The Insurance element simulates claims against an insurance policy. You must specify the properties of the insurance policy (the deductible, the cap, and when these are reset), and then you specify one or more discrete claims. The key outputs are the cumulative covered and uncovered losses for the claims.
The Insurance.gsm example model can be found in the can be found in the Financial Examples folder in your GoldSim directory (accessed by selecting File | Open Example... from the main menu). It demonstrates the use of the Insurance element:
In the file, each Container An element that acts like a "box" or a "folder" into which other elements can be placed. It can be used to create hierarchical models. holds an Insurance element that is subject to the same claims. Each Insurance element has the same deductible and cap, but the deductible and cap is reset at different times (after each claim, annually, after two years, and never):
The results of the model (for each Container) provide information on covered and uncovered claims, along with changes in deductible and cap balances. The four different policies are then compared (in terms of the cumulative amount of coverage):
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