Everyone should consider whether Company-based factors are more appropriate
than simply applying the IRS factors to Schedule P. In the past this was an
arduous task, but I've seen some software that makes it just as easy to apply
Company-based as Industry factors. You simply enter the Schedule P data, and
a spreadsheet macro does the rest. It calculates both company-based and
industry factors (for accident years 1986 through 2001), and it provides an
exhibit to help show which set of factors would be more appropriate for the
1997 determination year. Further, it produces output showing the discount
factor calculations, and the application of these factors to each calendar
year's full value reserves.
I'm not sure how much the software costs, but it's available in both Lotus
1-2-3 and Excel format. If you want more details, I can get them. Feel free
to e-mail me!
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