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Question 5. (20 marks) Suppose that the possible values of S are non-negative integers. For...

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Question 5. (20 marks) Suppose that the possible values of S are non-negative integers. For a stop-loss contract with deductible d, the amount paid by the reinsurer to the ceding insurer Is I,-(S-d)+- Prove the following recursive formulas: (a) (12 marks) if d is an integer, then b) (8 arks) if d is not an integer, then where Id] is the integer part of d. Question 5. (20 marks) Suppose that the possible values of S are non-negative integers. For a stop-loss contract with deductible d, the amount paid by the reinsurer to the ceding insurer Is I,-(S-d)+- Prove the following recursive formulas: (a) (12 marks) if d is an integer, then b) (8 arks) if d is not an integer, then where Id] is the integer part of d

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