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On the Definition of Catastrophe Claims and the Calculation of their Expected Cost for the Purpose of Long Range Planning and Profit Centre Control

Published online by Cambridge University Press:  29 August 2014

Björn Ajne  and
Harry Wide
Björn Ajne*
Affiliation:
Skandia, Stockholm
Harry Wide*
Affiliation:
Skandia, Stockholm
*
SKANDIA, S-10350, Stockholm, Sweden
SKANDIA, S-10350, Stockholm, Sweden
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Abstract

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Some reasons are given for paying special attention to the gross cost of catastrophe claims in planning and control. A method is then described of defining catastrophe claims and estimating their expected cost. The various steps in applying the method to real data and its performance for planning and control are discussed and illustrated in conjunction with an investigation carried out on a company portfolio.

Keywords

Large claimsplanning and controlfire insurancemachinery breakdown insurance
Type
Workshop
Information
ASTIN Bulletin: The Journal of the IAA , Volume 17 , Issue 2 , November 1987 , pp. 171 - 177
Copyright
Copyright © International Actuarial Association 1987