Loss Models

Fashioned after Hogg and Klugman's "Loss Distribution", this volume is organized around the principle that much of actuarial science consists of the construction and analysis of mathematical models which describe the process by which funds flow into and out of an insurance system.

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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.