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Joint insurance and capitalization costs. (English) Zbl 0629.62103
This paper studies the underpinnings of three related issues that arise in joint insurance. These are: capitalization, premium payments and relevance (or irrelevance) of insolvency. Principally, a dynamical model is constructed and investigated in terms of the impact of the policies a joint insurance firm may follow. A discussion relating to agency costs and re-capitalization in joint insurance, as well as a specific case are treated in detail.
62P05 Applications of statistics to actuarial sciences and financial mathematics
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