The book is ideal for a first course in insurance risk theory. It focuses on major areas in this subject - aggregate claims distributions, ruin theory, utility theory, premium calculation principles a
The book is ideal for a first course in insurance risk theory. It focuses on major areas in this subject - aggregate claims distributions, ruin theory, utility theory, premium calculation principles a
A modern perspective on life contingencies that uses the powerful framework of multiple state models to develop and demonstrate a theory that can be adapted to changing products and technologies. Bala
The focus of this book is on the two major areas of risk theory: aggregate claims distributions and ruin theory. For aggregate claims distributions, detailed descriptions are given of recursive techniques that can be used in the individual and collective risk models. For the collective model, the book discusses different classes of counting distribution, and presents recursion schemes for probability functions and moments. For the individual model, the book illustrates the three most commonly applied techniques. Beyond the classical topics in ruin theory, this new edition features an expanded section covering time of ruin problems, Gerber–Shiu functions, and the application of De Vylder approximations. Suitable for a first course in insurance risk theory and extensively classroom tested, the book is accessible to readers with a solid understanding of basic probability. Numerous worked examples are included and each chapter concludes with exercises for which complete solutions are provi
This must-have manual provides detailed solutions to all of the 300 exercises in Dickson, Hardy and Waters' Actuarial Mathematics for Life Contingent Risks, 3 edition. This groundbreaking text on the modern mathematics of life insurance is required reading for the Society of Actuaries' (SOA) LTAM Exam. The new edition treats a wide range of newer insurance contracts such as critical illness and long-term care insurance; pension valuation material has been expanded; and two new chapters have been added on developing models from mortality data and on changing mortality. Beyond professional examinations, the textbook and solutions manual offer readers the opportunity to develop insight and understanding through guided hands-on work, and also offer practical advice for solving problems using straightforward, intuitive numerical methods. Companion Excel spreadsheets illustrating these techniques are available for free download.
Knowledge about environmental problems has expanded rapidly in recent decades, as have the number and variety of processes for making large-scale scientific assessments of those problems and their pos
Knowledge about environmental problems has expanded rapidly in recent decades, ashave the number and variety of processes for making large-scale scientific assessments of thoseproblems and their possi
