Modern Actuarial Risk Theory |  | Authors: Rob Kaas, Marc Goovaerts, Jan Dhaene, Michel Denuit
Publisher: Springer
Category: Book
List Price: $79.95
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Seller: gbsbooks
Rating:  2 reviews
Sales Rank: 358,593
Media: Paperback
Edition: 1
Pages: 328
Number Of Items: 1
Shipping Weight (lbs): 1
Dimensions (in): 9.1 x 6.1 x 0.9
ISBN: 1402029527
Dewey Decimal Number: 368
EAN: 9781402029523
ASIN: 1402029527
Publication Date: October 5, 2004
Availability: Usually ships in 1-2 business days
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Product Description
Apart from standard actuarial theory, Modern Actuarial Risk Theory contains methods that are relevant for actuarial practice, for instance the rating of automobile insurance policies, premium principles and IBNR models, as well as generalized linear models with an eye on actuarial applications. Furthermore extensive introductions are given to credibility theory and ordering of risks. The book reflects the state of the art in actuarial risk theory. In addition to some chapters which are compatible with official material of actuarial education in North-America, Europe and other parts of the world, the book contains important material on topics that are relevant for recent insurance and actuarial developments including determining solvency measures, fair-value computations, reserving, ranking of risks, modelling dependencies and the use of generalized linear models. Basic ideas on risk measures in the framework of insurance premiums are also considered. The numerous exercises contained in Modern Actuarial Risk Theory, together with the hints for solving the more difficult ones and the numerical answers to many others, make the book useful as a textbook. Some important practical paradigms in insurance are presented in a way that is appealing to actuaries in their daily business. The mathematical background assumed is on a level such as acquired in the first stage of a bachelors program in quantitative economics or mathematical statistics.
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| Customer Reviews:
 Ideal foundation for P&C actuaries September 6, 2008
L. J. G. Smulders
0 out of 1 found this review helpful
This book is both a very good foundation for those who wish to study P&C actuarial theory and as a reference. Enough mathematics to be complete, but no useless pedantic mathematical theory that would deter non mathematicians. The writing style is dense and the excercises are an essential part of the book. Once you accept this, this book is both an ideal introduction and an invaluable reference in actuarial risk theory.
 Needs more detailed explanations! March 16, 2006
Vito (London, UK)
1 out of 5 found this review helpful
If you, like me, will start hating the whole subject of non-life insurance while reading this book, don't blame yourself, it's not your fault. The book needs more structure and detailing to be recommended to master students, not to mention bachelor ones.
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