A financially Balanced Bonus/Malus System

descriptionPublicationkeyboard_double_arrow_right Article 01 May 1996 English Publisher:Cambridge University Press (CUP)Journal:ASTIN Bulletin, volume 26, pages 107-116 (issn: 0515-0361, eissn: 1783-1350,

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Authors: Geert Coene; Louis G. Doray;

doi: 10.2143/ast.26.1.563236

A financially Balanced Bonus/Malus System

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Abstract

AbstractThe premiums for a bonus-malus system which stays in financial equilibrium over the years are calculated. This is done by minimizing a quadratic function of the difference between the premium for an optimal BMS with an infinite number of classes and the premium for a BMS with a finite number of classes, weighted by the stationary probability of being in a certain class, and by imposing various constraints on the system.

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UNISON
United Kingdom
University of Montreal
Canada

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