Based on the experience of the author of actuarial education students last year in Britain and Australia and suitable for a first course in the theory of insurance risk, this book focuses on the two main areas of the theory of risk - comprehensive claims distribution and theory of ruin. For the distribution of comprehensive claims, detailed descriptions are given recursive techniques that can be used in individual and collective risk models. The collective model, different counting distribution classes and recursion schemes for the functions of probability and the moments presented are discussed. The individual model, the three commonly applied techniques are discussed and illustrated. Care has been taken to make books available to readers who have a solid understanding of the basis of the theory of probabilities tools. Many worked examples are included in the text, and every chapter ends with exercises, who answers in the book. To learn more...
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