An average model approach to experience based premium rates discounts : an application to Spanish agricultural insurance

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<dc:creator>Vilar-Zanón, José L.</dc:creator>
<dc:creator>Heras, Antonio</dc:creator>
<dc:creator>Frutos, Estela de</dc:creator>
<dc:date>2020-12-07</dc:date>
<dc:description xml:lang="es">Sumario: We address some issues in agricultural insurance, describing drawbacks of the bonus-malus system (BMS) methodology used in Spain and many other EU countries. We develop an alternative experience based premium rate discount system taking into account the adverse years when high losses caused by extreme weather events happen. Our contribution consists of a two-step methodology. Firstly, we use tobit or Tweedie regressions to calculate yearly correction rates. Secondly, we calculate the mean of the correction rates. This average model acts as a buffer against adverse year losses. We compare three alternatives: our two resulting average models and the BMS operating in the Spanish line of business exemplifiedtable grapes.

</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/179548.do</dc:identifier>
<dc:language>spa</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Seguros agrarios</dc:subject>
<dc:subject xml:lang="es">Cálculo actuarial</dc:subject>
<dc:subject xml:lang="es">España</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">An average model approach to experience based premium rates discounts : an application to Spanish agricultural insurance</dc:title>
<dc:relation xml:lang="es">En: European Actuarial Journal. - Cham, Switzerland  : Springer Nature Switzerland AG,  2021-2022. - 07/12/2020 Volúmen 10 - Número 2 - diciembre 2020 , p. 361-375</dc:relation>
<dc:coverage xml:lang="es">España</dc:coverage>
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