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Economy & Business, Volume 9, 2015

ON THE RISK MODELING IN GENERAL INSURANCE
Velizar Pavlov, Elitsa Raeva
Pages: 563-574
Published: 21 Aug 2015
Views: 1281
Downloads: 231
Abstract: In the present work are considered some approaches for risk modeling in general insurance. Some problems are described which are not subject of the classical risk theory and their reformulation in the actuarial practice are made. Numerical examples to determine the amount of insurance premiums in order to limit to one percent the probability of insolvency are presented. It is shown that depending on the claims size distribution, the Normal approximation and Normal power transformation may lead to differences in the estimation of the safety loadings.
Keywords: statistical distribution, models, insurance, claim, risk
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