Construct · 1 fields · 1 citations

ruin probability: a standalone construct

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Actuarial science

the probability that an insurer's surplus, fed by premiums and drained by random claims, ever falls below zero.

In actuarial science, ruin probability refers to the probability that an insurer's surplus, fed by premiums and drained by random claims, ever falls below zero. This meaning comes from Embrechts (1982) in Insurance: Mathematics and Economics.[1]

Unit
Recovery means
Measured by

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Nearby constructs

gambler's ruin3 fields · 3 citationsinvariant · one construct, three systems surplus4 fields · 4 citationsjingle · one word, four constructs

References

Embrechts, P., & Veraverbeke, N. (1982). Estimates for the probability of ruin with special emphasis on the possibility of large claims. Insurance: Mathematics and Economics, 1(1), 55-72. https://doi.org/10.1016/0167-6687(82)90021-x

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