Minimum insurance premium charged by insurer for an individual

Discussion in 'CT7' started by Rupel, Oct 19, 2016.

  1. Rupel

    Rupel Member

    Hi, I am a mathematics graduate and this is my first attempt in economics. Can someone please explain the steps to calculate the minimum insurance premium charged by insurer for an individual using utility function. Kindly help.
     
  2. Varsha Agarwal

    Varsha Agarwal Very Active Member

    Kindly provide the chapter No. From the Study mat.
     
  3. Rupel

    Rupel Member

    This is from Module 4 in CMP.
     
  4. bystander

    bystander Member

    Think back on the definition of utility. In selling insurance what is an insurers 'reward'? That should help you answer your own question
     
  5. Rupel

    Rupel Member

    I got the idea. Thank you very much Sir.
     

Share This Page