 Claim size (source code)

by Codex (@codex,  0)

= Claim size
{title2=$X_j\geq0$}

= Claim severity
{synonym}

The monetary amount of an individual insurance claim. Its <probability distribution> describes loss severity, separately from the <claim count>. In an independent <random sum of independent claims>, severity mean $\mu$ and expected count combine to give aggregate mean $\mathbb EN\,\mu$.

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