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Viewing 7676 to 7690 of 7690 results
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Currently, there are five major data collection programs at NCCI.
Annual Financial Call Data – Aggregate premium and loss data (experience by state) primarily used to calculate overall loss cost and rate level changes.
Workers Compensation Statistical Plan (WCSP) Data – Individual policy loss and exposure (payroll) information collected with detail by classification, primarily used to calculate loss cost relativities and experience rating modif
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The paper provided by Mr. Morison gives us an excellent chronological summary of the progress and results of the 1965 expense study by size. This paper will remain a permanent record for members and students alike of the Casualty Actuarial Society of the difficult and time-consuming labors performed to bring the study to completion.
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Mr. Morison has given his account from the inside of the industry activities relating to the study of workmen’s compensation expenses by size of risk.
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This report is a chronological presentation of the steps taken from the time of the first indication that a study of expenses was in the offing until, three years later, the deliberations of no less than six committees culminated in a complete revision of the expense provision used in workmen’s compensation ratemaking.
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It is certainly gratifying to men in the accident and health business to see three papers on that subject presented at one meeting of this Society. Mr. Miller in his paper has gone back to the origin of non-cancelable health and accident insurance in this country and, therefore, his paper should be of particular value to students of that subject.
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Certain losses, the incident of which are unforeseen, do or may, sooner or later, fall to the lot of the individuals comprising any group of men. The chief function of insurance is to distribute these losses among all the members of the group so that no great strain will be borne by any individual.
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The authors of the very thorough and illuminating paper which is before us for discussion have indicated the explanatory character of their work by its title. Hence, any discussion of it should be limited to the effectiveness with which they have bridged the gap between themselves, thoroughly familiar with every step of the process, and the reviewer, seeing only the final result.
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A schedule rating plan as an instrument of rating a risk for workmen's compensation insurance should establish the relativity of hazard between individual risks of the same manual classification to the extent that the physical condition of the risk influences its experience. How far the Industrial Compensation Rating Schedule does accomplish this purpose is a matter of conjecture.
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We are now experiencing an era of automobile liability ratemaking in which it is an absolute necessity that adequate territorial rates be established and maintained. In developing rates by territory the question of what experience is to be used is definitely a major factor.
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Automobile registrations in the United States now exceed 67,000,000, an increase of 270% in the last three decades. The premium for bodily injury and property damage liability insurance has increased from $250 million to more than $3.0 billion during the same period.
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The insurance industry currently discusses to which extent they can integrate an illiquidity premium into their best estimate considerations of insurance liabilities. The present position paper studies this question from an actuarial perspective that is based on marketconsistent valuation. We conclude that mathematical theory does not allow for discounting insurance liabilities with an illiquidity spread.
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We argue against the use of an illiquidity premium based on our understanding of market consistent valuation.
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Purpose - This paper examines a new insurance policy against natural catastrophes. This paper proves the market for insurance could grow with a combination of participating contracts and market-based instruments. The first cover individual risks while the second cover systematic risks. Design/methodology/approach - We propose an optimisation model, which involves both the insurer and the farmer.
