Financial Innovation

Table 6 Correlation between different LOBs

From: Claim reserving for insurance contracts in line with the International Financial Reporting Standards 17: a new paid-incurred chain approach to risk adjustments

s	Paid loss			Incurred claim
s	\(\rho ^{\xi }_{s,(1,2)}\)	\(\rho ^{\xi }_{s,(1,3)}\)	\(\rho ^{\xi }_{s,(2,3)}\)	\(\rho ^{\zeta }_{s,(1,2)}\)	\(\rho ^{\zeta }_{s,(1,3)}\)	\(\rho ^{\zeta }_{s,(2,3)}\)
0	0.9273	0.8112	0.9347	0.7778	0.6865	0.8002
1	0.9175	0.8016	0.8003	0.8507	0.8196	0.6073
2	0.9245	0.8276	0.7583	0.8656	0.8448	0.7838
3	0.9318	0.8542	0.7750	0.8151	0.8543	0.7048
4	0.9306	0.8790	0.7798	0.6024	0.7517	0.5583
5	0.9072	0.8794	0.7540	0.3498	0.6470	0.2409
6	0.8892	0.9018	0.7526	− 0.0206	0.4208	0.4499
7	0.8897	0.8576	0.7702	0.4317	0.6922	0.4931
8	0.8404	0.8379	0.6583	− 0.0904	− 0.1547	0.3478
9	0.7751	0.7539	0.6738	0.3650	0.4274	0.6494
10	0.6963	0.6864	0.8090	− 0.6999	− 0.6689	0.3363

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