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Method, computer program product, and system for calculating a premium for stop loss insurance for a fleet of vehicles

  • US 20050137914A1
  • Filed: 12/07/2004
  • Published: 06/23/2005
  • Est. Priority Date: 12/23/2003
  • Status: Abandoned Application
First Claim
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1. A computer-implemented method for calculating a premium for stop loss insurance for a fleet of vehicles, the method including:

  • determining an expected total loss for the fleet of vehicles;

    storing in a computer a maximum individual loss equivalent to a cost of a most expensive vehicle of the fleet;

    calculating by the computer a loss frequency by dividing the expected total loss by the maximum individual loss;

    storing in the computer a deductible payable by an insurance holder; and

    calculating by the computer the premium based on the loss frequency, the maximum individual loss, and the deductible as a stop loss premium for an assumed loss distribution having only losses with a value of one of zero and maximum individual loss.

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