October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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xviiContents
21.7.3 Making It Stochastic .................................................................................... 347
21.7.3.1 Calculation of the Aggregate Loss Distribution Using
Exposure Rating ........................................................................... 347
21.8 Using Exposure Rating in Direct Insurance .........................................................349
21.8.1 Hybrid Rating: Basic Algorithm ................................................................ 349
21.8.2 Hybrid Rating: Case with No Losses ........................................................351
21.8.2.1 Heuristic Rules for Selecting a Value of λ in the Case of
No Losses....................................................................................... ...
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