Browse Research
Viewing 5651 to 5675 of 7690 results
1983
LOB-Auto Physical Damage/Regulation
1983
Profit Factor/Rate of Return/Risk/Regulation
1983
This paper primarily discusses one quantitative excess of loss reinsurance pricing technique. European actuarial literature of the 1960’s explores mathematical utility theory in the context of insurance. Recently, Freifelder and Cozzolino have written about exponential utility’s value in pricing. This paper explores the relationship between wealth, reinsurance dollars and retention/cession.
1983
Profit Factor/Rate of Return/Risk/Regulation
1983
This paper describes a major refinement in methods of allocating general account investment income among lines of business, termed "segmentation." In a narrow sense, this is one more step in the evolution of the investment-year method; in a broader sense, segmentation provides the opportunity for major modifications in the structure and management of insurance company general accounts.
1983
Distribution functions are introduced based on power transformations of beta and gamma distributions, and properties of these distributions are discussed. The gamma, beta, F, Pareto,, Burr, Weibull and loglogistic distributions are special cases. The transformed gamma mixed with a gamma yields a transformed beta. The transformed gamma is used to model aggregate distributions by matching moments.
1983
Utility theory is discussed as a basis for premium calculation. Desirable features of utility functions are enumerated, including decreasing absolute risk aversion. Examples are given of functions meeting this requirement. Calculating premiums for simplified risk situations is advanced as a step towards selecting a specific utility function. An example of a more typical portfolio pricing problem is included.
1983
Classifications
1983
Reinsurance Research - Loss Distributions, Size of
1983
Loss reserving plays an important role in safeguarding a casualty insurance company's solvency. The specific role, however, depends upon the size of the carrier. For example, the primary threat to the surplus of most large, multiline insurers is the sudden and unanticipated development of losses from prior accident years.
1983
A series of studies by the Department of Transportation in the 1960's and early 1970's first popularized analysis of automobile insurance experience through accident proneness models. Unlike many actuarial approaches which tend to be empirical and. emphasize practical interpretations, accident proneness models tend to be heavily theoretical and often prove difficult to interpret on a non-technical level.
1983
1983
With the increased importance of utilizing quantitative analysis in risk management decision-making, Miss Wilkinson’s paper should provide our profession with a valuable use of the concept of probable maximum loss (PML), a term that has been a fixture of the insurance vernacular for decades.
1983
It is always refreshing to see new thinking. This paper introduces to our Proceedings an approach-order statistics-that has not before been mentioned there as far as I can find. It would be most welcome if all our papers, as this and many others do, contained clear examples of how to apply practically the new ideas or techniques they propose. Miss Wilkinson is to be complimented for giving us this example of how to use examples.
1983
My paper was originally written for the May, 1982, Casualty Actuarial Society Discussion Paper Program “Pricing, Underwriting and Managing the Large Risk.” Mr. Beer reviewed my paper at that time. His discussion so enhanced my paper that I made my submission to the Proceedings conditional on his agreement to submit his discussion. Mr.
1983
This paper illustrates the financial problems which can arise in an environment of changed interest rates if the maturities of a company's assets and liabilities are significantly different, and describes how the company can reduce he impact of such mismatch risk by immunizing its asset portfolio.
1983
Increased Limits/Excess of Loss/Reinsurance
1983
Examination of two main issues related to the discounting of insurance claim. The question of whether insurance enterprises should present incurred claims (and claim adjustment expenses) at the present value of anticipated net cash payments is discussed. The differences between life and property/casualty claims are presented, as well as the present discounting practices. The advantages and disadvantages of discounting are examined.
