Browse Research
Viewing 4301 to 4325 of 7690 results
1996
Chapter headings:
Introduction
Accounting Concepts
Claim Department Reserving Activity
An Actuarial Model of Loss Development
The Loss Function
Development
Fitting a Model
Practical Challenges
Loss Reserving Definitions
Data Availability and Organization
Reserve Estimation Strategy
Exploratory Data Analysis
Loss Reserve Estimation Methodologies
Loss Adjustment Expenses
Evaluation of Ultimate Loss Estimates
Miscellaneous Topics
1996
This paper provides an introductory set of lectures on the subject of Kalman filtering and least squares estimation and its connection to Bayesian estimation and recursive estimation. Applications to loss reserving as a way of overcoming multicollinearity problems are also given.
1996
Chapter headings:
Investment Income
Investment and Tax Strategies
Rate of Return Measures
Impact of Investment Income on Pricing
1996
Actuaries and other financial analysts have had difficulty interpreting the voluminous data that is typically output by a dynamic financial model. This paper illustrates the use of the decision-theoretic approach of Borch (1962) and Van Slyke (1995) to produce a simple illustration of the meaning of the results of 10,000 simulations of the financial results of a reinsurance program.
1996
The authors test the conditional CAPM for the world's 8 largest equity markets using a parsimonious generalized autoregressive conditional heterskedasticity (GARCH) parameterization.
1996
The advent of risk-based capital requirements and the potential expansion of the role of the Appointed Actuary demand expertise in evaluating the financial stability of insurance enterprises. Because of the growth of property/casualty loss reserves and the wide fluctuations in interest rates during the past two decades, asset-liability management is of increasing importance for casualty actuaries.
1996
LOB – Homeowners
1996
Increased Limits (Insurance to Value) / Excess of Loss
1996
Chapter headings:
Introduction
Prospective Systems
Retrospective Rating
Designing an Individual Risk Rating System
Summary
1996
Simple analytical lower and upper bounds are obtained for stop-loss premiums and ruin probabilities of compound Poisson risks in case the mean, variance and range of the claim size distribution are known. They are based on stop-loss external distributions and improve the bounds derived earlier from dangerous extremely distributions.
1996
LOB – Workers’ Comp
1996
This paper describes a geographic ratemaking procedure that does not require territories or territory boundaries. The procedure develops a unique rate for every point on the map. The result can be visualized as a smooth surface over a map, with the height of the surface at any point representing the rate for that point.
1996
For many years the Insurance Services Office (ISO) has classified the fire protection offered by communities for all but the largest cities based upon a complex engineering study of communities’ fire departments, water pressure and availability, and communications facilities. These protection classes are used in making rates for homeowners insurance and commercial property insurance.
1996
There is a duality between the surplus process of classical risk theory and the single-server queue. It follows that the probability of ruin can be retrieved from a single sample path of the waiting time process of the single-server queue. In this paper, premiums are allowed to vary. It has been shown that the stationary distribution of a corresponding storage process is equal to the survival probability (with variable premiums).
1996
Daykin, Pentikainen, and Pesonen (as well as other authors) have described the elements that can comprise a dynamic financial model of a property/casualty insurer and have discussed options for several important elements where different approaches are reasonable.
1996
The Securities and Exchange Commission (SEC) and state insurance departments have added increased disclosure requirements for companies with environmental and asbestos (E&A) exposures. The first section of the paper reviews the new disclosure requirements for insurance companies and outlines benchmark ratios which rating agencies and regulators will use to measure E&A reserve adequacy.
1996
The correlation order, which is defined as a partial order between bivariate distributions with equal marginals, is shown to be a helpful tool for deriving results concerning the riskiness of portfolios with pairwise dependencies. Given the distribution functions of the individual risks, it is investigated how changing the dependency assumption influences the stop-loss premiums of such portfolios.
1996
Introduced primarily as a marketing tool, free tail coverage is becoming a standard feature of claims-made insurance policies and is increasingly being used for medical malpractice and other forms of professional liability exposures. In addition, as of December 3 I, 1993 the NAIC is requiring that reserves be established to recognize this exposure, further elevating the need for proper pricing and reserving.
