October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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Burning Cost Analysis
Despite its simplicity and its many limitations, burning cost analysis is one of the most
widespread pricing techniques, especially in such contexts as the London Market. It is
an estimate of the expected losses to a policy (gross, ceded and retained) based on an
average of the claims experience in past years, possibly with corrections/adjustments to
take claims ination, changes in exposure and in risk prole, allowance for large losses,
incurred but not reported (IBNR) claims, expected changes in reserve and so on, but with-
out any explicit modelling. It therefore builds up on the data summarisation exercise that ...
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