Browse Research
Viewing 4276 to 4300 of 7690 results
1996
Managed care is becoming an integral part of workers compensation claims management. Some techniques are being implemented internally by insurers, whereas other services are being provided by outside vendors. As part of the introduction of managed care, insurers are beginning to use compensation arrangements with medical providers and managed care networks other than the traditional fee-for-service basis of reimbursement.
1996
This paper describes the structure and purposes of the eight parts of Schedule F. It also describes the relationship of the Schedule to other statutory statements. To illustrate the procedures for completing various parts of the Schedule it provides numerical examples.
1996
We consider three classes of bivariate counting distributions and the corresponding compound distributions. For each class we derive a recursive algorithm for calculating the bivariate compound distribution.
1996
As a line of business, workers compensation has undergone many significant changes in the last few years. Key elements at the forefront of change include the following: Increased levels of retained exposure by employers; Rapid growth in managed care initiatives; and State enactment of comprehensive system reforms.
1996
Chapter headings:
Introduction
Basic Terminology
The Ratemaking Process
Trended, Projected Ultimate Losses
Expense Provisions
Profit and Contingencies
Overall Rate Indications
Classification Rates
Increased Limits
Summary
Ratemaking Questions for Discussion
Appendix
1996
It is appealing to estimate loss discount rates and risk loads for categories of an insurer’s premium by using the categories’ contributions to surplus variation. However, as will be explained, there has been a theoretical obstacle to this approach. This paper presents a method that overcomes the obstacle. It produces a surprisingly simple result.
1996
The idea of estimating loss discount rates and risk loads for categories of an, insurer’s premium by using the categories’ contributions to surplus variation is an appealing one. However, there has been a theoretical obstacle to this approach, as will be explained in this paper. A method which overcomes the obstacle will be presented. It produces a surprisingly simple result.
1996
Over the past ten years the insurance industry has developed and introduced an Employment Practices Liability (EPL) policy to cover employers against allegations of wrongful employment practices (discrimination, sexual harassment or wrongful termination).
1996
This paper examines a class of premium functionals which are 0) ecomonotomic additive and (u) stochastic dominance preservative. The representation for this class is a transformation of the decumulative distribution function. It holds close connections with the recent developments in economic decision theory and non-additive measure theory.
1996
Reinsurance Research - Loss Distributions, Size of
1996
This paper shows how a multivariate Bayes estimator can be adjusted to satisfy a set of linear constraints. In the direct approach, the constraint is enforced by a restriction on the class of admissible estimators. In an alternative approach, the constraint is merely encouraged by a mixed risk function which penalizes misbalance between the estimator and the constraint.
1996
We give 2 explicit formulae for the hedging portfolio of Asian options. One is based on the usual Lognormal approximation, and the other on an Inverse Gaussian approximation. Both give excellent results as replicating strategies when the parameters of the model are in a reasonable range.
1996
In the present note we deduce a class of bounds for the difference between the stop-loss transforms of two compound distributions with the same severity distribution. The class contains bounds of any degree of accuracy in the sense that the bounds can be chosen as close to the exact value as desired; the time required to compute the bounds increases with the accuracy.
1996
The concept of multifactor portfolio efficiency plays a role in Merton's intertemporal CAPM (the ICAPM), like that of mean-variance efficiency in the Sharpe-Lintner CAPM. In the CAPM, the relation between the expected return on a security and its risk is just the condition on security weights that holds in any mean-variance-efficient portfolio, applied to the market portfolio M.
1996
Previous work shows that average returns on common stocks are related to firm characteristics like size, earnings/price, cash flow/price, book-to-market equity, past sales growth, long-term past return, and short-term past return. Because these patterns in average returns apparently are not explained by the CAPM, they are called anomalies.
1996
Recursions are derived for a class of compound distributions having a claim frequency distribution of the well known (a,b)-type. The probability mass function on which the recursions are usually based is replaced by the distribution function in order to obtain increasing iterates. A monotone transformation is suggested to avoid an underflow in the initial stages of the iteration.
1996
The process of estimating loss costs for risks in the alternative market is most often based on the loss experience of either the individual member, the group as a whole, or some combination of the two. This paper will outline a model used successfully over the past nine years for more than a dozen captive insurance companies.
1996
This paper discusses the development of a dynamic financial planning model of a Property and Casualty insurer. The model provides management with a tool to instantaneously determine the impact of various actions on key financial ratios. It has helped management analyze pricing, reserving, catastrophe and investment risks.
The theoretical basis of the model is the accounting equation (Assets = Liabilities + Surplus).
1996
In this paper I describe several approaches for estimating liabilities under a high deductible program, including a proposal for a more sophisticated approach relying upon a loss distribution model. The discussion addresses several related issues dealing with deductible size and mix, absence of long-term histories, and the determination of consistent loss development actors among deductible limits.
1996
Models of price formation in securities markets suggest that privately informed investors create significant illiquidity costs for uninformed investors, implying that the required rates of return should be higher for securities that are relatively illiquid. We investigate the empirical relation between monthly stock returns and measures of illiquity obtained from intraday data.
1996
LOB – Workers’ Comp
