PROCEEDINGS May 15, 16, 17, 18, 2005 - Casualty Actuarial Society

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126 WHY LARGER RISKS HAVE SMALLER INSURANCE CHARGESunderstand how far severity assumptions may be relaxed beforesuch inversions would occur.So we conclude, having proved there is a fairly large class ofrisk-size models in which charges decline with size of risk. Thisclass includes widely used actuarial models such as the CRM andTable M. Also, we have developed some theoretical constructsthat should also provide a solid foundation for future research.
WHY LARGER RISKS HAVE SMALLER INSURANCE CHARGES 127REFERENCES[1] Bertoin, Jean, Lévy Processes, Cambridge, U.K.: CambridgeUniversity Press, 1996, pp. 1—8, 187—214.[2] Feller, William, An Introduction to Probability Theory and ItsApplications Volume I, Third Edition, New York, NY: JohnWiley and Sons, 1968, Chapter XVII, pp. 444—482.[3] Gillam, W. R., “The 1999 Table of Insurance Charges,”PCAS LXXXVII, 2000, pp. 188—218.[4] Heckman, Phillip E. and Meyers, Glenn G., “The Calculationof Aggregate Loss Distributions from Claim Severity andClaim Count Distributions,” PCAS LXX, 1983, pp. 27—31.[5] Hewitt, Jr., Charles C., “Loss Ratio Distribution–A Model,”PCAS LIV, 1967, pp. 70—88.[6] National Council on Compensation Insurance, RetrospectiveRating Plan Manual for Workers Compensation and EmployersLiability Insurance, 2001.[7] Pittman, James W., “Levy Process and Infinitely DivisibilityLaw,” Lecture Notes, Lecture 26, Spring 2003.[8] Robbin, Ira, “Overlap Revisited: The Insurance Charge ReflectingLoss Limitation Procedure,” Pricing, CasualtyActuarialSociety Discussion Paper Program, 1990, Vol. II, pp.809—850.[9] Ross, Sheldon M., Stochastic Processes, Second Edition,New York, NY: John Wiley and Sons, 1996, pp. 41—162,356—403.
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VOLUME XCII NUMBERS 176 and 177PROC
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FOREWORDActuarial science originate
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2005 PROCEEDINGSCONTENTS OF VOLUME
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2005 PROCEEDINGSCONTENTS OF VOLUME
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Editorial Committee, Proceedings Ed
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2 AN EXAMINATION OF THE INFLUENCE O
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10 AN EXAMINATION OF THE INFLUENCE
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AN EXAMINATION OF THE INFLUENCE OF
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RISKINESS LEVERAGE MODELSRODNEY KRE
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RISKINESS LEVERAGE MODELS 33There a
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RISKINESS LEVERAGE MODELS 59APPENDI
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DISCUSSION OF A PAPER PRESENTED AT
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RISKINESS LEVERAGE MODELS 63known t
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RISKINESS LEVERAGE MODELS 65to be a
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RISKINESS LEVERAGE MODELS 67implies
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RISKINESS LEVERAGE MODELS 734. INTE
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Volume XCII, Part 2 No. 177PROCEEDI
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MODELING FINANCIAL SCENARIOS 179Bab
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MODELING FINANCIAL SCENARIOS 209TAB
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WHEN CAN ACCIDENT YEARS BE REGARDED
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ARCHITECTURE FOR RESIDENTIAL PROPER
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ESTIMATING THE WORKERS COMPENSATION
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INCORPORATION OF FIXED EXPENSESGEOF
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APPLICATION OF THE OPTION MARKET PA
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THE “MODIFIED BORNHUETTER-FERGUSO
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ADDRESS TO NEW MEMBERS-NOVEMBER 14,
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ADDRESS TO NEW MEMBERS 743Now to an
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PRESIDENTIAL ADDRESS-NOVEMBER 14, 2
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MINUTES OF THE 2005 CAS ANNUAL MEET
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REPORT OF THE VICE PRESIDENT-ADMINI
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2005 EXAMINATIONS—SUCCESSFUL CAND
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OBITUARIESROBERT GRANT ESPIECLYDE H
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OBITUARIES 825SIDNEY M. HAMMER1931
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OBITUARIES 827J. GARY LaROSE1947—
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OBITUARIES 829PAUL J. SCHEEL SR.193
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OBITUARIES 831LEO M. STANKUSCirca 1
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INDEX TO VOLUME XCIIPage2005 EXAMIN
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835GRAVES, CLYDE H.INDEX—CONTINUE
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837INDEX—CONTINUEDREPORT OF THE V
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PROCEEDINGS May 15, 16, 17, 18, 2005 - Casualty Actuarial Society

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