Estimating Casualty Insurance Loss Amount Distributions

It is often necessary to estimate probability distributions to describe the loss processes covered by insurance contracts. For example, in order that the premium charged for a particular contract be correct according to any reasonable premium calculation principle, it must be based upon the underlying loss process for the contract. Practically, it is impossible to know the true underlying loss process, but a reasonably accurate estimate of this process can provide the basis for a reasonable accurate premium. One may discuss the loss process for an individual insured with a single coverage provided by a single contract, or for a group of insureds with multiple coverages provided by many contracts. Reinsurance Research - Loss Distributions, Size of, Claim Size Modeling/Loss Distribution; Increased Limits/Excess of Loss