Dealing with InsuranceWhat Can Be Learned

 13

MICHAEL THEIL

Contents

Introduction

Basic Principles

Distribution of Risk

Principles of Pricing

Fair Premiums

Security Loading

Forms of Insurance

Regulation

Compulsory Insurance

Ideal Insurable Risks

Chance Events

Independent Events

Estimation of Probabilities and Loss Sizes

Concreteness

Size

Lessons to Learn from Insurance

Risk Management

Risk Communication

Risk Transfer

Pricing

Insurance Companies

Chance Events

Independent Events

Estimation of Probabilities and Loss Sizes

Concreteness

Size

Conclusions ...

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