Burnecki, Krzysztof; Kukla, Grzegorz; Weron, Rafal - Hugo Steinhaus Center for Stochastic Methods, … - 2000
Property Claim Services (PCS) provides indices for losses resulting from catastrophic events in the US. In this paper we study these indices and take a closer look at distributions underlying insurance claims. Surprisingly, the lognormal distribution seems to give a better fit than the Paretian...