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Premiums in non-Life Insurance: on the Property of Iterativity

Author

Listed:
  • Covrig Mihaela

    (The Bucharest University of Economic Studies, Faculty of Economic Cybernetics, Statistics and Informatics, Department of Statistics and Econometrics)

Abstract

This paper presents the premium calculation principles related to an insurance risk together with the desirable properties that should be satisfied. The main result concerns the iterativity property of the principle of equivalent utility (or the principle of zero utility). We compare two loss distributions through their calculated premiums.

Suggested Citation

  • Covrig Mihaela, 2012. "Premiums in non-Life Insurance: on the Property of Iterativity," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1055-1058, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1055-1058
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    More about this item

    Keywords

    non-life insurance; insurance premiums; principles of premium calculation; principle of equivalent utility (or principle of zero utility); iterativity.;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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