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Revised, updated, and even more useful to students, teachers, and practicing professionals The First Edition of Loss Models was deemed "worthy of classical status" by the Journal of the International Statistical Institute. While retaining its predecessor's thorough treatment of the concepts and methods of analyzing contingent events, this powerful...
Revised, updated, and even more useful to students, teachers, and practicing professionals The First Edition of Loss Models was deemed "worthy of classical status" by the Journal of the International Statistical Institute. While retaining its predecessor's thorough treatment of the concepts and methods of analyzing contingent events, this powerful Second Edition is updated and expanded to offer even more complete and flexible coverage of risk theory, loss distributions, and survival models. Beginning with a framework for model building and a description of frequency and severity loss data typically available, it shows readers how to combine frequency, severity, and loss models to build aggregate loss models and credibility-based pricing models, and how to analyze loss over multiple time periods. Important features of this new edition include: * Thorough preparation for relevant parts of preliminary examinations of the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) * Exercises based on past SOA and CAS exams * Examples using actual insurance data * Practical treatment of modern credibility theory * Data files and more from an ftp site Loss Models, Second Edition is an important resource, providing a comprehensive, practically motivated toolkit and an excellent reference, for actuaries preparing for SOA and CAS preliminary examinations, students in actuarial science who need to understand loss and risk models, and practicing professionals involved in loss modeling.
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