We describe a number of applications of simulation methods to practical problems in finance and insurance. The first entails the simulation of a two-stage model of a propertycasualty insurance operation. The second application simulates the operation of an insurance regime for home equity conversion mortgages (also known as reverse mortgages). The third is an application of simulation in the co...

claimed have became one of the inherent attribute of construction industry. in order to determine the most appropriate strategy for prevention and resolution of these claims, some studies have been conducted to identify claim`s causes but they are common in construction industry. it seems that the reason of making these claims is a better understanding of complexity and the casual variables. in...

Rapid growth in heavy-tailed claim severity in commercial liability insurance requires insurer response by way of flexible mechanisms to update premiums. To this end in this paper a new premium principle is established for heavy-tailed claims, and its properties investigated. Risk-neutral premiums for heavy-tailed claims are consistently and unbiasedly estimated by the ratio of the first two ex...

We analyze the spending of individuals in the United States on lottery tickets in an average month, as reported in surveys. We view these surveys as sampling from an unknown distribution, and we use non-parametric methods to compare properties of this distribution for various demographic groups, as well as claims that some properties of this distribution are constant across surveys. We find tha...

The purpose of the paper is to develop a method of calculating the aggregate loss distribution of excess claims based on a formula described in the book Risk Theory by Beard, Pentikainenen, and Pesonen. This formula requires that the claim frequency distribution satisfy a certain recursive relationship. The first part of the paper shows that a claim frequency distributions of excess claims deri...

background the responsiveness of a health system is considered to be an intrinsic goal of  health systems and an essential aspect in performance assessment. numerous studies have analysed health system responsiveness and related concepts, especially across different countries and health systems. however, fewer studies have applied the concept for the evaluation of specific healthcare delivery s...

Background The responsiveness of a health system is considered to be an intrinsic goal of  health systems and an essential aspect in performance assessment. Numerous studies have analysed health system responsiveness and related concepts, especially across different countries and health systems. However, fewer studies have applied the concept for the evaluation of specific healthcare delivery s...

One of the premium determination techniques is to use credibility theory. In this study, a model was derived with best accuracy approach in form Bühlmann’s premium. The claim data assumed have Negative Binomial and 2-Poisson distribution. Bühlmann's formula given explicitly for these two distributions. obtained also applied correct following From simulation results, it that values are very clos...