Modelling of Insured Losses of Natural Catastrophes Using Block Maxima Model

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F19%3A39913055" target="_blank" >RIV/00216275:25410/19:39913055 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.itm-conferences.org/articles/itmconf/abs/2019/01/itmconf_amcse18_02001/itmconf_amcse18_02001.html" target="_blank" >https://www.itm-conferences.org/articles/itmconf/abs/2019/01/itmconf_amcse18_02001/itmconf_amcse18_02001.html</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1051/itmconf/20192402001" target="_blank" >10.1051/itmconf/20192402001</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Modelling of Insured Losses of Natural Catastrophes Using Block Maxima Model

Popis výsledku v původním jazyce

Catastrophic events have a huge impact on society as a whole. Insurance, or reinsurance is one way of reducing the economic consequences of catastrophic events. By Sigma Swiss Re criteria the event can be noted as a catastrophe when the economic losses, insured claims or casualties associated with an event exceed just one of the thresholds. These thresholds are updated every year. We can observe a growing trend in both the number of catastrophic events as well as in total economic losses and insured losses too. Risk management of insurance and reinsurance companies have to have available relevant information for estimation and adjusting premium to cover these risks. The aim of this article is to present one of the useful method – block maxima method. This method uses information from historical events about insured losses of natural catastrophes and estimates future insured losses. These estimates are very important for actuaries and for risk managers as it is one of the bases for calculating and adjusting premiums of products covering these types of risks.

Název v anglickém jazyce

Modelling of Insured Losses of Natural Catastrophes Using Block Maxima Model

Popis výsledku anglicky

Catastrophic events have a huge impact on society as a whole. Insurance, or reinsurance is one way of reducing the economic consequences of catastrophic events. By Sigma Swiss Re criteria the event can be noted as a catastrophe when the economic losses, insured claims or casualties associated with an event exceed just one of the thresholds. These thresholds are updated every year. We can observe a growing trend in both the number of catastrophic events as well as in total economic losses and insured losses too. Risk management of insurance and reinsurance companies have to have available relevant information for estimation and adjusting premium to cover these risks. The aim of this article is to present one of the useful method – block maxima method. This method uses information from historical events about insured losses of natural catastrophes and estimates future insured losses. These estimates are very important for actuaries and for risk managers as it is one of the bases for calculating and adjusting premiums of products covering these types of risks.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

10103 - Statistics and probability

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

ITM Web of Conferences

ISBN

—

ISSN

2271-2097

e-ISSN

2271-2097

Počet stran výsledku

6

Strana od-do

1-6

Název nakladatele

EDP Sciences

Místo vydání

Les Ulis

Místo konání akce

Řím

Datum konání akce

23. 11. 2018

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000473095100016