Summary-based and transaction-based

Exposure-based and premium-based

Individual and aggregate

Personal lines and commercial lines

Summary-based plans provide the most accurate data for actuarial-related purposes.

Transaction-based plans collect loss data only when a claim is closed.

Summary-based plans do not provide enough detail for regulatory reporting purposes.

Transaction-based plans better support the business need for data.

Code the data elements for policies in a separate process from the rating process.

Code those data elements that are variables in rating the coverage.

Code a policy only after it has been rated.

Code all data elements for all policies.

Actuarial pricing.

Extension of exposure adjustments.

Loss reserve determinations.

Regulatory reporting.

On a direct basis.

On an on-level earned premium basis.

On a net of reinsurance basis.

On an IBNR basis.

Is used to allocate the earned premium to the proper calendar-accident years.

Indicates which set of statistical plan codes were valid at the inception of the coverage.

Determines the assignment of the paid and/or outstanding loss or allocated loss adjustment expense (LAE) to the proper accident year.

Is used to assign written premiums and loss payments and outstanding loss reserve and expense adjustments to the proper policy year.

Is the date on which the record representing the transaction is generated or coded.

Is the date on which coverage ends.

Is the date on which coverage begins or changes.

Is the date on which the transaction was entered in the insurer's financial books.

Reflects the period of time for which coverage is provided.

Indicates which set of statistical plan codes were valid at the inception of the coverage.</font>

Provides assurance that the intended premium and loss data were reported and reported once only.

Is used to assign premium and loss records to the proper policy year.

Are used to calculate earned premium from the reported written premium over the policy term.

Provide assurance that the intended premium and loss data were reported and reported once only.

Reflect the period of time for which coverage is provided and any losses were paid.

Indicate which set of statistical plan codes were valid at the inception of the coverage.

Reinsurance premiums

IBNR losses

Advisory prospective loss costs

Allocated loss adjustment expense amount

Subline code.

Type of business.

Symbol code.

Type of policy.

Limit code based rating element.

Subline code based rating element.

Variable exposure based rating element.

Fixed exposure based rating element.

Some data elements are common to most lines of business and some are unique to a particular line.

Data elements are the same for all lines of business.

Data elements for personal lines are different than those for commercial lines.

Data elements are different for each line of business.

Coverage

Type of risk

Rating basis

Policy limits

Policy-years or policy-months

Car-years or car-months

Calendar-years or calendar-months

Accident-years or accident-months