Pricing: The Science of Estimating the Risk Cost

Catrin Townsend ()

Chapter Chapter 8 in A Risky Business, 2022, pp 167-190 from Springer

Abstract: Abstract In order to set the premium, first the cost of the policy must be estimated. The cost can be split into risk cost and non-risk cost. As suggested by the name, the risk cost is the expected risk-related outgoings, i.e., claims payments; and the non-risk cost is anything else, such as wages for insurance staff, rent for the office space, or broker commission. In this chapter, we’ll focus on estimating the risk cost.

Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-11673-5_8

Ordering information: This item can be ordered from
http://www.springer.com/9783031116735

DOI: 10.1007/978-3-031-11673-5_8

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().