Browse Research
Viewing 5451 to 5475 of 7695 results
1986
This paper discusses several operational considerations of outwards reinsurance treaties necessary to insure that the treaties are both functioning as intended, and properly reflected in the ceding companies financial statements. Commonly used treaty provisions and their impact on financial statements are discussed.
1986
With current methodology, the parameters of a retrospective rating plan are calculated to place the plan in balance on an underwriting basis. This paper provides a way of calculating the present value of the retrospective premium. Using this methodology, one can compare the expected profitability of various retrospective rating plans on a discounted or operating basis. This includes paid loss retros.
1986
This report was submitted to the Life Insurance Council of New York, November 1, 1986.
1986
Excess and surplus lines underwriters, and others, rely heavily on facultative reinsurance support as an important part of their underwriting function. Individual risks are often subject to multiple reinsurance transactions as a result of the underwriting process. The net retained by the underwriters for the company’s account is then subject to the overall company reinsurance treaty.
1986
The estimation of risk premium for individual car models is discussed. Cluster analysis is used to identify groups of car models with similar technical attributes. Credibility theory is used to combine estimates of risk premium from individual car model claim statistics, group claim statistics, and a technical assessment carried out by car experts.
1986
In the paper, "A Probabilistic Model for IBNR Claims" a number of results of interest have been presented. The assumptions of the model have been clearly defined and several useful derivations worked out. It should be noted that this paper addresses "pure IBNR" - to the exclusion of reserves for adverse development on case reserves.
1986
Mr. Guiahi’s paper presents a model that is a good starting point for estimating the reserve associated with claims that have been incurred but are not reported. Since he refers only to "claim costs," it is not clear whether this reserve is for losses only, or losses and allocated loss adjustment expense.
1986
Develops a stochastic model for use in IBNR estimation.
Abstract: IBNR reserves are presented as a stochastic variable. The model presented shows explicitly that the main factors contributing to IBNR reserves are number of claims, severity, and report lag distributions. The mean and variance of IBNR reserves are derived. Procedures to obtain an IBNR confidence interval are discussed. Two examples are provided on the use of the model.
1986
Methods for calculating C-1 risk levels have been somewhat arbitrary, and reliable data upon which to base these methods are elusive. This paper presents a straighforward method of building a consistent framework for C-1 risk reserve calculation. Sample levels of required surplus are derived for fixed income and equity investments.
1986
in this paper the relationship between the Bayesian credibility parameter, k, and the classical credibility standard for full credibility, F,
is examined from a practical standpoint. A very useful “rule of thumb” is developed.
For most practical applications one can determine the F that roughly corresponds to k, and vice versa. First convert k to a number of claims, if necessary, by multiplying by an expected frequency.
1986
The variance of statistical estimates of outstanding claim payments for long-tailed general insurance portfolios is examined. The variance's three components are discussed. As there is no accepted technique for measuring this variance three methods are investigated empirically for its measurement—a parametric method, the jackknife method, and the bootstrap method.
1986
A formula for IBNR counts is derived as the credibility weighted average of three standard actuarial estimates: (formula can be found in paper) Here LDF denotes the age-to-ultimate development factor. The credibility weights vary by age of development in a methodical fashion rejecting prior belief in the reporting pattern and the estimate of ultimate. To derive the formula, IBNR is modelled as a parametrically dependent random variable.
1986
If an indicator of a significant paper is that it opens the door for further research, Dr. Robbin’s paper should stand the historical test. This review will emphasize generalizing the Poisson assumptions of the paper. Attention to optimal parameter estimation and other model assumptions may also prove fruitful, as may the quantification of uncertainty in the IBNR estimates.
1986
Insurers paid $1.6 billion on property claims arising from catastrophes in 1984. Researchers have estimated that annual insured catastrophe losses could exceed $16 billion. Certainly, the financial implications for the insurance industry of losses of this magnitude would be severe; even industry losses much smaller in magnitude could cause financial difficulties for insurers who are heavily exposed to the risk of catastrophic losses.
1986
Under-insurance is one of the scourges of homeowner Insurance: when it is established after a claim that the rebuilding cost of a dwelling has been under-estimated by the policyholder, the proportional rule applies in the sense that the indemnity is reduced in proportion of the under-insurance.
1986
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.
1986
Lloyd’s and the rest of the London market underwrite a significant part of the world’s insurance and are a dominating influence on insurance world-wide. This paper looks at the data which is collected primarily for reserving purposes inside the market—or rather the paper looks at some new and unusual but very simple ways of looking at that data.
1986
I will offer a brief review of the development of the valuation actuary concept, various aspects of current regulation, and major features of the valuation actuary concept as proposed to date. Following that extended introduction, I plan on discussing the nature of professional liability and the specific legal liability of the valuation actuary. I will attempt to point out some methods of limiting that liability.
1986
In today's uncertain business environment, managing a life insurance company requires a much higher caliber of financial management than in the past. A company must be in a position to control its own destiny, rather than having its fate dictated by outside forces.
This paper outlines a framework for managing life insurance company surplus.
1986
Estimation of pure premiums for alternative rate classes using regression methods requires the choice of a functional form for the statistical model. Common choices include linear and log-linear models. This paper considers maximum likelihood estimation and testing for functional form using the power transformation suggested by Box and Cox. The linear and log-linear models are special cases of this transformation.
1986
Reinsurance Research - Pricing/Contract Design
1986
Reinsurance Research - Pricing/Contract Design
