Browse Research
Viewing 5601 to 5625 of 7695 results
1984
Actuaries have always been m search of ways to determine premiums which match the risks insured as closely as possible. They do this by differentiating between them on the basis of observable risk factors. In practice, many examples of such risk factors are being used. age and sex for life insurance; location, type of building etc. for fire insurance.
1984
Expected continuation of intense competition, large underwriting losses, high interest rates and volatile financial markets means that investment results will play a most important role in shaping company survival patterns.
1984
In Industrial Fire insurance an aggregate limit for the amount retained by the policyholder under a deductible policy has been agreed upon more frequently m recent times. This agreement is equivalent to a stop-loss cover on the retained loss amount. For the Poisson-lognormal model the corresponding stop-loss net premium is calculated using various methods (normal power, translated gamma, various discretisations) and the methods are compared.
1984
In reviewing Lee Steeneck’s excellent paper on loss portfolio transfers, it became clear that two distinct sets of issues should be covered in any discussion of this particular form of reinsurance. The first area which needs to be addressed deals strictly with the pricing consideration involved in any of these deals. The second.
1984
The property-casualty insurance operating environment has changed dramatically. Total return is more a function of investment results than ever before. Competition has pressured rate levels. And more of our business is becoming "long tail", making reserving difficult. Reinsurance is becoming somewhat more financially oriented.
1984
French insurance companies usually classify their agents according to their results by branch and to this effect they calculate their respective claim ratios. As regards motor insurance many agents have argued against this practice as they believed it was unfair to be adversely classified when they had the misfortune to incur a large claim.
1984
Ex/Ind. Risk Rating Plans/LOB-Auto Liability/LOB-Burglary
1984
A premium calculation principle zr is called positively homogeneous if pi (cX) = c pi (X) for all c>0 and all random variables X. For all known principles it is shown that this condition is fulfilled if it is satisfied for two specific values of c only, say c =2 and c = 3, and for only all two point random variables X. In the case of the Esscher principle one value of c suffices.
1984
Reinsurance Research - Loss Distributions, Size of
1984
The purpose of this paper is to provide a practical handbook describing simple yet accurate methods of extrapolating. smoothing, and interpolating development factors. It will focus on the inverse power curve, its properties, and examples of fits obtained to various types of loss experience. It will also illustrate usage of the inverse power curve in addressing a variety of actuarial problems.
1984
Mary Lou O'Neil has presented a metatheoretical discussion paper. In contrast to analyzing solvency in terms of current concepts, her central theme is the tractable definition of financial strength. She argues that financial strength can and should be viewed as a characteristic that has dimension and is continuous, rather than as an on-off condition.
1984
This paper is concerned with the methodology for evaluating the financial condition of an insurer. To date, the methodology has focused on empirical approaches. This paper presents a theoretical framework for this evaluation. An insurer's financial condition at a given point in time is defined as a point (within a corresponding confidence interval) on a solvency continuum with insolvency and solidity as end points.
1984
This paper demonstrates how a company can derive accurate classification relativities. The method uses an empirical Bayesian credibility formula as taken from the paper "Credibility for Loss Ratios" by Buhlmann and Straub and modified by the IS0 Credibility Subcommittee. The data required for this method can be purchased from the National Council.
1984
A monoline medical professional liability insurer faces an unusual degree of solvency risk related to the adequacy of its loss and loss adjustment expense reserves.
1984
The topic of this paper is particularly timely given the attention currently being given to discounting by the GAO and IRS. The authors use a monoline medical professional liability insurer to demonstrate the use of investment income to off-set uncertainty in carried loss reserves. While a company such as this has perhaps the largest degree of uncertainty, the ideas ace valid for any type of insurer.
1984
Comparison of the cost of closed claims to reserves has been used for many years, often simplistically, to evaluate loss reserve adequacy. Recently a particular “closed case” method, developed by the Internal Revenue Service, has received attention within the insurance industry. The Committee on Reserves has reviewed this method for its adherence to sound actuarial principles.
