Automobile Insurance - Actuarial Models (Hardcover, 1985 ed.)

The mathematical theory of non-life insurance developed much later than the theory of life insurance. The problems that occur in the former field are far more intricate for several reasons: 1. In the field oflife insurance, the company usually has to pay a claim on the policy only once: the insured dies or the policy matures only once. It is with only a few particular types of policy (for instance, sickness insurance, when the insured starts working again after a period of sickness) that a valid claim can be made on a number of different occasions. On the other hand, the general rule in non-life insurance is that the policyholder is liable to be the victim of several losses (in automobile insurance, of course, but also in burglary and fire insurance, householders' comprehensive insurance, and so on). 2. In the field of life insurance, the amount to be paid by the company excluding any bonuses-is determined at the inception of the policy. For the various types of life insurance contracts, the sum payable on death or at maturity of the policy is known in advance. In the field of non-life insurance, the amount of a loss is a random variable: the cost of an automobile crash, the partial or totalloss of a building as a result of fire, the number and nature of injuries, and so forth."

General

Imprint:	Kluwer Academic Publishers
Country of origin:	United States
Series:	Huebner International Series on Risk, Insurance and Economic Security, 4
Release date:	July 1985
First published:	1985
Authors:	Jean Lemaire
Dimensions:	235 x 155 x 15mm (L x W x T)
Format:	Hardcover
Pages:	250
Edition:	1985 ed.
ISBN-13:	978-0-89838-166-5
Categories:	Books > Business & Economics > Finance & accounting > Finance > Insurance > General Books > Money & Finance > Insurance > General
LSN:	0-89838-166-5
Barcode:	9780898381665

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