It is common practice in most insurance lines for the coverage to be restricted by a deductible. In the paper we investigate the influence of deductibles on pure risk premiums. We derive simple but practical formulae for premiums under franchise, fix amount, proportional, limited proportional...

In the article we consider accumulated values of annuities-certain with yearly payments with independent random interest rates. We focus on general annuities with payments varying in arithmetic and geometric progression which are important basic varying annuities (see Kellison, 1991). They are...

Using dynamic programming techniques the optimal exercise time for American warrants on WIG20 futures is found.

This Ph.D. thesis is concerned with self-similar processes. In Chapter 2 we describe the classes of transformations leading from self-similar to stationary processes, and conversely. The relationship is used in Chapter 3 to characterize stable symmetric self-similar processes via their minimal...

We discuss the origins and the possible reasons for the sudden death of the VOLAX contract.