Book Description

This consumer-oriented textbook addresses the principles of risk management without skimping on the discussion of insurance. It summarizes the nature of pure risk on the individual and on society and illustrates how insurance can be used to deal with the problems posed by such risk. Mirroring the diverse experience of its authors, the text is equally effective in presenting the principles of insurance theory and offering how-to advice to students. Throughout, the main emphasis is on the insurance product and the use of insurance within the risk management framework. The traditional fields of life insurance, health insurance, property and liability insurance, and social insurance are treated in terms of their relationship to the wide range of insurable risks to which the individual and the business firm are exposed. ... Read more

Reviews (2)

Fundamentals of Risk and Insurance
Updated to reflect changes in the field since 1999, this volume provides a comprehensive introduction to the field of insurance, with a consumer emphasis on the insurance product.

How Do I Write a Review about an Insurance Book?
Well, I guess I can try to review this book from the only perspective I read it from: that of a student. I had to read it for my CFP class on Insurance, and, as an introduction to most forms of insurance, it explains the forms in a very methodical and systematic way; it was very easy to follow and tough to get completely lost.

Honestly, I was never really fascinated with insurance. My life-licensing class was 24 hours of classroom time spread out over one weekend, so maybe that has created some insurance-related intellectual scars. The sections on Life Insurance and the basic components of any insurance contract and the whole insurance process were already familiar to me, so I found those sections incredibly uninteresting. The other forms of insurance were much more interesting and gave me a great foundation for other insurance studies I've done since.

The prose of the book, too, flows extremely well. In fact, I usually just lightly read passages explaining computations and formulas because I come back later to review them in-depth; however, while reading this book, I actually felt I fully understood most of the computations even while I read (which almost never happens because most formula-explaining reads much like Kant's "Metaphysics of Morals").

Just one closing point... I guess you'd have to be either Insurance Commissioner or a professor of insurance to be really interested in this material, but the authors write in a way that allows even the average CFP or insurance student to come away from the book with a good sense of how insurance works and where it fits into an individual's financial plan. ... Read more

Book Description

This current, accurate and detailed industry guide for financial service professionals examines life and health insurance simultaneously from the viewpoints of the buyer, the advisor, and the insurer—providing a comprehensive and unbiased treatise on individual and group life; a forthright appraisal of life and health insurance industry products with careful consideration of the environment; and a complete examination of life insurance company operations and regulation. Bases financial treatment of life insured operations on modern financial theory, and devotes entire chapters to the economics of life and health insurance; individual life and health insurance policies; life and health insurance evaluation; the uses of life and health insurance in personal and business planning; government and employee benefit plans; and the management, operation, and regulation of life insurance companies. Offers a strong global orientation, supporting fundamental concepts with an extensive integration of economic and financial theory and international comparisons, and examines how today's health insurance products fit into a broad framework from a contractual, cost, and performance viewpoints. New chapters on the tax treatment of life and health insurance address such areas as estate planning, retirement planning, and the business uses of life and health insurance. For financial planners, salesmen, actuaries, investment managers, attorneys, CPAs, and other financial service professionals.

Reviews (3)

Life and Health Insurance (13th Edition)
New edition of a venerable classic textbook first published in 1915

Comprehensive and concise
This is an excellent reference book for anybody in the life insurance business, whether you are a novice or an old hand. Comprehensive, easy to understand, and concisely written.

an excellent reference book
This book is an excellent reference book. Just by looking at its Edition Number -- 13, you will know how important this book is in the industry. ... Read more

Book Description

Understanding Health Insurance: A Guide to Professional Billing, 7th edition, is a comprehensive guide for those learning about health insurance claims processing and reimbursement issues. The text utilizes a step-by-step approach to successful completion of health insurance claims. The objectives of this edition are to 1) introduce information about major third party payers, 2) provide up-to-date information about federal health care regulations, 3) clarify coding guidelines and provide application exercises for each coding system, 4) introduce reimbursement issues, 5) emphasize the importance of coding for medical necessity, and 6) help users develop the skill to complete claims accurately. Numerous examples help clarify key concepts. Case studies and review exercises provide users with numerous opportunities to apply knowledge and develop skills in completing CMS-1500 claims accurately. The textbook CD-ROM and accompanying workbook provide additional exercises and practice in completing CMS-1500 claims electronically. Current information is provided on CPT-5 and ICD-10-CM coding systems. The appendices include information about processing UB-92 (CMS-1450) claims and dental claims. ... Read more

Reviews (9)

Very misleading
I purchased this book with the accompanying workbook. Although it may contain good information, the answers are not provided to the exercises--in either the book or workbook. Apparently, a separate instructor's manual needs to be purchased. When spending [the money] for both books, I didn't even think that answers would not be provided, much less that I'd have to spend [more money] to get them. I'd recommend the book, workbook, and instructor's manual, unless you're taking a class that allows you to check to make sure you understand the concepts.

I'm not sure why I don't have voting buttons--I read every review here before I submitted mine.

Good book
If your going to Fairleigh Dickinson University and your taking up Medical Administration you will need this book

A must have for understanding billing
extensive illustrations and diagrams. the book explains exactly what is needed to understand the billing procedure.

It's Great!
This book explains a great deal about medical billing. It is written in an easy-to-read style, and organizes the information in logical steps.

LEARN HEALTH PROVIDER CODING
This text, workbook, and instructor's manual - which has the answers :-) - are very well put together, easy to follow and thoroughly cover the usual procedures of coding and touch on many hard-to-code ones. I found the history section informative and much as I wanted to get to the coding work,very thorough and very interesting. There are many questions throughout the lessons that very are well thought out and follow the text extremely well and reinforce what you have just read. This set of instructional manuals will really help you learn this subject. ... Read more

Amazon.com

With the stock market breaking records almost daily, leaving longtime market analysts shaking their heads and revising their forecasts, a study of the concept of risk seems quite timely. Peter Bernstein has written a comprehensive history of man's efforts to understand risk and probability, beginning with early gamblers in ancient Greece, continuing through the 17th-century French mathematicians Pascal and Fermat and up to modern chaos theory. Along the way he demonstrates that understanding risk underlies everything from game theory to bridge-building to winemaking. ... Read more

Reviews (111)

No Risk here, The Odds areYou'll love it.
i'm very much a novice in the study of risk and probabilities; however, I've been lucky enough to come across some excellent business oriented books - but in actuality and thankfully far more philosophical than financial - (Fooled by Randomness for instance) lately that have done a masterful job of presenting this seemingly dry subject in a very fascinating way. Bernstein has probably written the quintessential historical study on Risk and Probability with this volume. It is filled with interesting details of the human qualities and quirks of the mathematicians and philosophers that investigated the problems of probablity and explains the mathematics involved with lucidity and wit. The book follows a chronological approach; however, it's also thematic to show the evolution of the subject of risk management and the influence of other sciences on it - such as evolution. Those that refuse to accept the idea that markets remain unpredictable despite the development of modern risk control mechanisms like derivatives, computer modelling, and modern financial instruments will find this book frustrating. Those who want a wquick fix investment solutions guide will be even angrier and will nort find anything useful here. This book belongs in the philosophy of science and History of Ideas sections far more than the business dept. Nonetheless, the serious and thoughtful investor is advised to read this book carefully. as someone who's lost in the stock markets himself the Bernstein's book can reduce the sting of the loss and impart some well needed wisdom. I no longer invest but I loved this book all the same.

Long on history, but short on risk management strategy
The title of my review is aimed at warning those expecting to find a risk management manual in this book that they will be disappointed. So will those who expect to find the links between the evolution modern statistics and acturial science to the rise of insurance markets and risk management instruments which have proliferated in this century. Many other books quite ably cover these interesting topics.

Instead, the author provides a broad sweeping history of how modern statistics evolved and which answers some questions of why it took so long for modern risk management institutions to emerge. Ancient Greeks, among others, who appeared to be within easy reach of developing statisical theory, nonetheless relegated their fate to the whims of gods, rather than making them amenable to analysis with probabilities and actuarial tables. Tracing modern risk management from the time of Jacob Bernoulli's attempt to develop probabilities from sample data, the author also shows how a knowledge of probabilities can ultimately generate value. QUOTE Reality is a series of conneceted events, each dependent on another, radically diffeent form games of chance in which the outcome of any single throw has zero influence on the outcome of the next throw UNQUOTE The book closes with risk management innovations that followed the emergence of financial volatlity in the 1970s.

Ultimately, this book may be of less interest to statisticians and investment professionals, other than those who have a curious interest in how today's highly developed set of instruments, institutions, and policies around risk came about from the foundations provided in statistical theory.

History Buffs: Here you go!
Against the Gods draws you through a vast time span. Peter Bernstein begins with the conception of the Arabic numbeting system, up through present time super speed computers. Although, the history found in this book is interesting, the title leads you to believe it is all about investment risks, however it is more of a history text book than a manual. This book is a story of theories and how they developed. You will learn quite a bit about ancient times and how things evolved into the way that they are now, but do not expect any great help or advice on how to deal with risks in the investment world. Once you get into this book, Bernstein's writing sytle draws you in. The book is interesting enough, Bernstein's knowledge of hisotry is astounding. History Buffs: here ya go!

Good outline of the history of risk
"Against the Gods" is a book outlining the history of risk. The book provides an outline of all the key players and their contribution to risk theory and management. Chronologically, the book begins in ancient times and stretches all the way to the present, where Bernstein delves into the works of modern day risk luminaries. The book is well written and the style is engaging, with the author always managing to find a way to keep the reader entertained as well as informed.

The book does not pretend to be a "how to" guide for risk management, nor should readers treat it as such. Although the book does discuss modern risk management tools such as derivatives, it is devoid of complex technical analysis and its treatment of such devices is limited to outlining their place in the history of risk. Those looking for technical trading analysis should seek elsewhere.

One of the key questions a potential reader of this book should be asking is "Does this book have any practical applications with regards to modern day risk management?" Whilst as mentioned above the book is not a step by step guide, I firmly believe the book is useful insofar as it enables the reader to avoid the pitfalls of the past. For example, capital markets are continually surprising those who hold an unwavering belief in "regression to the mean". The books provides an explanation of what this theory states, how it has been applied and where overzealous disciples have misused this principle in the past. Overall I would recommend this book as an informative and enjoyable read.

Neutral Recommendation - Do Not Buy - Maybe Borrow
I am going to give you a short review and to the point.

I read this book because it was recommended on "Money Talk" the national radio show on every weekend for 6 hours on investing - Bob Brinker hosting. He is an excellent market timer and gives solid advice. Follow his (diversified investment) advice and you will make lots of money and unlike mutual funds do better than the S&P 500 with low expense ratios.

He had a recommended reading list and he named this book. The book is a disappointment. It is light weight stuff. Only part is on the markets. Frankly I cannot recommend the book.

The point of the book is that the market carries risk. Most people know that and never put more than 4% in one stock. Even Bill Gates knows that and has quietly converted some of his Microsoft stock into other areas. So skip the book and just invest in government backed instruments or follow the golden rule, no more than 4% in one stock.

Jack in Toronto ... Read more

Book Description

This book focuses on problem-solving from managerial, consumer, and societal perspectives. It emphasizes both the business managerial aspects of risk management and insurance and the numerous consumer applications of the concept of risk management and insurance transaction.Specific chapter topics include insurance Regulation and contracts, basic property and liability insurance contracts, homeowners insurance, the personal auto policy, professional financial planning, life insurance policies, annuities, medical expense and disability insurance, standard life insurance contract provisions and options, commercial property insurance, general and special liability insurance, employee benefits, social security, and unemployment and workers' compensation insurance.For use by individuals in insurance occupations, and by those preparing for the certified financial planner board. ... Read more

Reviews (2)

Fresh Ideas on Sales
After reading The Wedge, and applying its principles to my sales presentations, I landed a rather large account that I know a competitor was also avidly pursuing. That alone makes the investment in this book worthwhile.
The Wedge focuses on taking business from your competition, by positioning yourself in a manner that distinguishes your business from your competitior. It is one of the first sales books that I ever read that focuses almost exclusively on the concept of taking business away from your competitors, as opposed to developing sales from independent leads. Given that almost every marketplace is static, with only so many entities available to buy your (or your competition's) product, thinking about and successfully executing methods that get your product before buyers who work with, or may be tempted by a competing product, not only makes sense, but is very wise sales strategy. And I can say - IT WORKS!

The Best of The Best of Insurance Sales
Books on sales are a dime a dozen. Some have a focus on a specific market while others are as general as water. If your intention is to break into the broker market or just expand your market share in Insurance, Then This Book Is For You! The book is short, precise and powerful. If you think the price is a little high for a sales book, then you do not deserve this one.
For those with the vision, the intent, and boldness, this book will increase your sales to match your goals. Good Reading. ... Read more

Book Description

This proven, market-leading book provides a thorough, current introduction to risk management and insurance. It assists the reader in identifying, analyzing, and managing risk through insurance and alternative tools/techniques such as loss control, risk retention, and risk transfer. This edition presents an even stronger focus on managing risk and covers insurance within this context. Concepts of risk management are presented as they apply to business and personal situations as well as international situations. ... Read more

Book Description

Are you working too many hours for too few clients?Does it seem that you do more paperwork than peoplework?Will you spend more hours on the road than in front of people this year?

Whether your agency is big or small, if you answered yes to any of those quesitons, you need more than an andrenaline boost!You need a shot of strategies to wake things up and put you on the path to success fast.

How to get appointments with 10 clients every day

How to find qualified clients and get them to come to you

How to get clients in and out of your office in 30 minutes-or less

You'll also discover how to ramp up for success with something you already have, but probably overlook, why some clients don't make sense for your agency, and what you need for an effective sales pitch.

Get the help you need by putting Troy Korsgaden on your side.His strategies have made a difference for the thousands of agents who have attended his seminars across the country.They can make a difference fo you, too. ... Read more

Reviews (5)

Hands-on power tips
I was fortunate enough to attend a seminar where Troy Korsgaden was one of the presenters. This book is a direct take on the presentation he made. He makes a very compelling case for how to grow your agency. I know it isn't what some of us want to hear. Who wants to bother with hiring other people? What the author says is that if you want to grow your agency, you must duplicate yourself by training others to perform most, if not all, duties that don't involve direct selling. And guess what? Sometimes even that function can be handled by your staff.

Troy Korsgaden's one-man agency managed 1,500 policies after all of nine years in business. With his current setup - including eleven employees - has a growth rate of 750 policies a year. I know, that isn't the goal of some of us in this business. However, his message is that if you really want to grow, there are no shortcuts. Hiring staff is not optional, it is absolutely necessary. Great book. Easy to read and to the point.

Read this book
This book was given to me by a friend when I started my business. It was a godsend! It showed me how to streamline and make my company more effective. It was this book, along with Guerrilla PR Wired, that made me a success.

Really A Great Booster!
Power Position Your Agency is loaded with fantastic tips and ideas! It's definitely helped me, and I'm constantly going back to it. My only caveat is that it's a bit weak on the whole public relations side, especially when the rest is so useful. For the pr stuff, I found Michael Levine's Guerilla PR: Wired to make up for it. I'm really confident that these two books will lead to my company's being in an excellent position!

Step by Step Instructions to Grow Any Agency
I've been in the insurance business for over 15 years. Why oh Why didn't I have this book when I started? The Best instruction book on how to grow Any size agency I've ever read. Troy's been on our side of the desk, had our struggles, same line from upper management, etc. Very good insight PLUS all the scripts one needs to put his program in place in My office! Amazing. The "E-Myth" for the Personal Lines insurance agent. Whether you are brand new or a "Vet" you will take many things out of this book that you can implement immediately and make more money.

A complete manual on how to operate a successful agency.
I've been an insurance agent for 27 years. I subscribe to several insurance trade magazines, and have read dozens of books about insurance sales and have attended hundreds of seminars. I didn't expect to learn much new or useful. But, I'm always looking for a nugget that I might be able to use.

With this book I found more than a nugget. I found a manual on how to operate a successful insurance agency. Any single chapter in this book is worth the price. I will refer to it constantly. ... Read more

Book Description

This course surveys property and casualty insurance principles and concepts common to all state producer licensing exams, giving students the relevant information they need to help pass the exam on the first try.The text is intended as a comprehensive introduction to property and casualty insurance. Topics include industry regulation, underwriting, property insurance, personal lines, commercial lines, inland marine, commercial floaters and federal programs, crime insurance and bonds, and workers compensation.The text features interactive learning aids that enhance the user’s understanding of key concepts and improve retention. Hundreds of questions with rationales and a final exam are also included within the text. ... Read more

Book Description

Insurance For Dummies introduces readers to the basics — as well as the more complicated issues — of every kind of insurance. Packed with expert advice and step-by-step guidance, it shows you how to find the right amount of protection at the best possible price, for your life, health, car, home, and anything else you can think of.

Thinking about insurance makes many people cringe with fear; this handy guide makes insurance make sense. It demystifies complicated policies and points out all the traps and pitfalls you need to avoid when buying coverage. Whether you’re a homeowner or a small business owner or you just need a basic policy for your car, you’ll find all the advice you need on:

• Managing your risk
• Reducing your liability
• Insuring a home business
• Buying an umbrella policy
• Dealing with insurers and filing claims
• Assessing your life insurance needs
• Decidin g between group and individual policies

Author Jack Hungelmann uses his twenty-five years of experience in the insurance industry to make buying insurance as simple as possible — even for those who’ve never bought a policy in their lives. Armed with the kind of straightforward, commonsense knowledge and advice you’ll find here, you’ll be able to handle any insurance question that comes up. Keep it on your reference shelf for quick-and-easy answers for all your insurance-related questions:

• Everything you should know about auto insurance
• Choosing cost-effective deductibles
• Picking the right property coverage for your home
• Estimating the value of your assets
• Insuring valuable portable items and collectibles
• Special advice on insuring condos and townhouses
• Getting the most coverage at the best price
• Filing claims and getting back the most
• Plus, online insurance resources

Reviews (7)

Invaluable resource and reference
This title is well worth searching out if you're thinking of purchasing new coverage or if it's been a long time since you've reviewed your current coverage. There's a lot more to insurance than most realize, and this book can help make things a lot clearer, save you money, and prevent nasty surprises down the road. Note that the edition available in Canada, of which I own a copy, appears to be identical to the American one in all respects.

Insurance for Dummies
I have been in the insurance business for 31 years. I found this book to be every helpful. Jack has taken a complex subucet ( insurance ) and explains it in simple terms. I have shared this book with other professionals and they are as delighted as I am. I now use some those examples in my own practice to explain things to my clients. It is worth the time to reading. .

Great book, very imformative.
I bought this book because I was sick of just signing my insurance contracts. The author explained clearly the different types of insurance and made recommendations you can follow to save you time and money. This book was well worth the price since I have saved so much in insurance. This is also a must have for those of us that own rental properties.

Great resource!
This is a must have for young families, professionals, and really everyone who has their own residence. Through this book I found out my "sueability" and really restructured my entire insurance plan. Most people won't believe how grossly underinsured they are!

This author actually make insurance interesting!!!
I didn't think it was possible, but Jack Hungelmann made reading about insurance actually interesting. I cannot tell you how much money and time I have saved just by taking a few minutes here and there to look up specific topics in this book. It is really well-written, covers an incredible broad range of topics, and has a lot of funny and real-life stories which capture the topics. I will also continue to find it very helpful as a reference to refer to as new insurance issues come up. Trust me, this is the insurance book to buy and trust! ... Read more

Book Description

In keeping with technology's shift toward qualifying rather than quantifying risks, Risk Management: Concepts and Guidance, second edition has 13 new risk techniques and describes significant changes in the ways risk tools are applied. Focusing on a systematic approach to risk management, the book includes 29 chapters that highlight specific techniques to enhance organizational risk identification, assessment and management, all within the project and program environments. ... Read more

Reviews (2)

A great blueprint for risk assessment and mitigation
When I began my Project Management Professional certification through George Washington University and Motorola several years ago, one of the first courses I took was one dealing with project risk analysis and response. The text for the class was Risk Management: Concepts and Guidance, by Carl Pritchard, and has served as a blueprint for assessing and mitigating risk in many projects for which I was responsible.

Pritchard's emphasis is not on designing assessments and mitigation strategies for all circumstances, but on building useful information that can be applied toward a particular project situation. This book has a natural alignment with the principles and concepts of <>, produced by the Project Management Institute's (PMI) Standards Committee. While the PMI identifies four phases of risk management, Pritchard adds a fifth phase upfront, called risk planning.

The book is divided into two major sections: Section 1 addresses risk processes and practices; Section 2 is concerned with specific risk management techniques. The four appendixes contain information on contractor risk management, list of risk sources, basic probability concepts, quantifying expert judgment, and special notes on software risk. The book concludes with a glossary of terms, bibliography, and index.

Of particular value in the book are the 50+ figures and tables that illustrate some of the more complex statistical/probability models used in risk assessment and mitigation. Each chapter follows a template that structures the same type of information. For example, each chapter in Section 2 contains the following subheadings:Technique Description; When Applicable; Input and Output; Major Steps in Applying the Technique; Use of Results; Resource Requirements; Reliability; Selection Criteria; Output; Summary

The 218-page book (softcover)is an easy read and a highly useful desk reference for any project manager concerned about planning for and mitigating risk to projects. My dog-eared, heavily highlighted copy has served me well over the past 3 years.

Excellent resource!
I used this text as part of a Risk Management course, and I expect to use it in practice. It's an excellent resource for risk managment tools. Especially for quantifying financial risks. ... Read more

Book Description

This unique book is a guide for students and graduates of mathematics, statistics, economics, finance, and other number-based disciplines contemplating a career in actuarial science. Given the comprehensive range of the cases that are analyzed in the book, the Actuaries' Survival Guide can serve as a companion to existing study material for all courses designed to prepare students for actuarial examinations.

* Based on the curricula and examinations of the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS)
* Presents an overview of career options and details on employment in different industries
* Provides a link between theory and practice; helps readers gain the qualitative and quantitative skills and knowledge required to succeed in actuarial exams
* Includes insights from over 50 actuaries and actuarial students
* Written by Fred Szabo, who has directed the actuarial co-op program at Concordia University for over ten years ... Read more

Reviews (1)

Fred Szabo Doesn't Deserve To Be Called An Author
This book is useless. I bought it hoping to learn more about the actuarial profession. I returned it after the first "chapter." Basically the author asks a question and then obtains responses from 40 different people in the industry (students, professors, insurance companies, etc.) It is extremely boring and informative. This is nothing more then the results of a questionare give to a few hundred people. Szabo isn't an author, he's a data entry clerk. SKIP! ... Read more

Book Description

The book is a thorough treatment of the mathematical theory and practical applications of compound interest, or mathematics of finance. ... Read more

Reviews (14)

A bible to financial mathematical knowledge
Whoever masters this book will love and master any area of finance. However, readers must note that this is not a "light" book. It's rather academic and will require a good knowledge of calculus, statistics (for chapters beyond #9) and even stochastic process. If you are enrolling in an actuarial education program this is THE BOOK

Excellent book...
Kellison's book is an appraisal industry standard. and is highly recommended for use by others who want to know how interest rates are calculated. For students who need supplementary material, I would recommend a good mathematics of finance textbook such as the later editions by Cissell, et al. or Simpson, et al. both titled, amazingly, Mathematics of Finance. Another excellent book of a less academic nature is Carrington, The Book of Interest and Money. For those who would understand both the maths and the calculator keystrokes, try the best book ever written (opinionated, aren't I) on this subject: Greynolds, et al. Financial Analysis Using Calculators: Time Value of Money. This book was published in 1980 by McGraw-Hill, but hasn't been superceded, to my knowledge, by anything better. Also, a must read in connection with this subject is regulation Z of the Truth-in-Lending Act. Study these materials and you will never have the wool pulled over your eyes by your friendly local banker, real estate broker, car finance company, loan shark, or rent-to-own furniture dealer. In fact, you'll know much more than they do and will be able to catch their mistakes (and they make them).

Just Awful
I'm a third-year undergraduate who has loved and excelled at mathematics my whole life. We're talking mostly A's and some B's all through an honors high school program and through advanced multivariable calculus in college.

I've decided to pursue actuarial work, and this fall I enrolled in a course called "Theory Of Interest," which is the introductory course for this subject at my university. The sole textbook for this course was (surprise) Kellison's "Theory Of Interest."

For starters, let's make perfectly clear that the pure math involved here is easy as pie. Anyone at this level should be able to do it in their sleep before they've even cracked open the book; arithmetic, algebra, and a smidge of some very basic and easy calculus. So this subject is all about learning the definitions and procedures and applying them to problem solving.

That said, I have never, ever, EVER had anything close to this much trouble with a mathematics course in my life, simply because I could not understand this textbook. As a highly detailed and analytical person, I rely heavily on the textbook to learn any subject. I expect to be taught the subject in a clear, comprehensive, logically sequenced manner, free of ambiguity and clutter. I expect to be given challenging problems free of ambiguity and confusing language. I expect the preceding chapter to prepare me for those problems.

This is the biggest train wreck of a math book I have ever read. Ambiguities abound. He convolutedly waxes poetic on inconsequential "observations" for PAGES (you can sense him giving himself a huge pat on the back for his scholarly flights of fancy) while leaving you frustrated to tears trying to find and decode basic explanations and definitions. I'd say that at least 40% of the problems have MAJOR ambiguities that make them literally impossible to know what he's asking (a previous reviewer gave a good example). You have to guess what he's asking and proceed from there. The combination of poor, confusing discourse followed by ambiguous, confusing problems is a potent 1-2 punch that will seriously discourage even the best of students.

My college professor actually called this book, and I quote, "revolting." (Why does he continue to use it for his class? You'll have to ask him; I myself have no idea.) Bottom line, don't even think about trying to learn this subject from this textbook unless a college course requires you to do so. Find the Cissell (I tracked down a copy halfway through my course and it helped immensely) and/or the Actex guides instead and/or ANYTHING else you can get your hands on. There's simply got to be a better way to learn the subject than this.

So So
The book sells for astronomical price because SOA chooses it. It's simple and standard material and there's about half a million people in this country who qualifies to write. Unless somebody else pays for you, go for another book, or a simple study notes will do.

Not as helpful as other material
This text is not very helpful at all. I used it in my Interest Theory class and started to use it for Course 2 exam, but both times came out confused. Luckily, in school, I had a great professor who did not bother using it as a teaching tool, rather as a source for homework problems. He used his own material to actually teach us the concepts. As for studying for Course 2, you will do much better using one of the manuals, such as Actex or BPP.

Still, it does provide some good explanations of concepts, if you can just figure out what it's saying. A bit wordy at times.. :-) ... Read more

Book Description

The Encyclopedia of Trading Strategies is for traders who want to take the next step to consistently profitable trading. The authors--themselves seasoned veterans of the futures trading arena--pinpoint the trading methods and strategies that have been shown to produce market-beating returns. Their rigorous and systematic backtesting of each method, using the same sets of markets and analytic techniques, provides a scientific, system-based approach to system development...to help you assemble the trading system that will put you on the road to becoming a more consistently profitable trader. ... Read more

Reviews (17)

A Complete Insight Into Encyclopedia of Trading Strategies
The Encyclopedia Of Trading Strategies provides a solid foundation for developing the skills and knowledge base to develop one's own set of quantifiable trading rules and for developing a reliable trading "system."

The book begins laying the foundation with a description of the tools necessary to construct a system. Data -- the cleaner, naturally, the better -- is the point of departure. A discussion of simulators -- software that allows you to simulate trading -- ensues and walks you through the mechanics of interpreting output and determining their reliability and power.

A discussion of optimizers, or tools that find the best possible solutions to a problem follows, critically describing the major types of optimization and products available and how to achieve success, or failure, in their implementation.

Statistics for systems analysis are the next tool detailed. Without statistics, there is no way of knowing whether the profits (or losses) resulting from a tested system are real, an artifact of sampling or chance.

With the tools required for systems testing in place, the book launches into the discussion of its primary focus, the study of entries and exits. Ultimately, and deceptively simply, a trading system is nothing more than a system of entries and exits (at a profit or at a loss).

The Encyclopedia of Trading Strategies is something of a misnomer in that the title leaves the impression that one will find a catalogue of trading strategies and methods that the reader can scrutinize to extract specific techniques and use as a reference guide. In fact, the book provides the framework and background-knowledge necessary to design, test and analyze one's own trading system and could have as easily been dubbed A Primer On Developing Trading Systems.

One of the very best out there
This book is one of the best trading books ever published. It provides a very systematic and scientific approach of evaluating entry and exit techniques across a diversified futures portfolio. It presents by far the most rigorous and sound methodology of evaluating trading system robustness. The section on the use of statistical analysis to evaluate model validity is easily worth the price of the book.

The authors did an excellent job defining the correct way of optimizing system parameters. The part on exit techniques is also impressive. It contains a methodology on the development of exit strategies and presents many exit techniques.

Overall, the book is packed with a wealth of information. Every time I re-read a chapter I find a new gem. I strongly recommend this book to all mechanical system traders, especially those trading diversified commodity portfolios.

Great system trading book
Great book if you are interested in writing system code. Good backgound about ideas that may work and those that do not. The most valuable part of the book is the companion CD that is availabe. The software on the CD allows for testing of portfolio systems (something not really possible with most retail charting/trading software). Source code is fully revealed allowing for as much customization as one would like.

Interesting trading models and exit strategies
Mostly testing of trading models in C or C++. then testing of exit strategies. Well organized and easy to read, interesting even if you are not interested in optimizing.
Too much talk about slippage which he should point out that this is a problem for day traders that could be solved by automated trading platform and its not for everybody to worry about that much. Then talks also about gunning, as the name implies.

I am quite impressed ..
This is a great book if one wants to build a trading system starting from writing the code with a language such as C++. Especially given the fact that one can order the software from the author.

The book also examines some of the most common trading strategies. However, having reviewed other books on this topic and given the title describes the book as an 'Encyclopedia of Trading Strategies", it would be a useful book but not all-encompassing as one may hope.

Overall a useful book, particularly for programmers. As a book on trading strategies it does give some valuable insights but other books on the topic have to be reviewed as well.. ... Read more

Book Description

All property and casualty insurers are required to carry out loss reserving as a statutory accounting function. Thus, loss reserving is an essential sphere of activity, and one with its own specialized body of knowledge. While few books have been devoted to the topic, the amount of published research literature on loss reserving has almost doubled in size during the last fifteen years.

Greg Taylor's book aims to provide a comprehensive, state-of-the-art treatment of loss reserving that reflects contemporary research advances to date. Divided into two parts, the book covers both the conventional techniques widely used in practice, and more specialized loss reserving techniques employing stochastic models. Part I, Deterministic Models, covers very practical issues through the abundant use of numerical examples that fully develop the techniques under consideration. Part II, Stochastic Models, begins with a chapter that sets up the additional theoretical material needed to illustrate stochastic modeling. The remaining chapters in Part II are self-contained, and thus can be approached independently of each other. A special feature of the book is the use throughout of a single real life data set to illustrate the numerical examples and new techniques presented. The data set illustrates most of the difficult situations presented in actuarial practice. This book will meet the needs for a reference work as well as for a textbook on loss reserving. ... Read more

Reviews (2)

Talk in General terms
I did not find the book real helpful. It was to general and had many predictions but was sparce on good specific advice. My favorite book of this type is "Getting Clients, Keeping Clients."

Sincerely,
Thomas Cloud, Jr., ChFC

His vision of our industry is right on!
I have been in the life insurance business for 14 years and have worked in the agency system (as and agent and manager)for two of the largest mutual companies. I had been referred to this book by a friend of mine in the industry when I was disenchanted with direction of the agency system.

Mr. Sullivan's comprehension of the present agency system and the industry is only superceded by his vision of the direction of the future. He is right on!

So much so that I decided that it was time for me to move on and join a producer's group where I was totally independent without any conflicts of interest to my client. I am in total control of my destiny now. By the way, my production has conservatively doubled since I have moved on. I am more confident now, with a broader array of products, and most importantly no distractions.

Thank you Mr. Sullivan!

Sincerely,

Stuart B. Arakelian Registered Representative ... Read more

Book Description

Expert Trevor Kletz examines the causes and aftermaths of numerous plant disasters--almost every one of which could have been prevented. Case histories illustrate what went wrong, why it went wrong, and then guide you in how to circumvent similar tragedies.
Learn from the mistakes of others. This invaluable and respected book examines the causes and aftermaths of numerous plant disasters - almost every one of which could have been prevented. Case histories illustrate what went wrong and why it went wrong, and then guide you in how to circumvent similar tragedies. ... Read more

Reviews (2)

Good for engineers, not-good for non-engineers
From a Safety Manager perspective, I found the descriptions of the incidents too brief. If you are looking for something with detailed incident information and corrective actions, presented in the form of a story, look somewhere else.

The standard in process safety incident case reviews.
We have made this book part of a required reading program for all engineers, as part of our company's process safety program. Anyone involved in chemical or petroleum operations, will benefit greatly from the wisdom that can be gained by learning from other's mistakes. As my old boss used to say, "You can accumulate about 50 years of knowledge in your work life-time. What you need is 100 years of wisdom." By reading this book you can accumulate 100 years of wisdom. The book is a collection of short summaries arranged by topic. This allows for easy short term reading periods appropriate for training classes or casual reading.

ejb ... Read more

Book Description

Books in Barron's pocket-sized Business Dictionaries series listthousands of specialized terms alphabetically and present concise definitions.The authors of books in this series are recognized authorities in their fields.Newly updated editions reflect new technologies, their business applications,and recent business trends. This book defines more than 4,200 insurance termsthat should be understood by agents, brokers, actuaries, underwriters, personnelprofessionals dealing with employee-benefit programs, and consumers who need tounderstand the insurance policies they plan to buy. Terminology covers life,health, property, and casualty insurance, as well as retirement plans. This new,heavily updated edition has been expanded with approximately 200 new terms, andupdatings of many other terms to reflect the current state of the insuranceindustry. ... Read more

Reviews (4)

Thick Junk
I have been in the insurance industry 15 years and just decided to buy this as an addition for my work desk. I rarely open the book, however, anytime I go to look up a coverage definition it is not listed. This book is of NO use to me. Not really sure who would use this.............a person who hands out maps at the Auto Club who may need to look up a word or two?

Slightly incomplete
For general knowledge of insurance terms I guess this is an adequate dictionary and nevertheless needed for understanding insurance terms. I find however that being IN the insurance business as a newcomer and needing to have all my insurance words defined, this dictionary lacks many terms used, at least on the Life insurance side of it, so leaves me grasping for other sources and references to find these words which should be defined in this dictionary in the first place.

Excellent reference book
This is an American based book but covers every imaginable insurance term, in every sector of the finance/insurance industry. It not only provides definitions of terms but broadley defines the cover provided under different types of insurance. This is a must for any professional in the financial services/insurance industry as a great reference.

Useful handbook
Useful dictionary for people working for a insurance company or other financial institution. ... Read more

Reviews (9)

You'd Be Surprised
If you have ever wondered about life insurance and all of the goods and bads about it, this is most difintely the book for you to get. You'd be surprised as to who recommended me this book. My RVP. And what is it that i do. I help people figure out if their life insurance is actually the one for them, if not, I find something better for them perhaps. This book was one of the required materials for all interns to read and follow by. By all means, not all insurance salesmen, and woman, fear this book, some actually live and sell by it. Overall, it's a great book. It opens your eyes to the reality of the insurance business!

The BIBLE of Life Insurance Product Knowledge
For anyone concerned about the vast array of life insurance products, Dacey is right on target about the way cash value and term life insurances work. His analyses are timeless, because the products are constructed the same today as when he originally wrote the book. "There is nothing new under the sun . . . ."
Despite the ever-changing assortment of "titles" the cash value industry puts on its policies, the fundamentals are the same, always have been, always will be: as you get older, the risk of dying and the cost of insurance increases; if you don't increase the premium with time, or create the correct level premium from day one, the product is most likely to collapse at some point in the future when you can least afford that event (AKA: Universal Life -- see the "guaranteed" column in your policy's illustration pages, not the "based on current assumptions" column), because "current assumptions" that create initial premiums are artificial -- there can be no guarantee that they will remain the same into the future (and most never do).
Buy AND READ this book--all of it!!--to get a thorough working knowledge of the industry, its products, and understand your true need for INCOME PROTECTION, not LIFE INSURANCE that your cash value life agent wants to sell you. Do business with someone who also understands and believes in Dacey's "buy term and invest the difference" concept. They're out there!!

Real AMMO for your next talk with an insurance salesman
Yes, this book is an idealogical tirade against the concept of permanent insurance and the companies that have pushed it for years. But it also presents tremendous amounts of interesting factual information. This book will get you asking the questions that really matter:

1) How could anybody pretend to insure me permanently against the most certain event in life--DEATH?

2) Why should I need insurance after I retire?

3) Why and when do I really need insurance?

Yes. This book will make you spit bullets. Your Grandpa and your life insurance salesman friends will not like this book. Try to be understanding of them. They have been trained to think buying insurance is like buying a car; why would anybody want to lease when he could buy? But if you have read and agreed to "The Millionaire Next Door," you will agree that you have little need for permanent life insurance.

A MUST READ for anyone who's planning to buy life insurance!
This text smashes the myths put forth by the big life insurance companies about how life insurance REALLY works! If you are planning on protecting your family's well being through the purchase of a life insurance policy, READ THIS BOOK FIRST! If you already OWN a life insurance policy, this text will REALLY open your eyes. (not to mention, probably get you VERY angry!) You will save yourself a LOT more then the purchase price of this book. I guarantee it!

Incredible Statics of How "MOST" Ins. Cos. Rape the Consumer
This book should be MUST reading by anyone who is considering entering the field of Insurance and a career. Jim F. Lexington, KY ... Read more