Titlebook: A Risky Business; An Actuary’s Guide t Catrin Townsend Book 2022 The Editor(s) (if applicable) and The Author(s), under exclusive license t

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https://doi.org/10.1007/978-90-481-2253-0, the customer could be a business) feels the need to have insurance to transfer some risk, presumably they can specify at least one risk they wish for the insurance to cover. Specific things that can go wrong are called perils.?The easiest way to identify which perils might be relevant for a custom

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Cesare Rossi,Flavio Russo,Ferruccio Russoholidays, or quickly considered the odds of drawing a certain card in a game before making a bet. You may have also calculated summary statistics (mean, mode, median, variance, skew) for a set of data in a preliminary statistics or math course.?For most people, summary statistics are more than adequ

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Adduction and Distribution of Water not to include some detail on the quantification of certain events too; after all, if we can’t quantify certain events, what hope have we for the complexities of ‘maybe’? In this chapter, we will consider monetary transactions that we are certain will happen at a given time in the future. Actuaries

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Automata (Towards Automation and Robots)s clearly going to be more difficult to evaluate the value of a series of cashflows that are paid at an uncertain time in the future, for example those that are paid if (and only if) something happens.