insurance
https://plus.maths.org/content/taxonomy/term/588
enMeasuring catastrophic risk
https://plus.maths.org/content/misinterpretation-risk-metrics
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Shane Latchman </div>
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<p>Insurance companies offer protection against rare but catastrophic events like hurricanes or earthquakes. But how do they work out the financial risks associated to these disasters? Shane Latchman investigates.</p>
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<h3>The notion of uncertainty</h3>
<p>In the early 19th century, the French mathematician <a href="http://www-history.mcs.st-and.ac.uk/Biographies/Laplace.html">Pierre-Simon de Laplace</a> wrote of a concept he had been thinking about for some time. The concept became known as <em>Laplace's demon</em> and was a thought experiment which sought to clearly explain the existence of uncertainty. It is described in his <em>Essai Philosophique sur les Probabilités</em> (1814) as:
</p><p><a href="https://plus.maths.org/content/misinterpretation-risk-metrics" target="_blank">read more</a></p>https://plus.maths.org/content/misinterpretation-risk-metrics#commentsconfidence intervalearthquakesinsurancemathematical modellingprobabilityriskrisk analysisstatisticsThu, 23 Dec 2010 14:36:31 +0000mf3445360 at https://plus.maths.org/contentModelling catastrophes
https://plus.maths.org/content/modelling-catastrophes
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Shane Latchman </div>
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Hardly six months go by without a natural disaster striking some part of the globe. While it's next to impossible to predict these catastrophes, let alone prevent them, mathematical modelling gives a way to prepare for their impact. <b>Shane Latchman</b> explains. </div>
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<div class="pub_date">December 2009</div>
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<p>Pictures from Onna town destroyed during the L'Aquila (Abruzzo) earthquake in Italy, April 2009.</p><p><a href="https://plus.maths.org/content/modelling-catastrophes" target="_blank">read more</a></p>https://plus.maths.org/content/modelling-catastrophes#comments53earthquakesinsurancemathematical modellingrisk analysisstatisticsTue, 01 Dec 2009 00:00:00 +0000plusadmin2373 at https://plus.maths.org/contentCareer interview: Actuarial researcher
https://plus.maths.org/content/career-interview-actuarial-researcher
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Helen Joyce </div>
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<div class="pub_date">May 2005</div>
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<p>Shane Whelan began his academic career at a Christian Brothers School in Dublin, where he discovered a great love of the sciences, and, in particular, physics. After taking his Leaving Certificate (A level equivalent) in 1981, he was accepted into the mathematical sciences course at <a href="http://www.ucd.ie">University College Dublin</a> (UCD).<p><a href="https://plus.maths.org/content/career-interview-actuarial-researcher" target="_blank">read more</a></p>https://plus.maths.org/content/career-interview-actuarial-researcher#comments35Business & Moneycareer interviewfund managementinsurancepensionstatisticsstock marketSat, 30 Apr 2005 23:00:00 +0000plusadmin2422 at https://plus.maths.org/contentThe crystal ball
https://plus.maths.org/content/crystal-ball
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Helen Joyce </div>
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If you had a crystal ball that allowed you to see your future, what would you arrange differently about your finances? <i>Plus</i> talks to the Government Actuary, Chris Daykin about the <b>pensions crisis</b>, and how actuaries use statistical and modelling techniques to plan for all our futures. </div>
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<div class="pub_date">May 2003</div>
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<blockquote><i>If I had my way, I would write the word "insure" upon the door of every cottage and upon the blotting book of every public man, because I am convinced, for sacrifices so small, families and estates can be protected against catastrophes which would otherwise smash them up forever.</i>
<p><i>It is the duty to arrest the ghastly waste, not merely of human happiness, but national health and strength, which follows when, through the death of the breadwinner, the frail boat in which the family are embarked<p><a href="https://plus.maths.org/content/crystal-ball" target="_blank">read more</a></p>https://plus.maths.org/content/crystal-ball#comments25actuarial mathematicsforecastinginsuranceLife insurancemathematical modellingmathematics in the mediamultistate modellingpensionstatistical predictionstochastic processWed, 30 Apr 2003 23:00:00 +0000plusadmin2224 at https://plus.maths.org/contentMathematical mysteries: The gentlemen from Basle and the Petersburg Paradox
https://plus.maths.org/content/mathematical-mysteries-gentlemen-basle-and-petersburg-paradox
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George Szpiro </div>
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<p>Just over 220 years have passed since the death of one of the most distinguished mathematicians in history: Daniel Bernoulli, who died on March 17th, 1782. The name of Bernoulli asks for precision since the family from Basle produced no fewer than eight outstanding mathematicians within three generations.</p>
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<div class="pub_date">November 2002</div>
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<h2>The difficult Bernoulli family</h2>
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<p>Daniel Bernoulli</p><p><a href="https://plus.maths.org/content/mathematical-mysteries-gentlemen-basle-and-petersburg-paradox" target="_blank">read more</a></p>https://plus.maths.org/content/mathematical-mysteries-gentlemen-basle-and-petersburg-paradox#comments22bernoullicoin gamesexpected prizeinsuranceMathematical mysteriesst. petersburg paradoxutility functionFri, 01 Nov 2002 00:00:00 +0000plusadmin4759 at https://plus.maths.org/contentCareer interview - Actuarial Student
https://plus.maths.org/content/career-interview-actuarial-student
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<div class="pub_date">January 1998</div>
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<p>Scott is a Maths graduate and works as an Actuary with Watson Wyatt in Reigate, Surrey. <!-- FILE: include/centrefig.html --></p>
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<p>Scott Eason</p>
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<h2>Career Life</h2>
<p>He joined the firm in September 1995 and is very happy there. "I've always enjoyed Maths and wanted a career in finance, so this is a good way of combining the two."</p><p><a href="https://plus.maths.org/content/career-interview-actuarial-student" target="_blank">read more</a></p>https://plus.maths.org/content/career-interview-actuarial-student#comments4actuarial mathematicscareer interviewinsurancestatisticsThu, 01 Jan 1998 00:00:00 +0000plusadmin2428 at https://plus.maths.org/content