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What is the key difference between the two? I see that both of them delegate the authority to underwrite certain risks on your behalf. Under...
How to understand sum insured year better? What i understand is that it is : (Sum Insured under a policy)*(Number of years for which it is...
A practice question of chapter 2 talks about the problems associated with switching from a claims made to losses occurring. I understand that this...
Who takes out marine and aviation liability insurance? Manufacturer or the operator? Asking because the measure of exposure section for MnA...
Page reference: Section 3.3 Chapter 15 I could not understand the adjustment to ILF if we expect losses to have increased uniformly by a% between...
Does stop Loss cover only the policies that are written already at the time the reinsurance treaty is entered into? If not, then if the insurer...
Correct me if i am wrong here:-When we analyse time series process we first need to convert it to a stationarity and for this purpose we...
1.What is mu (expectation constant) interpreted as when the AR(P) process is non-stationary? 2.Why is it included in the model explicitly? 3.I...
Why do we say that Binomial Distribution belongs to the exponential family of distribution even though its PDF cannot be expressed in that form,...
Does the bayesian estimate of the model parameter also follows the invariance property just like the maximum likelihood estimate. Also, does it...
Why do we require the moving average process to be invertible and try to write the white noise process in terms of the X process?
Why is it that the aggregate claim amount random variables S(i) under heterogeneous portfolio are independent, but under homogeneous portfolio not...
Explain : The risk parameter, (theta) , is a real number for the normal/normal model but could be a more general quantity for EBCT Model 1. What...
In many cases, different decision criterion lead to different optimum strategy under the same circumstances. For example in the exam-style...
Is bid-offer spread deducted in the end after deducting all other appropriations like policy fee and allocation charges at the start of the year,...
If lambda is to be that small, then the force of mortality becomes negative, which to me doesnot makes any sense. Although, mathematically we are...
How is the epv of increase in reserves equal to epv of interest earned on reserves possible?
If Non Unit fund's Interest rate is not given, then do we assume that it is same as the interest rate on Unit Account?
Why can't surrenders take place in the final year of the policy?
When more than 100% of premium is allocated to the unit fund in a year, then should that extra addition to the unit account by the company be...
Why do we say that baseline hazard represents the hazard function of individuals with zero covariate vector always, however it will be true only...
If there are surrenders possible under an endowment assurance policy, then should we allow for the surrender values in the calculation of net...
Is the baseline hazard also estimated in exactly the same way as the hazard estimation procedure under Kaplan-Meier model.
Why is that backward system of differential equations become fundamentally more important when the transition rates are unbounded?
Why is it that we require covariance to depend only on the time lag also (besides constant mean and variance, which is intuitive to me),for a...
in a two state markov model, the joint p.d,f of the statistics D and V looks exactly similar to the p.d.f of V alone with the only exception that...
It is given while specifying the observational plan for a two state markov model, that we suppose, that we observe N i.i.d lives retrospectively....
I could not understand how white noise process can be used as a starting point to construct more elaborate processes? How is it useful?
