- Series: Wiley Series in Probability and Statistics (Book 408)
- Hardcover: 720 pages
- Publisher: Wiley-Interscience; 2 edition (August 24, 2004)
- Language: English
- ISBN-10: 0471215775
- ISBN-13: 978-0471215776
- Product Dimensions: 6.5 x 1.4 x 9.4 inches
- Shipping Weight: 2.6 pounds (View shipping rates and policies)
- Average Customer Review: 3.8 out of 5 stars See all reviews (21 customer reviews)
- Amazon Best Sellers Rank: #596,366 in Books (See Top 100 in Books)
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Loss Models: From Data to Decisions, Second Edition 2nd Edition
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"The book is well-written. Each chapter contains a good number of examples and exercises for the reader." (Mathematical Reviews, 2005f)
From the Publisher
Much of actuarial science consists of constructing and analyzing mathematical models that describe how fluids flow into and out of an insurance system. This book examines contemporary topics such as risk theory and economics, credibility and stochastic processes with a focus on the loss process, or the outflow of cash due to the payment of benefits. --This text refers to an out of print or unavailable edition of this title.
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Top Customer Reviews
The problem occurs when insuring for floods, earthquakes, fires and other disasters. Stuart Klugman and Bob Hogg in 1984 wrote the first introductory text to acquaint statisticians with such probability models that are important in the insurance business. Other books covering the subject were covered in books on risk theory designed for actuaries. This book covers all the topics and assumes mathematical and staistical knowledge at the level of the book by Hogg and Craig (so some calculus is required).
I am a lecturer in Actuarial Studies at an Australian university and set this book for one of my (later-year undergraduate) units. In my opinion, this is the best General Insurance text book available and students whom I have spoken to tell me that they like this book very much, too. I highly recommend this text for all student actuaries.