Mossin's Theorem for Upper-Limit Insurance Policies
Although Mossin's Theorem ("full insurance with a fair premium and less-than-full coverage with a proportional premium loading") is well known for the classes of coinsurance contracts and for deductible-insurance contracts, it has not been proven for the class of upper-limit insurance contracts. This article provides a proof for this case. Copyright The Journal of Risk and Insurance, 2006.