A Comparative Analysis of 30 Bonus-Malus Systems

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Business Economics and Public Policy Papers
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Business
Economics
Public Affairs, Public Policy and Public Administration
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Lemaire, Jean
Zi, Hongmin
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The automobile third party insurance merit-rating systems of 22 countries are simulated and compared, using as main tools the stationary average premium level, the variability of the policyholders' payments, their elasticity with respect to the claim frequency, and the magnitude of the hunger for bonus. Principal components analysis is used to define an “Index of Toughness” for all systems.

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1994-11-01
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ASTIN Bulletin: The Journal of the IAA
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