Pricing in General Insurance

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Preface

Most people with some interest in the history of science know that in 1903, Albert Einstein,

unable to nd a job at the university, started working as an ‘assistant examiner’ in the

patent ofce of Berne, where he worked efciently enough to be able also to produce four

papers, one on Brownian motion (now a standard topic in the actuarial profession exams

on derivatives) and three on relativity theory and quantum mechanics (not on the syl-

labus). According to one biographer (Isaacson 2007), an opportunity had also arisen for

Einstein to work in an insurance ofce, but he hastily turned that down arguing that that

would have meant ...