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Description
Catastrophe events occur rather infrequently, but upon their occurrence, can lead to colossal losses for insurance companies. Due to their size and volatility, catastrophe losses are often treated separately from other insurance losses. In fact, many property and casualty insurance companies feature a department or team which focuses solely on modeling catastrophes. Setting reserves for catastrophe losses is difficult due to their unpredictable and often long-tailed nature. Determining loss development factors (LDFs) to estimate the ultimate loss amounts for catastrophe events is one method for setting reserves. In an attempt to aid Company XYZ set more accurate reserves, the research conducted focuses on estimating LDFs for catastrophes which have already occurred and have been settled. Furthermore, the research describes the process used to build a linear model in R to estimate LDFs for Company XYZ's closed catastrophe claims from 2001 \u2014 2016. This linear model was used to predict a catastrophe's LDFs based on the age in weeks of the catastrophe during the first year. Back testing was also performed, as was the comparison between the estimated ultimate losses and actual losses. Future research consideration was proposed.
ContributorsSwoverland, Robert Bo (Author) / Milovanovic, Jelena (Thesis director) / Zicarelli, John (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
AARP estimates that 90% of seniors wish to remain in their homes during retirement. Seniors need assistance as they age, historically they have received assistance from either family members, nursing homes, or Continuing Care Retirement Communities. For seniors not wanting any of these options, there has been very few alternatives. Now, the emergence of the continuing care at home program is providing hope for a different method of elder care moving forward. CCaH programs offer services such as: skilled nursing care, care coordination, emergency response systems, aid with personal and health care, and transportation. Such services allow seniors to continue to live in their own home with assistance as their health deteriorates over time. Currently, only 30 CCaH programs exist. With the growth of the elderly population in the coming years, this model seems poised for growth.
ContributorsSturm, Brendan (Author) / Milovanovic, Jelena (Thesis director) / Hassett, Matthew (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
The topic of elder abuse is relatively unknown and not talked about among the general public. Traditionally, society values one’s life the younger that person is on the grounds that the younger person has most likely not experienced life to the fullest extent as much as the older person has. The point of bringing up this way of thinking is not to refute it but to point out that a product of this societal mindset is that the elderly population is often forgotten about or placed on a lower priority level when considering medical and safety issues. This is a major factor that contributes to the vulnerability of older persons, who often must give up their autonomy due to the aging process and learn to live while being dependent on a caretaker. Elders are often in situations where they are isolated from the rest of the world and place their trust in their caretakers to help them live out the rest of their lives. Unfortunately, the process of aging and becoming dependent opens up the opportunity for this vulnerable age group to be taken advantage of and abused. The National Council on Aging reported that about 1 in 10 elderly Americans that are 60 years old or older have been abused in some capacity, and only about 1 in 14 of these cases are reported (NCOA, 2020). As the world population ages, these statistics face the risk of getting worse and exposing more elders to abuse while less and less abuse cases are reported to authorities. This presents the opportunity for elder abuse research to guide healthcare institutions that are related to caring for the elderly on how to care for and prevent elder abuse from occurring; however, this research is quite limited in comparison to the research, treatments, and prevention programs developed for other types of domestic abuse. The aim of this paper is to create an overall understanding of elder abuse as a whole and get a sense of the state of elder abuse so recommendations can be made on how to proceed in bettering the current issues elder abuse faces.
ContributorsCampbell, Alexander Daza (Author) / Kobojek, Kimberly (Thesis director) / Bolhofner, Katelyn (Committee member) / School of Mathematical and Natural Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05