Insurance Risk and Ruin (International Series on Actuarial Science)

GHS 45.00 GHS 42.00
Caspian Outlet

Based on the author’s experience of teaching final-year actuarial students in Britain and Australia, and suitable for a first course in insurance risk theory, this book focuses on the two major areas of risk theory – aggregate claims distributions and ruin theory. For aggregate claims distributions, detailed descriptions are given of recursive techniques that can be used in the individual and collective risk models. For the collective model, different classes of counting distribution are discussed, and recursion schemes for probability functions and moments presented. For the individual model, the three most commonly applied techniques are discussed and illustrated. Care has been taken to make the book accessible to readers who have a solid understanding of the basic tools of probability theory. Numerous worked examples are included in the text and each chapter concludes with exercises, which have answers in the book and full solutions available for instructors from

Editorial Reviews
Book Description
Ideal for a first course in insurance risk theory. Includes numerous worked examples and exercises for which solutions are provided. –This text refers to an out of print or unavailable edition of this title.
“This is a nice introduction to some basic aspects of risk theory, with special emphasis on utility theory, recursive methods and ruin theory. The book is written in a style which is close to what a presentation in a classroom might be: it is narrative and moves ahead from definitions to results in a flow of mathematical arguments and accompanying explanations…The book greatly benefits from numerical illustrations, numerous examples and many exercises and their solutions. What I appreciate most is the way in which the author explains the different topics dealt with in this book.” ISI Short Book Reviews

“…this is a nice textbook, especially for students with a limited background in probability. In particular, it should be useful for students studying fro the professional examination…. I am not aware of any book on the same level in which ruin theory is treated so deeply. The numerous exercises allow for the application of theory immediately. For this reason, this book is also ideal for an applied course for students with only a basic introduction to probability.”
Journal of the American Statistical Association

“A clear, concise and well written text-book on two daunting actuarial areas… The exposition is so clear that it feels like [the author is] talking to you… This is an excellent book equally suitable for self-study and classroom instruction. It is highly recommended as supplementary reading for students studying for their professional exams and as an overview of the latest developments in risk models, ruin theory and reinsurance for practitioners.”
Seow Fan Chong, Annals of Actuarial Science –This text refers to the printed_access_code edition.
About the Author
David C. M. Dickson is a Professor in Actuarial Studies in the Department of Economics at the University of Melbourne. He is also Adjunct Professor in the Department of Statistics and Actuarial Science at the University of Waterloo. –This text refers to the printed_access_code edition.
Book Description
The book is ideal for a first course in insurance risk theory. It focuses on major areas in this subject – aggregate claims distributions, ruin theory, utility theory, premium calculation principles and reinsurance problems. Numerous worked examples are included and each chapter has exercises for which outline solutions are provided. –This text refers to the printed_access_code edition.

Product Key Features
Format Hardcover
Language English
Publication Year 2005
Number of Pages 242 Pages

Item Length 9in.
Item Height 0.7in.
Item Width 6in.
Item Weight 18.8 Oz

Author David C. M. Dickson
Table of Content Preface; 1. Probability distributions and insurance applications; 2. Utility theory; 3. Principles of premium calculation; 4. The collective risk model; 5. The individual risk model; 6. Introduction to ruin theory; 7. Classical ruin theory; 8. Advanced ruin theory; 9. Reinsurance; References; Solutions to exercises; Index.
Copyright Date 2004
Target Audience College Audience
Topic Insurance / Risk Assessment & Management, Insurance / General, Statistics
Lccn 2004-054520
Dewey Decimal 368.01
Series International Series ON Actuarial Science Ser.
Dewey Edition 22
Illustrated Yes
Genre Business & Economics



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