Browse Research
Viewing 4251 to 4275 of 7690 results
1996
This paper discusses issues that arise when using dynamic financial models to assist in the management of a property/casualty insurer's investment portfolio. There are three areas covered in this paper. The first discusses how much detail should be included on the asset side of a dynamic financial model in order to make it useful in making investment decisions.
1996
This paper explains the procedures used to incorporate a hurricane model into the development of state loss costs by territory for personal property and state loss costs by territory and construction class for commercial property. It explains why a modeling approach was used to estimate losses for hurricane perils.
1996
Textbook used for Exam 5 -
Chapters on:
Workers Compensation and Employers Liability Insurance
Excess and Umbrella Liability Insurance
1996
The catastrophe losses caused by Hurricane Andrew and the Northridge Earthquake are leading many actuaries to reconsider their pricing formulas for insurance with a catastrophe exposure. Many of these formulas incorporate the results of computer simulation models for catastrophes. In a related development, many insurers are using a geographic information system to monitor their concentration of business in areas prone to catastrophic losses.
1996
Data Administration Including Warehousing & Design (general or introductory)
1996
Chapter headings:
Introduction
Reinsurance Pricing
Reinsurance Loss Reserving
Appendices
1996
For many years now, a theoretical war has been raging on the subject of risk loads. Some favor the classical premium calculation principles, such as the standard deviation principle, the variance principle or the expected utility principle. Others favor the modern portfolio theories, represented most often by the Capital Asset Pricing Model, as known as the CAPM. Mr.
1996
Keyword: Workers Compensation
1996
Actuaries have developed a host of techniques for producing point estimates of indicated reserves. Current regulatory concerns, as reflected in the NAIC’s risk-based capital requirements, and developing actuarial practice, as reflected in the American Academy’s vision of the future role of the Appointed Actuary, now stress the uncertainty in the reserve estimates in addition to their expected values.
1996
The location of a risk is an important rating variable in most lines of insurance. The aggregate loss experience of similarly located risks is needed in order to determine an appropriate rate for a particular area. A geographic information system (GIS) can be used to estimate the geographic component of insurance risk at any location.
1996
For fifteen years, academicians peering into insurance ratemaking have led us on a chase of underwriting betas, in pursuit of economic and normative notions of “equilibrium rates of return” and “fair rates of return.” Underwriting betas, we were told, would elevate actuarial ratemaking to financial pricing—if only we could grasp hold of these will-o’-the-wisp emanations from modern portfolio theory.
1996
In this paper, we first find an expression for the mean and the variance of the IBNR claims in a lognormal linear regression model, of which the chain ladder model is considered as a special case.
1996
This paper addresses a variety of pricing issues faced by a Third Party Administrator (TPA) whose main responsibility is claims handling for self-insured employers and self-insured groups. These issues include the development of service fees using claim closure information, the selection of service durations, and the design of incentive (either activity-based or financially-based) service contracts.
1996
Actuaries are well aware that good rate making and reserving involves the estimation not only of expected values, but also of variances. Moreover, they frequently are concerned with the present value of their estimates. These two matters, the statistical matter of estimation and the financial matter of present value, are especially important when actuaries evaluate self-insurance funds for workers’ compensation.
1996
Chapter headings:
Measurement, Allocation, and Uses of Surplus
Insurer Solvency Issues
Risk Theory
Planning and Forecasting
Data Sources
1996
In the present note we consider the Hipp approximation to the convolution of a finite number of probability distributions on the non-negative integers It is shown that the moment up to and including order "r" of the "rth" order approximation are equal to the corresponding moments of the exact distribution.
1996
Actuaries are increasingly utilizing simulation models in a variety of practical applications. Most of these applications have focused on the future operating results and financial condition of an insurance company. These simulation models are also applicable in the risk management field, focusing on the financial consequences of self-insurance.
1996
The article documents a selection of “Notes to the Financial Statements,” which expand upon the exhibits and schedules in the Annual Statement, that are of particular importance to the casualty actuary. Topics covered include reinsurance recoverable, structured settlements, uncollectable reinsurance, commutation of ceded reinsurance, retroactive reinsurance, accrued retrospective premiums, discounting, and asbestos/environmental reserves.
1996
Chapter headings:
Introduction
Relationship to Other Rating Mechanisms
Criteria for Selecting Rating Variables
Examples of Classification Systems
Measures of Efficiency
Estimating Class Relativities
Summary
1996
Residual market plans often review their rates based on the experience of the plans themselves. The typical result is an indication for a large increase, which the regulator then judgmentally reduces. To the extent that equilibrium exists between voluntary and residual markets, it results from ignoring the indications. Plans’ experience can call for rate decreases as well as increases, especially with no allowance for profit.
