A resimulation framework for event loss tables based on clustering

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SUMMARY

This Article deals with a numerically efficient way to resimulate event loss tables (ELTs), which contain simulated losses due to natural catastrophe events and for which the resimulation forms the basis to incorporate them into internal risk models of insurance companies. Basically, there are two different approaches for modeling these losses within insurance companies, e_g. The amount of rejections for both resimulation frameworks is the same for the earthquake ELT such that the high rejection rate is more due to the variation in the simulation than due to the clustering framework. In Fig 6a . . .

 



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