The book contains important material on topics that are relevant for recent insurance and actuarial developments including determining solvency measures, fair-value computations, reserving, ranking of risks, modelling dependencies and the use of generalized linear models. Numerous exercises and the hints for solving them make the book useful as a textbook. Practical paradigms in insurance are presented in a way that is appealing to actuaries in their daily business.

Utility theory and insurance.- The individual risk model.- Collective risk models.- Ruin theory.- Premium principles.- Bonus-malus systems.- Credibility theory.- Generalized linear models.- IBNR techniques.- Ordering of risks.