{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,7,7]],"date-time":"2026-07-07T00:48:06Z","timestamp":1783385286559,"version":"3.54.6"},"reference-count":27,"publisher":"Wiley","issue":"1","license":[{"start":{"date-parts":[[2021,4,2]],"date-time":"2021-04-02T00:00:00Z","timestamp":1617321600000},"content-version":"vor","delay-in-days":91,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":["onlinelibrary.wiley.com"],"crossmark-restriction":true},"short-container-title":["Complexity"],"published-print":{"date-parts":[[2021,1]]},"abstract":"<jats:p>Statistical distributions play a prominent role for modeling data in applied fields, particularly in actuarial, financial sciences, and risk management fields. Among the statistical distributions, the heavy\u2010tailed distributions have proven the best choice to use for modeling heavy\u2010tailed financial data. The actuaries are often in search of such types of distributions to provide the best description of the actuarial and financial data. This study presents a new power transformation to introduce a new family of heavy\u2010tailed distributions useful for modeling heavy\u2010tailed financial data. A submodel, namely, heavy\u2010tailed beta\u2010power transformed Weibull model is considered to demonstrate the adequacy of the proposed method. Some actuarial measures such as value at risk, tail value at risk, tail variance, and tail variance premium are calculated. A brief simulation study based on these measures is provided. Finally, an application to the insurance loss dataset is analyzed, which revealed that the proposed distribution is a superior model among the competitors and could potentially be very adequate in describing and modeling actuarial and financial data.<\/jats:p>","DOI":"10.1155\/2021\/5580228","type":"journal-article","created":{"date-parts":[[2021,4,2]],"date-time":"2021-04-02T19:05:05Z","timestamp":1617390305000},"update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":18,"title":["A New Class of Heavy\u2010Tailed Distributions: Modeling and Simulating Actuarial Measures"],"prefix":"10.1155","volume":"2021","author":[{"given":"Jin","family":"Zhao","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3782-4081","authenticated-orcid":false,"given":"Zubair","family":"Ahmad","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-6109-7342","authenticated-orcid":false,"given":"Eisa","family":"Mahmoudi","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"E. 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