AMS 4700

This course covers the basic methods to calculate premiums and reserves for short-term insurance coverages; the role of rating factors and exposure; the different forms of experience rating; the description and application techniques for estimating unpaid losses from a run-off triangle; the following methods: Chain ladder, Average cost per claim, Bornhuetter Ferguson; and the underlying statistical models for these methods; as well as premiums calculation using the pure premium and loss ratio methods. Three lecture hours per week plus a one hour lab per week