=== ChainLadder: R package for insurance claims reserving ===

Version 0.1.3-3
================
NEW FEATURES

  o New multivariate chain ladder function 'MultiChainLadder' by Wayne (Yanwei) Zhang  <actuaryzhang@uchicago.edu>
  o New function 'getLatestCumulative' available. It returns for a given triangle the most recent values for each origin period.
  o New ChainLadder comes now with demo files! Type demo(package='ChainLadder') for more information.
  o Demos exist for the following topics: ChainLadder, MackChainLadder, DatabaseExamples, MSOffice, MultiChainLadder
  o New SWord example file ChainLadder_SWord_Example.doc, which demonstrates how R code snippets can be integrated into a Word file.
    The following R command system.file("SWord", package="ChainLadder") will show the directory of the file.

USER-VISIBLE CHANGES
   o The examples in MackChainLadder and ChainLadder-package have been shortened and demo files have been created instead.
     The examples focus on the syntax of the function calls, while the demos give more detailed information 
     on how you might want to use the functions in a business context.
      
   
BUG FIXES

  o 'plot.MunichChainLadder':  The labels of the axis of the residuals plots where the mixed up. 
    Thanks to Ben Escoto for reporting this issue.
  o 'estimate.sigma' didn't check for sigma>0 before applying a log-linear regression. Thanks to Dan Murphy reporting this bug.

Version 0.1.2-14
================
CHANGES
  o as.triangle.data.frame sort the data frame by origin and dev period before creating a triangle. 
  o New test suits using RUnit


Version 0.1.2-13
================
USER-VISIBLE CHANGES

  o 'MackChainLadder' has new argument 'alpha' as an additional weighting parameter. 
     As a result, the argument 'weights' is now just that, weights should be between 0 and 1.
     The argument 'alpha' describes the different chain ladder age-to-age factors:
     The default for alpha for all development periods is 1. See Mack's 1999 paper: 
     alpha=1 gives the historical chain ladder age-to-age factors, 
     alpha=0 gives the straight average of the observed individual development factors and 
     alpha=2 is the result of an ordinary regression with intercept 0. 
  
  o Basic 'chainladder' function now available using linear models. See ?chainladder for more information.

  o More examples for 'MackChainLadder' demonstrate how to apply the MackChainLadder over 
    several triangles in 'one-line'.

  o 'as.data.frame.triangle' has new argument 'lob' (e.g. line of business) which allows to set 
    an additional label column in the data frame output.

BUG FIXES

  o 'MackChainLadder':  Latest position of incomplete triangles were in some cases not returned 
    correctly. Thanks to Ben Escoto for reporting and providing a patch.

  o 'MackChainLadder': 
    - Mack.S.E was not correctly calculated for non-standard chain ladder age-to-age factors (e.g. 
      straight averages or ordinary regression through the origin) due the missing argument 
      for 'alpha'. 
    - Chain ladder age-to-age factors were always applied to diagonal elements to calculate forecasts,
      although data in sub-diagonal triangle could exist. 
    Many thanks to Przemyslaw Sloma for reporting those issues. 
  
Version 0.1.2-12
================

NEW FEATURES

 o New triangle class with S3 methods for plot, print and conversion from triangles to data.frames 
   and vis versa
 o New utility functions 'incr2cum' and 'cum2incr' to convert incremental triangles into 
   cumulative triangles and vis versa. Thanks to Chritophe Dutang.
 o New logical argument lattice for plot.MackChainLadder (and plot.triangle), which allows to plot 
   developments by origin period in separate panels.  

BUG FIXES

  o 'MunichChainLadder': tail factors were not accepted. Thanks to Stefan Pohl for reporting this issue.

Version 0.1.2-11
================
BUG FIXES

  o 'MackChainLadder': 'F.se'[ultimate] was calculated of the ultimate column instead of the latest paid. 

Version 0.1.2-10
================
USER-VISIBLE CHANGES

  o 'MackChainLadder' has new arguments 'tail.sigma' and 'tail.se' to provide estimates for 
    the variability of for a given tail factor
 
BUG FIXES

  o 'MackChainLadder': calculation of 'Mack.S.E' did not use an ultimate sigma factor to estimate 
    'Mack.S.E' when a tail factor > 1 was provided (Thanks to Mark Hoffmann for reporting this issue).

Version 0.1.2-9
===============
USER-VISIBLE CHANGES

  o Updated documentation to work with new Rd-file parser (R version >= 2.9.0)
  o Updated documentation for 'ABC' data (Thanks to Glen Barnett)

Version 0.1.2-8
===============
USER-VISIBLE CHANGES

  o Updated documentation for 'MackChainLadder' (Thanks to Daniel Murphy)

Version 0.1.2-7
===============
USER-VISIBLE CHANGES
  
  o 'MackChainLadder' gives two more elements back: 'Mack.ProcessRisk' and 'Mack.ParameterRisk' 
    for the process and parameter risk error (Thanks to Daniel Murphy)
  o In the summary output of 'MackChainLadder' the label 'CV'  changed to 'CV(IBNR)' to clarify 
    that we show the coefficient of variance of the IBNR.
  o 'MackChainLadder' provides new example plots for CV(IBNR) vs. origin period and CV(Ultimate) 
    vs. origin period  
  o Updated documentation

Version 0.1.2-6
===============
USER-VISIBLE CHANGES

  o Updated documentation

Version 0.1.2-5
===============

NEW FEATURES

  o New function 'BootChainLadder', based on papers by England and Verrall, 
    and Barnett and Zehnwirth
 
  o 'MackChainLadder' and 'MunichChainLadder' allow for tail factors

  o 'MackChainLadder' estimates the overall standard error for the total IBNR
		
  o New arguments 'tail' and 'est.sigma' for MackChainLadder, to control 
    the tail factor and the estimation of sigma_{n-1}

  o New arguments 'tailP', 'tailI' and 'est.sigmaP', 'est.sigmaI' for
    'MunichChainLadder', which are passed on to 'MackChainLadder' to control 
    the tail factor and the estimation of sigma_{n-1} for the Paid and 
    Incurred triangle

  o 'Mack-, 'Munich-, and 'BootChainLadder' accept (mxn) matrices with m>=n,
    e.g more accident years than development years

  o New example data sets: 'ABC' (annual run-off triangle of a worker's 
    compensation portfolio of a large company), 'qpaid', 'qincurred' ('made-up'
    data of a quarterly development triangle of annual origin period)
	
  o Triangles with higher development period frequency (e.g quarterly) than 
    origin period frequency (e.g annual) can be used after being 'blown-up'
    to a common period frequency, see the help of 'qpaid'

  o 'Mack-, 'Munich- and 'BootChainLadder' accept 'blown-up' triangles of 
    higher development period frequency than origin period frequency filled 
    with 'NA', see the help of 'qpaid'

USER-VISIBLE CHANGES

  o summary functions for 'Mack-, 'Munich-, 'BootChainLadder' give all a list 
    back with two elements: 'ByOrigin' and 'Totals'	
 
  o Change of labels: origin years -> origin period and development years ->
    development origin

  o Coefficient of Variance is abbreviate with 'CV' instead of 'CoV'

  o The example spreadsheet 'ChainLadder_in_Excel.xls' has new examples, 
    including 'BootChainLadder'

  o New greeting message after the R-call 'library(ChainLadder)'

  o Improved documentation

BUG FIXES

  o 'MunichChainLadder': calculation of 'lambdaP' and 'lambdI' was incorrect. 
    Thanks to Beat Huggler for reporting this issue.
