Handbook on Loss Reserving / edited by Michael Radtke, Klaus D. Schmidt, Anja Schnaus.

Format:

Book

Contributor:

Radtke, Michael., Editor.

Schmidt, Klaus D., Editor.

Schnaus, Anja., Editor.

Series:

EAA Series, 1869-6937

Language:

English

Subjects (All):

Actuarial science.

Statistics.

Financial services industry.

Actuarial Mathematics.

Statistical Theory and Methods.

Statistics in Business, Management, Economics, Finance, Insurance.

Financial Services.

Local Subjects:

Actuarial Mathematics.

Statistical Theory and Methods.

Statistics in Business, Management, Economics, Finance, Insurance.

Financial Services.

Physical Description:

1 online resource (XV, 322 p. 4 illus., 1 illus. in color.)

Edition:

1st ed. 2016.

Place of Publication:

Cham : Springer International Publishing : Imprint: Springer, 2016.

Summary:

This handbook presents the basic aspects of actuarial loss reserving. Besides the traditional methods, it also includes a description of more recent ones and a discussion of certain problems occurring in actuarial practice, like inflation, scarce data, large claims, slow loss development, the use of market statistics, the need for simulation techniques and the task of calculating best estimates and ranges of future losses. In property and casualty insurance the provisions for payment obligations from losses that have occurred but have not yet been settled usually constitute the largest item on the liabilities side of an insurer's balance sheet. For this reason, the determination and evaluation of these loss reserves is of considerable economic importance for every property and casualty insurer. Actuarial students, academics as well as practicing actuaries will benefit from this overview of the most important actuarial methods of loss reserving by developing an understanding of the underlying stochastic models and how to practically solve some problems which may occur in actuarial practice.

Contents:

Additive Method

Aggregation

Bornhuetter-Ferguson Method

Bornhuetter-Ferguson Principle

Cape Cod Method

Chain-Ladder Method (Basics)

Chain-Ladder Method (Models)

Chain-Ladder Method (Prediction Error)

Collective Model

Controlling

Credibility Models (Basics)

Credibility Models (Loss Reserving)

Development Patterns (Basics)

Development Patterns (Estimation)

Expected-Loss Method

Grossing-Up Method

Linear Models (Basics)

Linear Models (Loss Reserving)

Lognormal Loglinear Model (Basics)

Lognormal Loglinear Model (Loss Reserving)

Loss-Development Method

Loss Ratios

Marginal Sum Method

Multinomial Model

Multiplicative Model

Multivariate Methods

Munich Chain-Ladder Method

Paid & Incurred Problem

Panning Method

Poisson Model

Reinsurance

Run-Off Data

Run-Off Triangles

Separation Method

Simulation

Solvency II

Tail Estimation

Volume Measures

Probability Distributions

References

List of Symbols

List of Contributors

Author Index

Subject Index.

Notes:

Includes bibliographical references and indexes.