 9).
Frees, E.W. en Valdez, E.A. (1998) Understanding relationships using copulas. North American Actuarial Journal 2, 1-15.
Beirlant, J., Goegebeur, Y., Segers, J., and Teugels, J. (2004). Statistics of Extremes. Wiley, Chichester. http://lstat.kuleuven.be/Wiley/index.html
data(Loss, ALAE) plot(Loss, ALAE, xlog = TRUE, ylog = TRUE)