Description
Book SynopsisDesigned as a first course in insurance risk theory for readers with a solid understanding of basic probability, this book develops the two major areas of risk theory: aggregate claims distributions and ruin theory. The new edition includes additional exercises and expanded sections on contemporary topics.
Table of ContentsPreface; 1. Probability distributions and insurance applications; 2. Utility theory; 3. Principles of premium calculation; 4. The collective risk model; 5. The individual risk model; 6. Introduction to ruin theory; 7. Classical ruin theory; 8. Advanced ruin theory; 9. Reinsurance; Appendix; Solutions to exercises; References; Index.
