damage credibility - definitie. Wat is damage credibility
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Wat (wie) is damage credibility - definitie

Actuarial credibility; Credibility Theory

Damage waiver         
ALSO CALLED CDW
Collision damage waiver; Loss damage waiver
Damage waiver or, as it is often referred to, collision damage waiver (CDW) or loss damage waiver (LDW) is optional damage insurance coverage that is available to you when you rent a car.
Damage tolerance         
ABILITY OF A STRUCTURE TO SAFELY WITHSTAND DEFECTS
Damage Tolerance
In engineering, damage tolerance is a property of a structure relating to its ability to sustain defects safely until repair can be effected. The approach to engineering design to account for damage tolerance is based on the assumption that flaws can exist in any structure and such flaws propagate with usage.
Property damage         
NATURAL OR INTENTIONAL DAMAGE OR DESTRUCTION OF PUBLIC OR PRIVATE PROPERTY
Criminal damage; Destruction of property; Property destruction; Property loss; Malicious damage; Damage to property
Property damage (sometimes called property destruction, damage to property, or cf. criminal damage in England and Wales) is damage or destruction of real or tangible personal property, caused by negligence, willful destruction, or act of nature.

Wikipedia

Credibility theory

Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. It is employed to combine multiple estimates into a summary estimate that takes into account information on the accuracy of the initial estimates. For example, in group health insurance an insurer is interested in calculating the risk premium, R P {\displaystyle RP} , (i.e. the theoretical expected claims amount) for a particular employer in the coming year. The insurer will likely have an estimate of historical overall claims experience, x {\displaystyle x} , as well as a more specific estimate for the employer in question, y {\displaystyle y} . Assigning a credibility factor, z {\displaystyle z} , to the overall claims experience (and the reciprocal to employer experience) allows the insurer to get a more accurate estimate of the risk premium in the following manner:

The credibility factor is derived by calculating the maximum likelihood estimate which would minimise the error of estimate. Assuming the variance of x {\displaystyle x} and y {\displaystyle y} are known quantities taking on the values u {\displaystyle u} and v {\displaystyle v} respectively, it can be shown that z {\displaystyle z} should be equal to:

Therefore, the more uncertainty the estimate has, the lower is its credibility.