Chapter 1--Principles of Ratemaking

Chapter from Foundations of Casualty Actuarial Science textbook. This chapter will deal with the basic actuarial methods and assumptions underlying the development of manual rates. While a complete treatment of the subject might well fill several books, the key elements will be covered to such an extent that the reader of this chapter will gain an understanding of the basic actuarial concepts and techniques involved in the review and analysis of manual rates for property and liability coverages.