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P. 100
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notice of claim. Claim data then can be aggregated
based upon these dates.
c) Frequency - The number of claims is directly
related to the number of exposures, actuaries
express claim incidence in terms of frequency per
exposure unit.
Fk = kC
E
Where
Fk = frequency per k exposure units
k = scale factor
C = claim count
E = exposure units
Where the context is established by either data or
previous exposition it might be appropriate to refer this
simply as frequency. In general, however, the need for
precision would require that the more specific language
'accident per year frequency per 1,000 earned car years
be used.
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