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Handbuch Zur Schadenreservierung (Paperback)
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This handbook presents the basicaspects of actuarial loss reserving. Besides the traditional methods, it alsoincludes a description of more recent ones and a discussion of certain problemsoccurring in actuarial practice, like inflation, scarce data, large claims, slowloss development, the use of market statistics, the need for simulationtechniques and the task of calculating best estimates and ranges of futurelosses.
In property and casualty insurance the provisions forpayment obligations from losses that have occurred but have not yet beensettled usually constitute the largest item on the liabilities side of aninsurer's balance sheet. For this reason, the determination and evaluation ofthese loss reserves is of considerable economic importance for every propertyand casualty insurer.Actuarial students, academics as well as practicingactuaries will benefit from this overview of the most important actuarialmethods of loss reserving by developing an understanding of the underlyingstochastic models and how to practically solve some problems which may occur inactuarial practice.