Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Careers - Employment
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions



Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 11-10-2015, 09:30 PM
hello_actuary hello_actuary is offline
Member
CAS SOA
 
Join Date: Jul 2012
Posts: 826
Default Are dogs and cats your assets?

Do you count dogs and cats as your assets if you love them so much?

If so, do you buy property insurance for your dogs and cats besides health insurance?

I have not dealt with property insurance before, but I am curious to know more.

How do you price insurances on those animals with four legs in contrast to people?

Other animals are welcome as well. I assume some procedures covered will be similar to what covered in people's insurance.

What types of actuarial or statistical models would you use to price animal insurance?

Thanks for comments in advance.
Reply With Quote
  #2  
Old 11-10-2015, 09:46 PM
Captain Oveur Captain Oveur is offline
Member
SOA
 
Join Date: Jul 2013
Posts: 12,702
Default

Yes
Reply With Quote
  #3  
Old 11-10-2015, 09:56 PM
clarinetist clarinetist is offline
Member
Non-Actuary
 
Join Date: Aug 2011
Posts: 6,888
Default

Assets = Liabilities + Stockholders' Equity

Therefore, something is an asset if and only if it is a liability or equity.

Meh, I don't care much for accounting.
__________________
If you want to add me on LinkedIn, PM me.

Why I hate Microsoft Access.

Studying/Reading: Measure-theoretic probability, concurrent and distributed computing.
Reply With Quote
  #4  
Old 11-10-2015, 09:57 PM
Arthur Itas's Avatar
Arthur Itas Arthur Itas is offline
Member
CAS
 
Join Date: Feb 2004
Location: Atlanta
Studying for Prostate exam
College: Hard Knocks
Posts: 22,510
Default

Family pets are typically not "assets" for insurance purposes.

Livestock mortality is a real product, as is transit coverage. There can be major expense and risk in moving some large animals (think zoos and aquariums).
Reply With Quote
  #5  
Old 11-10-2015, 10:06 PM
hello_actuary hello_actuary is offline
Member
CAS SOA
 
Join Date: Jul 2012
Posts: 826
Default

Quote:
Originally Posted by clarinetist View Post
Assets = Liabilities + Stockholders' Equity

Therefore, something is an asset if and only if it is a liability or equity.

Meh, I don't care much for accounting.
If one got hurt by someone else's dogs, would not the dog's master be liable to the one's medical expense?
Reply With Quote
  #6  
Old 11-10-2015, 10:44 PM
Senpai's Avatar
Senpai Senpai is offline
Member
CAS
 
Join Date: Jun 2015
Posts: 282
Default

i like cats
__________________
Our language, Tiger, our language, hundreds of thousands of available words, frillions of possible legitimate new ideas, so that I can say this sentence and be confident it has never been uttered before in the history of human communication: "Hold the newsreader's nose squarely, waiter, or friendly milk will countermand my trousers."
Reply With Quote
  #7  
Old 11-10-2015, 10:51 PM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is online now
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 50,434
Default

Quote:
Originally Posted by Senpai View Post
i like cats


same here
__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #8  
Old 11-10-2015, 10:53 PM
Captain Oveur Captain Oveur is offline
Member
SOA
 
Join Date: Jul 2013
Posts: 12,702
Default

Quote:
Originally Posted by Colonel Smoothie View Post


same here
I like cats, but I don't like it when they walk on my face at 4 AM while on the prowl.
Reply With Quote
  #9  
Old 11-10-2015, 10:56 PM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is online now
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 50,434
Default

Quote:
Originally Posted by Arthur Itas View Post
Livestock mortality is a real product, as is transit coverage.
Yeah...and livestock claims involving hailstorms can get quite messy...literally.

__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #10  
Old 11-11-2015, 08:24 AM
kernel's Avatar
kernel kernel is offline
Member
SOA
 
Join Date: Mar 2010
Posts: 843
Default

I have pet insurance on my animals. I don't think of them as assets (they are family members). If anything, they are liabilities (food, time, toys, medicine...) that can cost a ton.

Edit: My pets are assets. If I needed to, I could sell them for cash.

Last edited by kernel; 11-11-2015 at 11:13 AM..
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 03:15 AM.


Powered by vBulletin®
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.51670 seconds with 11 queries