---
title: "Terminology"
output: rmarkdown::html_vignette
vignette: >
  %\VignetteIndexEntry{Terminology}
  %\VignetteEngine{knitr::rmarkdown}
  %\VignetteEncoding{UTF-8}
---

```{r, include = FALSE}
knitr::opts_chunk$set(
  collapse = TRUE,
  comment = "#>"
)
```

A brief glossary and description of some terms is provided below. Further detail can be found from a paper by the Casualty Actuarial Society [here](https://www.casact.org/pubs/forum/17spforumv2/02_Notes%20on%20Using%20Property%20Catastrophe%20Model%20Results.pdf)

***

 - **ELT** : a table with event details from the RMS catastrophe model.
 
 - **YLT** : a table with event losses by year and event 
 
 - **OEP** : probability of a loss of a given size or larger in a year
 
 - **AEP** : probability of total losses in a year of a given size or larger.
 
 - **Primary Uncertainty** : whether an event happens or not
 
 - **Secondary Uncertainty** : given an event happens the uncertainty in the size of the loss