Among many risk assessment techniques, qualitative, semi-quantitative or quantitative, risk matrix is a common tool to assess risk by allocating frequency and consequence of an accident to one of the pre divided frequency and consequence categories. However, since there is no standardized way to...

Constructing an accurate model for insurance losses is a challenging task. Researchers have developed various methods to model insurance losses, such as composite models. Composite models combine two distributions: one for part of the data with small and high frequencies and the other for large...

In this article, we study stochastic orders over an interval. Mainly, we focus on orders related to the Laplace transform. The results are then applied to obtain a bound for heavy-tailed distributions and are illustrated by some examples. We also indicate how these ordering relationships can be...