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P&I without the British accent (but with a little help from friends)
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P&I UnderwritingBrian Gedalla, the statistician who keeps the loss statistics for the International Group Pool, wrote a thoughtful essay on the analysis that ought to go into pricing a P&I entry. You can read it on his firm's site, or here, because I downloaded it. It's on pp. 4-5 of this pdf file. Brian also gave a talk to the Casualty Actuarial Society this year, and prepared some useful slides for it. Hugh Bryant, a lawyer who knows something about P&I underwriting(?!!), wrote this article which unfortunately no longer seems to be on any website. Joe Hughes, a lawyer who
is still making a living as a P&I
underwriter, once said, after hearing actuaries describe a pricing
model, "There is such a thing as a market, you know." |