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Title: Is a Refundable Deductible Insurance an Advantage for the Insured? A Mathematical Approach
Author: Claramunt Bielsa, M. Mercè
Mármol, Maite
Keywords: Assegurances
Accidents de trànsit
Concessions (Comerç al detall)
Traffic accidents
Franchises (Retail trade)
Issue Date: 17-Feb-2021
Publisher: Public Library of Science (PLoS)
Abstract: Most insurance policies include a deductible, so that a part of the claim is paid by the insured. In order to get full coverage of the claim, the insured has two options: purchase a Zero Deductible Insurance Policy or purchase an insurance policy with deductible together with Refundable Deductible Insurance. The objective of this paper is to analyze these two options and compare the premium paid by each. We define dif(P) as the difference between the premiums paid. This function depends on the parameters of the deductible applied, and we focus our attention on the sign of this difference and the calculation of the optimal deductible, that is, the values of the parameters of the deductible that allow us to obtain the greatest reduction in the premium.
Note: Reproducció del document publicat a:
It is part of: PLoS One, 2021, vol. 16, num. 2, p. e0247030
Related resource:
ISSN: 1932-6203
Appears in Collections:Articles publicats en revistes (Matemàtica Econòmica, Financera i Actuarial)

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