[[Actuarial Notes Wiki|Wiki]] / [[Exam 5 (CAS)]] / **Policy Provision Changes** ## Definition ==Policy Provision Changes== refer to modifications in policy terms, conditions, exclusions, or coverage definitions that affect claim costs and patterns. ## Examples - Deductible changes - Limit modifications - New exclusions - Coverage expansions - Changed definitions - Different sub-limits ## Impact - Ultimate costs affected - Development patterns change - Historical data needs adjustment - May require pro-forma adjustments ## Related Concepts - [[Underwriting Changes#Definition]] - [[Mix of Business#Definition]] ## References - Friedland, Chapter 1