Summary
The paper focuses on rational insurance purchasing decisions in an industrial setting which are characterized by the possibility of many losses during the period of insurance protection. Rational insurance coverage can be achieved through coinsurance in terms of deductible arrangements and insurance limits. Analyzing various degrees of coinsurance requires the distribution of the cost retained as a result of deductibles and insurance limits. A method for deriving this distribution is developed. The approach is applied to a sample problem using different decision criteria.
Zusammenfassung
Die Arbeit befaßt sich mit dem Problem rationaler Entscheidungen hinsichtlich des Versicherungsbestandes im Unternehmen, das durch die Möglichkeit mehrerer Schäden gekennzeichnet ist. Rationale Entscheidungen sind durch den nur begrenzten Transfer (Selbstbeteiligung, Versicherungsgrenzen) der finanziellen Konsequenzen von Risiken möglich. Die Analyse verschiedener Entscheidungen erfordert jedoch die Wahrscheinlichkeitsverteilung der selbst zu tragenden Verluste. In der Arbeit wird ein Verfahren entwickelt, um diese Verteilung zu gewinnen. Der Ansatz ist beispielhaft für verschiedene Entscheidungskriterien illustriert.
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The authors gratefully acknowledge the support of this research from the Associates Fund, School of Business Administration, University of Western Ontario.
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von Lanzenauer, C.H., Wright, D. Selecting rational insurance coverage. Zeitschrift für Operations Research 19, 49–62 (1975). https://doi.org/10.1007/BF01958600
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DOI: https://doi.org/10.1007/BF01958600