Browse Research
Viewing 5376 to 5400 of 7690 results
1987
The authors challenge the traditional balance sheet concept of the solvency of a general insurance company and put forward an emerging costs concept, which enables the true nature of the assets and liabilities to be taken into account, including their essential variability. Simulation is suggested as a powerful tool for use in examining the financial strength of a company.
1987
This paper discusses considerations in modelling insurers' financial results and describes a model developed by the authors to forecast results for the property-casualty industry. One purpose of the model presented is to project industry GAAP-adjusted return on net worth in future years.
1987
This paper is another valuable contribution by Glenn Meyers to the actuarial literature [ 11. In it, the author analyzes many aspects of experience rating formulas. Mr. Meyers’s paper contains a remarkable amount of material.
It can be divided into four parts, each of which would have been a useful paper on its own. His first two sections give an introduction to experience rating.
1987
Messrs. Pinto and Gogol have written a paper rich with practical techniques for determining excess loss development by layer of loss for liability lines. I have used their novel approach for analyzing reporting patterns by liability layer, and had success in tailoring their patterns to determine expected development for various reinsurance programs.
1987
This paper discusses the various approaches used in the financial/actuarial evaluation of an insurance operation principally engaged in writing property and casualty insurance coverages.
1987
There is very little information available regarding excess loss development, despite its importance in excess of loss pricing and reserving. In this study, paid and reported excess loss development patterns are estimated at various retentions for certain casualty lines of business. The effects of allocated loss adjustment expense and policy limits on excess development are discussed.
1987
After reviewing some general issues concerning solvency and the problems associated with establishing the financial strength of a general insurance company using the traditional balance sheet concept, the authors put forward an emerging costs approach for examining the strength of a company. This enables the true nature of the assets and liabilities to be taken into account, including their essential variability.
1987
We study the linear Markov property, i.e. the possibility of basing the credibility estimator on data of the most recent time period without loss of accuracy. Necessary and sufficient conditions are derived generally. The meaning of the linear Markov property is also discussed in different experience rating and loss reserving models.
Keywords Linear Markov property; linear sufficiency; credibility.
1987
Keywords: Reinsurance Research - Outward Program Design
1987
There have been a number of past attempts aimed at taking financial data on individual companies, and using this data to produce a predictive model of insurance company solvency. These models have come in two forms: parametric and non-parametric.
1987
This paper considers the application of regression techniques to the analysis of claims data. Examples are given to indicate why, in certain circumstances, this might be preferable to traditional actuarial methods. The various errors of prediction which occur when loss reserves are estimated by regression are classified and discussed.
1987
Chapters:
Fairley, William B., "Investment income and profit margins in property - liability insurance: Theory and empirical results."
Modigliani, Franco, and Hill, Raymond D., " The Massachusetts model of profit regulation in non-life insurance: An appraisal and extensions."
Meyers, Stewart C., and Cohn, Richard A., "A discounted cash flow approach to property-liability insurance rate regulation."
Turner, Andrew L., "Insurance in an equilibr
1987
Focusing on results by individual department, line of business, classification or other segment of a company's book of business leads to a loss of capacity where large companies act as if they were smaller companies. Limiting exposure to control the variation in results for a department will lead to a smaller net line than is necessary from the company standpoint.
1987
Underinsured Motorist Coverage enables a person to have coverage for bodily injury in the event they are injured by an individual with liability limits inadequate to cover the damages. As recently as 15 years ago, Underinsured Motorist Coverage was relatively unknown. Now, 41 jurisdictions require some form of the coverage.
LOB-Auto Liability
1987
In the present paper we present two credibility regression models for the classification of passenger cars. As regressors we use technical variables like price, weight, etc. In both models we derive credibility estimators and find expressions for their estimation errors. Estimators for structure parameters are proposed. A numerical example based on real data is given. The second model is hierarchical with a level for make of car.
1987
This book focuses on financial analysis by viewing it as part of a system of management decisions and stressing an integrated concept of investment, operations, and financing. Although the book is written from the perspective of analyzing a manufacturing organization, the concepts are applicable to any enterprise including property/liability insurance companies.
1987
When the chi-square test is used in the manner suggested by Mr. Dropkin, the hypothesis tested is that all insureds have the same Poisson frequency distribution (with identical means). Rejection of the hypothesis does not necessarily imply a non-Poisson frequency distribution, if individual insureds have different mean frequencies. The “Binomial Variance” test suggested by Mr. Dropkin is invalid.
1987
Mr. Dropkin’s paper consists of two parts. The first is a discussion of the “importance of the negative binomial distribution as a valuable instrument in its own right.” Second, this tool is used to comment on the use of the number of traffic violations to “split up the total heterogeneous group into homogeneous groups.”
1987
Actuaries have generally used the Poisson distribution to model accident frequencies for “repeatable” risks-that is, where more than one accident is possible in an exposure period. The reasons for this are both theoretical and practical.
1987
The C.A.S. can rightfully be proud of its contributions in this field which have been ably enhanced by Mr. Dropkin’s treatment of the negative binomial distribution.
1987
The discounting of property/casualty loss reserves to reflect the time value of money has been controversial issue for some time and recent activity in this area has been significant. In 1986 Congress passed landmark legislation to require discounting for income tax purposes. The National Association of Insurance Commissioners has formed a study group to further explore the advisability of discounting for statutory reporting purposes.
1987
Statutory accounting principles for property-liability insurers in the United States, in all but very special circumstances, do not recognize the time value of money in the establishment of loss reserves. The Tax Reform Act of 1986 stipulates an interest rate and a methodology for discounting loss reserves for tax purposes. The National Association of Insurance Commissioners (NAIC) is studying the discounting issue.
1987
Statutory accounting principles for property-liability insurers in the United States in all but very special circumstances do not recognize the time value of money in the establishment of the loss reserves. The Tax Reform Act of 1986 stipulates an interest rate and a methodology for discounting loss reserves for tax purposes. The National Association of Insurance Commissioners (NAIC) is studying the discounting issue.
1987
In this paper, the use of life contingencies to establish reserves for claimants requiring lifetime medical care is explored. In evaluating such claims, consideration should be given to the effects of inflation, discounting for interest, life expectancy, the impact of the claimant's medical condition on life expectancy, and the accurate measurement of medical costs.
