Abstract
This paper outlines a very simple structure for the practical analysis of motor premiums from a UK point of view. It indicates that it is possible to model different types of claims cost. These results are combined together with some simple economic assumptions, to arrive at premiums. Then the paper develops a ‘points system’ which is similar to a number of premium systems operated by UK Insurance Companies. This ‘points system’ is used to compare different sets of assumptions. Finally, an analysis of surplus is described with an example.
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