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A rating model for loss of profits insurance |
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| Authors: | Terje Aven Hanne Myre |
| Institution: | 1. Rogaland University Center , Box 2540 Ullandhaug, N-4001 , Stavanger , Norway;2. University of Oslo |
| Abstract: | Abstract In this paper we present a rating model for loss of profits insurance for a production system consisting of n production units. Explicit expressions for the company's long run expected average claims expenditures are derived. A numerical example is given. |
| Keywords: | loss of profits insurance indemnity period long run expected average claims expenditures Semi-Markov model regenerative process |