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Aggregate payment technique (taking the expected value of the total present value): This is similar to the method for a life insurance policy. This time the random variable Y is the total present value random variable of an annuity of 1 per year, issued to a life aged x, paid continuously as long as the person is alive, and is given by:
The key with a net premium valuation is that the premiums being valued are theoretical measures - they make no reference to the actual premiums being charged by the insurer. This technique is a well-established actuarial valuation method, that became popular because of its simplicity, consistency, and ease of calculation.
The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields. Its intent is to estimate incurred but not reported claims and project ultimate loss amounts. [5]
"Estimated Impact on the Federal Deficit and Insurance Premiums from Creating a New Health Plan Tier with an Actuarial Value Level of 50 Percent" (PDF). Archived from the original (PDF) on 2014-09-08. (Report to the Council for Affordable Health Coverage) Mendelson, Dan (June 27, 2011). "Establishing Sensible Cost Sharing for Medicare Cancer ...
Hattendorff's Theorem, attributed to K. Hattendorff (1868), is a theorem in actuarial science that describes the allocation of the variance or risk of the loss random variable over the lifetime of an actuarial reserve. In other words, Hattendorff's theorem demonstrates that the variation in the present value of the loss of an issued insurance ...
Actuarial science is the discipline that applies ... and valuation tools to provide financial and underwriting data for management to assess marketing opportunities ...
It is generally equal to the actuarial present value of the future cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy.
An immediate consequence is that value at risk might discourage diversification. [1] Value at risk is, however, coherent, under the assumption of elliptically distributed losses (e.g. normally distributed) when the portfolio value is a linear function of the asset prices. However, in this case the value at risk becomes equivalent to a mean ...