Browse Research
Viewing 5726 to 5750 of 7690 results
1982
Taylor's response to Zehnwirth's discussion of the See-Saw method. One of the problems mentioned in that discussion is the necessity of forecasting future claims closing rates. Taylor discusses the "invariant" method which overcomes this problem.
1982
1982
According to the author, the purpose of this paper is "to present a summary of the adjustments that have been made in the basic limits ratemaking methodology [in the fourteen years since Jeffrey T. Lange wrote "General Liability Insurance Ratemaking"] and the reasons for their introduction." The author has accomplished this stated purpose.
1982
In the past there has been much discussion about the definition of probable maximum loss (PML), but little attention has been given to its quantification. This paper introduces the concept of order statistics as a tool to use in estimating the PML. Two different approaches, that of X(n), the largest sample value, and that of quantiles, lead to six specific methods to estimate the PML.
1982
In the past there has been much discussion about the definition of probable maximum loss (PML), but little attention has been given to its quantification. This paper will introduce the concept of order statistics as a too1 to use in estimating the PML. Two approaches will be used that will lead to six specific methods for estimating the PML. These six methods will then be illustrated with specific examples.
1982
Part I
Two premium calculation principles by negotiation. Using, as main tools, the classical risk exchange model by Borch and the bargaining models of Nash and Kalai-Smorodinsky, we define two new premium calculation principles, whose main goal is to take explicitly into account the attitude towards risk of the policy-holders.
1982
In case of a stop-loss treaty the reinsurer takes over that part of the risk that exceeds a given amount y1. We will deduce bounds on a modified stop-loss treaty where the liability of the reinsurer is limited to y2 - yl in case the claim amount exceeds y2. Upper and lower bounds of this modified stop-loss premium are obtained as a simple application of results obtained earlier by the first author.
1982
The paper gives some asymptotic results for the compound distribution of aggregate claims when the claim number distribution is negative binomial. The case when the claim numbers are geometrically distributed, is treated separately.
1982
We provide a list of best upper bounds on the stop-loss premium E(X−t)+ corresponding to the risk X and the retention limit t. Various information (moments, unimodality, symmetry,…) on the distribution F of X is taken into account.
1982
Mr. Sturgis's paper presents a comprehensive model for the actuarial valuation of a property/casualty acquisition candidate. As he points out, this topic is a new one to our Proceedings; it is therefore also likely to be a new topic to many members of the profession. Mr. Sturgis's paper presents another example of the expanding role of the property/casualty actuary and actuarial techniques in insurance and in the general economy.
1982
Classifications/LOB-Auto Physical Damage
1982
The valuation of property/casualty insurance companies is a topic that has been neglected in the actuarial, financial, and economic communities. As Mr. Sturgis points out, there has been a notable increase in property/casualty insurance company acquisition and merger activity. Hence, his paper represents a needed and timely addition to the existing body of literature, and we hope that it provides the impetus for further research in this area.
1982
Often when several goods or services are produced by a common process or organization some estimate of the per-unit costs of these goods is required. In this note we consider cost allocation procedures and show that there is exactly one such procedure which possesses four desirable properties. Both the methods and the result were inspired by the recent work of Aumann and Shapley on nonatomic games.
1981
This paper uses the same notations and some of the results of BATON and LE~IAIRE (1981). The reader is referred to that work for more details about the classical risk exchange model, which will not be recalled here. The main result of that former paper was to characterize the core of the market in the case of exponential utdities, and to show that it is never empty.
1981
The Esscher premium principle has recently had some exposure, namely, with the works of BUHLMANN (1980) and GERBER (1980) BUHLMANN (1980) devised the principle and coined the name for it within the framework of utility theory and risk exchange. GERBER (1980), on the other hand, gives further insight into the principle by studying it within the realm of forecasting in much the same spirit as credibility theorists forecast premiums.
