We analyze a mutual fire insurance mechanism used in Andorra, which is called La ∗We are grateful to Francisco Alcalá, Luis Corchón, Ashok Rai, Massimo Motta, Rafael Repullo, Joel Sobel and the seminar participants at the European Winter Workshop of the Econometric Society and the UCI Development Economics Conference for their comments. We thank Pierre-André Chiappori and an anonymous referee f...

Two general approaches may be followed for the development of a fire risk model: statistical models based on observed fire losses can support simple cost-benefit studies but are usually not detailed enough for engineering decision-making. Engineering models, on the other hand, require many assumptions that may result in a biased risk assessment. In two related papers we show how engineering and...

Cardiac arrest is a leading cause of mortality among firefighters. We sought to develop a valid method for determining the costs of a workplace prevention program for firefighters. In 2012, we developed a draft framework using human resource accounting and in-depth interviews with experts in the firefighting and insurance industries. The interviews produced a draft cost model with 6 components ...

in recent decades, issuing of catastrophe bonds for covering the catastrophe losses such as earthquakes, floods, etc. are getting more widespread. the purpose of this paper is determination of the optimal interest rates for investors of these securities, so that it becomes attractive for them. this paper uses fire insurance data in the period of 1328 to 1388 and considers the peaks over thresho...

In actuarial practice, regression models serve as a popular statistical tool for analyzing insurance data and tariff ratemaking. In this paper, we consider classical credibility models that can be embedded within the framework of mixed linear models. For inference about fixed effects and variance components, likelihood-based methods such as (restricted) maximum likelihood estimators are commonl...

Good estimates for the tails of loss severity dustrlbutlons are essential for pricing or positioning high-excess loss layers m reinsurance We describe parametric curvefitting inethods for modelling extreme h~storlcal losses These methods revolve around the genelahzed Pareto distribution and are supported by extreme value theory. We summarize relevant theoretical results and provide an extenswe ...

A user friendly approach to modeling the risk process is presented. It utilizes the insurance library of the XploRe computing environment which is accompanied by on-line, hyperlinked and freely downloadable from the web manuals and e-books. The empirical analysis for Danish fire losses for the years 1980-90 is conducted and the best fitting of the risk process to the data is illustrated.