Originally Posted by Mystic13
Thanks guys and now this is where the $77 comes from.
Last year ACC paid out $62 million in ACC claims. And you've all been foolishly basing your numbers on that. lol. You need to realise ACC haven't done that. They picked an arbitrary number for next years claims. They chose $252 million. ..
Actually, we do realise that. And, from an insurance actuary's point of view it is correct.
but
a) this is not a debate between actuaries or statisticians. This is a propaganda war. ACC are presenting information in a highly slanted fashion. We can (and should) do the same. ACC's figure is technically correct. So is ours. Ours is easier for Joe Q Public, that deep and incisive thinker, to understand. Indeed , an eight year old can understand it. If ACC try to explain their number Joe's eyes will glaze over.
b) The actuarial basis of the numbers is highly suspect and politicised. One could take a dartboard and get almost any number
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