Starting to check the syllabus and readings for STAM now. I see that some readings are from the property and casualty insurance. How much of the STAM material is related to the P&C side?
Arguably a lot of it. If you’re talking life insurance, that’s ‘long term’. P&C stuff is often more short term (STAM).
In terms of the material, the loss models book, I dunno if that’s P&C specific material or not. The stuff that’s on the syllabus that is definitely P&C is the credibility and a few other smaller items. No idea why they did that - the loss models text covers credibility as well as the actual syllabus IMO - they could use the text for the whole shebang. I’m gonna guess politics maybe.
Maybe they make us take STAM material so we understand tail behavior? And aggregate claims models?
Either way, LTAM material seems a lot more directly related to the life side of things - annuities and life insurance calcs.
You clearly explained the difference between STAM and LTAM. I didn’t know what differentiated STAM from LTAM until I read the syllabus and asked here. Thanks for the reply!