Browse Research
Viewing 6051 to 6075 of 7690 results
1976
Loss ratio ratemaking is an important actuarial technique, especially for actuaries working with less sophisticated data than is available to a rating bureau; and despite the movement toward pure premium ratemaking, loss ratio ratemaking is still essential for several lines of business.
Exposure Bases/General/Premium Analysis
1976
This paper explores the problem of estimating the basic limits trend once the overall trend has been determined. Although the log-normal, is used for numerical examples, it can be expected that the general conclusions hold for most actual claim size distributions.
1976
The aim of this paper is to initiate a discussion between actuaries, accountants, the Department of Trade and others working in insurance on our basic concepts, language, methods and aims. We need to discuss concepts and to agree on language in order to be able to discuss methods and aims.
1976
This paper presents an approach to the estimation of loss costs by layer of insurance coverage. This method uses the log-normal probability distribution as a model for claim sizes. Although the approach has been successfully applied to several different lines of liability insurance, it may not be applicable to property insurance.
1976
The actuarial analysis of loss reserve developments begins by analyzing the patterns in historical claim data. Implicitly this analysis proceeds from a variety of assumptions, which may or may not be acknowledged or tested. By projecting loss reserves from historical data, the analyst is essentially using a mathematical model. This paper presents a general approach aimed at developing and exploring as many alternative models as possible.
1976
Mr. Robert J. Finger in his paper "Estimating Pure Premiums By Layer - An Approach" suggests that the log-normal probability distribution function can be used as a model for the distribution of single claim in many instances. Use of the log-normal is based on sound statistical theory and has already been applied to numerous actuarial problems.
1976
Investment Income, Profit Factor, Rate of Return
1976
Deductibles/LOB-Property
1976
This paper presents a method for calculating excess loss premium factors (ELPF's). Applying the ELPF to the standard premium determines the premium required to cover losses in excess of a given per accident limitation.
The ELPF is essentially calculated in two phases. First, claim size distributions are required for three types of claims: deaths, permanent total disabilities and major permanent partial disabilities.
1976
The need for changes in retrospective rating plan accident limitation charges has been apparent for some time.
This paper describes recently adopted recommendations of the National Council on Compensation Insurance for developing such charges. The charges for accident limitations are familiarly known as Excess Loss Premium Factors or ELPF's.
1975
The purpose of this paper is to provide a current look at workers’ compensation ratemaking procedures employed by the National Council on Compensation Insurance. The paper has been long delayed since notable changes were anticipated both in determining rate level and classification rates. In 1974 the use of policy year aggregates in rate level calculations was introduced.
1975
It has long been recognized that loss reserving is, or should be, within the domain of the Casualty Actuary; but in no other area have we applied our expertise with as little success. WC have devised classification systems which generate unique automobile insurance rates for single female farmers living in Manhattan and we have developed so many formulae for partial credibility that we arc in danger of losing ours.
1975
This paper tells how regression analysis wax used to relate Workers’ Compensation premiums and losses to various economic variables. Messrs. Lommele and Sturgis conducted a lengthy and complex study combining statistical and actuarial techniques and finally arrived at three models that they considered acceptable.
1975
A diminishing number of Reinsurers still seem to work with percentage loadings which are applied with more or less sophistication to the pure risk premium rate. A more sensible approach is to study the distribution of the total claims amount of the layer reinsured (standard deviation, variance, skewness).
1975
In order to motivate the series of Monte Carlo simulations we have carried out in the following article we would like readers to imagine that a small rural casualty insurance company, the Farm Fire and Flood Damage Ins. Co. (FFFDIC), is to be bought by an entrepreneur (whom we shall designate by EP) provided his consulting actuary (the author of this article) can satisfy his requirements which are as follow
1975
Reinsurance Research
1975
For the 4th ASTIN colloquium in Trieste (I963) Robert E. Beard [11 had initiated the topic of extreme value theory and its application to actuarial problems. The impetus came from Gumbel's book [2], published in 1958, and the idea of applying extreme value theory ran about as follows:
1975
The concept of utility is twofold. One may think of utility:
I) as a tool to describe a "fair game"
2) as a quantity that ought to be maximized.
The first line of thought was initiated by Daniel Bernoulli in connection with the St. Petersburg Paradox.
1975
Reinsurance Research - Risk Loads/Profitability
