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Abstract
An alternative approach to the variance principle of premium determination is explored. The approach rationalises the principle in terms of an economic theory and formalises the notion that loadings in addition to the ‘fair’ premium are related to competition and expenses.
P. P. Boyle and B. Zehnwirth provided valuable comments and encouragement. These are gratefully acknowledged.
P. P. Boyle and B. Zehnwirth provided valuable comments and encouragement. These are gratefully acknowledged.
Notes
P. P. Boyle and B. Zehnwirth provided valuable comments and encouragement. These are gratefully acknowledged.