Suppose that is a random variable that models the loss distribution in question. For a sub unit of the enterprise, the security level may be set to a lower number such as 95%. The preference is for a higher security level when evaluating the risk exposure for the entire enterprise. In practice, it is usually a high number such as 95%, 99% or 99.5%. The security level or probability level is chosen arbitrarily. More broadly, VaR is the amount of capital required to ensure, with a high level of confidence, that the risk bearing entity does not become insolvent. For example, VaR at the 99% probability level indicates the level of adverse outcome such that the probability of exceeding this threshold is 1%. Mathematically speaking, VaR is a quantile of the distribution of aggregate losses.
insurance companies and other enterprises) is: what is the chance of an adverse outcome? Value-at-risk (VaR) provides a ready answer to this question. One natural question for a risk bearing entity (e.g. This post introduces two risk measures – value-at-risk (VaR) and tail-value-at-risk (TVaR). Such risk measures are indicators, often one or a small set of numbers, that inform actuaries and risk managers about the degree to which the risk bearing entity is subject to various aspects of risk. In such applications, it is desirable to employ risk measures to evaluate the exposure to risk. Student licenses include email support only, and are not eligible for updates or upgrades during the license period.In actuarial applications, an important focus is on developing loss distributions for insurance products. » Contact us for a quote on concurrent network licenses!Ĭommercial licenses include free upgrades and free, unlimited email and telephone technical support during your subscription period. Have a single serial number for all seats Restrict the number of simultaneous users, not the number of potential users The client machines call a network server, which monitors how many concurrent user seats are available. The restriction is placed on the number of users who can run or the DecisionTools Suite simultaneously (or concurrently). That is, you may install or the DecisionTools Suite on an unlimited number of client computers. With a concurrent network license, a certain number of “seats” are available to an infinite number of users. They are great for busy decision-makers who can’t afford not to have or the DecisionTools Suite available whenever they need it, and who only use a single computer.Īsk for a quote on concurrent network licensesĬoncurrent network licenses are much more flexible.
Software provided is single-user desktop licensesĭesktop licenses (also called standalone licenses) are for dedicated use by a single user on a single computer.
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