Browse Research
Viewing 6101 to 6125 of 7690 results
1975
In a recent paper on the theory of demand for insurance Arrow [I] has proved that the optimal policy for an insurance buyer is one which gives complete coverage, beyond a fixed deductible. The result is proved under very general assumptions, but its content can be illustrated by the following simple example.
1975
The problem In practical statistical work one frequently meets certain problems. For instance, we may have the following data about loss ratios in certain insurance companies and corresponding numbers of insurance in force:
1975
Mr. Ferguson's paper is certainly timely as inflation and its effects have assumed a new prominence in our midst. It has long been recognized, in literature as well as in practice, that proper accounting for inflationary trends is a necessity in maintaining the actuarial balance of the primary insurer's rate levels. This has also been reorganized by the excess writer.
1975
Mr. Ferguson has done such a thorough job of discussing the effects of inflation on the insurance business. and explaining all the ramifications of the index clause, which is one of the solutions to the inflation problem, that there is little for a reviewer to comment on. Nevertheless, there are practical aspects of the problem that interest this reviewer and that may be useful as a supplement lo Mr. Ferguson’s paper.
1975
Mr. Ferguson has presented to the Society a paper which has universal appeal to the membership of the Society as well as those in the industry not necessarily technically involved. This paper has an exceptional blend of academic, technical and practical substance.
In his diagnosis and prognosis, Mr. Ferguson presents the problem of inflation from the standpoint of economic theory and from its manifestation in everyday life.
1975
The problem of the best f it to set ideal values under general inequality order restrictions is examined for asymmetric, quadratic, absolute, and Chebyshev norms.
1975
By intuition, the subdivision of an insurance portfolio into a number of classes is said to be good if it reflects the heterogeneity of the portfolio in an efficient way. To illustrate this rather vague statement we take the following very simple example: The portfolio consists of 20 independent risks, IO of them producing an expected loss ratio of say 30% each (type A risks) and 80% each (type B risks) respectively.
1975
In his paper to the Tenth ASTIN Colloquium the author presented generalized extreme value techniques for making use of all large losses that are available for analysis and not merely the largest. In this paper the problem of assessing the relative contributions of various factors to fire losses is investigated. A model concerned with multiple regression with extreme observations of given rank is developed.
1975
In recent times, the subject of deductibles in Industrial Fire insurance has gained significance to an increasing extent. In fact, up to a short time ago it was by no means common to apply deductibles in industrial Fire insurance in Europe. The situation is entirely different in the USA where deductibles are the usual thing and are even obligatory with individual risk categories (e.g. petroleum refineries), hazards (e.g.
1975
On 12 February 1974, a limited no-fault insurance system was introduced to cover persons killed or injured in road accidents in Victoria, Australia.
1975
In 1967, Buhlmann has shown that the credibility formula was the best linearized approximation to the exact Bayesian forecast.
1975
Class Rating, Credibility
1974
The approach taken in this paper is a little different from some other ratemaking papers in that no specific historical development was attempted. The only historical background felt to be needed was the “invention” of the homeowners policy in the 1950’s and the introduction of a more detailed statistical plan in the 1960’s.
1974
Recent workmen’s compensation underwriting experience has been unprofitable for the insurance industry. Traditional methods of analyzing experience have failed to yield a clear-cut explanation of this trend. This, combined with our company’s emphasis on planning and forecasting, caused us to initiate this project: to apply regression analysis techniques in an effort to explain past results and forecast future results.
1974
Credibility theory is concerned with the problem of forecasting the mean performance (dana1 frequency, total losses, etc.) of an individual risk, selected from a collective of heterogeneous risks, based upon the statistics of the collective, and upon t h e individual's experience data.
1974
The distribution of the sum of "n" mutually independent random variables with a common distribution f(x) plays an important role in many insurance problems. The paper presents alternative methods of deriving the distribution of the sum of n random variables when f(x) is mixed density and mass function. The methods are illustrated and compared.
Reinsurance Research - Loss Distributions, Size of
1974
General design and analysis of computer algorithms.
1974
Stimulated by the paper of W. S. Jewell *) on multidimensional credibility I should like to show t h a t at level 2 assumptions (Jewell's terminology) one can obtain explicit formulae for forecasting total losses in the future based upon total losses and number of claims observed in the past.
1974
A few years ago Scurfield (JSS .18) indicated a method used in one U.K. non-Life Office for estimating claims liability for the Motor class of business. Since that paper was written a considerable amount of development has taken place and it is now used in the office as an effective continuous method, using computer techniques, for estimating claims liability.
1974
Once upon a time there was an artillery captain who was told by his commanding officer to shell the enemy. “Yes. Sir.” said the captain, “but where, pray tell, is the position of our enemy?” “It is your job to determine that position,” said the commanding officer. who then turned and walked away.
The captain was perplexed and upset for LI moment. but soon he recovered his composure and set about proving that he was worthy of his position.
