Category: (Book)
14 new, starting at $125.40
5 used, starting at $127.99
This set includes the textbook, Loss Models: From Data to Decisions, Third Edition, ISBN 978-0-470-18781-4 and the ExamPrep for Loss Models: From Data to Decisions, Online, 3rd Edition ISBN 978-0-470-30857-8.
To explore our additional offerings in actuarial exam preparation, visit www.wiley.com/go/actuarialexamprep
Loss modelsReviewed by A student in search of truth., 2010-02-16
A required book as part of the SOA's syllabus. The authors has taken this for granted and and proceeded to assemble pages and pages of formulas with some awful explanations for how the formulas came about. The focus is more on rote learning and getting you through the exams rather than illuminating the ideas behind the contents.
Item is in good conditionReviewed by Jin Ee Mo, 2010-02-10
The book is still in fairly new condition, as was delivered within estimated range of time. I am very satisfied with it.
Mathematics for property and casualty insurance actuariesReviewed by Genevieve Hayes, 2008-03-24
"Loss Models from Data to Decision" is an excellent book that
covers many of the areas of mathematics and statistics that
property and casualty insurance (aka general insurance) actuaries
are required to know. Topics include: frequency and severity
models; aggregate loss models; ruin models; Bayesian statistics;
credibility and simulation. The theory is well explained; with
worked examples throughout and numerous exercises at the end of
each section (these questions are based on past SOA and CAS exam
questions, so are directly relevant to people studying for either
of these exams). Solutions to the exercises are not provided in
this book, but a separate solutions manual is available.
I am a lecturer in Actuarial Studies at an Australian university
and set this book for one of my (later-year undergraduate) units.
In my opinion, this is the best General Insurance text book
available and students whom I have spoken to tell me that they like
this book very much, too. I highly recommend this text for all
student actuaries.
important topic not often coveredReviewed by Michael R. Chernick, 2008-02-13
When I took a job to model prediction of loss reserves for workers
compensation insurance, I began to realize that the traditional
statistical methods that I generally relied n would not help me
(without modification). The required modification would be either
to transform variables or to model long-tailed probability
distributions. This is because in the insurance business you have
to reserve for those big catastrophies. The cost data for workers
compensation data generally show a high frequency of low to
moderate costs... . However occasionally there are a few cases of
sever injury causing permanent disability which could run over 1
million dollars. Even though the probability of occurrence is small
the cost is so high that it cannot be ignored. Such claims will
surely be found when large insurance company cover millions of
employees over many years.
The problem occurs when insuring for floods, earthquakes, fires and
other disasters. Stuart Klugman and Bob Hogg in 1984 wrote the
first introductory text to acquaint statisticians with such
probability models that are important in the insurance business.
Other books covering the subject were covered in books on risk
theory designed for actuaries. This book covers all the topics and
assumes mathematical and staistical knowledge at the level of the
book by Hogg and Craig (so some calculus is required).
Good one but for advance usersReviewed by Humayun Riyasat, 2007-03-01
Nothing else to say. The best book for actuarial mathematics. Also good for risk managers, in particular for operational risk. It does not introduce many concepts but rather take to advance level. Excellent concepts that can be applicable in any topic or situation. A must buy in you want to have your grips on acturial mathematics and concepts
