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  2. Increased limit factor - Wikipedia

    en.wikipedia.org/wiki/Increased_limit_factor

    Berry, Catherine (October 2009), The Determination of Revised Increased Limit Factors and Deductible Credits for S.A. Professional Indemnity and Fidelity Guarantee Insurance Business; Norrick, Brad, Demystifying Actuarial Reports (PDF) Meyers, Glenn, The competitive market equilibrium risk load formula for increased limits ratemaking (PDF)

  3. Reinsurance Actuarial Premium - Wikipedia

    en.wikipedia.org/wiki/Reinsurance_Actuarial_Premium

    Typically burning cost is the estimated cost of claims in the forthcoming insurance period, calculated from previous years' experience adjusted for changes in the numbers insured, the nature of cover and medical inflation.

  4. Actuarial reserves - Wikipedia

    en.wikipedia.org/wiki/Actuarial_reserves

    The loss random variable is the starting point in the determination of any type of actuarial reserve calculation. Define K ( x ) {\displaystyle K(x)} to be the future state lifetime random variable of a person aged x.

  5. Condition of average - Wikipedia

    en.wikipedia.org/wiki/Condition_of_average

    Illustration of the partial payout of Sum Insured against probability of occurrence. Condition of average (also called underinsurance [1] in the U.S., or principle of average, [2] subject to average, [3] or pro rata condition of average [4] in Commonwealth countries) is the insurance term used when calculating a payout against a claim where the policy undervalues the sum insured.

  6. Indemnity - Wikipedia

    en.wikipedia.org/wiki/Indemnity

    An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).

  7. Index-based insurance - Wikipedia

    en.wikipedia.org/wiki/Index-based_insurance

    Index-based insurance, also known as index-linked insurance, weather-index insurance or, simply, index insurance, is primarily used in agriculture.Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries.

  8. Microsoft Excel - Wikipedia

    en.wikipedia.org/wiki/Microsoft_Excel

    Microsoft Excel is a spreadsheet editor developed by Microsoft for Windows, macOS, Android, iOS and iPadOS.It features calculation or computation capabilities, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications (VBA).

  9. Gross-up clause - Wikipedia

    en.wikipedia.org/wiki/Gross-up_clause

    The sequence of additional payment, tax calculation, additional payment continues until the recipient receives the same amount, net of all the taxes, as would have been received had there been no taxes. The formula for calculating the total amount of a grossed-up payment is (the amount of the payment) divided by (1 minus the tax rate). Thus, a ...