EXPECTED PREMIUM IN THE MODEL OF BONUS-MALUS SYSTEM FAIR BY TRANSITION RULES

• Authors: Podgorska Maria
• Languages of publication: PL

Abstracts

EN

The subject of the paper are basic properties of bonus-malus system fair by the transition rules between classes (BMSF(TR)), of which definition excludes unrealistic bonus-malus systems. The paper presents an ergodic Markov chain which is a BMSF(TR) model and which allows to analyze the properties of expected value of insurance premium according to the features characterizing an insured and a system i.e. claims frequency, class in the initial year, insurance duration and maximum number of claims acknowledged in the system.

Keywords

EN

AUTOMOBILE INSURANCE; BONUS-MALUS SYSTEM; INSURANCE PREMIUM

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Warsaw School of Economics, Collegium of Economic Analysis
• Journal: Roczniki Kolegium Analiz Ekonomicznych
• Year: 2008
• Volume: 18
• Pages: 25-41
• Document type: ARTICLE

Contributors

author

Podgorska Maria

• Maria Podgorska, Szkola Glówna Handlowa w Warszawie, Instytut Ekonometrii, al. Niepodleglosci 164, 02-554 Warszawa, Poland

Identifiers

CEJSH db identifier

09PLAAAA061621