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- Title
Minimizing Losses in A Hostile Environment: The Costs of Defending One's Castle.
- Authors
Prohaska, Charles R.; Taylor, Walton
- Abstract
ABSTRACT The increasing national burglary rate has attracted the attention of homeowners, insurance companies, and the manufacturers of intrusion detection system. This article deals with the development of a model that serves as a guide for estimating the amount of insurance coverage and/or the investment in a warning and protective system required to minimize the potential losses caused by the crime of burglary. To utilize the model, information related to the following variables is required: the functional levels of warning and protective systems available and a characterization of the target premises including the dollar amount of stealable goods, physical and visual access to the premises, and relative occupancy. General properties of the model are discussed, and its use in a typical situation is demonstrated.
- Subjects
THEFT insurance; INSURANCE rates; BURGLARY protection; INSURANCE investigators; VALUATION; PROPERTY insurance
- Publication
Journal of Risk & Insurance, 1973, Vol 40, Issue 3, p375
- ISSN
0022-4367
- Publication type
Article
- DOI
10.2307/252225