October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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Liability Rating Using Increased Limit Factor Curves
We have seen how exposure curves may help pricing property business. With suitable
adjustments, the same idea can be used to price liability business. The method is based on
the use of the so-called increased limit factor (ILF) reference curves (Miccoli 1977; Palmer
2006; Riegel 2008). The key idea behind ILF curves is that they should help you determine
how the expected losses increase by increasing the limit purchased, and ultimately that
helps you determine the cost of reinsuring a specic layer of reinsurance.
22.1 How ILF Curves Arise
The main difference between liability and propert ...
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