caa a22 4500 605483078 CHVBK 20210128100429.0 cr unu---uuuuu 210128e20150501xx s 000 0 eng 10.1007/s10551-014-2120-0 doi (NATIONALLICENCE)springer-10.1007/s10551-014-2120-0 Landes Xavier University of Copenhagen, Copenhagen, Denmark aut How Fair Is Actuarial Fairness? [Elektronische Daten] [Xavier Landes] Insurance is pervasive in many social settings. As a cooperative device based on risk pooling, it serves to attenuate the adverse consequences of various risks (health, unemployment, natural catastrophes and so forth) by offering policyholders coverage against the losses implied by adverse events in exchange for the payment of premiums. In the insurance industry, the concept of actuarial fairness serves to establish what could be adequate, fair premiums. Accordingly, premiums paid by policyholders should match as closely as possible their risk exposure (i.e. their expected losses). Such premiums are the product of the probabilities of losses and the expected losses. This article presents a discussion of the fairness of actuarial fairness through three steps: (1) defining the concept based on its formulation within the insurance industry; (2) determining in which sense it may be about fairness; and (3) raising some objections to the actual fairness of actuarial fairness. The necessity of a normative evaluation of actuarial fairness is justified by the influence of the concept on the current reforms of public insurance systems and the fact that it highlights the question of the repartition of the gains and burdens of social cooperation. Springer Science+Business Media Dordrecht, 2014 Cooperation nationallicence Expected utility nationallicence Insurance nationallicence Fairness nationallicence Premiums nationallicence Responsibility nationallicence Journal of Business Ethics Springer Netherlands 128/3(2015-05-01), 519-533 0167-4544 128:3<519 2015 128 10551 https://doi.org/10.1007/s10551-014-2120-0 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10551-014-2120-0 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Landes Xavier University of Copenhagen, Copenhagen, Denmark aut NATIONALLICENCE 773 0- Journal of Business Ethics Springer Netherlands 128/3(2015-05-01), 519-533 0167-4544 128:3<519 2015 128 10551