October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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492 Pricing in General Insurance
distribution (before applying any cross-class deductibles or other global features) is given
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28.2.3 Limitations
The methodologies outlined in this section to combine the aggregate loss models of differ-
ent risks are satisfactory if the risks are independent. This is often a good approximation,
even when there is some dependence.
However, if dependency does need to be taken into account, the methods outlined above
break down and we need to use different techniques. These may take a book of their own
to write, but the core ideas are outlined in the rest of this chapter. Before ...
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