Specific Software Solutions · SIGMA Actuarial Consulting Group

If you are computing a mod for a company with a wrap up or OCIP, then you may have more than the standard three policy periods worth of experience rating data.  Sometimes, this may mean you have five or six policy periods of data. In ModMaster, there are four policy period data entry fields on the Setup screen. This prompts the obvious question, “What do I do with the other policy periods?”

You will need to combine the policy periods in a manner that makes the most sense for your particular case. The mod calculation will still be accurate.

For example:

A company has standard policy periods

01/01/01 - 01/01/02, 01/01/02 - 01/01/03, 01/01/03 - 01/01/04

and wrap up years

04/01/02 - 04/01/03 and 04/01/03 - 04/01/04.

You would combine these and use the following policy periods:

01/01/01 - 01/01/02 (include data from 01/01/01 - 01/01/02)

01/01/02 - 04/01/03 (include data from 01/01/02 - 01/01/03 and 04/01/02 - 04/01/03)

01/01/03 - 04/01/04 (include data from 01/01/03 - 01/01/04 and 04/01/03 - 04/01/04)

Please contact us if you have further questions or need help with your particular case that requires combining policy periods.

Other keywords: multiple policy periods, entering more than 3 policy periods, entering more than 4 policy periods

Last update: 04:50 PM Friday, January 6, 2006

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