Bonus-malus Systems with Varying Deductibles

descriptionPublicationkeyboard_double_arrow_right Article 01 May 2005 English Publisher:Cambridge University Press (CUP)Journal:ASTIN Bulletin, volume 35, pages 261-274 (issn: 0515-0361, eissn: 1783-1350,

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Authors: Pitrebois, Sandra; Walhin, Jean-François; Denuit, Michel;

doi: 10.2143/ast.35.1.583175

Bonus-malus Systems with Varying Deductibles

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Abstract

Bonus-malus systems typically lead to high maluses when claims at fault are reported. Such penalties are often difficult to implement in practice. It is shown in this paper that this drawback may be avoided by combining a posteriori premium corrections with a deductible varying according to the level occupied in the scale.

Related Organizations

Université Catholique de Louvain
Belgium

Keywords

Applications of statistics to actuarial sciences and financial mathematics, Markov chains, Risk theory, insurance, differentiated bonus scale deductibles

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