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Michael Merz has been Assistant Professor for Statistics, Risk and Insurance at the University of Tübingen since October 2006. He was awarded the internationally renowned SCOR Actuarial Prize 2004 for his doctoral thesis in risk theory. After completing his doctorate, he worked in the actuarial department of the Baloise insurance company in Basel/Switzerland and gained valuable practical working experience in actuarial science and quantitative risk management. His main research interests are actuarial science and quantitative risk management, with special emphasis on claims reserving and risk theory. He is a referee for many academic journals and has published extensively in leading academic journals, including theASTIN Bulletin and the Scandinanvian Actuarial Journal.
"Assessing the best estimate of insurance liabilities and modelling their adverse developments are among the new frontiers of insurance under the new IAS and the proposed new solvency regimes. This book makes a leap towards these frontiers. The variegated issue of predicting outstanding loss liabilities in non-life insurance is addressed using the unified framework of theory of stochastic processes. The proposed approach provides valuable tools for tackling one of the most challenging forecasting problems in insurance."
—Franco Moriconi, Professor of Finance, University of Perugia
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Descrizione libro hardback. Condizione: New. Language: ENG. Codice articolo 9780470723463
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Descrizione libro Hardback. Condizione: New. New copy - Usually dispatched within 4 working days. Claims reserving is central to the insurance industry. Insurance liabilities depend on a number of different risk factors which need to be predicted accurately. Codice articolo B9780470723463
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Descrizione libro Condizione: New. Covers all the theory and practical advice that actuaries need in order to determine the claims reserves for non-life insurance. Describes all the necessary mathematical methods used to estimate loss reserves and shares the authors' practical experience, which is essential in showing which of the methods should be applied in any given situation. Series: Wiley Finance Series. Num Pages: 438 pages, Illustrations. BIC Classification: KFFN; PBWL. Category: (P) Professional & Vocational. Dimension: 251 x 175 x 29. Weight in Grams: 908. . 2008. 1st Edition. Hardcover. . . . . Codice articolo V9780470723463
Descrizione libro Hardcover. Condizione: new. Hardcover. Claims reserving is central to the insurance industry. Insurance liabilities depend on a number of different risk factors which need to be predicted accurately. This prediction of risk factors and outstanding loss liabilities is the core for pricing insurance products, determining the profitability of an insurance company and for considering the financial strength (solvency) of the company. Following several high-profile company insolvencies, regulatory requirements have moved towards a risk-adjusted basis which has lead to the Solvency II developments. The key focus in the new regime is that financial companies need to analyze adverse developments in their portfolios. Reserving actuaries now have to not only estimate reserves for the outstanding loss liabilities but also to quantify possible shortfalls in these reserves that may lead to potential losses. Such an analysis requires stochastic modeling of loss liability cash flows and it can only be done within a stochastic framework. Therefore stochastic loss liability modeling and quantifying prediction uncertainties has become standard under the new legal framework for the financial industry. This book covers all the mathematical theory and practical guidance needed in order to adhere to these stochastic techniques. Starting with the basic mathematical methods, working right through to the latest developments relevant for practical applications; readers will find out how to estimate total claims reserves while at the same time predicting errors and uncertainty are quantified. Accompanying datasets demonstrate all the techniques, which are easily implemented in a spreadsheet. A practical and essential guide, this book is a must-read in the light of the new solvency requirements for the whole insurance industry. Covers all the theory and practical advice that actuaries need in order to determine the claims reserves for non-life insurance. Describes all the necessary mathematical methods used to estimate loss reserves and shares the authors' practical experience, which is essential in showing which of the methods should be applied in any given situation. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability. Codice articolo 9780470723463