Browse Research
Viewing 5976 to 6000 of 7690 results
1978
Stimulated by Karl Borch's paper [3] we have tried to analyze the paper written by K. Arrow [I] in I953. Contrary to Borch's opinion we have some doubt whether this work contains a theory of insurance as a special case. Nevertheless, it has inspired us to this note, which tries to develop a somewhat more realistic model. As a matter of fact, our development is more in the spirit of another paper by Arrow I2].
1978
The problem of distribution-free parameter estimation in recent credibility theory is discussed in the papers [I], [3] and [4] of the bibliography. Here, we consider a multiclass model with regression assumption. In that case, already treated by Charles Hachemelster, [3], this author obtains an unsymmetrical matrix as an estimator of a covariance matrix. Of course, for practical use, this matrix is symmetrized in the obvious way.
1978
This paper presents a normative model for the sequential reinsurance and dividend-payment problem of the Insurance Coral) any
(I.C.). Optimal strategies are found in closed form for a class of utility functions. In some sense the model studied can be viewed
as an adaptation of Hakansson's investment-consumption model of the individual [3] or a generalization of Frisque's model for the
dynamic management of an I.C. [2].
1978
Recently two types of insurance policy covering automobile liability* have become available. With this kind of policy, the insured party receives a prepaid discount on the annual premium; however, he must make an additional payment to the insurer on first report of an accident. We shall examine only one of these two types of policy, since the second is very similar to the first.
1978
Claim Size Modeling/Loss Distribution/Deductibles
1978
When the distribution of the number of claims in an interval of time of length t is mixed Poisson and the moments of the independent distribution of individual claim amounts are known, the moments of the distribution of aggregate claims through epoch t can be calculated (O. Lundberg, 1940, ch. V[). Several approximations to the corresponding distribution function, F(*, t), are available (see, e.g., Seal, 1969, ch.
1978
Weissner presents a stochastic method of extrapolating further development, assuming that claims arise according to a known distribution curve. Maximum likelihood methods are used. Though not indicated in this paper, parameter uncertainty can be incorporated with this model.
1978
After having a look at the results obtained by adjustment of automobile claims amounts distribution, we research how the number and the time-configuration of past claims condition the claims law of probability. We have statistics about a group of 471,000 cars which was followed for three years 1970, 1971 and 1972. We use mathematical techniques and among multi-dimensional analysis, we use factorial analysis of correspondence (AFC.) A F.C.
1978
I read Mr. Ferguson’s paper with great interest. His topic is critical to the reinsurance business, since so-called burning cost rating is the reinsurance underwriter’s favorite pricing technique. An actuarial analysis of it is long overdue.
1978
Substantial underwriting losses in the mid- 1970’s are testimony to the inability of the insurance industry to deal effectively in the pricing process with some of the forces that affect its product. The problems are numerous; however, each of the problems can be subsumed under one of three categories. First of all, our inward looking ratemaking techniques did not equip us to cope with a changing economic environment.
1977
Presented by the Central American Actuarial Association (Asociaci6n Acturial Centroamericana) to the I3th ASTIN Colloquium. The Asociaci6n Actuarial Centroamericana (AAC) is a grouping of Actuaries from the Central American Republics of E1 Salvador, Guatemala, Honduras, Nicaragua, Costa Rica and Panama. The AAC is a contributing ASTIN member of the International Actuarial Association.
1977
Claim Size Modeling/Loss Distribution/LOB-Fire and Allied Lines
1977
The paper considers the problem of finding an upper bound for the Stop loss premium. We will start with a brief sketch of the practical context in which this problem is relevant.
1977
The qualifications of the semivariance as a useful risk measure are examined and compared to those of the variance. Although on first sight the semivariance may seem more appropriate from the insured's point of view the analysis of this paper leads to a preference for the variance as a risk measure.
1977
An important part of performing a loss ratio type of rate adequacy study is the ability to restate historical earned premiums at the level implied by the present rate structure. Of course, the most straight-forward and desirable way of accomplishing this restatement is by the extension-of-exposures method. That is, the historical book of business is actually rerated by using today’s rate book.
