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CAS: Severity Curve Fitting for Long­Tailed Lines: An Application of Stochastic Processes and Bayesian Models

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Figure

Figure 2 shows the µ parameters of a lognormal distribution fit to each accident year and age of a ground  up  dataset  of  approximately  three  thousand individual professional liability claims.
Figure 2. Fitted lognormal µ by AY and age from dataset  of professional liability claims
Figure 3. Smooth curve of severity distribution parameter by report age
Table 2. Variable definitions
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