ACTL1101 Lecture Notes - Lecture 12: Casualty Insurance, Liability Insurance, Vehicle Insurance
Document Summary
Non-life insurance: non-life insurance is also referred to as. Liability insurance can include liability for damage to property and injury to persons, an example is workers com- pensation. See this explanation in the us context. 2 actuarial modelling - occurrence, timing, and severity. Probability function for the poisson distribution with parameter . Pr [n = n] = e n n! n = 0, 1, 2, . The total number of drivers is 91,859, so that the sample average (expected) number of claims is. 89235 0 + 2321 1 + 300 2 + 0 3 + 2 4 + 1 5 = 2934. Properties of the poisson distribution (you do not need to prove this): if the number of claims per unit of time n has a p oisson ( ) distribution then the time between claims will have an. 2: ti is the time between the ith and the (i + 1)th claim for i = 0, 1, 2 .
