This article presents a semi-Markov process based approach to optimally select a portfolio consisting of credit risky bonds. The criteria to optimize the credit portfolio is based on lÉ-norm risk measure and the proposed optimization model is formulated as a linear programming problem. The...

In Pay-As-You-Drive (PAYD) automobile insurance, the premium is fixed based on the distance traveled, while in usage-based insurance (UBI) the driving patterns of the policyholder are also considered. In those schemes, drivers who drive more pay a higher premium compared to those with the same...

Pay-as-you-drive (PAYD), or usage-based automobile insurance (UBI), is a policy agreement tied to vehicle usage. In this paper we analyze the effect of the distance traveled on the risk of accidents among young drivers with a PAYD policy. We use regression models for survival data to estimate...