Insurance Commons^™

Bivariate Archimedean Copula Models For Censored Data In Non-Life Insurance, Michel Denuit, Oana Purcaru, Ingrid Van Keilegom

Journal of Actuarial Practice (1993–2006)

We describe a methodology based on Archimedean copulas for analyzing nonlife insurance data with censoring present. Specifically, we propose a graphical selection procedure for the nonparametric estimation of the generator. An actual loss-ALAE data set is used for the numerical illustrations and for comparisons of our approach to a few others.

Consistent Assumptions For Modeling Credit Loss Correlations, Jan Dhaene, Marc J. Goovaerts, Robert Koch, Ruben Olieslagers, Olivier Romijn, Steven Vanduffel

Journal of Actuarial Practice (1993–2006)

We consider a single period portfolio of n dependent credit risks that are subject to default during the period. We show that using stochastic loss given default random variables in conjunction with default correlations can give rise to an inconsistent set of assumptions for estimating the variance of the portfolio loss. Two sets of consistent assumptions are provided, which it turns out, also provide bounds on the variance of the portfolio's loss. An example of an inconsistent set of assumptions is given.

Bayesian Analysis Of Insurance Losses Using The Buhlmann-Straub Credibility Model, Abraham J. Van Der Merwe, Kobus N. Bekker

Journal of Actuarial Practice (1993–2006)

We propose a Bayesian analysis to develop credibility estimates of the well known Biihlmann-Straub model. We describe simple numerical methods to obtain exact posterior distributions and predictive densities under this model. These distributions are obtained through Monte Carlo simulations that generate independent samples from the joint posterior distribution. Our methods are therefore preferable to methods such as Gibbs sampling, which generates dependent samples from the joint distribution. The methods discussed also can be extended to more complicated credibility models.

Spatial Distribution Of Frequency And Severity Of Water Claims In California, Gurbhag Singh, Max Tang, Don Mcneill, Lyn Hunstad

Journal of Actuarial Practice (1993–2006)

We examine the frequency and severity of water loss claims for homeowners insurance across the state of California for the experience years 2000, 2001, and 2002. The spatial distribution patterns of frequencies and severities are mapped and analyzed at the zip code level. The maps reveal the pockets of high frequencies and severities. The information provided in this paper will assist actuaries and policy makers in their quest to set accurate rates for homeowners insurance.

Journal Of Actuarial Practice, Volume 13, 2006, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Bivariate Archimedean Copula Models for Censored Data in Non-Life Insurance • Michel Denuit, Dana Purcaru, and Ingrid Van Keilegom 5

Bayesian Analysis of Insurance Losses Using the Biihlmann-Straub Credibility Model • Abraham J. van der Merwe and Kobus N Bekker . 33

Bayesian Analysis of a Health Insurance Model • Helio S. Migon and Edison M. O. Penna 61

Solvency of Life Insurance Companies: Methodological Issues • Rosa Cocozza and Emilia Di Lorenzo . 81

Pricing Insurance Policies with a Distribution-Free Financial Pricing Model • Min-Ming Wen . 103

A Note on the Instability of the Unprojected Individual Level …

Flyer: Rally Jacksonville Leading With Reading: Call All Children Entering Kindergarten In 2006, Jacksonville Children's Commission

Florida Blue Archives Printed Materials

No abstract provided.

Promotional Insert: Leadership Florida 2006 Membership Directory, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Application: The Blue Foundation For A Healthy Florida 2006 Request For Proposals, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Report: Winter 2006 Grant Summaries, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Application: The Blue Foundation For A Healthy Florida 2006 Request For Proposals, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Informational Outline: The Blue Foundation For A Healthy Florida Technical Assistance For Request For Proposals, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Radio News Release – Blue Cross Blue Shield Of Florida – Community Outreach Health Programs In Florida, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

The Radio News release from Blue Cross and Blue Shield of Florida about Community Outreach Health Programs in Florida.

Brochure: Your Opinion Matters!, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A brochure that was given out because your opinions matters.

Booklet: The Blue Foundation For A Healthy Florida: A Look Back At 2006, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Asbestos Litigation And Indemnification, Paul Grammens

Honors Program Theses

Asbestos started out as an amazing product. It was not only easy to manufacture and easy to work with but also fire resistant and a great insulator, asbestos became one of the most common manufacturing products in the United States, especially after World War I. What the public did not know about asbestos at the time is that long-term exposure could lead to sickness. Because of this unforeseen liability, industrial companies and insurance companies were not able to properly prepare for the losses due to asbestos.

Insurance: A Consumer's Perspective, Elizabeth Ann Nanke

Honors Program Theses

Life insurance is a pivotal part of the world in which we live, and yet most consumers think about it very little. Life insurance started with the Ancient Greeks and continued to develop in Europe, eventually reaching the United States. Throughout history, insurance companies have undergone a number of modifications to match changing consumer needs. ln our modem society, insurance can be best defined as an intermediary that reduces the financial drain caused by the death of an individual by apportioning this loss among a very large group. Today, insurance companies sell a number of diversified products, but most insurance …

Ua12/2/1 College Heights Herald, Vol. 81, No. 21, Wku Student Affairs

WKU Administration Documents

WKU campus newspaper reporting campus, athletic and Bowling Green, Kentucky news. Articles in this issue:

• Coulter, Amber. Money Missing from Faculty Insurance Fund
• Coulter, Amber. Parking Initiative to Begin
• Brandenburg, Katie. Four People Receive Positive Results in TB Skin Tests – Tuberculosis
• Teague, Hawkins. ‘Simpsons’ Star Nancy Cartwright Keeps Audience Laughing
• McNamara, Andrew. Bomb Threat Causes Evacuation – Mass Media & Technology Hall (WKU)
• Equilibrium Point – Enrollment
• Ashby, Robert. A Man’s Perspective – Girls Gone Wild
• Dillon, Ryan. Girls Gone Stupid
• Salsman, Andrew. Rest Room Usage 101
• Richardson, Kelly. Gary Ransdell Appointed to Equine Education Board
• Caudle, Leah. Exhibit …

Generation Rn, 10/4/2005, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

An article about Generation RN from October 4, 2005.

Newsletter: Community Matters, United Way Of Northeast Florida

Florida Blue Archives Printed Materials

No abstract provided.

Letter: Miami Children’S Hospital Foundation Nomination Letter To Bcbsf, Robin Reiter-Faragalli

Florida Blue Archives Printed Materials

No abstract provided.

Blue Cross And Blue Shield Of Florida Recognized For Community Leadership, 6/20/2005, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A news release About BCBSF being recognized for community Leadership from June 20, 2005.

July 2005 Blue Cross And Blue Shield Executive Directory, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

July 2005 executive directory printed by the BlueCross and BlueShield Association. Includes attached August 19, 2005 memo from Bob Lufrano to Distribution, regarding Blue Cross and Blue Shield Executive Directory.

Optimal Insurance Brokerage Commission, Arthur Hau

Hong Kong Institute of Business Studies Working Paper Series

This paper studies a principal-agent insurance brokerage problem with a risk-averse principal (an insured) and a risk-neutral agent(a broker). The concept of “mean-preserving spread-reducing effort” is introduced to delineate the broker's activities. Using the first-order approach, it is shown that under some common conditions, the insured may “concavify” the reward function to induce the risk-neutral agent to exert MPSR brokering effort. Surprisingly, these conditions together with an additional condition guarantee the validity of the first-order approach even when the monotone likelihood ratio condition (used exclusively to justify the first-order approach) is violated. The case with a risk-averse agent is also …

Event Program: 17th Annual Women Of Distinction, Girl Scouts Of Gateway Council

Florida Blue Archives Printed Materials

No abstract provided.

Letter: To Colleague From Susan Towler Concerning The Sapphire Awards, With Attached Information About The Sapphire Award, Susan Towler

Florida Blue Archives Printed Materials

No abstract provided.

Is Exchange Risk Priced Beyond Intertemporal Risk?, Ines Chaieb, Stefano Mazzoto, Oumar Sy

Faculty Articles

Recent conditional tests show that exchange risk is priced in integrated international markets. However, these results are typically obtained assuming that intertemporal risk does not matter. We test an intertemporal international asset-pricing model where the investment opportunity set is dynamic. Using a conditional orthogonalization approach, we investigate whether the exchange risk is priced once the market and intertemporal risks are fully taken into account. We find that, in addition to the market and intertemporal risks, the exchange risk is an important determinant of risk premium. We also find that the intertemporal risk, which is often overlooked in the literature, is …

News Release: “Grant To Provide Medication Assistance To We Care Network Patients”, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Game Face Gala-Save The Date Card- Jacksonville Museum Of Modern Art, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A save the date card for the Game Face Gala at the Jacksonville Museum of Modern Art.

The Effects Of Malpractice Tort Reform On Defensive Medicine, Heather M. O'Neill, Katherine D. Hennesy

Business and Economics Faculty Publications

Medical malpractice crises occur across states to differing degrees, thus the proposed changes in state tort reforms differ accordingly. The primary overt goals of tort reform aim to address: rising medical malpractice insurance rates, increased frequency and severity of awards, and the increased incidence of doctors shuttering offices or fleeing states due to untoward malpractice environments. A secondary goal of tort reform is to reduce health care costs attributed to malpractice costs. Clearly, as malpractice tort reforms are debated in state capitols and reforms take place, the effects of the reforms on the goals above can be examined. However, there …

Modeling Clusters Of Extreme Losses, Beatriz Vaz De Melo Mendes, Juliana Sa Freire De Lima

Journal of Actuarial Practice (1993–2006)

We model extreme losses from an excess of loss reinsurance contract under the assumption of the existence of a subordinated process generating sequences of large claims. We characterize clusters of extreme losses and aggregate the excess losses within clusters. The number of clusters is modeled using the usual discrete probability models, and the severity of the sum of excesses within clusters is modeled using a flexible extension of the generalized Pareto distribution. We illustrate the methodology using a Danish fire insurance claims data set. Maximum likelihood point estimates and bootstrap confidence intervals are obtained for the parameters and statistical premium. …