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Non-life Insurance

Language:  English
This eBook provides approaches to ratemaking and loss reserving in non-life insurance supported by a discussion of deductibles and policy limits and common insurance ratios.
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This eBook presents pure premium and claim ratio approaches to ratemaking in non-life insurance. It also covers three approaches to loss reserving for incurred claims – expected claim ratio, chain ladder and Bornhuetter-Ferguson methods. Included is a discussion of deductibles and policy limits and non-life insurance ratios such as loss elimination ratio and combined ratio.

About the authors

Dr. Abdul Rahman holds graduate degrees in mathematics and financial economics and won the best teacher award by MBA students for 12 consecutive years at the Telfer School of Management. He has published in prestigious academic journals, held university positions as Full Professor and Associate Dean and consulted for global financial institutions in banking, insurance and asset management.

Drs. Dick Harryvan has a graduate degree in business economics. He is an entrepreneurial executive with extensive experience in setting up life and direct retail banking greenfields including ING Direct the world’s largest direct bank which grew to 24 million customers. Being pragmatic, customer centric, focused and keeping things simple are keys to success and are reflected in this Art of Insurance series.

  1. About the Authors
  2. Preface
  3. Setting the Stage: Fundamental Concepts
    1. Introduction
    2. Setting the Stage: Definitions, Principles and Concepts
    3. Categories of Expenses 
    4. Combined Ratio
  4. Policy Coverage Modifications 
    1. Introduction
    2. Deductibles and Policy Limits
    3. Key Actuarial Concepts
  5. Appendix A 
  6. Appendix B 
  7. Fundamental Ratemaking Techniques 
    1. Introduction 
    2. Ratemaking – Historical Experience
  8. Loss Reserving 
    1. Introduction 
    2. Methods for IBNR Reserves 
    3. Reserve for Unexpired Risk 
  9. References 
About the Authors

Abdul H. Rahman

Dick H. Harryvan