Risks and insurance

Annamaria Olivieri () and Ermanno Pitacco ()
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Annamaria Olivieri: Università di Parma, Dipartimento di Economia
Ermanno Pitacco: Università di Trieste, Dipartimento di Scienze Economiche, Aziendali, Matematiche e Statistiche

Chapter Chapter 1 in Introduction to Insurance Mathematics, 2011, pp 1-67 from Springer

Abstract: Abstract The main purposes of this Chapter are: • to present the concept of individual “risk”, focussing in particular on quantitative aspects of the (negative) financial consequences of some events which can concern a person, a family, a firm, and so on; • to introduce the role of an insurance company (briefly, an insurer), which takes individual risks, building up a “pool”, and then bears the risk of losses caused by an unexpected number of events in the pool, or by an unexpected severity of the financial consequences of such events.

Keywords: Risk Aversion; Risk Measure; Random Amount; Insurance Contract; Insurance Product (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-16029-5_1

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DOI: 10.1007/978-3-642-16029-5_1

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