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Viewing 5351 to 5375 of 7695 results
1988
This article studies random variables whose stop-loss rank falls between a certain risk (assumed to be inter-valued and non-negative, but not necessarily of life insurance type) and the compound Poisson approximation to this risk. They consist of a compound Poisson part to which some independent Bernoulli-type variables are added.
1988
The intent of this paper is to present an introduction to Collective Risk Theory for the first time reader and considerations in applying that theory to estimate variability in loss reserves. It begins with a brief introduction to the basic concepts of Collective Risk Theory along with a survey of some of the techniques developed to date to estimate the aggregate distribution of losses.
1988
We model loss development by starting with percent of ultimate curves which explicitly depend on the underlying pattern of exposure accumulation. We express such curves in general as a convolution of a "generating" function with an "exposure" density function.
1988
Adjusting Incurred Loss for Simultaneous Shifts in Payment Patterns and Case Reserve Adequacy Levels
This paper presents how l) changes in payment patterns affect both the incurred development projection and the paid development projection, 2) how changes in payment patterns can mask or falsely imply changes in case reserve adequacy levels, and 3) how to test, analyze and correct for these changes.
1988
From the period between 1980 thru 1984, the insurance industry in the United States was in the midst of a period of extreme price competition. This competition, was fueled by unusually high interest rates which suggested that market share and cash flow would more than overcome any statutory price inadequacies.
1988
Fall 1988 These files are in Portable Document Format (PDF), you will need to download the Acrobat Reader to view the articles. Table of Contents Download Entire Volume 1939 Presidential Address Varying Trend Factors By Size Of Loss Recent Developments In Reserving For Losses In the London Reinsurance Market
1988
Spring 1988 These files are in Portable Document Format (PDF), you will need to download the Acrobat Reader to view the articles. Table of Contents Download Entire Volume
1988
Property-liability loss reserves have been historically maintained at full, undiscounted value while life insurance reserves are discounted. Proponents of the undiscounted value argue that, unlike P/L loss reserves, life insurance benefits are relatively certain and thus more amenable to discounting, since the liability is more likely to be realized.
1988
An analysis indicates that data on accounting earnings, when averaged over many years, can help predict the present value of future dividends. This holds true even when stock prices are taken into account. The analysis uses the real Standard and Poor Composite Index and associated dividend and earnings series 1871-1987. The imprecise nature of earnings data means many studies of financial time series avoid using them.
1988
A dividend-ratio model is introduced here that takes the log of the dividend-price ratio on a stock linear in optimally forecast future one-period real discount rates and future one-period growth rates of real dividends. If ex post discount rates are observable, this model can be tested by using vector autoregressive methods. Four versions of the linearized model, differing in the measure of discount rates, are tested for U.s.
1988
An asymptotic principal-components technique is used to estimate the pervasive factors influencing asset returns and to test the restrictions imposed by static and intertemporal equilibrium version of the arbitrage pricing theory (APT) on a multivariate regression model. The techniques allow for fairly arbitrary time variation in risk premiums.
1988
Discounting loss reserves has become a central issue for property-liability insurers as a result of several developments. The Tax Reform Act of 1986 (TRA) requires property-liability insurers to discount loss reserves at a set rate to determine tax liabilities. Conversely, statutory accounting standards do not allow discounting of loss reserves in most instances.
1987
A wealth of practical information on simulation. General design of simulation models, variance reduction, output analysis, choice of input distributions, uniform and nonuniform random numbers, programming. Specific comparisons of alternative methods. 14 page bibliography.
1987
Letter To Mr. Fisher From Mr. Feldblum
1987
Letter To Mr. Fisher From Mr. Kreps
1987
An excellent follow-up to the previous paper with many worked examples.
1987
The property/casualty industry has operated under essentially the same federal income tax law since 1921. In the latter part of 1986 a new tax bill was signed into law that substantially revises the way property/ casualty companies are taxed. Analysis of the impact of the new tax code will be vital to insurance companies.
1987
This paper attempts to analyze the capital structure of an insurance company in a way that: (1) views the insurance company as an ongoing enterprise; and (2) allows for the stochastic nature of insurance business. A model is developed. This model is used to analyze the effect of uncertainty in the loss reserves, the underwriting cycle and the cost of insurance regulation to the consumer.
1987
This paper presents an overview, a book review, and a challenge to you, the reader.
1. An overview of the role of the casualty actuary in risk management today.
2. A book review of a remarkable new work by a philosopher of science which provides a framework we actuaries can use to develop better actuarial methods for risk managers and others.
3.
1987
In Massachusetts, the past ten years have witnessed the evolution of an increasingly sophisticated system of methodologies for determining the definitions of rating territories for private passenger automobile insurance.
