scholarly journals Estimating Crop Yield Insurance Premium Rates

1984 ◽  
Vol 13 (1) ◽  
pp. 119-127 ◽  
Author(s):  
Daniel J. Dudek ◽  
P. Geoffrey Allen
Keyword(s):  
Adverse Selection ◽  
Crop Yield ◽  
Technical Change ◽  
Calculation Method ◽  
Insurance Premium ◽  
Premium Calculation ◽  
Premium Rates ◽  
Insurance Rates ◽  
Definition Of ◽  
Yield Insurance

Insurance rates for crop yield protection programs have traditionally been calculated from county average yields. Where grower acreages and yields are not homogeneous, this approach leads to higher premiums and payouts and greater incidence of adverse selection. With individual grower data a production weighted rate premium calculation method can be used which avoids these problems. Furthermore, the definition of rate classes is not constrained to county boundaries. The additional complication of technical change is addressed and one solution is provided. Results are presented for the cranberry industry.

scholarly journals Revenue Insurance for Georgia and South Carolina Peaches

2000 ◽  
Vol 32 (1) ◽  
pp. 123-132 ◽  
Author(s):  
Stephen E. Miller ◽  
Kandice H. Kahl ◽  
P. James Rathwell
Keyword(s):  
South Carolina ◽  
High Coverage ◽  
Premium Rate ◽  
Revenue Insurance ◽  
Statistical Sense ◽  
The Mean ◽  
Premium Rates ◽  
Insurance Rates ◽  
High Yields ◽  
Yield Insurance

AbstractWe estimate actuarially fair premium rates for yield and revenue insurance for Georgia and South Carolina peaches. The premium rates for both products decrease at a decreasing rate as the mean farm-level yield increases. In general, the premium rate for revenue insurance exceeds the premium rate for yield insurance for a given coverage level and expected yield. Although the revenue and yield insurance rates differ in a statistical sense, they do not appear to differ in an economic sense except at high coverage levels for growers with very high yields.

scholarly journals Insurance Premium Calculations with Anticipated Utility Theory

2001 ◽  
Vol 31 (1) ◽  
pp. 23-35 ◽  
Author(s):  
Cuncun Luan
Keyword(s):  
Risk Premium ◽  
Calculation Method ◽  
Utility Theory ◽  
General Framework ◽  
Mean Value ◽  
Insurance Premium ◽  
Anticipated Utility ◽  
Premium Calculation ◽  
The Mean ◽  
The Relationship

AbstractThis paper examines an insurance or risk premium calculation method called the mean-value-distortion pricing principle in the general framework of anticipated utility theory. Then the relationship between comonotonicity and independence is explored. Two types of risk aversion and optimal reinsurance contracts are also discussed in the context of the pricing principle.

Lognormal and log-logistic distribution mixture analysis and application

2021 ◽  
Author(s):  
Jelena Kočović ◽  
Vojislav V. Mitić ◽  
Marija Koprivica ◽  
Vesna Rajić ◽  
Goran Lazović
Keyword(s):  
Em Algorithm ◽  
Life Insurance ◽  
Expectation Maximization ◽  
Insurance Premium ◽  
Logistic Distribution ◽  
Mixture Analysis ◽  
Mortality Model ◽  
Premium Calculation ◽  
Distribution Mixture ◽  
Premium Rates

In this paper, we analyze a mixture of Lognormal and Log-Logistic distribution. We estimate the parameters of the introduced distribution by using the expectation-maximization (EM) algorithm. Various phenomena in the field of medicine and economy could be modeled by this mixture. In this paper, it is used to construct new mortality model for determining the unisex premium rates in life insurance. The application of the model is illustrated in the case of Serbian population and its advantages are presented in the context of life insurance premium calculation.

scholarly journals LEGAL STATUS OF THE POLICYHOLDER IN THE COMPULSORY STATE SOCIAL INSURANCE AGAINST AN ACCIDENT AT WORK AND AN OCCUPATIONAL DISEASE

2020 ◽  
Vol 1 (9) ◽  
pp. 43-50
Author(s):  
Oleksii Soloviov ◽  
Keyword(s):  
Occupational Disease ◽  
Social Insurance ◽  
Legal Status ◽  
Civil Law ◽  
Insurance Premium ◽  
Material Loss ◽  
Social Contribution ◽  
The Law ◽  
Definition Of ◽  
Compulsory State

The article considers the definition of the insured, which is contained in the Law of Ukraine «On collection and accounting of a single contribution to compulsory state social insurance» and based on this it is concluded that it includes only the persons and the main obligation of the insured – payment of insurance premium and does not establish additional or qualifying features that the insured must have. Given that the social security insurance mechanism was borrowed from civil law, the author examined the definition of the insurer from the standpoint of civil law and concluded that the presence of insurance interest is a prerequisite for determining a person as an insured and proposed his own definition of insurance interest – a certain property interest related to the need to suffer material loss in connection with damage to life, health and ability to work of the insured person as a result of an accident or occupational disease that occurs during the performance or in connection with the performance of certain work in the interests of the insured. The author emphasizes that the insurers in the relationship of social insurance against accidents at work and occupational diseases can be primarily employers. Based on the results of the analysis of the definition of the employer in various regulations, it was concluded that there is a certain inconsistency in science and legislation regarding this term, and therefore the legislative definition of the employer needs to be specified. This made it possible to develop proposals for making the necessary changes to certain regulations that contain this term. The concept and features of a single social contribution are researched. Peculiarities of insurance of persons performing works on the terms of civil law contracts are analyzed. Emphasis is placed on the unresolved issue of the customer - an individual who uses the work of other individuals under a civil contract, but without registering them as a business entity. It is believed that such persons should also act as payers of the single social contribution, and therefore it is necessary to amend the Law of Ukraine «On the collection and accounting of the single contribution to the obligatory state social insurance».

scholarly journals Methods of identifying grain production cost when threshing grain crops in view of the need in combine harvesters and combine operators

2019 ◽  
Vol 49 (2) ◽  
pp. 85-93 ◽  
Author(s):  
G. E. Chepurin ◽  
A. P. Tsegelnik
Keyword(s):  
Crop Yield ◽  
Production Cost ◽  
High Performance ◽  
Operating Speed ◽  
Grain Crops ◽  
Grain Crop ◽  
Combine Harvester ◽  
Definition Of ◽  
Combine Harvesters

The paper presents substantiation of the rational use of combine harvesters’nominal throughput when threshing grain crops with the yield ranging from 0.8 to 5.0 t/ha and over. The main factors that determine nominal throughput of combine harvesters and their operational indicators are identified. The structure andcontents of thetechnological passport of combine harvesters are substantiated, and the algorithm of effective determination of their key operational indicators, based on the passport, are developed. These indicators depend on harvesting technology, grain crop yield, the share of non-grain part in the threshed grain bulk, the coverage of swath headers and direct-cut headers, and the operating speed of combine harvesters. The definition of the term “technological passport of the combine harvester” is given. Maximum and minimum allowable grain crop yield is established for the rational load of combine harvesters threshing at the standard operating speed of7.5 km/hrecommended by the Ministry of Agriculture of theRussian Federation. The existing methods make it possible to determine the operational efficiency of high-performance machinery by operational costs. However, they do not take into account the shortage of human resources when determining production cost of the threshed grain. As a result of the research conducted, the algorithm and techniques of determination of actual grain cost when harvesting grain crops by direct combining and swath harvesting methods are developed taking into account the need in combines of an i-class and combine operators. Production cost of grain threshed on the area of1000 hectarescalculated by the techniques developed, allows to define the minimum estimated and actual grain cost for an i-class combine harvester by direct combining and swath harvesting methods.

Note on Determination of Premium Rates for Motor Vehicles (Third Party Risks) Insurance in New Zealand

1972 ◽  
Vol 98 (2) ◽  
pp. 149-156
Author(s):  
J. E. Eriksen ◽  
E. J. Jones
Keyword(s):  
New Zealand ◽  
Life Insurance ◽  
Motor Vehicle ◽  
Third Party ◽  
Motor Vehicles ◽  
Motor Insurance ◽  
Premium Rates ◽  
Insurance Rates ◽  
Basic Ideas

The authors have advised on the level of motor vehicle (third party risks) insurance rates of premium in the circumstances under which that business is written in New Zealand and this paper records the approach taken. It has been prepared in the hope that, as no difficult mathematics are involved, the basic ideas may appeal both to actuaries and to persons other than actuaries who are interested in the transaction of non-life insurance. They are relevant not merely to third party motor insurance but also to non-life insurance generally in a situation where insurance is compulsory and the rates of premium are centrally controlled. In those circumstances more sophisticated techniques of deriving premium rates are less necessary.

Approaches to Evaluation of Profiler Accuracy

2003 ◽  
Vol 1860 (1) ◽  
pp. 129-136 ◽  
Author(s):  
Yongqi Li ◽  
James Delton
Keyword(s):  
Calculation Method ◽  
High Accuracy ◽  
Statistical Correlation ◽  
Definition Of

The inadequacy of the existing ASTM E950 method for definition of the bias of an inertial profiler in the measurement of a pavement profile is analyzed. An improved bias calculation method is proposed. An analysis of the profile measurements and international roughness indexes (IRIs) of four pavement locations was conducted, and the results show that there is no statistical correlation between the profile biases and IRI bias. This analysis demonstrates that a profiler classified as having high accuracy in measuring profiles by ASTM E950 or other proposed bias criteria does not necessarily provide an accurate measurement of IRI. Therefore, it is recommended that the accuracy of a profiler in the measurement of IRI be evaluated independently when IRI, instead of profile, is used for a smoothness specification or other purposes. A criterion to evaluate profilers’ accuracy to measure IRI is developed based on the concept of probability.

scholarly journals Characterization theorems for mean value insurance premium calculation principle

2013 ◽  
Vol 6 (0) ◽  
pp. 57-71
Author(s):  
Mykola Pratsiovytyi ◽  
Vitaliy Drozdenko
Keyword(s):  
Mean Value ◽  
Insurance Premium ◽  
Premium Calculation ◽  
Characterization Theorems

scholarly journals Meeting liberalization of motor liability insurance premium in Serbia

2020 ◽  
Vol 36 (4) ◽  
pp. 44-77
Author(s):  
Jelena Doganjić ◽  
Živorad Ristić
Keyword(s):  
Traffic Safety ◽  
Traffic Accidents ◽  
Insurance Premium ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Market ◽  
Previous Period ◽  
Insurance Premiums ◽  
Degree Of Risk ◽  
Definition Of

Free definition of motor third party liability insurance tariffs leads to individual statement of premiums in agreement with the degree of risk the insured are exposed to i.e. their behaviour in the previous period. Using the experience of neighbouring countries, which have introduced a system of liberalization of motor third party liability insurance premiums, with prior quality preparation, Serbia could establish the liberalization of motor third party liability insurance premiums which could significantly contribute to insurance market advancement. This can also affect the behaviour of drivers, whereby we would raise the level of traffic safety and reduce the consequences and damages caused by traffic accidents.

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