COMPUTER SYSTEM AND METHOD FOR DETERMINING AN INSURANCE RATE
2 Assignments
0 Petitions
Accused Products
Abstract
In a computer system and computer implemented method for determining an insurance rate for terrorism-related property insurance, one or more industry classification attributes, indicative of an industry segment associated with the property, are selected. A basic rate is determined from rate values assigned to the selected industry classification attributes. One or more target classification attributes, indicative of the property'"'"'s attractiveness as a target for terrorism, are also selected. An aggravating rate is determined from rate values assigned to the selected target classification attributes. The insurance rate is determined from the basic rate and the aggravating rate. The assignment of insurance rates to a property based on the selection of target classification attributes for the property makes it possible to include the risk of a terrorist attack in the rating process, without having to determine probability distributions of terrorist attacks or estimate expected loss caused by terrorist attacks.
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Citations
43 Claims
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1-22. -22. (canceled)
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23. A computer system for determining an insurance rate for terrorism-related property insurance, the system comprising:
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means for selecting one or more industry classification attributes, indicative of an industry segment associated with the property; means for determining a basic rate from rate values assigned to the industry classification attributes; means for selecting one or more target classification attributes, indicative of the property'"'"'s attractiveness as a target for terrorism; means for determining an aggravating rate from rate values assigned to the target classification attributes; and means for determining the insurance rate from the basic rate and the aggravating rate. - View Dependent Claims (24, 25, 26, 27, 28, 29)
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30. A computer implemented method for determining an insurance rate for terrorism-related property insurance, the method comprising:
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selecting one or more industry classification attributes, indicative of an industry segment associated with the property; determining a basic rate from rate values assigned to the industry classification attributes; selecting one or more target classification attributes, indicative of the property'"'"'s attractiveness as a target for terrorism; determining an aggravating rate from rate values assigned to the target classification attributes; and determining the insurance rate from the basic rate and the aggravating rate. - View Dependent Claims (31, 32, 33, 34, 35, 36)
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37. A computer program product including a computer readable medium containing therein computer program code means for controlling a computer such that the computer:
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selects one or more industry classification attributes, indicative of an industry segment associated with a property; determines a basic rate from rate values assigned to the industry classification attributes; selects one or more target classification attributes, indicative of the property'"'"'s attractiveness as a target for terrorism; determines an aggravating rate from rate values assigned to the target classification attributes; and determines an insurance rate for terrorism-related insurance for the property from the basic rate and the aggravating rate. - View Dependent Claims (38, 39, 40, 41, 42, 43)
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Specification