非寿险精算Coverage ModificationsPPT.pptxVIP

Ch3 Coverage Modifications Based on the loss distribution X, the payment of an insurance policy should be distinguished between per loss and per payment . We consider the payments , under Ordinary deductible Franchise deductible Inflation effect on payment Policy limit Coinsurance Ch3.1 Ordinary deductible Def: When loss X is at or below d, pays nothing; when loss X is above d, pays X-d. Payment per payment Payment per loss Ch3.2 Franchise deductible Def: When loss X is at or below d, pays nothing; when loss X is above d, pays X. Payment per payment Payment per loss Expected cost Ordinary deductible the expected cost per loss is The expected cost per payment is Franchise deductible the expected cost per loss is The expected cost per payment is Ch3.3 effects of deductible and inflation on payment Loss elimination ratio =(expected loss-expected cost)/expected loss Ordinary deductible Franchise deductible Ch3.5 coinsurance Def When loss is X, pays aX; With ordinary deductible d, policy limit u inflation r and coinsurance a