Exam 5 · Recoveries, LAE & Reserve Evaluation · Free Lesson

Project unpaid unallocated loss adjustment expenses using classical paid-to-paid and refined techniques.

Free CAS Exam 5 (Basic Ratemaking and Reserving) lesson in Recoveries, LAE & Reserve Evaluation. 24 min read, ~3,596 words.

A claims department pays adjusters' salaries, rent, and software long after a policy year closes. Those costs are real liabilities, but no single claim owns them, so you estimate them in bulk from a ratio.

Unallocated loss adjustment expense is the cost of running the claims operation that you cannot pin to any one claim. Think adjuster salaries, claim-system licenses, and office rent. Contrast this with allocated LAE, which attaches to a specific file, like the defense attorney hired for one lawsuit.

Because ULAE spreads across every claim, you cannot reserve it claim by claim. You estimate the aggregate unpaid amount from a ratio to losses.

The syllabus organizes ULAE estimation into three families. Dollar-based techniques tie ULAE to loss dollars and include the classical, Kittel, generalized (Conger-Nolibos), and Mango-Allen methods. Count-based techniques tie ULAE to claim transactions and counts. Triangle-based techniques build ULAE development triangles directly. This lesson works the dollar-based family in depth and names the rest.

The classical technique assumes ULAE runs proportional to loss dollars. You measure that proportion from recent calendar-year experience.

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Common mistakes

Bottom line

Exam shortcut

Read the split first. For classical and Kittel it is the traditional fixed 50/50, so case reserves carry 0.50. Give pure IBNR (claims not yet opened) the full 1.00, but if the problem flags that IBNR carries case development, expect a weight below 1.00 on that piece.

The full lesson (about 3,596 words, 24 min read) adds 5 worked examples, all 6 common mistakes, a self-check, free in the app.

Learning objectives

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