WorldWideScience

Sample records for crop insurance contracts

  1. Legal and economic aspects of contracts of insurance of crops and yields against drought

    Directory of Open Access Journals (Sweden)

    Veselinović Janko P.

    2016-01-01

    Full Text Available The contract of insurance of crops and yields against drought is based on the risk of decrease of precipitation in comparison with an earlier relevant period. The authors analysed the specificities of the case of draught risk, but also other regulations characteristic of this contractual relationship, both from the economic and the legal point of view. The paper also treats the position of contractual parties in this contractual relationship, partly arising from the monopolising position of the insuring organisation. That part also analyses the contract freedom that is endangered due to unequal positions of contractual parties. Special attention is paid to legal sources, especially the general and special conditions of insurance organisations, seeing as they are the main source of law, as there is a lack of legal regulation of this field. The number of Serbian insurance organisations that offer this type of insurance is extremely low, as well as the percentage of insurance against this risk. The authors analyse the reasons for which this type of insurance is underdeveloped in Serbia, as well as the consequences of such a state to a safe agricultural production. The paper also covers the topic of the role of legislators and the state in general, in terms of regulation of certain elements of this contractual relation, but also in terms of state incentives that would contribute to a higher percentage of insured agricultural areas. This would reduce the uncertainty and the damage suffered by agricultural producers due to increasing weather fluctuations. Taking into account the inadequate legal and economic tradition, education in this field would represent a significant contribution to the development of this kind of insurance. The authors analyse the difference between the contracts of insurance of crops and yields against drought and the weather derivative contracts, which can be traded on the stock market.

  2. Crop-insurance

    NARCIS (Netherlands)

    Wijk, van der S.

    1945-01-01

    Crop insurance was fairly new in the Netherlands but there was no legal objection or limitation to particular crops. If a crop were insured, it was important that the whole area of the crop were insured. Speculative insurance seemed preferable to mutual insurance.

    Crop insurance covered all risks

  3. SPATIO-TEMPORAL MODELING OF AGRICULTURAL YIELD DATA WITH AN APPLICATION TO PRICING CROP INSURANCE CONTRACTS

    Science.gov (United States)

    Ozaki, Vitor A.; Ghosh, Sujit K.; Goodwin, Barry K.; Shirota, Ricardo

    2009-01-01

    This article presents a statistical model of agricultural yield data based on a set of hierarchical Bayesian models that allows joint modeling of temporal and spatial autocorrelation. This method captures a comprehensive range of the various uncertainties involved in predicting crop insurance premium rates as opposed to the more traditional ad hoc, two-stage methods that are typically based on independent estimation and prediction. A panel data set of county-average yield data was analyzed for 290 counties in the State of Paraná (Brazil) for the period of 1990 through 2002. Posterior predictive criteria are used to evaluate different model specifications. This article provides substantial improvements in the statistical and actuarial methods often applied to the calculation of insurance premium rates. These improvements are especially relevant to situations where data are limited. PMID:19890450

  4. 78 FR 13454 - Common Crop Insurance Regulations; Pecan Revenue Crop Insurance Provisions

    Science.gov (United States)

    2013-02-28

    ... Federal Crop Insurance Corporation 7 CFR Part 457 RIN 0563-AC35 Common Crop Insurance Regulations; Pecan Revenue Crop Insurance Provisions AGENCY: Federal Crop Insurance Corporation, USDA. ACTION: Final rule. SUMMARY: The Federal Crop Insurance Corporation (FCIC) finalizes the Common Crop Insurance Regulations...

  5. 78 FR 55171 - Common Crop Insurance Regulations; Processing Sweet Corn Crop Insurance Provisions

    Science.gov (United States)

    2013-09-10

    ...-0001] RIN 0563-AC37 Common Crop Insurance Regulations; Processing Sweet Corn Crop Insurance Provisions... Corporation (FCIC) finalizes the Common Crop Insurance Regulations, Processing Sweet Corn Crop Insurance... changes to the Common Crop Insurance Regulations (7 CFR part 457), Processing Sweet Corn Crop Insurance...

  6. 77 FR 3400 - Common Crop Insurance Regulations; Peach Crop Insurance Provisions

    Science.gov (United States)

    2012-01-24

    ... Insurance Corporation 7 CFR Part 457 [Docket No. FCIC-11-0011] RIN 0563-AC34 Common Crop Insurance Regulations; Peach Crop Insurance Provisions AGENCY: Federal Crop Insurance Corporation, USDA. ACTION: Proposed rule. SUMMARY: The Federal Crop Insurance Corporation (FCIC) proposes to amend the Common Crop...

  7. 75 FR 52218 - Common Crop Insurance Regulations; Apple Crop Insurance Provisions

    Science.gov (United States)

    2010-08-25

    ... their apple production to the public as fresh apples, without undergoing any change in its basic form... Crop Insurance Regulations; Apple Crop Insurance Provisions AGENCY: Federal Crop Insurance Corporation... Crop Insurance Regulations, Apple Crop Insurance Provisions. The intended effect of this action is to...

  8. 76 FR 4201 - Common Crop Insurance Regulations, Macadamia Nut Crop Insurance Provisions; Correction

    Science.gov (United States)

    2011-01-25

    ... #0; #0;Rules and Regulations #0; Federal Register #0; #0; #0;This section of the FEDERAL REGISTER...;Federal Register / Vol. 76, No. 16 / Tuesday, January 25, 2011 / Rules and Regulations#0;#0; [[Page 4201... sentence in the background stated ``The 2011 contract change date for the Macadamia Nut Crop Insurance...

  9. 78 FR 22411 - Common Crop Insurance Regulations; Florida Citrus Fruit Crop Insurance Provisions; Correction

    Science.gov (United States)

    2013-04-16

    ... / Tuesday, April 16, 2013 / Rules and Regulations#0;#0; ] DEPARTMENT OF AGRICULTURE Federal Crop Insurance Corporation 7 CFR Part 457 RIN 0563-AC39 Common Crop Insurance Regulations; Florida Citrus Fruit Crop Insurance Provisions; Correction AGENCY: Federal Crop Insurance Corporation, USDA. ACTION: Final rule...

  10. Duty to provide pre-contractual information of crop insurance

    Directory of Open Access Journals (Sweden)

    Ivančević Katarina

    2016-01-01

    Full Text Available Crop insurance is one of the most important types of agricultural insurance. From the aspect of insurance technique, this insurance is very challenging and requires careful drafting of insurance terms and tariffs. This type of insurance can provide security to farmers in case of financial losses caused by numerous risks which they are exposed to. Insufficient knowledge of the opportunities that the insurance provides is caused in part by inaccurate and vague explanations that have been offered by insurers in negotiation stage to interested farmers. In this regard, an important novelty in Serbian law is the obligation of contractual information which was introduced by the new Insurance Law (IL. In this way, additional protection to users of the service of insurance in relation to the provisions of the obligation law is provided. The goal of this obligation is to allow a negotiator to gain a clear idea of the essential elements of the insurance contract, to consider the proposed coverage and make a reasonable decision whether to accept the conclusion of the insurance contract or not, i.e. under what conditions it should be concluded. Sanctions for failure in the obligation to inform act preventively and repressively on insurers. The aim of this study is analyse the legal and factual position of the service beneficiaries in terms of obligation of economically and experientially superior contractor of lawful and full information of a policyholder prior to the conclusion of an insurance contract in a very specific branch of insurance, such as crop insurance. The application of inductive-deductive and comparative-legal research method, points to certain doctrinal and normative solutions from other legal systems, legal provisions applicable in the law of the Republic of Serbia are critically set out, as well as the daily practice of insurance companies.

  11. 7 CFR 457.151 - Forage seeding crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Forage seeding crop insurance provisions. 457.151... INSURANCE CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.151 Forage seeding crop insurance provisions. The Forage Seeding Crop Insurance Provisions for 2003 and succeeding crop...

  12. The Issue of Property Insurance Contract Termination

    Directory of Open Access Journals (Sweden)

    Taras Y. Luzyanin

    2016-04-01

    Full Text Available The article is devoted to the problems of termination of the contract and its legal effects illustrated by a property insurance contract. The author proposes a definition of termination of the property insurance contract and considers its main features. The article addresses the controversial issues of participation of third parties in the termination of the contract. The analysis of legal acts, judicial performance and the doctrine allows the author to propose improvements to the legal regulation.

  13. 7 CFR 457.108 - Sunflower seed crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Sunflower seed crop insurance provisions. 457.108... INSURANCE CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.108 Sunflower seed crop insurance provisions. The sunflower seed crop insurance provisions for the 2003 and succeeding...

  14. 7 CFR 457.117 - Forage production crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Forage production crop insurance provisions. 457.117... INSURANCE CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.117 Forage production crop insurance provisions. The Forage Production Crop Insurance Provisions for the 2001 and...

  15. 7 CFR 457.149 - Table grape crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Table grape crop insurance provisions. 457.149 Section... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.149 Table grape crop insurance provisions. The Table Grape Crop Insurance Provisions for the 2010 and succeeding crop years are as follows...

  16. 7 CFR 457.138 - Grape crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Grape crop insurance provisions. 457.138 Section 457... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.138 Grape crop insurance provisions. The grape crop insurance provisions for the 2010 and succeeding crop years are as follows: United...

  17. 7 CFR 457.109 - Sugar Beet Crop Insurance Provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Sugar Beet Crop Insurance Provisions. 457.109 Section... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.109 Sugar Beet Crop Insurance Provisions. The Sugar Beet Crop Insurance Provisions for the 1998 and succeeding crop years in countries with...

  18. 7 CFR 457.104 - Cotton crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Cotton crop insurance provisions. 457.104 Section 457... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.104 Cotton crop insurance provisions. The cotton crop insurance provisions for the 1998 and succeeding crop years are as follows...

  19. 7 CFR 457.158 - Apple crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Apple crop insurance provisions. 457.158 Section 457... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.158 Apple crop insurance provisions. The Apple Crop Insurance Provisions for the 2005 and succeeding crop years are as follows: FCIC...

  20. 7 CFR 457.166 - Blueberry crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Blueberry crop insurance provisions. 457.166 Section... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.166 Blueberry crop insurance provisions. The Blueberry Crop Insurance Provisions for the 2005 and succeeding crop years are as follows...

  1. 26 CFR 1.7702-2 - Attained age of the insured under a life insurance contract.

    Science.gov (United States)

    2010-04-01

    ... age of the insured under a life insurance contract. (a) In general. This section provides guidance on determining the attained age of an insured under a contract that is a life insurance contract under the... second of the two insureds dies. (ii) Section 1.7702-2(c)(1) provides that if a life insurance contract...

  2. 76 FR 32067 - Common Crop Insurance Regulations; Extra Long Staple Cotton Crop Provisions

    Science.gov (United States)

    2011-06-03

    ... Staple Cotton Crop Insurance Provisions to remove all references to the Daily Spot Cotton Quotation and... Corporation 7 CFR Part 457 RIN 0563-AC27 Common Crop Insurance Regulations; Extra Long Staple Cotton Crop... Cotton Crop Insurance Provisions consistent with the Upland Cotton Crop Insurance Provisions. The...

  3. 77 FR 22467 - Common Crop Insurance Regulations; Fresh Market Tomato (Dollar Plan) Crop Provisions

    Science.gov (United States)

    2012-04-16

    ...-0006] RIN 0563-AC32 Common Crop Insurance Regulations; Fresh Market Tomato (Dollar Plan) Crop... Insurance Corporation (FCIC) finalizes the Common Crop Insurance Regulations, Fresh Market Tomato (Dollar... Common Crop Insurance Regulations (7 CFR part 457), Fresh Market Tomato (Dollar Plan) Crop Provisions...

  4. 7 CFR 457.160 - Processing tomato crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Processing tomato crop insurance provisions. 457.160... tomato crop insurance provisions. The Processing Tomato Crop Insurance Provisions for the 2005 and... polices: Processing Tomato Crop Provisions If a conflict exists among the policy provisions, the order of...

  5. 7 CFR 457.101 - Small grains crop insurance.

    Science.gov (United States)

    2010-01-01

    ... insured crop and you plant any insurable acreage of the winter type, you may not change your crop... exists among the policy provisions, the order of priority is as follows: (1) The Catastrophic Risk... an application must be filed and by which you may change your crop insurance coverage for a crop year...

  6. Weather based risks and insurances for crop production in Belgium

    Science.gov (United States)

    Gobin, Anne

    2014-05-01

    Extreme weather events such as late frosts, droughts, heat waves and rain storms can have devastating effects on cropping systems. Damages due to extreme events are strongly dependent on crop type, crop stage, soil type and soil conditions. The perspective of rising risk-exposure is exacerbated further by limited aid received for agricultural damage, an overall reduction of direct income support to farmers and projected intensification of weather extremes with climate change. According to both the agriculture and finance sectors, a risk assessment of extreme weather events and their impact on cropping systems is needed. The impact of extreme weather events particularly during the sensitive periods of the farming calendar requires a modelling approach to capture the mixture of non-linear interactions between the crop, its environment and the occurrence of the meteorological event. The risk of soil moisture deficit increases towards harvesting, such that drought stress occurs in spring and summer. Conversely, waterlogging occurs mostly during early spring and autumn. Risks of temperature stress appear during winter and spring for chilling and during summer for heat. Since crop development is driven by thermal time and photoperiod, the regional crop model REGCROP (Gobin, 2010) enabled to examine the likely frequency, magnitude and impacts of frost, drought, heat stress and waterlogging in relation to the cropping season and crop sensitive stages. The risk profiles were subsequently confronted with yields, yield losses and insurance claims for different crops. Physically based crop models such as REGCROP assist in understanding the links between different factors causing crop damage as demonstrated for cropping systems in Belgium. Extreme weather events have already precipitated contraction of insurance coverage in some markets (e.g. hail insurance), and the process can be expected to continue if the losses or damages from such events increase in the future. Climate

  7. Perception of Innovative Crop Insurance in Australia

    NARCIS (Netherlands)

    Meuwissen, M.P.M.; Molnar, T.A.

    2010-01-01

    Worldwide, extreme climate risks cause stakeholders in food supply chains to search for new risk management tools. In Australia, recently so-called crop yield simulation insurance has been introduced based on an integrated agrometeorological simulation model. Current uptake is relatively low,

  8. 7 CFR 400.47 - Denial of crop insurance.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Denial of crop insurance. 400.47 Section 400.47 Agriculture Regulations of the Department of Agriculture (Continued) FEDERAL CROP INSURANCE CORPORATION...; Denial of Benefits § 400.47 Denial of crop insurance. (a) Any person convicted under Federal or State law...

  9. 76 FR 44199 - Area Risk Protection Insurance Regulations and Area Risk Protection Insurance Crop Provisions

    Science.gov (United States)

    2011-07-22

    ... associated with the proposed rule cannot be quantified. The qualitative assessment indicates that the... corn as insurable under ARPI. Insuring crops that are not basic ARPI crops by coding them with their...

  10. 76 FR 71271 - Common Crop Insurance Regulations; Fresh Market Tomato (Dollar Plan) Crop Provisions

    Science.gov (United States)

    2011-11-17

    ... policy does not cover the inability to market the insured crop due to quarantine, boycott, or refusal of... are unable to market the insured crop due to quarantine, boycott, or refusal of any person to accept...

  11. Impacts of crop insurance on water withdrawals for irrigation

    Science.gov (United States)

    Deryugina, Tatyana; Konar, Megan

    2017-12-01

    Agricultural production remains particularly vulnerable to weather fluctuations and extreme events, such as droughts, floods, and heat waves. Crop insurance is a risk management tool developed to mitigate some of this weather risk and protect farmer income in times of poor production. However, crop insurance may have unintended consequences for water resources sustainability, as the vast majority of freshwater withdrawals go to agriculture. The causal impact of crop insurance on water use in agriculture remains poorly understood. Here, we determine the empirical relationship between crop insurance and irrigation water withdrawals in the United States. Importantly, we use an instrumental variables approach to establish causality. Our methodology exploits a major policy change in the crop insurance system - the 1994 Federal Crop Insurance Reform Act - which imposed crop insurance requirements on farmers. We find that a 1% increase in insured crop acreage leads to a 0.223% increase in irrigation withdrawals, with most coming from groundwater aquifers. We identify farmers growing more groundwater-fed cotton as an important mechanism contributing to increased withdrawals. A 1% increase in insured crop acreage leads to a 0.624% increase in cotton acreage, or 95,602 acres. These results demonstrate that crop insurance causally leads to more irrigation withdrawals. More broadly, this work underscores the importance of determining causality in the water-food nexus as we endeavor to achieve global food security and water resources sustainability.

  12. 7 CFR 457.167 - Pecan revenue crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... which two or more crops are planted in any form of alternating or mixed pattern. Market price—The market...: Pecan Revenue Crop Insurance Provisions 1. Definitions AMS. The Agricultural Marketing Service of the... marketing—Sale of the insured crop directly to consumers without the intervention of an intermediary such as...

  13. 78 FR 46249 - Common Crop Insurance Regulations; Arizona-California Citrus Crop Insurance Provisions

    Science.gov (United States)

    2013-07-31

    ... purposes of electing coverage levels and identifying the insured crop. Commodity type. A specific subgroup... Provisions. The intended effect of this action is to provide policy changes and clarify existing policy... and Standards Division, Risk Management Agency, United States Department of Agriculture, Beacon...

  14. Adoption of Crop Insurance Schemes in Tamil Nadu

    Directory of Open Access Journals (Sweden)

    V Karthick

    2017-12-01

    Full Text Available The study was conducted in Southern zone of Tamil Nadu a constituent state of India. One hundred and eighty farmers who had adopted crop insurance schemes were selected through random sampling procedure. The respondents were interviewed using a pre-tested questionnaire for identifying factors influencing and constraints in adoption of crop insurance schemes. The study revealed that lack of scope for crop diversification and definite crop loss due to adverse climatic condition were the major factors influencing the adoption of crop insurance schemes. The study inferred that lack of compensation from the crop insurance scheme, delayed payment of indemnity, lack of awareness about the scheme and lengthy procedure to avail crop insurance were the major constraints.

  15. Good Faith in Life Insurance Contract by Indonesian Court

    Directory of Open Access Journals (Sweden)

    Mokhamad Khoirul Huda

    2017-03-01

    Full Text Available This paper reviews both the interpretation of good faith and its implementation by the Court in terms of life insurance contracts. The principle of good faith in life insurance contracts was under the provision of the Article 251 Wet Boek van Kophandel which assigned the obligation of good faith on the insured. Based on the context of its historical and systematical interpretation, the obligation of good faith should be on both sides, the insurer and the insured. The insured had an obligation to inform any material facts and the insurer had to investigate those all facts. Until recent days, however, judges in all levels of Court did not have any shared and full understanding on the interpretation of good faith in life insurance contracts. As the result, many Courts were frequently inconsistent with each other. Hence, the sense of fairness the people perceived from the court verdict was not achieved.

  16. Conflict of Laws on Insurance Contracts in Europe : he Rome I proposal – Towards Uniform Conflict Rules for Insurance Contracts?

    NARCIS (Netherlands)

    X.E. Kramer (Xandra)

    2007-01-01

    textabstractThis contribution focuses on the conflict of law rules on insurance contracts and the proposed provision on the occasion of the establishment of the Rome I Regulation. It is concluded that the current conflict rules on insurance contracts are unclear and unsatisfactory as a result of

  17. Value Relevance of Embedded Value and IFRS 4 Insurance Contracts

    OpenAIRE

    Rebecca Chung-Fern Wu; Audrey Wen-Hsin Hsu

    2011-01-01

    In light of the recent exodus of foreign insurers from Taiwan and the local insurers’ outcries against the International Financial Reporting Standard (IFRS) 4 Insurance Contracts, we examine the value relevance of financial statements for life insurance firms, with particular interests to the embedded value (EV) disclosure. We find that the EV of equity has an incremental information role for book value of equity, which indicates that the accounting mismatching problem in the insurance indust...

  18. Asymmetric Information, Self-selection, and Pricing of Insurance Contracts

    DEFF Research Database (Denmark)

    Donnelly, Catherine; Englund, Martin Kristian; Nielsen, Jens Perch

    2014-01-01

    This article presents an optional bonus-malus contract based on a priori risk classification of the underlying insurance contract. By inducing self-selection, the purchase of the bonus-malus contract can be used as a screening device. This gives an even better pricing performance than both an exp...... an experience rating scheme and a classical no-claims bonus system. An application to the Danish automobile insurance market is considered....

  19. Optimal Rules of Negligent Misrepresentation in Insurance Contract Law

    DEFF Research Database (Denmark)

    Lando, Henrik

    2016-01-01

    Rules of misrepresentation in insurance contract law differ widely between jurisdictions. When the insured has negligently misrepresented a fact prior to contracting, common law allows the insurer to rescind the contract if the misrepresentation was material, while civil law countries apply more...... lenient rules. The article compares the efficiency of the common and the civil law rules in an adverse selection model in which the insurer separates types of risk not only through a deductible but also by requiring the insured to represent their type. A strict rule of misrepresentation increases...... the incentive for policy-holders to represent truthfully but also exposes them to risk when they may misrepresent by mistake. While the economic literature has tended to defend the strict common law rule, because it makes it easier for the insurer to separate types, the present article demonstrates...

  20. An Optional Instrument for European Insurance Contract Law

    OpenAIRE

    Mandeep Lakhan; Helmut Heiss

    2010-01-01

    The Principles of European Insurance Contract Law, also referred tousing the acronym PEICL, were published in September 2009. They are the result of ten years of academic work undertaken by the"Restatement of European Insurance Contract Law" Project Group. In the time since its establishment in 1999, the project has been transformed from being a stand-alone project to a part of the CoPECL (Common Principles of European Insurance Contract Law) network, drafting a specific part of the Common Fr...

  1. The risk of drought in crop production insurance

    Directory of Open Access Journals (Sweden)

    Žarković Nebojša

    2016-01-01

    Full Text Available The goal of this paper was to study the risk of drought as one of perils which can extremely harm the crop production, and also its coverage by insurance on the insurance market. In that purpose, first the forms of drought in agriculture and its effect on crops and yields were analysed. After that, this weather disaster was put in the spotlight from the insurance risk point of view. Special emphasis was placed on insurance against drought in our country. In implementing the process of risk management from drought, a common approach of insurance companies is that they simply do not offer this type of protection due to often huge potential damage. Such approach is common in insurance companies in high-developed west countries. It is obvious that there should involve government in the resolution of this issue, in order to protect food production as one of the basic preconditions for human survival.

  2. INSURANCE CONTRACTS BASED ON INDICES, A STEP TOWARDS WEATHER DERIVATIVES

    Directory of Open Access Journals (Sweden)

    Boton#537; Horia-Mircea

    2012-07-01

    Full Text Available The aim of this paper is to analyze the methodology of structuring an index based insurance contract. The weather has always been the biggest risk factor in agriculture, affecting all aspects of the economic sectors. In the developed countries of the world, there is a significant number of rain-dependent farmers. To gain insight into potential growth of weather markets in developed countries, we are going to analyze the case of India. In 2003, Basix microfinance company in Hyderabad and ICICI Lombard insurance company in Mumbai have launched a pilot weather insurance, which had as basic index phenomena for Mahahbubnagar district of Andhra Pradesh. Further detail can be found in the full-paper. In the paper we will enumerate the appropriate steps in the determining the necessity for the use of index based insurances. The appropriate stages are making a comparison between index based insurances and traditional insurances, and optimizing the use of weather indices in insurance contracts. In order for the contracts to be successful , the recommended steps are : developing a product based in an index, and after the we need to plan and implement the contract. In planning the implementation it is needed that we: identify the risks and areas where they manifest, then identify the best distribution channels; after this we can develop a prototype of the contract. The next step would the testing of the negotiability of the contract, then the contract is opened to be finalized. After this the index based insurance contract can be introduced to the market, but the program needs monitoring in order to insure its successfulness. In order for the market and contract to grow the necessary step are: having access to the necessary meteorological data, determine the optimal way of integrating the contract in the existing economical context, technical feasibility, property rights and the legal framework. In the end, the aim is to familiarize the literacy field and

  3. 7 CFR 457.129 - Fresh market sweet corn crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Fresh market sweet corn crop insurance provisions. 457... sweet corn crop insurance provisions. The fresh market sweet corn crop insurance provisions for the 2008... Reinsured Policies Fresh Market Sweet Corn Crop Provisions 1. Definitions Allowable cost.—The dollar amount...

  4. 7 CFR 457.154 - Processing sweet corn crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Processing sweet corn crop insurance provisions. 457... sweet corn crop insurance provisions. The Processing Sweet Corn Crop Insurance Provisions for the 1998... policies: Processing Sweet Corn Crop Provisions If a conflict exists among the policy provisions, the order...

  5. 7 CFR 457.152 - Hybrid seed corn crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Hybrid seed corn crop insurance provisions. 457.152... corn crop insurance provisions. The Hybrid Seed Corn Crop Insurance Provisions for the 1998 and... policies Hybrid Seed Corn Crop Provisions If a conflict exists among the policy provisions, the order of...

  6. The design of long term care insurance contracts.

    Science.gov (United States)

    Cremer, Helmuth; Lozachmeur, Jean-Marie; Pestieau, Pierre

    2016-12-01

    This paper studies the design of long term care (LTC) insurance contracts in the presence of ex post moral hazard. While this problem bears some similarity with the study of health insurance (Blomqvist, 1997) the significance of informal LTC affects the problem in several crucial ways. It introduces the potential crowding out of informal care by market care financed through insurance coverage. Furthermore, the information structure becomes more intricate. Informal care is not publicly observable and, unlike the insurer, caregivers know the true needs of their relatives. We determine the optimal second-best contract and show that the optimal reimbursement rate can be written as an A-B-C expression à la Diamond (1998). These terms respectively reflect the efficiency loss as measured by the inverse of the demand elasticity, the distribution of needs and the preferences for risk sharing. Interestingly, informal care directly affects only the first term. More precisely the first term decreases with the presence and significance of informal care. Roughly speaking this means that an efficient LTC insurance contract should offer lower (marginal) reimbursement rates than its counterpart in a health insurance context. Copyright © 2016 Elsevier B.V. All rights reserved.

  7. Big assumptions for small samples in crop insurance

    Science.gov (United States)

    Ashley Elaine Hungerford; Barry Goodwin

    2014-01-01

    The purpose of this paper is to investigate the effects of crop insurance premiums being determined by small samples of yields that are spatially correlated. If spatial autocorrelation and small sample size are not properly accounted for in premium ratings, the premium rates may inaccurately reflect the risk of a loss.

  8. 7 CFR 457.155 - Processing bean crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... with the processing company, and recognized by the Cooperative State Research, Education, and Extension... determination, after loss or damage to the insured crop, based on factors including, but not limited to... the Basic Provisions that allow optional units by section, section equivalent, or FSA farm serial...

  9. 7 CFR 457.137 - Green pea crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... State Research, Education, and Extension Service as compatible with agronomic and weather conditions in... to the insured crop, based on factors including, but not limited to, moisture availability, condition... units by section, section equivalent, or FSA farm serial number and by irrigated and non-irrigated...

  10. 7 CFR 457.130 - Macadamia tree crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... generally in use in the county for the crop to have normal growth and vigor, and are those recognized by the... in any form of alternating or mixed pattern. Irrigated practice. A method by which the normal growth and vigor of the insured trees is maintained by artificially applying adequate quantities of water...

  11. Farmers Perception Of Volume Of Credit Insurance On Crop ...

    African Journals Online (AJOL)

    Areas ( LGAs) of Borno State to investigate farmers perception of of the volume of credit insurance on crop production in Borno State, Nigeria.. Five wards were purposively selected from each LGA and from each ward, ten village communities were selected. Having found out that all the selected villages had about equal ...

  12. 7 CFR 457.123 - Almond crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... quarantine, boycott, or refusal of any person to accept production. 10. Duties in the Event of Damage or Loss...) Potential production on insured acreage that you intend to abandon or no longer care for, if you and we... to care for the crop. We will then make another appraisal when you notify us of further damage or...

  13. 48 CFR 828.306 - Insurance under fixed-price contracts.

    Science.gov (United States)

    2010-10-01

    ... contracts. (a) Term contracts, or contracts of a continuing nature, for ambulance, automobile and aircraft... continuing contract. (2) The services will be obtained from firms known to carry insurance coverage in...

  14. THE DEVELOPMENT OF INSURANCE CONTRACT PROCESSING IN AN INSURANCE BUSSINESS APPLICATION

    OpenAIRE

    Vranešič, Primož

    2008-01-01

    Thesis includes presentation ov insurance bussiness application. The goal of it is to be used for processing insurance contracts. Aim of thesis is to present technologies and tools used in development of application with emphasis on technologies for data presentation Bussines application are important area of information technology. Their role is to automaticly process data. That allows a firm not to spend resources for manual data processing. All this increases productivity and cuts off ...

  15. Crop insurance evaluation in response to extreme events

    Science.gov (United States)

    Moriondo, Marco; Ferrise, Roberto; Bindi, Marco

    2013-04-01

    Crop yield insurance has been indicated as a tool to manage the uncertainties of crop yields (Sherrick et al., 2004) but the changes in crop yield variability as expected in the near future should be carefully considered for a better quantitative assessment of farmer's revenue risk and insurance values in a climatic change regime (Moriondo et al., 2011). Under this point of view, mechanistic crop growth models coupled to the output of General/Regional Circulation Models (GCMs, RCMs) offer a valuable tool to evaluate crop responses to climatic change and this approach has been extensively used to describe crop yield distribution in response to climatic change considering changes in both mean climate and variability. In this work, we studied the effect of a warmer climate on crop yield distribution of durum wheat (Triticum turgidum L. subsp durum) in order to assess the economic significance of climatic change in a risk decision context. Specifically, the outputs of 6 RCMs (Tmin, Tmax, Rainfall, Global Radiation) (van der Linden and Mitchell 2009) have been statistically downscaled by a stochastic weather generator over eight sites across the Mediterranean basin and used to feed the crop growth model Sirius Quality. Three time slices were considered i) the present period PP (average of the period 1975-1990, [CO2]=350 ppm), 2020 (average of the period 2010-2030, SRES scenario A1b, [CO2]=415 ppm) and 2040 (average of the period 2030-2050, SRES scenario A1b, [CO2]=480 ppm). The effect of extreme climate events (i.e. heat stress at anthesis stage) was also considered. The outputs of these simulations were used to estimate the expected payout per hectare from insurance triggered when yields fall below a specific threshold defined as "the insured yield". For each site, the threshold was calculated as a fraction (70%) of the median of yield distribution under PP that represents the percentage of median yield above which indemnity payments are triggered. The results

  16. 26 CFR 1.72-16 - Life insurance contracts purchased under qualified employee plans.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Life insurance contracts purchased under... in Gross Income § 1.72-16 Life insurance contracts purchased under qualified employee plans. (a... pension, annuity, or profit-sharing plans for the purchase of life insurance contracts and rules for the...

  17. 26 CFR 1.264-2 - Single premium life insurance, endowment, or annuity contracts.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Single premium life insurance, endowment, or..., directly or indirectly, to purchase or to continue in effect a single premium life insurance or endowment... payee of such annuity contract. A contract is considered a single premium life insurance, endowment, or...

  18. 26 CFR 1. 6039I-1 - Reporting of certain employer-owned life insurance contracts.

    Science.gov (United States)

    2010-04-01

    ... Reporting of certain employer-owned life insurance contracts. (a) Requirement to report. Section 6039I requires every taxpayer that is an applicable policyholder owning one or more employer-owned life insurance...-owned life insurance contracts issued after August 17, 2006, must provide the information required under...

  19. 76 FR 71276 - Common Crop Insurance Regulations; Pecan Revenue Crop Insurance Provisions

    Science.gov (United States)

    2011-11-17

    ... changing the maximum number of years of average gross sales used to calculate approved average revenue per... price if for any reason AMS does not publish prices for the week. This change is being proposed because... numbers for the crop year. FCIC also proposes to revise the example by changing the historical average...

  20. 75 FR 44709 - Common Crop Insurance Regulations; Stonefruit Crop Insurance Provisions

    Science.gov (United States)

    2010-07-29

    ... significant economic impact on a substantial number of small entities. Program requirements for the Federal.... Environmental Evaluation This action is not expected to have a significant economic impact on the quality of the... quarantine, boycott, or refusal of any person to accept production.'' Therefore, rejection of the crop by the...

  1. 7 CFR 457.119 - Texas citrus fruit crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... you elect to insure. The price election you choose for each crop need not bear the same percentage...) Hail; (6) Tornado; (7) Wildlife; or (8) Failure of the irrigation water supply if caused by an insured...

  2. Court of Justice ruling on transparency of terms in consumer insurance contracts

    NARCIS (Netherlands)

    Mańko, R.

    2015-01-01

    European consumers are protected against unfair terms in consumer contracts, including insurance contracts. However, this protection does not extend to terms setting out the essential elements of a contract, such as the extent of the risk covered and the amount of the insurance premium.

  3. Acceptance of selective contracting: the role of trust in the health insurer

    Science.gov (United States)

    2013-01-01

    Background In a demand oriented health care system based on managed competition, health insurers have incentives to become prudent buyers of care on behalf of their enrolees. They are allowed to selectively contract care providers. This is supposed to stimulate competition between care providers and both increase the quality of care and contain costs in the health care system. However, health insurers are reluctant to implement selective contracting; they believe their enrolees will not accept this. One reason, insurers believe, is that enrolees do not trust their health insurer. However, this has never been studied. This paper aims to study the role played by enrolees’ trust in the health insurer on their acceptance of selective contracting. Methods An online survey was conducted among 4,422 people insured through a large Dutch health insurance company. Trust in the health insurer, trust in the purchasing strategy of the health insurer and acceptance of selective contracting were measured using multiple item scales. A regression model was constructed to analyse the results. Results Trust in the health insurer turned out to be an important prerequisite for the acceptance of selective contracting among their enrolees. The association of trust in the purchasing strategy of the health insurer with acceptance of selective contracting is stronger for older people than younger people. Furthermore, it was found that men and healthier people accepted selective contracting by their health insurer more readily. This was also true for younger people with a low level of trust in their health insurer. Conclusion This study provides insight into factors that influence people’s acceptance of selective contracting by their health insurer. This may help health insurers to implement selective contracting in a way their enrolees will accept and, thus, help systems of managed competition to develop. PMID:24083663

  4. Acceptance of selective contracting: the role of trust in the health insurer.

    Science.gov (United States)

    Bes, Romy E; Wendel, Sonja; Curfs, Emile C; Groenewegen, Peter P; de Jong, Judith D

    2013-10-02

    In a demand oriented health care system based on managed competition, health insurers have incentives to become prudent buyers of care on behalf of their enrolees. They are allowed to selectively contract care providers. This is supposed to stimulate competition between care providers and both increase the quality of care and contain costs in the health care system. However, health insurers are reluctant to implement selective contracting; they believe their enrolees will not accept this. One reason, insurers believe, is that enrolees do not trust their health insurer. However, this has never been studied. This paper aims to study the role played by enrolees' trust in the health insurer on their acceptance of selective contracting. An online survey was conducted among 4,422 people insured through a large Dutch health insurance company. Trust in the health insurer, trust in the purchasing strategy of the health insurer and acceptance of selective contracting were measured using multiple item scales. A regression model was constructed to analyse the results. Trust in the health insurer turned out to be an important prerequisite for the acceptance of selective contracting among their enrolees. The association of trust in the purchasing strategy of the health insurer with acceptance of selective contracting is stronger for older people than younger people. Furthermore, it was found that men and healthier people accepted selective contracting by their health insurer more readily. This was also true for younger people with a low level of trust in their health insurer. This study provides insight into factors that influence people's acceptance of selective contracting by their health insurer. This may help health insurers to implement selective contracting in a way their enrolees will accept and, thus, help systems of managed competition to develop.

  5. 26 CFR 1.412(i)-1 - Certain insurance contract plans.

    Science.gov (United States)

    2010-04-01

    ... annuity contract, the value of the benefits guaranteed by the insurance company issuing the contract under... added by section 1013(a) of the Employee Retirement Income Security Act of 1974 (88 Stat. 914... exclusively by the purchase from an insurance company or companies (licensed under the law of a State or the...

  6. The New European Conflict of Law Rules on Insurance Contracts in Rome I: A Complex Compromise

    NARCIS (Netherlands)

    X.E. Kramer (Xandra)

    2008-01-01

    textabstractThis article focuses on the law applicable to insurance contracts in the EU, most notably on the Regulation No 593/2008 on the Law Applicable to Contractual Obligations (Rome I), which will replace the Rome Convention. The conflict of law rules relating to insurance contracts have always

  7. Valuation of endowment-insurance equity-linked contracts for stocks with exotic dynamics.

    Science.gov (United States)

    Villarroel, Javier

    2014-01-01

    We consider the fair martingale prize of insurance contracts with benefit received either at the insurer's demise or at maturity. We show how to modify the dynamics of the underlying so as to incorporate the possibility that the traded stock has a strong support at some level. The resulting dynamics is integrated and the fair prize of several natural endowment-insurance contracts is obtained.

  8. Utmost good faith in non-marine insurance contracts in Malaysia: the need for legal reform

    OpenAIRE

    Thanasegaran, Haemala

    2017-01-01

    This thesis evaluates whether the duty of utmost good faith (the cornerstone of insurance contracts) is effectively regulated and in tum, observed by insurers and insureds alike in Malaysia. This is researched by evaluating the adequacy of the Insurance Act 1996 (Malaysia) and the Takaful Act 1984 (Malaysia), along with the supporting infrastructure and measures introduced by the Malaysian government in providing for the adherence to the duty of utmost good faith throughout the various stages...

  9. 7 CFR 457.165 - Millet crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... to be used primarily as bird and livestock feed. Nurse crop (companion crop). A crop planted into the...: (a) October 10 for North Dakota, South Dakota, and Wyoming; and (b) October 31 for all other states...

  10. PRICING AND ASSESSING UNIT-LINKED INSURANCE CONTRACTS WITH INVESTMENT GUARANTEES

    Directory of Open Access Journals (Sweden)

    Ciumas Cristina

    2014-07-01

    Full Text Available One of the most interesting life insurance products to have emerged in recent years in the Romanian insurance market has been the unit-linked contract. Unit-linked insurance products are life insurance policies with investment component. A unit-linked life insurance has two important components: protection and investment. The protection component refers to the insured sum in case of the occurrence of insured risks and the investment component refers to the policyholders’ account that represents the present value of the units from the chosen investment funds. Due to the financial instability caused by the Global Crisis and the amplification of market competitiveness, insurers from international markets have started to incorporate guarantees in unit-linked products. So a unit- linked life insurance policy with an asset value guarantee is an insurance policy whose benefit payable on death or at maturity consists of the greater of some guaranteed amount and the value of the units from the investment funds. One of the most challenging issues concerns the pricing of minimum death benefit and maturity benefit guarantees and the establishing of proper reserves for these guarantees. Insurers granting guarantees of this type must estimate the cost and include the cost in the premium. An important component of the activity carried out by the insurance companies is the investment of the premiums paid by policyholders in various types of assets, in order to obtain higher yields than those guaranteed by the insurance contracts, while providing the necessary liquidity for the payment of insurance claims in case of occurrence of the assumed risks. So the guaranteed benefits can be broadly matched or immunized with various types of financial assets, especially with fixed-interest instruments. According to Romanian legislation which regulates the unit-linked life insurance market, unit-linked life insurance contracts pass most of the investment risk to the

  11. Time-Varying Estimation of Crop Insurance Program in Altering North Dakota Farm Economic Structure

    OpenAIRE

    Coleman, Jane A.; Shaik, Saleem

    2009-01-01

    This study examines how federal farm policies, specifically crop insurance, have affected the farm economic structure of North Dakota’s agriculture sector. The system of derived input demand equations is estimated to quantify the changes in North Dakota farmers’ input use when they purchase crop insurance. Further, the cumulative rolling regression technique is applied to capture the varying effects of the farm policies over time. Empirical results from the system of input demand functions in...

  12. The New European Conflict of Law Rules on Insurance Contracts in Rome I: A Complex Compromise

    OpenAIRE

    Kramer, Xandra

    2008-01-01

    textabstractThis article focuses on the law applicable to insurance contracts in the EU, most notably on the Regulation No 593/2008 on the Law Applicable to Contractual Obligations (Rome I), which will replace the Rome Convention. The conflict of law rules relating to insurance contracts have always been one of the most complicated areas in (European) private international law. The conflict rules emanate from diverse sources - various directives and the Rome Convention - and lack cohesion and...

  13. Valuation of Endowment-Insurance Equity-Linked Contracts for Stocks with Exotic Dynamics

    Directory of Open Access Journals (Sweden)

    Javier Villarroel

    2014-01-01

    Full Text Available We consider the fair martingale prize of insurance contracts with benefit received either at the insurer’s demise or at maturity. We show how to modify the dynamics of the underlying so as to incorporate the possibility that the traded stock has a strong support at some level. The resulting dynamics is integrated and the fair prize of several natural endowment-insurance contracts is obtained.

  14. Contracts and Insurance Group Formation by Myopic Players

    NARCIS (Netherlands)

    Lazarova, E.A.; Borm, P.E.M.; van Velzen, S.

    2005-01-01

    This paper employs a cooperative approach to insurance group formation problems.The insurance group formation is analyzed in terms of stability with respect to one-person deviations.Depending on the exact contractual setting, three stability concepts are proposed: individual, contractual and

  15. Insurance search, switching behavior and the role of group contracts

    NARCIS (Netherlands)

    Bolhaar, J.A.; Lindeboom, M.; van der Klaauw, B.

    2015-01-01

    This paper considers consumer behavior in the Dutch market for health insurances, which is characterized by managed competition. We observe substantial price dispersion for the same basic insurance package. We describe the market by a simple consumer search model, which we empirically test using

  16. 7 CFR 457.147 - Central and Southern potato crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ..., condition of the field, marketing windows, and time to crop maturity, that replanting to the insured crop... standards for grading U.S. No. 2 due to external defects will be determined on an individual basis for all... consumption in the general marketing area; (ii) Were not sold as a result of uninsured causes including, but...

  17. 7 CFR 457.169 - Mint crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... mint crop. Cover crop. A small grain crop seeded into mint acreage to reduce soil erosion and wind... produces new mint plants at its tips or nodes. Type. A category of mint identified as a type in the Special... section 1 of the Basic Provisions, will be divided into additional basic units by each mint type...

  18. 7 CFR 457.140 - Dry pea crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... varieties of contract seed peas, and deliver the production from those varieties to the processor/seed... contract seed pea variety by its respective production guarantee; (5) Multiplying each result of section 13... indemnity payment. (c) The value of contract seed pea production to count for each variety in the unit will...

  19. 27 CFR 70.164 - Surrender of property subject to levy in the case of life insurance and endowment contracts.

    Science.gov (United States)

    2010-04-01

    ... subject to levy in the case of life insurance and endowment contracts. 70.164 Section 70.164 Alcohol... the case of life insurance and endowment contracts. (a) In general. This section provides special rules relating to the surrender of property subject to levy in the case of life insurance and endowment...

  20. 26 CFR 1.7702B-2 - Special rules for pre-1997 long-term care insurance contracts.

    Science.gov (United States)

    2010-04-01

    ... 1996 (Public Law 104-191). (b) Pre-1997 long-term care insurance contracts—(1) In general. A pre-1997... Special rules for pre-1997 long-term care insurance contracts. (a) Scope. The definitions and special... a qualified long-term care insurance contract described in section 7702B(b) and any regulations...

  1. Assessing the Challenges in Successful Implementation and Adoption of Crop Insurance in Thailand

    Directory of Open Access Journals (Sweden)

    Shweta Sinha

    2016-12-01

    Full Text Available The purpose of this paper is to assess the gaps in the adoption of crop insurance in Thailand and suggest possible solutions relating to policy support and framework, implementation mechanisms, technology adoption, and awareness amongst farmers. The methodology includes a literature review, interaction with officials, rice experts and insurance experts, and discussion with farmers. A study was undertaken at province level to assess the impact of using rainfall index as a threshold. Additionally, focused group discussions (FGD were conducted with rice farmers at the village level. Key issues targeted in the FGD were to understand the behavior and practices during droughts, impact of drought on crop yield, methods already in use to reduce the impact, such as plantation of drought-resistant rice, and the adoption of crop insurance. Data availability is a challenge and has led to withdrawal of Weather Index Insurance (WII in 2015. WII have threshold levels based on historical rainfall. Adoption of coping mechanisms, such as drought-resistant rice and irrigation increases the chances of adverse selection. In absence of ground based weather data, a combination of satellite agriculture drought information can be used to make crop insurance more attractive as it would help in reducing basis risk and improving insurers and farmers’ confidence in the product. Discussion with farmers, insurance companies, and the Bank of Agriculture and Agricultural Cooperatives (BAAC in Thailand suggested low awareness among farmers about the potential benefits of weather index insurance products. Relatively low compensation is also an obstacle. Proper marketing and awareness raising campaigns should also accompany the introduction of index-based insurance products.

  2. 7 CFR 457.162 - Nursery crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    .... Contract Changes In accordance with section 4 of the Basic Provisions, the contract change date is January... within 72 hours of the failure of such equipment or facilities unless we establish that repair or... greater than zero, and subject to the limit of section 12(g); (1) For other than catastrophic risk...

  3. Assessing the Challenges in Successful Implementation and Adoption of Crop Insurance in Thailand

    OpenAIRE

    Shweta Sinha; Nitin K. Tripathi

    2016-01-01

    The purpose of this paper is to assess the gaps in the adoption of crop insurance in Thailand and suggest possible solutions relating to policy support and framework, implementation mechanisms, technology adoption, and awareness amongst farmers. The methodology includes a literature review, interaction with officials, rice experts and insurance experts, and discussion with farmers. A study was undertaken at province level to assess the impact of using rainfall index as a threshold. Additional...

  4. 7 CFR 457.133 - Prune crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... alternating or mixed pattern. Market price for standard prunes. The price per ton shown on the processor's... Basic Provisions with (1) controlling (2), etc. 1. Definitions Direct marketing. Sale of the insured..., packer, processor, shipper or buyer. Examples of direct marketing include: selling through an on-farm or...

  5. 7 CFR 457.131 - Macadamia nut crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... are unable to market due to quarantine, boycott, or refusal of any person to accept production. 10... production on insured acreage that you intend to abandon or no longer care for, if you and we agree on the... do not agree with our appraisal, we may defer the claim only if you agree to continue to care for the...

  6. 7 CFR 457.122 - Walnut crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... quarantine, boycott, or refusal of any person to accept production. 10. Duties in the Event of Damage or Loss... production on insured acreage that you intend to abandon or no longer care for, if you and we agree on the... do not agree with our appraisal, we may defer the claim only if you agree to continue to care for the...

  7. 7 CFR 457.146 - Northern potato crop insurance-storage coverage endorsement.

    Science.gov (United States)

    2010-01-01

    ... canceled by either you or us for any succeeding crop year by giving written notice to the other party on or before the cancellation date. 3. Potato production grown under a contract that requires the production to... such contract requires delivery of a stated amount of production, rather than all of the production...

  8. Claims settlement in insurance contracts from a consumer protection perspective in Cameroon

    Directory of Open Access Journals (Sweden)

    Comfort Fuah Kwanga

    2017-10-01

    Full Text Available Everyone in the society is faced with the possibility of one or more hazards that are part of life will sooner or later befall him and may occasion some loss. This misfortune is uncertain as to the time and period when it will occur and this amongst others include: fire outbreak, accident, and even death. This necessitates the need for people to go for insurance policies which suit their various needs in order to permit compensation in case of loss. Most consumers of insurance products are “short changed” in the process because very few take the trouble to read through their insurance policies in order to ascertain and understand the terms and conditions. The result is that most often when a claim arises and it is discovered that the loss is not covered by the terms of the insurance contract, there is the tendency of blaming the insurance companies. This paper posits that: there are of course some “bad eggs” in the industry who manipulate consumers. However, the paper holds that this unpleasant quagmire is often due to lack of understanding of the terms of insurance contracts in general and consumer apathy in particular. The essence of this study is to re-iterate the need to communicate the rules of the insurance game, thereby minimizing some of the misunderstanding and problems faced by consumers.

  9. 7 CFR 457.171 - Cabbage crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    .... 1. Definitions Cabbage. Plants of the family Brassicaceae and the genus Brassica, grown for their compact heads and used for human consumption. Crop Year. In lieu of the definition contained in section 1... to the definition contained in section 1 of the Basic Provisions, cabbage plants and seeds must...

  10. 78 FR 49724 - Notice To Reopen Comment Period for Federal Crop Insurance Program Delivery Cost Survey and...

    Science.gov (United States)

    2013-08-15

    ... . Follow the instructions for submitting comments. Mail: Stan Harkey, Product Analysis & Accounting... business operations model in selling and servicing the Federal crop insurance, agent compensation, expense... understand the expenses AIPs incur in delivering the Federal crop insurance, their general practices in...

  11. Accounting for short samples and heterogeneous experience in rating crop insurance

    Science.gov (United States)

    Julia I. Borman; Barry K. Goodwin; Keith H. Cobel; Thomas O. Knight; Rod. Rejesus

    2013-01-01

    The purpose of this paper is to be an academic inquiry into rating issues confronted by the US Federal Crop Insurance program stemming from changes in participation rates as well as the weighting of data to reflect longer-run weather patterns.

  12. 7 CFR 457.106 - Texas citrus tree crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... have normal growth and vigor and recognized by the Cooperative State Research, Education, and Extension... two or more crops are planted in any form of alternating or mixed pattern. Irrigated practice—A method by which the normal growth and vigor of the insured trees is maintained by artificially applying...

  13. 7 CFR 457.128 - Guaranteed production plan of fresh market tomato crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... the insured crop directly to consumers without the intervention of an intermediary such as a... Special Provisions. The price election you choose for each type must have the same percentage relationship...: (A) Grown fresh market tomatoes for commercial sales; or (B) Participated in the management of a...

  14. 7 CFR 457.121 - Arizona-California citrus crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... quarantine, boycott, or refusal of any person to accept production. 10. Duties in the Event of Damage or Loss... insured acreage that you intend to abandon or no longer care for, if you and we agree on the appraised... agree with our appraisal, we may defer the claim only if you agree to continue to care for the crop. We...

  15. 7 CFR 2.44 - Administrator, Risk Management Agency and Manager, Federal Crop Insurance Corporation.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Administrator, Risk Management Agency and Manager... Secretary for Farm and Foreign Agricultural Services to the Administrator, Risk Management Agency, and... for the transaction of the business of the Federal Crop Insurance Corporation and the Risk Management...

  16. About Sanctions and the Hybrid Nature of Modern Insurance Contract Law

    NARCIS (Netherlands)

    H. Cousy (Herman)

    2013-01-01

    markdownabstract__Abstract__ Traditionally, insurance contract law was characterised by radical punitive sanctions, governed by an 'all-or-nothing' logic. This logic has changed as a result of an incorporation of a consumerist approach: more and more, punitive sanctions, have been replaced by

  17. Acceptance of selective contracting: the role of trust in the health insurer.

    NARCIS (Netherlands)

    Bes, R.E.; Wendel, S.; Curfs, E.C.; Groenewegen, P.P.; Jong, J.D. de

    2013-01-01

    Background: In a demand oriented health care system based on managed competition, health insurers have incentives to become prudent buyers of care on behalf of their enrolees. They are allowed to selectively contract care providers. This is supposed to stimulate competition between care providers

  18. Acceptance of selective contracting : The role of trust in the health insurer

    NARCIS (Netherlands)

    Bes, R.E.; Wendel, S.; Curfs, E.C.; Groenewegen, P.P.; de Jong, J.D

    2013-01-01

    Background In a demand oriented health care system based on managed competition, health insurers have incentives to become prudent buyers of care on behalf of their enrolees. They are allowed to selectively contract care providers. This is supposed to stimulate competition between care providers and

  19. 78 FR 53370 - Common Crop Insurance Regulations; Forage Seed Crop Provisions

    Science.gov (United States)

    2013-08-29

    ... contract acceptance caused by failure to follow proper isolation requirements or inadequate weed control... acceptance due to failure to follow all other certification or contract requirements, as determined by us... effect. The provisions of this rule will preempt State and local laws to the extent such State and local...

  20. The Effect of Crop Insurance on Technical Efficiency of Wheat Farmers in Kermanshah Province: A Corrected Ordinary Least Square Approach

    Science.gov (United States)

    Agahi, Hossein; Zarafshani, Kiumars; Behjat, Amir-Mohsen

    The purpose of this study was to describe the effect of crop insurance on agricultural production among dry wheat farmers in Kermanshah province. The population of this study consisted of dry wheat farmers. Data used in this study was collected using stratified multi-stage cluster sampling method and face to face interview with 251 farmers in three different climate regions: tropical, temperate and cold during 2003-2004 crop years. The procedures used for determining farmers' technical efficiency was Corrected Ordinary Least Square (COLS). Findings revealed that crop insurance has positive effect on temperate and tropical regions. However, the production difference between insured and uninsured farmers in cold region was non-significant. It is therefore concluded that technical efficiency of agricultural production in Kermanshah province is a function of crop insurance as well as other variables such as crop management practices, personal characteristics and fair distribution of agricultural inputs.

  1. Managing water utility financial risks through third-party index insurance contracts

    Science.gov (United States)

    Zeff, Harrison B.; Characklis, Gregory W.

    2013-08-01

    As developing new supply capacity has become increasingly expensive and difficult to permit (i.e., regulatory approval), utilities have become more reliant on temporary demand management programs, such as outdoor water use restrictions, for ensuring reliability during drought. However, a significant fraction of water utility income is often derived from the volumetric sale of water, and such restrictions can lead to substantial revenue losses. Given that many utilities set prices at levels commensurate with recovering costs, these revenue losses can leave them financially vulnerable to budgetary shortfalls. This work explores approaches for mitigating drought-related revenue losses through the use of third-party financial insurance contracts based on streamflow indices. Two different types of contracts are developed, and their efficacy is compared against two more traditional forms of financial hedging used by water utilities: Drought surcharges and contingency funds (i.e., self-insurance). Strategies involving each of these approaches, as well as their use in combination, are applied under conditions facing the water utility serving Durham, North Carolina. A multireservoir model provides information on the scale and timing of droughts, and the financial effects of these events are simulated using detailed data derived from utility billing records. Results suggest that third-party index insurance contracts, either independently or in combination with more traditional hedging tools, can provide an effective means of reducing a utility's financial vulnerability to drought.

  2. Modeling & Analysisng of Economic Behaviour of Insurance Acceptance of Wheat crop by using of Thinking System Approach

    Directory of Open Access Journals (Sweden)

    hamid balali

    2014-10-01

    Full Text Available Unsustainability and precarious conditions of agricultural production have caused this sector be associated with risk . Crops insurance is efficient tool for controlling and reducing production and market risk and stabilizing farmers' income. In this study, the thinking system approach by using of I Think software is used for analyzing and modeling of the effects of different alternatives of policies on wheat insurance acceptance. The results show that the decision making process of insurance acceptance is function of some variables including of probability of brooz khesarat, amount of brooz khesarat, share of farmer’s insurance payment, gross return of fermers and maximum tahood of bimegar payments. Also, by increasing of the probability of brooz khesarat the number of insurance acceptance will increaseal production have caused this sector be associated with risk . Crops insurance is efficient tool for controlling and reducing production and market risk and stabilizing farmers' income. In .

  3. Assessing Climate Risk on Agricultural Production: Insights Using Retrospective Analysis of Crop Insurance and Climatic Trends

    Science.gov (United States)

    Reyes, J. J.; Elias, E.; Eischens, A.; Shilts, M.; Rango, A.; Steele, R.

    2017-12-01

    The collaborative synthesis of existing datasets, such as long-term climate observations and farmers' crop insurance payments, can increase their overall collective value and societal application. The U.S. Department of Agriculture (USDA) Climate Hubs were created to develop and deliver science-based information and technologies to agricultural and natural resource managers to enable climate-informed decision-making. As part of this mission, Hubs work across USDA and other climate service agencies to synthesize existing information. The USDA Risk Management Agency (RMA) is responsible for overseeing the Federal crop insurance program which currently insures over $100 billion in crops annually. RMA hosts data describing the cause for loss (e.g. drought, wind, irrigation failure) and indemnity amount (i.e. total cost of loss) at multiple spatio-temporal scales (i.e. state, county, year, month). The objective of this paper is to link climate information with indemnities, and their associated cause of loss, to assess climate risk on agricultural production and provide regionally-relevant information to stakeholders to promote resilient working landscapes. We performed a retrospective trend analysis at the state-level for the American Southwest (SW). First, we assessed indemnity-only trends by cause of loss and crop type at varying temporal scales. Historical monthly weather data (i.e. precipitation and temperature) and long-term drought indices (e.g. Palmer Drought Severity Index) were then linked with indemnities and grouped by different causes of loss. Climatological ranks were used to integrate historical comparative intensity of acute and long-term climatic events. Heat and drought as causes of loss were most correlated with temperature and drought indicators, respectively. Across all SW states increasing indemnities were correlated with warmer conditions. Multiple statistical trend analyses suggest a framework is necessary to appropriately measure the biophysical

  4. 26 CFR 301.6332-2 - Surrender of property subject to levy in the case of life insurance and endowment contracts.

    Science.gov (United States)

    2010-04-01

    ... case of life insurance and endowment contracts. 301.6332-2 Section 301.6332-2 Internal Revenue INTERNAL... the case of life insurance and endowment contracts. (a) In general. This section provides special rules relating to the surrender of property subject to levy in the case of life insurance and endowment...

  5. CONSIDERATIONS SUR LA CESSATION DU CONTRAT D'ASSURANCE PAR DENONCIATION (CONSIDERATIONS ON THE TERMINATION OF THE INSURANCE CONTRACT BY DENUNCIATION

    Directory of Open Access Journals (Sweden)

    Veronica Stoica

    2016-11-01

    Full Text Available This study addresses the issue of termination of insurance contracts by unilateral denunciation in accordance with Article 2209 of the Civil Code. Distinguishing features of this unusual or specific type of insurance contract are highlighted, together with its differences from the unilateral denunciation of the co ntract provided in the common law. Simultaneously, we aim at analyzing the prerequisites for making unilateral denunciation of an insurance contract, the legal effect of the denunciation throughout the notice period, as well as the effects of the insurance contract termination as a result of its denunciation.

  6. [Health insurance discount contracts: problems and risks for the general practitioner in the medical care of patients with chronic illness].

    Science.gov (United States)

    Leutgeb, R; Mahler, C; Laux, G; Weschnetz, Artenetz; Szecsenyi, J

    2009-01-01

    The German federal Health Insurance law to strengthen competition between the pharmaceutical companies commits pharmacies to hand out drugs from discount contract drug suppliers of a patient's health insurance company. Thus patients are confronted with constantly changing drug packets. This study aimed at exploring whether patients have been properly informed about the new discount contracts and if they have experienced changes and problems in their long- term medications. Between May and June 2008 male and female patients older than 50 years who had a statutory health insurance and had been diagnosed with coronary heart disease for at least one year answered a standardized questionnaire filled in by doctors' assistants or general practitioners in the doctors' network "Weschnitztal". Of the 188 patients participated in this study 63,8% were informed about health insurance discount contracts. 31,3% of the patients reported that a positive effect due to the discount contracts was that they were discharged from paying the drug prescription fee, 22,2% mentioned that cost saving for the health insurance could also be positive. 120 patients (63,8%) knew that the names of their long-term drugs could change.101 of the questioned patients (53,7%) identified a change in their long-term drugs, 51,5% felt insecure about the permanent changes. 21,7% experienced adverse e effects due to the new drugs. 19% of the patients had serious problems regarding medication intake. This study demonstrates that the information which patients have on the new health insurance law is not adequate enough. Many of them felt insecure because of the changes of long-term medications. One fifth of the patients reported errors in their drug intake or their confusion about their drugs. There is a high risk that these circumstances may trigger further diseases or complications. The cost savings as intended by the health insurance companies may therefore not be achieved by discount contracts.

  7. Subverting Risk Attachment as Consideration for Insurance Contracts: Kansas City College of Osteopathic Medicine v. Employers' Surplus Lines Insurance Co.

    Science.gov (United States)

    Sweeney, Patricia J.

    1980-01-01

    Legal implications and court rulings are reviewed for a case in which a medical college requested a premium refund and cancellation of the bond. It is concluded that the court decision in favor of the insurance company was inappropriate and tends to undermine insurance law. (Journal availibility: Boston U. School of Law, Boston, MA 02215) (MSE)

  8. 26 CFR 1.264-4 - Other life insurance, endowment, or annuity contracts.

    Science.gov (United States)

    2010-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Items Not Deductible § 1.264-4 Other life insurance... insurer, insured, or any other person (other than by gift, bequest, or inheritance, or in a transaction to...

  9. “An Analysis of the Farmers’ Community Perception and Awareness About Crop Insurance as a Risk Coping Strategy”: A case from Pakistan

    Directory of Open Access Journals (Sweden)

    Sidra Ghazanfar

    2014-07-01

    Full Text Available The purpose of this study was to assess the awareness and perception of farmers of Pakistan about the crop insurance. This study was conducted in two tehsils of RajanPur district of Punjab province of Pakistan. Using various statistical tools like arithmetic mean, standard deviation, counting, percentage and analysis of variance, the collected data was analyzed using SPSS. A five-point Likert scale was also used to measure different variables. The findings revealed that majority of the respondents i.e. 64.17% respondents were aware with the term “crop insurance” while the understanding level with crop insurance varied among those who had general awareness about crop insurance i.e. only 29.87 % respondents among those who were aware claimed that they understand well about crop insurance. The major sources of awareness about crop insurance were found to be friends/coworkers and financial institutes. Climatic risk and crop diseases were declared as the most important risks faced by respondents in the study area. There were found considerable misperceptions about crop insurance among farmers i.e. majority of the farmers declared the crop insurance as a scheme which does not compensate their losses as it should be and as well as a kind of a tax which can reduce their income as well as they believed that it is only designed for a specific group of farmers i.e. large scale farmers. Farmers believed that a crop insurance plan with low premium and offering maximum compensation against losses can be acceptable to them. Using ANOVA and CHI SQUARE test, it was found that education and landholdings were significant with the level of awareness while age was not found to be significant with awareness. Before launching crop insurance plans in Pakistan and to make such scheme more successful, government institutes related to agriculture can create awareness among farmers about crop insurance and take steps to reduce the misunderstandings and misperception

  10. CHARACTERISTICS OF THE CARGO INSURANCE CONTRACT IN CASE OF INTERNATIONAL LAND TRANSPORT

    Directory of Open Access Journals (Sweden)

    Dănilă Ștefan MATEI

    2017-05-01

    Full Text Available Cargo international transport is an engine for the development of the economic relations between states involving cross-border movement of goods through the crossing of at least one border of a state (international transport or by crossing at least two border crossing points, in which case we are in the presence of an international cargo transit. During the transit the goods transported may be subject to an insurance. The object of the cargo insurance is, thus, represented by the goods, the items expressly listed in the insurance policy, within the territorial limits specified in the insurance policy, both during the transport and during the storage, in the latter case, at the express request of the insured and with the acceptance of the insurer. This paper analyzes the characteristics of the cargo insurance aiming to present the theoretical and practical aspects of interest with regard to the cargo insurance concluded in case of an international land freight transport.

  11. Health Insurance

    Science.gov (United States)

    Health insurance helps protect you from high medical care costs. It is a contract between you and ... Many people in the United States get a health insurance policy through their employers. In most cases, ...

  12. Attracting Health Insurance Buyers through Selective Contracting: Results of a Discrete-Choice Experiment among Users of Hospital Services in the Netherlands

    Directory of Open Access Journals (Sweden)

    Evelien Bergrath

    2014-04-01

    Full Text Available In 2006, the Netherlands commenced market based reforms in its health care system. The reforms included selective contracting of health care providers by health insurers. This paper focuses on how health insurers may increase their market share on the health insurance market through selective contracting of health care providers. Selective contracting is studied by eliciting the preferences of health care consumers for attributes of health care services that an insurer could negotiate on behalf of its clients with health care providers. Selective contracting may provide incentives for health care providers to deliver the quality that consumers need and demand. Selective contracting also enables health insurers to steer individual patients towards selected health care providers. We used a stated preference technique known as a discrete choice experiment to collect and analyze the data. Results indicate that consumers care about both costs and quality of care, with healthy consumers placing greater emphasis on costs and consumers with poorer health placing greater emphasis on quality of care. It is possible for an insurer to satisfy both of these criteria by selective contracting health care providers who consequently purchase health care that is both efficient and of good quality.

  13. Trends in family labour, hired labour and contract work on French and Swiss crop farms: The role of agricultural policies

    OpenAIRE

    Dupraz, Pierre; Latruffe, Laure; Mann, Stefan

    2010-01-01

    The objective of this article is to analyse the trends in on-farm labour use, including own family labour, hired labour and contract work, and to assess the factors driving their evolution in France and in Switzerland during 1990-2007. A particular attention is given to agricultural policies, namely the level and type of support. Results indicate that crop area payments discourage the different labour demands in both countries, while environment and investment payments favour contract and hir...

  14. 7 CFR 457.161 - Canola and rapeseed crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    .... Definitions Canola. A crop of the genus Brassica as defined in accordance with the Official United States... adjustment in accordance with section 12 of these crop provisions. Rapeseed. A crop of the genus Brassica... the Food and Drug Administration or other public health organizations of the United States as being...

  15. Index-based Crop Insurance for Climate Adaptation in the Developing World

    Science.gov (United States)

    Brown, M. E.; Osgood, D. E.; Carriquiry, M. A.

    2011-12-01

    Weather has always presented a challenge to small-scale farmers, particularly in regions where poverty and lack of infrastructure has restricted the development of financial instruments to limit risk. New 'index' insurance innovations in agriculture are beginning to enable even the poorest farmers to unlock major productivity gains (e.g. insuring loans for improved seeds). Although index insurance has the potential to greatly improve productivity in developing country agriculture, the principal technical challenge to up-scaling this product is "data poverty," the absence of weather data in low-income areas needed to design robust and affordable insurance products. Earth science, particularly remote sensing, has the potential to ameliorate data poverty. However, raw use of earth science model output leads to non-optimal indexes and many obstacles remain to transform earth science products into insurance solutions. Estimation uncertainty, limited availability of consistent time series, and difficulties of predicting loses based on remote observations are reviewed in this article. The importance of multidisciplinary approaches addressing the needs of stakeholders in simple to understand indexes is highlighted. The successful use of Earth science data to support the index insurance industry in currently poor and isolated communities in the developing world would transform the ability of small farmers to increase yields, household incomes and regional economies, if the growing gap between earth science and index insurance can be closed.

  16. 26 CFR 1.101-1 - Exclusion from gross income of proceeds of life insurance contracts payable by reason of death.

    Science.gov (United States)

    2010-04-01

    ... the son of A and B. C receives the proceeds of $1,000 upon the death of A. The amount which C can... insurance contracts payable by reason of death. 1.101-1 Section 1.101-1 Internal Revenue INTERNAL REVENUE... contracts payable by reason of death. (a)(1) In general. Section 101(a)(1) states the general rule that the...

  17. Resilience and Sustainability: The Effectiveness of the Insurance Contracts and their Reflections on Environmental Accountability

    Directory of Open Access Journals (Sweden)

    Ana Cláudia Corrêa Zuin Mattos do Amaral

    2016-06-01

    Full Text Available Analyzes the viability of hiring environmental insurance as an effective alternative to the protection of the Environment. Therefore, it relies on historical study of the dynamics of securitarian policies of environmental relevance in comparative experience, notably its development in the United States and European countries. It continues on the analysis of the phenomenon in Brazil, setting the primary species of environmental insurance coverage, discussing the reasons for its popularity and the main practical obstacles to its expansion in the daily business, in addition to showing, in parallel, the impact of business practice in environmental protection.

  18. Index-Based Insurance Contracts to FOSTER Cooperation Between Agents Exposed to Uncorrelated Drought and Flooding Risks

    Science.gov (United States)

    Denaro, S.; Giuliani, M.; Castelletti, A.; Characklis, G. W.

    2017-12-01

    Worldwide, conflict over shared water resources is exacerbated by population growth, economic development and climate change. In multi-purpose water systems, stakeholders can face higher financial risks as a consequence of increased hydrological uncertainty and recurrent extreme events. In this context, a financial hedging tool able to bundle together the uncorrelated risks faced by different stakeholders may be an efficient solution to both foster cooperation and manage the financial losses associated with extreme events. In this work we explore the potential of risk diversification strategies involving index-based insurance joint contract solutions, to manage financial risk in a multi-purpose water system prone to both drought and flood risk. Risk diversification can allow for reduced insurance premiums in situations in which the bundled risks are entirely, or mostly, uncorrelated. Jointly covering flood and drought related risks from competing users in the same geographic area represents a novel application. The approach is demonstrated using a case study on Lake Maggiore, a regulated lake whose management is highly controversial due to numerous and competing human activities. In particular we focus on the ongoing conflict among the lakeshore population, affected by flood risk, and the downstream farmers' districts, facing drought related losses. Results are promising and indicate that bundling uncorrelated risks from competing users is beneficial to both promoting insurance premium affordability and facilitating collaboration schemes at the catchment scale.

  19. 7 CFR 457.148 - Fresh market pepper crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... of live plants per acre prior to the occurrence of an insurable cause of loss. Planted acreage—In... depression—A system identified by the U.S. Weather Service as a tropical depression, and for the period of... transplanting or replanting with transplants. 11. Causes of Loss (a) In accordance with the provisions of...

  20. 7 CFR 457.112 - Hybrid sorghum seed crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... total compensation specified in the hybrid sorghum seed processor contract. If your hybrid sorghum seed... Testing Seeds” of the Association of Official Seed Analysts. Commercial hybrid sorghum seed. The offspring...

  1. COMPARATIVE ANALYSIS OF THE INSURANCE CONTRACT RULES AND REGULATIONS FROM THE VIEW OF THE PROVISIONS STIPULATED IN THE NEW CIVIL CODE

    Directory of Open Access Journals (Sweden)

    OANA RĂVAŞ

    2011-01-01

    Full Text Available The insurance contract is an important factor of the present economic life. It has been regulated until now by many laws, in order to establish certain rules to govern this important area, such as the insurance market, which is continuously changing. The new Romanian Civil Code regulates this subject for the first time, including many rules, which currently were regulated only by laws.

  2. Integrating interannual climate variability forecasts into weather-indexed crop insurance. The case of Malawi, Kenya and Tanzania

    Science.gov (United States)

    Vicarelli, M.; Giannini, A.; Osgood, D.

    2009-12-01

    In this study we explore the potential for re-insurance schemes built on regional climatic forecasts. We focus on micro-insurance contracts indexed on precipitation in 9 villages in Kenya, Tanzania (Eastern Africa) and Malawi (Southern Africa), and analyze the precipitation patterns and payouts resulting from El Niño Southern Oscillation (ENSO). The inability to manage future climate risk represents a “poverty trap” for several African regions. Weather shocks can potentially destabilize not only household, but also entire countries. Governments in drought-prone countries, donors and relief agencies are becoming aware of the importance to develop an ex-ante risk management framework for weather risk. Joint efforts to develop innovative mechanisms to spread and pool risk such as microinsurance and microcredit are currently being designed in several developing countries. While ENSO is an important component in modulating the rainfall regime in tropical Africa, the micro-insurance experiments currently under development to address drought risk among smallholder farmers in this region do not take into account ENSO monitoring or forecasting yet. ENSO forecasts could be integrated in the contracts and reinsurance schemes could be designed at the continental scale taking advantage of the different impact of ENSO on different regions. ENSO is associated to a bipolar precipitation pattern in Southern and Eastern Africa. La Niña years (i.e. Cold ENSO Episodes) are characterized by dry climate in Eastern Africa and wet climate in Southern Africa. During El Niño (or Warm Episode) the precipitation dipole is inverted, and Eastern Africa experiences increased probability for above normal rainfall (Halpert and Ropelewski, 1992, Journal of Climate). Our study represents the first exercise in trying to include ENSO forecasts in micro weather index insurance contract design. We analyzed the contracts payouts with respect to climate variability. In particular (i) we simulated

  3. Blockchain and Smart Contracts for Insurance: Is the Technology Mature Enough?

    Directory of Open Access Journals (Sweden)

    Valentina Gatteschi

    2018-02-01

    Full Text Available Blockchain is receiving increasing attention from academy and industry, since it is considered a breakthrough technology that could bring huge benefits to many different sectors. In 2017, Gartner positioned blockchain close to the peak of inflated expectations, acknowledging the enthusiasm for this technology that is now largely discussed by media. In this scenario, the risk to adopt it in the wake of enthusiasm, without objectively judging its actual added value is rather high. Insurance is one the sectors that, among others, started to carefully investigate the possibilities of blockchain. For this specific sector, however, the hype cycle shows that the technology is still in the innovation trigger phase, meaning that the spectrum of possible applications has not been fully explored yet. Insurers, as with many other companies not necessarily active only in the financial sector, are currently requested to make a hard decision, that is, whether to adopt blockchain or not, and they will only know if they were right in 3–5 years. The objective of this paper is to support actors involved in this decision process by illustrating what a blockchain is, analyzing its advantages and disadvantages, as well as discussing several use cases taken from the insurance sector, which could easily be extended to other domains.

  4. Trends in family, hired and contract labour use on French and Swiss crop farms: The role of agricultural policies

    OpenAIRE

    Dupraz, Pierre; Latruffe, Laure; Mann, Stefan

    2010-01-01

    The objective of this article is to analyse the trends in on-farm labour use, including own family labour, hired labour and contract work, and to assess the factors driving their evolution in France and in Switzerland during 1990-2007. A particular attention is given to agricultural policies, namely the level and type of support. Results indicate that crop area payments discourage the different labour demands in both countries. No other subsidies have a significant influence on labour use in ...

  5. Opposite effects of 5-HT/AKH and octopamine on the crop contractions in adult Drosophila melanogaster: Evidence of a double brain-gut serotonergic circuitry.

    Directory of Open Access Journals (Sweden)

    Paolo Solari

    Full Text Available This study showed that in adult Drosophila melanogaster, the type of sugar-either present within the crop lumen or in the bathing solution of the crop-had no effect on crop muscle contraction. What is important, however, is the volume within the crop lumen. Electrophysiological recordings demonstrated that exogenous applications of serotonin on crop muscles increases both the amplitude and the frequency of crop contraction rate, while adipokinetic hormone mainly enhances the crop contraction frequency. Conversely, octopamine virtually silenced the overall crop activity. The present study reports for the first time an analysis of serotonin effects along the gut-brain axis in adult D. melanogaster. Injection of serotonin into the brain between the interocellar area shows that brain applications of serotonin decrease the frequency of crop activity. Based on our results, we propose that there are two different, opposite pathways for crop motility control governed by serotonin: excitatory when added in the abdomen (i.e., directly bathing the crop and inhibitory when supplied within the brain (i.e., by injection. Finally, our results point to a double brain-gut serotonergic circuitry suggesting that not only the brain can affect gut functions, but the gut can also affect the central nervous system. On the basis of our results, and data in the literature, a possible mechanism for these two discrete serotonergic functions is suggested.

  6. Competitive bidding for health insurance contracts: lessons from the online HMO auctions.

    Science.gov (United States)

    Gupta, Alok; Parente, Stephen T; Sanyal, Pallab

    2012-12-01

    Healthcare is an important social and economic component of modern society, and the effective use of information technology in this industry is critical to its success. As health insurance premiums continue to rise, competitive bidding may be useful in generating stronger price competition and lower premium costs for employers and possibly, government agencies. In this paper, we assess an endeavor by several Fortune 500 companies to reduce healthcare procurement costs for their employees by having HMOs compete in open electronic auctions. Although the auctions were successful in generating significant cost savings for the companies in the first year, i.e., 1999, they failed to replicate the success and were eventually discontinued after two more years. Over the past decade since the failed auction experiment, effective utilization of information technologies have led to significant advances in the design of complex electronic markets. Using this knowledge, and data from the auctions, we point out several shortcomings of the auction design that, we believe, led to the discontinuation of the market after three years. Based on our analysis, we propose several actionable recommendations that policy makers can use to design a sustainable electronic market for procuring health insurance.

  7. Nuclear Liability and Insurance Protection for Nuclear Transport Accidents Involving Non-Contracting EU States: An assessment

    International Nuclear Information System (INIS)

    Horbach, N. L. J. T.

    2006-01-01

    This paper provides an analysis of the possible complications and consequences with respect to nuclear liability and insurance protection applicable in respect of transport activities resulting in damage suffered and/or accidents occurring in EU States that are not party to the Paris Convention. It looks at the different legal aspects (jurisdiction, applicable law, liability amounts, reciprocity) should the revised Vienna and Paris Convention become applicable in comparison with the unrevised Conventions. Within Europe, a large number of States are party to the 1960 Paris Convention and the 1963 Brussels Supplementary Convention, providing liability and insurance protection, in general, up to a limit of 300 million SDRs (or even higher). In principle, such protection is confined to nuclear incidents occurring and nuclear damage suffered in the territory of Contracting Parties, including, as recommended, the high seas, unless the legislation of the Installation State determines otherwise (Article 2). The geographical scope of application of the Paris Convention would thus vary according to the law of the Installation State. However, some EU States never became party to the Paris Convention, and are not bound by its the liability principles (notably, channelling of liability), such as Austria, Luxembourg and Ireland. Transport accidents involving these countries might therefore result in liability claims outside the treaty liability regime against operators, suppliers, carriers or persons involved and for types of damages different from those currently covered by the Paris Convention (e.g., environmental damage). It is uncertain to what extent liability insurance of the installation operators would provide adequate protection and whether related damage claims can be enforceable. In addition, a number of newly entered EU States are party to the Vienna Convention, which, although bound by liability principles basically similar to those of the Paris Convention, will

  8. Publication Of Administrative Circulars: No. 4 (Rev. 4) – Unemployment Insurance Scheme No. 30 (Rev. 2) – Financial Benefits on Taking Up Appointment and on Termination of Contract

    CERN Multimedia

    HR Department

    2008-01-01

    Administrative Circular No. 4 (Rev. 4) – Unemployment insurance scheme Administrative Circular No. 4 (Rev. 4) – "Unemployment insurance scheme", approved following discussion in the Standing Concertation Committee meetings of 28 August 2007 and 27 February 2008, is now available on the intranet site of the Human Resources Department. It cancels and replaces Administrative Circular No. 4 (Rev. 3) – "Unemployment insurance" of October 1993. Copies will shortly be available in Departmental secretariats. Human Resources Department Tel. 78003 Administrative Circular No. 30 (Rev. 2) – Financial benefits on taking up appointment and termination of contract Administrative Circular No. 30 (Rev. 2) – "Financial benefits on taking up appointment and termination of contract", approved following discussion in the Standing Concertation Committee meetings of 28 August 2007 and 27 February 2008, is now available on the intranet site of the Human Resources De...

  9. Publication Of Administrative Circulars: No. 4 (Rev. 4) – Unemployment Insurance Scheme No. 30 (Rev. 2) – Financial Benefits on Taking Up Appointment and on Termination of Contract

    CERN Multimedia

    HR Department

    2008-01-01

    Administrative Circular No. 4 (Rev. 4) – Unemployment insurance scheme Administrative Circular No. 4 (Rev. 4) – "Unemployment insurance scheme", approved following discussion at the Standing Concertation Committee meetings of 28 August 2007 and 27 February 2008, is now available on the intranet site of the Human Resources Department. It cancels and replaces Administrative Circular No. 4 (Rev. 3) – "Unemployment insurance" of October 1993. Copies will shortly be available in Departmental secretariats. Human Resources Department Tel. 78003 Administrative Circular No. 30 (Rev. 2) – Financial benefits on taking up appointment and termination of contract Administrative Circular No. 30 (Rev. 2) – "Financial benefits on taking up appointment and termination of contract", approved following discussion at the Standing Concertation Committee meetings of 28 August 2007 and 27 February 2008, is now available on the intranet site of the Human Resources De...

  10. INSURANCE INTERMEDIARIES

    Directory of Open Access Journals (Sweden)

    Andreea Stoican

    2013-11-01

    Full Text Available The actual Civil code regulates for the first time in the Romanian legislation the intermediation contract, until its entering into force existing multiple situations that lent themselves to this legal operation, but did not benefit of such particular legal rules. Yet, the case law has shown that the situations that arise in the activity of the legal or natural persons are much more complex, this leading, in time, to the reglementation of such particular rules. Such a case is that found in the matter of insurance contracts, the position of the insurance intermediaries being regulated especially by Law no. 32/2000, according to which they represent the natural or legal persons authorized in the conditions of the above mentioned legal document, that perform intermediation activities in the insurance field, in exchange of a remuneration, as well as the intermediaries from the EU member states that perform such an activity on the Romanian territory, in accordance with the freedom in performing services. Therefore, the present paper aims to analyze the conclusion of such insurance contracts and to underline the particular position of the insurance brokers, having the following structure: 1 Introduction; 2 The reglementation of the intermediation contract/brokerage agreement in the Romanian Law; 3 The importance of the intermediaries in the insurance contracts; 4 The conclusion of the insurance contracts; 5 Conclusions.

  11. Social insurance contributions for the persons employed in Poland and working on the basis of civil law contracts in another EU Member State

    Directory of Open Access Journals (Sweden)

    Dorota Dzienisiuk

    2017-03-01

    Full Text Available Determination of the legislation applicable to the payment of social insurance contributions for the persons employed in Poland and working on the basis of civil law contracts in another EU Member State depends on the correct qualification of the given type of an activity. It can be classified either as an activity of an employed person or as an activity of a self-employed person, taking into consideration Polish rules on overlapping of social insurance titles and the directive to treat all their incomes as if they were received in the Member State concerned.

  12. Contracting

    Science.gov (United States)

    EPA buys many supplies and services to support the agency's mission. Here you'll find out about contracting with the EPA, including: our policies; what we're looking to buy right now; what we've bought recently, and what we're looking to buy in the future.

  13. Inflation Insurance

    OpenAIRE

    Zvi Bodie

    1989-01-01

    A contract to insure $1 against inflation is equivalent to a European call option on the consumer price index. When there is no deductible this call option is equivalent to a forward contract on the CPI. Its price is the difference between the prices of a zero coupon real bond and a zero coupon nominal bond, both free of default risk. Provided that the risk-free real rate of interest is positive, the price of such an inflation insurance policy first rises and then falls with time to maturity....

  14. 16 CFR 700.11 - Written warranty, service contract, and insurance distinguished for purposes of compliance under...

    Science.gov (United States)

    2010-01-01

    ... third-party non-suppliers. (c) A service contract under the Act must meet the definitions of section 101... contract. In addition, other agreements may meet the statutory definitions of either “written warranty” or... agreement obligate a supplier of the consumer product to a written warranty, but merely that it be part of...

  15. Export insurance

    International Nuclear Information System (INIS)

    1981-01-01

    These notes are intended as a general guide for the use of members of the Canadian Nuclear Association who are, or may become, involved in supplying goods or services or contracting/ erecting as part of a contract to supply a nuclear facility to an overseas country. They give information to the type of insurances needed and available, the parties normally responsible for providing the coverages, the intent and operation of the various policies, general methods of charging premiums, and main exclusions

  16. A utility theory approach for insurance pricing

    Directory of Open Access Journals (Sweden)

    Mohsen Gharakhani

    2015-11-01

    Full Text Available Providing insurance contract with “deductible” is beneficial for both insurer and insured. In this paper, we provide a utility modeling approach to handle insurance pricing and evaluate the tradeoff between discount benefit and deductible level. We analyze four different pricing problems of no insurance, full insurance coverage, insurance with β% deductible and insurance with D-dollar deductible based on a given utility function. A numerical example is also used to illustrate some interesting results.

  17. Nuclear insurance

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    The German Nuclear Power Plant Insurance (DKVG) Association was able to increase its net capacity in property insurance to 637 million marks in 1993 (1992: 589 million). The reinsurance capacity of the other pools included, the total amount covered now amounts to 2 billion marks in property incurance and 200 million marks in liability incurance. As in the year before the pool can reckon with a stable gross premium yield around 175 million marks. The revival of the US dollar has played a decisive role in this development. In 1993 in the domestic market, the DKVG offered policies for 22 types of property risk and 43 types to third-party risk, operating with a gross target premium of 65 million marks and 16 million marks, respectively. The DKVG also participated in 540 foreign insurance contracts. (orig./HSCH) [de

  18. 48 CFR 35.013 - Insurance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Insurance. 35.013 Section... CONTRACTING RESEARCH AND DEVELOPMENT CONTRACTING 35.013 Insurance. Nonprofit, educational, or State institutions performing cost-reimbursement contracts often do not carry insurance. They may claim immunity from...

  19. HEALTH INSURANCE

    CERN Multimedia

    2000-01-01

    The CERN-AUSTRIA Agreement, which implemented CERN's health insurance scheme, expired on 31 December 1999.In accordance with CERN's rules, a call for tenders for the management of the health insurance scheme was issued and the contract was once again awarded to AUSTRIA. In June 1999, the Finance Committee thus authorised the Management to conclude a new contract with AUSTRIA, which came into force on 1st January 2000.Continuity is thus assured on favourable conditions and the transition from one contract to the other will entail no substantial changes in the system for those insured at CERN except for a few minor and purely formal amendmentsWHAT REMAINS UNCHANGEDThe list of benefits, i.e. the 'cover' provided by the system, is not changed;Neither is the reimbursement procedure.AUSTRIA's office at CERN and its opening hours as well as its city headquarters remain the same. The envelopes containing requests for reimbursement have had to be sent (since the end of 1998) to :Rue des Eaux-Vives 94Case postale 64021...

  20. 48 CFR 31.205-19 - Insurance and indemnification.

    Science.gov (United States)

    2010-10-01

    ... GENERAL CONTRACTING REQUIREMENTS CONTRACT COST PRINCIPLES AND PROCEDURES Contracts With Commercial... business. (b) For purposes of applying the provisions of this subsection, the Government considers...-insurance charge plus insurance administration expenses in excess of the cost of comparable purchased...

  1. VA Dental Insurance Program. Final rule.

    Science.gov (United States)

    2013-05-29

    The Department of Veterans Affairs (VA) amends its regulations to establish rules and procedures for the VA Dental Insurance Program (VADIP), a pilot program that offers premium-based dental insurance to enrolled veterans and certain survivors and dependents of veterans. Under the pilot program, VA will contract with a private insurer, through the Federal contracting process, to offer dental insurance to eligible individuals. The private insurer will be responsible for the administration of the dental insurance plan. VA will form the contract and verify the eligibility of individuals who apply for the private dental insurance.

  2. HEALTH INSURANCE

    CERN Multimedia

    Division HR

    2000-01-01

    Change of name for AUSTRIA As of October 1, the AUSTRIA Assurances S.A. company will change its name to: UNIQA Assurances S.A. It inherits the same name as its parent Austrian company, which adopted it towards the end of 1999. This change has no effect on the contract which binds it to CERN for the administration of our Health Insurance Scheme. New insurance cards will be sent to you by UNIQA and the printed forms and envelopes will gradually be updated with the new name. Postal and phone addresses remain unaffected by the change. You should address your postal mail to: UNIQA Assurances rue des Eaux Vives 94 case postale 6402 1211 Genève 6 You may telephone your usual contact persons at the same numbers as before and send e-mails to the UNIQA office at CERN at: UNIQA.Assurances@cern.ch

  3. 46 CFR Sec. 13 - Insurance.

    Science.gov (United States)

    2010-10-01

    ... REPAIRS UNDER NATIONAL SHIPPING AUTHORITY MASTER LUMP SUM REPAIR CONTRACT-NSA-LUMPSUMREP Sec. 13 Insurance. Article 9 of the NSA-LUMPSUMREP Contract sets forth the Contractor's liabilities and obligations with... 46 Shipping 8 2010-10-01 2010-10-01 false Insurance. Sec. 13 Section 13 Shipping MARITIME...

  4. 26 CFR 20.2031-8 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

    Science.gov (United States)

    2010-04-01

    ..., the value may be approximated by adding to the interpolated terminal reserve at the date of the... value of the insurance policy at the date of Y's death is the amount which the company would charge for... Value of the insurance policy 15,384.33 (b) Valuation of shares in an open-end investment company. (1...

  5. 24 CFR 203.443 - Insurance premium.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premium. 203.443 Section... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE FAMILY MORTGAGE INSURANCE Contract Rights and Obligations Rehabilitation Loans § 203.443 Insurance...

  6. About Insurance.

    Science.gov (United States)

    Pieslak, Raymond F.

    The student manual for high school level special needs students was prepared to acquaint deaf students with the various types of insurance protection that will be available to them in their future life. Seven units covering the topics of what insurance is, automobile insurance, life insurance, health insurance, social security, homeowner's…

  7. Life insurance

    OpenAIRE

    ČERNÁ, Lenka

    2009-01-01

    Bachelor's thesis deals with the life insurance market in the Czech Republic. I compared the different insurance products life insurance among themselves. And these products is the formula published in the scientific literature.

  8. Weather based risks and insurances for agricultural production

    Science.gov (United States)

    Gobin, Anne

    2015-04-01

    Extreme weather events such as frost, drought, heat waves and rain storms can have devastating effects on cropping systems. According to both the agriculture and finance sectors, a risk assessment of extreme weather events and their impact on cropping systems is needed. The principle of return periods or frequencies of natural hazards is adopted in many countries as the basis of eligibility for the compensation of associated losses. For adequate risk management and eligibility, hazard maps for events with a 20-year return period are often used. Damages due to extreme events are strongly dependent on crop type, crop stage, soil type and soil conditions. The impact of extreme weather events particularly during the sensitive periods of the farming calendar therefore requires a modelling approach to capture the mixture of non-linear interactions between the crop, its environment and the occurrence of the meteorological event in the farming calendar. Physically based crop models such as REGCROP (Gobin, 2010) assist in understanding the links between different factors causing crop damage. Subsequent examination of the frequency, magnitude and impacts of frost, drought, heat stress and soil moisture stress in relation to the cropping season and crop sensitive stages allows for risk profiles to be confronted with yields, yield losses and insurance claims. The methodology is demonstrated for arable food crops, bio-energy crops and fruit. The perspective of rising risk-exposure is exacerbated further by limited aid received for agricultural damage, an overall reduction of direct income support to farmers and projected intensification of weather extremes with climate change. Though average yields have risen continuously due to technological advances, there is no evidence that relative tolerance to adverse weather events has improved. The research is funded by the Belgian Science Policy Organisation (Belspo) under contract nr SD/RI/03A.

  9. 7 CFR 400.652 - Insurance availability.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Insurance availability. 400.652 Section 400.652 Agriculture Regulations of the Department of Agriculture (Continued) FEDERAL CROP INSURANCE CORPORATION... Implementation § 400.652 Insurance availability. (a) If sufficient actuarial data are available, FCIC will offer...

  10. ECONOMIC EVALUATION OF BT CORN REFUGE INSURANCE

    OpenAIRE

    Mitchell, Paul D.; Hurley, Terrance M.; Hellmich, Richard L.

    2000-01-01

    The EPA has imposed mandatory refuge requirements for Bt crops to prolong the efficacy of Bt. Growers have no economic incentive to plant the required refuge because refuge crops are on average less productive and more risky. This paper evaluates refuge insurance--insurance that pays indemnities for yield losses on refuge due to insect damage--as a tool to increase grower compliance incentives. We determine actuarially fair insurance premiums, then evaluate the feasibility of private provisio...

  11. Insurance and fuel transport

    International Nuclear Information System (INIS)

    Rocha, L.M.G. da.

    1979-01-01

    The fuel transport insurance in Brazil is analysed. There are some special and additional clauses that can be included or excluded, according to the contracting parts and because of some rules, conventions and treaties they are obliged to insert certain conditions, in view of the nature of the transported material and the risks resulting from it. (A.L.S.L.) [pt

  12. 48 CFR 837.403 - Contract clause.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contract clause. 837.403... OF CONTRACTING SERVICE CONTRACTING Nonpersonal Health Care Services 837.403 Contract clause. The contracting officer shall insert the clause at 852.237-7, Indemnification and medical liability insurance, in...

  13. Applying weather index insurance to agricultural pest and disease risks

    NARCIS (Netherlands)

    Norton, Michael; Sprundel, van Gert Jan; Turvey, Calum G.; Meuwissen, Miranda P.M.

    2016-01-01

    In this paper, we explore the application of weather index insurance to plant pest and disease management strategies using two distinct models: (1) insuring crop loss due to disease incidence (“Crop Insurance”) and (2) insuring the use of pesticides (“Pesticide Insurance”). We find that despite

  14. 7 CFR 762.123 - Insurance and farm inspection requirements.

    Science.gov (United States)

    2010-01-01

    ... requirements. (a) Insurance. (1) Lenders must require borrowers to maintain adequate property, public liability, and crop insurance to protect the lender and Government's interests. (2) By loan closing, applicants must either: (i) Obtain at least the catastrophic risk protection (CAT) level of crop insurance...

  15. 48 CFR 970.2803 - Insurance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Insurance. 970.2803 Section 970.2803 Federal Acquisition Regulations System DEPARTMENT OF ENERGY AGENCY SUPPLEMENTARY REGULATIONS DOE MANAGEMENT AND OPERATING CONTRACTS Bonds and Insurance 970.2803 Insurance. ...

  16. Group life insurance

    CERN Multimedia

    2013-01-01

    The CERN Administration wishes to inform staff members and fellows having taken out optional life insurance under the group contract signed by CERN that the following changes to the rules and regulations entered into force on 1 January 2013:   The maximum age for an active member has been extended from 65 to 67 years. The beneficiary clause now allows insured persons to designate one or more persons of their choice to be their beneficiary(-ies), either at the time of taking out the insurance or at a later date, in which case the membership/modification form must be updated accordingly. Beneficiaries must be clearly identified (name, first name, date of birth, address).   The membership/modification form is available on the FP website: http://fp.web.cern.ch/helvetia-life-insurance For further information, please contact: Valentina Clavel (Tel. 73904) Peggy Pithioud (Tel. 72736)

  17. Basic characteristics of livestock insurance in Serbia: With reference to the some elements of this type of insurance in some non-European and European countries

    OpenAIRE

    Čolović Vladimir; Petrović Zdravko; Mrkšić Dragan

    2016-01-01

    The livestock insurance is a part of agricultural insurance. This type of insurance is also part of a non-life insurance. The livestock insurance is undeveloped in Serbia. In general, a very small number of farms (5% of total) decided for the conclusion of livestock insurance contracts. This paper analyzes the basic characteristics of this type of insurance, and the authors pay attention to the implementation of this type of insurance in other countries. Special attention is paid to the lives...

  18. 26 CFR 25.2512-6 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

    Science.gov (United States)

    2010-04-01

    ... payments are to be made, the value may be approximated by adding to the interpolated terminal reserve at...) makes a gift of the contract. The value of the gift is the amount which the company would charge for a...) The fair market value of a share in an open-end investment company (commonly known as a “mutual fund...

  19. Clinical trial insurance in Serbia

    Directory of Open Access Journals (Sweden)

    Žagar Zlatko A.

    2015-01-01

    Full Text Available Prior the commencement of the clinical trial in Serbia the Sponsor is obliged to provide the insurance policy covering the patient's bodily injury and damaged health caused by the clinical trial. According to provisions of Serbian Insurance law insurance polices have to be issued by the insurance companies established in Serbia. Every insurance policy not issued by the insurance company established in Serbia shall be deemed as null and void. The only expectance, is when the foreign clinical trial liability policy is stipulated that the insurance contract acknowledges the jurisdiction of Serbian domestic courts and other Serbian authorities to decide on damage claims (that never happened in Serbian practice. The Sponsor will fulfill this obligation stipulated in Serbian law when provides the Clinical Trial Liability policy issued by the Serbian insurance company. Nowadays, few of Serbian insurance companies are issuing such polices. Under the clinical trial liability insurance cover the insured's are: Sponsor, Medical Centers in Serbia performing or controlling the clinical trial, Principal Investigators and their assistant staff performing or controlling the clinical trial. The beneficiaries of the insurance cover are patients and/or members of their families - inheritresses. The insurance company will indemnify the beneficiary mentioned in the policy when the insured event occurred i.e. when occurred bodily injury, psychic disease and alienation, psychic damages, illnesses and deaths caused by the clinical trial. The amount of indemnity by the insurance company to the beneficiaries is limited by the amount of sum insured per occurrence and/or by the total amount of the sum insured for the total period of the insurance cover. According to case-law in Serbia the total sum insured between EUR 500.000 and EUR 1.000.000 is considered as sufficient so far to indemnify the patients in case of the insured event. If an insurance event occurs the

  20. Group Life Insurance

    CERN Multimedia

    2013-01-01

    The CERN Administration would like to remind you that staff members and fellows have the possibility to take out a life insurance contract on favourable terms through a Group Life Insurance.   This insurance is provided by the company Helvetia and is available to you on a voluntary basis. The premium, which varies depending on the age and gender of the person insured, is calculated on the basis of the amount of the death benefit chosen by the staff member/fellow and can be purchased in slices of 10,000 CHF.    The contract normally ends at the retirement age (65/67 years) or when the staff member/fellow leaves the Organization. The premium is deducted monthly from the payroll.   Upon retirement, the staff member can opt to maintain his membership under certain conditions.   More information about Group Life Insurance can be found at: Regulations (in French) Table of premiums The Pension Fund Benefit Service &...

  1. Risk aversion influence on insurance market

    OpenAIRE

    Raduna, Daniela Viviana; Roman, Mihai Daniel

    2011-01-01

    Human behavior, rational or irrational one, influences one of the most complex markets worldwide: the insurance market. In most situations, insurance markets are not competitive and risk neutral insurers negotiate under asymmetric information with actors who exhibit risk aversion. In this paper we develop a game theory model that analyzes the negotiation of an insurance contract under risk aversion conditions (in static and dynamic approach). Risk aversion influence was introduced in the mode...

  2. Sum Insured Determination for Cereal, Citrus and Vineyards in the Spanish Agricultural Insurance System

    Science.gov (United States)

    Lozano, C.; Tarquis, A. M.; Gómez-Barona, J. A.

    2012-04-01

    In general, insurance is a form of risk management used to hedge against a contingent loss. The conventional definition is the equitable transfer of a risk of loss from one entity to another in exchange for a premium or a guaranteed and quantifiable small loss to prevent a large and possibly devastating loss being agricultural insurance a special line of property insurance. Agriculture insurance, as actually are designed in the Spanish scenario, were established in 1978. At the macroeconomic insurance studies scale, it is necessary to know a basic element for the insurance actuarial components: sum insured. When a new risk assessment has to be evaluated in the insurance framework, it is essential to determinate venture capital in the total Spanish agriculture. In this study, three different crops (cereal, citrus and vineyards) cases are showed to determinate sum insured as they are representative of the cases found in the Spanish agriculture. Crop sum insured is calculated by the product of crop surface, unit surface production and crop price insured. In the cereal case, winter as spring cereal sowing, represents the highest Spanish crop surface, above to 6 millions of hectares (ha). Meanwhile, the four citrus species (oranges, mandarins, lemons and grapefruits) occupied an extension just over 275.000 ha. On the other hand, vineyard target to wine process shows almost one million of ha in Spain. A new method has been applied to estimate crop sum insured in these three cases. Under the maximum economic impact assumption, the maximum market price has been used to insurance each species. Depending on crop and reliability of the data base available, the insured area or insured production has been used in this estimation. When for a certain crop varieties or type of varieties show different insurance prices a geometric average was used as average insurance price for that particular crop. One extreme difficult case was vineyards, where differentiate prices based on

  3. Insurance crisis

    International Nuclear Information System (INIS)

    Williams, P.L.

    1996-01-01

    The article discusses the effects of financing and technology advances on the availability of insurance for independent power producers operating gas turbines. Combined cycle units which require new materials and processes make it difficult to assess risk. Insurers are denying coverage, or raising prices and deductibles. Many lenders, however, are requiring insurance prior to financing. Some solutions proposed include information sharing by industry participants and insurers and increased risk acceptance by plant owners/operators

  4. Probabilistic Insurance

    NARCIS (Netherlands)

    P.P. Wakker (Peter); R.H. Thaler (Richard); A. Tversky (Amos)

    1997-01-01

    textabstractProbabilistic insurance is an insurance policy involving a small probability that the consumer will not be reimbursed. Survey data suggest that people dislike probabilistic insurance and demand more than a 20% reduction in the premium to compensate for a 1% default risk. While these

  5. Probabilistic Insurance

    NARCIS (Netherlands)

    Wakker, P.P.; Thaler, R.H.; Tversky, A.

    1997-01-01

    Probabilistic insurance is an insurance policy involving a small probability that the consumer will not be reimbursed. Survey data suggest that people dislike probabilistic insurance and demand more than a 20% reduction in premium to compensate for a 1% default risk. These observations cannot be

  6. 48 CFR 1452.228-70 - Liability Insurance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Liability Insurance. 1452... Insurance. As prescribed in 1428.301, insert the following clause: Liability Insurance—Department of the... extension thereof liability insurance in form satisfactory to the Contracting Officer by an insurance...

  7. Insurance requirements and practices of Ethiopia's construction sector

    African Journals Online (AJOL)

    Abstract. The principles of insurance and types of insurance policies in construCtion industry in general is discussed. The status of consultants and contractors in ... Keywords: Construction industry, Client, Consultant, Contractor, Contract, Insurance, Insurable interest, Indemnity, Liability, Policy, Premium, Risk management.

  8. 48 CFR 970.5228-1 - Insurance-litigation and claims.

    Science.gov (United States)

    2010-10-01

    ... insurance as required by law or approved in writing by the Contracting Officer. (2) The Contractor may, with... and insurance allocable to this contract required in accordance with contract terms or approved under... required by law, this contract, or by the written direction of the Contracting Officer. (h) In addition to...

  9. 48 CFR 952.231-71 - Insurance-litigation and claims.

    Science.gov (United States)

    2010-10-01

    ... insurance as required by law or approved in writing by the Contracting Officer. (2) The Contractor may, with... insurance allocable to this contract required in accordance with contract terms or approved under this... required by law, this contract, or by the written direction of the Contracting Officer. (h) In addition to...

  10. 41 CFR 60-741.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

    ..., sponsor, observe, or administer the terms of a bona fide benefit plan that is not subject to State laws... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life insurance and other benefit plans. 60-741.25 Section 60-741.25 Public Contracts and Property Management...

  11. Consumer in insurance law

    Directory of Open Access Journals (Sweden)

    Čorkalo Milena

    2016-01-01

    Full Text Available The paper analyses the notion of consumer in the European Union law, and, in particular, the notion of consumer in insurance law. The author highligts the differences between the notion of consumer is in aquis communautaire and in insurance law, discussing whether the consumer can be defined in both field in the same way, concerning that insurance services differ a lot from other kind of services. Having regarded unequal position of contracting parties and information and technical disadvantages of a weaker party, author pleads for broad definition of consumer in insurance law. In Serbian law, the consumer is not defined in consistent way. That applies on Serbian insurance law as well. Therefore, the necessity of precise and broad definition of consumes is underlined, in order to delimit the circle of subject who are in need for protection. The author holds that the issue of determination of the circle of persons entitled to extended protection as consumers is of vital importance for further development of insurance market in Serbia.

  12. 14 CFR 440.13 - Standard conditions of insurance coverage.

    Science.gov (United States)

    2010-01-01

    ... against that licensee, permittee or additional insured). (5) Each exclusion from coverage must be...; or (ii) Includes in each of its policies or insurance obtained under this part a contract clause in...

  13. 18 CFR 367.9240 - Account 924, Property insurance.

    Science.gov (United States)

    2010-04-01

    ...) Insurance counsel, brokerage fees, and expenses. (d) The cost of insurance or reserve accruals capitalized..., Costs and expenses of merchandising, jobbing and contract work (§ 367.4160). (f) The cost of labor and...

  14. Social Insurance and Health

    OpenAIRE

    Ziebarth, Nicolas R.

    2017-01-01

    This chapter reviews the existing empirical evidence on how social insurance affects health. Social insurance encompasses programs primarily designed to insure against health risks, such as health insurance, sick leave insurance, accident insurance, long-term care insurance and disability insurance; and programs that insure against other risks, such as unemployment insurance, pension insurance and country-specific social insurance. These insurance systems exist in almost all developed countri...

  15. Constant Proportion Portfolio Insurance

    DEFF Research Database (Denmark)

    Jessen, Cathrine

    2014-01-01

    Portfolio insurance, as practiced in 1987, consisted of trading between an underlying stock portfolio and cash, using option theory to place a floor on the value of the position, as if it included a protective put. Constant Proportion Portfolio Insurance (CPPI) is an option-free variation...... on the theme, originally proposed by Fischer Black. In CPPI, a financial institution guarantees a floor value for the “insured” portfolio and adjusts the stock/bond mix to produce a leveraged exposure to the risky assets, which depends on how far the portfolio value is above the floor. Plain-vanilla portfolio...... insurance largely died with the crash of 1987, but CPPI is still going strong. In the frictionless markets of finance theory, the issuer’s strategy to hedge its liability under the contract is clear, but in the real world with transactions costs and stochastic jump risk, the optimal strategy is less obvious...

  16. Risk Management and Insurance Decisions under Ambiguity

    DEFF Research Database (Denmark)

    Martínez-Correa, Jimmy

    a counterexample to a classical result in insurance economics where an insurance contract with straight deductible is dominated by a coinsurance contract. Finally, I find that a modified Borch rule characterizes the optimal insurance contract with bilateral risk and ambiguity attitudes and heterogeneity in beliefs....... and ambiguity attitudes interact in nontrivial ways to determine the change of coinsurance demand. I derive sufficient conditions to guarantee that the optimal coinsurance demand is decreasing in wealth. When a non-traded asset is introduced, my model predicts behavior that is inconsistent with the classical...

  17. 7 CFR 400.653 - Determining crops of economic significance.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Determining crops of economic significance. 400.653 Section 400.653 Agriculture Regulations of the Department of Agriculture (Continued) FEDERAL CROP INSURANCE CORPORATION, DEPARTMENT OF AGRICULTURE GENERAL ADMINISTRATIVE REGULATIONS Federal Crop Insurance...

  18. Probabilistic insurance

    OpenAIRE

    Wakker, P.P.; Thaler, R.H.; Tversky, A.

    1997-01-01

    textabstractProbabilistic insurance is an insurance policy involving a small probability that the consumer will not be reimbursed. Survey data suggest that people dislike probabilistic insurance and demand more than a 20% reduction in the premium to compensate for a 1% default risk. While these preferences are intuitively appealing they are difficult to reconcile with expected utility theory. Under highly plausible assumptions about the utility function, willingness to pay for probabilistic i...

  19. Basic characteristics of livestock insurance in Serbia: With reference to the some elements of this type of insurance in some non-European and European countries

    Directory of Open Access Journals (Sweden)

    Čolović Vladimir

    2016-01-01

    Full Text Available The livestock insurance is a part of agricultural insurance. This type of insurance is also part of a non-life insurance. The livestock insurance is undeveloped in Serbia. In general, a very small number of farms (5% of total decided for the conclusion of livestock insurance contracts. This paper analyzes the basic characteristics of this type of insurance, and the authors pay attention to the implementation of this type of insurance in other countries. Special attention is paid to the livestock insurance in Mongolia, India, Mexico and Ireland who are defined livestock insurance programs that have contributed to a greater number of contracts concluded in this field. Also, the authors speaking about livestock insurance in some European countries. Finally, the authors criticize the way in which is regulated livestock insurance in Serbia, by proposing a series of measures that should be implemented by the insurance companies and state.

  20. 75 FR 59057 - Common Crop Insurance Regulations, Cotton Crop Insurance Provisions and Macadamia Nut Crop...

    Science.gov (United States)

    2010-09-27

    ... contains regulatory documents #0;having general applicability and legal effect, most of which are keyed #0...;Prices of new books are listed in the first FEDERAL REGISTER issue of each #0;week. #0; #0; #0; #0;#0... longer accurate. Language in section 10(d) referring to the quality adjustment parameters listed in the...

  1. Forest insurance

    Science.gov (United States)

    Ellis T. Williams

    1949-01-01

    Standing timber is one of the few important kinds of property that are not generally covered by insurance. Studies made by the Forest Service and other agencies have indicated that the risks involved in the insurance of timber are not unduly great, provided they can be properly distributed. Such studies, however, have thus far failed to induce any notable development...

  2. 48 CFR 2115.071 - Specific retention periods: Contract clause.

    Science.gov (United States)

    2010-10-01

    ... MANAGEMENT, FEDERAL EMPLOYEES GROUP LIFE INSURANCE FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION 2115.071 Specific retention periods: Contract clause. Unless the... specified by FAR 52.215-2, “Audit—Negotiation,” the contracting officer shall also insert the clause at 2152...

  3. INSURANCE MARKET. GENERAL CONSIDERATIONS OF INSURANCES IN ROMANIA

    Directory of Open Access Journals (Sweden)

    MARINEL NEDELUŢ

    2013-10-01

    Full Text Available Insurance is a contract made by a company or society, or by the state, to provide a guarantee for loss, damage, illness, death etc in return for regular payments. In other words it is a means by which one pays a relatively small known cost for protection against an uncertain and much larger cost. Still, this contract (insurance policy makes it possible for the insured to cover only losses that are measurable in terms of money and caused strictly by hazardous events, independent from own doing. If no such events should happen, the benefits won’t exist in a tangible, material form, but will take the shape of security against ruin. Since the insurance industry has developed more during the last decade due to the powerful players that have entered the market, the services provided by the insurance companies, and not only their products have evolved a lot in order to meet the requirements of the consumers, and to make them familiar with this type of investments. Therefore all the means of advertising became essential in this process of implementation and familiarization with this area of activity: mass-media advertising, insurance brokerage companies, the internet are all parts of this process.

  4. Insurance dictionary

    International Nuclear Information System (INIS)

    Mueller-Lutz, H.L.

    1984-01-01

    Special technical terms used in the world of insurance can hardly be found in general dictionaries. This is a gap which the 'Insurance dictionary' now presented is designed to fill. In view of its supplementary function, the number of terms covered is limited to 1200. To make this dictionary especially convenient for ready reference, only the most commonly used translations are given for each key word in any of the four languages. This dictionary is subdivided into four parts, each containing the translation of the selected terms in the three other languages. To further facilitate the use of the booklet, paper of different colours was used for the printing of the German, English, French and Greek sections. The present volume was developed from a Swedish insurance dictionary (Fickordbok Foersaekring), published in 1967, which - with Swedish as the key language- offers English, French and German translations of the basic insurance terms. (orig./HP) [de

  5. Insurance Contract, Just Compensation as Result of Insurance

    Directory of Open Access Journals (Sweden)

    Ilir Mustafaj

    2011-01-01

    This paper brings conclusions that contribute to: a national information communication technology policy for university libraries and b the creation of an integrated system for management and transmission of knowledge at the national level for all Albanian university libraries.

  6. Pension Insurance

    OpenAIRE

    Zvi Bodie

    2005-01-01

    Around the world today there are striking differences in pension systems. The roles played by families, employers, trade unions, financial intermediaries, community organizations, affiliation groups, and governmental agencies vary tremendously. Yet despite these differences, in almost every country the government is ultimately the pension insurer of last resort, either explicitly or implicitly. If designed well and managed well, a system of government pension insurance can enhance the wellbei...

  7. Climate change and insurance: a critical appraisal

    International Nuclear Information System (INIS)

    Tol, Richard S.J.

    1998-01-01

    Several issues relating to insurance and the damage costs of climate change are discussed. It is argued that the option of insuring climate change is severely limited because the associated damages are hardly quantifiable and little diversifiable; in addition, binding contracts are a problem on long time scales and in an international context. Hedging, consumption smoothing over time, precautionary investments and liability are not to be presented under the heading of insurance, not only because this unnecessarily and confusingly expands the traditional definition of insurance, but also because this could create a false sense of security. The impact of climate change on the profitability of the commercial insurance sector is not likely to be severe, as the insurance companies are capable of shifting changed risks to the insured, provided that they are properly and timely informed on the consequences of climate change. (author)

  8. 40 CFR 35.6590 - Bonding and insurance.

    Science.gov (United States)

    2010-07-01

    ... STATE AND LOCAL ASSISTANCE Cooperative Agreements and Superfund State Contracts for Superfund Response Actions Procurement Requirements Under A Cooperative Agreement § 35.6590 Bonding and insurance. (a... recipient must clearly and accurately state in the contract documents the bonds and insurance requirements...

  9. 48 CFR 3452.228-70 - Required insurance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Required insurance. 3452... 3452.228-70 Required insurance. As prescribed in 3428.370, insert the following clause in all solicitations and resultant cost-reimbursement contracts: Required Insurance (AUG 1987) (a) The contractor shall...

  10. Optimal Rules of Negligent Misrepresentation in Insurance Law

    DEFF Research Database (Denmark)

    Lando, Henrik

    negligent by the court when it is unclear the misrepresentation was due to a mistake or intentional. Rules of negligent misrepresentation differ significantly across jurisdictions. For example, the rule of common law allows the insurer to rescind the contract, whereas the German rule does not allow......This article analyzes rules for negligent misrepresentation in insurance contract law. Before contract signature, the applicant can be asked by the insurer to fill in a questionnaire concerning the risk, and may then omit or make untrue statements about facts. Such misrepresentation is considered...... the insurer to reduce cover at all. Other rules, that differ in the strictness of the consequences for the insured, apply in other European countries, and yet others have been proposed in current attempts to harmonise both American and European insurance contract law. This article allows for an evaluation...

  11. Nuclear insurance problems in Spain

    International Nuclear Information System (INIS)

    Gomez del Campo, Julian.

    1977-01-01

    The purpose of this paper is to study the problems raised in Spain by third party liability insurance for nuclear damage. National law in this field is based on the Paris Convention on nuclear third party liability and defines the conditions of liability of operators of nuclear installations. The insurance contract requirements must comply with the regulations on cover for nuclear risks, under the control of the Finance Ministry's competent services. Certain exceptional nuclear risks which cannot be covered entirely by ordinary insurance policies, are taken over by the Consorcio de Compensacion de Seguros which belongs to this Ministry. From the insurance viewpoint, the regulations make a distinction between nuclear and radioactive installations and nuclear transport. (NEA) [fr

  12. Banking contracts

    OpenAIRE

    Sochorová, Silvie

    2012-01-01

    Resumé - Bank Contracts Bank Contracts are an integral part of our everyday lives. Citizen and bussines entities used bank contracts very often. Despite this fact we can't find legal definition in the Czech law. Banking contracts understand contracts that are signed by banks in their business activities and obligations under these contracts arise. While the banking contracts have been widely used, in Czech law there is not too much literature and judgements abou this issue. Lack of legislatio...

  13. 48 CFR 2109.409 - Certification and contract clause.

    Science.gov (United States)

    2010-10-01

    ..., FEDERAL EMPLOYEES GROUP LIFE INSURANCE FEDERAL ACQUISITION REGULATION ACQUISITION PLANNING CONTRACTOR... negotiations. (b) The contracting officer shall insert the clause at 2152.209-71 in all FEGLI Program contracts. ...

  14. 41 CFR 60-300.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

    ... law. (b) The contractor may establish, sponsor, observe or administer the terms of a bona fide benefit... administer the terms of a bona fide benefit plan that is not subject to state laws that regulate insurance... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life...

  15. 41 CFR 60-250.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

    ... law. (b) The contractor may establish, sponsor, observe or administer the terms of a bona fide benefit... administer the terms of a bona fide benefit plan that is not subject to state laws that regulate insurance... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life...

  16. INSURANCE MILK

    OpenAIRE

    Alston, Julian M.; Quilkey, John J.

    1980-01-01

    Where the production of milk for sale on the fresh milk market at 'controlled' prices is subject to nontransferable quotas the holders of quota who wish to maximise profits have a motive to maintain production above the quota level to insure against variations in demand for over-quota sales and yield. The concept of 'production of milk as insurance' is used to clarify the way in which such behaviour gives rise to social costs which could be avoided in a competitive market, by a permissive att...

  17. Risk Allocation in Construction Contracting

    Science.gov (United States)

    1992-01-01

    loss and the surety would discover any potential losses in its investigation. An insurer expects some losses in an insured group . 30. Mason, pp. 39-40...liquidated damages is that they cannot be imposed as a 55. Laurence P. Simpson , Handbook of the Law of Contracts, (St. Paul, Minnesota: West Publishing Co...before the date established for each hv the falire to aet of the Contractor or of persons or entities pro gress payment, thle Contractor shall suhm ~lit to

  18. Health Insurance Basics

    Science.gov (United States)

    ... Safe Videos for Educators Search English Español Health Insurance Basics KidsHealth / For Teens / Health Insurance Basics What's ... advanced calculus was confusing. What Exactly Is Health Insurance? Health insurance is a plan that people buy ...

  19. 48 CFR 252.228-7006 - Compliance with Spanish laws and insurance.

    Science.gov (United States)

    2010-10-01

    ... prescribed at 228.370(e), use the following clause: Compliance with Spanish Laws and Insurance (DEC 1998) (a... work in Spain under this contract. (f) Insurance policies required herein shall be purchased from Spanish insurance companies or other insurance companies legally authorized to conduct business in Spain...

  20. 48 CFR 52.228-7 - Insurance-Liability to Third Persons.

    Science.gov (United States)

    2010-10-01

    ... liabilities)— (1) For which the Contractor is otherwise responsible under the express terms of any clause... REGULATION (CONTINUED) CLAUSES AND FORMS SOLICITATION PROVISIONS AND CONTRACT CLAUSES Text of Provisions and... damage) insurance, and such other insurance as the Contracting Officer may require under this contract...

  1. Health insurance and hospital technology adoption.

    Science.gov (United States)

    Freedman, Seth

    2012-01-01

    This chapter discusses the relationship between health insurance and hospitals' decisions to adopt medical technologies. I focus on both how the extent of insurance coverage can increase incentives to adopt new treatments, and how the parameters of the insurance contract can impact the types of treatments adopted. I provide a review of the previous theoretical and empirical literature and highlight evidence on this relationship from previous expansions of Medicaid eligibility to low-income pregnant women. While health insurance has important effects on individual-level choices of health care consumption, increases in the fraction of the population covered by insurance has also been found to have broader supply side effects as hospitals respond to changes in demand by changing the type of care offered. Furthermore, hospitals respond to the design of insurance contracts and adopt more or less cost-effective technologies depending on the incentive system. Understanding how insurance changes supply side incentives is important as we consider future changes in the insurance landscape. ORIGINALITY/VALUE OF PAPER: With these previous findings in mind, I conclude with a discussion of how the Affordable Care Act may alter hospital technology adoption incentives by both expanding coverage and changing payment schemes.

  2. NEW VECTORS OF THE MOTOR INSURANCE DEVELOPMENT IN UKRAINE

    Directory of Open Access Journals (Sweden)

    N. Prikazyuk

    2015-04-01

    Full Text Available The essence and features of different forms of motor insurance are studied. As investigated, the motor insurance is one of the most popular types of insurance in many countries, and continues its further quality development. It is stated that the following new vectors of development has been recently observed in developed countries: Internet sales are getting significantly prevalent along with the traditional channels of insurance distribution; insurers’ websites provide a wide range of online features in motor insurance; innovations in motor insurance based on the use of telematics, particularly the usage-based insurance, are widely spread. Basic types of motor insurance, which represent the domestic market, are analyzed. It was found that the share of motor insurance in the insurance market of Ukraine is significant. As established, the proportion of net premiums of motor insurance is decreasing, because its development is significantly influenced by economic factors. Measures, applied by insurance companies in the domestic market of motor insurance to attract new customers and retain the existing ones, are defined. In particular, insurers are trying to develop the implementation of insurance services online, and use possibilities offered by mobile technologies. It was found that the domestic market of motor insurance is characterized by a high level of fraud, that is why some innovative measures in the domestic and international motor insurance agreements are taken to decrease it, such as the introduction of mandatory registration of insurance agents, who have the right to perform mediatory activity in compulsory civil liability insurance of owners of motor vehicles (CCLIOMV, and procedures for contracting the international insurance “Green Card” agreements with simultaneous entering the information on concluded agreement into a unified centralized database of Motor (transport insurance bureau of Ukraine using the “Green Card online

  3. The IASB Discussion Paper on Insurance: A CFO Forum Perspective*

    OpenAIRE

    Denis Duverne; Jacques Le Douit

    2008-01-01

    The IASB has issued a Discussion Paper on accounting for insurance and reinsurance contracts. This project is based on a prospective measurement of the insurance liabilities, the current exit value, which corresponds to a “market consistent” transfer value of insurance contracts to another market participant. This project is similar to the Elaborated Principles (the EPs) proposed by the CFO Forum in June 2006: a single model for measuring the insurance liabilities based on a three building bl...

  4. FEATURES OF PROFESSIONAL LIABILITY INSURANCE REALIZATION IN UKRAINE

    Directory of Open Access Journals (Sweden)

    О. Lobova

    2015-04-01

    Full Text Available The signs of professional liability insurance are generalized in the article. It is the presence of losses, additional costs that require mechanisms and sources of compensation. The essence of the professional responsibility concept is determined and it is characterized like specialists material liability of different professions, lack of qualifications, errors and omissions are due to carelessness or negligence may cause harm to the client The main elements of the professional liability insurance contract, such as insurance objects, insurance compensation, insurance risks are described. The types of professional liability insurance are characterized. There are such types of the professional liability insurance: professional liability insurance of architect, lawyer, auditor (accountant, appraiser, notary, customs broker and doctor. It is determined, that the most widespread in Ukraine is the professional liability insurance of lawyer and customs broker because the policy is purchased for the sole purpose to obtain a license. The size of insurance rates in the provision of professional liability insurance in different insurance companies of Ukraine are analyzed. It is established that insurance rate depends on the type of professional activity, scope of service, qualifications and the other factors. The development impulse can only provide judicial and legal definition of professions wide list that are subject under mandatory professional liability insurance.

  5. 26 CFR 20.2056(b)-6 - Marital deduction; life insurance or annuity payments with power of appointment in surviving spouse.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Marital deduction; life insurance or annuity... consists of proceeds held by an insurer under the terms of a life insurance, endowment, or annuity contract... policy of insurance upon the decedent's life, a policy of insurance upon the life of a person who...

  6. Federal Deposit Insurance Corporation (FDIC) Insured Banks

    Data.gov (United States)

    Department of Homeland Security — The Summary of Deposits (SOD) is the annual survey of branch office deposits for all FDIC-insured institutions including insured U.S. branches of foreign banks. Data...

  7. 77 FR 27658 - Common Crop Insurance Regulations; Processing Sweet Corn Crop Insurance Provisions

    Science.gov (United States)

    2012-05-11

    ... under control number 0563-0053. E-Government Act Compliance FCIC is committed to complying with the E... Federal eRulemaking Portal. You may submit comments, identified by Docket ID No. FCIC-12-0001, by any of the following methods: Federal eRulemaking Portal: http://www.regulations.gov . Follow the...

  8. 77 FR 59045 - Common Crop Insurance Regulations; Prune Crop Insurance Provisions

    Science.gov (United States)

    2012-09-26

    ... Flexibility Analysis has not been prepared since this regulation does not have an impact on small entities... language regarding production that is sold by direct marketing. Section 11--Settlement of Claim Comment: A... or improper application of pest control measures; or (8) Plant disease, but not damage due to...

  9. 77 FR 52587 - Common Crop Insurance Regulations; Peach Crop Insurance Provisions

    Science.gov (United States)

    2012-08-30

    ... guarantee. No change has been made. Comment: Numerous commenters stated that based on market demand, large.... However, fresh and processing are identified as types in the Special Provisions of the Actuarial... definitions of ``fresh'' and ``processing'' were added. The Actuarial Information Browser will provide a...

  10. 76 FR 43606 - Common Crop Insurance Regulations; Onion Crop Insurance Provisions

    Science.gov (United States)

    2011-07-21

    ... with the E-Government Act, to promote the use of the Internet and other information technologies to..., Wilson, Karnes, Bee, and San Patricio Counties, Texas, and all Texas Counties lying south thereof...

  11. 75 FR 15777 - Common Crop Insurance Regulations, Basic Provisions; and Various Crop Insurance Provisions

    Science.gov (United States)

    2010-03-30

    ... in the Pacific Northwest because it is harvest season, then it is time to begin the fall seeding of... corn and soybeans. This date was previously April 1 and was changed to March 15 some time ago with no... discovery period to allow more time for sales. The CEPP was provided for comment as a courtesy to the public...

  12. 77 FR 13961 - Common Crop Insurance Regulations; Onion Crop Insurance Provisions

    Science.gov (United States)

    2012-03-08

    ... commenter noted in the Basic Provisions, planted acreage is ``land in which seeds, plants, or trees have... not considered seeds, plants or trees, which are used in the definition of planted acreage in the... ``* * * the majority of producers in the area would not normally further care for the onions * * *'' in...

  13. 77 FR 41709 - Common Crop Insurance Regulations; Florida Citrus Fruit Crop Insurance Provisions

    Science.gov (United States)

    2012-07-16

    ... type, intended use, and age of trees within a citrus fruit commodity, times the coverage level percent... changes, to clarify existing policy provisions to better meet the needs of policyholders, and to reduce... Administration and Standards Division, Risk Management Agency, United States Department of Agriculture, Beacon...

  14. 77 FR 75509 - Common Crop Insurance Regulations; Florida Citrus Fruit Crop Insurance Provisions

    Science.gov (United States)

    2012-12-21

    ... production sold, and the price. Acceptable fresh fruit sales records may include: Trip tickets, pack-out... acceptable fresh fruit sales records must be provided upon request from at least one of the previous three... provision in section 3(c) changes the deadline from sales closing date to acreage reporting date and would...

  15. 75 FR 15603 - Common Crop Insurance Regulations; Florida Avocado Crop Insurance Provisions

    Science.gov (United States)

    2010-03-30

    ... not have a significant economic impact on a substantial number of small entities. Program requirements... if you are unable to market due to quarantine, boycott, or refusal of any person to accept production...

  16. 76 FR 75805 - Common Crop Insurance Regulations; Prune Crop Insurance Provisions

    Science.gov (United States)

    2011-12-05

    ... this regulation will not have a significant economic impact on a substantial number of small entities.... Environmental Evaluation This action is not expected to have a significant economic impact on the quality of the.... For example, we will not pay you an indemnity if you are unable to market due to quarantine, boycott...

  17. 78 FR 17606 - Common Crop Insurance Regulations; Arizona-California Citrus Crop Insurance Provisions

    Science.gov (United States)

    2013-03-22

    ... regulation will not have a significant economic impact on a substantial number of small entities. Program.... Environmental Evaluation This action is not expected to have a significant economic impact on the quality of the... quarantine, boycott, or refusal of any person to accept production. 10. * * * (a) In accordance with the...

  18. Unemployment Insurance Query (UIQ)

    Data.gov (United States)

    Social Security Administration — The Unemployment Insurance Query (UIQ) provides State Unemployment Insurance agencies real-time online access to SSA data. This includes SSN verification and Title...

  19. 26 CFR 1.818-4 - Election with respect to life insurance reserves computed on preliminary term basis.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Election with respect to life insurance reserves... Election with respect to life insurance reserves computed on preliminary term basis. (a) In general. Section 818(c) permits a life insurance company issuing contracts with respect to which the life insurance...

  20. The need of the Nuclear Civil Liability Insurance

    International Nuclear Information System (INIS)

    Gomez del Campo, J.

    2011-01-01

    Nuclear Liability Insurance (NLI), emerged as a safety mechanism and product to respond to a great risk. because of the compulsory nature of international and national regulations, it has become a compulsory contract. Nuclear risk coverage pools are founded as groups of insurers and reinsurers, without legal entity, which cooperate and pool their resources to deal with these great risks. In spain Atomic Pool has been renamed ESPANUCLEAR, administered by and Economic Interest Grouping called Nuclear risk Insurers. (Author)

  1. 48 CFR 828.106-72 - Contract provision.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contract provision. 828... GENERAL CONTRACTING REQUIREMENTS BONDS AND INSURANCE Bonds and Other Financial Protections 828.106-72 Contract provision. Insert 852.228-72, Assisting Service-Disabled Veteran-Owned and Veteran-Owned Small...

  2. Alternative crops

    International Nuclear Information System (INIS)

    Andreasen, L.M.; Boon, A.D.

    1992-01-01

    Surplus cereal production in the EEC and decreasing product prices, mainly for cereals, has prompted considerable interest for new earnings in arable farming. The objective was to examine whether suggested new crops (fibre, oil, medicinal and alternative grains crops) could be considered as real alternatives. Whether a specific crop can compete economically with cereals and whether there is a market demand for the crop is analyzed. The described possibilities will result in ca. 50,000 hectares of new crops. It is expected that they would not immediately provide increased earnings, but in the long run expected price developments are more positive than for cereals. The area for new crops will not solve the current surplus cereal problem as the area used for new crops is only 3% of that used for cereals. Preconditions for many new crops is further research activities and development work as well as the establishment of processing units and organizational initiatives. Presumably, it is stated, there will then be a basis for a profitable production of new crops for some farmers. (AB) (47 refs.)

  3. Premium indexing in lifelong health insurance

    NARCIS (Netherlands)

    Vercruysse, W.; Dhaene, J.; Denuit, M.; Pitacco, E.; Antonio, K.

    2013-01-01

    For lifelong health insurance covers, medical inflation not incorporated in the level premiums determined at policy issue requires an appropriate increase of these premiums and/or the corresponding reserves during the term of the contract. In this paper, we investigate appropriate premium indexing

  4. Administrative contracts

    Directory of Open Access Journals (Sweden)

    Vukićević-Petković Milica

    2015-01-01

    Full Text Available Administrative contracts are a special type of contract where usually one of the contracting parties is a public law body and which is concluded for the performance of public service and the realization of a public interest. They go a long way since its inception to its eventual final acceptance of all the legal systems. One of the enduring characteristics of this type of contract is their disquised or unnoticed existence. This is why only monitoring their development may lead to a complete understanding of the importance and essence of this institution as well as the need for its complete legal regulation.

  5. Electrical contracting

    CERN Document Server

    Neidle, Michael

    2013-01-01

    Electrical Contracting, Second Edition is a nine-chapter text guide for the greater efficiency in planning and completing installations for the design, installation and control of electrical contracts. This book starts with a general overview of the efficient cabling and techniques that must be employed for safe wiring design, as well as the cost estimation of the complete electrical contract. The subsequent chapters are devoted to other electrical contracting requirements, including electronic motor control, lighting, and electricity tariffs. A chapter focuses on the IEE Wiring Regulations an

  6. Administrative contracts

    OpenAIRE

    Vukićević-Petković Milica

    2015-01-01

    Administrative contracts are a special type of contract where usually one of the contracting parties is a public law body and which is concluded for the performance of public service and the realization of a public interest. They go a long way since its inception to its eventual final acceptance of all the legal systems. One of the enduring characteristics of this type of contract is their disquised or unnoticed existence. This is why only monitoring their development may lead to a complete u...

  7. Alternative health insurance schemes

    DEFF Research Database (Denmark)

    Keiding, Hans; Hansen, Bodil O.

    2002-01-01

    In this paper, we present a simple model of health insurance with asymmetric information, where we compare two alternative ways of organizing the insurance market. Either as a competitive insurance market, where some risks remain uninsured, or as a compulsory scheme, where however, the level...... competitive insurance; this situation turns out to be at least as good as either of the alternatives...

  8. Risk, Ambiguity, and Insurance.

    Science.gov (United States)

    1984-10-01

    ambiguous, insurance firms are reluctant to market coverage. The oae of nulear power provides a graphic example. Neither risk managers of nuclear...Inauiry, 20, 1-9. Alliance of American Insurers, American Insurance Association, National Association of Independent Insurers, Mutual Atomic Energy

  9. 7 CFR 760.634 - SURE guarantee for value loss crops.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false SURE guarantee for value loss crops. 760.634 Section... Payments Program § 760.634 SURE guarantee for value loss crops. (a) The SURE guarantee for value loss crops... otherwise specified. (1) For each insurable crop on the farm, 115 percent of the product obtained by...

  10. “If It’s Easy to Read, It’s Easy to Claim”—The Effect of the Readability of Insurance Contracts on Consumer Expectations and Conflict Behaviour

    NARCIS (Netherlands)

    W.H. van Boom (Willem); P.T.M. Desmet (Pieter); Van Dam, M. (Mark)

    2016-01-01

    textabstractIn the area of financial services, lawmakers and regulators increasingly promote the use of plain language in business-to-consumer contracts. Although such efforts are undoubtedly welcomed by consumers, as they promote better comprehension, not much is known about the actual effects of

  11. “If It’s Easy to Read, It’s Easy to Claim”—The Effect of the Readability of Insurance Contracts on Consumer Expectations and Conflict Behaviour

    NARCIS (Netherlands)

    Boom, van W.H.; Desmet, P.; Dam, van M.

    2016-01-01

    In the area of financial services, lawmakers and regulators increasingly promote the use of plain language in business-to-consumer contracts. Although such efforts are undoubtedly welcomed by consumers, as they promote better comprehension, not much is known about the actual effects of improved

  12. 24 CFR 220.806 - Pro rata refund of insurance premium.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Pro rata refund of insurance... AREAS Contract Rights and Obligations-Projects Insured Project Improvement Loans § 220.806 Pro rata... equal to the pro rata portion of the current annual loan insurance premium theretofore paid which is...

  13. 24 CFR 232.825 - Pro rata refund of insurance premium.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Pro rata refund of insurance... ASSISTED LIVING FACILITIES Contract Rights and Obligations Premiums § 232.825 Pro rata refund of insurance... rata portion of the current annual loan insurance premium theretofore paid which is applicable to the...

  14. 48 CFR 752.228-3 - Worker's compensation insurance (Defense Base Act).

    Science.gov (United States)

    2010-10-01

    ... insurance (Defense Base Act). 752.228-3 Section 752.228-3 Federal Acquisition Regulations System AGENCY FOR... Clauses 752.228-3 Worker's compensation insurance (Defense Base Act). As prescribed in 728.309, the... contracting officer. (a) The Contractor agrees to procure Defense Base Act (DBA) insurance pursuant to the...

  15. Aggravation of Risk and Precautionary Measures in Non-Life Insurance: A Tricky Scope for the Insurer?

    Directory of Open Access Journals (Sweden)

    Olavi-Jüri Luik

    2015-12-01

    Full Text Available Aggravation of risk and failure to take precautionary measures are focal issues in non-life insurance in terms of potential partial or full release of the insurer from the duty to perform. Not infrequently, it is difficult to draw a line between the aggravation of risk on the one hand, and non-compliance with precautionary measures on the other, since a particular action by a policyholder may present both situations. At the same time, the legal remedies available to the insurer regarding these two situations are different in scope. The aggravation of risk and non-compliance with precautionary measures are precisely the bases on which insurers actually reduce indemnity or refuse to compensate for damages. This article explores the differences between insurance laws in the Baltic states—specifically, the Estonian Law of Obligations Act, the Latvian Insurance Contract Law and Lithuanian rules contained in the Civil Code and Insurance Law. The article explores the differences between the Baltic states’ insurance laws and the Principles of European Insurance Contract Law (PEICL with regard to a policyholder’s duty in relation to aggravation of risk and precautionary measures, as the rights and obligations of policyholders do change where the optional instrument is applied. The article also includes comparisons to German, Finnish and Russian insurance law.

  16. Insuring unit failures in electricity markets

    International Nuclear Information System (INIS)

    Pineda, S.; Conejo, A.J.; Carrion, M.

    2010-01-01

    An electric energy producer participates in futures markets in the hope of hedging the risk of trading in the pool. However, this producer is required to supply the energy associated with all its signed forward contracts even if some of its units are forced out due to unexpected failures. In this case, the producer must purchase some of the energy needed to meet its futures market commitments in the pool, which may result in high losses if the pool prices happen to be higher than the forward contract prices. To mitigate these losses, the producer can take out insurance against the forced outages of its units. Using a stochastic programming model, this paper analyzes the convenience of signing an insurance against unit failure by an electric energy producer and its impact on forward contracting decisions. Results from a realistic case study are provided and analyzed.

  17. CROPS Clever Robots for Crops

    NARCIS (Netherlands)

    Bontsema, J.; Hemming, J.; Pekkeriet, E.J.

    2015-01-01

    In the EU-funded CROPS project robots are developed for site-specific spraying and selective harvesting of fruit
    and fruit vegetables. The robots are being designed to harvest crops, such as greenhouse vegetables, apples,
    grapes and for canopy spraying in orchards and for precision target

  18. 78 FR 54691 - American General Life Insurance Company, et al.

    Science.gov (United States)

    2013-09-05

    ... payment enhancements offered under the Polaris Advantage II variable annuity (the ``Contracts'') to be...(s). At present, the Contracts offer portfolios of AIM Variable Insurance Funds (Invesco Variable... benefit or may elect the optional Maximum Anniversary Value death benefit for an additional fee...

  19. Federal Environmental Remediation Contractual and Insurance-Based Risk Allocation Schemes: Are They Getting the Job Done?

    National Research Council Canada - National Science Library

    Momber, Amy L

    2005-01-01

    .... Recognizing they cannot specifically account for such unknown contingencies via contract, the Government and remediation contractors employ contractual and insurance-based methods to shift or reduce...

  20. Insurance of nuclear risk

    International Nuclear Information System (INIS)

    Lacroix, M.

    1976-01-01

    Insurance for large nuclear installations covers mainly four types of risk: third party liability which in accordance with the nuclear conventions, is borne by a nuclear operator following an incident occurring in his installation or during transport of nuclear substances; material damage to the installation itself, which precisely is not covered by third party liability insurance; machinery breakdown, i.e. accidental damage or interruption of operation. Only the first category must be insured. In view of the magnitude of the risk, nuclear insurance resorts to co-insurance and reinsurance techniques which results in a special organisation of the nuclear insurance market, based on national nuclear insurance pools and on the Standing Committee on Atomic Risk of the European Insurance Committee. Conferences of the chairmen of nuclear insurance pools are convened regularly at a worldwide level. (NEA) [fr

  1. Contract litigation: prepare for war to ensure peace.

    Science.gov (United States)

    Martin, Kevin; Amir, Michael M

    2011-01-01

    Contract litigation can prove devastating for all but the deepest of pockets. Physicians need to prepare for war to ensure the most favorable outcome. This includes identifying your risks, negotiating from strength, and hedging your bets. Negotiate and read your contracts carefully. Beware of critical loser pays provisions in your contracts that will require you to pay your adversary's fees in the event of an adverse ruling at trial or summary judgment. Keep your insurance portfolio up to date, including the latest risk management tools, such as contract litigation insurance. Protect yourself and your practice by planning ahead.

  2. ORGANIZATION OF INSURANCE DEFENCE IN AGRARIAN ENTERPRISE – FOREIGN EXPERIENCE

    Directory of Open Access Journals (Sweden)

    M. Malik

    2015-08-01

    Full Text Available Financial stability of agricultural producers the most effective method to stimulate the development of agricultural insurance, which is part of the insurance premium compensation to agricultural producers for insurance contracts and regulation of insurance state. Government support of agricultural producers with their property insurance provides in a many developed countries (USA, Canada, Spain, etc., through which achieved a high level of insurance in the agricultural sector of the economy. In Ukraine agricultural insurance also carried out with government support, but its development is characterized by slow pace. Problems of development of agricultural insurance and solutions determine the relevance of the study of this problem. Agriculture is the key to food security. Insurance system should provide financial support to rural producers. That damage the agricultural sector affect not only the interests of the producers and the state in general, there is a need to create a basis for substantial government support for agriculture. Considerable support can be carried out through government subsidies producers or insurers in insurance operations.

  3. Chinese nuclear insurance and Chinese nuclear insurance pool

    International Nuclear Information System (INIS)

    Gong Zhiqi

    2000-01-01

    Chinese Nuclear Insurance Started with Daya Bay Nuclear Power Station, PICC issued the insurance policy. Nuclear insurance cooperation between Chinese and international pool's organizations was set up in 1989. In 1996, the Chinese Nuclear Insurance Pool was prepared. The Chinese Nuclear Insurance Pool was approved by The Chinese Insurance Regulatory Committee in May of 1999. The principal aim is to centralize maximum the insurance capacity for nuclear insurance from local individual insurers and to strengthen the reinsurance relations with international insurance pools so as to provide the high quality insurance service for Chinese nuclear industry. The Member Company of Chinese Nuclear Pool and its roles are introduced in this article

  4. Understanding health insurance plans

    Science.gov (United States)

    ... medlineplus.gov/ency/patientinstructions/000879.htm Understanding health insurance plans To use the sharing features on this ... for you and your family. Types of Health Insurance Plans Depending on how you get your health ...

  5. Disability Income Insurance

    OpenAIRE

    Hayhoe, Celia Ray; Smith, Mike, CPF

    2009-01-01

    The purpose of disability income insurance is to partially replace your income if you are unable to work because of sickness or an accident. This guide reviews the types of disability insurance, important terms and concepts and employer provided benefits.

  6. Contract Renewal Information - all Contracts

    Data.gov (United States)

    Department of Housing and Urban Development — Multifamily Portfolio datasets (section 8 contracts) - The information has been compiled from multiple data sources within FHA or its contractors. HUD oversees more...

  7. Canaryseed Crop

    Directory of Open Access Journals (Sweden)

    Maximiliano Cogliatti

    2012-03-01

    Full Text Available Canaryseed (Phalaris canariensis L. is a graminaceous crop species with production practices and cycle similar to those of other winter cereal crops such as spring wheat (Triticum aestivum L. and oat (Avena sativa L.. Currently its grains are used almost exclusively as feed for birds, alone or mixed with other grains like millet, sunflower seed, and flaxseed. Canaryseed is a genuine cereal with a unique composition that suggests its potential for food use. P. canariensis is cultivated in many areas of temperate climates. Currently, its production is concentrated in the southwestern provinces of Canada (Alberta, Saskatchewan and Manitoba and on a smaller scale in Argentina, Thailand and Australia. Globally it is considered to be a minor crop with regional relevance, with a production about of 250000 tonnes per year, which restricts private investment and public research on its genetic and technological improvement. For this reason, the type of crop management that is applied to this species largely depends on innovations made in other similar crops. This work provides an updated summary of the available information on the species: its requirements, distribution, genetic resources, cultivation practices, potential uses, marketing and other topics of interest to researchers and producers.

  8. Prescriptions and Insurance Plans

    Science.gov (United States)

    ... For several years after the drug is developed, laws prevent other drug companies from copying it. When other companies start manufacturing ... understand medical bills to know what your insurance company is paying…Health ... It CoversRead Article >>Insurance & BillsHealth Insurance: Understanding ...

  9. Contract farming and the development of smallholder agricultural businesses

    DEFF Research Database (Denmark)

    Contract farming has received renewed attention recently as developing economies try to grapple with how to transform the agricultural sector and its associated value chains. This book examines different contract arrangements for selected crops, applying both qualitative and quantitative approaches...... in order to examine how contract farming affects smallholders and value chain dynamics in Tanzania....

  10. Contract theory and EU Contract Law

    OpenAIRE

    Hesselink, M.W.; Twigg-Flesner, C.

    2016-01-01

    This paper explores the relationship between contract theory and European contract law. In particular, it confronts the leading contract law theories with the main characteristics of EU contract law. The conclusion is that the two do not match well. In particular, monist normative contract theories are largely irreconcilable with the contract law of the EU. The paper further addresses the main implications of this mismatch, both for contract theory and for EU contract law. It suggests that in...

  11. 78 FR 21015 - Noninsured Crop Disaster Assistance Program

    Science.gov (United States)

    2013-04-09

    ... Risk Management Agency (RMA) of USDA. NAP coverage is not automatic; producers must apply for NAP and... the crop year). This rule amends Sec. 1437.301 ``Value Loss,'' and Sec. 1437.305, ``Ornamental Nursery... for ornamental nursery. The change conforms with RMA crop insurance policy, consistent with the...

  12. Agile Contracts

    DEFF Research Database (Denmark)

    Pries-Heje, Jan; Pries-Heje, Lene

    2014-01-01

    When you have stable and non-ambiguous requirements then a classic contract for IS between a supplier and a public sector institution based on a requirements specification may be well suited. However, if you have to accept many changes or have ambiguous requirements then you may end up...... with “endless” re-negotiation of the requirements; you need a more flexible way to develop IS. A new way of coping with many changes is to use an agile development approach and a fixed budget and resources contract. This paper presents an example case. We analyse the case and design a guideline for how...... to implement a fixed budget and resources contract in the public sector. The guideline includes elements to cope with challenges in a tender process such as transparency, criteria for supplier selection, and live assessment of resource skills and capabilities, as well as achieving the flexibility for change...

  13. Turnkey contracts

    International Nuclear Information System (INIS)

    Langetepe, G.

    1977-01-01

    To make energy available economically and in sufficient quantity is a main point for the future of an industrial and more for a developing country. The investment costs and the availability of a power plant and in particular for a nuclear power plant are the most significant factors in the economic operation of the plant. In the phase before signing the contract the essential decisions are made with high influence in the economic operation and the availability of the plant. A turn-key contract offers good possibilities to minimize the risks referring a) the plant quality and functionality, b) the plant investment cost, c) the plant completion date, d) the handling of the licensing procedures, e) the availability of the operation. The lecture mentions the points which are of high influence for a successful erection and operation period and which must be clarified before signing the contract between the buyer and supplier of the plant. (orig./HP) [de

  14. The Potential and Uptake of Remote Sensing in Insurance: A Review

    Directory of Open Access Journals (Sweden)

    Jan de Leeuw

    2014-11-01

    Full Text Available Global insurance markets are vast and diverse, and may offer many opportunities for remote sensing. To date, however, few operational applications of remote sensing for insurance exist. Papers claiming potential application of remote sensing typically stress the technical possibilities, without considering its contribution to customer value for the insured or to the profitability of the insurance industry. Based on a systematic search of available literature, this review investigates the potential and actual support of remote sensing to the insurance industry. The review reveals that research on remote sensing in classical claim-based insurance described in the literature revolve around crop damage and flood and fire risk assessment. Surprisingly, the use of remote sensing in claim-based insurance appears to be instigated by government rather than the insurance industry. In contrast, insurance companies are offering various index insurance products that are based on remote sensing. For example, remotely sensed index insurance for rangelands and livestock are operational, while various applications in crop index insurance are being considered or under development. The paper discusses these differences and concludes that there is particular scope for application of remote sensing by the insurance industry in index insurance because (1 indices can be constructed that correlate well with what is insured; (2 these indices can be delivered at low cost; and (3 it opens up new markets that are not served by claim-based insurance. The paper finally suggests that limited adoption of remote sensing in insurance results from a lack of mutual understanding and calls for greater cooperation between the insurance industry and the remote sensing community.

  15. Risks and nuclear insurance

    International Nuclear Information System (INIS)

    Debaets, M.; Springett, G.D.; Luotonen, K.; Virole, J.

    1988-01-01

    When analysing the nuclear insurance market, three elements must be taken into account: the nuclear operator's liability is regulated by national laws and/or international Conventions, such operators pay large premiums to insure their nuclear installations against property damage and finally, the nuclear insurance market is made up of pools and is mainly a monopoly. This report describes the different types of insurance coverage, the system governing nuclear third party liability under the Paris Convention and the Brussels Supplementary Convention and several national laws in that field. The last part of the report deals with liability and insurance aspects of international transport of nuclear materials [fr

  16. Public Insurance and Equality

    DEFF Research Database (Denmark)

    Landes, Xavier; Néron, Pierre-Yves

    2015-01-01

    surrounding public insurance as a redistributive tool, advancing the idea that public insurance may be a relational egalitarian tool. It then presents a number of relational arguments in favor of the involvement of the state in the provision of specific forms of insurance, arguments that have been overlooked......Public insurance is commonly assimilated with redistributive tools mobilized by the welfare state in the pursuit of an egalitarian ideal. This view contains some truth, since the result of insurance, at a given moment, is the redistribution of resources from the lucky to unlucky. However, Joseph...... Heath (among other political theorists) considers that the principle of efficiency provides a better normative explanation and justification of public insurance than the egalitarian account. According to this view, the fact that the state is involved in the provision of specific insurance (primarily...

  17. Dread Disease and Cause-Specific Mortality: Exploring New Forms of Insured Loans

    Directory of Open Access Journals (Sweden)

    Valeria D’Amato

    2018-02-01

    Full Text Available The relevance of critical illness coverage and life insurance in cause-specific mortality conditions is increasing in many industrialized countries. Specific conditions on the illness and on death event, providing cheapest premiums for the insureds and lower obligations for the insurers, constitute interesting products in an insurance market looking to offer appealing products. On the other hand, the systematic improvement in longevity gives rise to a market with agents getting increasingly older, and the insurer pays attention to this trend. There are financial contracts joined with insurance coverage, and this particularly happens in the case of the so-called insured loan. Insured loans are financial contracts often proposed together with a term life insurance in order to cover the lender and the heirs against the borrower’s death event within the loan duration. This paper explores new insurance products that, linked to an insured loan, are founded on specific illness hypotheses and/or cause-specific mortality. The aim is to value how much the insurance costs lighten with respect to the traditional term insurance. The authors project cause-specific mortality rates and specific diagnosis rates, in this last case overcoming the discontinuities in the data. The new contractual schemes are priced. Numerical applications also show, with several graphs, the rates projection procedure and plenty of tables report the premiums in the new proposed contractual forms. The complete amortization schedule closes the work.

  18. Incomplete contracting theory in empirical accounting research

    NARCIS (Netherlands)

    van Lent, L.A.G.M.

    1999-01-01

    In three essays, the implications of the costly contracting approach in accounting are investigated. First, the consequences of changing the set of acceptable accounting techniques in the banking and insurance industry are examined. The regulations imposed by a government agency alter the

  19. Monopolistic Insurance and the Value of Information

    Directory of Open Access Journals (Sweden)

    Arthur Snow

    2015-07-01

    Full Text Available The value of information regarding risk class for a monopoly insurer and its customers is examined in both symmetric and asymmetric information environments. A monopolist always prefers contracting with uninformed customers as this maximizes the rent extracted under symmetric information while also avoiding the cost of adverse selection when information is held asymmetrically. Although customers are indifferent to symmetric information when they are initially uninformed, they prefer contracting with hidden knowledge rather than symmetric information since the monopoly responds to adverse selection by sharing gains from trade with high-risk customers when low risks are predominant in the insurance pool. However, utilitarian social welfare is highest when customers are uninformed, and is higher when information is symmetric rather than asymmetric.

  20. Risk Management and Insurance Decisions under Ambiguity

    DEFF Research Database (Denmark)

    Martínez-Correa, Jimmy

    portfolio theory that assumes Subjective Expected Utility theory; however, it provides hints to a possible solution of the under-diversification puzzle of households. I also identify conditions under which more risk or ambiguity aversion decreases the demand for coinsurance. Additionally, I show......I study the impact of ambiguity on insurance decisions and the optimality of insurance contracts. My tractable approach allows me to study the interaction between risk and ambiguity attitudes. When insurance decisions are made independently of other assets, for a given increase in wealth, both risk...... and ambiguity attitudes interact in nontrivial ways to determine the change of coinsurance demand. I derive sufficient conditions to guarantee that the optimal coinsurance demand is decreasing in wealth. When a non-traded asset is introduced, my model predicts behavior that is inconsistent with the classical...

  1. Illness Mapping: A time and cost effective method to estimate healthcare data needed to establish community-based health insurance

    NARCIS (Netherlands)

    E. Binnendijk (Erica); M. Gautham (Meenakshi); R. Koren (Ruth); D.M. Dror (David)

    2012-01-01

    textabstractBackground: Most healthcare spending in developing countries is private out-of-pocket. One explanation for low penetration of health insurance is that poorer individuals doubt their ability to enforce insurance contracts. Community-based health insurance schemes (CBHI) are a solution,

  2. Juxtaposing BTE and ATE – on the role of the European insurance industry in funding civil litigation

    NARCIS (Netherlands)

    W.H. van Boom (Willem)

    2010-01-01

    textabstractOne of the ways in which legal services are financed, and indeed shaped, is through private insurance arrangement. Two contrasting types of legal expenses insurance contracts (LEI) seem to dominate in Europe: before the event (BTE) and after the event (ATE) legal expenses insurance.

  3. With Direct Contracting Boeing Cuts Out the Middleman.

    Science.gov (United States)

    Burns, Joseph

    2017-11-01

    The company has more than 15,000 employees - or about a third of the eligible employees in those four locations - enrolled in direct contracts. Boeing has dubbed the direct contracts its Preferred Partnership health plan. Should insurers worry that other large companies will cut them out?

  4. Effects of weather extremes on crop yields in Nigeria | J O | African ...

    African Journals Online (AJOL)

    This study seeks to analyze how extreme weather conditions affect crop yield and risk in Nigeria and to assess the potential implications of weather extremes on the nation's crop insurance portfolio. A panel of Nigerian state-level crop yields was paired with a fine-scale weather data set that included distribution of ...

  5. Nuclear insurance fire risk

    International Nuclear Information System (INIS)

    Dressler, E.G.

    2001-01-01

    Nuclear facilities operate under the constant risk that radioactive materials could be accidentally released off-site and cause injuries to people or damages to the property of others. Management of this nuclear risk, therefore, is very important to nuclear operators, financial stakeholders and the general public. Operators of these facilities normally retain a portion of this risk and transfer the remainder to others through an insurance mechanism. Since the nuclear loss exposure could be very high, insurers usually assess their risk first-hand by sending insurance engineers to conduct a nuclear insurance inspection. Because a serious fire can greatly increase the probability of an off-site release of radiation, fire safety should be included in the nuclear insurance inspection. This paper reviews essential elements of a facility's fire safety program as a key factor in underwriting nuclear third-party liability insurance. (author)

  6. Contract theory and EU Contract Law

    NARCIS (Netherlands)

    Hesselink, M.W.; Twigg-Flesner, C.

    2016-01-01

    This paper explores the relationship between contract theory and European contract law. In particular, it confronts the leading contract law theories with the main characteristics of EU contract law. The conclusion is that the two do not match well. In particular, monist normative contract theories

  7. Data analytics for insurance loss modelling, telematics pricing and claims reserving.:Data analytics for insurance loss modelling, telematics pricing and claims reserving.

    OpenAIRE

    Verbelen, Roel

    2017-01-01

    Today's society generates data more rapidly than ever before, creating many opportunities as well as challenges for statisticians. Many industries become increasingly dependent on high-quality data, and the demand for sound statistical analysis of these data is rising accordingly. In the insurance sector, data have always played a major role. When selling a contract to a client, the insurance company is liable for the claims arising from this contract and will hold capital aside to meet th...

  8. Uninsured vs. insured population

    DEFF Research Database (Denmark)

    Andersen, Z. J.; Lin, Chyongchiou J; Chang, Chung-Chou H

    2003-01-01

    This study identified the underlying demographic and socioeconomic factors associated with insurance status among nonelderly Americans (age 19-64), as well as compared health care utilization between insured and uninsured. Data from the Community Tracking Study 1996-1997 Household Survey were...... analyzed. Approximately 74 percent of uninsured Americans are nonelderly Americans. Among the nonelderly Americans, about 17 percent are uninsured. Our findings show that insurance status varies significantly by region, age, race, gender, marital status, income, education, employment status, and health...

  9. Income diversification of small-scale sugarcane contract farmers in Kilombero and Turiani, Tanzania

    DEFF Research Database (Denmark)

    Nsindagi, Thobias; Sesabo, Jennifer K.; Henningsen, Arne

    2017-01-01

    Contract farming has received renewed attention recently as developing economies try to grapple with how to transform the agricultural sector and its associated value chains. This book examines different contract arrangements for selected crops, applying both qualitative and quantitative approaches...

  10. Researching the potentials and limitations of contract farming in sub-Saharan Africa

    DEFF Research Database (Denmark)

    Kuzilwa, Joseph A.; Fold, Niels; Henningsen, Arne

    2017-01-01

    Contract farming has received renewed attention recently as developing economies try to grapple with how to transform the agricultural sector and its associated value chains. This book examines different contract arrangements for selected crops, applying both qualitative and quantitative approach...

  11. Managed care contracting/capitation.

    Science.gov (United States)

    Reardon, T M

    1995-11-01

    Both the general approach for entering into a managed care contract and the subject of capitation are presented. The general approach section outlines the criteria that a physician group should apply in analyzing the feasibility of entering into a managed care contract with any insurer. The physician group's contracting process should be iterative and refined over time. The capitation section addresses issues revolving around the assessment of a capitated contract. The example assumes a typical health maintenance organization-primary care group contract. Not analyzed in this article are the exciting opportunities presented through specialty carveout capitation. Managing the transition to a more competitive environment will be the major challenge facing group practices. Survival in the tightening healthcare market will depend on sound strategic decisions regarding the physician group's mission as well as its relationship to its hospital partners and other delivery systems. To support these strategic decisions, a solid knowledge base and a thorough understanding of the terms and provisions regarding the formulation of these new relationships are necessary. The budget methodology is a relatively straightforward approach to establishing a capitation. Careful consideration will have to be given to the method of allocating the capitation among providers. A special concern is the risk-sharing arrangement with primary care physicians.

  12. Characteristics of nuclear contracts. Pt. 2

    International Nuclear Information System (INIS)

    Blanchard, R.

    1976-01-01

    When nuclear contracts are concluded account should be taken of their conditions of validity: the capacity of parties to undertake such commitment, freedom of consent, accuracy and observance of formalities. Once concluded, the contract is binding for the parties, subject to certain restrictions such as the theory of the unforeseeable. The party which fails to execute the contract is subject to sanctions. In an agreement covering the supply of a nuclear installation or equipment, various documents are attached to the contract proper, i.e. the technical instructions, the invoice and the estimate. The special clauses in nuclear contracts, include inter alia the special obligations imposed on the staff of the undertakings, the requirements to take out third party liability insurance, the very stringent conditions regarding taking over the installations and the guarantee (NEA) [fr

  13. Insurances in the petroleum industry; Seguros na industria do petroleo

    Energy Technology Data Exchange (ETDEWEB)

    Lima, Juliana S.F. [IRB-Brasil Resseguros, Rio de Janeiro, RJ (Brazil)

    2004-07-01

    This work shows an overview, focused mainly Brazil, of the insurance branch that deals with the upstream activities. The oil industry represents a substantial exposition for insurance international market because of the catastrophic nature of its risks, that entails a capacity dependency. The most of Insurance split into several insurers and reinsurer and are distributed into several markets and several regions of the world. The oil and gas branch of insurance covers: physical damage to equipment (platforms, vessels, drill ship etc), build, operation and liability in consequence of claims. The contract of insurance is complex because it is specific and demands much negotiation of rates and conditions. Moreover it is needed to find reliable insurers which want to accept the risk. There are alternatives to insurance market created by oil companies such as Captive and Mutual companies. The insurance international market built a complex and customized structure in order to be able to offer coverage to upstream risks and to participate in the amounts related to oil and gas production. (author)

  14. FEATURES OF ACCOUNTING AND AUDIT OF INSURANCE ORGANIZATIONS IN UKRAINE

    Directory of Open Access Journals (Sweden)

    А. Sholoiko

    2015-04-01

    Full Text Available Features of accounting and audit of insurance organizations in Ukraine that are based on the specific characteristics of the insurance activity and legislation are considered. The main of them are the next: the proper organization of accounting is a necessary condition of the activity of the financial institution; there are three groups of requirements to accounting of insurer, including: accounting of contracts; accounting of insurance reserves, formation financial reports in the Ukrainian insurance legislation; the use of IFRS instead of national accounting standards in preparing financial reports of insurance organizations in Ukraine is obligatory and despite of this compilation of primary documents and application of National Chart of Accounts by insurance organizations of Ukraine remains mandatory; it is necessary to follow the frequency of reporting according to national legislation; insurance companies are classified as institutions that must necessarily publish annual financial statements together with the auditor’s report about its accuracy, and this category of institutions are prohibited from using such form of organization of accounting and reporting as directly by the owner or the head of organization; audit of the annual financial statements and consolidated financial statements of insurance companies is mandatory and conducted in accordance with International quality control, auditing, review, other assurance, and related services pronouncements which adopted as national auditing standards by the Audit Chamber of Ukraine. These generalizations are done to make possible the further investigations of developing and improving in this field.

  15. Innovative insurance plan promises to leverage green power

    International Nuclear Information System (INIS)

    Edge, Gordon

    1999-01-01

    This article explains the gap between customers of green power signing short term (1-2 year) contracts and the banks wanting power purchase agreements for ten or more years before lending on new projects. Details are given of a new initiative from the US green power industry for a green premium for green power marketeers with the idea of an insurance product to take some of the risk and bridge the gap. Examples of coverage under the green power insurance proposal are discussed, and the funding and implementation of the scheme, and the effect of the insurance are considered

  16. Contract Design: Financial Options and Risk

    Directory of Open Access Journals (Sweden)

    Axel C. Mühlbacher

    2018-01-01

    Full Text Available Introduction: Integrated care systems as well as accountable care organisations (ACOs in the US and similar concepts in other countries are advocated as an effective method of improving the performance of healthcare systems. These systems outline a payment and care delivery model that intends to tie provider reimbursements to predefined quality metrics. By this the total costs of care shall be reduced. When designing healthcare options contractors are faced with a variety of financial options. The costs of market utilisation are highly relevant for the conception of healthcare contracts; furthermore contract-specific investments are an obstacle to the efficient operation of ACOs.  Methods: A comprehensive literature review on methods of designing contracts in Integrated Care was conducted. This article is the second in a row of three that are all published in this issue and contribute to a specific issue in designing healthcare contracts. The first dealt with the organisation of contracts and information asymmetries, while part 3 concludes with the question of risk management and evaluation. The specific research question of this second article focusses on the financial options and reimbursement schemes that are available to define healthcare contracts.  Results: A healthcare contract is a relational contract, which determines the level of reimbursement, the scope of services and the quality between service providers and payers, taking account of the risks relating to population and performance. A relational contract is an agreement based upon assumption of a longer timeframe. A major obstacle to the practical implementation of healthcare contracts is the prognosis of the inflows and outflows due to the actuarial risks of the insured population. Financing conditions and reimbursement arrangements that are based on a prospectively determined fixed price, have a significant drawback: it is very difficult to take the differences in health status

  17. Contract Design: Financial Options and Risk.

    Science.gov (United States)

    Mühlbacher, Axel C; Amelung, Volker E; Juhnke, Christin

    2018-01-12

    Integrated care systems as well as accountable care organisations (ACOs) in the US and similar concepts in other countries are advocated as an effective method of improving the performance of healthcare systems. These systems outline a payment and care delivery model that intends to tie provider reimbursements to predefined quality metrics. By this the total costs of care shall be reduced. When designing healthcare options contractors are faced with a variety of financial options. The costs of market utilisation are highly relevant for the conception of healthcare contracts; furthermore contract-specific investments are an obstacle to the efficient operation of ACOs. A comprehensive literature review on methods of designing contracts in Integrated Care was conducted. This article is the second in a row of three that are all published in this issue and contribute to a specific issue in designing healthcare contracts. The first dealt with the organisation of contracts and information asymmetries, while part 3 concludes with the question of risk management and evaluation. The specific research question of this second article focusses on the financial options and reimbursement schemes that are available to define healthcare contracts. A healthcare contract is a relational contract, which determines the level of reimbursement, the scope of services and the quality between service providers and payers, taking account of the risks relating to population and performance. A relational contract is an agreement based upon assumption of a longer timeframe. A major obstacle to the practical implementation of healthcare contracts is the prognosis of the inflows and outflows due to the actuarial risks of the insured population. Financing conditions and reimbursement arrangements that are based on a prospectively determined fixed price, have a significant drawback: it is very difficult to take the differences in health status and the utilisation of distinct insured clientele

  18. Contract Farming: Conceptual Framework and Indian Panorama

    Directory of Open Access Journals (Sweden)

    Amit Kumar Chakrabarty

    2015-01-01

    Full Text Available This paper deals with conceptual framework of contract farming and portrays Indian scenario especially after announcement of National Agricultural Policy (2000 which encouraged private participation through contract farming. The conception of contract farming is not new in India, but it gets momentum in the era of agricultural globalization, as an alternative method of farming. The study reveals that while contract farming can be effective in introducing new technologies and providing external inputs to farmers, danger lies in firms extending technologies that bring financial benefits in the short-term but result in negative long-term health and environmental impacts. Contract farming is not appropriate for all types of crops. To have a significant poverty impact, crops produced under contract farming should be labour-intensive rather than input-intensive and should be appropriate for production on small plots of land. Since the contracting company is financially stronger than individual farmers, the terms of the contract may go against the farmers. Herein the government will have to come forward.

  19. CIVIL LIABILITY OF DOCTORS AND THEIR INSURANCE (MALPRACTICE

    Directory of Open Access Journals (Sweden)

    Gârbo Viorica Irina

    2013-07-01

    Full Text Available Malpractice insurance of medical staff is probably the oldest professional liability insurance underwritten in the insurance market in Romania. The aim of our research is to theoretically examine in a qualitative inquiry the usefulness of insurance completion by the practitioners from the Romanian health system at both state and private, in order to improve a best practice medical insurance. The medical profession is practiced in Romania under the Code of Medical Ethics 30 March 2012 prepared in code that complies with international standards contained in the Geneva Declaration of 1948, as amended by the World Medical Association and the International Code of Medical Ethics. The forms of medical liability are: disciplinary, administrative, civil and criminal and only the civil liability can be taken into insurance because only it meets the conditions of insurability. Once we explain in general and the insurance liability in particular we show articles of the Romanian Civil Code which establishes the obligation the one that caused an injury to a third person for the repair or indemnify and conditions provided by the Civil Code as an act to be considered liability. Then we refer to situations where the patient may be damaged through the fault of the doctor or the doctor unit operates. The object of malpractice insurance is loss of money that the insured would have to pay a patient whom he caused injury as a result of acts or deeds of negligence committed to, during and in relation to professional activity. Risks taken in the insurance are personal injury, illness or death of the patient and / or moral damages. Regarding the excluded risks we have presented an overview of the more common contracts underwritten by Romanian insurance companies. We show the way of underwriting, the insured sums of the standard insurance and the additional one which subscribes moral damages, to companies in Romania agreed by bodies which organize and supervise the

  20. Marketing in life insurance

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2006-01-01

    Full Text Available Insurance industry has traditionally been oriented on sale of its products i.e. at the stage which from the aspect of marketing theory can be characterized as sales phase, phase which proceeds the marketing orientation. However, faced with numerous challenges of modern business environment such as globalization, deregulation and sophisticated information technology insurance companies must change their way of doing business. Competition is becoming fierce as insurance companies are faced with competition not only from insurance industry but also from other competitors, such as banks, that are in position to offer product substitutes for life insurance products. In this new environment information about customers and their education are becoming critical factors. Insurance companies must know their customers what influences their demand for life insurance, what is the amount of their income, what is inflation rate, their expenditures on other goods i.e. opportunity costs, etc. Those are factors that force insurance companies to concentrate more on present and potential buyers and their needs and force them to give their best to satisfy those needs in a way that will produce delighted customers.

  1. Uninsured vs. insured population

    DEFF Research Database (Denmark)

    Andersen, Z. J.; Lin, Chyongchiou J; Chang, Chung-Chou H

    2003-01-01

    This study identified the underlying demographic and socioeconomic factors associated with insurance status among nonelderly Americans (age 19-64), as well as compared health care utilization between insured and uninsured. Data from the Community Tracking Study 1996-1997 Household Survey were ana...

  2. Forest insurance number.

    Science.gov (United States)

    Thornton T. Munger; H.B. Shepard

    1934-01-01

    This inquiry, originally conceived as an effort to determine definitely whether the existing lack of adequate and practical forest fire insurance facilities is in truth unavoidable and, if possible, to suggest means whereby the condition might be remedied, finds no apparent reason why successful forest fire insurance should not be possible as far as the loss situation...

  3. Social health insurance

    CERN Document Server

    International Labour Office. Geneva

    1997-01-01

    This manual provides an overview of social health insurance schemes and looks at the development of health care policies and feasibility issues. It also examines the design of health insurance schemes, health care benefits, financing and costs and considers the operational and strategic information requirements.

  4. Insurance Discounts: Traffic Safety Tips

    Science.gov (United States)

    1996-01-01

    This fact sheet, NHTSA Facts: Summer 1996, discusses automobile insurance discounts. It relates how to obtain a discount, and details what factors can influence insurance premiums. It notes that discounts for safety features vary from insurance compa...

  5. Disposition of Insurance Allotment Payments

    National Research Council Canada - National Science Library

    Young, Shelton

    2001-01-01

    .... The request was prompted by action taken by the Florida Department of Insurance against two life insurance companies that had received large numbers of insurance allotments from Service members...

  6. Insurance Coverage and Clinical Trials

    Science.gov (United States)

    Most health insurance plans are required to cover routine patient care costs in clinical trials under certain conditions. Learn about the conditions that insurance plans take into account and how to work with your insurance company.

  7. Terrorism Risk Insurance: An Overview

    National Research Council Canada - National Science Library

    Webel, Baird

    2005-01-01

    .... Addressing this problem, Congress enacted the Terrorism Risk Insurance Act of 2002 (TRIA) to create a temporary program to share future insured terrorism losses with the property-casualty insurance industry and policyholders...

  8. Unemployment Insurance and Inequality

    DEFF Research Database (Denmark)

    Larsen, Birthe; Waisman, Gisela

    This paper examines the impact of higher unemployment insurance on the fraction of the work force paying into an unemployment insurance fond, wage differences and therefore inquality and education letting worker initial wealth being important for the decisions and implied values. As usually higher...... educated workers receive a lower fraction of their wages as unemployment insurance, we consider how the impact on labour market performance and wage differences and thereby inequality differ dependent on whether educated or uneducated workers receive higher benefits. The model can help shed light...... on the the puzzle why only some workers, for given educational level, pay into an unemployment insurance fond, the lower wealth mobility than income mobility as well as the relative compressed wage structure in countries with generous social assistance as well as unemployment insurance for low income workers...

  9. Health insurance for "frontaliers"

    CERN Multimedia

    2013-01-01

    The French government has decided that, with effect from 1 June 2014, persons resident in France but working in Switzerland (hereinafter referred to as “frontaliers”) will no longer be entitled to opt for private French health insurance provision as their sole and principal health insurance.   The right of choice, which was granted by the Bilateral Agreement on the Free Movement of Persons between Switzerland and the European Union and which came into force on 1 June 2002, exempts “frontaliers” from the obligation to become a member of Switzerland’s compulsory health insurance scheme (LAMal) if they can prove that they have equivalent coverage in France, provided by either the French social security system (CMU) or a private French insurance provider. As the latter option of private health insurance as an alternative to membership of LAMal will be revoked under the new French legislation that will come into force on 1 June 2014, current “...

  10. Nuclear liability - nuclear insurance

    International Nuclear Information System (INIS)

    Roesch, H.

    1981-01-01

    In the fourth concluding article on this subject (following articles in VW 1981 pp. 483, 552 and 629), the author explains procedures, duties and obligations according to the Para. Para. 5, 6 and 7 of the AHBKA. These obligations are to be observed before or after the occurrence of damages. In addition, legal consequences following violations of duties - loss of right - joint, insurance, transfer ban, period for filing suit, duty to notify, 'The German Nuclear Reactor Insurance and Reinsurance Community', the insurance according to the 'General terms and conditions governing the liability insurance of licensed activities involving nuclear fuels and other radioactive substances outside nuclear installations (AHBStr.)', object, beginning and exclusion of coverage, 'Special conditions governing the transport of nuclear fuels according to Para. 25 (2) of the Atomic Energy Law' are attached to the General Terms and Conditions governing the liability insurance of licenced activities involving nuclear fuels and other radioactive substances outside nuclear installations. (HSCH) [de

  11. Insurance: Accounting, Regulation, Actuarial Science

    OpenAIRE

    Alain Tosetti; Thomas Behar; Michel Fromenteau; Stéphane Ménart

    2001-01-01

    We shall be examining the following topics: (i) basic frameworks for accounting and for statutory insurance rules; and (ii) actuarial principles of insurance; for both life and nonlife (i.e. casualty and property) insurance.Section 1 introduces insurance terminology, regarding what an operation must include in order to be an insurance operation (the legal, statistical, financial or economic aspects), and introduces the accounting and regulation frameworks and the two actuarial models of insur...

  12. Rice crop risk map in Babahoyo canton (Ecuador)

    Science.gov (United States)

    Valverde Arias, Omar; Tarquis, Ana; Garrido, Alberto

    2016-04-01

    It is widely known that extreme climatic phenomena occur with more intensity and frequency. This fact has put more pressure over farming, making agricultural and livestock production riskier. In order to reduce hazards and economic loses that could jeopardize farmer's incomes and even its business continuity, it is very important to implement agriculture risk management plans by governments and institutions. One of the main strategies is transfer risk by agriculture insurance. Agriculture insurance based in indexes has a significant growth in the last decade. And consist in a comparison between measured index values with a defined threshold that triggers damage losses. However, based index insurance could not be based on an isolated measurement. It is necessary to be integrated in a complete monitoring system that uses many sources of information and tools. For example, index influence areas, crop production risk maps, crop yields, claim statistics, and so on. Crop production risk is related with yield variation of crops and livestock, due to weather, pests, diseases, and other factors that affect both the quantity and quality of commodities produced. This is the risk which farmers invest more time managing, and it is completely under their control. The aim of this study is generate a crop risk map of rice that can provide risk manager important information about the status of crop facing production risks. Then, based on this information, it will be possible to make best decisions to deal with production risk. The rice crop risk map was generated qualifying a 1:25000 scale soil and climatic map of Babahoyo canton, which is located in coast region of Ecuador, where rice is one of the main crops. The methodology to obtain crop risk map starts by establishing rice crop requirements and indentifying the risks associated with this crop. A second step is to evaluate soil and climatic conditions of the study area related to optimal crop requirements. Based on it, we can

  13. The high cost of fine print. Antitrust case against a major Blue Cross plan may redefine terms of contract negotiations.

    Science.gov (United States)

    Evans, Melanie; Blesch, Gregg

    2010-10-25

    With its challenge to Michigan Blues contracts with some hospitals, the Justice Department is doing something it hasn't in more than 10 years. The move means insurers need to carefully vet contracts for similar issues. "This signals they're still in the enforcement business as it relates to healthcare insurance," says lawyer David Marx Jr.

  14. Actuarial modeling of cost of voluntary pension insurance of the population of the region

    Directory of Open Access Journals (Sweden)

    Mikhailova Svetlana Sergeevna

    2013-06-01

    Full Text Available In article approach to determination of net value of the contract of pension insurance for the man's and female population, considering regional demographic features is offered. Results of actuarial calculation of the size pure net - rates of individual pension insurance are presented, "sensitivity" of cost of insurance is defined by methods of statistical modeling to key parameters of a pension product for the region population.

  15. CJEU rules on use of standards in imposing information duties on life insurance companies

    NARCIS (Netherlands)

    Mańko, R.

    2015-01-01

    The EU Directive applicable to life insurance sets out what kind of information insurance companies must give to policyholders. It also allows Member States to impose broader information duties, provided that the information is necessary for the policyholder to understand the contract. In its ruling

  16. 78 FR 75581 - Minnesota Life Insurance Company, et al.; Notice of Application

    Science.gov (United States)

    2013-12-12

    ... Contracts, Minnesota Life reserves the right to increase or decrease the amount of the Credit Enhancement or... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-30821; File No. 812-14158] Minnesota Life...: Minnesota Life Insurance Company (``Minnesota Life'' or ``Insurance Company''), Variable Annuity Account...

  17. 24 CFR 266.608 - Mortgage insurance premium: Pro rata refund.

    Science.gov (United States)

    2010-04-01

    ... rata refund. 266.608 Section 266.608 Housing and Urban Development Regulations Relating to Housing and... premium: Pro rata refund. If the Contract of Insurance is terminated by payment in full or is terminated... account. In computing the pro rata portion of the annual mortgage insurance premium, the date of...

  18. Selection Behavior in the Market for Private Complementary Long-term Care Insurance in Germany

    DEFF Research Database (Denmark)

    Bauer, Jan; Schiller, Jörg; Schreckenberger, Christopher

    In this paper, we analyze selection effects in the German market for private complementary longterm care insurance contracts (CompLTCI) within a static and dynamic framework. Using data on more than 98,000 individuals from a German insurance company, we provide evidence that advantageous selection...

  19. Types of contracts and contracting procedures

    International Nuclear Information System (INIS)

    Zijl, N.A. van

    1977-01-01

    Contracting for a nuclear power plant can be carried out in many different ways, from a bilateral agreement between two countries to an international open bidding competition. Also the kind of contracts (turnkey, split-package or multi-contract type) are discussed with their pros and cons as well as the contracting procedures which can be followed to come to the conclusion of a contract. (orig.) [de

  20. Health insurance basic actuarial models

    CERN Document Server

    Pitacco, Ermanno

    2014-01-01

    Health Insurance aims at filling a gap in actuarial literature, attempting to solve the frequent misunderstanding in regards to both the purpose and the contents of health insurance products (and ‘protection products’, more generally) on the one hand, and the relevant actuarial structures on the other. In order to cover the basic principles regarding health insurance techniques, the first few chapters in this book are mainly devoted to the need for health insurance and a description of insurance products in this area (sickness insurance, accident insurance, critical illness covers, income protection, long-term care insurance, health-related benefits as riders to life insurance policies). An introduction to general actuarial and risk-management issues follows. Basic actuarial models are presented for sickness insurance and income protection (i.e. disability annuities). Several numerical examples help the reader understand the main features of pricing and reserving in the health insurance area. A short int...

  1. Insurability of Terrorism Risks

    International Nuclear Information System (INIS)

    Harbruecker, D.

    2006-01-01

    Until 2001 losses caused by terrorist attacks have been covered under fire policies worldwide with two exceptions: Spain and UK where major and multiple losses caused by ETA and IRA had led to specific insurance solutions. The September 11, 2001 attacks on the World Trade Centre have changed the world in many aspects. This includes the insurance industry, which was compelled to exclude terrorism from coverage and to offer special solutions for extra premium. Nuclear power plants have been repeatedly called targets for terrorists as their destruction could cause a large catastrophe and more victims than the September 2001 attacks. How does the insurance industry respond? (author)

  2. Adverse weather impacts on arable cropping systems

    Science.gov (United States)

    Gobin, Anne

    2016-04-01

    meteorological risks and subsequently relating the risk to the cropping calendar will be demonstrated for major arable crops in Belgium. Physically based crop models assist in understanding the links between adverse weather events, sensitive crop stages and crop damage. Financial support was obtained from Belspo under research contract SD/RI/03A.

  3. Optimum amount of an insurance sum in life insurance

    Directory of Open Access Journals (Sweden)

    Janez Balkovec

    2001-01-01

    Full Text Available Personal insurance represents one of the sources of personal social security as a category of personal property. How to get a proper life insurance is a frequently asked question. When insuring material objects (car, house..., the problem is usually not in the amount of the taken insurance. With life insurance (abstract goods, problems as such occur. In this paper, we wish to present a model that, according to the financial situation and the anticipated future, makes it possible to calculate the optimum insurance sum in life insurance.

  4. 7 CFR 632.19 - Crop history and allotments.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Crop history and allotments. 632.19 Section 632.19 Agriculture Regulations of the Department of Agriculture (Continued) NATURAL RESOURCES CONSERVATION SERVICE, DEPARTMENT OF AGRICULTURE LONG TERM CONTRACTING RURAL ABANDONED MINE PROGRAM Qualifications § 632.19 Crop...

  5. Vaccines as Epidemic Insurance

    Directory of Open Access Journals (Sweden)

    Mark V. Pauly

    2017-10-01

    Full Text Available This paper explores the relationship between the research for and development of vaccines against global pandemics and insurance. It shows that development in advance of pandemics of a portfolio of effective and government-approved vaccines does have some insurance properties: it requires incurring costs that are certain (the costs of discovering, developing, and testing vaccines in return for protection against large losses (if a pandemic treatable with one of the vaccines occurs but also with the possibility of no benefit (from a vaccine against a disease that never reaches the pandemic stage. It then argues that insurance against the latter event might usefully be offered to organizations developing vaccines, and explores the benefits of insurance payments to or on behalf of countries who suffer from unpredictable pandemics. These ideas are then related to recent government, industry, and philanthropic efforts to develop better policies to make vaccines against pandemics available on a timely basis.

  6. HUD Insured Hospitals

    Data.gov (United States)

    Department of Housing and Urban Development — The Office of Healthcare Programs (OHP), previously known as the Office of Insured Health Care Facilities, is located within the Office of Housing and administers...

  7. M. Nuclear insurance

    International Nuclear Information System (INIS)

    1976-01-01

    Nuclear insurance and some of the features associated with it, such as the International Conventions and the operation of Atomic Risk Pools, are discussed both in general and with specific reference to the USA, Canada and the United Kingdom

  8. A survey on critical factors influencing agricultural insurance

    Directory of Open Access Journals (Sweden)

    Ali Valipour

    2013-01-01

    Full Text Available Agricultural business is a very high-risk job and an increase demand for agricultural products from one side and steady increase in production cost and weather changes, on the other side, have motivated many to use insurance for agricultural products. Insurance plays an important role in influencing crop production and insured satisfaction or farmers. The purpose of this research is to find critical components in agricultural insurance. Based on an exploration of the literature review and interviews, the proposed study of this paper extracts 24 variables and using factor analysis, we select the most important factors, which are grouped in seven categories. The implementation of our factor analysis has revealed uncertainty, moderator, market equilibrium, risky environment, empowering factor, education, training, structural hazards and natural ecosystems as the most important factors influencing agricultural industry.

  9. Insurance of operators liability: the reality principle

    International Nuclear Information System (INIS)

    Allegre, J.

    2000-01-01

    The author's observations commence with -an overview of the principal amendments proposed in relation to the revision of the Paris Convention, in particular the inclusion of preventive measures, the definition of nuclear damage, the notion of reasonableness in respect of preventive measures and measures of reinstatement, increased liability amounts and extended prescription periods. He examines to what extent the insurance industry of today would be able to cover such risks, and the problems or doubts that it may encounter in doing so. This presentation also raises other questions which as yet remain unanswered, in particular the question of priorities and the role that complementary funding, namely the Brussels Supplementary Convention, will play in compensating victims. The author concludes by commenting on the current state of the insurance market. He suggests that before making irreversible political decisions in this field, Contracting Parties should, inter alia, carry out detailed analyses on the adequacy of the financial guarantees, in order to attain existing objectives and eliminate the obstacles which prevent the nuclear insurance market from being a competitive one. The author suggests that it might be in the interests of European nuclear operators to promote an insurance mechanism along the same lines as their American colleagues. (author)

  10. Aspects of Valuation and Optimization in Life Insurance

    DEFF Research Database (Denmark)

    Henriksen, Lars Frederik Brandt

    -case scenarios and reserves in a life insurance model in the case where the interest rate and the various transition intensities are mutually dependent. The calculations are based on deterministic optimal control theory. The results of a single insurance contract are extended to inhomogeneous portfolios....... In the first paper, we consider a market where the interest rate and mortality intensity are modelled as ane processes. The market consists of zero coupon bonds and longevity bonds and we do not assume that the price processes are martingales under the real measure. In this setup we find an optimal hedging...... strategy for a portfolio of general life insurance contracts by using the criterion of local risk-minimization. The second paper studies expected policyholder behavior in a multistate Markov chain model with deterministic intensities. Valuation techniques in the cases where policyholder behavior...

  11. A Two-Account Life Insurance Model for Scenario-Based Valuation Including Event Risk

    DEFF Research Database (Denmark)

    Jensen, Ninna Reitzel; Schomacker, Kristian Juul

    2015-01-01

    Using a two-account model with event risk, we model life insurance contracts taking into account both guaranteed and non-guaranteed payments in participating life insurance as well as in unit-linked insurance. Here, event risk is used as a generic term for life insurance events, such as death......, disability, etc. In our treatment of participating life insurance, we have special focus on the bonus schemes “consolidation” and “additional benefits”, and one goal is to formalize how these work and interact. Another goal is to describe similarities and differences between participating life insurance...... and unit-linked insurance. By use of a two-account model, we are able to illustrate general concepts without making the model too abstract. To allow for complicated financial markets without dramatically increasing the mathematical complexity, we focus on economic scenarios. We illustrate the use of our...

  12. School Building Projects: Managing Insurance and Contracts during Construction

    Science.gov (United States)

    Shands, Richard

    2011-01-01

    Managing the risks inherent in a building project presents a challenge and opportunities not often encountered in the ordinary affairs of a school district. A building project brings the district, its staff, and students, as well as the community, in close contact with architects and engineers and a number of contractors for a period of time often…

  13. Incorporating model uncertainty into optimal insurance contract design

    OpenAIRE

    Pflug, G.; Timonina-Farkas, A.; Hochrainer-Stigler, S.

    2017-01-01

    In stochastic optimization models, the optimal solution heavily depends on the selected probability model for the scenarios. However, the scenario models are typically chosen on the basis of statistical estimates and are therefore subject to model error. We demonstrate here how the model uncertainty can be incorporated into the decision making process. We use a nonparametric approach for quantifying the model uncertainty and a minimax setup to find model-robust solutions. The method is illust...

  14. 7 CFR 457.141 - Rice crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... commonly used for rice production whereby the planted acreage is intentionally covered with water that is... Standards for Rice including, but not limited to, protein and oil content or milling quality will not be... of the following methods: (a) Drill seeding—Using a grain drill to incorporate the seed to a proper...

  15. 7 CFR 457.142 - Northern potato crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ...; Michigan; Minnesota; Montana; Nebraska; Nevada; San Juan County, New Mexico; New York; North Dakota; Ohio... soil surface. Hundredweight. One hundred (100) pounds avoirdupois. Local market. The area in which the... Special Provisions); (c) Planted for harvest as certified seed stock, or for human consumption, (unless...

  16. Crop Insurance Inaccurate FCIC Price Forecasts Increase Program Costs

    National Research Council Canada - National Science Library

    1991-01-01

    ...) how FCIC can improve its forecast accuracy. We found that FCIC's corn, wheat, and soybeans price forecasts exhibit large bias errors that exceed those of other available alternative forecasts and that FCIC would have spent...

  17. 7 CFR 457.135 - Onion crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... marketing order or other standards that may be contained in the Special Provisions. Direct Marketing. Sale... wholesaler, retailer, packer, processor, shipper or buyer. Examples of direct marketing include selling... generally milder in flavor than storage onions. Due to a higher moisture and sugar content, they are subject...

  18. 7 CFR 457.168 - Mustard crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... contained in the Basic Provisions, mustard seed must be planted in rows. Acreage planted in any other manner... placing into windrows without removal of the seed from the pod. Type. A category of mustard identified as... Directive for Inspection of Mustard Seed, provided by the Federal Grain Inspection Service or such other...

  19. 7 CFR 457.125 - Safflower crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... on land on which safflower, sunflower seed, any variety of dry beans, soybeans, mustard, rapeseed, or... Harvest. Collecting the safflower seed by combining or threshing. Local market price. The cash price per pound for undamaged safflower (test weight of 35 pounds per bushel or higher and seed damage less than...

  20. 7 CFR 457.118 - Malting barley crop insurance.

    Science.gov (United States)

    2010-01-01

    ... such in the Special Provisions. (c) Brewery. A facility where malt beverages are commercially produced... qualified person using standardized equipment that is widely used in the malting industry, and following a... Service when determining quality factors other than percent germination or protein content; or by the Food...

  1. 7 CFR 457.110 - Fig crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... of quarantine, boycott, or refusal of any entity to accept production. 11. Settlement of Claim (a) We... to abandon and no longer care for if you and we agree on the appraised amount of production. Upon... the appraised amount of production is not reached: (A) We may require you to continue to care for the...

  2. 7 CFR 457.132 - Cranberry crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... if you are unable to market due to quarantine, boycott, or refusal of any person to accept production... abandon or no longer care for, if you and we agree on the appraised amount of production. Upon such... use the appraised amount of production or defer the claim if you agree to continue to care for the...

  3. 7 CFR 457.153 - Peach crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... type if applicable: (1) Any damage, removal of or addition of trees, or change in practices, or any... exists among the policy provisions, the order of priority is as follows: (1) The Catastrophic Risk... Guarantees, Coverage Levels, and Prices for Determining Indemnities In addition to the requirements of...

  4. 7 CFR 457.113 - Coarse grains crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ..., Winkler, Ector, Upton, Reagan, Sterling, Coke, Tom Green, Concho, McCulloch, San Saba, Mills, Hamilton...; Nevada; North Carolina; and South Carolina; and El Paso, Hudspeth, Culberson, Reeves, Loving, Winkler...

  5. 7 CFR 457.134 - Peanut crop insurance provisions.

    Science.gov (United States)

    2010-01-01

    ... termination dates are: State and county Dates Jackson, Victoria, Golliad, Bee, Live Oak, McMullen, La Salle, and Dimmit Counties, Texas and all Texas Counties lying south, thereof January 15. El Paso, Hudspeth, Culberson, Reeves, Loving, Winkler, Ector, Upton, Reagan, Sterling, Coke, Tom Green, Concho, McCulloch, San...

  6. 77 FR 72920 - Federal Housing Administration (FHA) Section 232 Healthcare Mortgage Insurance Program: Partial...

    Science.gov (United States)

    2012-12-07

    ... accept and pay a partial payment of a claim under the FHA mortgage insurance contract. The Section 232... facilities. Through acceptance and payment of a partial payment of claim, FHA pays the lender a portion of... basic contract and eligibility requirements, are governed by the regulations applicable to HUD's...

  7. Health-based risk neutralization in private disability insurance

    Science.gov (United States)

    Buitenhuis, Jan; Brouwer, Sandra; van der Klink, Jac J.L.; de Boer, Michiel R.

    2016-01-01

    Background: Exclusions are used by insurers to neutralize higher than average risks of sickness absence (SA). However, differentiating risk groups according to one’s medical situation can be seen as discrimination against people with health problems in violation of a 2006 United Nations convention. The objective of this study is to investigate whether the risk of SA of insured persons with exclusions added to their insurance contract differs from the risk of persons without exclusions. Methods: A dynamic cohort of 15 632 applicants for private disability insurance at a company insuring only college and university educated self-employed in the Netherlands. Mean follow-up was 8.94 years. Duration and number of SA periods were derived from insurance data to calculate the hazard of SA periods and of recurrence of SA periods. Results: Self-employed with an exclusion added to their insurance policy experienced a higher hazard of one or more periods of SA and on average more SA days than self-employed without an exclusion. Conclusion: Persons with an exclusion had a higher risk of SA than persons without an exclusion. The question to what extent an individual should benefit from being less vulnerable to disease and SA must be addressed in a larger societal context, taking other aspects of health inequality and solidarity into account as well. PMID:27371668

  8. Health-based risk neutralization in private disability insurance.

    Science.gov (United States)

    Wijnvoord, Elisabeth C; Buitenhuis, Jan; Brouwer, Sandra; van der Klink, Jac J L; de Boer, Michiel R

    2016-12-01

    Exclusions are used by insurers to neutralize higher than average risks of sickness absence (SA). However, differentiating risk groups according to one's medical situation can be seen as discrimination against people with health problems in violation of a 2006 United Nations convention. The objective of this study is to investigate whether the risk of SA of insured persons with exclusions added to their insurance contract differs from the risk of persons without exclusions. A dynamic cohort of 15 632 applicants for private disability insurance at a company insuring only college and university educated self-employed in the Netherlands. Mean follow-up was 8.94 years. Duration and number of SA periods were derived from insurance data to calculate the hazard of SA periods and of recurrence of SA periods. Self-employed with an exclusion added to their insurance policy experienced a higher hazard of one or more periods of SA and on average more SA days than self-employed without an exclusion. Persons with an exclusion had a higher risk of SA than persons without an exclusion. The question to what extent an individual should benefit from being less vulnerable to disease and SA must be addressed in a larger societal context, taking other aspects of health inequality and solidarity into account as well. © The Author 2016. Published by Oxford University Press on behalf of the European Public Health Association.

  9. Serbian insurance market: Select issues

    Directory of Open Access Journals (Sweden)

    Obadović Mirjana M.

    2010-01-01

    Full Text Available Every day insurance companies face a number of risks arising from the insurance industry itself, as well as risks arising from insurance company operations. In this constant fight against risks insurance companies use different models and methods that help them better understand, have a more comprehensive view of, and develop greater tolerance towards risks, in order to reduce their exposure to these risks. The model presented in this paper has been developed for implementation in insurance risk management directly related to insurance company risk, i.e. it is a model that can reliably determine the manner and intensity with which deviations in the initial insurance risk assessment affect insurance company operations, in the form of changes in operational risks and consequently in insurance companies’ business strategies. Additionally we present the implementation of the model in the Serbian market for the period 2005-2010.

  10. Dental insurance! Are we ready?

    Directory of Open Access Journals (Sweden)

    Ravi SS Toor

    2011-01-01

    Full Text Available Dental insurance is insurance designed to pay the costs associated with dental care. The Foreign Direct Investment (FDI bill which was put forward in the winter session of the Lok Sabha (2008 focused on increasing the foreign investment share from the existing 26% to 49% in the insurance companies of India. This will allow the multibillion dollar international insurance companies to enter the Indian market and subsequently cover all aspects of insurance in India. Dental insurance will be an integral a part of this system. Dental insurance is a new concept in Southeast Asia as very few countries in Southeast Asia cover this aspect of insurance. It is important that the dentists in India should be acquainted with the different types of plans these companies are going to offer and about a new relationship which is going to emerge in the coming years between dentist, patient and the insurance company.

  11. Criteria for the future division of labor between private and social health insurance.

    Science.gov (United States)

    Zweifel, P

    2000-01-01

    This article's point of departure is that the individual has to manage three stochastic assets, namely health, wealth, and wisdom (skills), which tend to be positively correlated. It shows that the unexpected components of insurance payments should be negatively correlated for minimizing total asset volatility. The empirical finding is that in the United States, Japan, and Germany, the lines of social insurance contribute less to diversification than do those of private insurance. The article concludes with suggestions for new, umbrella-type insurance contracts that in the future should help individuals in the efficient management of their assets.

  12. Biogas from ley crops

    International Nuclear Information System (INIS)

    Dalemo, M.; Edstroem, M.; Thyselius, L.; Brolin, L.

    1993-01-01

    This report describes the cost of producing biogas from energy crops. Five process systems, sized 0.25-8 MW are studied. The cultivation of biogas-crops is made in three regions in Sweden. Also valued are the positive cultivation effects obtained when cereal dominated crop rotation is broken by biogas crops. 8 refs, 40 figs, 10 tabs

  13. African Crop Science Journal

    African Journals Online (AJOL)

    The African Crop Science Journal, a quarterly publication, publishes original research papers dealing with all aspects of crop agronomy, production, genetics and breeding, germplasm, crop protection, post harvest systems and utilisation, agro-forestry, crop-animal interactions, information science, environmental science ...

  14. Insurance against nuclear risks

    International Nuclear Information System (INIS)

    Dow, J.C.

    1976-01-01

    Virtually any type of nuclear risk is insurable in principle, providing, of course, that the necessary standards of safety and control are met. Some of the risks are of a relatively minor character and no more hazardous than a simple conventional risk. But insurers would not consider as a minor risk anything which involves the use of nuclear fuel or other nuclear materials which are in a critical state or capable of releasing dangerous levels of radioactivity. These would include nuclear reactors or, indeed, any type of assembly which can not be regarded as subcritical. Most insurers would also regard installations involved in the manufacturing, processing and enriching of nuclear fuel, and certainly those concerned with the reprocessing of irradiated fuel and plutonium extraction, as major risks. (HP) [de

  15. Improving index-based drought insurance in varying topography: evaluating basis risk based on perceptions of Nicaraguan hillside farmers.

    Directory of Open Access Journals (Sweden)

    André Kost

    Full Text Available This paper discusses a methodology to model precipitation indices and premium prices for index-based drought insurance for smallholders. Spatial basis risk, which is borne by the insured, is a problem, especially in variable topography. Also, site-specific drought risk needs to be estimated accurately in order to offer effective insurance cover and ensure financial sustainability of the insurance scheme. We explore farmers' perceptions on drought and spatial climate variability and draw conclusions concerning basis risk with regards to the proposed methodology. There are technically many options to represent natural heterogeneity in index insurance contracts while serving the customer adequately and keeping transaction costs low.

  16. COMPARATIVE ANALYSIS OF THE MAIN UNIT-LINKED INVESTMENT PROGRAMS PROPOSED BY THE ROMANIAN LIFE INSURANCE COMPANIES

    Directory of Open Access Journals (Sweden)

    CIUMAS Cristina

    2017-06-01

    Full Text Available An important component of the activity carried out by the insurance companies is the investment of the premiums paid by policyholders in various types of assets, in order to obtain higher yields than those guaranteed by the insurance contracts, while providing the necessary liquidity for the payment of insurance claims in case of occurrence of the assumed risks. This research contributes to the existing literature regarding the study of investment alternatives, with an exclusive focus on the investment in unit-linked life insurance. A special place in this study is the comparative analysis of the main unit-linked investment programs offered by Romanian insurance companies.

  17. Great Hanshin-Awaji earthquake and earthquake insurance on dwelling risks in Japan; Hanshin Awaji daishinsai to jishin hoken

    Energy Technology Data Exchange (ETDEWEB)

    Tawa, J. [The Marine and Fire Insurance Association of Japan, Tokyo (Japan)

    1996-02-15

    Japan is well-known as one of the earthquake countries. Although necessity of the earthquake insurance has been pointed out vigorously, it has not come out into the world due to the specialty of earthquake risk. Since the Great Niigata Earthquake in 1964, it has become a matter of concern of public interest and a law on the earthquake insurance was established in 1966. After that, drawing up of the maximum amount of earthquake insurance contract, extension of items applicable to the earthquake insurance, and drawing up of the maximum total payment for one earthquake disaster has been realized with the progress of social economy. With the Great Hanshin-Awaji Earthquake as a turning point, the law was revised again. Namely, dwelling houses and household effects have become the objects for insurance, which are belonged to the fire insurance of dwelling house (a main contract), and the earthquake insurance is set up in a range from 30% to 50% of the main contract. The maximum total payment for one earthquake disaster has been drawn to 3.1 trillion yen, in which the burden ratio between nonlife insurance companies and the government is decided according to the total amount. Additionally, this paper introduces the response of nonlife insurance trade to the Great Hanshin-Awaji Earthquake, and the damages evaluation by various nonlife insurance companies in the paralysis of traffic network. 5 refs., 1 fig., 2 tabs.

  18. Lectures on insurance models

    CERN Document Server

    Ramasubramanian, S

    2009-01-01

    Insurance has become a necessary aspect of modern society. The mathematical basis of insurance modeling is best expressed in terms of continuous time stochastic processes. This introductory text on actuarial risk theory deals with the Cramer-Lundberg model and the renewal risk model. Their basic structure and properties, including the renewal theorems as well as the corresponding ruin problems, are studied. There is a detailed discussion of heavy tailed distributions, which have become increasingly relevant. The Lundberg risk process with investment in risky asset is also considered. This book will be useful to practitioners in the field and to graduate students interested in this important branch of applied probability.

  19. Impact of cash cropping and perennial crops on food crop ...

    African Journals Online (AJOL)

    than labor; E is exogenous income We assume households can sell parts or all of food crop, PCC and ... Farmers may also get informal credit from village money lenders based on their credit worthiness, which ..... exogenous at the time of making food crop planting decisions as the latter are annual and the former (PCC and ...

  20. Fee-for-service, Capitation and Health Provider Choice with Private Contracts

    NARCIS (Netherlands)

    Boone, J.

    2014-01-01

    Contracts between health insurers and providers are private; i.e. not public. By modelling this explicitly, we find the following. Insurers with bigger provider networks,pay higher fee-for-service rates to providers. This makes it more likely that a patient is treated and hence health care costs

  1. Long-Term Care Insurance and Life Insurance Demand

    OpenAIRE

    Volker Meier

    1998-01-01

    This article investigates the interaction between life insurance and long-term care insurance markets on the demand side. In the model utility depends on both consumption and bequest, and utility from consumption is contingent on the state of health. While the demand for life insurance increases both with decreasing income and with a rising degree of altruism, the influences of these two parameters on the demand for long-term care insurance are ambiguous. If the utility shock arising from dis...

  2. BUSINESS PROCESS MANAGEMENT IN INSURANCE CASE OF JADRANSKO INSURANCE COMPANY

    OpenAIRE

    Sanja Coric; Danijel Bara

    2014-01-01

    Selling insurance products in conditions of today’s modern technological solutions is faced with numerous challenges. Business processes in insurance as well as the results of these business processes are the real interface to policyholders. Modeling and analysis of business process in insurance ensure organizations to focus on the customer and increase the efficiency and quality of work. Managing critical business processes in every single organization, likewise in insurance is a key factor ...

  3. Profiling Smart Contracts Interactions with Tensor Decomposition and Graph Mining

    OpenAIRE

    Charlier, Jérémy; Lagraa, Sofiane; State, Radu; Francois, Jerome

    2017-01-01

    International audience; Smart contracts, computer protocols designed for autonomous execution on predefined conditions, arise from the evolution of the Bit-coin's crypto-currency. They provide higher transaction security and allow economy of scale through the automated process. Smart contracts provides inherent benefits for financial institutions such as investment banking, retail banking, and insurance. This technology is widely used within Ethereum, an open source block-chain platform, from...

  4. CHALLENGES AND STRATEGIC PRIORITIES FOR THE DEVELOPMENT OF INVESTMENT INSURANCE IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Iryna Honcharenko

    2017-12-01

    Full Text Available The purpose of the paper is to substantiate the feasibility of expanding the scope of investment insurance in Ukraine, taking into account its advantages over other types of insurance services as well as the possibility of minimizing the possible disadvantages. Methodology. The list of the research methods of the subject under consideration includes the monographic method, analysis, techniques of the abstract-logical method, etc. Results. The urgency of the article is that the disclosure of the internal potential of the insurance market in Ukraine should take place with the introduction or activation of modern insurance products capable of meeting several financial needs at once, not only of their consumers but of the state as a whole. The development of voluntary life insurance plays an important investment role in the country’s economy, therefore, at the moment, the need to develop new financial products aimed at increasing voluntary insurance is urgent. The share of life insurance services in the insurance market of Ukraine in dynamic is analysed. The purpose and positive consequences of expanding the segment of investment insurance are substantiated. Investment insurance as a financial product has both advantages and disadvantages. The benefits include the transparent structure of the insurance product, the choice of investment strategy, the possibility of obtaining increased investment returns while preserving the benefits of the insurance contract, preferential taxation of investment income, the existence of a guaranteed amount of payment in the contract, etc.; to the drawbacks – the lack of the possibility of early termination of the contract with the receipt of all the insurance premiums paid, the absence of a guarantee fund, guaranteed income, long-term contracts, limited range of people who can be insured. To enhance the use of investment insurance in Ukraine and to minimize these shortcomings, the prospects for the development of

  5. A COMPARATIVE ANALYSIS BETWEEN UNIT-LINKED LIFE INSURANCE AND OTHER ALTERNATIVE INVESTMENTS

    Directory of Open Access Journals (Sweden)

    CRISTINA CIUMAS

    2015-07-01

    Full Text Available The unit-linked life insurance has two important components: protection and investment. The protection component refers to the insured sum in case of the occurrence of insured risks and the investment component refers to the policyholder’s account that represents the present value of the units from the chosen investment funds.These financial products invest most of the premium paid by the insured person in the funds managed by the insurance company or an external administrator and the lower part of the premium is intended to cover the insured risk (death, disability, etc. An important component of the activity carried out by the insurance companies is the investment of the premiums paid by policyholders in various types of assets, in order to obtain higher yields than those guaranteed by the insurance contracts, while providing the necessary liquidity for the payment of insurance claims in case of occurrence of the assumed risks. This research contributes to the existing literature regarding the study of investment alternatives, with an exclusive focus on the investment in unit-linked life insurance. A special place in this study is the presentation of investments in unit-linked insurance versus other types of financial investments: deposits, treasury bills, shares (BET, currency (EURO and gold.

  6. BUSINESS INTELLIGENCE FOR INSURANCE COMPANIES

    Directory of Open Access Journals (Sweden)

    A. Ignatiuk

    2016-06-01

    Full Text Available The current state and future trends for the world and domestic insurance markets are analyzed. The description of business intelligence methodology, tools and their practical implication for insurance companies are provided.

  7. Unemployment Insurance and Inequality

    DEFF Research Database (Denmark)

    Larsen, Birthe; Waisman, Gisela

    educated workers receive a lower fraction of their wages as unemployment insurance, we consider how the impact on labour market performance and wage differences and thereby inequality differ dependent on whether educated or uneducated workers receive higher benefits. The model can help shed light...

  8. Trends in pension insurance

    Directory of Open Access Journals (Sweden)

    D. Shterev

    2017-12-01

    Full Text Available This article deals with a topical for our country problem which is related to the State Social Insurance. It provides a review of the factors having an adverse effect onto the financial state of the Bulgarian pension system. Discussed are the basic parameters related to the economic incentives in connection with the optimal functioning of the pension system

  9. HOUSING INSURANCE IN ROMANIA

    Directory of Open Access Journals (Sweden)

    FLOREA IANC MARIA MIRABELA

    2014-12-01

    Full Text Available Last few years have shown that Romania is not protected from the consequences of climate change. It is clear that type flood events may cause social problems and losses is difficult financing from public resources, especially in the context of the existence of budget constraints. The only viable system to cope with such disasters is insurance system that has the ability to spread risks by reinsurance Natural disasters - earthquakes, floods, landslides - are just some of the risks that may threaten your home. And if natural disasters can seem distant danger, think as fires, floods caused by broken pipes or theft of household goods are trouble can happen anytime to anyone. To protect yourself in such unpleasant situations, whose frequency is unfortunately on the rise, it is necessary to be assured. Thus, you will be able to recover losses in the event that they occur. The house is undoubtedly one of the most important assets we own. Therefore, the Romans began to pay increasingly more attention to domestic insurance products. Since 2011, voluntary home insurance, life insurance with, were the most dynamic segments of the market.

  10. Voluntary Public Unemployment Insurance

    DEFF Research Database (Denmark)

    O. Parsons, Donald; Tranæs, Torben; Bie Lilleør, Helene

    Denmark has drawn much attention for its active labor market policies, but is almost unique in offering a voluntary public unemployment insurance program requiring a significant premium payment. A safety net program – a less generous, means-tested social assistance plan – completes the system...

  11. The civil liability insurance in the nuclear field

    International Nuclear Information System (INIS)

    Francis, H.W.

    1980-01-01

    The total civil liability of the nuclear facilities operator by nuclear damages against a thirty party is analysed, based on the rules of Paris, Vienna and Brussels conventions. It is also commented the nuclear facilities' operator responsability for the risks caused the reactor and other local installations. Besides, it is mentioned how an insurance policy of civil liability must be made, emphasizing that the insurance contract will always be based on the nuclear legislation of each country according to the international conventions. (A.L.) [pt

  12. Contract Design: Risk Management and Evaluation

    Directory of Open Access Journals (Sweden)

    Axel C. Mühlbacher

    2018-01-01

    Full Text Available Introduction: Effective risk adjustment is an aspect that is more and more given weight on the background of competitive health insurance systems and vital healthcare systems. The risk structure of the providers plays a vital role in Pay for Performance. A prerequisite for optimal incentive-based service models is a (partial dependence of the agent’s returns on the provider’s gain level. Integrated care systems as well as accountable care organisations (ACOs in the US and similar concepts in other countries are advocated as an effective method of improving the performance of healthcare systems. These systems outline a payment and care delivery model that intends to tie provider reimbursements to predefined quality metrics. By this the total costs of care shall be reduced.  Methods: Little is known about the contractual design and the main challenges of delegating “accountability” to these new kinds of organisations and/or contracts. The costs of market utilisation are highly relevant for the conception of healthcare contracts; furthermore information asymmetries and contract-specific investments are an obstacle to the efficient operation of ACOs. A comprehensive literature review on methods of designing contracts in Integrated Care was conducted. The research question in this article focuses on how reimbursement strategies, evaluation of measures and methods of risk adjustment can best be integrated in healthcare contracting.  Results: Each integrated care contract includes challenges for both payers and providers without having sufficient empirical data on both sides. These challenges are clinical, administrative or financial nature. Risk adjusted contracts ensure that the reimbursement roughly matches the true costs resulting from the morbidity of a population. If reimbursement of care provider corresponds to the actual expenses for an individual/population the problem of risk selection is greatly reduced. The currently used methods

  13. Contract Design: Risk Management and Evaluation.

    Science.gov (United States)

    Mühlbacher, Axel C; Amelung, Volker E; Juhnke, Christin

    2018-01-12

    Effective risk adjustment is an aspect that is more and more given weight on the background of competitive health insurance systems and vital healthcare systems. The risk structure of the providers plays a vital role in Pay for Performance. A prerequisite for optimal incentive-based service models is a (partial) dependence of the agent's returns on the provider's gain level. Integrated care systems as well as accountable care organisations (ACOs) in the US and similar concepts in other countries are advocated as an effective method of improving the performance of healthcare systems. These systems outline a payment and care delivery model that intends to tie provider reimbursements to predefined quality metrics. By this the total costs of care shall be reduced. Little is known about the contractual design and the main challenges of delegating "accountability" to these new kinds of organisations and/or contracts. The costs of market utilisation are highly relevant for the conception of healthcare contracts; furthermore information asymmetries and contract-specific investments are an obstacle to the efficient operation of ACOs. A comprehensive literature review on methods of designing contracts in Integrated Care was conducted. The research question in this article focuses on how reimbursement strategies, evaluation of measures and methods of risk adjustment can best be integrated in healthcare contracting. Each integrated care contract includes challenges for both payers and providers without having sufficient empirical data on both sides. These challenges are clinical, administrative or financial nature. Risk adjusted contracts ensure that the reimbursement roughly matches the true costs resulting from the morbidity of a population. If reimbursement of care provider corresponds to the actual expenses for an individual/population the problem of risk selection is greatly reduced. The currently used methods of risk adjustment have widely differing model and forecast

  14. Development of the agricultural insurance market in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Eva Vávrová

    2010-01-01

    Full Text Available Proactive approach to risk management of agriculture companies is the way to ensure the efficiency of agricultural production even affected by natural disasters, to ensure the continuity of agricultural business and ultimately affect the level of development of rural regions. The instrument that solves the problem of reduction and elimination of risks associated with agricultural production is a systemic approach to the insurance of agricultural production, both crop insurance and livestock insurance, linked to a support program for SME in agriculture.This presented paper aims to identify and discuss the possibility of eliminating risks possibly threate­ning the agricultural production and to analyze forms of covering risks associated with agricultural production on the commercial insurance market in the Czech Republic. The paper analyzes the current situation and current development of the agricultural insurance on the insurance market in the Czech Republic.This paper was written as a part of the research project MSM 6215648904, carried out by the Faculty of Business and Economics, under the title „The Czech economics in the processes of integration and globalization, and the development of the agriculture and service sector in the new conditions of the integrated European market“, following the goals and methodology of the research project.

  15. 78 FR 38483 - Area Risk Protection Insurance Regulations and Area Risk Protection Insurance Crop Provisions

    Science.gov (United States)

    2013-06-26

    ... be disadvantaged by this decision. The commenter questioned why is it being proposed to allow... multiplied by the standard deviation of farmer's loss divided by the standard deviation of area loss. A...

  16. EFFECTS OF COMMERCIAL CONTRACT

    OpenAIRE

    Ana-Maria Florea; Constantin Giurca

    2014-01-01

    The contract is a legal instrument used to organize economic and social life. International trade agreement has certain features in order to ensure the international exchange of goods and services between the Contracting Parties. In terms of commercial contract, there is a foreign origin element, that gives the parties the right to determine the law to govern the contract. A fundamental aspect of commercial contract, in addition to that of determining the law applicable to judicial report est...

  17. Premium Forecasting of an Insurance Company: Automobile Insurance

    OpenAIRE

    Fouladvand, M. Ebrahim; Darooneh, Amir H.

    2002-01-01

    We present an analytical study of an insurance company. We model the company's performance on a statistical basis and evaluate the predicted annual income of the company in terms of insurance parameters namely the premium, total number of the insured, average loss claims etc. We restrict ourselves to a single insurance class the so-called automobile insurance. We show the existence a crossover premium p_c below which the company is loss-making. Above p_c, we also give detailed statistical ana...

  18. Climate Risk and Production Shocks: Using Index Insurance to Link Climate Science to Policy for Sustainable Development

    Science.gov (United States)

    McCarney, G. R.; Osgood, D. E.

    2011-12-01

    Smallholder farmers in developing countries are often severely impacted by droughts and other climate related events. However, agricultural insurance programs are largely unavailable in lower-income countries because of limitations in traditional loss-based indemnity insurance. As a result, it is often the case that farmers who are the most vulnerable to climate shocks lack access to the insurance tools that could help to reduce their production risk. Index insurance, a recent financial innovation, has the potential to increase access to insurance for smallholder farmers (Barrett et al. 2007). Index insurance allows farmers to insure their production risk based on a weather index (such as total seasonal rainfall) rather than on crop yields. The use of a weather index addresses many of the perverse incentive problems found in traditional crop insurance, and greatly reduces the costs of insuring smallholder farmers. The trade-off in index insurance, however, is limited accuracy in calibrating payouts to actual losses, a phenomenon commonly known as basis risk. While index insurance has promise as a risk-smoothing instrument, many argue it has greater promise as a mechanism for improving access to credit for smallholder farmers in developing countries (e.g. Barnett, Barrett & Skees 2008). In these areas, farmers are often fully exposed to climate shocks, which greatly affect their willingness to borrow. By smoothing the uncertainty in climate shocks, insurance may allow farmers to take credit for productive risks. There has been much discussion as to the optimal strategy for combining index insurance with credit, specifically if the financial institutions or the individual farmers themselves should hold the insurance policy. Many existing insurance implementations insure the farmer directly. However, since a weather index is a proxy for yield loss based on regional data, there is basis risk due to uninsured idiosyncratic differences between farmers. As a response to

  19. The need of the Nuclear Civil Liability Insurance; La necesidad del Seguro de Responsabilidad Civil Nuclear (SRCN)

    Energy Technology Data Exchange (ETDEWEB)

    Gomez del Campo, J.

    2011-07-01

    Nuclear Liability Insurance (NLI), emerged as a safety mechanism and product to respond to a great risk. because of the compulsory nature of international and national regulations, it has become a compulsory contract. Nuclear risk coverage pools are founded as groups of insurers and reinsures, without legal entity, which cooperate and pool their resources to deal with these great risks. In spain Atomic Pool has been renamed ESPANUCLEAR, administered by and Economic Interest Grouping called Nuclear risk Insurers. (Author)

  20. Professional dental and oral surgery liability in Italy: a comparative analysis of the insurance products offered to health workers

    Directory of Open Access Journals (Sweden)

    Di Lorenzo Pierpaolo

    2016-01-01

    Full Text Available In Italy there has been an increase in claims for damages for alleged medical malpractice. A study was therefore conducted that aimed at assessing the content of the coverage of insurance policy contracts offered to oral health professionals by the insurance market.

  1. LEGAL REGULATIONS AND THE MARKET OF INSURANCE SERVICES IN THE SME SECTOR IN 2014-2015 AS EXEMPLIFIED BY POLAND

    Directory of Open Access Journals (Sweden)

    Aneta Oniszczuk – Jastrząbek

    2017-03-01

    Full Text Available Apart from banking and telecommunications services, insurance is the most dynamically developing market in Poland. Since 1990, when the law on insurance activity was passed, the number of insurance companies has increased considerably. The quick adoption of the above-mentioned law was related to the system transformation and an urgent need to adjust that sector of the economy to the standards applicable in capitalist countries. The unification of the law and adoption of international insurance conventions have stimulated the growth of that sector. The offer of insurance companies has been extended to include new and better services, ranging from basic vehicle or property insurance to complicated financial insurance. A broadly conceived insurance market consists of two basic components, i.e. insurers who represent the supply of insurance coverage and policyholders, or persons with a property interest, who represent demand. A person who concludes an insurance contract with an insurer is a policyholder. This article presents the legal regulations concerning of insurance services undertaken by enterprises in Poland.

  2. Health Insurance without Single Crossing

    DEFF Research Database (Denmark)

    Boone, Jan; Schottmüller, Christoph

    2017-01-01

    Standard insurance models predict that people with high risks have high insurance coverage. It is empirically documented that people with high income have lower health risks and are better insured. We show that income differences between risk types lead to a violation of single crossing...... in an insurance model where people choose treatment intensity. We analyse different market structures and show the following: If insurers have market power, the violation of single crossing caused by income differences and endogenous treatment choice can explain the empirically observed outcome. Our results do...

  3. Preferred providers and the credible commitment problem in health insurance: first experiences with the implementation of managed competition in the Dutch health care system.

    Science.gov (United States)

    Boonen, Lieke H H M; Schut, Frederik T

    2011-04-01

    We investigate the impact of the transition towards managed competition in the Dutch health care system on health insurers' contracting behaviour. Specifically, we examine whether insurers have been able to take up their role as prudent buyers of care and examine consumers' attitudes towards insurers' new role. Health insurers' contracting behaviour is investigated by an extensive analysis of available information on purchasing practices by health insurers and by interviews with directors of health care purchasing of the four major health insurers, accounting for 90% of the market. Consumer attitudes towards insurers' new role are investigated by surveys among a representative sample of enrollees over the period 2005-2009. During the first four years of the reform, health insurers were very reluctant to engage in selective contracting and preferred to use 'soft' positive incentives to encourage preferred provider choice rather than engaging in restrictive managed care activities. Consumer attitudes towards channelling vary considerably by type of provider but generally became more negative in the first two years after the reform. Insurers' reluctance to use selective contracting can be at least partly explained by the presence of a credible-commitment problem. Consumers do not trust that insurers with restrictive networks are committed to provide good quality care. The credible-commitment problem seems to be particularly relevant to the Netherlands, since Dutch enrollees are not used to restrictions on provider choice. Since consumers are quite sensitive to differences in provider quality, more reliable information about provider quality is required to reduce the credible-commitment problem.

  4. Insurance against climate change and flood risk: Insurability and decision processes of insurers

    Science.gov (United States)

    Hung, Hung-Chih; Hung, Jia-Yi

    2016-04-01

    1. Background Major portions of the Asia-Pacific region is facing escalating exposure and vulnerability to climate change and flood-related extremes. This highlights an arduous challenge for public agencies to improve existing risk management strategies. Conventionally, governmental funding was majorly responsible and accountable for disaster loss compensation in the developing countries in Asia, such as Taiwan. This is often criticized as an ineffective and inefficient measure of dealing with flood risk. Flood insurance is one option within the toolkit of risk-sharing arrangement and adaptation strategy to flood risk. However, there are numerous potential barriers for insurance companies to cover flood damage, which would cause the flood risk is regarded as uninsurable. This study thus aims to examine attitudes within the insurers about the viability of flood insurance, the decision-making processes of pricing flood insurance and their determinants, as well as to examine potential solutions to encourage flood insurance. 2. Methods and data Using expected-utility theory, an insurance agent-based decision-making model was developed to examine the insurers' attitudes towards the insurability of flood risk, and to scrutinize the factors that influence their decisions on flood insurance premium-setting. This model particularly focuses on how insurers price insurance when they face either uncertainty or ambiguity about the probability and loss of a particular flood event occurring. This study considers the factors that are expected to affect insures' decisions on underwriting and pricing insurance are their risk perception, attitudes towards flood insurance, governmental measures (e.g., land-use planning, building codes, risk communication), expected probabilities and losses of devastating flooding events, as well as insurance companies' attributes. To elicit insurers' utilities about premium-setting for insurance coverage, the 'certainty equivalent,' 'probability

  5. Modern problems in insurance mathematics

    CERN Document Server

    Martin-Löf, Anders

    2014-01-01

    This book is a compilation of 21 papers presented at the International Cramér Symposium on Insurance Mathematics (ICSIM) held at Stockholm University in June, 2013. The book comprises selected contributions from several large research communities in modern insurance mathematics and its applications. The main topics represented in the book are modern risk theory and its applications, stochastic modelling of insurance business, new mathematical problems in life and non-life insurance, and related topics in applied and financial mathematics. The book is an original and useful source of inspiration and essential reference for a broad spectrum of theoretical and applied researchers, research students and experts from the insurance business. In this way, Modern Problems in Insurance Mathematics will contribute to the development of research and academy–industry co-operation in the area of insurance mathematics and its applications.

  6. Nuclear energy and insurance

    International Nuclear Information System (INIS)

    Ekener, H.

    1997-01-01

    It examines the technical, scientific and legal issues relating to the peaceful use of atomic energy in Turkey. The first fifteen chapters give a general overview of the atom and radioactivity; the chapters which follow this section are more technical and deal with the causes of nuclear accidents in reactors.A number of chapters cover legal issues, for example the conditions and procedures involved in the insurance market and the risks linked to operation of a nuclear power plant.The following subjects are examined in relation to nuclear insurance: risks during construction; fire during operation of the plants and other causes of accidents; risks due to the transport of radioactive materials and waste etc. The final chapters reproduce the principle legislative texts in force in Turkey in the field of nuclear energy, and also certain regulations which establish competent regulatory bodies

  7. Reviving Ulysses contracts.

    Science.gov (United States)

    Spellecy, Ryan

    2003-12-01

    Ulysses contracts have faced paternalism objections since they first were proposed. Since the contracts are designed to override a present request from a legally competent patient in favor of a past request made by that patient, enforcement of these contracts was argued to be unjustifiable strong paternalism. Recent legal developments and new theories of practical reasoning suggest that the discussion of Ulysses contracts should be revived. This paper argues that with a proper understanding of the future-directed planning embodied in Ulysses contracts, the charge of strong paternalism can be answered, and the enforcement of some Ulysses contracts may be justified under the rubric of weak paternalism.

  8. ADMINISTRATIVE CONTRACTS. DELIMITATIONS

    Directory of Open Access Journals (Sweden)

    Liana Teodora PASCARIU

    2016-12-01

    Full Text Available Article examines whether all contracts of public persons are administrative contracts; in other words, if the administration may conclude contracts that, according to their legal nature, are not administrative. If we start from the definition of administrative contracts as it appears in Law no. 554/2004, these include contracts by public authorities which concern the enhancement of public property execution of works of public interest, public services, public procurement and other administrative contracts provided by special laws and subject to the jurisdiction of the administrative courts.

  9. Environmental pollution liability insurance in China: in need of strong government backing.

    Science.gov (United States)

    Feng, Yan; Mol, Arthur P J; Lu, Yonglong; He, Guizhen; van Koppen, C S A

    2014-09-01

    Environmental pollution liability insurance was officially introduced in China only in 2006, as part of new market-based approaches for managing environmental risks. By 2012, trial applications of pollution insurance had been launched in 14 provinces and cities. More than ten insurance companies have entered the pollution insurance market with their own products and contracts. Companies in environmentally sensitive sectors and high-risk industries bought pollution insurance, and a few successful compensation cases have been reported. Still, pollution insurance faces a number of challenges in China. The absence of a national law weakens the legal basis of pollution insurance, and poor technical support stagnates further implementation. Moreover, current pollution insurance products have limited risk coverage, high premium rates, and low loss ratios, which make them fairly unattractive to polluters. Meanwhile, low awareness of environmental and social liabilities leads to limited demand for pollution insurance products by industrial companies. Hence, the pollution insurance market is not yet flourishing in China. To improve this situation, this economic instrument needs stronger backing by the Chinese state.

  10. Audit of Department of Energy`s contractor liability insurance costs

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-09-13

    Fifty-four of DOE`s major contractors reported expending $44.3 million in liability insurance costs for the last 3 years of operation. Purpose of this audit was to evaluate how DOE implemented its policy to assume the risk of losses for its contractors rather than to insure them commercially. Contractors are required to use self-insurance if combined annual premiums for commercial insurance exceed $10,000. Review of 18 major contractors showed that DOE was not consistently following its policy and that contractors using commercial insurance incurred higher costs. Required approvals were not always obtained prior to purchasing certain other types of liability insurance. It is recommended that DOE`s policies requiring self-insurance be fully implemented; that requests for approval for commercial insurance when annual premiums exceeded $10,000 be fully justified; and that the commercial insurance policies specifically define the liability coverage prior to approval and payment. It is also recommended that the contracts include clauses limiting reimbursements for insurance expenditures to actual losses and administrative costs.

  11. Rainfed intensive crop systems

    DEFF Research Database (Denmark)

    Olesen, Jørgen E

    2014-01-01

    This chapter focuses on the importance of intensive cropping systems in contributing to the world supply of food and feed. The impact of climate change on intensive crop production systems is also discussed.......This chapter focuses on the importance of intensive cropping systems in contributing to the world supply of food and feed. The impact of climate change on intensive crop production systems is also discussed....

  12. Life insurance mathematics

    CERN Document Server

    Gerber, Hans U

    1997-01-01

    This concise introduction to life contingencies, the theory behind the actuarial work around life insurance and pension funds, will appeal to the reader who likes applied mathematics. In addition to model of life contingencies, the theory of compound interest is explained and it is shown how mortality and other rates can be estimated from observations. The probabilistic model is used consistently throughout the book. Numerous exercises (with answers and solutions) have been added, and for this third edition several misprints have been corrected.

  13. The Impact of Health Insurance Reform on Insurance Instability

    Science.gov (United States)

    Freund, KM; Isabelle, AP; Hanchate, A; Kalish, RL; Kapoor, A; Bak, S; Mishuris, RG; Shroff, S; Battaglia, TA

    2015-01-01

    We investigated the impact of the 2006 Massachusetts health care reform on insurance coverage and stability among minority and underserved women. We examined 36 months of insurance claims among 1,946 women who had abnormal cancer screening at six Community Health Centers pre-(2004–2005) and post-(2007–2008) insurance reform. We examined frequency of switches in insurance coverage as measures of longitudinal insurance instability. On the date of their abnormal cancer screening test, 36% of subjects were publicly insured and 31% were uninsured. Post-reform, the percent ever uninsured declined from 39% to 29% (p.001) and those consistently uninsured declined from 23% to 16%. To assess if insurance instability changed between the pre- and post-reform periods, we conducted Poisson regression models, adjusted for patient demographics and length of time in care. These revealed no significant differences from the pre- to post-reform period in annual rates of insurance switches, incident rate ratio 0.98 (95%-CI 0.88–1.09). Our analysis is limited by changes in the populations in the pre and post reform period and inability to capture care outside of the health system network. Insurance reform increased stability as measured by decreasing uninsured rates without increasing insurance switches. PMID:24583490

  14. Sorghums as energy crops

    Energy Technology Data Exchange (ETDEWEB)

    Lipinsky, E. S.; Kresovich, S.

    1980-01-01

    The botanical, physiological, and agronomic characteristics of sorghum are described. Integration concepts to improve sorghum prospects are discussed as follows: multiple sweet sorghum crops each year, integration with sugarcane, integration with sugar beets, integration with starch crops, sweet stemmed grain sorghum, and integration with lignocellulosic crops. (MHR)

  15. 75 FR 70850 - Common Crop Insurance Regulations; Extra Long Staple Cotton Crop Provisions

    Science.gov (United States)

    2010-11-19

    ... adjusters. For this reason, FCIC is proposing to utilize the Extra Long Staple Cotton National Average Loan... with the National Average Loan Rate published by the Farm Service Agency (FSA), to incorporate a... effect of this action is to provide policy changes, to clarify existing policy [[Page 70851

  16. Optimal Stopping and Policyholder Behaviour in Life Insurance

    DEFF Research Database (Denmark)

    Gad, Kamille Sofie Tågholt

    we solve an auxiliary quadratic optimal stopping problem. We show that the solution to maximizing variance depends on whether randomized stopping times are included in the set of stopping times we maximize over. For some problems the inclusion of randomized stopping times increase the value function....... This parameter we denote the rationality parameter. We give sufficient conditions and a probabilistic proof that when the rationality parameter increases to infinity the corresponding prices converge to to classical arbitrage-free price. We conclude the chapter with partial differential equations for valuation...... on the profitability. We measure the profitability as the difference between the value of the insurance contract and the surrender value. The value of the insurance contract may be determined as a solution to a differential equation much similar to the Thiele differential equation. As in Chapter 4 the model contains...

  17. The RAND Health Insurance Experiment, Three Decades Later*

    Science.gov (United States)

    Aron-Dine, Aviva; Einav, Liran; Finkelstein, Amy

    2013-01-01

    We re-present and re-examine the analysis from the famous RAND Health Insurance Experiment from the 1970s on the impact of consumer cost sharing in health insurance on medical spending. We begin by summarizing the experiment and its core findings in a manner that would be standard in the current age. We then examine potential threats to the validity of a causal interpretation of the experimental treatment effects stemming from different study participation and differential reporting of outcomes across treatment arms. Finally, we re-consider the famous RAND estimate that the elasticity of medical spending with respect to its out-of-pocket price is −0.2, emphasizing the challenges associated with summarizing the experimental treatment effects from non-linear health insurance contracts using a single price elasticity. PMID:24610973

  18. Hancocked: manulife and the limits of private health insurance.

    Science.gov (United States)

    Evans, Robert G

    2011-08-01

    Long-term care (LTC) insurance is a salesman's dream. Millions of well-heeled boomers, anxious to protect their estates from the random expropriation of institutional dependency - what a market! But for Manulife, bleeding $1.5 million a day in LTC claims through subsidiary John Hancock, LTC is a nightmare. Company spokesmen blame unexpected increases in life expectancy. But management's fundamental error was insuring correlated risks. Risk pooling works only when individual risks are uncorrelated. Increases in life expectancy affect all contracts together. Manulife made the same mistake selling equity-linked annuities with guaranteed floors - essentially insuring against stock market declines. Results for shareholders have been catastrophic. Top management, meanwhile, have been honoured and richly rewarded.

  19. Contractibility of curves

    Directory of Open Access Journals (Sweden)

    Janusz Charatonik

    1991-11-01

    Full Text Available Results concerning contractibility of curves (equivalently: of dendroids are collected and discussed in the paper. Interrelations tetween various conditions which are either sufficient or necessary for a curve to be contractible are studied.

  20. Life Insurance Contribution, Insurance Development and Economic Growth in China

    Directory of Open Access Journals (Sweden)

    Wang Ying

    2017-07-01

    Full Text Available Under L-type economy, remodelling the growth power in the medium and long term is essential. The insurance industry during the 13th Five-year Plan period has been given a heavy expectation on promoting economic quality and upgrading economic efficiency, so it will try to accelerate its innovation and development process which serves national needs, market demand and people's requirements. Referring to the previous researches of Solow and Zhang and measuring Capital Stock and Total Factor Productivity independently, the paper analyses the inherent correlation between insurance (including life insurance and non-life insurance and economic growth, reveals the contribution law of the insurance development in economic growth in the short and long term from both economic scale and quality respectively. It also shows enlightenments on policy decision for insurance industry, thus helps economic stability under the downturn periods.

  1. Retrospection. Uranium mining Wismut und the legal casualty insurance

    International Nuclear Information System (INIS)

    Breuer, Joachim

    2015-01-01

    Although the Wismut uranium mining company in the former DDR had 600.000 employees, the company was not mentioned in the contract on the German reunification. The expenses for the health consequences imposed manifold challenges to the legal casualty insurance. The question of responsibility, the conservation, digitalization and evaluation of data concerning the personnel and health information, partially handwritten is a tremendous amount of work.

  2. Export Insurance Policy When Exporting to Lesser-Known Markets

    OpenAIRE

    GÖKSEL, Türkmen

    2010-01-01

    There are crucial differences between exporting to a lesser-known market and exporting to a well-known market. I define a well-known (lesser-known) market if exporters have complete (incomplete) information about importers' characteristics such as contract viability. This risk premium between a well-known market and a lesser-known market causes lower export volume to lesser-known markets. I find that government-supported export insurance policies can increase the total volume of exports ...

  3. International sales contract

    OpenAIRE

    Lauermannová, Irena

    2013-01-01

    75 International Sales Contract Abstract The objective of this thesis is to describe the ways of avoidance of the contract available under the United Nations Convention on Contracts for the International Sale of Goods (hereinafter the "Convention") and to make an analysis of its key term "fundamental breach of contract" as it is defined in its article 25. The thesis is composed of the introduction, three main chapters and the conclusion. The first chapter introduces the Convention itself. It ...

  4. The Joy of Contracts.

    Science.gov (United States)

    Hegarty, Kevin

    This paper is a practical guide that explains and illustrates contracts between libraries and vendors for computerized circulation systems. It describes the elements of a typical contract to include the equipment and services that should be specified in the contract and establishes scheduling and acceptance testing needs. Included in a contract…

  5. Contracting for nuclear fuels

    International Nuclear Information System (INIS)

    Schuessler, C.M.

    1981-10-01

    This paper deals with uranium sales contracts, i.e. with contractual arrangements in the first steps of the fuel cycle, which cover uranium production and conversion. The various types of contract are described and, where appropriate, their underlying business philosophy and their main terms and conditions. Finally, the specific common features of such contracts are reviewed. (NEA) [fr

  6. Teaching about Contracts.

    Science.gov (United States)

    Froman, Michael; Kosnoff, Kathy

    1978-01-01

    Presents teaching strategies for introducing high school students to contract law. Offers as a case study a contract agreement between pro football players and team owners. Stresses basic elements of contracts (offer, acceptance, consideration, and understanding the bargaining process). Journal available from the American Bar Association, 1155…

  7. Other enrichment related contracts

    International Nuclear Information System (INIS)

    Hall, J.C.

    1978-01-01

    In addition to long-term enrichment contracts, DOE has other types of contracts: (1) short-term, fixed-commitment enrichment contract; (2) emergency sales agreement for enriched uranium; (3) feed material lease agreement; (4) enriched uranium storage agreement; and (5) feed material usage agreement

  8. Optimal social insurance with linear income taxation

    DEFF Research Database (Denmark)

    Bovenberg, Lans; Sørensen, Peter Birch

    2009-01-01

    We study optimal social insurance aimed at insuring disability risk in the presence of linear income taxation. Optimal disability insurance benefits rise with previous earnings. Optimal insurance is incomplete even though disability risks are exogenous and verifiable so that moral hazard...... in disability insurance is absent. Imperfect insurance is optimal because it encourages workers to insure themselves against disability by working and saving more, thereby alleviating the distortionary impact of the redistributive income tax on labor supply and savings....

  9. EFFECTS OF WEATHER-INDEX INSURANCE: THE CASE OF SMALLHOLDER MAIZE FARMERS IN NORTHERN GHANA

    Directory of Open Access Journals (Sweden)

    Bashiru Haruna

    2017-07-01

    Full Text Available The study investigates the effect of weather-index insurance on intensity of fertilizer use and yields among 230 smallholder maize farmers in Northern Region of Ghana. Out of the total sample of selected farmers, about 35% purchased the insurance. Using an endogenous treatment regression model, the study showed that weather-index insurance purchase increased the intensity of fertilizer use but did not have a significant effect on maize yield. Past experience of crop failure due to drought, livestock ownership as well as the total area of land owned explained weather-index insurance purchase in the study area. Based on the results of this study, the Government of Ghana can use weather-index insurance as a policy tool to increase the use of fertilizer by smallholder maize farmers.

  10. Contracting for Public Services

    DEFF Research Database (Denmark)

    Greve, Carsten

    Insightful and comprehensive and covering new subjects like globalization and IT, this text, international in its approach, provides a thorough introduction to the key phases of the contracting process and the skills required by managers in its implementation. These include: policy for contracting...... theoretical ‘contract management model' and a ‘mature contract model', and explores the mechanisms, formal rules and informal norms that influence the way governments contract for public services. This book is essential reading for all students of public management and all public service managers....

  11. Partnering and contracting

    DEFF Research Database (Denmark)

    Bohnstedt, Kristian Ditlev

    2014-01-01

    contradicts the incomplete contracting theory. Secondly, in complete contract setting partnering can be motivated when seen as a willingness to renegotiate complete contracts i.e. partnering lowers transaction costs for renegotiation. Partnering can make it rational for one party to accept disadvantageous...... outcomes with the conception of being repaid later in accordance to reciprocity. Value - Seeing partnering as the willingness to renegotiate complete contracts can reduce the risk for the contractor and lead to lower prices for a given service. Keywords Partnering, Contracting, Pareto efficiency...

  12. Health Insurance and Tax Policy

    OpenAIRE

    Karsten Jeske; Sagiri Kitao

    2006-01-01

    The U.S. tax policy on health insurance favors only those offered group insurance through their employers, and is highly regressive since the subsidy takes the form of deductions from the progressive income tax system. The paper investigates alternatives to the current policy. We find that a complete removal of the subsidy results in a significant reduction in the insurance coverage and serious welfare deterioration. There is, however, room for improving welfare and raising the coverage, by e...

  13. Consumers’ Collision Insurance Decisions

    DEFF Research Database (Denmark)

    Austin, Laurel; Fischhoff, Baruch

    Using interviews with 74 drivers, we elicit and analyse how people think about collision coverage and, more generally, about insurance decisions. We compare the judgments and behaviours of these decision makers to the predictions of a range of theoretical models: (a) A model developed by Lee (2007...... a cognitive model based on budgeting. Our findings emphasize the importance of budget constraints, which lead consumers to budget their income across consumption categories. We find also that a simple heuristic accounts for many collision coverage decisions: purchase coverage for cars worth more than some...

  14. Negotiating Efficient PPP Contracts

    DEFF Research Database (Denmark)

    Tvarnø, Christina D.

    This paper concerns Public Private Partnership (PPP) contracts in concern to the coming new 2014/24IEU public procurement directive. The new EU public procurement directive gives the public authority the opportunity to negotiate PPPs much more when they are implemented in national law....... An opportunity the member states should consider using when procuring a PPP. This paper looks at the negotiation and contracting of a PPP in an economic theoretical and EU public procurement perspective and discusses how to establish an efficient PPP contract under a strong public law doctrine. Governments...... procurement law. Furthermore, the paper seeks to establish a connection between public law, private law and the efficient PPP contract by drawing upon economic theory and empirical contract data from UK, US and Danish partnering contracts from the construction industry and the aim of contracting joint utility...

  15. The economics of health insurance.

    Science.gov (United States)

    Jha, Saurabh; Baker, Tom

    2012-12-01

    Insurance plays an important role in the United States, most importantly in but not limited to medical care. The authors introduce basic economic concepts that make medical care and health insurance different from other goods and services traded in the market. They emphasize that competitive pricing in the marketplace for insurance leads, quite rationally, to risk classification, market segmentation, and market failure. The article serves as a springboard for understanding the basis of the reforms that regulate the health insurance market in the Patient Protection and Affordable Care Act. Copyright © 2012 American College of Radiology. Published by Elsevier Inc. All rights reserved.

  16. Implications of European Directives in the Assessment of Insurance Companies

    Directory of Open Access Journals (Sweden)

    Ionel BOSTAN

    2011-03-01

    Full Text Available The objective of this paper is to present a vision in the sphere of the problematic of assets and liabilities’ evaluation that are reflected in the balance sheet of the insurance companies, inside the theory of the contingent claims, and of the marginal theory inside the insurance sphere. Our references take into consideration all the principles and evaluation norms of a company’s liabilities, company operating in the life insurance domain, including the general request introduced by the IFRS. Also, we argument the fact that the making of the new IFRS standards’ frame must take into consideration the accelerated globalization of the trading and the internalization of the financial markets, factors that have made pass onto the first place the necessity of a standardized financial reporting system. Because for so long the evaluating inadequacy of the assets at their fair value and the liabilities at their fair cost has persisted for so long, we underline that we find even in this a vast debate subject between the insurance companies’ representatives and the IASB, especially in the second step of the IFRS4’s implementation in the life insurance contract.

  17. 7 CFR 1788.3 - Flood insurance.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Flood insurance. 1788.3 Section 1788.3 Agriculture... (CONTINUED) RUS FIDELITY AND INSURANCE REQUIREMENTS FOR ELECTRIC AND TELECOMMUNICATIONS BORROWERS Borrower Insurance Requirements § 1788.3 Flood insurance. (a) Borrowers shall purchase and maintain flood insurance...

  18. The National Insurance Academy: Serving India's Insurance Professionals and Researchers

    Science.gov (United States)

    Sane, Bhagyashree

    2011-01-01

    This article discusses how a special library can meet the needs of a specific industry. The author focuses on India's National Insurance Academy (NIA) Library, which serves the insurance industry of India and some neighboring countries. It is where the author serves as the chief librarian.

  19. Health insurance education strategies for increasing the insured ...

    African Journals Online (AJOL)

    Introduction: The older population in most developing countries are uninsured and lack access to health services. This study assessed the extent to which a multi-strategy health insurance education intervention would increase the number of insured among the older population in rural Kenya. Methods: The ...

  20. The supply contract of nuclear fuel and replacement of nuclear reactor core in Yonggwang - 3. 4 nuclear power plant in 1995 - 1996

    International Nuclear Information System (INIS)

    1995-01-01

    This document is supply contract of replacement of nuclear reactor core and nuclear fuel. It consists of 28 clauses which are definition of the terms, price-fixing, payment, schedule, guarantee, exchange and extra service, cancellation of a contract, insurance, sanction, tax, grievance mediation, responsibility, notice and down payment. It has 5 appendixes that lists additional supply contract of extra service and procedures.

  1. 76 FR 71624 - Agency Information Collection (Claim for Disability Insurance Benefits, Government Life Insurance...

    Science.gov (United States)

    2011-11-18

    ... AFFAIRS Agency Information Collection (Claim for Disability Insurance Benefits, Government Life Insurance..., Government Life Insurance, VA Form 29-357. OMB Control Number: 2900-0016. Type of Review: Extension of a... disability insurance on National Service Life Insurance and United States Government Life Insurance policies...

  2. Asymmetric Information in Iranian’s Health Insurance Market: Testing of Adverse Selection and Moral Hazard

    Science.gov (United States)

    Lotfi, Farhad; Gorji, Hassan Abolghasem; Mahdavi, Ghadir; Hadian, Mohammad

    2015-01-01

    Background: Asymmetric information is one of the most important issues in insurance market which occurred due to inherent characteristics of one of the agents involved in insurance contracts; hence its management requires designing appropriate policies. This phenomenon can lead to the failure of insurance market via its two consequences, namely, adverse selection and moral hazard. Objective: This study was aimed to evaluate the status of asymmetric information in Iran’s health insurance market with respect to the demand for outpatient services. Materials/sPatients and Methods: This research is a cross sectional study conducted on households living in Iran. The data of the research was extracted from the information on household’s budget survey collected by the Statistical Center of Iran in 2012. In this study, the Generalized Method of Moment model was used and the status of adverse selection and moral hazard was evaluated through calculating the latent health status of individuals in each insurance category. To analyze the data, Excel, Eviews and stata11 software were used. Results: The estimation of parameters of the utility function of the demand for outpatient services (visit, medicine, and Para-clinical services) showed that households were more risk averse in the use of outpatient care than other goods and services. After estimating the health status of households based on their health insurance categories, the results showed that rural-insured people had the best health status and people with supplementary insurance had the worst health status. In addition, the comparison of the conditional distribution of latent health status approved the phenomenon of adverse selection in all insurance groups, with the exception of rural insurance. Moreover, calculation of the elasticity of medical expenses to reimbursement rate confirmed the existence of moral hazard phenomenon. Conclusions: Due to the existence of the phenomena of adverse selection and moral hazard

  3. Asymmetric Information in Iranian's Health Insurance Market: Testing of Adverse Selection and Moral Hazard.

    Science.gov (United States)

    Lotfi, Farhad; Abolghasem Gorji, Hassan; Mahdavi, Ghadir; Hadian, Mohammad

    2015-04-19

    Asymmetric information is one of the most important issues in insurance market which occurred due to inherent characteristics of one of the agents involved in insurance contracts; hence its management requires designing appropriate policies. This phenomenon can lead to the failure of insurance market via its two consequences, namely, adverse selection and moral hazard. This study was aimed to evaluate the status of asymmetric information in Iran's health insurance market with respect to the demand for outpatient services. This research is a cross sectional study conducted on households living in Iran. The data of the research was extracted from the information on household's budget survey collected by the Statistical Center of Iran in 2012. In this study, the Generalized Method of Moment model was used and the status of adverse selection and moral hazard was evaluated through calculating the latent health status of individuals in each insurance category. To analyze the data, Excel, Eviews and stata11 software were used. The estimation of parameters of the utility function of the demand for outpatient services (visit, medicine, and Para-clinical services) showed that households were more risk averse in the use of outpatient care than other goods and services. After estimating the health status of households based on their health insurance categories, the results showed that rural-insured people had the best health status and people with supplementary insurance had the worst health status. In addition, the comparison of the conditional distribution of latent health status approved the phenomenon of adverse selection in all insurance groups, with the exception of rural insurance. Moreover, calculation of the elasticity of medical expenses to reimbursement rate confirmed the existence of moral hazard phenomenon. Due to the existence of the phenomena of adverse selection and moral hazard in most of health insurances categories, policymakers need to adjust contracts so

  4. Financial management of insurance companies in the context of the new regime Solvency II

    Directory of Open Access Journals (Sweden)

    Istrate Costin

    2017-07-01

    Full Text Available The new solvency regime Solvency II represents a solid and harmonized prudential framework applicable by insurance companies in the European area. Solvency II was implemented in the European Union by adopting Directives 2009/138/EC respectively 2014/51/EU, replacing existing directives regulating solvency former regime, known as Solvency I. Thus, the new European legislation in insurance, applicable from 1 January 2016, was aimed at unifying the main European insurance market and ensuring consumer protection. The responsible authority at EU level with the implementation of the new solvency regime is EIOPA - European Insurance and Occupational Pensions Authority, which dealt in previous periods of testing the European market insurance through organizing quantitative impact studies (last exercise - QIS5, organized in 2011. The main standards derived from Solvency II and also the new IFRS accounting provisions, intended to increase the transparency of risk management and investment, in order to pricing insurance products and profitability of the different classes of insurance rates. Solvency II brings both challenges and opportunities for companies, changing the concept of building protection programs for insured and generating additional concerns about capital requirements in the determination of own funds (basic, auxiliary and surplus that can be used to meet this requirement. Also estimate realistic and prudent risk assumed by insurance contracts concluded transposed to the insurance companies by recording every technical reserves represent a very important element in order to establish an optimal balance of financial resources. Given the significant overlap between IFRS and Solvency II, insurers will have to improve disclosure requirements of additional information and adjust planning and forecasting. All these measures will increase the efficiency of financial management, a series of operational measures and by providing documented and tested

  5. Performance measurement and insurance liabilities

    NARCIS (Netherlands)

    Plantinga, A; Huijgen, C

    2001-01-01

    In this article, the authors develop an attribution framework for evaluating the investment performance of institutional investors such as insurance companies. The model is useful in identifying the investment skills of insurance companies. This is accomplished by developing a dual benchmark for the

  6. A RANGELAND GRASSHOPPER INSURANCE PROGRAM

    OpenAIRE

    Skold, Melvin D.; Davis, Robert M.

    1995-01-01

    The incidence of benefits and costs from controlling rangeland grasshoppers on public grazing lands poses problems of economic efficiency and distributional equity. Public grasshopper control programs operate like public disaster assistance. However, grasshopper infestations are an insurable risk. This article proposes a rangeland grasshopper insurance program which reduces the economic inefficiencies and distributional inequities of the existing program.

  7. Contracting out local services

    DEFF Research Database (Denmark)

    Petersen, Ole Helby; Houlberg, Kurt; Ring Christensen, Lasse

    2015-01-01

    Governments face a fundamental choice between in-house production and contracting out for the delivery of services to citizens. This article examines the importance of ideology, fiscal pressure, and size for contracting out in technical and social services. The analysis builds on a panel data set...... covering municipal spending on services in all 98 Danish municipalities. The authors find that contracting out is shaped by ideology in social services but not in technical services, which indicates that social services are the contemporary ideological battlefield of privatization. The analysis further...... reveals that economically prosperous municipalities are more likely to contract out social services, whereas contracting out of technical services is not influenced by economic affluence. Finally, larger municipalities contract out more in technical services but less in social services, demonstrating...

  8. New staff contract policy

    CERN Multimedia

    HR Department

    2006-01-01

    Following discussion at TREF and on the recommendation of the Finance Committee, Council approved a new staff contract policy, which became effective on 1 January 2006. Its application is covered by a new Administrative Circular No. 2 (Rev. 3) 'Recruitment, appointment and possible developments regarding the contractual position of staff members'. The revised circular replaces the previous Circulars No. 9 (Rev. 3) 'Staff contracts' and No. 2 (Rev. 2) 'Guidelines and procedures concerning recruitment and probation period for staff members'. The main features of the new contract policy are as follows: The new policy provides chances for long-term employment for all staff recruits staying for four years without distinguishing between those assigned to long-term or short-term activities when joining CERN. In addition, it presents a number of simplifications for the award of ICs. There are henceforth only 2 types of contract: Limited Duration (LD) contracts for all recruitment and Indefinite Contracts (IC) for...

  9. BOT Outsourcing Contracts

    DEFF Research Database (Denmark)

    Ørberg Jensen, Peter D.; Petersen, Bent

    2012-01-01

    Build-operate-transfer (BOT) contracting has been widely usen in the engineering and construction industry, but has only recently been introduced in services industry domains. Notably, service provider firms from emerging markets have recently started offering BOT outsourcing contracts....... In this paper we investigate under which circumstances a BOT outsourcing contract (i.e. a contract where the client firm exercises its call option) is beneficial, or the opposite, to the emerging market vendor firm. We draw on various theoretical literatures (transaction cost economics, real options, inter......-firm linkages) and develop three scenarios for the implications for vendor firms. We find that BOT contracts, under certain circumstances, may imply benefits of process and knowledge upgrading for the emerging market vendor firm. However, given different sets of circumstances, engaging in a BOT contract carries...

  10. BOT Outsourcing Contracts

    DEFF Research Database (Denmark)

    Ørberg Jensen, Peter D.; Petersen, Bent

    2012-01-01

    Build-operate-transfer (BOT) contracting has been widely usen in the engineering and construction industry, but has only recently been introduced in services industry domains. Notably, service provider firms from emerging markets have recently started offering BOT outsourcing contracts. In this p......Build-operate-transfer (BOT) contracting has been widely usen in the engineering and construction industry, but has only recently been introduced in services industry domains. Notably, service provider firms from emerging markets have recently started offering BOT outsourcing contracts....... In this paper we investigate under which circumstances a BOT outsourcing contract (i.e. a contract where the client firm exercises its call option) is beneficial, or the opposite, to the emerging market vendor firm. We draw on various theoretical literatures (transaction cost economics, real options, inter...

  11. Canadians' access to insurance for prescription medicines

    National Research Council Canada - National Science Library

    2000-01-01

    ...-economic circumstances and drug needs. Volume two presents an analysis of the un-insured and under-insured by measuring the extent to which Canadians have access to insurance for prescription drug expenses and the quality of that coverage...

  12. 7 CFR 3019.31 - Insurance coverage.

    Science.gov (United States)

    2010-01-01

    ... recipient. Federally-owned property need not be insured unless required by the terms and conditions of the... Standards § 3019.31 Insurance coverage. Recipients shall, at a minimum, provide the equivalent insurance...

  13. 29 CFR 95.31 - Insurance coverage.

    Science.gov (United States)

    2010-07-01

    ... recipient. Federally-owned property need not be insured unless required by the terms and conditions of the... § 95.31 Insurance coverage. Recipients shall, at a minimum, provide the equivalent insurance coverage...

  14. INSURANCE - A RISK COVERING STRATEGY

    Directory of Open Access Journals (Sweden)

    Marius Dan GAVRILETEA

    2014-12-01

    Full Text Available Insurance industry in Romania is facing for a few years a continuous decreasing in Gross Written Premium. The negative trend may be caused by the effects of financial crises for companies and also for individuals. In order to keep theirs market share, insurance companies must identify new opportunities to increase theirs’ GWP. Among these new market niches hospitality industry may represent an option to be followed. In this paper, we will analyze the types of insurance policies available for hospitality industry (except mandatory motors’ third party liability and motors’ own vehicle insurance. The conclusion represents solution both for insurance companies and for hotel as a part of theirs’ risk financing process.

  15. Contract archaeology and news archaeological contracts

    Directory of Open Access Journals (Sweden)

    Wilhelm Londoño

    2016-09-01

    Full Text Available This paper addresses two topics related to the current situation of archaeology in Latin America and Colombia. The first section of the paper deals with the impact of contract archaeology in Colombia. The fact that programs of contract or preventive archaeology have rocketed in recent years is well known. Less known, however, are the broad tendencies and dimensions of this phenomenon. The second issue discussed here is the relationship between global tourism politics and processes of local recovery and enhancement of heritage assets, which will be explored through the analysis of two archaeological sites. The recovery and touristification of an archaeological site is used as starting point to reflect about the differences between a new tendency in archaeological contract opposed to the dominant tendency in the field.

  16. Copyright Preemption of Contracts

    OpenAIRE

    Bohannan, Christina

    2008-01-01

    This Article argues that both courts and scholars are wrong in their categorical approaches to preemption of contracts under the Copyright Act, and proposes an intermediate approach that recognizes the importance of both contract rights and federal policy in preemption analysis. First, it argues that both courts and scholars have misapplied preemption law to breach of contract claims. Although the two sides tend to favor opposite results, they take equally categorical approaches. Categori...

  17. [Abortion using health insurance].

    Science.gov (United States)

    Gritschneder, O

    1984-09-01

    The author reports on current German court rulings on whether non-medically indicated abortions (although not prohibited by law and therefore not actionable) should be financed via the compulsory health insurance scheme or by the Federal Government. 1. The social welfare court at Dortmund ruled that current legislation governing the financing of welfare expenditure violates the Federal German constitution, and has, therefore, referred this matter to the Federal Constitutional Court. However, the Federal Constitutional Court turned down the referral and dismissed the case, since an application for declaring a Federal law null and void can be filed by the Federal Government or by a Federal Land Government or by at least one-third of the total number of members of the Federal German Parliament (Bundestag) only. This means that the current proceedings at the Dortmund social welfare court must continue. The plaintiff pleads to prohibit the compulsory health insurance scheme authorities from defraying the expenses for performing foeticide via legally permitted abortion without medical indication. 2. The Federal Land Government of Baden-Württemberg is the only Land Government of the Federal Republic of Germany that does not grant any financial aid towards performing non-medically indicated (albeit not legally actionable) abortions. Hence, the Baden-Württemberg Administrative Courts turned down the plea filed by a woman government servant towards paying such aid. The court decision was based on the judge's opinion that even the principle of equality before the law guaranteed by the Constitution would not compel the Land Government to emulate the example of the other Land Governments who are agreeable to bearing abortion costs.

  18. Contracting for Public Services

    DEFF Research Database (Denmark)

    Greve, Carsten

    strategic purchasing understanding markets communicating the contracting decision designing and drafting the contract the role of the consumer the regulation of service provision Illustrated throughout with practitioner case-studies from a range of OECD countries, this book presents an important new......Insightful and comprehensive and covering new subjects like globalization and IT, this text, international in its approach, provides a thorough introduction to the key phases of the contracting process and the skills required by managers in its implementation. These include: policy for contracting...

  19. Imperfect Tests and Natural Insurance Monopolies

    OpenAIRE

    Emons, Winand

    1997-01-01

    This paper considers a housing insurance market in which buildings have different damage probabilities. Insurers use imperfect tests to find out about buildings’ damage types. The insurance market is a natural monopoly. If more than one insurer is active, high risk house owners continue to apply to insurers until they are eventually assigned to a low-risk class. First we show that the natural insurance monopoly need not be sustainable. Then we show that in the equilibrium industry structure t...

  20. Macroprudential Insurance Regulation: A Swiss Case Study

    Directory of Open Access Journals (Sweden)

    Philippe Deprez

    2016-12-01

    Full Text Available This article provides a case study that analyzes national macroprudential insurance regulation in Switzerland. We consider an insurance market that is based on data from the Swiss private insurance industry. We stress this market with several scenarios related to financial and insurance risks, and we analyze the resulting risk capitals of the insurance companies. This stress-test analysis provides insights into the vulnerability of the Swiss private insurance sector to different risks and shocks.

  1. Macroprudential Insurance Regulation: A Swiss Case Study

    OpenAIRE

    Philippe Deprez; Mario V. Wüthrich

    2016-01-01

    This article provides a case study that analyzes national macroprudential insurance regulation in Switzerland. We consider an insurance market that is based on data from the Swiss private insurance industry. We stress this market with several scenarios related to financial and insurance risks, and we analyze the resulting risk capitals of the insurance companies. This stress-test analysis provides insights into the vulnerability of the Swiss private insurance sector to different risks and sho...

  2. Numerical simulation of cropping

    DEFF Research Database (Denmark)

    Tvergaard, Viggo; Hutchinson, John W.

    2014-01-01

    Cropping is a cutting process whereby opposing aligned blades create a shearing failure by exerting opposing forces normal to the surfaces of a metal sheet or plate. Building on recent efforts to quantify cropping, this paper formulates a plane strain elastic-plastic model of a plate subject to s...

  3. Applied Crop Protection 2017

    DEFF Research Database (Denmark)

    Jørgensen, Lise Nistrup; Nielsen, Bent Jørgen; Mathiassen, Solvejg Kopp

    Linket til højre henviser til rapporten i trykt format til download. This publication contains results from crop protection trials which were carried out at the Department of Agroecology within the area of gricultural crops. Most of the results come from field trials, but results from greenhouse ...

  4. IDENTIFYING BEST PRACTICES IN INSURANCE

    Directory of Open Access Journals (Sweden)

    Răducu Marian PETRESCU

    2016-05-01

    Full Text Available This work aims to identify and develop best practices in the insurance field. We must mention from the beginning that best practices are not compulsory or mandatory rules of law, they cannot and do not want to be placed above the legal provisions in force, they only complement the law. Moreover, we intend to look into the implementation of the Solvency II Directive from the point of view of best practices in insurance. In this research, the main method of study was the theoretical qualitative research (especially document analysis, with the purpose to identify and theoretically develop the information on best practices in the insurance field. The main results of the research consist in the identification of general best practices in performing the activity (such as communication/consultation with the interested parties, the consistency as regards contractual/non-contractual relations, the effectiveness and efficiency, transparency and honesty, fair treatment of customers etc. which have been presented in short and which could be implemented by any company that seeks to achieve superior performances, including the insurance companies. The work also includes some important best practices, described in detail, in a sensitive area such as the insurance field (best practices in relation to the management of personal information, the management and settlement of disputes by insurance companies or intermediaries in the field of insurance etc..

  5. The insurance of climatic risks

    International Nuclear Information System (INIS)

    Pauthier, Alice

    2015-06-01

    The United Nations Environment Programme assesses that the cost of adaptation to climate change could reach 150 billions dollars per year by 2025-2030 and 500 billions dollars by 2050. This raises the issues of financing of adaptation measures, and of compensations in case of natural disaster, and insurance companies here seem to have a major role to play. However, the modification of the climatic risk puts the viability of conventional insurance mechanisms into question again. While discussing these issues, the author outlines that a sustainable insurance against these evolving risks may threaten insurance companies to go to bankrupt, but also all their policyholders who are, for most of them, unable to cope by themselves with the consequences of an extreme climatic event. The author also discusses related aspects such as risk modelling, risk mutualization, a securing of insurance companies based on the financial market, the implementation of public-private partnership, and ways to insure climate anomalies. She also comments the commitment of the insurance sector in adaptation and mitigation policies

  6. Modelling farmer uptake of perennial energy crops in the UK

    International Nuclear Information System (INIS)

    Sherrington, Chris; Moran, Dominic

    2010-01-01

    The UK Biomass Strategy suggests that to reach the technical potential of perennial energy crops such as short rotation coppice (SRC) willow and miscanthus by 2020 requires 350,000 hectares of land. This represents a more than 20-fold increase on the current 15,546 hectares. Previous research has identified several barriers to adoption, including concerns over security of income from contracts. In addition, farmers perceive returns from these crops to be lower than for conventional crops. This paper uses a farm-level linear programming model to investigate theoretical uptake of energy crops at different gross margins under the assumption of a profit-maximising decision maker, and in the absence of known barriers to adoption. The findings suggest that while SRC willow, at current prices, remains less competitive, returns to miscanthus should have encouraged adoption on a wider scale than at present. This highlights the importance of the barriers to adoption. Recently announced contracts for miscanthus appear to offer a significant premium to farmers in order to encourage them to grow the crops. This raises the question of whether a more cost-effective approach would be for government to provide guarantees addressing farmers concerns including security of income from the contracts. Such an approach should encourage adoption at lower gross margins.

  7. Gas contracts in transition

    Energy Technology Data Exchange (ETDEWEB)

    Wright, A.J. [Delhi Gas Pipeline Corp., Dallas, TX (United States)

    1992-12-31

    The transition of gas marketing by producers from a regulated and structured market to an open competitive and commodity market has created new challenges for attorneys drafting gas sales contracts. This article examines the following related topics: Interruptible contracts; pricing provisions; transport imbalances.

  8. Contract JAVYS - CEZ

    International Nuclear Information System (INIS)

    Anon

    2009-01-01

    The Nuclear Decommissioning Company (JAVYS) and Czech energy firm CEZ signed a contract on setting up of a joint venture to build a new nuclear facility at Jaslovske Bohunice (Trnava region). The value of the investment is estimated at 4-6 billion Eur. The contract was approved by the Slovak Government; the state will own a majority stake in the company via JAVYS.

  9. Negotiating Efficient PPP Contracts

    DEFF Research Database (Denmark)

    Tvarnø, Christina D.

    This paper concerns Public Private Partnership (PPP) contracts in concern to the coming new 2014/24IEU public procurement directive. The new EU public procurement directive gives the public authority the opportunity to negotiate PPPs much more when they are implemented in national law. An opportu......This paper concerns Public Private Partnership (PPP) contracts in concern to the coming new 2014/24IEU public procurement directive. The new EU public procurement directive gives the public authority the opportunity to negotiate PPPs much more when they are implemented in national law....... An opportunity the member states should consider using when procuring a PPP. This paper looks at the negotiation and contracting of a PPP in an economic theoretical and EU public procurement perspective and discusses how to establish an efficient PPP contract under a strong public law doctrine. Governments...... procurement law. Furthermore, the paper seeks to establish a connection between public law, private law and the efficient PPP contract by drawing upon economic theory and empirical contract data from UK, US and Danish partnering contracts from the construction industry and the aim of contracting joint utility...

  10. Contract Teachers in India

    Science.gov (United States)

    Goyal, Sangeeta; Pandey, Priyanka

    2013-01-01

    In this paper, we use non-experimental data from government schools in Uttar Pradesh and Madhya Pradesh, two of the largest Indian states, to present average school outcomes by contract status of teachers. We find that contract teachers are associated with higher effort than civil service teachers with permanent tenures, before as well as after…

  11. Democratic contract law

    NARCIS (Netherlands)

    Hesselink, M.W.

    2015-01-01

    This article discusses the normative relationship between contract law and democracy. In particular, it argues that in order to be legitimate contract law needs to have a democratic basis. Private law is not different in this respect from public law. Thus, the first claim made in this article will

  12. Do contracts help?

    DEFF Research Database (Denmark)

    Tumennasan, Norovsambuu

    Economists perceive moral hazard as an undesirable problem because it undermines efficiency. Carefully designed contracts can mitigate the moral hazard problem, but this assumes that a team is already formed. This paper demonstrates that these contracts are sometimes the reason why teams do...

  13. THE PSYCHOLOGICAL CONTRACT

    Directory of Open Access Journals (Sweden)

    Blanca Giorgiana GRAMA

    2015-04-01

    Full Text Available The psychological contract became known as a research paradigm within corporate research, providing a broad framework which explains the employee-company relations. Despite all this, there are still many debates on the concept and a series of criticism were expressed that led to the necessity of some more rigorous theoretical and empirical analysis. The psychological contract refers to the unwritten, implicit expectations that employees have from the company and vice versa; it is that which defines the things the employee expects from the employer. Consequently, each of the parties involved in the contract may have different perceptions on these commitments and obligations. Thus the psychological contract may be regarded as an exchange relation between the employer and the employee. Breaking the psychological contract affects the performance, the morale, and the motivation of the staff in a negative manner. The information presented in this paper is intended to contribute to the theoretical and methodological development of the concept.

  14. Comparing contracting performance

    DEFF Research Database (Denmark)

    Lindholst, Andrej Christian

    One key question for the last three decades of public management reforms is whether country differences between radical and modest reform approaches make a difference for performance in a reformed public sector. This paper compares differences in the implementation and performance of contracting....... Hypotheses are suggested for the role of culture, competition, contracts, capabilities and collaboration for contracting performance between and across the countries. Arguments are tested against data from on four comparable national surveys of private delivery of park and road maintenance services in local...... governments. Contracting performance is found to be higher in the United Kingdom due to a stronger overall combination of institutional features while performance differences across the countries in ranked order are found to be collaboration, contracts, capabilities and competition. Overall, the study support...

  15. Drilling contracts and incentives

    International Nuclear Information System (INIS)

    Osmundsen, Petter; Sorenes, Terje; Toft, Anders

    2008-01-01

    Shortages of rigs and personnel have encouraged discussion of designing incentive contracts in the drilling sector. However, for the drilling contracts, there are not a large variety of contract types in use. This article describes and analyses incentives for drilling contractors. These are directly represented by the compensation formats utilised in the present and in the consecutive drilling contracts. Indirectly, incentives are also provided by the evaluation criteria that oil companies use for awarding drilling assignments. Changes in contract format pose a number of relevant questions relating to resource management, and the article takes an in-depth look at some of these. Do evaluation criteria for awarding drilling assignments encourage the development of new technology and solutions? How will a stronger focus on drilling efficiency influence reservoir utilisation?

  16. Drilling contract issues

    International Nuclear Information System (INIS)

    Davison, G.B.; Worden, D.R.; Borbridge, G.K.D.

    1997-01-01

    Some selected issues which are facing both operators and contractors in drilling for oil and gas, such as the allocation of risk by contract and by statute and the implementation of new technologies, were discussed. There are three varieties of written drilling contracts used in Canada: (1) day work and meterage contracts, (2) master drilling agreements, and (3) contracts that are used in construction projects that do not specifically relate to drilling. Issues relevant to the contractual allocation of risk, to implementing new drilling technologies, to reconciling contract and statute liability, and the formation of strategic alliances for mutual benefit, and the factors contributing to the success of such alliances were explored. 12 refs

  17. Identifying cost-minimizing strategies for guaranteeing target dairy income over feed cost via use of the Livestock Gross Margin dairy insurance program.

    Science.gov (United States)

    Valvekar, M; Cabrera, V E; Gould, B W

    2010-07-01

    Milk and feed price volatility are the major source of dairy farm risk. Since August 2008 a new federally reinsured insurance program has been available to many US dairy farmers to help minimize the negative effects of adverse price movements. This insurance program is referred to as Livestock Gross Margin Insurance for Dairy Cattle. Given the flexibility in contract design, the dairy farmer has to make 3 critical decisions when purchasing this insurance: 1) the percentage of monthly milk production to be covered, 3) declared feed equivalents used to produce this milk, and 3) the level of gross margin not covered by insurance (i.e., deductible). The objective of this analysis was to provide an optimal strategy of how a dairy farmer could incorporate this insurance program to help manage the variability in net farm income. In this analysis we assumed that a risk-neutral dairy farmer wants to design an insurance contract such that a target guaranteed income over feed cost is obtained at least cost. We undertook this analysis for a representative Wisconsin dairy farm (herd size: 120 cows) producing 8,873 kg (19,545 lb) of milk/cow per year. Wisconsin statistical data indicates that dairy farms of similar size must require an income over feed cost of at least $110/Mg ($5/cwt) of milk to be profitable during the coverage period. Therefore, using data for the July 2009 insurance contract to insure $110/Mg of milk, the least cost contract was found to have a premium of $1.22/Mg ($0.055/cwt) of milk produced insuring approximately 52% of the production with variable monthly production covered during the period of September 2009 to June 2010. This premium represented 1.10% of the desired IOFC. We compared the above optimal strategy with an alternative nonoptimal strategy, defined as a contract insuring the same proportion of milk as the optimal (52%) but with a constant amount insured across all contract months. The premium was found to be almost twice the level obtained

  18. Compulsory private complementary health insurance offered by employers in France: implications and current debate.

    Science.gov (United States)

    Franc, Carine; Pierre, Aurélie

    2015-02-01

    In January 2013, within the framework of a National Inter-professional Agreement (NIA), the French government required all employers (irrespective of the size of their business) to offer private complementary health insurance to their employees from January 2016. The generalization of group complementary health insurance to all employees will directly affect insurers, employers and employees, as well as individuals not directly concerned (students, retirees, unemployed and civil servants). In this paper, we present the issues raised by this regulation, the expected consequences and the current debate around this reform. In particular, we argue that this reform may have adverse effects on equity of access to complementary health insurance in France, since the risk structure of the market for individual health insurance will change, potentially increasing inequalities between wage-earners and others. Moreover, tax exemptions given to group contracts are problematic because public funds used to support these contracts can be higher at individual level for high-salary individuals than those allocated to improve access for the poorest. In response to the criticism and with the aim of ensuring equity in the system, the government decided to reconsider some of the fiscal advantages given to group contracts, to enhance programs and aids dedicated to the poorest and to redefine an overall context of incentives. Copyright © 2015. Published by Elsevier Ireland Ltd.

  19. Insurance and critical infrastructure protection : is there a connection in an environment of terrorism?

    International Nuclear Information System (INIS)

    Rowlands, D.; Devlin, R.A.

    2006-01-01

    This paper investigated the potential role of the insurance industry in enhancing the protection of critical energy infrastructure (CEI). This analysis was conducted in the context of increased concerns about deliberate acts of sabotage related to terrorist activities. A theoretical insurance market analysis was applied to a CEI scenario in order to examine the effects that insurance might have on the vulnerability of the system and subsequent remediation activities. Classical insurance market structures were examined, and problems associated with adverse selection, moral hazards and the role of government were identified. Issues concerning incentive effects induced by insurance were reviewed, as well as issues concerning the interdependence between different operators of the CEI system. An updated literature review was also provided. Results of the study suggested that corporate losses to CEI owners may be far less than the social cost of energy disruption, which in turn provides a reasonable rationale for government as opposed to private intervention. In terms of remediation, the immediate impact of a crippled CEI would overwhelm any private organization, and response would need to be coordinated through public structures. Terrorism insurance, while available, provides relatively large deductibles, as insurance companies are unwilling to accept the risks of moderate damage that may arise. There does not appear to be any evidence that private insurers will be able to provide significant relief from terrorist attacks, and it is unlikely that a private insurance market for terrorism will emerge. An absence of information regarding terrorist activities constrains both insurance purchasers from choosing the best mix of risk management tools, as well as insurance companies seeking to establish the appropriate pricing and conditions for different contracts. It was concluded that governments should support CEI firms in their own efforts to understand the threats; aid in

  20. CURRENT PRAGMATIC SITUATION OF INSURANCE BROKING IN LIFE INSURANCE IN UKRAINE

    OpenAIRE

    N. Tkachenko; O. Kryvytska

    2017-01-01

    The article investigates the practical aspects of the activity of insurance intermediaries in Ukraine. The structure and dynamics of insurance payments for life insurance in Ukraine as a whole, as well as in the context of residents and non-residents, are analyzed. The share of insurance intermediaries in the realization of life insurance services in Ukraine is revealed. The indexes of insurance intermediaries in the organization of life insurance in Ukraine for 2012-2016 are systematized. In...

  1. Crop resources. [18 papers

    Energy Technology Data Exchange (ETDEWEB)

    Seigler, D.S. (ed.)

    1977-01-01

    Eighteen papers originally presented as a symposium on Crop Resources at the 17th annual meeting of the Society for Economic Botany in Urbana, Illinois, June 13 to 17, 1976 comprise this book. The papers are: Potential Wealth in New Crops: Research and Development, L. H. Princen; Plant Introductions--A Source of New Crops, George A. White; Nonfood Uses for Commercial Vegetable Oil Crops, E. H. Pryde; New Industrial Potentials for Carbohydrates, F. H. Otey; The Current Importance of Plants as a Source of Drugs, Norman R. Farnsworth; Potentials for Development of Wild Plants as Row Crops for Use by Man, Arnold Krochmal and Connie Krochmal; Recent Evidence in Support of the Tropical Origin of New World Crops, C. Earle Smith, Jr.; Requirements for a Green Revolution, G. F. Sprague; How Green Can a Revolution Be, Jack R. Harlan; Increasing Cereal Yields: Evolution under Domestication, J. M. J. de Wet; Hevea Rubber: Past and Future, Ernest P. Imle; Horseradish--Problems and Research in Illinois, A. M. Rhodes; Dioscorea--The Pill Crop, Norman Applezweig; Plant Derivatives for Insect Control, Robert L. Metcalf; Evolutionary Dynamics of Sorghum Domestication, J. M. J. de Wet and Y. Shecter; The Origin and Future of Wheat, E. R. Sears; Current Thoughts on Origins, Present Status, and Future of Soybeans, T. Hymowitz and C. A. Newell; and The Origin of Corn--Studies of the Last Hundred Years, Garrison Wilkes. (MCW)

  2. 77 FR 18127 - Enforcement of Subsidiary and Affiliate Contracts by the FDIC as Receiver of a Covered Financial...

    Science.gov (United States)

    2012-03-27

    ... of the covered financial company. (a) General. (1) Contracts of subsidiaries or affiliates of a... purpose of supporting the contractual obligations of a subsidiary or affiliate of a covered financial... Affiliate Contracts by the FDIC as Receiver of a Covered Financial Company AGENCY: Federal Deposit Insurance...

  3. Insurance billing and coding.

    Science.gov (United States)

    Napier, Rebecca H; Bruelheide, Lori S; Demann, Eric T K; Haug, Richard H

    2008-07-01

    The purpose of this article is to highlight the importance of understanding various numeric and alpha-numeric codes for accurately billing dental and medically related services to private pay or third-party insurance carriers. In the United States, common dental terminology (CDT) codes are most commonly used by dentists to submit claims, whereas current procedural terminology (CPT) and International Classification of Diseases, Ninth Revision, Clinical Modification (ICD.9.CM) codes are more commonly used by physicians to bill for their services. The CPT and ICD.9.CM coding systems complement each other in that CPT codes provide the procedure and service information and ICD.9.CM codes provide the reason or rationale for a particular procedure or service. These codes are more commonly used for "medical necessity" determinations, and general dentists and specialists who routinely perform care, including trauma-related care, biopsies, and dental treatment as a result of or in anticipation of a cancer-related treatment, are likely to use these codes. Claim submissions for care provided can be completed electronically or by means of paper forms.

  4. Buying greenhouse insurance

    International Nuclear Information System (INIS)

    Manne, A.S.; Richels, R.G.

    1992-01-01

    A growing concern that the increasing accumulation of greenhouse gases will lead to undesirable changes in global climate has resulted in proposals, both in the United States and internationally, to set physical targets for reducing greenhouse gas emissions. But what will these proposals cost? This book outlines a way to think about greenhouse-effect decisions under uncertainty. It describes an insightful model for determining the economic costs of limiting CO 2 emissions produced by burning fossil fuels and provides a solid analytical base for rethinking public policy on the far-reaching issue of global warming. It presents region-by-region estimates of the costs that would underlie an international agreement. Using a computer model known as Global 2100, they analyze the economic impacts of limiting CO 2 emissions under alternative supply and conservation scenarios. The results clearly indicate that a reduction in emissions is not the sole policy response to potential climate change. Following a summary of the greenhouse effect, its likely causes, and possible consequences, this book takes up issues that concern the public at large. They provide an overview of Global 2100, look at how the U.S. energy sector is likely to evolve under business-as-usual conditions and under carbon constraints, and describe the concept of greenhouse insurance. They consider possible global agreements, including an estimate of benefits that might result from trading in an international market in emission rights. They conclude with a technical description directed toward modeling specialists

  5. Homogeneous Discrete Time Alternating Compound Renewal Process: A Disability Insurance Application

    Directory of Open Access Journals (Sweden)

    Guglielmo D’Amico

    2015-01-01

    Full Text Available Discrete time alternating renewal process is a very simple tool that permits solving many real life problems. This paper, after the presentation of this tool, introduces the compound environment in the alternating process giving a systematization to this important tool. The claim costs for a temporary disability insurance contract are presented. The algorithm and an example of application are also provided.

  6. 76 FR 24567 - Proposed Information Collection (Insurance Deduction Authorization (For Deduction From Benefit...

    Science.gov (United States)

    2011-05-02

    ... beneficiary's compensation check. DATES: Written comments and recommendations on the proposed collection of... deduction from their compensation check to pay premiums, loans and/or liens on his or her insurance contract.... Dated: April 27, 2011. By direction of the Secretary. Denise McLamb, Program Analyst, Enterprise Records...

  7. How to share our risks efficiently? Principles for optimal social insurance and pension provision

    NARCIS (Netherlands)

    Teulings, C.N.

    2010-01-01

    The efficient organisation of social insurance is an important problem for modern societies. The paper discusses evidence that shocks in labour income have largely persistent effects and analyses the implications of this observation for the optimal design of institutions for wage contracting, social

  8. 75 FR 36452 - Pruco Life Insurance Company, et al.; Notice of Application

    Science.gov (United States)

    2010-06-25

    ... issue date of the Contract (excluding any purchase credits) until the date due proof of death is... of a Credit could be viewed as involving the redemption of redeemable securities for a price other... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-29302; File No. 812-13713] Pruco Life Insurance...

  9. 77 FR 40310 - Federal Housing Administration (FHA) Section 232 Healthcare Mortgage Insurance Program: Partial...

    Science.gov (United States)

    2012-07-09

    ... amendments proposed by this rule would reduce risk to the FHA insurance fund by establishing the criteria and... contract. Through acceptance and payment of a partial payment of claim, FHA pays the lender a portion of... determined by FHA, as an alternative to the lender assigning the entire mortgage to HUD. Partial payment of...

  10. On Deep e-Contracting

    NARCIS (Netherlands)

    Grefen, P.W.P.J.; Angelov, S.A.

    The use of electronic contracts is emerging as a way to improve the effi-ciency of contracting processes. Electronic contracts are, however, often used as a direct replacement for traditional paper contracts - which we call shallow e-contracting. Consequently, business processes in general and

  11. Professional indemnity insurance and the practice of medicine during bullfights in France.

    Science.gov (United States)

    Franchitto, Nicolas; Gavarri, Laurent; Telmon, Norbert; Rougé, Daniel

    2008-12-01

    Bullfighting can provoke strong reactions, for fans and laymen alike. Risks to the health of participants are inseparable from the spectacle. Organisers call on a medical team whose main task is to treat the bullfighter's injuries. Despite the special features of this medical practice doctors are not exempt from the possibility of the question of their liability being raised in the event of medical malpractice and large financial damages for the bullfighter if he is harmed. The doctor's public liability and professional indemnity insurance contract is therefore all the more important, in fact, this insurance covers damages for harm caused by the policy holder from the moment he is declared liable. In the statute of 4th March 2002, the French legislature brought in compulsory insurance for health professionals with the aim of achieving the best possible compensation for harm. While public liability and professional indemnity insurance is compulsory for doctors, the purpose of making this insurance compulsory is to cover compensation for harm suffered by the victim. In the case of bullfights, faced with insufficient legal regulation and the fact that more often than not the medicine practised in this field is on a voluntary basis, it might be interesting to offer some thoughts on the special features of the insurance contract that ought to be adapted to these extreme working conditions.

  12. Contract Award Decisions Resulting in Contract Termination for Default

    National Research Council Canada - National Science Library

    1996-01-01

    .... Specifically, the audit focused on contracts terminated either for default or convenience and determined whether the contract terminations could have been averted based on information available before contract award...

  13. United Kingdom Automobile Insurance Market

    Science.gov (United States)

    1979-05-01

    The report represents a limited study of the United Kingdom Automobile Insurance Industry: (1) the structure, size, and relationships within the industry; (2) the basis of premium calculation, rate structure, types of policies, and payment of compens...

  14. HUD Insured Multifamily Properties (NGDA)

    Data.gov (United States)

    Department of Housing and Urban Development — The FHA insured Multifamily Housing portfolio consist primarily of rental housing properties with five or more dwelling units such as apartments or town houses, but...

  15. Environmental insurance: research information support

    OpenAIRE

    Rykova Valentina V.

    2015-01-01

    he article describes information resources to support research on the issue of environmental insurance. It represents a brief analysis of a documentary flow, traces its dynamics and typical-thematic structures, shows the most productive journals

  16. FEMA Flood Insurance Studies Inventory

    Data.gov (United States)

    Kansas Data Access and Support Center — This digital data set provides an inventory of Federal Emergency Management Agency (FEMA) Flood Insurance Studies (FIS) that have been conducted for communities and...

  17. 48 CFR 3052.228-70 - Insurance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Insurance. 3052.228-70... of Provisions and Clauses 3052.228-70 Insurance. As prescribed in (HSAR) 48 CFR 3028.310-70 and 3028... insurance. Insurance (DEC 2003) In accordance with the clause entitled “Insurance—Work on a Government...

  18. 12 CFR 741.212 - Share insurance.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Share insurance. 741.212 Section 741.212 Banks... INSURANCE Regulations Codified Elsewhere in NCUA's Regulations as Applying to Federal Credit Unions That Also Apply to Federally Insured State-Chartered Credit Unions § 741.212 Share insurance. (a) Member...

  19. 24 CFR 206.15 - Insurance.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance. 206.15 Section 206.15... MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES HOME EQUITY CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement § 206.15 Insurance. Mortgages originated under this...

  20. 46 CFR 308.502 - Additional insurance.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Additional insurance. 308.502 Section 308.502 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS WAR RISK INSURANCE War Risk Cargo Insurance I-Introduction § 308.502 Additional insurance. The assured may place increased value or...

  1. 24 CFR 201.31 - Insurance charge.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance charge. 201.31 Section... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Insurance of Loans § 201.31 Insurance charge. (a...

  2. 38 CFR 36.4222 - Hazard insurance.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Hazard insurance. 36.4222... General Provisions § 36.4222 Hazard insurance. (a) The holder shall require insurance policies to be... it may be subjected to the extent customary in the locality. The costs of such required insurance...

  3. 38 CFR 36.4329 - Hazard insurance.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Hazard insurance. 36.4329... GUARANTY Guaranty or Insurance of Loans to Veterans With Electronic Reporting § 36.4329 Hazard insurance. The holder shall require insurance policies to be procured and maintained in an amount sufficient to...

  4. 34 CFR 682.505 - Insurance premium.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 3 2010-07-01 2010-07-01 false Insurance premium. 682.505 Section 682.505 Education... § 682.505 Insurance premium. (a) General. The Secretary charges the lender an insurance premium for each Federal GSL Program loan that is guaranteed, except that no insurance premium is charged on a Federal...

  5. Incentive drilling contracts

    International Nuclear Information System (INIS)

    Moomjian, C.A. Jr.

    1992-01-01

    Incentive drilling contracts historically have been based on the footage and turnkey concepts. Because these concepts have not been used widely in the international and offshore arenas, this paper discusses other innovative approaches to incentive contracts. Case studies of recently completed or current international and offshore contracts are presented to describe incentive projects based on a performance bonus (Case 1), lump sum per well (Case 2), target time and cap for a specified hole section (Case 3), and per-well target time (Case 4). This paper concludes with a review and comparison of the case studies and a general discussion of factors that produce successful innovative incentive programs that enhance drilling efficiency

  6. Cereal Crops Research Unit

    Data.gov (United States)

    Federal Laboratory Consortium — The mission of the Cereal Crops Research Unit is to 1) conduct basic research to identify and understand the biological processes affecting the growth, development...

  7. Social insurance for health service.

    Science.gov (United States)

    Roemer, M I

    1997-06-01

    Implementation of social insurance for financing health services has yielded different patterns depending on a country's economic level and its government's political ideology. By the late 19th century, thousands of small sickness funds operated in Europe, and in 1883 Germany's Chancellor Bismarck led the enactment of a law mandating enrollment by low-income workers. Other countries followed, with France completing Western European coverage in 1928. The Russian Revolution in 1917 led to a National Health Service covering everyone from general revenues by 1937. New Zealand legislated universal population coverage in 1939. After World War II, Scandinavian countries extended coverage to everyone and Britain introduced its National Health Service covering everyone with comprehensive care and financed by general revenues in 1948. Outside of Europe Japan adopted health insurance in 1922, covering everyone in 1946. Chile was the first developing country to enact statutory health insurance in 1924 for industrial workers, with extension to all low-income people with its "Servicio Nacional de Salud" in 1952. India covered 3.5 percent of its large population with the Employees' State Insurance Corporation in 1948, and China after its 1949 revolution developed four types of health insurance for designated groups of workers and dependents. Sub-Saharan African countries took limited health insurance actions in the late 1960s and 1970s. By 1980, some 85 countries had enacted social security programs to finance or deliver health services or both.

  8. Transgenics in crops

    Science.gov (United States)

    Li, Y.; Wu, Y. H.; McAvoy, R.; Duan, H.

    2001-01-01

    With rapid world population growth and declining availability of fresh water and arable land, a new technology is urgently needed to enhance agricultural productivity. Recent discoveries in the field of crop transgenics clearly demonstrate the great potential of this technology for increasing food production and improving food quality while preserving the environment for future generations. In this review, we briefly discuss some of the recent achievements in crop improvement that have been made using gene transfer technology.

  9. Assessing pricing assumptions for weather index insurance in a changing climate

    Directory of Open Access Journals (Sweden)

    J.D. Daron

    2014-01-01

    Full Text Available Weather index insurance is being offered to low-income farmers in developing countries as an alternative to traditional multi-peril crop insurance. There is widespread support for index insurance as a means of climate change adaptation but whether or not these products are themselves resilient to climate change has not been well studied. Given climate variability and climate change, an over-reliance on historical climate observations to guide the design of such products can result in premiums which mislead policyholders and insurers alike, about the magnitude of underlying risks. Here, a method to incorporate different sources of climate data into the product design phase is presented. Bayesian Networks are constructed to demonstrate how insurers can assess the product viability from a climate perspective, using past observations and simulations of future climate. Sensitivity analyses illustrate the dependence of pricing decisions on both the choice of information, and the method for incorporating such data. The methods and their sensitivities are illustrated using a case study analysing the provision of index-based crop insurance in Kolhapur, India. We expose the benefits and limitations of the Bayesian Network approach, weather index insurance as an adaptation measure and climate simulations as a source of quantitative predictive information. Current climate model output is shown to be of limited value and difficult to use by index insurance practitioners. The method presented, however, is shown to be an effective tool for testing pricing assumptions and could feasibly be employed in the future to incorporate multiple sources of climate data.

  10. Dependent interest and transition rates in life insurance

    DEFF Research Database (Denmark)

    Buchardt, Kristian

    2014-01-01

    forward rates. We propose a specific model for surrender modelling, and within this model the dependent forward rates are calculated, and the market value and the Solvency II capital requirement are examined for a simple savings contract.......For market consistent life insurance liabilities modelled with a multi-state Markov chain, it is of importance to consider the interest and transition rates as stochastic processes, for example in order to consider hedging possibilities of the risks, and for risk measurement. In the literature......, this is usually done with an assumption of independence between the interest and transition rates. In this paper, it is shown how to valuate life insurance liabilities using affine processes for modelling dependent interest and transition rates. This approach leads to the introduction of so-called dependent...

  11. Effect of crop residue management and cropping system on pearl ...

    African Journals Online (AJOL)

    Retaining crop residues in the field and using legume-based crop rotations have been suggested as ways to simultaneously increase yields per unit area and replenish soil nutrients. The objective of this study was to investigate the influence of two cropping systems and three crop residue management practices on grain ...

  12. 78 FR 58264 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access

    Science.gov (United States)

    2013-09-23

    ... Insurance Information Access AGENCY: Department of Veterans Affairs. ACTION: Proposed rule. SUMMARY: The...-AO42 Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access... operation, also has the right to full access to records held by the insurer or on behalf of the insurer from...

  13. 76 FR 77455 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance-Slayer's Rule Exclusion

    Science.gov (United States)

    2011-12-13

    ... AFFAIRS 38 CFR Part 9 RIN 2900-AN40 Servicemembers' Group Life Insurance and Veterans' Group Life...' Group Life Insurance (``SGLI'') and Veterans' Group Life Insurance (``VGLI'') to prohibit payment of insurance proceeds payable because of the death of a person whose life was insured under SGLI or VGLI...

  14. CURRENT PRAGMATIC SITUATION OF INSURANCE BROKING IN LIFE INSURANCE IN UKRAINE

    Directory of Open Access Journals (Sweden)

    N. Tkachenko

    2017-09-01

    Full Text Available The article investigates the practical aspects of the activity of insurance intermediaries in Ukraine. The structure and dynamics of insurance payments for life insurance in Ukraine as a whole, as well as in the context of residents and non-residents, are analyzed. The share of insurance intermediaries in the realization of life insurance services in Ukraine is revealed. The indexes of insurance intermediaries in the organization of life insurance in Ukraine for 2012-2016 are systematized. In the article mention that insurance intermediaries stay in not active phase in their activity in life insurance sphere. The definition of the insurance intermediary is defined in broad and narrow terms. The purpose of the activity of insurance intermediaries is determined. Schematically shows the common and excellent in the activities of the key representatives of insurance mediation - insurance agents and insurance brokers. It is argued that insurance intermediaries have the opportunity to become key players in life insurance, since they are the ones who can reach potential insurers in the shortest possible time. It is also noted that the further development of life insurance will largely depend on the professionalism of the insurance intermediary. Noted the appropriate identification of a life insurance intermediary with a financial advisor.

  15. Radioactivity in food crops

    Energy Technology Data Exchange (ETDEWEB)

    Drury, J.S.; Baldauf, M.F.; Daniel, E.W.; Fore, C.S.; Uziel, M.S.

    1983-05-01

    Published levels of radioactivity in food crops from 21 countries and 4 island chains of Oceania are listed. The tabulation includes more than 3000 examples of 100 different crops. Data are arranged alphabetically by food crop and geographical origin. The sampling date, nuclide measured, mean radioactivity, range of radioactivities, sample basis, number of samples analyzed, and bibliographic citation are given for each entry, when available. Analyses were reported most frequently for /sup 137/Cs, /sup 40/K, /sup 90/Sr, /sup 226/Ra, /sup 228/Ra, plutonium, uranium, total alpha, and total beta, but a few authors also reported data for /sup 241/Am, /sup 7/Be, /sup 60/Co, /sup 55/Fe, /sup 3/H, /sup 131/I, /sup 54/Mn, /sup 95/Nb, /sup 210/Pb, /sup 210/Po, /sup 106/Ru, /sup 125/Sb, /sup 228/Th, /sup 232/Th, and /sup 95/Zr. Based on the reported data it appears that radioactivity from alpha emitters in food crops is usually low, on the order of 0.1 Bq.g/sup -1/ (wet weight) or less. Reported values of beta radiation in a given crop generally appear to be several orders of magnitude greater than those of alpha emitters. The most striking aspect of the data is the great range of radioactivity reported for a given nuclide in similar food crops with different geographical origins.

  16. Radioactivity in food crops

    International Nuclear Information System (INIS)

    Drury, J.S.; Baldauf, M.F.; Daniel, E.W.; Fore, C.S.; Uziel, M.S.

    1983-05-01

    Published levels of radioactivity in food crops from 21 countries and 4 island chains of Oceania are listed. The tabulation includes more than 3000 examples of 100 different crops. Data are arranged alphabetically by food crop and geographical origin. The sampling date, nuclide measured, mean radioactivity, range of radioactivities, sample basis, number of samples analyzed, and bibliographic citation are given for each entry, when available. Analyses were reported most frequently for 137 Cs, 40 K, 90 Sr, 226 Ra, 228 Ra, plutonium, uranium, total alpha, and total beta, but a few authors also reported data for 241 Am, 7 Be, 60 Co, 55 Fe, 3 H, 131 I, 54 Mn, 95 Nb, 210 Pb, 210 Po, 106 Ru, 125 Sb, 228 Th, 232 Th, and 95 Zr. Based on the reported data it appears that radioactivity from alpha emitters in food crops is usually low, on the order of 0.1 Bq.g -1 (wet weight) or less. Reported values of beta radiation in a given crop generally appear to be several orders of magnitude greater than those of alpha emitters. The most striking aspect of the data is the great range of radioactivity reported for a given nuclide in similar food crops with different geographical origins

  17. Agriculture Insurance: Adaptation to Vulnerability of Climate Change in Bali, Indonesia

    Science.gov (United States)

    Ambarawati, I. G. A. A.; Hongo, C.; Mirah Adi, A. A. A.; Tamura, E.

    2014-12-01

    Bali province of Indonesia is worldwide known for its tourist destination and it contributes more than 60 per cent to the regional domestic product. Meanwhile, agricultural sector including rice production still plays an important role in the Bali economy because of its 30 per cent contribution. Rice production in Bali is not just susceptible to loss caused by flood, drought and pest and disease attack but also from the climate change. The impact of climate change on food production in Indonesia is expected to decline in 2050, ranging from 38 per cent to more than ten-folds of the current production (Syaukat, 2011). Accordingly, adaptation to climate changes is required to minimize the risk along with the plans and strategies for food security and sustainable development. The government of Indonesia (GoI) has launched several pilot projects including agriculture insurance program to minimize the risk in production failure particularly rice farming, unfortunately Bali was excluded from the projects. Implementation of agriculture insurance in Indonesia has the legal basis now after the announcement of the Farmer Protection and Empowerment Act (Law No. 19/2013). Agriculture insurance is seen better in mitigating farmer's risk than that of the other program in rice production. The GoI plans to implement the insurance scheme in the beginning of 2015. This scheme is something "new" to farmers in Bali and Indonesia. Considering the importance of crop insurance to agriculture, this study attempts to explore the potential of such insurance to reveal a clear picture of opportunities and challenges in agriculture insurance implementation in Bali. The study empirically presents awareness and perception of farmers towards the insurance and adaptation to vulnerability of climate change. The study concludes with various suggestions for increasing the awareness of farmers for ensuring better penetration of agriculture insurance in Bali. Key words: agriculture insurance, farmer

  18. A Centralized Auction Mechanism for the Disability and Survivors Insurance in Chile

    Science.gov (United States)

    Reyes H., Gonzalo

    As part of the pension reform recently approved in Chile, the government introduced a centralized auction mechanism to provide the Disability and Survivors (D&S) Insurance that covers recent contributors among the more than 8 million participants in the mandatory private pension system. This paper is intended as a case study presenting the main distortions found in the decentralized operation of the system that led to this reform and the challenges faced when designing a competitive auction mechanism to be implemented jointly by the Pension Fund Managers (AFP). In a typical bilateral contract the AFP retained much of the risk and the Insurance Company acted in practice as a reinsurer. The process to hire this contract was not competitive and colligated companies ended up providing the service. Several distortions affected competition in the market through incentives to cream-skim members by AFPs (since they bear most of the risk) or efforts to block disability claims. Since the price of this insurance is hidden in the fees charged by AFPs for the administration of individual accounts and pension funds there was lack of price transparency. Since new AFPs have no history of members’ disability and mortality profile the insurance contract acted as a barrier to entry in the market of AFP services, especially when D&S insurance costs reached 50% of total costs. Cross-subsidies between members of the same AFP, inefficient risk pooling (due to pooling occurring at the AFP rather than at the system level) and regulatory arbitrage, since AFPs provided insurance not being regulated as an insurance company, were also present. A centralized auction mechanism solves these market failures, but also gives raise to new challenges, such as how to design a competitive auction that attracts participation and deters collusion. Design features that were incorporated in the regulation to tackle these issues, such as dividing coverage into predefined percentage blocks, are presented

  19. Addressing crop interactions within cropping systems in LCA

    DEFF Research Database (Denmark)

    Goglio, Pietro; Brankatschk, Gerhard; Knudsen, Marie Trydeman

    2018-01-01

    objectives of this discussion article are as follows: (i) to discuss the characteristics of cropping systems which might affect the LCA methodology, (ii) to discuss the advantages and the disadvantages of the current available methods for the life-cycle assessment of cropping systems, and (iii) to offer...... management and emissions, and (3) functional unit issues. The LCA approaches presented are as follows: cropping system, allocation approaches, crop-by-crop approach, and combined approaches. The various approaches are described together with their advantages and disadvantages, applicability...... considers cropping system issues if they are related to multiproduct and nutrient cycling, while the crop-by-crop approach is highly affected by assumptions and considers cropping system issues only if they are related to the analyzed crop. Conclusions Each LCA approach presents advantages and disadvantages...

  20. Industrial Services Contracts

    CERN Document Server

    2006-01-01

    This document gives an overview of Industrial Services contracts at CERN, including the probable expenditure in 2006 and the estimated expenditure for 2007. The Finance Committee is invited: - to take note of the revised amount in 2006 for Industrial Services contracts referred to in this document of 138.02 MCHF at 2006 prices compared to the previously anticipated amount of 122.67 MCHF at 2005 prices; - to take note that the estimated amount in 2007 for the contracts referred to in this document will be 112.54 MCHF at 2006 prices; - for the reasons set out in this document, the Finance Committee is also invited to approve the requests for the contracts presented and highlighted in the Annexes.

  1. Premature Ventricular Contractions (PVCs)

    Science.gov (United States)

    ... Premature ventricular contractions (PVCs) Symptoms & causes Diagnosis & treatment Advertisement Mayo Clinic does not endorse companies or products. ... a Job Site Map About This Site Twitter Facebook Google YouTube Pinterest Mayo Clinic is a not- ...

  2. Superfund Contract Laboratory Program

    Science.gov (United States)

    The Contract Laboratory Program (CLP) is a national network of EPA personnel, commercial laboratories, and support contractors whose primary mission is to provide data of known and documented quality to the Superfund program.

  3. Establishing contract periods

    International Nuclear Information System (INIS)

    Huffman, F.C.

    1978-01-01

    The lead time for executing the Adjustable Fixed-Commitment (AFC) contract and exceptions which may be considered are discussed. The initial delivery period is also discussed. Delays, deferrals, and schedule adjustment charges are finally considered

  4. Contracting the Facebook API

    Directory of Open Access Journals (Sweden)

    Ben Rubinger

    2010-09-01

    Full Text Available In recent years, there has been an explosive growth in the popularity of online social networks such as Facebook. In a new twist, third party developers are now able to create their own web applications which plug into Facebook and work with Facebook's "social" data, enabling the entire Facebook user base of more than 400 million active users to use such applications. These client applications can contain subtle errors that can be hard to debug if they misuse the Facebook API. In this paper we present an experience report on applying Microsoft's new code contract system for the .NET framework to the Facebook API.We wrote contracts for several classes in the Facebook API wrapper which allows Microsoft .NET developers to implement Facebook applications. We evaluated the usefulness of these contracts during implementation of a new Facebook application. Our experience indicates that having code contracts provides a better and quicker software development experience.

  5. Distributed System Contract Monitoring

    Directory of Open Access Journals (Sweden)

    Adrian Francalanza Ph.D

    2011-09-01

    Full Text Available The use of behavioural contracts, to specify, regulate and verify systems, is particularly relevant to runtime monitoring of distributed systems. System distribution poses major challenges to contract monitoring, from monitoring-induced information leaks to computation load balancing, communication overheads and fault-tolerance. We present mDPi, a location-aware process calculus, for reasoning about monitoring of distributed systems. We define a family of Labelled Transition Systems for this calculus, which allow formal reasoning about different monitoring strategies at different levels of abstractions. We also illustrate the expressivity of the calculus by showing how contracts in a simple contract language can be synthesised into different mDPi monitors.

  6. Meteorological risks and impacts on crop production systems in Belgium

    Science.gov (United States)

    Gobin, Anne

    2013-04-01

    Extreme weather events such as droughts, heat stress, rain storms and floods can have devastating effects on cropping systems. The perspective of rising risk-exposure is exacerbated further by projected increases of extreme events with climate change. More limits to aid received for agricultural damage and an overall reduction of direct income support to farmers further impacts farmers' resilience. Based on insurance claims, potatoes and rapeseed are the most vulnerable crops, followed by cereals and sugar beets. Damages due to adverse meteorological events are strongly dependent on crop type, crop stage and soil type. Current knowledge gaps exist in the response of arable crops to the occurrence of extreme events. The degree of temporal overlap between extreme weather events and the sensitive periods of the farming calendar requires a modelling approach to capture the mixture of non-linear interactions between the crop and its environment. The regional crop model REGCROP (Gobin, 2010) enabled to examine the likely frequency and magnitude of drought, heat stress and waterlogging in relation to the cropping season and crop sensitive stages of six arable crops: winter wheat, winter barley, winter rapeseed, potato, sugar beet and maize. Since crop development is driven by thermal time, crops matured earlier during the warmer 1988-2008 period than during the 1947-1987 period. Drought and heat stress, in particular during the sensitive crop stages, occur at different times in the cropping season and significantly differ between two climatic periods, 1947-1987 and 1988-2008. Soil moisture deficit increases towards harvesting, such that earlier maturing winter crops may avoid drought stress that occurs in late spring and summer. This is reflected in a decrease both in magnitude and frequency of soil moisture deficit around the sensitive stages during the 1988-2008 period when atmospheric drought may be compensated for with soil moisture. The risk of drought spells during

  7. Statutes and contracts

    DEFF Research Database (Denmark)

    Trosborg, Anna

    1995-01-01

    This paper is concerned with the language used in legal speech acts in legislative texts and contracts in the field of English Contract Law. The central objects of study are regulative functions with a particular view to establishing realization patterns of the rhetorical functions of directive...... institutions, as well as in terms of the face redress required by the socio-pragmatic situation. Udgivelsesdato: JAN...

  8. Corrupt Relational Contracting

    OpenAIRE

    Johann Graf Lambsdorff; Sitki Utku Teksoz

    2002-01-01

    Because corruption must be hidden from the public and is not enforced by courts it entails transaction costs, which are larger than those from legal exchange. This suggests that corrupt contracts are primarily relational contracts where legal exchange serves as a basis for sealing and enforcing corrupt agreements. Legal exchange not only provides for corrupt opportunities, but for the necessary enforcement mechanisms. Examples of such legal exchange are long-term business exchange, belonging ...

  9. An unsatisfactory contract policy

    CERN Multimedia

    Staff Association

    2012-01-01

    For the last 15 years contract policy has been one of the top priorities of CERN staff, as expressed in successive surveys initiated by the Staff Association. In one’s professional life, having some forward vision of one’s career prospects is the key to loyalty and motivation. On the contrary, instability about the future is always at the root of anxiety, conflicts, or even health problems. A good employer must therefore balance the needs of the Company and those of its employees. CERN’s current contract policy, as described in the Administrative Circular No 2, states that staff members should first obtain a limited duration (LD) contract of up to five years. Then, if they want to stay in the Organization, staff members must apply, usually once a year, and before the end of their LD contract, for an indefinite contract (IC) post. All candidates for an IC post are considered by the Review Board for the award of indefinite contracts (Review Board) which will choose the most suita...

  10. Global gridded crop model evaluation

    NARCIS (Netherlands)

    Müller, Christoph; Elliott, Joshua; Chryssanthacopoulos, James; Arneth, Almut; Balkovic, Juraj; Ciais, Philippe; Deryng, Delphine; Folberth, Christian; Glotter, Michael; Hoek, Steven; Iizumi, Toshichika; Izaurralde, Roberto C.; Jones, Curtis; Khabarov, Nikolay; Lawrence, Peter; Liu, Wenfeng; Olin, Stefan; Pugh, Thomas A.M.; Ray, Deepak K.; Reddy, Ashwan; Rosenzweig, Cynthia; Ruane, Alex C.; Sakurai, Gen; Schmid, Erwin; Skalsky, Rastislav; Song, Carol X.; Wang, Xuhui; Wit, De Allard; Yang, Hong

    2017-01-01

    Crop models are increasingly used to simulate crop yields at the global scale, but so far there is no general framework on how to assess model performance. Here we evaluate the simulation results of 14 global gridded crop modeling groups that have contributed historic crop yield simulations for

  11. Biotechnology: herbicide-resistant crops

    Science.gov (United States)

    Transgenic, herbicide-resistant (HR) crops are planted on about 80% of the land covered by transgenic crops. More than 90% of HR crios are glyphosate-resistant (GR) crops, the others being resistant to glufosinate. The wide-scale adoption of HR crops, largely for economic reasons, has been the mos...

  12. Grand challenges for crop science

    Science.gov (United States)

    Crop science is a highly integrative science using the disciplines of conventional plant breeding, transgenic crop improvement, plant physiology, and cropping system sciences to develop improved varieties of agronomic, turf, and forage crops to produce feed, food, fuel, and fiber for our world's gro...

  13. BEHAVIORAL ASPECTS IN INSURANCE MARKET

    Directory of Open Access Journals (Sweden)

    Stroe Andreea

    2013-07-01

    In this paper there are showed and debated some situation in which psychological effects like loss aversion, reference point, status-quo and framming effects can influence the deccision of the consumer and are not consistent with the standard economic model.In addition to this aspects, Cumulative Prspect Theory enhance the fact that decision makers overestimate low peobabilities and underestimate high probabilities,thus buying inadequate insurance in many situation.in thiss sense, in order to support this idea I tried to make a qualitative presentation of the model used on the insurance market using Prelec function which is the function related with the Cumulative Prospect Theory which can be used in the insurance context.The weak points of the theory of expected utility are explained through this new perspectives and nevertheless aspects like insensivity to bad news concerning incomes,elasticity of price,displacements of status-quo and default,disposition effect and equity premium are taken into consideration.As example,I chose a Kunreuther experiment about insurance decision in with is underlyined the fact that for moderate risk people buy insurance with premiums that exceed the expected loss.There are demands for low deductibles in the the markets for extended guarantees and insurances for mobile phones where was observed that the insurance underwriting rate increases with the probability of loss keeping the expected loss constant.It is better to mention that the theory and the model that are presented here comes as complementary to the economic standard theory not as a substitute.

  14. Energy from field crops

    Energy Technology Data Exchange (ETDEWEB)

    Zubr, J.

    1990-04-15

    At the Research Station of Royal Veterinary and Agricultural University, Copenhagen, Denmark, investigation concerning cultivation and exploitation of field crops for production of fuels was carried out during the period 1986-1989. High yielding crops, such as sugar beet - BETA VULGARIS, jerusalem artichoke - HELIANTHUS TUBEROSUS, rhubarb - RHEUM RHAPONTICUM, and comfrey - SYMPHYTUM ASPERUM, were grown experimentally in the field. Different cultivation methods for the crops were used and evaluated. Simultaneously with the field experiment, laboratory investigation was carried out to determine the energy potential of different products and by-products from the crops processes, such as alcoholic and methanogenic fermantation. Production expenses for the crops were determined, and cost of the fuels was estimated. The experimental results show that beet is a superior crop for the climatic conditions of Northern Europe. In the season 1986, yields exceeded 20 t TS/ha in the form of roots and tops, where achieved. A combined exploitation of beet roots and tops via alcoholic and methanogenic fermantation gave a gross energy corresponding to 80 hl OE/ha/yr. Using methanogenic fermentation exclusively, from ensiled beet roots and tops, gross energy yield corresponding to 85 hl IE/ha/yr, was achieved. The cost of energy in the form of alcohol from beet roots was estimated to be 5.17 DKK/1 OE (0.64 ECU/l OE). The cost of energy in the form of methane from ensiled beet tops, was estimated to be 2.68 DKK/l OE (0.33 ECU/l OE). At the present time, methane produced on the basis of ensiled beet roots and tops appears to be competitive with fossil fuels. Irrespective of the cost, however, the possibility of producing clean energy from field crops remains of interest for the future. (author) 27 refs.

  15. Made in the USA: the import of American Consumer Assessment of Health Plan Surveys (CAHPS) into the Dutch social insurance system.

    NARCIS (Netherlands)

    Delnoij, D.; Asbroek, G. ten; Arah, O.; Koning, J. de; Stam, P.; Poll, A.; Klazinga, N.S.

    2004-01-01

    Background: In the Dutch social insurance system, based on regulated competition, sickness funds should attract clients by contracting efficient and qualitatively good services. For that sake, sickness funds need information about their own performance and about the quality of care they contract, as

  16. Made in the USA: the import of American Consumer Assessment of Health Plan Surveys (CAPHS) into the Dutch social insurance system.

    NARCIS (Netherlands)

    Delnoij, D.M.J.; Asbroek, G. ten; Arah, O.; Koning, J. de; Stam. P.; Poll, A.; Vriens, B.; Schmidt, P.; Klazinga, N.S.

    2006-01-01

    Background: In the Dutch social insurance system, based on regulated competition, sickness funds should attract clients by contracting efficient and qualitatively good services. For that sake, sickness funds need information about their own performance and about the quality of care they contract, as

  17. Subordinate debt, deposit insurance and market oriented monitoring of banks

    Directory of Open Access Journals (Sweden)

    Gaurav S. Chauhan

    2016-09-01

    Full Text Available We present a model of a bank with endogenous risk choices, where delegated monitoring by an active market in subordinate debt helps in containing the bank's risk shifting in the presence of deposit insurance. In comparison to static ex ante contracting, an active market enables continuous monitoring by subordinate debt to penalise the bank's risk shifting. The model is instrumental in deriving optimal level of subordinate debt required to achieve equilibrium where banks choose risk levels consistent with the first best as envisaged by a social planner. The optimal quantity of subordinate debt further eliminates any risk shifting associated even with risk insensitive premiums.

  18. Forecasting Fire Insurance Loss Ratio in Misr Insurance Company

    Directory of Open Access Journals (Sweden)

    Tarek TAHA

    2017-06-01

    Full Text Available Loss ratio is one of the most important indicator that has many strategic decisions applications, such as pricing, underwriting, investment, reinsurance and reserving decisions. It serves as an early warning of financial solvency of insurance companies and it can be judged on the strength of the financial position of these companies. The aim of this study is to identify the reliable time series-forecasting model to forecast loss ratio estimates of fire segment in Misr insurance company. Box-Jenkins Analysis is applied on actual reported loss ratios data for Misr insurance company for the period 1980/1981– 2013/2014. The study concludes that the best forecasting model is ARMA(1,1.

  19. Insurance Applications of Active Fault Maps Showing Epistemic Uncertainty

    Science.gov (United States)

    Woo, G.

    2005-12-01

    Insurance loss modeling for earthquakes utilizes available maps of active faulting produced by geoscientists. All such maps are subject to uncertainty, arising from lack of knowledge of fault geometry and rupture history. Field work to undertake geological fault investigations drains human and monetary resources, and this inevitably limits the resolution of fault parameters. Some areas are more accessible than others; some may be of greater social or economic importance than others; some areas may be investigated more rapidly or diligently than others; or funding restrictions may have curtailed the extent of the fault mapping program. In contrast with the aleatory uncertainty associated with the inherent variability in the dynamics of earthquake fault rupture, uncertainty associated with lack of knowledge of fault geometry and rupture history is epistemic. The extent of this epistemic uncertainty may vary substantially from one regional or national fault map to another. However aware the local cartographer may be, this uncertainty is generally not conveyed in detail to the international map user. For example, an area may be left blank for a variety of reasons, ranging from lack of sufficient investigation of a fault to lack of convincing evidence of activity. Epistemic uncertainty in fault parameters is of concern in any probabilistic assessment of seismic hazard, not least in insurance earthquake risk applications. A logic-tree framework is appropriate for incorporating epistemic uncertainty. Some insurance contracts cover specific high-value properties or transport infrastructure, and therefore are extremely sensitive to the geometry of active faulting. Alternative Risk Transfer (ART) to the capital markets may also be considered. In order for such insurance or ART contracts to be properly priced, uncertainty should be taken into account. Accordingly, an estimate is needed for the likelihood of surface rupture capable of causing severe damage. Especially where a

  20. Evaluating the Welfare of Index Insurance

    DEFF Research Database (Denmark)

    Harrison, Glenn W.; Martínez-Correa, Jimmy; Ng, Jia Min

    risks that are different from preferences exhibited for their actuarially-equivalent counterparts. We study the potential link between index insurance demand and attitudes towards compound risks. We test the hypothesis that the compound risk nature of index insurance induced by basis risk negatively...... measurement and the actual losses of the insured. It is not easy to predict the direction in which basis risk is going to affect insurance demand, in contrast to the clear and strong predictions for standard indemnity insurance products. Index insurance can be theoretically conceptualized as a situation...... affects both the demand for the product and the welfare of individuals making take-up decisions. We study the impact of basis risk on insurance take-up and on expected welfare in a laboratory experiment with an insurance frame. We measure the expected welfare of index insurance to individuals while...