Business intelligence for insurance companies

OpenAIRE

IGNATIUK A.

2016-01-01

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.

Disability management in a sample of Australian self-insured companies.

Science.gov (United States)

Westmorland, M; Buys, N; Clements, N

2002-09-20

Disability management (DM) is a term developed in North America and refers to the prevention and management of injury and illness in the workplace. The purpose of this paper is to report findings of an Australian study that examined whether self-insured employers in that country have implemented integrated DM programmes. Key principles underpinning such programmes are explored to identify the extent to which Australian employers have adopted them. Data was collected from 29 self-insured Australian companies in three Australian States using a structured interview format with additional open-ended questions. It was found that companies have in place, to varying degrees, some of the key elements of disability management programmes. However, these elements were often not well integrated in a comprehensive disability management approach. The focus on workplace-based, early intervention in the area of return to work for injured employees was particularly strong, but there was little evidence of formal labour-management committee structures responsible for implementing DM programmes. If the concept of DM is relevant to the Australian environment then this study would suggest that self-insured companies need to undertake further work to develop integrated approaches to preventing and managing disability in the workplace. Several limitations of this study are highlighted and it is concluded that further work in this area is needed.

BUSINESS INTELLIGENCE FOR INSURANCE COMPANIES

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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.

The Effects of Health Shocks on Employment and Health Insurance: The Role of Employer-Provided Health Insurance

Science.gov (United States)

Bradley, Cathy J.; Neumark, David; Motika, Meryl

2012-01-01

Background Employment-contingent health insurance (ECHI) has been criticized for tying insurance to continued employment. Our research sheds light on two central issues regarding employment-contingent health insurance: whether such insurance “locks” people who experience a health shock into remaining at work; and whether it puts people at risk for insurance loss upon the onset of illness, because health shocks pose challenges to continued employment. Objective To determine how men’s dependence on their own employer for health insurance affects labor supply responses and health insurance coverage following a health shock. Data Sources We use the Health and Retirement Study (HRS) surveys from 1996 through 2008 to observe employment and health insurance status at interviews two years apart, and whether a health shock occurred in the intervening period between the interviews. Study Selection All employed married men with health insurance either through their own employer or their spouse’s employer, interviewed in at least two consecutive HRS waves with non-missing data on employment, insurance, health, demographic, and other variables, and under age 64 at the second interview. We limited the sample to men who were initially healthy. Data Extraction Our analytical sample consisted of 1,582 men of whom 1,379 had ECHI at the first interview, while 203 were covered by their spouse’s employer. Hospitalization affected 209 men with ECHI and 36 men with spouse insurance. A new disease diagnosis was reported by 103 men with ECHI and 22 men with other insurance. There were 171 men with ECHI and 25 men with spouse employer insurance who had a self-reported health decline. Data Synthesis Labor supply response differences associated with ECHI – with men with health shocks and ECHI more likely to continue working – appear to be driven by specific types of health shocks associated with future higher health care costs but not with immediate increases in morbidity that

SOLVENCY OF INSURANCE COMPANIES IN THE ROMANIA

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MARIA MIRABELA FLOREA IANC

2014-08-01

Full Text Available The insurance companies operating in a competitive and dynamic economic climate, so solvency is a very important problem. The guarantee funds protect policyholders against situations where insurers can not meet its contractual obligations, and supervisors constant attention is how to regulate the insurance business. Overall solvency of insurance companies show that has been achieved relative success in this area due to regulations adopted. Although in recent years the number of insolvency cases increased worrying emphasis on solvency control should lead to a reduction in the occurrence of such cases and the increased safety offered by insurance products.

The Intra-Industry Effects of Life Insurance Company Demutualizaton

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Joseph W. Meador

2008-12-01

Full Text Available We examine the impact of demutualization announcements by 13 life insurance companies during 1996-2000 on the value of existing stock-owned life insurance companies and companies in other segments of the insurance industry. Demutualization announcements are associated with negative stock price reactions in the days around the announcement, and with larger and positive stock price reactions in the days following announcement. Overall, the results support the contention that life insurance company demutualizations signal favorable future industry conditions and/or increased likelihood of future acquisitions for all segments of the insurance industry. Active-minded investors may use these results to develop alpha-generating investment strategies.

26 CFR 1.822-5 - Mutual insurance company taxable income.

Science.gov (United States)

2010-04-01

... Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or... by the following examples: Example 1. The X Company, a mutual fire insurance company subject to the... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Mutual insurance company taxable income. 1.822-5...

AN ANALYSIS OF TEAMWORK IN THE INSURANCE COMPANIES

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Luka Stanić

2017-01-01

Full Text Available The paper is designed and contextualized as a meaningful whole which includes the triple helix model: a combination of science, the real sector and local government. The basis of this research is teamwork in insurance companies operating in eastern Croatia whose indicators reflect on other insurance companies in Croatia and beyond. The conclusions of the paper suggest that teamwork is omnipresent in insurance companies, and that it affects the efficiency in meeting their objectives. A survey was used to test and prove the hypotheses, indicating that especially during the economic crisis it is crucial to invest in human resources and encourage teamwork via key motivational factors. The conclusions of the paper show that teamwork contributes to the efficiency of the organization, dissemination of new ideas and greater synergy within the insurance company.

26 CFR 1.802(b)-1 - Tax on life insurance companies.

Science.gov (United States)

2010-04-01

.... For the definition of the term “1954 life insurance company taxable income”, see § 1.805-1. (b) The... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Tax on life insurance companies. 1.802(b)-1...) INCOME TAX (CONTINUED) INCOME TAXES Life Insurance Companies § 1.802(b)-1 Tax on life insurance companies...

Relationships among Components of Insurance Companies and Services’ Quality

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Šebjan Urban

2014-11-01

Full Text Available Background and Purpose: An increasing number of insurance companies and the intensity of competition in this field require research on customer perceptions of the components of insurance services and insurance company. The objective of this study was to examine the conceptual model and to study the relationships between customer perceptions of the innovation, reputation, adequacy of premium, and adequacy of information about the coverage of insurance services.

Internal controls subjects at insurance companies

OpenAIRE

Прокопенко, Жанна Володимирівна

2015-01-01

The problematic issues of determining the authorities of the internal controls subjects at insurance companies have been elucidated. The list of internal controls subjects of insurer depending on the form of control as well as the purposefulness of such kind of control have been determined.

EFFICIENCY OF THE INVESTMENT STRATEGY OF THE INSURANCE COMPANIES IN UKRAINE

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R. Pikus

2015-04-01

Full Text Available The article explores the theoretical basis for the formation of an effective investment strategy of the insurance company. It was determined that, depending on the insurer’s conduct and risk factor and yield of funds, investment strategy can be aggressive, moderate and conservative. The main factors that characterize conservative, aggressive and moderately conservative investment strategy are defined. The characteristic of the structure of the investment portfolio of domestic insurance companies is determined. There are insurance companies which conduct an aggressive, conservative and moderately conservative investment strategy. In the article defined the main directions of investments of insurance companies in Ukraine which include bank deposits, government securities and shares. Determined that majority of insurance companies in the insurance market of Ukraine followed a conservative investment strategy which is the least risky. It is noted that in view of difficult economic situation in Ukraine, insurance companies need to develop an effective investment strategy to ensure their ability to pay.

NATIONAL EMPLOYER HEALTH INSURANCE SURVEY (NEHIS)

Science.gov (United States)

The National Employer Health Insurance Survey (NEHIS) was developed to produce estimates on employer-sponsored health insurance data in the United States. The NEHIS was the first Federal survey to represent all employers in the United States by State and obtain information on all...

78 FR 35360 - Surety Companies Acceptable on Federal Bonds: Terminations-American Economy Insurance Company...

Science.gov (United States)

2013-06-12

...: Terminations-- American Economy Insurance Company (NAIC 19690); American States Insurance Company (NAIC 19704... Circular 570, 2012 Revision, published July 2, 2012, at 77 FR 39322. FOR FURTHER INFORMATION CONTACT... officials should annotate their reference copies of the Treasury Department Circular 570 (Circular), 2012...

Insurance companies' perspectives on the orphan drug pipeline.

Science.gov (United States)

Handfield, Robert; Feldstein, Josh

2013-11-01

Rare diseases are of increasing concern to private and public healthcare insurance plans. Largely neglected by manufacturers before the 1983 passing of the Orphan Drug Act (ODA), orphan drugs have become a commercialization target of steadily increasing importance to the healthcare industry. The ODA mandates the coverage of rare diseases, which are defined in research communities as diseases that are so infrequent that there is no reasonable expectation of a drugmaker recovering the cost of developing that drug. To determine the views of leading commercial US payers regarding providing access to and coverage for orphan drugs; to assess whether and to what degree cost-effectiveness analysis (CEA) is viewed by payers as relevant to rare disease coverage. The study sample was identified through a call for action sent by America's Health Insurance Plans to its members, resulting in 4 interviews conducted and 3 completed surveys from a total of 7 companies. These 7 US health insurance companies represent approximately 75% of the US private insurance market by revenue and include approximately 157 million covered lives (using self-reported data from insurance companies). Representatives of 3 companies responded to the survey, and representatives of 4 companies were interviewed via the phone. The interviews were conducted with subject matter experts at each company and included 2 senior vice presidents of a pharmacy program, 1 chief medical director, and 1 head of pharmacoeconomics. The surveys were completed by 1 vice president of clinical pharmacy strategy, 1 chief pharmacy director, and 1 medical director. Based on the responses in this study, approximately 67% of US private insurance companies are concerned about orphan drugs, but only approximately 17% have developed meaningful strategies for addressing the cost of orphan drugs. Of the companies who do have such a strategy, 100% are unsure how to determine the best economic assessment tools to control orphan drug

Employer-Sponsored Health Insurance: Are Employers Good Agents for Their Employees?

OpenAIRE

Peele, Pamela B.; Lave, Judith R.; Black, Jeanne T.; Evans III, John H.

2000-01-01

Employers in the United States provide many welfare-type benefits, such as life insurance, disability insurance, health insurance, and pensions, to their employees. Employers can be viewed as performing an agency role in purchasing pension, health, and other welfare benefits for their employees. An exploration of their competence in this role as agents for their employees indicates that large employers are very helpful to their employees in this arena. They seem to contribute to individual em...

THE FREQUENT LABOUR TURNOVER IN INSURANCE COMPANIES IN NIGERIA : (Case : Nigerian Insurance sector)

OpenAIRE

Onashile, Ademola

2012-01-01

The essence of this thesis is to ascertain the causes, effects and solutions to the frequent labour turnover in the Nigerian insurance companies. Incessant labour turnover has become a phenomenon which many insurance companies have been vehemently battling with as this has undermined their potentials and strengths. The research methodology adopted is the qualitative method which involves the use of telephone interview with the aid of a voice recorder gadget. Therefore, the telepho...

THE MODEL OF INTERACTION BETWEEN INSURANCE INTERMEDIARIES AND INSURANCE COMPANIES IN THE ASSURANCE OF SUSTAINABLE DEVELOPMENT OF THE INSURANCE MARKET

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Nataliia Kudriavska

2017-11-01

Full Text Available The purpose of this paper is the investigation of the model of interaction between insurance intermediaries and insurance companies in the assurance of sustainable development of the insurance market. The methodology is based on the new studies and books. It is underlined the importance of potency and effectiveness of this model, its influence on the insurance market stability. It is analysed the European experience and specific of Ukrainian insurance market. The main ways for improving its model and ways of its practical realization are characterized. Results. The problems that exist in the broker market in general are connected with an ineffective state policy. In particular, we can say about the absence of many laws, acts, resolutions, which explain what a broker have to do in case of different problems with insurance companies, another brokers and clients. At the same time, the problem of distrust to national brokers exists. It provokes a decline of the demand for their services and so on. However, it is possible to solve these problems. Practical implications. For this, it is necessary to do some acts. The first one is to implement resolutions that regulate relationships between insurance brokers and insurance companies, clearly regulate the model of its interaction. This model affects the stability of the insurance market in general. The second is to find methods of solving problems of the increase in insurance culture of the population (for example, by the way of advertisement. The third one is to solve problems connected with the appearance of foreign brokers in the insurance market of Ukraine. Actually, the Ukrainian market of insurance brokers is not developed enough. That is why it needs big changes and reforms. Value/originality. Among alternatives of the strategic development of insurance, the method of quick liberalization and gradual development is distinguished. According to the liberal way, it is possible to transfer to the

75 FR 36153 - Surety Companies Acceptable on Federal Bonds-Terminations: Victore Insurance Company

Science.gov (United States)

2010-06-24

... from this company, and bonds that are continuous in nature should not be renewed. The Circular may be... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds--Terminations: Victore Insurance Company AGENCY: Financial Management Service, Fiscal Service, Department of the...

Efficiency of insurance companies: Application of DEA and Tobit analyses

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Eva Grmanová

2017-10-01

Full Text Available The aim of this paper is to determine the relationship between technical efficiency and profitability of insurance companies. The profitability of insurance companies was expressed by such indicators as ROA, ROE and the size of assets. We analysed 15 commercial insurance companies in Slovakia in the period of 2013-2015. Technical efficiency scores were expressed using DEA models. The relationship between the technical efficiency score and the indicators of profitability was expressed using censored regression, i.e. the Tobit regression model and the Mann-Whitney U-test. The relationship between the technical efficiency score in the CCR and BCC models and all the groups formed on the basis of the return on assets and the group formed basing on the return on equity was not confirmed. Statistically significant difference between average technical efficiency score in the CCR model in the group of insurance companies with ROA

Performance evaluation of the insurance companies based on AHP

Science.gov (United States)

Lu, Manhong; Zhu, Kunping

2018-04-01

With the entry of foreign capital, China's insurance industry is under increasing pressure of competition. The performance of a company is the external manifestation of its comprehensive strength. Therefore, the establishment of a scientific evaluation system is of practical significance for the insurance companies. In this paper, based on the financial and non-financial indicators of the companies, the performance evaluation system is constructed by means of the analytic hierarchy process (AHP). In the system, the weights of the indicators which represent the impact on the performance of the companies will be calculated by the process. The evaluation system is beneficial for the companies to realize their own strengths and weaknesses, so as to take steps to enhance the core competitiveness of the companies.

Development of Investment Activities of Commercial Insurance Companies in Slovak, Czech and Austrian Insurance Markets in 2004-2009

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Marek Meheš

2011-05-01

Full Text Available The contribution deals with investments of commercial insurance companies operating in Slovak, Czech and Austrian insurance market in the period of 2004–2009. First of all, development of technical reserves volume as an important prerequisite of investing of commercial insurance companies will be characterized. After that, we evaluate financial placements and investment activities – ratio of total investments and technical reserves. We also present statistical tests by means of which we examine the existence of the relation between the volume of technical reserves and the volume of investments of commercial insurance companies.

Insurance Companies Adapting to Trends by Adopting Medical Tourism.

Science.gov (United States)

Paul, David P; Barker, Tyler; Watts, Angela L; Messinger, Ashley; Coustasse, Alberto

Health care costs in the United States are rising every year, and patients are seeking new ways to control their expenditures and save money. Going abroad to receive health care is a cheaper alternative than receiving the same or similar care at home. Insurance companies are beginning to realize the benefits of medical tourism for both themselves and their beneficiaries and have therefore started to introduce medical tourism plans for their clients as an option for their beneficiaries. This research study explores the benefits and risks of medical tourism and examines the US insurance market's reaction to the trend of increasing medical tourism. The US medical tourism industry mirrors that of the United Kingdom in recent years, with more patients seeking care abroad than in the United States. Insurance companies have introduced new plans providing the option of traveling abroad to countries such as India and Costa Rica. Medical tourism is gaining popularity with US residents, and insurance companies are recognizing this trend.

Financial Health of a Commercial Insurance Company and its Coherences

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Svatopluk Nečas

2016-05-01

Full Text Available Purpose of the article: The main purpose of the article is to define the term “financial health of a commercial insurance company” and identify the factors that influence management and its economic results of a commercial insurance company. The above mentioned term will be faced with other similar terms such as financial stability, financial strength, solvency, liquidity or profitability (always with emphasis on the insurance sector. Related to this purpose, this hypothesis is formulated: “Financial health of a commercial insurance company can be identified in the long perspective with the term financial stability and as its synonym the concept of solvency can be stated.” Methodology/methods: The methods of description, analysis, deduction and induction will be used in the article. The research part is based on a qualitative basis. It combines three methods of qualitative research: interviews with experts, a structured interview with open questions, a questionnaire with open questions. Its subject is a managed conversation with leading experts in the field of insurance and related branches, who answered questions related to the topic. Evaluation of interviews was done by method of interview analysis, respectively thematic analysis and subsequent synthesis based on respondents’ answers. The synthesis is used as a method to gain new knowledge. The conclusions are the basis for discussion for the theory completion in the case of the term mentioned above and for statements to other contexts that are defined in the objectives of the article. Synthetic approach is applied in the formulation of conclusions of the research. Significant findings for the theory are obtained by abstraction, as derived from observations of the issues, i.e. financial health of a commercial insurance company. The evaluation also includes a summary of significant matters and it reflects the opinion of the author devised throughout literature and based on interviews

Using Clinical Decision Support Software in Health Insurance Company

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Konovalov, R.; Kumlander, Deniss

This paper proposes the idea to use Clinical Decision Support software in Health Insurance Company as a tool to reduce the expenses related to Medication Errors. As a prove that this class of software will help insurance companies reducing the expenses, the research was conducted in eight hospitals in United Arab Emirates to analyze the amount of preventable common Medication Errors in drug prescription.

75 FR 6791 - Surety Companies Acceptable on Federal Bonds-Termination: Trinity Universal Insurance Company

Science.gov (United States)

2010-02-10

.... However, no new bonds should be accepted from this company, and bonds that are continuous in nature should... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds--Termination: Trinity Universal Insurance Company AGENCY: Financial Management Service, Fiscal Service...

75 FR 33897 - Surety Companies Acceptable on Federal Bonds-Terminations: Commercial Alliance Insurance Company

Science.gov (United States)

2010-06-15

... be accepted from this company, and bonds that are continuous in nature should not be renewed. The... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds--Terminations: Commercial Alliance Insurance Company AGENCY: Financial Management Service, Fiscal Service...

75 FR 38188 - Surety Companies Acceptable on Federal Bonds-Termination: Stonebridge Casualty Insurance Company

Science.gov (United States)

2010-07-01

... should be accepted from this company, and bonds that are continuous in nature should not be renewed. The... DEPARTMENT OF THE TREASURY Fiscal Service [NAIC 10952] Surety Companies Acceptable on Federal Bonds--Termination: Stonebridge Casualty Insurance Company AGENCY: Financial Management Service, Fiscal...

75 FR 81331 - Surety Companies Acceptable on Federal Bonds: Termination-Penn Millers Insurance Company

Science.gov (United States)

2010-12-27

... should be accepted from this company, and bonds that are continuous in nature should not be renewed. The... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds: Termination--Penn Millers Insurance Company AGENCY: Financial Management Service, Fiscal Service, Department...

31 CFR 103.16 - Reports by insurance companies of suspicious transactions.

Science.gov (United States)

2010-07-01

..., such as terrorist financing or ongoing money laundering schemes, the insurance company shall... fraudulent submission relates to money laundering or terrorist financing. (e) Retention of records. An... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Reports by insurance companies of...

Asset Liability Management in Insurance Company

OpenAIRE

Giandomenico, Rossano

2006-01-01

The model, by using the option theory, determines the fair value of the insurance life policies with different time of maturity and shows that the effective liabilities duration of an Insurance Company exposed to the default risk is different from the duration of a default free zero coupon bond with the same time of maturity. Furthermore, it shows that the value of equity can be immunized in a dynamic way with respect to the movement of the spot rate by selling and purchasing the default fre...

The application of variable sampling method in the audit testing of insurance companies' premium income

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Jovković Biljana

2012-12-01

Full Text Available The aim of this paper is to present the procedure of audit sampling using the variable sampling methods for conducting the tests of income from insurance premiums in insurance company 'Takovo'. Since the incomes from the insurance premiums from vehicle insurance and third-party vehicle insurance have the dominant share of the insurance company's income, the application of this method will be shown in the audit examination of these incomes - incomes from VI and TPVI premiums. For investigating the applicability of these methods in testing the income of other insurance companies, we shall implement the method of variable sampling in the audit testing of the premium income from the three leading insurance companies in Serbia, 'Dunav', 'DDOR' and 'Delta Generali' Insurance.

Analysis of the differences in the management of a conventional and a takaful insurance company

OpenAIRE

Fonseca, Melbourne

2008-01-01

The dissertation is based on the comaprison of takaful insurance company and a conventional insurance company in Bahrain. The dissertation takes a closer look at the performance of the insurance industry in Bahrain and the growth and development of the takaful insurance companies in the G.C.C region.

The use of data mining by private health insurance companies and customers' privacy.

Science.gov (United States)

Al-Saggaf, Yeslam

2015-07-01

This article examines privacy threats arising from the use of data mining by private Australian health insurance companies. Qualitative interviews were conducted with key experts, and Australian governmental and nongovernmental websites relevant to private health insurance were searched. Using Rationale, a critical thinking tool, the themes and considerations elicited through this empirical approach were developed into an argument about the use of data mining by private health insurance companies. The argument is followed by an ethical analysis guided by classical philosophical theories-utilitarianism, Mill's harm principle, Kant's deontological theory, and Helen Nissenbaum's contextual integrity framework. Both the argument and the ethical analysis find the use of data mining by private health insurance companies in Australia to be unethical. Although private health insurance companies in Australia cannot use data mining for risk rating to cherry-pick customers and cannot use customers' personal information for unintended purposes, this article nonetheless concludes that the secondary use of customers' personal information and the absence of customers' consent still suggest that the use of data mining by private health insurance companies is wrong.

Optimal Capital Structure for Insurance Companies

NARCIS (Netherlands)

Laeven, R.J.A.; Perotti, E.C.

2010-01-01

This paper analyzes the capital structure decision that insurance companies face. A structural microeconomic model is constructed and solved by means of dynamic optimization. The model allows for a careful analysis of various aspects pertaining to the basic economic trade-off between increasing the

Career adaptability and employee engagement of adults employed in an insurance company: An exploratory study

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Rebecca Tladinyane

2016-05-01

Full Text Available Orientation: As a resiliency resource, career adaptability relates to an individual’s ability to adapt to new work demands and is seen to impact various occupational outcomes such as engagement. Research purpose: The aim of the study was to determine the relationship dynamics between career adaptability (measured by Career Adapt-Abilities Scale and employee engagement (measured by Utrecht Work Engagement Scale. Motivation for the study: As a personal resource, career adaptability enables employees to deal with job demands, facilitating employee engagement. Limited research exists on the impact of career adaptability variables on employee engagement, bearing significant relevance in the current workforce. Research design, approach and method: A quantitative survey was conducted with a convenience sample (N = 131 of employees in an insurance company within South Africa. Main findings/results: Significant positive relationships were found between career adaptability and employee engagement. The results suggest that participants who have experienced higher employee engagement have better developed career adaptability skills. Practical implications: Managers and human resource practitioners need to recognise how people’s career adaptability influences their level of engagement in the organisation. Contribution: This research is the first to investigate the construct of career adaptability in an insurance company and the findings add to the existing career literature and provide valuable information that can be used to inform career development and engagement strategies. Keywords: career adaptability; career development; employee engagement; vocational guidance.

77 FR 42554 - Surety Companies Acceptable on Federal Bonds-Termination: Peerless Insurance Company (NAIC #24198)

Science.gov (United States)

2012-07-19

... should be accepted from this company, and bonds that are continuous in nature should not be renewed. The... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds--Termination: Peerless Insurance Company (NAIC 24198) AGENCY: Financial Management Service, Fiscal Service...

Сryptocurrency as an object of economic analysis in insurance companies

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O.O. Poplavskiy

2016-12-01

Full Text Available The article is devoted to topical issues of economic nature of cryptocurrency and development of the theoretical approaches for its analysis in insurance companies. The attention has been focused to risks and opportunities of cryptocurrency in modern economy, its place in evolution of money. The author studied the international experience of cryptocurrency operation in insurance companies order to identify trends of development of the industry and to determine their potential impact on the domestic insurance sector. The legal status of bitcion, main popular cryptocurrency, in different countries of the world has not been left without attention. The author has defined that bitcion is prohibited in states with low level of insurance density and penetration (like Bangladesh, Russia, Indonesia and is legalized in development countries, such USA, Japan, Germany and others. Major indicators of analysis of cryptocurrency in insurance companies which can be used for management decisions have been suggested.

Evaluation of the League General Insurance Company child safety seat distribution program

Science.gov (United States)

1982-05-01

This report presents an evaluation of the child safety seat distribution initiated by the League General Insurance Company in June 1979. The program provides child safety seats as a benefit under the company's auto insurance policies to policy-holder...

Employer health insurance offerings and employee enrollment decisions.

Science.gov (United States)

Polsky, Daniel; Stein, Rebecca; Nicholson, Sean; Bundorf, M Kate

2005-10-01

To determine how the characteristics of the health benefits offered by employers affect worker insurance coverage decisions. The 1996-1997 and the 1998-1999 rounds of the nationally representative Community Tracking Study Household Survey. We use multinomial logistic regression to analyze the choice between own-employer coverage, alternative source coverage, and no coverage among employees offered health insurance by their employer. The key explanatory variables are the types of health plans offered and the net premium offered. The models include controls for personal, health plan, and job characteristics. When an employer offers only a health maintenance organization married employees are more likely to decline coverage from their employer and take-up another offer (odds ratio (OR)=1.27, phealth plan coverage an employer offers affects whether its employees take-up insurance, but has a smaller effect on overall coverage rates for workers and their families because of the availability of alternative sources of coverage. Relative to offering only a non-HMO plan, employers offering only an HMO may reduce take-up among those with alternative sources of coverage, but increase take-up among those who would otherwise go uninsured. By modeling the possibility of take-up through the health insurance offers from the employer of the spouse, the decline in coverage rates from higher net premiums is less than previous estimates.

Premium growth and its effect on employer-sponsored insurance.

Science.gov (United States)

Vistnes, Jessica; Selden, Thomas

2011-03-01

We use variation in premium inflation and general inflation across geographic areas to identify the effects of downward nominal wage rigidity on employers' health insurance decisions. Using employer level data from the 2000 to 2005 Medical Expenditure Panel Survey-Insurance Component, we examine the effect of premium growth on the likelihood that an employer offers insurance, eligibility rates among employees, continuous measures of employee premium contributions for both single and family coverage, and deductibles. We find that small, low-wage employers are less likely to offer health insurance in response to increased premium inflation, and if they do offer coverage they increase employee contributions and deductible levels. In contrast, larger, low-wage employers maintain their offers of coverage, but reduce eligibility for such coverage. They also increase employee contributions for single and family coverage, but not deductibles. Among high-wage employers, all but the largest increase deductibles in response to cost pressures.

Effective advocacy for patients with inflammatory bowel disease: communication with insurance companies, school administrators, employers, and other health care overseers.

Science.gov (United States)

Jaff, Jennifer C; Arnold, Janis; Bousvaros, Athos

2006-08-01

In addition to their physical challenges, children and adolescents with inflammatory bowel disease (IBD) living in the United States face a number of administrative and regulatory hurdles that affect their quality of life. This article, written by a physician, attorney/patient advocate, and social worker, discusses a number of these challenges and describes how the provider can help his or her patient overcome them. Specifically, the article discusses 4 areas in detail: appeals of denials of coverage from insurance companies and third party payors; assisting children with IBD with classroom and school accommodations; assisting uninsured children in obtaining Social Security benefits; and aiding a parent to care for their child using the Family and Medical Leave Act. Although this article has a pediatric focus, adults have similar advocacy needs. Case examples and sample letters to third-party payors, schools, and employers are included in this article.

Employer-provided health insurance and hospital mergers.

Science.gov (United States)

Garmon, Christopher

2013-07-01

This paper explores the impact of employer-provided health insurance on hospital competition and hospital mergers. Under employer-provided health insurance, employer executives act as agents for their employees in selecting health insurance options for their firm. The paper investigates whether a merger of hospitals favored by executives will result in a larger price increase than a merger of competing hospitals elsewhere. This is found to be the case even when the executive has the same opportunity cost of travel as her employees and even when the executive is the sole owner of the firm, retaining all profits. This is consistent with the Federal Trade Commission's findings in its challenge of Evanston Northwestern Healthcare's acquisition of Highland Park Hospital. Implications of the model are further tested with executive location data and hospital data from Florida and Texas.

Identification of the Level of Financial Security of an Insurance Company

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Kozmenko Serhiy M.

2014-02-01

Full Text Available The article is devoted to theoretical and practical aspects of identification of financial security of the insurer. The article justifies urgency of identification of the level of financial security of the insurer and its qualitative assessment. It offers a scientific and methodical approach to identification of the level of financial security of the insurer on the basis of the conducted analysis of advantages and shortcomings of the existing approaches. The basis of the developed methods is a generalised assessment of the level of financial security of the insurer, which is offered to be carried out on the basis of calculation of statistical and dynamic integral indicators of financial security of the insurance company. The obtained integral assessments allow making a conclusion about efficiency of the selected strategy of the insurer and its ability to oppose to negative influence of threats to financial security. Results of calculation of integral indicators of financial security of the insurer allow identification of influence of fraud as the main threat to financial security of domestic insurance companies. The proposed approach was realised in practice of Ukrainian insurers and proved its efficiency.

Upravljanje Rizicima Osiguravajućih Kompanija / Risk Management of Insurance Companies

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Zeljić Danijela

2015-06-01

Full Text Available When providing protection to the insurees, insurance companies are faced with many risks which are classified in different ways. Risks are increasingly diverse, and the globalization of business has led to a greater probability in terms of their achievements, as well as to the high intensity of the possible consequences. Because of this the process of risk management is a major challenge of modern insurance companies.

78 FR 37409 - Small Business Size Standards: Finance and Insurance and Management of Companies and Enterprises

Science.gov (United States)

2013-06-20

... and Insurance and Management of Companies and Enterprises AGENCY: U.S. Small Business Administration..., Finance and Insurance, and for two industries in NAICS Sector 55, Management of Companies and Enterprises..., Finance and Insurance, and in NAICS code Sector 55, Management of Companies and Enterprises, to determine...

Analysis of Financial Ratio to Distinguish Indonesia Joint Venture General Insurance Company Performance using Discriminant Analysis

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Subiakto Soekarno

2012-01-01

Full Text Available Insurance industry stands as a service business that plays a significant role in Indonesiaeconomical condition. The development of insurance industry in Indonesia, both of generalinsurance and life insurance, has increased very fast. The general insurance industry itselfdivided into two major players which are local private company and Joint Venture Company.Lately, the use of statistical techniques and financial ratios models to asses financial institutionsuch as insurance company have been used as one of the appropriate combination inpredicting the performance of an industry. This research aims to distinguish between JointVenture General Insurance Companies that have a good performance and those who are lessperforming well using Discriminant Analysis. Further, the findings led that DiscriminantAnalysis is able to distinguish Joint Venture General Insurance Companies that have a goodperformance and those who are not performing well. There are also six ratios which are RBC,Technical Reserve to Investment Ratio, Debt Ratio, Return on Equity, Loss Ratio, and ExpenseRatio that stand as the most influential ratios to distinguish the performance of joint venturegeneral insurance companies. In addition, the result suggest business people to be concernedtoward those six ratios, to increase their companies’ performance.Key words: general insurance, financial ratio, discriminant analysis

Satisfaction of staff of Swiss insurance companies with medical appraisals: a cross sectional study

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Gyr Niklaus

2011-03-01

Full Text Available Abstract Background A high quality of timely delivered medical appraisals is crucial for social and other insurances to judge possible occupational reintegration measures for patients with medical conditions who are in danger to lose their job. However, little is known about the satisfaction of staff of insurance companies with medical appraisals that they have commissioned. Our questionnaire survey prospectively included all medical appraisals arriving at Swiss insurances from FEB to APR 2008. We assessed the satisfaction of the commissioner with medical appraisals performed by medical assessors. In addition, we evaluated the contribution of several factors to overall satisfaction. The unit of sample was the medical appraisal. Findings We analysed 3165 medical appraisals, 2444 (77% of them from the public disability insurance, 678 (22% from private accident, liability and loss of income insurances and 43 (1% from other insurances. Overall satisfaction of staff of insurance companies in Switzerland was high, but satisfaction of the disability insurance with appraisals was generally lower compared to satisfaction of private insurances. The staff of the disability insurance judged time for preparation as too long in 30%. For staff of private insurance companies 20% of appraisals were not "worth its price". Well-grounded and comprehensible conclusions were the single most important factor for high overall satisfaction (OR 10.1; 95%-CI: 1.1-89.3. Conclusions From the viewpoint of staff of insurance companies, a relevant part of medical appraisals arrives too late. Medical assessors have to take the specific needs of insurances into account, to perform more appraisals with sound conclusions in due time.

Medical malpractice reform and employer-sponsored health insurance premiums.

Science.gov (United States)

Morrisey, Michael A; Kilgore, Meredith L; Nelson, Leonard Jack

2008-12-01

Tort reform may affect health insurance premiums both by reducing medical malpractice premiums and by reducing the extent of defensive medicine. The objective of this study is to estimate the effects of noneconomic damage caps on the premiums for employer-sponsored health insurance. Employer premium data and plan/establishment characteristics were obtained from the 1999 through 2004 Kaiser/HRET Employer Health Insurance Surveys. Damage caps were obtained and dated based on state annotated codes, statutes, and judicial decisions. Fixed effects regression models were run to estimate the effects of the size of inflation-adjusted damage caps on the weighted average single premiums. State tort reform laws were identified using Westlaw, LEXIS, and statutory compilations. Legislative repeal and amendment of statutes and court decisions resulting in the overturning or repealing state statutes were also identified using LEXIS. Using a variety of empirical specifications, there was no statistically significant evidence that noneconomic damage caps exerted any meaningful influence on the cost of employer-sponsored health insurance. The findings suggest that tort reforms have not translated into insurance savings.

The Lexis plot for run-off non-life insurance companies in United Kingdom

Science.gov (United States)

Samsudin, Humaida Banu

2014-06-01

This study is intended to look at the company's age to be one of the predictor for financially distressed non-life insurance companies in United Kingdom. Financial distress is a condition where a company has difficulty paying off its obligations to its creditors. For this study, Lexis plot is used to identify either younger companies or older companies are in run-off. Run-off is a process where many insurance companies stop underwriting policies long before they reach financial crisis or financial distress. The study utilises financial data of 22 years from year 1985 to year 2006 for 397 companies. From the study, it is identified that younger companies are more in financial distress than older companies.

Specifics of the Unearned Premium Reserve in the Accounting of Commercial Insurance Companies

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Jana Gláserová

2014-01-01

Full Text Available Commercial insurance companies are liable to create, on the basis of risks arising from the fulfillment of the object of their activity, technical reserves, which are used to cover liabilities arising to insurance companies from insurance and reinsurance activity. The paper focuses on the technical reserve which is, in accordance with the accounting-legal regulation, created obligatorily in commercial insurance companies – it is the unearned premium reserve.The paper explores the role and place of this technical reserve in the accounting of the commercial insurance companies based on the analysis of its substance, i.e. the objective definition. The paper is based on the methodology of the accounting, evaluation and methods of determining the amount of the technical reserve which will affect the income from operations as well as income tax base of commercial insurance companies. The paper also studied the method of reporting of unearned premium reserve in accounting according to Czech accounting legislation in comparison with International Accounting Standards (IAS/IFRS. The aim of this paper is to determine the impacts of the creation and application of the unearned premium reserve on some important items of the financial statements, which are mainly the income of operations, equity capital and balance sheet as well as to identify the impacts of different reporting of this reserve according to Czech accounting legislation and in accordance with IAS/IFRS. Performing the analysis of the accounting-legal regulation of the unearned premium reserve in the insurance companies, the analysis of the method of accounting of this reserve and also the comparison of reporting of this reserve according to both mentioned regulations is a prerequisite for the fulfillment of the aim.

75 FR 60833 - Jackson National Life Insurance Company, et al.;

Science.gov (United States)

2010-10-01

... SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 29442; File No. 812-13765] Jackson National Life Insurance Company, et al.; Notice of Application September 27, 2010. AGENCY: Securities and Exchange Commission (``Commission''). ACTION: Notice of application for an order under section...

THE USE OF NEW DISTRIBUTION CHANNELS TO INCREASE THE EFFICIENCY OF INSURANCE COMPANIES

Directory of Open Access Journals (Sweden)

Olga N. Kozlova

2017-09-01

Full Text Available The article deals with the issues of increasing the efficiency of insurance companies on the basis of using new non-traditional distribution channels. The relevance of the topic is justified by the automation of management processes, a new generation of consumers focused on new technologies, the use of the Internet, growing and selling functional mobile gadgets. The insurance companies use new distribution channels via the Internet network along with the traditional means for the expansion of the insurance portfolio and attracting active and passive consumers. The calculations carried out on the basis of the data of the Bank of Russia show that the share of such sales is growing, but not leading. The use of the Internet depends on many factors, but primarily on the types of insurance. The authors carry out calculations on the use of distribution channels in various types of insurance. The complexity and variety of products on life insurance requires qualified intermediaries, therefore, the use of new distribution channels here is not widespread in contrast to classical accident insurance or compulsory insurance, where sales are more efficient when organizing through the Internet. Selling through Internet has a number of advantages that reduce the cost of doing business, reduce the agency network, the cost of print advertising to attract passive and strengthen the relationship with active consumers. The authors also conduct analysis of the advantages and disadvantages of using mobile gadgets to work with potential customers, quantitative and qualitative benefits of implementing mobile apps in the work of insurance companies. The conclusions are made about the complexity of calculation of economic efficiency of implementing mobile applications. The possible directions of increasing the efficiency of using new distribution channels by insurance companies are defined.

76 FR 37194 - Surety Companies Acceptable In Federal Bonds; Termination; Clearwater Insurance Company

Science.gov (United States)

2011-06-24

... to the U.S. Department of the Treasury, Financial Management Service, Financial Accounting and...: June 16, 2011. Laura Carrico, Director, Financial Accounting and Services Division, Financial...; Termination; Clearwater Insurance Company AGENCY: Financial Management Service, Fiscal Service, Department of...

Implications of European Directives in the Assessment of Insurance Companies

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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.

A Comparative Analysis between Commercial Banks and Insurance Companies in Bangladesh on the basis of Capital Structure

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Md. Moniruzzaman

2017-08-01

Full Text Available This research aims to compare the capital structure of Bangladeshi commercial banks and insurance companies. This research tries to identify how debt-equity mix influences firm performance in banks and insurance companies in Bangladesh. The annual financial statements of 10 commercial banks and 10 insurance Companies were used for this study which covers a period of five (5 years from 2011-2015. The study assesses the capital structure of the commercial banks and insurance companies measured by total debt to equity ratio (DER, total debt to total funds ratio and performance by ROE, ROA, and EPS. Descriptive statistics, t-test have been used to show the differences between commercial banks and insurance companies capital structure and performance. However this study concludes that there is no significant difference between Bank and insurance companies EPS& ROE but there is a significant difference between Bank and insurance company’s D/A ratio, D/E ratio and ROA. We have tried to find out the significances of capital structure on depository and non-depository financial institutions from this study.

76 FR 37891 - Surety Companies Acceptable on Federal Bonds; Termination; Western Insurance Company

Science.gov (United States)

2011-06-28

... the U.S. Department of the Treasury, Financial Management Service, Financial Accounting and Services.... Laura Carrico, Director, Financial Accounting and Services Division, Financial Management Service. [FR...; Termination; Western Insurance Company AGENCY: Financial Management Service, Fiscal Service, Department of the...

75 FR 18908 - Jackson National Life Insurance Company, et al.

Science.gov (United States)

2010-04-13

... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-29205; File No. 812-13703] Jackson National Life Insurance Company, et al. April 7, 2010. AGENCY: The Securities and Exchange Commission (``Commission''). ACTION: Notice of application for an order under Section 6(c) of the Investment Company Act of...

76 FR 19150 - Jackson National Life Insurance Company, et al.

Science.gov (United States)

2011-04-06

... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-29621; File No. 812-13841] Jackson National Life Insurance Company, et al. March 31, 2011. AGENCY: The Securities and Exchange Commission (``Commission'') ACTION: Notice of application for an order under Section 6(c) of the Investment Company Act of...

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

Science.gov (United States)

2013-09-05

... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-30681; File No. 812-13973] American General Life Insurance Company, et al. August 29, 2013, AGENCY: The Securities and Exchange Commission (``Commission''). ACTION: Notice of application for an order under Section 6(c) of the Investment Company Act of...

26 CFR 1.832-6 - Policyholders of mutual fire or flood insurance companies operating on the basis of premium...

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Policyholders of mutual fire or flood insurance... Insurance Companies § 1.832-6 Policyholders of mutual fire or flood insurance companies operating on the... taxpayer insured by a mutual fire or flood insurance company under a policy for which the premium deposit...

The Negro in the Insurance Industry. The Racial Policies of American Industry.

Science.gov (United States)

Fletcher, Linda Pickthorne

The structure of the insurance industry, its employment figures, and factors influencing such employment are analyzed in this study. Regional assessment of the insurance companies' progress toward equal employment was inconclusive due to many variables, although it was indicated that companies in the Eastern region of the country are by far the…

THE ROLE OF HEALTH INSURANCE COMPANIES IN THE FINANCIAL PROVISION OF FREE MEDICAL CARE

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Lyudmila Valentinovna Tokun

2016-01-01

Full Text Available This article discusses the features of the mandatory health insurance, the financial resources of health care and the characteristics of the Russian health care system. The article defines the need to apply the SWOT-analysis to the activities of medical organizations, it analyses the interconnection between the criteria of quality, availability and payment for services and their accordance to the sector of economics, which produces or pays for the service. Goal / Objectives: The goal of this article is to study the compulsory health insurance system, its pros and cons in the health system. The objectives of this paper is to identify the sources of financing of compulsory health insurance, the definition of the stages of formation of financial flows, the designation of the role of insurance companies in the compulsory health insurance system, the study of the processes of formation of funds of health insurance companies, the definition of the role of the compulsory health insurance in the risk protection and study of the positive and negative aspects of the modern health care system. Methodology: Methods of comparison, analysis and synthesis are used in this article. Results: as a result of the conducted research authors have made conclusions about the need for the major changes in the financing of public health care. The scope of work of health insurance companies requires increase in number of staff , premises, additional hardware and software. Health insurance companies should be motivated to maintain the health of the population and its improvement. Conclusions: The results of this research can be used to build a system of motivation in the health insurance organizations.

Evolution of insurance company service quality survey, using self-learning neural network

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Vladimír Konečný

2011-01-01

Full Text Available The objective of the paper is to demonstrate the abilities and possible approaches to classification of set of objects using self-organizing maps. As the objects, clients of an insurance company that made an agreement regarding mandatory insurance of motor vehicles were selected. The opinions of the clients and their overall satisfaction reflected in responses to presented answers. The clients were classified into three groups. The first two contained satisfied clients (i.e. good clients for the company, the last group contained clients that could potentially switch to the competitors. Subsequent analysis enabled discovering the reasons of low customer satisfaction and critical factors of losing the least satisfied clients. For the analysis of the responses (one hundred fifty-one and the insurance company, experimental model of self-organizing map realized at the Department of informatics was used. Used experimental model has proved very effective software tool.

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

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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

JURISTIC OBSTACLE IN DECLARING BANKRUPTCY AGAINST INSURANCE COMPANY WHICH FAIL TO SETTLE ITS DEBT LIABILITY

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Ali Imron

2017-03-01

Full Text Available Legal obligation to pay compensation of an insurance company arise immediatelyafter the evenement occurred, if this obligation not being settled right away it can becategorized as “fall due debt” and “claimable”, and this can be used as a reason to proposebankruptcy application. The creditor’s fundamental rights practically impeded by Section 2article (5 of Insolvency Act, which give absolute authority to Minister of Finance in proposingbankruptcy application for insurance company. This authority is attached to the status of Ministerof Finance as the guider and supervisor of insurance institution in Indonesia, but this authorityoften might reduce people’s trust to insurance institution itself if it is not used carefully andwisely. For the sake of law and justice, Minister of Finance should acts proportionally if thebankruptcy application doesn’t have enough reason, according to Minister’s authority in thecase of bankruptcy application for insurance company against their insured and other creditors.

SOCIAL RESPONSABILITY OF INSURANCE COMPANIES

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MĂRĂCINE MIHAELA SIMONA

2013-06-01

Full Text Available The role of corporate social responsibility has increased significantly nowadays. The studies conducted have shown that consumers are increasingly no longer interested only in buying good quality and reliable products, but they are also interested whether they were produced in a socially responsible manner. In the recent years investors have increasingly realised that investing in social responsibility regarding the social and environmental areas, greatly contributes to the growth of the internal and external image of management. This paper aims at presenting a number of interesting issues related to social responsibility manifested by the insurance companies.

Developing a Model of the Efficient Management of Reserve Capital of an Endowment Insurance Company in the Ukrainian Market

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Kapustian Volodymir O.

2017-06-01

Full Text Available The article is concerned with developing a model of the effective management of reserve capital of an endowment insurance company or so-called endowment life insurance. Such companies are powerful actors at the international market, operate with considerable capital and are effective as active investors in different areas. The main features of functioning of endowment insurance companies, as well as the factors that guarantee the sustainable development of insurance companies in both the global and Ukrainian markets, were considered. The principles of management of financial resources of insurance companies were studied. An elaborated model of management of current and reserve capital has been provided, the mechanism for establishing and operating the insurance company’s current capital, taking into account the process of income of insurance premiums and the payment of dividends on poles, has been described. An analysis of the largest endowment insurance companies in the Ukrainian market was carried out. Based on the analysis, the recommended discount rate has been calculated for the model proposed in the article.

Effects of employer-sponsored health insurance costs on Social Security taxable wages.

Science.gov (United States)

Burtless, Gary; Milusheva, Sveta

2013-01-01

The increasing cost of employer contributions for employee health insurance reduces the share of compensation subject to the Social Security payroll tax. Rising insurance contributions can also have a more subtle effect on the Social Security tax base because they influence the distribution of money wages above and below the taxable maximum amount. This article uses the Medical Expenditure Panel Survey to analyze trends in employer health insurance contributions and the distribution of those costs up and down the wage distribution. Our analysis shows that employer health insurance contributions increased faster than overall compensation during 1996-2008, but such contributions grew only slightly faster among workers earning less than the taxable maximum than they did among those earning more. Because employer health insurance contributions represent a much higher percentage of compensation below the taxable maximum, health insurance cost trends exerted a disproportionate downward pressure on money wages below the taxable maximum.

The Impact of the Macroeconomic Environment on Insurance Companies

OpenAIRE

Čepeláková, Lenka

2015-01-01

i Abstract: This thesis assesses the impact of economic, institutional and demographic factors on the life and non-life gross written premiums of insurance companies. A dynamic panel data regression using the system generalized method of mo- ments is applied on data of 29 European countries collected by EIOPA covering the period from 2005 to 2013. The results reveal that economic and institutio- nal factors drive both life and non-life insurance industry. On the other hand, we cannot confirm ...

17 CFR 230.489 - Filing of form by foreign banks and insurance companies and certain of their holding companies...

Science.gov (United States)

2010-04-01

... that is a foreign bank or foreign insurance company excepted from the definition of investment company... is excepted from the definition of investment company by rule 3a-1 (17 CFR 270.3a-1) under the 1940... excepted from the definition of investment company by rule 3a-6 under the 1940 Act. (b) The requirements of...

Employer-sponsored health insurance and the gender wage gap.

Science.gov (United States)

Cowan, Benjamin; Schwab, Benjamin

2016-01-01

During prime working years, women have higher expected healthcare expenses than men. However, employees' insurance rates are not gender-rated in the employer-sponsored health insurance (ESI) market. Thus, women may experience lower wages in equilibrium from employers who offer health insurance to their employees. We show that female employees suffer a larger wage gap relative to men when they hold ESI: our results suggest this accounts for roughly 10% of the overall gender wage gap. For a full-time worker, this pay gap due to ESI is on the order of the expected difference in healthcare expenses between women and men. Copyright © 2015 Elsevier B.V. All rights reserved.

78 FR 52719 - Tax Credit for Employee Health Insurance Expenses of Small Employers

Science.gov (United States)

2013-08-26

... Tax Credit for Employee Health Insurance Expenses of Small Employers AGENCY: Internal Revenue Service... Section 45R(a) provides for a health insurance tax credit in the case of an eligible small employer for... employee enrolled in health insurance coverage offered by the employer in an amount equal to a uniform...

Substantial Churn In Health Insurance Offerings By Small Employers, 2014-15.

Science.gov (United States)

Vistnes, Jessica P; Rohde, Frederick; Miller, G Edward; Cooper, Philip F

2017-09-01

New data for 2014-15 from the Medical Expenditure Panel Survey-Insurance Component longitudinal survey show substantial churn in insurance offers by small employers (those with fifty or fewer workers), with 14.6 percent of employers that offered insurance in 2014 having dropped it in 2015 and 5.5 percent of those that did not offer it adding coverage. Project HOPE—The People-to-People Health Foundation, Inc.

Accounting and tax implications of the creation and use of technical provisions of commercial insurance companies

Directory of Open Access Journals (Sweden)

Jana Gláserová

2013-01-01

Full Text Available Entities such as commercial insurance companies are obliged to create technical provisions in order to fulfill their activities. Technical provisions are used to cover liabilities of commercial insurance companies arising from insurance and reinsurance activities. The principal aim of this paper is to determine the impact of the creation and use of technical provisions for some important items of the financial statements, which are liabilities, a balance sheet, profit and an income tax base. A prerequisite to fulfill the objective of the paper is to analyze the accounting legislation for technical provisions in an insurance company. The intention of the presented paper can be divided according to its conception into two parts. The first part of the paper is devoted to methodological aspects in relation to the general definition of the accounting principles and their importance in the accounting of commercial insurance companies. The second part deals with the methodological procedure of the accounting of the creation and use of technical provisions and the specifics of how they are reported in the financial statements of commercial insurers. Conclusions of the paper show contemporary issues in the analyzed area in the context of the financial crisis.

Business Storytelling and Leadership in the Insurance Companies from Romania

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Viorica Păuș

2013-12-01

Full Text Available The research addresses a new concept introduced into the managerial practice of the insurance industry from Romania and it aims to test the hypothesis that success, performance and competitiveness of the organizations in the insurance industry depend also on the quality of the leadership and the leaders’ ability to use storytelling, taking into account the intangibility of the insurance products. The main tool that this exploratory, qualitative research has used is the structured interview with three target groups, which we considered to be relevant: CEOs/managers of insurance companies and insurance brokerage firms, public relations specialists and economic journalists. The results of our research endeavours may be of interest for both the managers, employees and communication specialists in the insurance industry and the business world in general, for which the introduction of storytelling in the leadership practices might increase the attractiveness not only for employees, but also for stakeholders and customers.

THE USE OF NEW DISTRIBUTION CHANNELS TO INCREASE THE EFFICIENCY OF INSURANCE COMPANIES

OpenAIRE

Olga N. Kozlova; Olga N. Kotova; Elizaveta V. Pavlovskaya

2017-01-01

The article deals with the issues of increasing the efficiency of insurance companies on the basis of using new non-traditional distribution channels. The relevance of the topic is justified by the automation of management processes, a new generation of consumers focused on new technologies, the use of the Internet, growing and selling functional mobile gadgets. The insurance companies use new distribution channels via the Internet network along with the traditional means for the expansion of...

77 FR 54621 - Pruco Life Insurance Company, et al;

Science.gov (United States)

2012-09-05

... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-30186; File No. 812-13990] Pruco Life Insurance Company, et al; Notice of Application August 29, 2012. AGENCY: Securities and Exchange Commission (``SEC'' or ``Commission''). ACTION: Notice of application for an order approving the substitution of certain...

The effect of SCHIP expansions on health insurance decisions by employers.

Science.gov (United States)

Buchmueller, Thomas; Cooper, Philip; Simon, Kosali; Vistnes, Jessica

2005-01-01

This study uses repeated cross-sectional data from the Medical Expenditure Panel Survey-Insurance Component (MEPS-IC), a large nationally representative survey of establishments, to investigate the effect of the State Children's Health Insurance Program (SCHIP) on health insurance decisions by employers. The data span the years 1997 to 2001, the period when states were implementing SCHIP. We exploit cross-state variation in the timing of SCHIP implementation and the extent to which the program increased eligibility for public insurance. We find evidence suggesting that employers whose workers were likely to have been affected by these expansions reacted by raising employee contributions for family coverage options, and that take-up of any coverage, generally, and family coverage, specifically, dropped in these establishments. We find no evidence that employers stopped offering single or family coverage outright.

Is employer-based health insurance a barrier to entrepreneurship?

Science.gov (United States)

Fairlie, Robert W; Kapur, Kanika; Gates, Susan

2011-01-01

The focus on employer-provided health insurance in the United States may restrict business creation. We address the limited research on the topic of "entrepreneurship lock" by using recent panel data from matched Current Population Surveys. We use difference-in-difference models to estimate the interaction between having a spouse with employer-based health insurance and potential demand for health care. We find evidence of a larger negative effect of health insurance demand on business creation for those without spousal coverage than for those with spousal coverage. We also take a new approach in the literature to examine the question of whether employer-based health insurance discourages business creation by exploiting the discontinuity created at age 65 through the qualification for Medicare. Using a novel procedure of identifying age in months from matched monthly CPS data, we compare the probability of business ownership among male workers in the months just before turning age 65 and in the months just after turning age 65. We find that business ownership rates increase from just under age 65 to just over age 65, whereas we find no change in business ownership rates from just before to just after for other ages 55-75. We also do not find evidence from the previous literature and additional estimates that other confounding factors such as retirement, partial retirement, social security and pension eligibility are responsible for the increase in business ownership in the month individuals turn 65. Our estimates provide some evidence that "entrepreneurship lock" exists, which raises concerns that the bundling of health insurance and employment may create an inefficient level of business creation. Copyright © 2010 Elsevier B.V. All rights reserved.

Employer-sponsored long-term care insurance: best practices for increasing sponsorship.

Science.gov (United States)

Pincus, J

2000-04-01

Behind the enthusiasm of policymakers for long-term care (LTC) insurance is the belief that increased ownership of private LTC insurance will reduce the government's future liability for financing the nation's LTC needs, currently projected by the Congressional Budget Office to increase by 2.6 percent annually between 2000 and 2040. Some observers say that sustained economic growth could keep these increased expenditures at the same share of total GDP; others argue that current federal expenditure trends will become unsustainable without large tax increases. The potential of the employer-sponsored group LTC market to stave off a national LTC financing crisis has recently started to receive popular notice in the news media. However, for the potential of the group LTC market to be realized, there must be widespread employer sponsorship of group LTC plans and significant participation levels among eligible employees in these plans. The present analysis of industry data estimates the LTC plan sponsorship rate for all U.S. employers with 10 or more employees at 0.2 percent. The sponsorship rate among large employers is significantly higher (8.7 percent). The greatest growth opportunities are projected to lie in the smaller employer market, because it is enormous and virtually untapped. Nonsponsors cite a variety of barriers to employer sponsorship of LTC plans. For many nonsponsors, the most important obstacles are the intrinsic characteristics of their work forces: employees are too young, transient, part-time, and/or low-income to be suitable for LTC insurance. For many others, lack of awareness and low priority are the primary obstacles. Because group LTC insurance has been widely available for only 10 years, many benefits managers view it as "too new and untested." Prior to the passage of the Health Insurance Portability and Accountability Act (HIPAA), in August 1996, the tax treatment of long-term care insurance premiums was unclear because Congress had not

The Effect of Massachusetts' Health Reform on Employer-Sponsored Insurance Premiums.

Science.gov (United States)

Cogan, John F; Hubbard, R Glenn; Kessler, Daniel

2010-01-01

In this paper, we use publicly available data from the Medical Expenditure Panel Survey - Insurance Component (MEPS-IC) to investigate the effect of Massachusetts' health reform plan on employer-sponsored insurance premiums. We tabulate premium growth for private-sector employers in Massachusetts and the United States as a whole for 2004 - 2008. We estimate the effect of the plan as the difference in premium growth between Massachusetts and the United States between 2006 and 2008-that is, before versus after the plan-over and above the difference in premium growth for 2004 to 2006. We find that health reform in Massachusetts increased single-coverage employer-sponsored insurance premiums by about 6 percent, or $262. Although our research design has important limitations, it does suggest that policy makers should be concerned about the consequences of health reform for the cost of private insurance.

Employment, Marriage, and Inequality in Health Insurance for Mexican-Origin Women

Science.gov (United States)

Montez, Jennifer Karas; Angel, Jacqueline L.; Angel, Ronald J.

2009-01-01

In the United States, a woman's health insurance coverage is largely determined by her employment and marital roles. This research evaluates competing hypotheses regarding how the combination of employment and marital roles shapes insurance coverage among Mexican-origin, non-Hispanic white, and African American women. We use data from the 2004 and…

Working capital, profitability, liquidity and solvency of healthcare insurance companies

Directory of Open Access Journals (Sweden)

André Luiz de Souza Guimarães

2010-01-01

Full Text Available The purpose of this study is to analyze the adequacy of a working capital management normative model, in terms of profitability, liquidity and solvency. Through an empirical and analytical research, the analysis of variance results (ANOVA of a sample containing financial information from 621 healthcare insurance companies for the year 2006 ,show that different working capital structures are associated with different levels of profitability, liquidity and solvency, suggesting a preference order different from the one theorized by Fleuriet / Braga. The results indicate that a certain structure - where financial current assets exceed onerous current liabilities, and cyclical current assets exceed cyclical current liabilities ¿ is associated with higher levels of profitability, liquidity and solvency. In addition, the study reiterates the importance of efficient management of working capital to the performance and survival of healthcare insurance companies.

Benefits to a life insurance company from providing radon tests for clients

International Nuclear Information System (INIS)

Cohen, B.L.

1993-01-01

If a life insurance company provided free radon tests to clients, clients' life expectancies would be extended and profits would thereby be increased. This effect is quantified and it is found that the direct monetary benefits to the company could be substantial. Several subsidiary advantages are also discussed

Small employers and self-insured health benefits: too small to succeed?

Science.gov (United States)

Yee, Tracy; Christianson, Jon B; Ginsburg, Paul B

2012-07-01

Over the past decade, large employers increasingly have bypassed traditional health insurance for their workers, opting instead to assume the financial risk of enrollees' medical care through self-insurance. Because self-insurance arrangements may offer advantages--such as lower costs, exemption from most state insurance regulation and greater flexibility in benefit design--they are especially attractive to large firms with enough employees to spread risk adequately to avoid the financial fallout from potentially catastrophic medical costs of some employees. Recently, with rising health care costs and changing market dynamics, more small firms--100 or fewer workers--are interested in self-insuring health benefits, according to a new qualitative study from the Center for Studying Health System Change (HSC). Self-insured firms typically use a third-party administrator (TPA) to process medical claims and provide access to provider networks. Firms also often purchase stop-loss insurance to cover medical costs exceeding a predefined amount. Increasingly competitive markets for TPA services and stop-loss insurance are making self-insurance attractive to more employers. The 2010 national health reform law imposes new requirements and taxes on health insurance that may spur more small firms to consider self-insurance. In turn, if more small firms opt to self-insure, certain health reform goals, such as strengthening consumer protections and making the small-group health insurance market more viable, may be undermined. Specifically, adverse selection--attracting sicker-than-average people--is a potential issue for the insurance exchanges created by reform.

The assessment of solvency and determination of limits for risk acceptance in insurance companies

Directory of Open Access Journals (Sweden)

Drljača Dejan

2017-01-01

Full Text Available The subject of this paper is the presentation of key requirements for Solvency II project, the methodology for testing of capital adequacy and methods for identification, definition and establishment of risk limits, as a limit for acceptance, bearing and control of exposure to certain risks in insurance companies. The aim of the paper is to show that the capital adequacy is the key factor for insurers' safety, i.e. guarantee of capability of an insurer to settle any future liabilities and leverage for strengthening of insurer's market position. Business operations of insurance companies are exposed to a significant number of risks that differ by their nature, character and influence, due to which adequacy of calculated technical reserves does not provide a satisfactory level of safety in case of more significant impairments of assets and funds of insurers, as well as in case of significant deviations between amounts of settled claims and actuarially expected amounts of liabilities based on claims. Stress testing of capital adequacy will show that losses due to impairment of risky securities, difficult collection of low liquid, i.e. securities that are difficult to market, inability to collect receivables from reinsurers, as well as losses due to inadequately calculated reserved claims, must be covered by a solvent capital. The paper is structured so as to provide a review of rules, elements and principles that are the foundation of solvency requirements in insurance companies, methodologies of calculation of guarantee reserve, technical basis for stress testing which assesses capital adequacy of insurers, as well as methods for establishment of limits of exposure to certain risks.

78 FR 54996 - Information Reporting by Applicable Large Employers on Health Insurance Coverage Offered Under...

Science.gov (United States)

2013-09-09

... Information Reporting by Applicable Large Employers on Health Insurance Coverage Offered Under Employer... credit to help individuals and families afford health insurance coverage purchased through an Affordable... or group health insurance coverage offered by an employer to the employee that is (1) a governmental...

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

Estimating workers' marginal valuation of employer health benefits: would insured workers prefer more health insurance or higher wages?

Science.gov (United States)

Royalty, Anne Beeson

2008-01-01

In recent years the cost of health insurance has been increasing much faster than wages. In the face of these rising costs, many employers will have to make difficult decisions about whether to cut back health benefits or to compensate workers with lower wages or lower wage growth. In this paper, we ask the question, "Which do workers value more -- one additional dollar's worth of health benefits or one more dollar in their pockets?" Using a new approach to obtaining estimates of insured workers' marginal valuation of health benefits this paper estimates how much, on average, employees value the marginal dollar paid by employers for their workers' health insurance. We find that insured workers value the marginal health premium dollar at significantly less than the marginal wage dollar. However, workers value insurance generosity very highly. The marginal dollar spent on health insurance that adds an additional dollar's worth of observable dimensions of plan generosity, such as lower deductibles or coverage of additional services, is valued at significantly more than one dollar.

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)

[Determinants of workplace health promotion in the insurance sector: results of a complete survey of German insurance companies in 2006].

Science.gov (United States)

Köhler, T; Janssen, C; Plath, S-C; Steinhausen, S; Pfaff, H

2009-11-01

The present study is aimed to assess the current level of workplace health promotion (WHP) within the German insurance sector and to examine whether and to what extent internal and external factors play a role in implementing non-statutory health promotion measures. Firstly, a telephone survey was conducted of German insurance companies fulfilling the inclusion criteria for the survey (n=258). It was enquired whether these companies wish to participate in a written survey on workplace health promotion. A written questionnaire was then sent to those companies meeting the criteria (n=140). The questionnaire contained questions on the company, number and type of workplace health promotion measures as well as the internal and external framework for workplace health promotion measures. In total, 68 questionnaires were filled in and returned. Linear regression analysis was applied to investigate how external and internal variables influence workplace health promotion. The response rate was 48.57%. Workplace health promotion measures undertaken by those insurance companies taking part in the written survey were largely dominated by behavioural and relational prevention measures. Also on offer were measures from areas such as further education and prevention that seek to improve communication and team work. By contrast, diagnostic activities were only of minor importance. Incorporation into workplace health management (beta=0.469; pmanagement measures with regard to personnel development, organisational development and quality control (beta=0.243; pcompanies should increasingly incorporate such measures into specific health management programmes as well as general management measures with regard to personnel development, organisational development and quality control. Moreover, workplace health promotion measures should always be evaluated in terms of health and economic indicators. It should also be noted that small and medium-sized companies have the largest potential

Employment and insurance outcomes and factors associated with employment among long-term thyroid cancer survivors: a population-based study from the PROFILES registry.

Science.gov (United States)

Tamminga, S J; Bültmann, U; Husson, O; Kuijpens, J L P; Frings-Dresen, M H W; de Boer, A G E M

2016-04-01

To obtain insight into employment and insurance outcomes of thyroid cancer survivors and to examine the association between not having employment and other factors including quality of life. In this cross-sectional population-based study, long-term thyroid cancer survivors from the Netherlands participated. Clinical data were collected from the cancer registry. Information on employment, insurance, socio-demographic characteristics, long-term side effects, and quality of life was collected with questionnaires. Of the 223 cancer survivors (response rate 87 %), 71 % were employed. Of the cancer survivors who tried to obtain insurance, 6 % reported problems with obtaining health care insurance, 62 % with life insurance, and 16 % with a mortgage. In a multivariate logistic regression analysis, higher age (OR 1.07, CI 1.02-1.11), higher level of fatigue (OR 1.07, CI 1.01-1.14), and lower educational level (OR 3.22, CI 1.46-7.09) were associated with not having employment. Employment was associated with higher quality of life. Many thyroid cancer survivors face problems when obtaining a life insurance, and older, fatigued, and lower educated thyroid cancer survivors may be at risk for not having employment.

78 FR 38413 - American Family Life Insurance Company, et al.

Science.gov (United States)

2013-06-26

... conditions. 9. The Contracts are flexible premium variable annuity and variable life insurance contracts. The..., the Company reserves the right to substitute shares of one fund for shares of another, or of another... December 31, 2012, expressed as an annual percentage of average daily net assets, of the Replaced Portfolio...

Employer contribution and premium growth in health insurance.

Science.gov (United States)

Liu, Yiyan; Jin, Ginger Zhe

2015-01-01

We study whether employer premium contribution schemes could impact the pricing behavior of health plans and contribute to rising premiums. Using 1991-2011 data before and after a 1999 premium subsidy policy change in the Federal Employees Health Benefits Program (FEHBP), we find that the employer premium contribution scheme has a differential impact on health plan pricing based on two market incentives: 1) consumers are less price sensitive when they only need to pay part of the premium increase, and 2) each health plan has an incentive to increase the employer's premium contribution to that plan. Both incentives are found to contribute to premium growth. Counterfactual simulation shows that average premium would have been 10% less than observed and the federal government would have saved 15% per year on its premium contribution had the subsidy policy change not occurred in the FEHBP. We discuss the potential of similar incentives in other government-subsidized insurance systems such as the Medicare Part D and the Health Insurance Marketplace under the Affordable Care Act. Copyright © 2014 Elsevier B.V. All rights reserved.

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

OpenAIRE

Istrate Costin; Badea Dumitru

2017-01-01

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 con...

Crop insurance: Risks and models of insurance

Directory of Open Access Journals (Sweden)

Čolović Vladimir

2014-01-01

Full Text Available The issue of crop protection is very important because of a variety of risks that could cause difficult consequences. One type of risk protection is insurance. The author in the paper states various models of insurance in some EU countries and the systems of subsidizing of insurance premiums by state. The author also gives a picture of crop insurance in the U.S., noting that in this country pays great attention to this matter. As for crop insurance in Serbia, it is not at a high level. The main problem with crop insurance is not only the risks but also the way of protection through insurance. The basic question that arises not only in the EU is the question is who will insure and protect crops. There are three possibilities: insurance companies under state control, insurance companies that are public-private partnerships or private insurance companies on a purely commercial basis.

The cost of unintended pregnancies for employer-sponsored health insurance plans.

Science.gov (United States)

Dieguez, Gabriela; Pyenson, Bruce S; Law, Amy W; Lynen, Richard; Trussell, James

2015-04-01

Pregnancy is associated with a significant cost for employers providing health insurance benefits to their employees. The latest study on the topic was published in 2002, estimating the unintended pregnancy rate for women covered by employer-sponsored insurance benefits to be approximately 29%. The primary objective of this study was to update the cost of unintended pregnancy to employer-sponsored health insurance plans with current data. The secondary objective was to develop a regression model to identify the factors and associated magnitude that contribute to unintended pregnancies in the employee benefits population. We developed stepwise multinomial logistic regression models using data from a national survey on maternal attitudes about pregnancy before and shortly after giving birth. The survey was conducted by the Centers for Disease Control and Prevention through mail and via telephone interviews between 2009 and 2011 of women who had had a live birth. The regression models were then applied to a large commercial health claims database from the Truven Health MarketScan to retrospectively assign the probability of pregnancy intention to each delivery. Based on the MarketScan database, we estimate that among employer-sponsored health insurance plans, 28.8% of pregnancies are unintended, which is consistent with national findings of 29% in a survey by the Centers for Disease Control and Prevention. These unintended pregnancies account for 27.4% of the annual delivery costs to employers in the United States, or approximately 1% of the typical employer's health benefits spending for 1 year. Using these findings, we present a regression model that employers could apply to their claims data to identify the risk for unintended pregnancies in their health insurance population. The availability of coverage for contraception without employee cost-sharing, as was required by the Affordable Care Act in 2012, combined with the ability to identify women who are at high

ASSIMILATION OF INVESTMENT POTENTIAL OF INSURANCE COMPANIES THROUGH GOVERNMENT SECURITIES

Directory of Open Access Journals (Sweden)

Angela TIMUS

2017-02-01

Full Text Available Investments in fixed capital and human capital represent a reliable way to the economicdevelopment of the Republic of Moldova. The acceleration of investments can be achieved through anactive and viable financial market. The stimulation of institutional investors and of the process ofsecurities issuing and trading is a strategic development tool for the country. The purpose of the study isto analyze insurance companies as institutional investors and to present opportunities for investment instate securities. Markowitz and Sharpe’s theories of efficient investment portfolios selection based onprofitability and risk formed the theoretical and methodological framework. The research is based on datafrom the National Commission for Financial Markets, on the reports of Moldova’s Ministry of Financeand on the statistics from National Bank a National Bureau of Statistics. For secondary analysis, datareports from international organization such as OECD and Insurance Europe and International MonetaryFund have been used. The study was conducted by classical methods of the economic and financialanalysis. The results of research have shown that government securities are the most profitable of allsecurities issued on the primary financial market in the Republic of Moldova. In recent years, interestrates at the state securities are extremely attractive, more attractive than returns on investment in otherareas. State securities are the safest investment because the guarantor of this investment is government.That is why state securities are a very attractive investment area for insurance companies. The stimulationof the investment activity in the state can be achieved by using the primary market of governmentsecurities as an investment tool for capitalization of the investment potential of the insurance market.

The Effects of Firm-Specific Factors on the Profitability of Non-Life Insurance Companies in Turkey

OpenAIRE

Kaya, Emine Öner

2015-01-01

This study investigates the firm-specific factors affecting the profitability of non-life insurance companies operating in Turkey. For this purpose, data of 24 non-life insurance companies operating in Turkey from the period 2006–2013 were brought together to obtain 192 observed panel data sets. In this study, profitability is measured by two different variables: technical profitability ratio and sales profitability ratio. According to the empirical results, the firm-specific factors affecti...

31 CFR 103.137 - Anti-money laundering programs for insurance companies.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for... Finance FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN TRANSACTIONS Anti-Money Laundering Programs Anti-Money Laundering Programs § 103.137 Anti-money laundering programs for insurance companies...

Solvency II approach to the risk management in commercial insurance companies

Directory of Open Access Journals (Sweden)

Eva Vávrová

2010-01-01

Full Text Available In the year 2001, the European Comission started to revise the legislation Solvency I and to implement a new approach called Solvency II. The regulation called Solvency II is based on regulation considering management of risks of commercial insurance companies. Changes on financial markets and the contemporary financial crisis made financial authorities to formulate principles of regulation based on risk management. Commercial insurance companies across Europe will face a considerable amount of work to be ready for requirements related with Solvency II implementation in the year 2012. Rating agencies, regulators and investors today are demanding that insurers provide detailed assessments of their risk tolerance and quantify the adequacy of their economic capital. To complete such assessments requires a credible baseline for underwriting volatility. Modern portfolio theory for assets teaches that increasing the number of stocks in a portfolio will diversify and reduce the portfolio risk, but will not eliminate risk completely, the systemic market risk remains. In the same way, insurers can reduce underwriting volatility by increasing account volume, but they cannot reduce their volatility to zero. A certain level of systemic insurance risk will always remain, due to factors such as for example the underwriting cycle, macroeconomic factors, legal changes and weather.This presented scientific paper focuses on an analysis of specific goals of the regulation Solvency II and the structure of second pillar of the three-pillar construction (similarity with Basel II banking regulation of Solvency II. The paper was written as part of research project MSM 6215648904, carried out by the Faculty of Business and Economics, under the title “The Czech Republic 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

An Examination of How the Availability of State-backed Terrorism Insurance Programs and Commercial Terrorism Insurance Affects the Operational Decisions of Multinational Companies.

OpenAIRE

GREY, William / WJG

2011-01-01

This dissertation explores the extent to which the operational decisions of multinational companies (MNCs) are affected by the availability of State-backed terrorism insurance programs and commercial terrorism insurance. The initial hypothesis made is that MNCs will be reluctant to invest in zones or countries with high terrorism or political risks, especially when insurance for these risks may be limited or unavailable. This investigation finds that the availability of State-backed terrorism...

Modelling and evaluating customer loyalty using neural networks: Evidence from startup insurance companies

OpenAIRE

Azarnoush Ansari; Arash Riasi

2016-01-01

The purpose of this study is to investigate the customer–service provider relationship in the insurance industry using artificial neural networks and linear regression. Using a sample of 389 customers from 10 different startup insurance companies, it was found that artificial neural networks are an efficient way to evaluate the factors affecting customer loyalty. The results indicated that customer satisfaction and perceived value are significant predictors of customer loyalty. Additionally, ...

The commercial health insurance industry in an era of eroding employer coverage.

Science.gov (United States)

Robinson, James C

2006-01-01

This paper analyzes the commercial health insurance industry in an era of weakening employer commitment to providing coverage and strengthening interest by public programs to offer coverage through private plans. It documents the willingness of the industry to accept erosion of employment-based enrollment rather than to sacrifice earnings, the movement of Medicaid beneficiaries into managed care, and the distribution of market shares in the employment-based, Medicaid, and Medicare markets. The profitability of the commercial health insurance industry, exceptionally strong over the past five years, will henceforth be linked to the budgetary cycles and political fluctuations of state and federal governments.

[Company health promotion as a possible preparatory stage of effective rehabilitation].

Science.gov (United States)

Köpke, K-H

2012-01-01

In Section 20a of Book 5 of the German Social Code (SGB V), the legislator obliged the health insurance funds to carry out company health promotion in cooperation with the accident insurance agency in charge. He thus created a foundation for more health and secure earnings or employment potential in the companies. At the same time company health promotion permits detecting threats to this potential. That helps to identify a possible need for rehabilitation at an earlier stage and to take appropriate action.To verify whether and how this instrument of preventive health policy is being used, an empirical study explored the actual application of that legal provision in small and medium-sized enterprises in particular. The law, administrative measures and company everyday evidence were set against each other under legal and de facto aspects, which showed obvious deficits in applying the law. Proposals for better company health promotion are derived from these findings. In the first place, actors in administration and self-management of the statutory health and accident insurance schemes are addressed to this end, in anticipation of enhanced implementation. A premature reduction of earning capacity could thus be counteracted. Pension insurants could retain gainful employment for a longer time, companies would have a more reliable employee basis. Social insurance carriers, notably the health and pension insurance schemes, would have to spend less in the end. A development like that would be a benefit for all--including the state. © Georg Thieme Verlag KG Stuttgart · New York.

Impacts of Reinsurance Operations on Significant Items of the Financial Statements of Commercial Insurance Companies According to Czech Accounting Legislation and International Accounting Standards

Directory of Open Access Journals (Sweden)

Jana Gláserová

2015-01-01

Full Text Available The principal aim of the paper is to determine the impact of reinsurance operations in commercial insurance companies, in accordance with the relevant accounting legislation, for certain significant items of the financial statements. In actual fact, the reinsurance operations affect the profit of a commercial insurance company, following the financial statements. The prerequisite for fulfilling the objective of the paper is to analyse the accounting legislation for reinsurance operations in commercial insurance companies. Attention will be devoted also to the method of accounting for reinsurance operations and their specific reporting in various parts of the financial statements of commercial insurance companies. The partial aim of this paper is to identify significant differences in the area of accounting of commercial insurance companies, based on the comparison of accounting practices of the issues examined in accordance with IAS/IFRS. In the conclusion, the authors will address the latest development of necessary steps in adopting the concept of IFRS 4 Phase II and accomplishing the process of the application of IFRS 4 Phase II to the accounts of commercial insurance companies.

[Occupational health services as the insurance product and insurance economic instruments].

Science.gov (United States)

Rydlewska-Liszkowska, Izabela

2014-01-01

One of the most controversial issues in restructuring the Polish health insurance system is the implementation of private voluntary insurance and creation within it a new insurance product known as occupational health services (OHS). In this article some opportunities and dilemmas likely to be faced by providers and employers/employees, when contracting with insurance institutions, are considered as a contribution to the discussion on private insurance in Poland. The basic question is how private insurance institutions could influence the promotion of different preventive activities at the company level by motivating both OHS providers and employers. The descriptive qualitative method has been applied in the analysis of legal acts, scientific publications selected according to keywords (Pubmed), documents and expert evaluations and research project results. Taking into account the experiences of European countries, described in publications, international experts' opinions and results of research projects the solution proposed in Poland could be possible under the following several prerequisites: inclusion of a full scope of occupational health services into the insurance product, constant supervision of occupational medicine professionals, monitoring of the health care quality and the relations between private insurers and OHS provider and implementation of the economic incentives scheme to ensure an adequate position of OHS providers on the market. The proposed reconstruction of the health insurance system, comprising undoubtedly positive elements, may entail some threats in the area of health, organization and economy. Private voluntary health insurance implementation requires precisely defined solutions concerning the scope of insurance product, motivation scheme and information system.

The relationship between employer health insurance characteristics and the provision of employee assistance programs.

Science.gov (United States)

Zarkin, G A; Garfinkel, S A

1994-01-01

Workplace drug and alcohol abuse imposes substantial costs on employers. In response, employers have implemented a variety of programs to decrease substance abuse in the workplace, including drug testing, health and wellness programs, and employee assistance programs (EAPs). This paper focuses on the relationship between enterprises' organizational and health insurance characteristics and the firms' decisions to provide EAPs. Using data from the 1989 Survey of Health Insurance Plans (SHIP), sponsored by the Health Care Financing Administration (HCFA), we estimated the prevalence of EAPs by selected organizational and health insurance characteristics for those firms that offer health insurance to their workers. In addition, we estimated logistic models of the enterprises' decisions to provide EAPs as functions of the extent of state substance abuse and mental health insurance mandates, state-level demographic variables, and organizational and health insurance characteristics. Our results suggest that state mandates and demographic variables, as well as organizational and health insurance characteristics, are important explanatory variables of enterprises' decisions to provide EAPs.

Predicting nonrecovery among whiplash patients in the emergency room and in an insurance company setting.

Science.gov (United States)

Rydman, Eric; Ponzer, Sari; Ottosson, Carin; Järnbert-Pettersson, Hans

2017-04-01

To construct and validate a prediction instrument for early identification of patients with a high risk of delayed recovery after whiplash injuries (PPS-WAD) in an insurance company setting. Prospective cohort study. On the basis of a historic cohort (n = 130) of patients with a whiplash injury identified in an emergency room (ER, model-building set), we used logistic regression to construct an instrument consisting of two demographic variables (i.e. questions of educational level and work status) and the patient-rated physical and mental status during the acute phase to predict self-reported nonrecovery after 6 months. We evaluated the instrument's ability to predict nonrecovery in a new cohort (n = 204) of patients originating from an insurance company setting (IC, validation set). The prediction instrument had low reproducibility when the setting was changed from the ER cohort to the IC cohort. The overall percentage of correct predictions of nonrecovery in the ER cohort was 78 % compared with 62 % in the IC cohort. The sensitivity and specificity in relation to nonrecovery were both 78 % in the ER cohort. The sensitivity and specificity in the insurance company setting was lower, 67 and 50 %. Clinical decision rules need validation before they are used in a new setting. An instrument consisting of four questions with an excellent possibility of identifying patients with a high risk of nonrecovery after a whiplash injury in the emergency room was not as useful in an insurance company setting. The importance and type of the risk factors for not recovering probably differ between the settings, as well as the individuals.

Application of Six-Sigma for Data Quality Improvement in an Insurance Company

Directory of Open Access Journals (Sweden)

Mohit Panwar

2015-08-01

Full Text Available Abstract Billions of dollars annually is what poor data quality costs Insurance businesses according to the Data Warehousing Institute. Poor data is also the leading cause of many IT project failures. Many companies are designing their data management programs and quality initiatives to deal with this problem of erroneous and inconsistent data. This paper discusses these topics as well as those detailing how companies can improve their data quality using the quality improvement technique of applying Six-Sigma. The method of creating a new initiative for identifying measuring and controlling the data errors is discussed in this paper. Finally the paper ends with a conclusion and expected results and benefits of the technique. The insurance industry is data-dependent. Today carriers and intermediaries are engaged in improving data capture to help them to better manage their business manage their risk and know their customers. Business and regulatory drivers are pushing the industry to manage its data better.

77 FR 55737 - Small Business Size Standards: Finance and Insurance and Management of Companies and Enterprises

Science.gov (United States)

2012-09-11

... 3245-AG45 Small Business Size Standards: Finance and Insurance and Management of Companies and Enterprises AGENCY: U.S. Small Business Administration. ACTION: Proposed rule. SUMMARY: The U.S. Small... NAICS Sector 55, Management of Companies and Enterprises. In addition, SBA proposes to change the...

Gender and Self-Employment: The Role of Mini-Companies

Science.gov (United States)

Johansen, Vegard

2016-01-01

Purpose: The purpose of this paper is to evaluate to what degree participation in mini-companies impact young women and men with regard to the perceived desirability and perceived feasibility of self-employment. The Company Programme (CP) is the largest mini-company scheme in European secondary school. Design/methodology/approach: The data derived…

26 CFR 1.381(c)(22)-1 - Successor life insurance company.

Science.gov (United States)

2010-04-01

... take into account as income its remaining policyholders surplus account to the extent the fair market.... If the transferor is an old target within the meaning of § 1.338(h)(10)-1(d)(2), any transfer by the...: Example 1. P buys the stock of insurance company target, T, from S for $16, and P and S make a section 338...

26 CFR 1.804-4 - Investment yield of a life insurance company.

Science.gov (United States)

2010-04-01

... threat or imminence thereof) of property used in the trade or business (as so defined). (iii) Any item..., depreciation, depletion, and trade or business (other than an insurance business) expenses. However, such... refers to mortgages, and other similar liens, on real property which are held by the company as security...

Employer-provided health insurance and the incidence of job lock: a literature review and empirical test.

Science.gov (United States)

Rashad, Inas; Sarpong, Eric

2008-12-01

The incidence of 'job lock' in the health insurance context has long been viewed as a potential problem with employer-provided health insurance, a concept that was instrumental in the passage of the United States Consolidated Omnibus Budget Reconciliation Act of 1986, and later, the Health Insurance Portability and Accountability Act in 1996. Several recent developments in healthcare in the USA include declining healthcare coverage and a noticeable shift in the burden of medical care costs to employees. If these developments cause employees with employer-provided health insurance to feel locked into their jobs, optimal job matches in the labor force may not take place. A summary of the seminal papers in the current literature on the topic of job lock is given, followed by an empirical exercise using single individuals from the National Health Interview Survey (1997-2003) and the 1979 cohort of the National Longitudinal Survey of Youth (1989-2000). Econometric methods used include difference in differences, ordinary least squares and individual fixed effects models, in gauging the potential effect that employer-provided health insurance may have on job tenure and voluntary job departure. Our findings are consistent with recent assertions that there is some evidence of job lock. Individuals with employer-provided health insurance stay on the job 16% longer and are 60% less likely to voluntarily leave their jobs than those with insurance that is not provided by their employers. Productivity may not be optimal if incentives are altered owing to the existence of fringe benefits, such as health insurance. Further research in this area should determine whether legislation beyond the Consolidated Omnibus Budget Reconciliation Act and Health Insurance Portability and Accountability Act laws is needed.

Identifying and prioritizing the effect of marketing mix from the customer’s perspective (4C) on the competitiveness of insurance companies using DEMATEL technique: A case study of Tehran Insurance Companies

OpenAIRE

Elmira Manafzadeh; Ali Ramezani

2016-01-01

Competitiveness of an organization is debatable based on sources and market-based approach. In this study, the impact of customer-centric marketing mix on the competitiveness of the company was studied. All clients involved in insurance companies in Tehran were the statistical population of the study and a sample of 384 clients were selected. A questionnaire was used to collect the data. Relationships between elements of the marketing mix and competitiveness were studied using confirmatory fa...

Employer branding through social media platforms in financial consulting companies

OpenAIRE

O' Brien, Krista

2017-01-01

The purpose of this thesis is to analyse the use of social media and its effects on enhancing Employer Branding, as done by 5 case companies in the financial consulting industry. The five case companies have been chosen based on employee size and industry: J.P. Morgan, Deloitte, EY, KPMG, and PwC. Each case company has been matched with a focus country in Northern Europe to better understand the efforts put into local Employer Branding. The social media platforms used for data collection ...

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.

Private Healthcare Institutions and Insurance Companies: from Cooperators to Market Competitors

Directory of Open Access Journals (Sweden)

Željko Jović

2015-05-01

Full Text Available The provision of adequate healthcare nowadays has a global character, so the implementation of efficient andwell-formulated health reforms has become of serious importance. Among many contemporary trends in this area, there is a tendency of privatization of health care institutions and growth in private insurance premiums. This raises the necessity of developing a cooperation between private healthcare institutions and insurance companies in order to provide services of an improved quality. This paper emphasizes the extremes of their cooperation, moving from fully integrated systems towards competition over the market. The findings indicate that, due to the insufficient development of Serbian healthcare sector, their cooperation is so far not at a highlevel, which brings many issues into question and that should be legally better defined.

Employer-sponsored health insurance: down but not out.

Science.gov (United States)

Christanson, Jon B; Tu, Ha T; Samuel, Divya R

2011-10-01

Rising costs and the lingering fallout from the great recession are altering the calculus of employer approaches to offering health benefits, according to findings from the Center for Studying Health System Change's (HSC) 2010 site visits to 12 nationally representative metropolitan communities. Employers responded to the economic downturn by continuing to shift health care costs to employees, with the trend more pronounced in small, mid-sized and low-wage firms. At the same time, employers and health plans are dissatisfied and frustrated with their inability to influence medical cost trends by controlling utilization or negotiating more-favorable provider contracts. In an alternative attempt to control costs, employers increasingly are turning to wellness programs, although the payoff remains unclear. Employer uncertainty about how national reform will affect their health benefits programs suggests they are likely to continue their current course in the near term. Looking toward 2014 when many reform provisions take effect, employer responses likely will vary across communities, reflecting differences in state approaches to reform implementation, such as insurance exchange design, and local labor market conditions.

Officials Warn of a Crisis in Student Health Insurance as Medical Costs Soar and Companies Revise Policies.

Science.gov (United States)

Collison, Michele N-K

1989-01-01

As costs rise and companies discontinue coverage of college students under parents' policies, students are choosing to forego insurance rather than pay for it themselves, so suggest speakers at the American College Health Association's annual meeting. Colleges offering group-insurance policies to students are also having problems renewing them.…

ASSETS ADMITTED TO COVER GROSS TECHNICAL RESERVES CASE STUDY: INSURANCE – REINSURANCE COMPANY ASTRA SA

Directory of Open Access Journals (Sweden)

IRINELA – CONSTANTINA BADEA

2015-12-01

Full Text Available The aim of this paper is to analyze the asset structure and the coverage of gross technical reserves of the Insurance – Reinsurance Company Astra SA, for the period 2003 – 2014. Insurance companies are required to constitute technical reserves, in order to cope with the payment obligations to policyholders. These reserves may only be covered on account of certain assets, admitted by law. In Romania, Orders No. 8 and 9/2011, issued by the Insurance Supervisory Commission, contain Rules regarding the assets admitted to cover gross technical reserves, the dispersion of assets admitted to cover gross technical reserves and the liquidity coefficient. Order No. 9/2011, relating to general insurance, has been amended by Rule No. 22/2014. In this paper, we have analyzed the main elements of Astra’s assets, their share in total assets and we have calculated the coverage of gross technical reserves by total assets and liquid assets. In 2013 and 2014, the value of total assets was below the value of gross tehnical reserves, which demonstrated Astra’s financial instability, through negative capital and the inability to meet the obligations to policyholders. Failure to comply with the prudential indicators has been one of the main causes of Astra`s bankruptcy.

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 ...

78 FR 52780 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...

Science.gov (United States)

2013-08-26

...] National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers, Availability of FY... Assistance/Subsidy Arrangement (Arrangement), 85 (as of June 2013) private sector property insurers sell... Financial Assistance/ Subsidy Arrangement (Arrangement) to notify private insurance companies (Companies...

77 FR 36566 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...

Science.gov (United States)

2012-06-19

...] National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers, Availability of FY... Assistance/Subsidy Arrangement (Arrangement), 82 (as of April, 2012) private sector property insurers sell... Financial Assistance/ Subsidy Arrangement (Arrangement) to notify private insurance companies (Companies...

Prevalence of diabetes mellitus among insured of a health insurance company in Puerto Rico: 1997-1998.

Science.gov (United States)

Pérez-Perdomo, R; Pérez-Cardona, C; Rodríguez-Lugo, L

2001-06-01

The purpose of this study was to determine the prevalence of diabetes mellitus in persons covered by a health insurance company. The medical claims of persons insured with Triple S Health Insurance Co. of Puerto Rico, whose main diagnosis was diabetes (ICD9-250.0-9), were selected for analysis. Prevalence and medical utilization rates were estimated. General characteristics and services utilization were compared by age and sex using the chi-square distribution. Overall prevalence was 4.73%. Prevalence in the male population (5.07%) was higher than that of females (4.43%) in all age groups, but the difference was not statistically significant (p > 0.05). The proportion of diabetic cases was larger in the > 60 age group. 64% of the cases had 1 or more visits to a physician office, 2% were hospitalized, and almost 3% had emergency room visits. 29% of the cases had insulin prescriptions while 59% had oral prescriptions. The younger age group (diabetes in this group was lower than the prevalence reported in the Behavioral Risk Factor Surveillance System. This may be partially explained by the fact that the study group did not represent the composition of the Puerto Rican population. Prevalence studies using other groups will be helpful to determine the prevalence of diabetes in Puerto Rico.

The protection of financial services users: The case of insurance companies and investment funds

Directory of Open Access Journals (Sweden)

Njegomir Vladimir

2012-01-01

Full Text Available The users of financial services generally do not have the required expertise that they need to process the available financial information when they make financial and investment decisions, and as such they represent a sensitive category of financial market participants, which may intentionally or unintentionally be exposed to manipulation. If the beneficiaries do not have relevant and accurate information, the relationship between the provider and the service user is characterized with information asymmetry, and because of these reasons adequate regulatory instruments are necessary in order to protect the interests of financial services users. In the financial services sector, the development of a long-term successful relationship between providers and users of services should be based on mutual trust and users' feel that they have received a value for the price paid. The aim of the paper is to highlight the modern ways of improving the protection of the interests of consumers of financial services provided by insurance companies and investment funds. The paper analyses the reasons for protection of consumers of financial services, specifics of insurance as financial service, the importance of trust as a key factor for the attraction of service users and the basic principles of operation of investment funds in the developed and the domestic financial market are compared. The particular attention is given to insurance companies and investment funds in terms of regulatory and other mechanisms of governments that are related to the protection of insureds and investment funds investors.

Compliance Function in Banks, Investment and Insurance Companies after MiFID

OpenAIRE

Musile Tanzi, Paola; Gabbi, Giampaolo; Previati, Daniele; Schwizer, Paola

2010-01-01

The risk of compliance comes from the failure to comply with laws, regulations, rules, self-regulatory standards, and codes of conduct. This article focuses on the evolving scenario of the compliance function within banks, investment and insurance companies operating in Italy. We developed four areas of research questions: (i) Does the positioning of the compliance function in the organizational structure start “at the top”? (ii) Are roles attributed to the compliance ...

Individual’s Resistance Regarding BPM Initiative: Case Study of the Insurance Company

Directory of Open Access Journals (Sweden)

Pejić Bach Mirjana

2017-12-01

Full Text Available Though the individual’s resistance is very often considered a significant barrier to BPM success, the literature on that topic is quite scarce. With the aim to shed light on this topic, we have conducted research of a Croatian insurance company. We examined the impact of individual’s resistance regarding BPM initiative using the theory of reasoned action. Structural equation model was developed using the data collected by the survey among company employees. The results indicate that subjective norms are positively related to the individual’s resistance regarding BPM initiative, while positive initial belief regarding BPM initiative tends to decrease the probability of resistance to change.

26 CFR 1.804-3 - Gross investment income of a life insurance company.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Gross investment income of a life insurance company. 1.804-3 Section 1.804-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Investment Income § 1.804-3 Gross investment income of a life...

Premium copayments and the trade-off between wages and employer-provided health insurance.

Science.gov (United States)

Lubotsky, Darren; Olson, Craig A

2015-12-01

This paper estimates the trade-off between salary and health insurance costs using data on Illinois school teachers between 1991 and 2008 that allow us to address several common empirical challenges in this literature. Teachers paid about 17 percent of the cost of individual health insurance and about 46 percent of the cost of their family members' plans through premium contributions, but we find no evidence that teachers' salaries respond to changes in insurance costs. Consistent with a higher willingness to pay for insurance, we find that premium contributions are higher in districts that employ a higher-tenured workforce. We find no evidence that school districts respond to higher health insurance costs by reducing the number of teachers. Copyright © 2015 Elsevier B.V. All rights reserved.

Dental insurance! Are we ready?

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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.

MARKETING OF INSURANCE PRODUCTS BY THE NATIONAL INSURANCE COMPANY LIMITED, RAJAPALAYAM

OpenAIRE

Dr. H. Christy Cynthia; Dr. T. Jebasheela; V. Maheswari

2017-01-01

Insurance is a way of reducing uncertainty of occurrence of an event. Insurance is an investment. Its basic purpose is to derive plans to counteract the financial consequences of unfavorable events. Insurance is a social device for eliminating or reducing the cost to society to certain types of risks. Insurance is essentially a co-operative endeavor. It is the function of the insurance to protect the few against the heavy financial impact of anticipated misfortunes by spreading losses among m...

Insurance industry guide

International Nuclear Information System (INIS)

Anon.

1992-01-01

This is an insurance industry guide for the independent power industry. The directory includes the insurance company's name, address, telephone and FAX numbers and a description of the company's area of expertise, products and services, and limitations. The directory is international in scope. Some of the companies specialize in independent power projects

The Complexity of E-Insurance

Directory of Open Access Journals (Sweden)

Marius GAVRILETEA

2006-01-01

Full Text Available The importance and increasing role of Internet in nowadays business area are officially recognized. No matter the industry a company is operating in, the distribution channels include direct sales through Internet. Following this idea, also the insurance companies decided to sell their insurance policy online. In this paper we analyze the advantages of Internet for insurance companies, the threats and the actual situation for Romanian insurers

Modelling and evaluating customer loyalty using neural networks: Evidence from startup insurance companies

Directory of Open Access Journals (Sweden)

Azarnoush Ansari

2016-06-01

Full Text Available The purpose of this study is to investigate the customer–service provider relationship in the insurance industry using artificial neural networks and linear regression. Using a sample of 389 customers from 10 different startup insurance companies, it was found that artificial neural networks are an efficient way to evaluate the factors affecting customer loyalty. The results indicated that customer satisfaction and perceived value are significant predictors of customer loyalty. Additionally, it was found that trust, perceived quality, and empathy have a significant impact on both customer satisfaction and perceived value. The results also showed that customer commitment to service provider is positively associated with customer satisfaction and loyalty. After comparing the performance of linear regression models with artificial neural networks, it was found that the use of neural networks is a better approach for analyzing the customer loyalty, satisfaction, and perceived value. The use of new techniques such as artificial neural networks for analyzing the customer behavior can be particularly beneficial for startup companies who aspire to gain competitive advantage over their strong and well-established rivals.

Marriage, employment, and health insurance in adult survivors of childhood cancer.

Science.gov (United States)

Crom, Deborah B; Lensing, Shelly Y; Rai, Shesh N; Snider, Mark A; Cash, Darlene K; Hudson, Melissa M

2007-09-01

Adult survivors of childhood cancer are at risk for disease- and therapy-related morbidity, which can adversely impact marriage and employment status, the ability to obtain health insurance, and access to health care. Our aim was to identify factors associated with survivors' attainment of these outcomes. We surveyed 1,437 childhood cancer survivors who were >18 years old and >10 years past diagnosis. We compared our cohort's data to normative data in the Medical Expenditure Panel Survey and the U.S. Census Bureau's Current Population Surveys. Respondents were stratified by hematologic malignancies, central nervous system tumors, or other solid tumors and by whether they had received radiation therapy. Most respondents were survivors of hematologic malignancies (71%), white (91%), and working full-time (62%); 43% were married. Compared with age- and sex-adjusted national averages, only survivors of hematologic malignancies who received radiation were significantly less likely to be married (44 vs. 52%). Full-time employment among survivors was lower than national norms, except among survivors of hematologic malignancies who had not received radiation therapy. The rates of coverage of health insurance, especially public insurance, were higher in all diagnostic groups than in the general population. While difficulty obtaining health care was rarely reported, current unemployment and a lack of insurance were associated with difficulty in obtaining health care (P unmarried, unemployed, and uninsured experience difficulty accessing health care needed to address long-term health concerns.

17 CFR 270.12d2-1 - Definition of insurance company for purposes of sections 12(d)(2) and 12(g) of the Act.

Science.gov (United States)

2010-04-01

..., INVESTMENT COMPANY ACT OF 1940 § 270.12d2-1 Definition of insurance company for purposes of sections 12(d)(2... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Definition of insurance company for purposes of sections 12(d)(2) and 12(g) of the Act. 270.12d2-1 Section 270.12d2-1 Commodity...

Role of nuclear insurance in US

International Nuclear Information System (INIS)

Bardes, C.R.

2000-01-01

Private insurance companies developed means to provide first-tier nuclear coverage to operators of power plants and other nuclear facilities; US Government initially provided second tier. US insurance companies chose 'pooling' technique as means to provide large amounts of insurance capacity by spreading the risk over a number of insurance companies. Classic example of nuclear risk that presents low frequency, high severity loss potential. Insurers usually spread their risk over a large, fairly stable premium base, as with automobile insurance. The American Nuclear Insurers (ANI) and its roles are introduced in this article

77 FR 18883 - Surety Companies Acceptable on Federal Bonds-Termination and Merger; Pioneer General Insurance...

Science.gov (United States)

2012-03-28

.... Department of the Treasury, Financial Management Service, Financial Accounting and Services Division, Surety... Carrico, Director, Financial Accounting and Services Division, Financial Management Service. [FR Doc. 2012...--Termination and Merger; Pioneer General Insurance Company AGENCY: Financial Management Service, Fiscal Service...

与商保公司合作开展医疗管理的实践与思考%Practice and Thoughts on Cooperation with the Commercial Insurance Company in Health Care Management

Institute of Scientific and Technical Information of China (English)

左良斌

2014-01-01

孝感市医保经办机构在与商保公司开展“大病保险”经办合作中，让商保公司重点做好医疗监管和费用审核，加强了医保管理力量，发现了大量违规案件，为维护医保基金安全、提升基金使用效率发挥了积极作用。但也存在着双方配合的默契度不高、商保队伍不稳定等问题，亟待加强合同管理，改进商保的用人机制，加强培训，提升商保工作人员的业务沟通能力。%The Medical Insurance Bureau of Xiaogan City and the commercial insurance company has carried out cooperation in the management of “insurance for serious diseases. It is very important to make the commercial insurance company play main roles in completing medical supervision and cost audit. As the result, it has intensified the power of medical insurance management, and found a large number of violations. It has played a positive role in maintaining the security of the medical health care insurance fund and raising the fund utilization rate. However, there are still problems such as lack of tacit mutual understanding between the two sides and lack of instability of the personnel in commercial company. Therefore, it is urgent to improve personnel contract management, mechanism of employment, personnel training and personnel communication capability in commercial company.

75 FR 42766 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...

Science.gov (United States)

2010-07-22

...] National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers, Availability of... Financial Assistance/Subsidy Arrangement (Arrangement), (90 as of June 1, 2010) private sector property... Financial Assistance/ Subsidy Arrangement (Arrangement) to notify private insurance companies (Companies...

76 FR 45281 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...

Science.gov (United States)

2011-07-28

...] National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers, Availability of... Financial Assistance/Subsidy Arrangement (Arrangement), 87 (as of July 1, 2011) private sector property... Financial Assistance/ Subsidy Arrangement (Arrangement) to notify private insurance companies (Companies...

Impact of M&A on the Employment in Japanese Companies

OpenAIRE

Hiroyuki Taguchi; Taichi Yanagawa; Masashi Harita

2012-01-01

With utilizing Financial Statements Statistics of Corporation by Industry, we analyzed the impact of M&A on the employment in Japanese companies. In this study, the impact of M&A on the employment was extracted by developing panel data for fiscal year 1995 to 2008 targeting 9,880 sample companies including 3,697 cases of M&A to estimate a labor demand model. Major findings of the study are described below. First, dynamically positive effect was confirmed mainly in the manufacturing industry a...

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.

Defining the key-parameters of insurance product in Islamic insurance

Directory of Open Access Journals (Sweden)

Galim Zaribzyanovich Vakhitov

2015-06-01

Full Text Available Objective to define the range of actuarial calculations in Islamic insurance to study the main differences of the traditional and Islamic insurance to define what changes in calculations entail the above differences. Methods mathematical modeling probabilistic analysis of insurance risks adaptation of methods of actuarial mathematics to the principles of Islamic insurance. Results the mathematical form of the takafulfund models is presented the distribution is analyzed of a random variable of the resulting insurance fund or the insurance company balance in a particular fixed insurance portfolio. Scientific novelty calculation are presented of the optimal tariff rate in takaful. Islamic insurance is an innovative area of insurance industry. Actuarial calculations that meet the Sharia rules are still being developed. The authors set the new tasks of actuarial calculations including the specified changes in the calculation of the optimal tariff rate imposed by the Islamic insurance principles. Practical value the results obtained can be used in the actuarial calculations of the Islamic insurance companies. nbsp

Exploring health insurance services in Sudan from the perspectives of insurers.

Science.gov (United States)

Salim, Anas Mustafa Ahmed; Hamed, Fatima Hashim Mahmoud

2018-01-01

It has been 20 years since the introduction of health insurance in Sudan. This study was the first one that explored health insurance services in Sudan from the perspectives of the insurers. This was a qualitative, exploratory, interview study. The sampling frame was the list of Social Health Insurance and Private Health Insurance institutions in Sudan. Participants were selected from the four Social Health Insurance institutions and from five Private Health Insurance companies. The study was conducted in January and February 2017. In-depth individual interviews were conducted with a convenient sample of key executives from the different health insurers. Ideas and themes were identified and analysed using thematic analysis. The result showed that universal coverage was not achieved despite long time presence of Social Health Insurance and Private Health Insurance in Sudan. All participants described their services as comprehensive. All participants have good perception of the quality of the services they provide, although none of them investigated customer satisfaction. The main challenges facing Social Health Insurance are achieving universal coverage, ensuring sustainability and recruitment of the informal sector and self-employed population. Consumers' affordability of the premiums is the main obstacle for Private Health Insurance, while rising healthcare cost due to economic inflation is a challenge facing both Social Health Insurance and Private Health Insurance. In spite of the presence of Social Health Insurance and Private Health Insurance in Sudan, the country is still far from achieving universal coverage. Moreover, the sustainability of health insurance is questionable. The main reasons include low governmental financial resources and lack of affordability by beneficiaries especially for Private Health Insurance. This necessitates finding solutions to improve them or trying other types of health insurance. The quality of services provided by Social

78 FR 25909 - Minimum Value of Eligible Employer-Sponsored Plans and Other Rules Regarding the Health Insurance...

Science.gov (United States)

2013-05-03

... Minimum Value of Eligible Employer-Sponsored Plans and Other Rules Regarding the Health Insurance Premium.... SUMMARY: This document contains proposed regulations relating to the health insurance premium tax credit... who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the...

Value-oriented risk management of insurance companies

CERN Document Server

Kriele, Marcus

2014-01-01

Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value- Oriented Risk Management of Insurance Companies focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have...

HRD Practices and Talent Management in the Companies with the Employer Brand

Science.gov (United States)

Kucherov, Dmitry; Zavyalova, Elena

2012-01-01

Purpose: The employer brand could be a key factor of competitiveness for a company in a contemporary labour market. The purpose of this paper is to identify the features of human resource development (HRD) practices and talent management in companies with employer brand (CEBs). Design/methodology/approach: The authors examined three economic…

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.

Measurement Issues of Financial Placement and Technical Provisions of Czech Insurance Companies

OpenAIRE

Bokšová, Jiřina

2011-01-01

Measurement represents one of the most important methodological elements of accounting because it affects the overall informative ability of financial statements. The chosen method of valuation affects not only the amount of assets and liabilities, but the size of costs and revenues of the entity as well; therefore it has a major impact on profit and solvency of insurance companies. Each accounting regulation – whether at national or supranational level – includes relatively thorough provisio...

The Term Structure of Interest Rates and its Impact on the Liability Adequacy Test for Insurance Companies in Brazil

Directory of Open Access Journals (Sweden)

Antonio Aurelio Duarte

2015-08-01

Full Text Available The Brazilian regulation for applying the Liability Adequacy Test (LAT to technical provisions in insurance companies requires that the current estimate is discounted by a term structure of interest rates (hereafter TSIR. This article aims to analyze the LAT results, derived from the use of various models to build the TSIR: the cubic spline interpolation technique, Svensson's model (adopted by the regulator and Vasicek's model. In order to achieve the objective proposed, the exchange rates of BM&FBOVESPA trading days were used to model the ETTJ and, consequently, to discount the cash flow of the insurance company. The results indicate that: (i LAT is sensitive to the choice of the model used to build the TSIR; (ii this sensitivity increases with cash flow longevity; (iii the adoption of an ultimate forward rate (UFR for the Brazilian insurance market should be evaluated by the regulator, in order to stabilize the trajectory of the yield curve at longer maturities. The technical provision is among the main solvency items of insurance companies and the LAT result is a significant indicator of the quality of this provision, as this evaluates its sufficiency or insufficiency. Thus, this article bridges a gap in the Brazilian actuarial literature, introducing the main methodologies available for modeling the yield curve and a practical application to analyze the impact of its choice on LAT.

Jobs without benefits: the health insurance crisis faced by small businesses and their workers.

Science.gov (United States)

Robertson, Ruth; Stremikis, Kristof; Collins, Sara R; Doty, Michelle M; Davis, Karen

2012-11-01

The share of U.S. workers in small firms who were offered, eligible for, and covered by health insurance through their jobs has declined over the past decade. Less than half of workers in companies with fewer than 50 employees were both offered and eligible for health insurance through their jobs in 2010, down from 58 percent in 2003. In contrast, about 90 percent of workers in companies with 100 or more employees were offered and eligible for their employer's health plans in both 2003 and 2010. Workers in the smallest firms--and those with the lowest wages--continue to be less likely to get coverage from their employers and more likely to be uninsured than workers in larger firms or with higher wages. The Affordable Care Act includes new subsidies that will lower the cost of health insurance for small businesses and workers who must purchase coverage on their own.

[Participant structure and economic benefit of prevention bonus programmes in company health insurance funds].

Science.gov (United States)

Friedrichs, M; Friedel, H; Bödeker, W

2009-10-01

This study investigates differences in sex, age, and educational level between participants and non-participants of prevention bonus programmes. The differences in the utilisation of drugs, hospital care, and sickness absence before the start of the programmes between these groups are also shown. Finally the economic benefit of the health insurance funds attributed to these programmes is estimated. Data from some 5.2 million insured subjects of 74 company health insurance funds in Germany were linked to information on enrollment into a prevention bonus programme anonymously. In a descriptive analysis the differences in the sociodemographic patterns between both groups are shown as well as the differences in costs to the health insurances in the three sectors mentioned above. The benefit to the health insurance funds is estimated by means of an analysis of covariance. Prevention bonus programmes yields an annual benefit of at least 129 euro per participant. Men aged 40 and older and women aged 30 and older are more likely to opt into such a programme. The same is true for persons with a higher educational level. There are only few differences in health-care utilisation between the participants and non-participants of the programmes before enrollment. Only 1.4% of all insured persons participated in the programmes. There is at least a short-term gain to both involved parties: the insured and the health insurance funds. The programmes are not dominated by deadweight effects. Long-term effects and effectiveness of prevention bonus programmes still have to be investigated. Copyright Georg Thieme Verlag KG Stuttgart . New York.

The Moderating Effects of Ethnicity and Employment Type on Insurance Coverage: Four Asian Subgroups in California.

Science.gov (United States)

Nguyen, Duy; Choi, Sunha; Park, So Young

2015-10-01

Despite nearly universal insurance coverage for older Americans over the age of 65, the preretirement age cohort is susceptible to gaps in coverage. Related to the Patient Protection and Affordable Care Act (ACA), this study investigated heterogeneity in insurance status for preretirement Asian immigrants by examining the interacting effects of Asian ethnicity and employment type, which is a major factor that determines an individual's insurance status in the U.S. Data from the 2009 California Health Interview Survey, which included 1,024 Asians between the ages of 50 and 64, were analyzed. Our findings indicate significant moderating effects of employment type and Asian ethnicity. However, regardless of employment type, Koreans had the highest rate of being uninsured. To effectively reach the ACA's goal of reducing the number of uninsured individuals, targeted interventions specific to Asian subgroups are essential. © The Author(s) 2013.

FINANCIAL STABILITY OF INSURANCE AND ITS SOURCES OF SUPPORT

Directory of Open Access Journals (Sweden)

R. Pikus

2016-03-01

Full Text Available The article describes theoretical aspects of determination of financial stability of insurance companies of Ukraine. It was found the main factors that influence the financial stability of insurance companies. Influencing factors are classified into internal and external and the effects of these factors on insurers' activities are presented. The main criteria of financial stability of insurance companies were deeply analysed and the most significant were chosen: sufficient amount of equity capital, the optimal tariff policy, balanced insurance portfolio, secure and effective reinsurance program, sufficient amount of insurance reserves for future payments, optimal investment management of insurance reserves and high solvency of an insurance company. Basic directions of provision and maintenance of financial stability of insurance companies in post-crisis period were presented. The main problems of provision and maintenance of financial stability of insurance companies were outlined and recommendations for its strengthening were provided.

CURRENT CHANGES ON INSURANCE MARKET

Directory of Open Access Journals (Sweden)

Madalina Giorgiana MANGRA

2016-12-01

Full Text Available The offer of insurance products is about the requirements and needs of the consumer who must always have information regarding: the type of insurance risk covered and the excluded risks, the sum insured, the payment of premiums and their duration. The accurate information of customer requires, from the commencement of contract and throughout its duration, that he or she is aware of the obligations throughout the contractual period. Most of the Romanians are turning their attention to one of the insurance companies found in the top 10 in 2016, supervised by F.S.A. (Financial Supervision Authority, preferring to have a policy of mandatory household and goods insurance, auto liability or life insurance, but are also interested in travel health insurance when going abroad, private health insurance or private pension insurance. Romanians' reluctance regarding the conclusion of an insurance comes from their distrust in insurance companies (see the situations of companies like Astra Insurance, Carpatica Insurance etc., their personal financial situation and the fear that they will not receive protection if the risk is covered but the insured sum is insufficient

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

Progressive or regressive? A second look at the tax exemption for employer-sponsored health insurance premiums.

Science.gov (United States)

Schoen, Cathy; Stremikis, Kristof; Collins, Sara; Davis, Karen

2009-05-01

The major argument for capping the exemption of health insurance benefits from income tax is that doing so will generate significant revenue that can be used to finance an expansion of health coverage. This analysis finds that given the state of insurance markets and current variations in premiums, limiting the current exemption could adversely affect individuals who are already at high risk of losing their health coverage. Evidence suggests that capping the exemption for employment-based health insurance could disproportionately affect workers in small firms, older workers, and wage-earners in industries with high expected claims costs. To avoid putting many families at increased health and financial risk, and to avoid undermining employer-sponsored group coverage, any consideration of a cap would have to be combined with coverage for all, changes in insurance market rules, and shared responsibility for financing.

The Case for Employing the Mobile Assault Company Concept Through the Spectrum of Warfare

National Research Council Canada - National Science Library

Sokol, Blair J

2008-01-01

The Mobile Assault Company (MAC) concept--the technique of employing the Marine Infantry Battalion's Weapons Company as a fourth maneuver element--is currently being employed successfully during counterinsurgency and Stability...

Communications Centre Model in Insurance Business

Directory of Open Access Journals (Sweden)

Danijel Bara

2013-07-01

Full Text Available The aim of this paper is to define a communications centre model in an insurance company that essentially has two objectives. The first objective is focused on providing quality support with the sales process thereby creating a strategic advantage over the competition while the second objective is focused on improving the link between internal organizational units whose behaviour can often render decision-making at all levels difficult. The function of sales is fundamental for an insurance company. Whether an insurance company will fulfil its basic function, which is transfer of risk from the insured party to the insurer who agrees tonreimburse incidental damages to the damaged party and distribute them among all members of the risk group on the principles of reciprocity and solidarity, depends on successful sales and billing (Andrijašević & Petranović, 1999. For an insurance company to operate successfully in a demanding market, it is necessary to meet the needs of potential clients who then must be at the centre of all the activities of the insurer. A satisfied policy holder, who is respected by the insurer as a partner, is a guarantee that the sales of insurance services will be successful and that the insured party will come back to the same insurance company. In the era of globalization and all-pervading new technologies and modes of communication, policy holders need to be able to communicate with insurance company employees. Quality communication is a good foundation for a sales conversation. A fast flow of all types of information within an organisation using a single communication module makes decision-making at all levels quicker and easier.

THE IMPACT OF COOPERATION BETWEEN INSURERS AND BANKS ON THE DEVELOPMENT OF THE INSURANCE SYSTEM

OpenAIRE

Nataliya Prikazyuk; Ganna Oliynik

2017-01-01

The article highlights how the cooperation of insurance companies and banks affects the insurance system. Defined the concept of bancassurance, provided a brief description of the main bancassurance models in the context of their impact on the insurance system. Defined the main benefits and risks that accompany cooperation of insurance companies and banks within different models of association. It is noted that despite the generally accepted benefits of cooperation between insurers and banks,...

Sustainable employability for older workers: an explorative survey of belgian companies.

Science.gov (United States)

Verbrugghe, Mathieu; Kuipers, Yoline; Vriesacker, Bart; Peeters, Ilse; Mortelmans, Katrien

2016-01-01

The European Agency for Safety and Health at Work (EU-OSHA) is developing an online e-guide, which will provide tips and practical information for each EU country (in their national language(s)) on ageing and occupational health and safety. The e-guide will be launched in 2016 as part of the EU-OSHA campaign on Healthy Workplaces for all ages. The e-guide will present evidence, tools and practical examples of how companies can take action and effectively promote sustainable employability. As part of the development of the e-guide, a cross-sectional study was conducted to survey Belgian employers in April 2015 to determine their specific needs concerning older workers' occupational health and safety issues. Researchers from Milieu Ltd. (Brussels, Belgium), the consultancy company coordinating the e-guide project, and Mensura Occupational Health Services (Brussels, Belgium) developed a 13-item questionnaire. The survey addressed the needs and importance given to sustainable employability of older workers in Belgian companies and evaluated corporate knowledge regarding relevant national policies. The questionnaire was distributed electronically to the management of 22,084 private-sector companies affiliated with Mensura. Ten percent (n = 2133) of recipients opened the e-mail, and 37 % (n = 790) of these completed the questionnaire. In 89 % of the responding companies, sustainable employability of workers aged ≥55 years plays an important role; 70 % have no active sustainable employability policy/initiative; 18 % experience difficulties promoting sustainable employability; and 86 % indicate no need for support to promote sustainable employability. Respondents noted the following health complaints among workers aged ≥55 years: work-related health problems (31 %), stress (26 %), work agreements/type of work (17 %), work/life balance (15 %), and career development and/or training (9 %). Topics concerning health and well-being of workers aged ≥55�

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.

THE ROLE OF REINSURANCE IN INSURANCE

Directory of Open Access Journals (Sweden)

VĂDUVA MARIA

2018-02-01

Full Text Available Insurance companies carry out risk spreading through the co-insurance and reinsurance mechanism, consisting of the participation of more companies in the provision of high-value assets. Reinsurance is a form of insurance whereby an insurance organization can transfer to another reinsurer, partly or fully, its payment obligations arising from the insurance contracts that it has concluded. In the reinsurance ratios, the insurance companies appear in a double position - giving other insurance companies some of the risks assumed under direct insurance, being reinsured, but receiving different risks to reinsurance, acquiring the quality of reinsurers. Reinsurance intends to satisfy some multiple needs of the direct insurer and can provide means to counteract the risks associated with the fluctuations in compensation costs, the reinsurer will contribute to the payment of compensations on behalf of the reinsurer. Life insurance has characteristics that influence reinsurance: the average life of the insurance, the insurance is concluded for a fixed amount insured, the capital accumulation. In life reinsurance, almost all reinsurance arrangements are proportional agreements, and the largest share have the "surplus" agreements. Reinsurance plays an important role because it fulfills the following functions: it confers capacity, creates stability, helps to consolidate financial strength. The adjustment of the client portfolio in terms of the changes of reinsurance agreement, required by the reinsurer, can only be done by concluding the insurance contracts. In life insurance, reinsurance contracts contain provisions that meet the need of the insurer to have long-term protection.

Nonlife Insurance Pricing:

Science.gov (United States)

Darooneh, Amir H.

We consider the insurance company as a physical system which is immersed in its environment (the financial market). The insurer company interacts with the market by exchanging the money through the payments for loss claims and receiving the premium. Here, in the equilibrium state, we obtain the premium by using the canonical ensemble theory, and compare it with the Esscher principle, the well-known formula in actuary for premium calculation. We simulate the case of car insurance for quantitative comparison.

Sales Force Turnover: An Exploratory Study of the Indian Insurance Sector = Prihodek od prodaje: raziskovalna študija o indijskem zavarovalniškem sektorju

Directory of Open Access Journals (Sweden)

Suman Pathak

2010-03-01

Full Text Available The insurance sector in India is rising rapidly to bring in growthand employment opportunities. Insurance companies are basicallyhuman intensive, and human resources act as an undoubteddifferentiator. Quality manpower and its retention would act as alitmus test. Turnover of sales force has been high because of lowentry and exit barriers. The paper addresses issues of recruitment,retention and turnover of sales force in insurance companies.An attempt is made to integrate them to Maslow’s NeedHierarchy. A survey was conducted among 350 employees whoworked in or had left insurance companies to analyze factors thatinfluenced their decisions and job satisfaction. The data were treatedwith factor analysis. Factors such as Safety & Security, Social &Esteem and Personal Work Style emerged as the influencers tojoin insurance companies. Primary Needs and Social & Self EsteemNeeds were the factors associated with job satisfaction; Stress,Career Advancement and Work Environment emerged as factorsfor leaving the companies.

17 CFR 256.924 - Property insurance.

Science.gov (United States)

2010-04-01

... insurance premiums to protect the service company against losses and damages to owned or leased property... covered, and the applicable premiums. Any dividends distributed by mutual insurance companies shall be credited to the accounts to which the insurance premiums were charged. ...

You can't buy insurance when the house is on fire. Community rating kills health insurance.

Science.gov (United States)

Hartnedy, J A

1994-05-15

Why does health insurance cost so much? According to the vice president at the insurance company that pioneered high-deductible health insurance to go with medical savings accounts, a big factor is that insurance companies are being asked to solve social problems. Mr Hartnedy offers a solution to America's healthcare-delivery plight that includes empowerment of individuals and preservation of choice.

Marketing of Insurance Products in Kenya

OpenAIRE

Adhiambo, Irene

2011-01-01

The purpose of the study is to find out and improve on strategy used in the Marketing of Insurance Products in Kenya; Case of African Merchants Assurance Company Ltd (AMACO). AMACO is one of the 44 insurance firms in Kenya. Among others it is a local incorporated company, which makes a difference in that it is not one of the leading insurance firms in Kenya, which is held by such firms as British-American insurance company. The methodology used is quantitative, qualitative methods, interview ...

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

THE IMPACT OF COOPERATION BETWEEN INSURERS AND BANKS ON THE DEVELOPMENT OF THE INSURANCE SYSTEM

Directory of Open Access Journals (Sweden)

Nataliya Prikazyuk

2017-11-01

Full Text Available The article highlights how the cooperation of insurance companies and banks affects the insurance system. Defined the concept of bancassurance, provided a brief description of the main bancassurance models in the context of their impact on the insurance system. Defined the main benefits and risks that accompany cooperation of insurance companies and banks within different models of association. It is noted that despite the generally accepted benefits of cooperation between insurers and banks, financial intermediaries’ unions often carry significant risks. Benefits from the cooperation of insurance companies and banks are disclosed with operational, marketing and financial aspects. The purpose of the article is to study the forms of cooperation between financial intermediaries and their impact on the insurance system. Methodology. The study is based on theoretical methods to study this problem. The theoretical and methodological basis of the study is works of scientists on the models of cooperation between insurers and banks. The dialectical method of cognition as well as such methods as logical generalization, structural and systematic analysis are used to study the methodological foundations of banks’ impact on the insurance companies and insurance system. Results. Banking activity has a significant impact on the insurance system. This impact is noticeable at the micro-level: insurers and banks can be clients of each other as well as they can sign cooperation agreements. A significant positive impact of the bancassurance on the activities of both financial institutions within the synergy that appears during their cooperation is highlighted in the article. Respectively, the insurance company and the bank are experiencing the benefits of cooperation along with savings on fixed, variable costs and obtaining additional profits; simplifying and optimization of the process of collecting and processing information; savings on advertising and

Impacts of Reinsurance Operations on Significant Items of the Financial Statements of Commercial Insurance Companies According to Czech Accounting Legislation and International Accounting Standards

OpenAIRE

Jana Gláserová; Eva Vávrová

2015-01-01

The principal aim of the paper is to determine the impact of reinsurance operations in commercial insurance companies, in accordance with the relevant accounting legislation, for certain significant items of the financial statements. In actual fact, the reinsurance operations affect the profit of a commercial insurance company, following the financial statements. The prerequisite for fulfilling the objective of the paper is to analyse the accounting legislation for reinsurance operations in c...

A structural econometric model of family valuation and choice of employer-sponsored health insurance in the United States.

Science.gov (United States)

Vanness, David J

2003-09-01

This paper estimates a fully structural unitary household model of employment and health insurance decisions for dual wage-earner families with children in the United States, using data from the 1987 National Medical Expenditure Survey. Families choose hours of work and the breakdown of compensation between cash wages and health insurance benefits for each wage earner in order to maximize expected utility under uncertain need for medical care. Heterogeneous demand for the employer-sponsored health insurance is thus generated directly from variations in health status and earning potential. The paper concludes by discussing the benefits of using structural models for simulating welfare effects of insurance reform relative to the costly assumptions that must be imposed for identification. Copyright 2003 John Wiley & Sons, Ltd.

Environmental pollution risk and insurance

OpenAIRE

Fragnelli, Vito; Marina, Maria Erminia

2002-01-01

We consider environmental risks that are evaluated too much heavy for a single insurance company, but they can be insured by n companies which a premium is assigned to.This is precisely the Italian scenario where a pool of companies co-insures these risks.Under a game theoretic approach we start by analyzing how they should split the risk and the premium in order to be better off. Under suitable hypotheses, there exists an optimal decomposition of the risk, that allow us to define a cooperati...

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

The Impact of Repealing the Exclusion for Employer-Sponsored Insurance

OpenAIRE

Gillette, Robert; Hunter, Gillian; Lurie, Ithai Z.; Siegel, Jonathan; Silverstein, Gerald

2010-01-01

The paper uses a new micro-simulation model to estimate the impact of repealing the employer-sponsored insurance (ESI) exclusion on ESI coverage given two alternative scenarios: a non-group market that is fully underwritten and a modified community-rated market where the low income population receives premium subsidies. When the alternative to ESI is the underwritten market, repeal of the exclusion reduces ESI coverage by 14 percent both overall and for those over 400 percent FPL. In contrast...

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

Analyzing the Influence of Ethical Sales Behavior on Customers Loyalty through Customer Satisfaction and Trust in Insurance Company

OpenAIRE

Razieh Pezhman; Mohammad Hossein Moshref Javadi; Arash Shahin

2013-01-01

The purpose of this study is to analysis of a model for investigation the influences of ethical sales behavior on customer loyalty in insurance industry with a case study in Parsian Insurance Company in Iran. The theoretical topics collected by means of library and Internet and the data was obtained from questionnaire. To analyze the data, the structural equation modeling embedded in the AMOS software was applied. The results of analyzing data reveal that the presented model is an appropriate...

Investment Strategy and Efficiency of Investment Activity of European Insurers

Directory of Open Access Journals (Sweden)

Zhabynets Olga Yo.

2014-02-01

Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.

[Comprehensive Care Centre and section 116b SGB V. Experiences from the point of view of the health insurance company].

Science.gov (United States)

Glaeske, G; Schramm, W; Herzig, D

2008-10-01

Through the GMG (modified law of health system) the section sign 116b "out-patients department" was newly introduced into the SGB V (5(th) social welfare legislation) in 2004. Thus, the health insurance companies had the possibility to come to an agreement with hospitals concerning rare illnesses such as haemophilia. On this basis a care agreement was agreed upon in 2005 between the University Hospital Eppendorf (Hamburg) and three big health insurance companies. The result leads to positive changes for all concerned: The patients were offered an optimal care through the link to the CCC and this with an adequate compensation for the coagulation section for out-patients. As the therapy programme became more clarified, the communication between the parties involved became more constructive. With the law to strengthen competition (WSG) for the insurance companies, a change of section sign 116b of the SGB V (5(th) social welfare legislation) came into force in 2007. Thus the legal basis for the a. m. agreement was withdrawn. It is now the task of the a. m. parties to find a way to secure the advantages obtained through this agreement, to the benefit of the patients, the coagulation sections for out-patients and the cost bearers.

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

Science.gov (United States)

2010-07-01

... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life... VETERANS, AND ARMED FORCES SERVICE MEDAL VETERANS Discrimination Prohibited § 60-300.25 Health insurance, life insurance and other benefit plans. (a) An insurer, hospital, or medical service company, health...

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

Science.gov (United States)

2010-07-01

... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life... SEPARATED VETERANS, AND OTHER PROTECTED VETERANS Discrimination Prohibited § 60-250.25 Health insurance, life insurance and other benefit plans. (a) An insurer, hospital, or medical service company, health...

Insurer views on reimbursement of preventive services in the dental setting: results from a qualitative study.

Science.gov (United States)

Feinstein-Winitzer, Rebecca T; Pollack, Harold A; Parish, Carrigan L; Pereyra, Margaret R; Abel, Stephen N; Metsch, Lisa R

2014-05-01

We explored insurers' perceptions regarding barriers to reimbursement for oral rapid HIV testing and other preventive screenings during dental care. We conducted semistructured interviews between April and October 2010 with a targeted sample of 13 dental insurance company executives and consultants, whose firms' cumulative market share exceeded 50% of US employer-based dental insurance markets. Participants represented viewpoints from a significant share of the dental insurance industry. Some preventive screenings, such as for oral cancer, received widespread insurer support and reimbursement. Others, such as population-based HIV screening, appeared to face many barriers to insurance reimbursement. The principal barriers were minimal employer demand, limited evidence of effectiveness and return on investment specific to dental settings, implementation and organizational constraints, lack of provider training, and perceived lack of patient acceptance. The dental setting is a promising venue for preventive screenings, and addressing barriers to insurance reimbursement for such services is a key challenge for public health policy.

The impact of the global financial crisis on the structure of investment portfolios of insurance companies

Directory of Open Access Journals (Sweden)

Kočović Jelena

2011-01-01

Full Text Available This article deals with the impact of the global financial crisis on the scale and structure of investment portfolios of insurance companies, with respect to their difference compared to other types of financial institution, which derives from the specific nature of insurance activities. The analysis includes insurance companies’ exhibited and expected patterns of behavior as investors in the period before, during, and after the crisis, considering both the markets of economically developed countries and the domestic financial market of Serbia. The direction of insurers’ investments in the post-crisis period should be very carefully examined in terms of their future implications for the insurance companies’ long-term financial health, and defined in a broader context of managing all risks to which they are exposed, taking into account the interdependence of these risks. Pertinent recommendations in this regard have arisen from research of relevant past experience and current trends, and also from an analysis and comparison of views on this subject presented by a number of authors.

Counseling as an Insured Benefit: Perspectives from the Insurance Industry

Science.gov (United States)

Fulton, Wallace C.

1974-01-01

Article discusses the feasibility of marriage counseling as an insurance benefit in the future. It is suggested that the physician be used as a marriage counselor in that insurance companies will pay for medical services. (EK)

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...

New Estimates of Offer and Take-Up of Employer-Sponsored Insurance.

Science.gov (United States)

Abramowitz, Joelle; O'Hara, Brett

2017-10-01

This analysis uses new questions in the Current Population Survey Annual Social and Economic Supplement to examine rates of offer and take-up of employer-sponsored health insurance over early 2014 and early 2015, as well as reasons reported for why individuals did not enroll. We find increases in offer and eligible rates of 0.5 and 0.9 percentage points, respectively, and a decrease in the take-up rate of 1.5 percentage points, while the coverage rate remained stable. We further find an increase in the proportion of workers covered by another plan and decreases in the proportions eligible for coverage but having a preexisting condition, employed as contract or temporary employees not allowed in the plan, and who have not yet worked for an employer long enough.

Impacts of the regulatory model for market risk capital: application in a special savings company, an insurance company, and a pension fund

Directory of Open Access Journals (Sweden)

Betty Lilian Chan

Full Text Available ABSTRACT In line with the regulation brought in by Solvency II, the Superintendence of Private Insurance (Susep introduced the market risk capital requirement at the end of 2015, with 50% of the minimum capital for this type of risk being required by December 31st 2016 and 100% the following year. This regulatory model consists of calculating parametric value at risk with a 99% confidence level and a three month time horizon, using the net exposure of expected cash flows from assets and liabilities and a covariance matrix updated with market data up to July 2014. One limitation of this regulatory approach is that the updating of the covariance matrix depends on prior approval by the National Council of Private Insurance, which can limit the frequency the covariance matrix is updated and the model’s adherence to the current market reality. As this matrix considers the period before the presidential election, the country’s loss of investment grade status, and the impeachment process, which all contributed to an increase in market volatility, this paper analyses the impacts of applying the regulatory model, considering the market volatility updated to December 31st 2015, for a special savings company (sociedade de capitalização, an insurance company, and an pension fund. Furthermore, the paper discusses the practical implications of the new market risk requirement for managing the investments of the entities supervised by Susep, listing the various assumptions that can be used in the regulated entities’ Asset and Liability Management decision models and possible trade-offs to be addressed in this process.

The Problem of Multiplicity of Insurance Contracts from the Fire to the Money of the Insured in the Jordanian Civil Law

Directory of Open Access Journals (Sweden)

Dr. Nabeel Farhan Al Shatanawi

2017-11-01

Full Text Available The insured, in some cases the conclusion of more than a decade of insurance against risk of fire to more than insurance companies, so as to increase the total amount of insurance cover for the value of the money of the insured, what is the extent of commitment by all insurance companies to pay compensation when the risk of fire? This study sheds light on the position of the Jordanian legislature to demonstrate the shortcomings and imperfections in the drawback of legislative texts the issue of multiple insurance contracts from the fire, and realized the need to restore the Jordanian legislature consideration of this legislative regulation in terms of the need to distinguish between the insurer and the good faith and bad faith in the case of multiple insurance contracts and their impact on the right to obtain compensation when the danger, and the provisions of the commitment of the insured to notify the insurance company in multiple insurance contracts.

China's Insurance Regulatory Reform, Corporate Governance Behavior and Insurers' Governance Effectiveness.

Science.gov (United States)

Li, Huicong; Zhang, Hongliang; Tsai, Sang-Bing; Qiu, Aichao

2017-10-17

External regulation is an important mechanism to improve corporate behavior in emerging markets. China's insurance governance regulation, which began to supervise and guide insurance corporate governance behavior in 2006, has experienced a complex process of reform. This study tested our hypotheses with a sample of 85 firms during 2010-2011, which was obtained by providing a questionnaire to all of China's shareholding insurance companies. The empirical study results generally show that China's insurance governance effectiveness has significantly improved through strict regulation. Insurance corporate governance can improve business acumen and risk-control ability, but no significant evidence was found to prove its influence on profitability, as a result of focusing less attention on governance than on management. State ownership is associated with higher corporate governance effectiveness than non-state ownership. Listed companies tend to outperform non-listed firms, and life insurance corporate governance is more effective than that of property insurers. This study not only contributes to the comprehensive understanding of corporate governance effectiveness but also to the literature by highlighting the effect of corporate governance regulation in China's insurance industry and other emerging economies of the financial sector.

Disability Insurance and Health Insurance Reform: Evidence from Massachusetts

OpenAIRE

Nicole Maestas; Kathleen J. Mullen; Alexander Strand

2014-01-01

As health insurance becomes available outside of the employment relationship as a result of the Affordable Care Act (ACA), the cost of applying for Social Security Disability Insurance (SSDI)–potentially going without health insurance coverage during a waiting period totaling 29 months from disability onset–will decline for many people with employer-sponsored health insurance. At the same time, the value of SSDI and Supplemental Security Income (SSI) participation will decline for individuals...

44 CFR 62.23 - WYO Companies authorized.

Science.gov (United States)

2010-10-01

... individual private sector property insurance companies or other insurers, such as public entity risk sharing... ensure that the financial data reported to us accurately represents the flood insurance activities of the... (commonly known as “yellow book” requirements). The Company must file with us (the Federal Insurance...

76 FR 41138 - Insurer Reporting Requirements; List of Insurers Required To File Reports

Science.gov (United States)

2011-07-13

... passenger motor vehicle insurers that are required to file reports on their motor vehicle theft loss... information about thefts and recoveries of motor vehicles, the rating rules used by the insurer to establish... companies with a fleet of 20 or more vehicles not covered by theft insurance policies issued by insurers of...

46 CFR 308.403 - Insured amounts.

Science.gov (United States)

2010-10-01

... total amount of war risk insurance obtainable from companies authorized to do an insurance business in a... MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS WAR RISK INSURANCE War Risk Builder's Risk Insurance § 308.403 Insured amounts. (a) Prelaunching period. The amount insured during...

75 FR 52981 - Bluescope Buildings North America, Including Workers Whose Unemployment Insurance (UI) Wages Are...

Science.gov (United States)

2010-08-30

... DEPARTMENT OF LABOR Employment and Training Administration [TA-W-73,758] Bluescope Buildings North America, Including Workers Whose Unemployment Insurance (UI) Wages Are Reported Through Butler Manufacturing Company, Laurinburg, NC; Amended Certification Regarding Eligibility To Apply for Worker...

How do health insurer market concentration and bargaining power with hospitals affect health insurance premiums?

Science.gov (United States)

Trish, Erin E; Herring, Bradley J

2015-07-01

The US health insurance industry is highly concentrated, and health insurance premiums are high and rising rapidly. Policymakers have focused on the possible link between the two, leading to ACA provisions to increase insurer competition. However, while market power may enable insurers to include higher profit margins in their premiums, it may also result in stronger bargaining leverage with hospitals to negotiate lower payment rates to partially offset these higher premiums. We empirically examine the relationship between employer-sponsored fully-insured health insurance premiums and the level of concentration in local insurer and hospital markets using the nationally-representative 2006-2011 KFF/HRET Employer Health Benefits Survey. We exploit a unique feature of employer-sponsored insurance, in which self-insured employers purchase only administrative services from managed care organizations, to disentangle these different effects on insurer concentration by constructing one concentration measure representing fully-insured plans' transactions with employers and the other concentration measure representing insurers' bargaining with hospitals. As expected, we find that premiums are indeed higher for plans sold in markets with higher levels of concentration relevant to insurer transactions with employers, lower for plans in markets with higher levels of insurer concentration relevant to insurer bargaining with hospitals, and higher for plans in markets with higher levels of hospital market concentration. Copyright © 2015 Elsevier B.V. All rights reserved.

SIMULATION OF THE INSURANCE COMPANY’S MARKETING STRATEGY

Directory of Open Access Journals (Sweden)

О. Klepikova

2013-05-01

Full Text Available The article is devoted the development of marketing strategy of the insurance company with using of mathematical modeling of structures. The algorithm was developed for calculating the coefficient of “probability of insurance policy acquisition” which accumulates the influence of factors related to the feature of providing insurance services and financial activities of the insurance company.

Farmers Insures Success

Science.gov (United States)

Freifeld, Lorri

2012-01-01

Farmers Insurance claims the No. 2 spot on the Training Top 125 with a forward-thinking training strategy linked to its primary mission: FarmersFuture 2020. It's not surprising an insurance company would have an insurance policy for the future. But Farmers takes that strategy one step further, setting its sights on 2020 with a far-reaching plan to…

Employment of personnel of a security service company does not require the consent of the works council

International Nuclear Information System (INIS)

Anon.

1992-01-01

If a company or institution hires personnel of a security service company to protect its premises, this kind of employment does not mean the company carries on temporary employment business. Within the purview of section 99, sub-section 1 of the BetrVG (Works Constitution Act), the security service personnel is not 'employed' in the proper sense even if the security tasks fulfilled by them are done at other times by regular employees of the company or institution. The court decision also decided that the Works Council need not give consent to employment of foreign security personnel. Federal Labour Court, decision dated May 5, 1992 - 1 ABR 78/91. (orig./HP) [de

Mārketinga komunikācija BTA Insurance Company SE.

OpenAIRE

Oksaniča, Ilona

2013-01-01

Maģistra darba tēma ir „Mārketinga komunikācija BTA Insurance Company SE. Apdrošināšanas nozarē pastāv liela konkurence, kas nozīmē, ka uzņēmumiem ir jāizstrādā laba mārketinga komunikācija, lai jau esošie un potenciālie klienti izvēlētos noteiktu apdrošināšanas uzņēmumu. Pēc nesenās finanšu krīzes visi uzņēmumi piesardzīgi izturas pret visām darbībām ar finansēm, līdz ar to uzņēmumam ir jāizvērtē sava īstenotā mārketinga komunikācija, lai saprastu, kuras ir veiksmīgas un kuras nav tik veik...

State Mandated Benefits and Employer Provided Health Insurance

OpenAIRE

Jonathan Gruber

1992-01-01

One popular explanation for this low rate of employee coverage is the presence of numerous state regulations which mandate that group health insurance plans must include certain benefits. By raising the minimum costs of providing any health insurance coverage, these mandated benefits make it impossible for firms which would have desired to offer minimal health insurance at a low cost to do so. I use data on insurance coverage among employees in small firms to investigate whether this problem ...

A Logistic Regression Based Auto Insurance Rate-Making Model Designed for the Insurance Rate Reform

Directory of Open Access Journals (Sweden)

Zhengmin Duan

2018-02-01

Full Text Available Using a generalized linear model to determine the claim frequency of auto insurance is a key ingredient in non-life insurance research. Among auto insurance rate-making models, there are very few considering auto types. Therefore, in this paper we are proposing a model that takes auto types into account by making an innovative use of the auto burden index. Based on this model and data from a Chinese insurance company, we built a clustering model that classifies auto insurance rates into three risk levels. The claim frequency and the claim costs are fitted to select a better loss distribution. Then the Logistic Regression model is employed to fit the claim frequency, with the auto burden index considered. Three key findings can be concluded from our study. First, more than 80% of the autos with an auto burden index of 20 or higher belong to the highest risk level. Secondly, the claim frequency is better fitted using the Poisson distribution, however the claim cost is better fitted using the Gamma distribution. Lastly, based on the AIC criterion, the claim frequency is more adequately represented by models that consider the auto burden index than those do not. It is believed that insurance policy recommendations that are based on Generalized linear models (GLM can benefit from our findings.

Competition between health maintenance organizations and nonintegrated health insurance companies in health insurance markets.

Science.gov (United States)

Baranes, Edmond; Bardey, David

2015-12-01

This article examines a model of competition between two types of health insurer: Health Maintenance Organizations (HMOs) and nonintegrated insurers. HMOs vertically integrate health care providers and pay them at a competitive price, while nonintegrated health insurers work as indemnity plans and pay the health care providers freely chosen by policyholders at a wholesale price. Such difference is referred to as an input price effect which, at first glance, favors HMOs. Moreover, we assume that policyholders place a positive value on the provider diversity supplied by their health insurance plan and that this value increases with the probability of disease. Due to the restricted choice of health care providers in HMOs a risk segmentation occurs: policyholders who choose nonintegrated health insurers are characterized by higher risk, which also tends to favor HMOs. Our equilibrium analysis reveals that the equilibrium allocation only depends on the number of HMOs in the case of exclusivity contracts between HMOs and providers. Surprisingly, our model shows that the interplay between risk segmentation and input price effects may generate ambiguous results. More precisely, we reveal that vertical integration in health insurance markets may decrease health insurers' premiums.

18 CFR 367.9240 - Account 924, Property insurance.

Science.gov (United States)

2010-04-01

...) Recoveries from insurance companies or others for property damages must be credited to the account charged.... Any dividends distributed by mutual insurance companies must be credited to the accounts to which the insurance premiums were charged. The following items must be included in this account: (1) Premiums payable...

Green commercial building insurance in Malaysia

Science.gov (United States)

Yang, Yu Xin Ou; Chew, Boon Cheong; Loo, Heoy Shin; Tan, Lay Hong

2017-03-01

Green building construction is growing tremendously globally even in Malaysia. Currently, there are approximate 636 buildings have registered and to be certified with Green Building Index. Among these buildings, 45 buildings have already fulfilled the requirements and fully certified. The other buildings still under provisional certification stage. Malaysia had adopted Green Building Index in 2009 to support a move to promote green building concept. Malaysia starts to move towards green building because Malaysian construction and building industry realizes that both energy consumed and waste produced are reduced without irreversible impacts to ecosystems. Consequently, insurance companies such as Fireman's Fund from America has started the green building insurance policies for their green building in the year of 2006, while Malaysia still remain the coverage for green buildings using conventional property insurance. There are lacks of efforts to be seen from insurance companies to propose green building insurance for these green buildings. There are a few factors which can take into consideration for insurance companies to start the very first green building insurance in Malaysia. Although there are challenges, some efficient strategies have been identified to overcome the problems. The methods used in this research topic is qualitative research. The results obtained shows that green commercial building insurance has a huge business opportunity in Malaysia because the number of green commercial buildings are increasing tremendously in Malaysia. It is a favor to implement green building insurance in Malaysia. Furthermore, insurance companies can consider to add in extra coverage in standard building policy to provide extra protection for non-certified green buildings which have the intention to rebuilt in green when damage happens. Generally, it is very important to introduce green commercial buildings insurance into Malaysia so that all of the green commercial

The Impact of Corporate Governance on the Efficiency Performance of the Thai Non-Life Insurance Industry

OpenAIRE

Wen-Yen Hsu; Pongpitch Petchsakulwong

2010-01-01

This paper examines the relation between corporate governance and efficiency performance of public non-life insurance companies in Thailand over the period 2000–2007. Data envelopment analysis is used to compute an insurer's efficiency performance including technical, allocative, cost, and revenue efficiency. We then employ truncated bootstrapped regression to test the relation between efficiency performance and corporate governance. The results show that the characteristics of corporate gove...

A Transaction Cost Analysis of Dutch Hospital Care Contracting between hospitals and health insurance companies in a deregulated environment

NARCIS (Netherlands)

C.A. Brandenburg (Claudia)

2008-01-01

textabstractThe Dutch government has started a process of reformation in the Dutch healthcare. The goal of this reformation is cost efficient healthcare in the Netherlands. Hospitals and health insurance companies in the Netherlands experience changes in regulations and funding. They are expected

Behavioral economics holds potential to deliver better results for patients, insurers, and employers.

Science.gov (United States)

Loewenstein, George; Asch, David A; Volpp, Kevin G

2013-07-01

Many programs being implemented by US employers, insurers, and health care providers use incentives to encourage patients to take better care of themselves. We critically review a range of these efforts and show that many programs, although well-meaning, are unlikely to have much impact because they require information, expertise, and self-control that few patients possess. As a result, benefits are likely to accrue disproportionately to patients who already are taking adequate care of their health. We show how these programs could be made more effective through the use of insights from behavioral economics. For example, incentive programs that offer patients small and frequent payments for behavior that would benefit the patients, such as medication adherence, can be more effective than programs with incentives that are far less visible because they are folded into a paycheck or used to reduce a monthly premium. Deploying more-nuanced insights from behavioral economics can lead to policies with the potential to increase patient engagement and deliver dividends for patients and favorable cost-effectiveness ratios for insurers, employers, and other relevant commercial entities.

48 CFR 28.308 - Self-insurance.

Science.gov (United States)

2010-10-01

... REQUIREMENTS BONDS AND INSURANCE Insurance 28.308 Self-insurance. (a) When it is anticipated that 50 percent or... risks, limits of coverage, assignments of safety and loss control, and legal service responsibilities... projected average loss; and (10) A disclosure of all captive insurance company and re-insurance agreements...

Nuclear insurance

International Nuclear Information System (INIS)

Anon.

1992-01-01

The yearbook contains among others the figures of the nuclear insurance line. According to these these the DKVG (German nuclear power plant insurance association) has 102 member insurance companies all registered in the Federal Republic of Germany. By using reinsurance capacities of the other pools at present property insurance amounts to 1.5 billion DM and liability insurance to 200 million DM. In 1991 the damage charges on account of DKV amounted to 3.1 (1990 : 4.3) million DM. From these 0.6 million DM are apportioned to payments and 2.5 million DM to reserves. One large damage would cost a maximum gross sum of 2.2 billion DM property and liability insurance; on account of DKVG 750 million DM. (orig./HSCH) [de

ENDOWMENT LIFE INSURANCE

Directory of Open Access Journals (Sweden)

Zeljko Sain

2013-06-01

Full Text Available The aim of the paper that treats the actuarial model of insurance in case of survival or early death is to show the actuarial methods and methodology for creating a model and an appropriate number of sub-models of the most popular form of life insurance in the world. The paper applies the scientific methodology of the deductive character based on scientific, theoretical knowledge and practical realities. Following the basic theoretical model’s determinants, which are at the beginning of the paper, the basic difference between models further in this paper was carried out according to the character of the premium to be paid. Finally, the financial repercussions of some models are presented at examples in insurance companies. The result of this paper is to show the spectrum of possible forms of capital endowment insurance which can be, without major problems, depending on the financial policy of the company, applied in actual practice. The conclusion of this paper shows the theoretical and the practical reality of this model, life insurance, and its quantitative and qualitative guidelines.

75 FR 54041 - Insurer Reporting Requirements; List of Insurers Required To File Reports

Science.gov (United States)

2010-09-03

.... Each insurer's report includes information about thefts and recoveries of motor vehicles, the rating... state and; (3) Rental and leasing companies with a fleet of 20 or more vehicles not covered by theft...) used for rental or lease whose vehicles are not covered by theft insurance policies issued by insurers...

46 CFR 308.8 - War risk insurance underwriting agency agreement.

Science.gov (United States)

2010-10-01

... companies or groups of domestic insurance companies authorized to do a marine insurance business in any States of the United States, appointing such companies or groups of companies as Underwriting Agents to... performance, indemnification effective date, amendment and termination, and nondiscrimination. ...

Financial and operational ratios for bond-insured hospitals.

Science.gov (United States)

McCue, Michael J; McCluer, R Forrest

2008-01-01

Few, if any, researchers have analyzed the performance indicators of companies that offer bond insurance to hospitals and healthcare systems. The authors of this study analyzed the key financial and operational indicators of independent hospitals and hospitals within large multihospital systems that are insured by the 5 major bond insurance companies. The authors examined 87 insured bond issues; the results of this study show that some insurers cover healthcare facilities that have strong operational traits and others focus on financial factors.

Employment of security personnel of a security service company does not need approval by the works council

International Nuclear Information System (INIS)

Anon.

1990-01-01

If a company or institution hires personnel of a security service company to protect its premises, this kind of employment does not mean the company carries on temporary employment business. Within the purview of section 99, sub-secion 1 of the BetrVG (Works Constitution Act), the security service personnel is not 'employed' in the proper sense even if the security tasks fulfilled by them are done at other times by regular employees of the company or institution. The court decision also decided that the Works Council need not give consent to employment of foreign security personnel. The court decision was taken for settlement of court proceedings commenced by Institute of Plasma Physics in Garching. (Federal Labour Court, decision dated November 28, 1989 - 1 ABR 90/88). (orig./HP) [de

Small employer perspectives on the Affordable Care Act's premiums, SHOP exchanges, and self-insurance.

Science.gov (United States)

Gabel, Jon R; Whitmore, Heidi; Pickreign, Jeremy; Satorius, Jennifer L; Stromberg, Sam

2013-11-01

Beginning January 1, 2014, small businesses having no more than fifty full-time-equivalent workers will be able to obtain health insurance for their employees through Small Business Health Options Program (SHOP) exchanges in every state. Although the Affordable Care Act intended the exchanges to make the purchasing of insurance more attractive and affordable to small businesses, it is not yet known how they will respond to the exchanges. Based on a telephone survey of 604 randomly selected private firms having 3-50 employees, we found that both firms that offered health coverage and those that did not rated most features of SHOP exchanges highly but were also very price sensitive. More than 92 percent of nonoffering small firms said that if they were to offer coverage, it would be "very" or "somewhat" important to them that premium costs be less than they are today. Eighty percent of offering firms use brokers who commonly perform functions of benefit managers--functions that the SHOP exchanges may assume. Twenty-six percent of firms using brokers reported discussing self-insuring with their brokers. An increase in the number of self-insured small employers could pose a threat to SHOP exchanges and other small-group insurance reforms.

Health Insurance: Understanding Your Health Plan's Rules

Science.gov (United States)

... to know what your insurance company is paying…Health Insurance: Understanding What It CoversRead Article >>Insurance & BillsHealth Insurance: Understanding What It CoversYour insurance policy lists a package of medical benefits such as tests, drugs, and treatment services. These ...

The provision of wage insurance by the firm: evidence from a longitudinal matched employer-employee dataset

OpenAIRE

Cardoso, Ana Rute; Portela, Miguel

2005-01-01

We evaluate the impact of product market uncertainty on workers wages, addressing the questions: To what extent do firms provide insurance to their workforce, nsulating their wages from shocks in product markets? How does the amount of insurance provided vary with firm and worker attributes? We use a longitudinal matched employer-employee dataset of remarkable quality. The empirical strategy is based on Guiso et al. (2005). We first estimate dynamic models of sales and wages to retriev...

ABOUT RISK PROCESS ESTIMATION TECHNIQUES EMPLOYED BY A VIRTUAL ORGANIZATION WHICH IS DIRECTED TOWARDS THE INSURANCE BUSINESS

Directory of Open Access Journals (Sweden)

Covrig Mihaela

2008-05-01

Full Text Available In a virtual organization directed on the insurance business, the estimations of the risk process and of the ruin probability are important concerns: for researchers, at the theoretical level, and for the management of the company, as these influence the insurer strategy. We consider the evolution over an extended period of time of the insurer surplus process. In this paper, we present some methods for the estimation of the ruin probability and for the evaluation of a reserve fund. We discuss the ruin probability with respect to: the parameters of the individual claim distribution, the load factor of premiums and the intensity parameter of the number of claims process. We analyze the model in which the premiums are computed according to the mean value principle. Also, we attempt the case when the initial capital is proportional to the expected value of the individual claim. We give numerical illustration.

Interdependence of life insurance service quality and premium

Directory of Open Access Journals (Sweden)

Dragan Benazić

2006-12-01

Full Text Available Insurance companies in Croatia feel the need to find new sources of competitive advantage on the Croatian life insurance market amid increasing competition and a poorly profiled offer of life insurance services. Lately, both marketing literature and practice seem to point to the shaping of a relationship between service quality and price as a possible solution to improving the position of insurance companies on the Croatian market. In providing life insurance services, the insurance companies should focus on the quality elements that offer certain benefits a client is willing to pay for. Changes in individual quality features have been evaluated differently by clients. Such differences in their evaluation of changes in the individual elements of service quality also reflect the willingness of clients to pay a suitable increase on their insurance premium. Improvements in the service quality features that are subjectively evaluated as important should lead to the client’s acceptance of a higher life insurance premium. The paper considers the interdependence between the quality of life insurance services and the premium from the aspect of the client’s willingness to pay a higher life insurance premium for a higher service quality.

76 FR 37194 - Surety Companies Acceptable on Federal Bonds; Change in State of Incorportation, Business Address...

Science.gov (United States)

2011-06-24

... State of Incorportation, Business Address and Phone; St. Paul Fire and Marine Insurance Company; St. Paul Guardian Insurance Company; St. Paul Mercury Insurance Company AGENCY: Financial Management... that St. Paul Fire and Marine Insurance Company (24767), St. Paul Guardian Insurance Company (24775...

Supporting the Health of Low Socioeconomic Status Employees: Qualitative Perspectives from Employees and Large Companies.

Science.gov (United States)

Parrish, Amanda T; Hammerback, Kristen; Hannon, Peggy A; Mason, Caitlin; Wilkie, Michelle N; Harris, Jeffrey R

2018-03-13

The aim of this study was to identify alignments between wellness offerings low socioeconomic status (SES) employees need and those large companies can provide. Focus groups (employees); telephone interviews (large companies). Employees were low-SES, insured through their employers, and employed by large Washington State companies. Focus groups covered perceived barriers to healthy behaviors at work and potential support from companies. Interviews focused on priorities for employee health and challenges reaching low-SES employees. Seventy-seven employees participated in eight focus groups; 12 companies completed interviews. Employees identified facilitators and barriers to healthier work environments; companies expressed care for employees, concerns about employee obesity, and reluctance to discuss SES. Our findings combine low-SES employee and large company perspectives and indicate three ways workplaces could most effectively support low-SES employee health: create healthier workplace food environments; prioritize onsite physical activity facilities; use clearer health communications.

Distribution channels of insurance and reinsurance services

Directory of Open Access Journals (Sweden)

Njegomir Vladimir

2007-01-01

Full Text Available Insurance and reinsurance industry is famous for its traditionalism, that is uninventiveness and neglecting of marketing as business concept and function and by doing so, neglecting opportunities for optimal combination of different distribution channels. However, having in mind Drucker's thesis that only marketing and innovations produce results and that everything else are costs, that applies to all businesses including insurance and reinsurance companies, it is clear that they need to change their way of managing business. Keeping current and attracting new customers, by using optimal combination of marketing mix elements and within its scope by creating optimal mix of distribution channels, as business requirement and objective of insurance and reinsurance companies with strong marketing orientation that leads them to fulfillment of primary objective of their existence - making profit, is becoming specially emphasized with opening of domestic insurance and reinsurance market to foreign competitors with long history of gaining high level of customers' loyalty. Besides that, issues of successful distribution channels' management of insurance and reinsurance services are not treated holistically in domestic literature. Distribution channels of insurance and reinsurance services, as this study shows, are of critical importance for business success of insurance and reinsurance companies.

Long-term follow-up of whiplash injuries reported to insurance companies: a cohort study on patient-reported outcomes and impact of financial compensation.

Science.gov (United States)

Rydman, Eric; Ponzer, Sari; Brisson, Rosa; Ottosson, Carin; Pettersson-Järnbert, Hans

2018-02-10

The long-term outcome of Whiplash-associated disorder (WADs) has been reported to be poor in populations from medical settings. However, no trials have investigated the long-term prognosis of patients from medico-legal environment. For this group, the "compensation hypothesis" suggests financial compensation being associated with worsened outcome. The aims of this study were to describe long-term (2-4 years) non-recovery rates in participants with WAD recruited from insurance companies and to investigate the association between self-reported non-recovery and financial compensation. 144 participants, reporting neck pain after a motor vehicle accident, were recruited from two major insurance companies in Sweden. Self-reported recovery was measured at 6 months and 2-4 years. Those who received financial compensation from an insurance company were compared with those who received no compensation. The overall non-recovery rate after 2-4 years was 55.9% (66/118). In the non-compensated group, the non-recovery rate was 51.0% (25/49) and in the compensated group 73% (27/37) (p = 0.039). Adjusted OR was 4.33 (1.37-13.66). High level of pain at baseline was a strong predictor of non-recovery [OR 46 (4.7-446.0)]. However, no association was found between pain level at baseline and financial compensation. The non-recovery rate among patients making insurance claims is high, especially among those receiving financial compensation even if causal relationship cannot be determined based on this study. However, lack of association between baseline level of pain and compensation supports the compensation hypothesis.

The Case for Insurance Reimbursement of Couple Therapy.

Science.gov (United States)

Clawson, Robb E; Davis, Stephanie Y; Miller, Richard B; Webster, Tabitha N

2017-08-22

A case is made for why it may now be in the best interest of insurance companies to reimburse for marital therapy to treat marital distress. Relevant literature is reviewed with a considerable focus on the reasons that insurance companies would benefit from reimbursing marital therapy - the high costs of marital distress, the growing link between marital distress and a host of related physical and mental health problems, as well as the availability of empirically supported treatments for marital distress. This is followed by a focus on the major reasons insurance companies cite for not reimbursing marital therapy, along with a discussion of advances in several growing bodies of research to address these concerns. Main arguments include the direct medical offset costs of couple and family therapy (including for high utilizers of health insurance), and the fact that insurance companies already find it cost effective to reimburse for prevention of other health and psychological problems. This is followed by implications for practitioners and researchers. © 2017 American Association for Marriage and Family Therapy.

Multi-Objective Stochastic Optimization Programs for a Non-Life Insurance Company under Solvency Constraints

Directory of Open Access Journals (Sweden)

Massimiliano Kaucic

2015-09-01

Full Text Available In the paper, we introduce a multi-objective scenario-based optimization approach for chance-constrained portfolio selection problems. More specifically, a modified version of the normal constraint method is implemented with a global solver in order to generate a dotted approximation of the Pareto frontier for bi- and tri-objective programming problems. Numerical experiments are carried out on a set of portfolios to be optimized for an EU-based non-life insurance company. Both performance indicators and risk measures are managed as objectives. Results show that this procedure is effective and readily applicable to achieve suitable risk-reward tradeoff analysis.

76 FR 22451 - Surety Companies Acceptable on Federal Bonds-Change in Business Address; American Economy...

Science.gov (United States)

2011-04-21

... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds--Change in Business Address; American Economy Insurance Company, American States Insurance Company, SAFECO Insurance... formally changed their ``Business Address'' as follows: American Economy Insurance Company (NAIC 19690...

Risk Pricing and Profit Maximization of Insurance Companies ...

African Journals Online (AJOL)

The research investigates the impact of pricing of risk on the profitability of Nigeria insurance market and also the relationship between operation expenses and profitability of the non-life insurance market in Nigeria. Results show that economy, competition and government regulation have effect on pricing of risk. Also, it was ...

Company environmental communication

International Nuclear Information System (INIS)

Andriola, L.; Luciani, R.; Borghini, S.

2001-01-01

Environmental communication is becoming a sine qua non for companies which are more and more pressed by the need to reinforce communication with interested parties: environmental groups, local communities, local and national authorities, employees, share-holders, banks, insurance companies, customers and consumers. Reliable environmental information, just like economical and property data, is now required during both company take-over and financing, and in some cases it can affect insurance premiums. In fact, environmental guarantees are more and more often required because breaching environmental regulations can entail legal sanctions going as far as suspension of business. There now also Green investment funds that engage their resources only against specific environmental guarantees on the part of the companies that, before being selected for the investment, are submitted to rather accurate questionnaires by the investment manager [it

Simulation Of Premi Calculation Claims Insurance Base On Web; Case Study PT. Sinarmas Insurance Padang

OpenAIRE

Rohendi, Keukeu; Putra, Ilham Eka

2016-01-01

Sinarmas currently has several insurance services featured. To perform its function as a good insurance company is need for reform in terms of services in the process of calculating insurance premiums of insurance carried by marketing to use a calculator which interferes with the activities of marketing activities, slow printing insurance policies, automobile claims process that requires the customer to come to the office ASM, slow printing of Work Order (SPK) and the difficulty recap custome...

Insurability and mitigation of flood losses in private households in Germany.

Science.gov (United States)

Thieken, Annegret H; Petrow, Theresia; Kreibich, Heidi; Merz, Bruno

2006-04-01

In Germany, flood insurance is provided by private insurers as a supplement to building or contents insurance. This article presents the results of a survey of insurance companies with regard to eligibility conditions for flood insurance changes after August 2002, when a severe flood caused 1.8 billion euro of insured losses in the Elbe and the Danube catchment areas, and the general role of insurance in flood risk management in Germany. Besides insurance coverage, governmental funding and public donations played an important role in loss compensation after the August 2002 flood. Therefore, this article also analyzes flood loss compensation, risk awareness, and mitigation in insured and uninsured private households. Insured households received loss compensation earlier. They also showed slightly better risk awareness and mitigation strategies. Appropriate incentives should be combined with flood insurance in order to strengthen future private flood loss mitigation. However, there is some evidence that the surveyed insurance companies do little to encourage precautionary measures. To overcome this problem, flood hazards and mitigation strategies should be better communicated to both insurance companies and property owners.

Corporate social responsibility in the international insurance industry

NARCIS (Netherlands)

Scholtens, B.

2011-01-01

This paper investigates the corporate social responsibility (CSR) of insurance companies. Rating institutions provide costly information about firms' CSR and it is not clear how they arrive at their assessment. We use a transparent framework to assess the CSR of insurance companies. We apply this

7 CFR 1806.2 - Companies and policies.

Science.gov (United States)

2010-01-01

... lending institutions. (b) Insurance policies—(1) Standard policies. If a standard fire insurance policy... REGULATIONS INSURANCE Real Property Insurance § 1806.2 Companies and policies. Property insurance policies or other evidence of insurance will be accepted from borrowers when the requirements outlined herein are...

Health insurers promoting employee wellness: strategies, program components and results.

Science.gov (United States)

Murphy, Brigid M; Schoenman, Julie A; Pirani, Hafiza

2010-01-01

To examine health insurance companies' role in employee wellness. Case studies of eight insurers. Wellness activities in work, clinical, online, and telephonic settings. Senior executives and wellness program leaders from Blue Cross Blue Shield health insurers and from one wellness organization. Telephone interviews with 20 informants. Health insurers were engaged in wellness as part of their mission to promote health and reduce health care costs. Program components included the following: education, health risk assessments, incentives, coaching, environmental consultation, targeted programming, onsite biometric screening, professional support, and full-time wellness staff. Programs relied almost exclusively on positive incentives to encourage participation. Results included participation rates as high as 90%, return on investment ranging from $1.09 to $1.65, and improved health outcomes. Health insurers have expertise in developing, implementing, and marketing health programs and have wide access to employers and their employees' health data. These capabilities make health insurers particularly well equipped to expand the reach of wellness programming to improve the health of many Americans. By coupling members' medical data with wellness-program data, health insurers can better understand an individual's health status to develop and deliver targeted interventions. Through program evaluation, health insurers can also contribute to the limited but growing evidence base on employee wellness programs.

Divergent and Convergent Populations Perception on the Romanian Insurance Market

Directory of Open Access Journals (Sweden)

CRINA DIMA

2012-01-01

Full Text Available This paper aims to analyse the perception of the Ro manian population on the insurance market , by emphasizing the role of insurances in the socia l context and, in the same time, the importance of understanding its structural elements and the degree in which the Romanian population has been able to assimilate this system. The study relies on statistical sources made available by the Media Xprimm – the most important press group in the insurance market, the Annual Report of the Insurance Supervisory Commissi on (2009 and quantitatives and qualitatives surveys carried out in September 2009 in Bucharest and some large cities. The author paid special attention to the way in which the insurance market i s perceived by various socio-professionals categories such as employees, employers, free lance rs and unemployed correlated them with the degree of knowledge each of these social categories has about the types of insurance on offer by the companies. The analysis points out the existenc e of an increasing insurance market, appreciated to be positive and favourable by the respondents in Bucharest and nationwide; however, the research also showed a moderate level of awareness o n specific types of available insurances

China in transition: the new health insurance scheme for the urban employed.

Science.gov (United States)

Hindle, D

2000-01-01

China has been very successful in achieving good health at a low cost, mostly through national programs for health promotion and illness prevention. However, increased prosperity in recent years has led to higher expectations for therapeutic care, and the change to a socialist market economy has created new risks and opportunities for both financing and care provision. After several years of experimentation, China committed itself in 1996 to a major reform program which includes implementation of a new method of financing of care for the urban employed population. It comprises a mix of government-operated compulsory basic insurance, individual health savings accounts, and optional private health insurance. This paper outlines the new Scheme, and notes some tactical and strategic issues. I conclude that the Chinese government is correctly choosing to balance new and old ideas, but that there are many challenges to be faced including integration of the new Scheme with the rest of the health care system.

Survey of social health insurance structure in selected countries; providing framework for basic health insurance in Iran.

Science.gov (United States)

Mohammadi, Effat; Raissi, Ahmad Reza; Barooni, Mohsen; Ferdoosi, Massoud; Nuhi, Mojtaba

2014-01-01

paying the insurance premiums within 6-10% of their income and employment status, are entitled to use the services. Providing services to the insured are performed by indirect forms. Payments to the service providers for the fee of inpatient and outpatient services are conservative and the related diagnostic groups system. Paying attention to the importance of modification of the fragmented health insurance system and financing the country's healthcare can reduce much of the failure of the health system, including the access of the public to health services. The countries according to the degree of development, governmental, and private insurance companies and existing rules must use the appropriate structure, comprehensive approach to the structure, and financing of the health social insurance on the investigated basis and careful attention to the intersections and differentiation. Studied structures, using them in the proposed approach and taking advantages of the perspectives of different beneficiaries about discussed topics can be important and efficient in order to achieve the goals of the health social insurance.

A two-component copula with links to insurance

Directory of Open Access Journals (Sweden)

Ismail S.

2017-12-01

Full Text Available This paper presents a new copula to model dependencies between insurance entities, by considering how insurance entities are affected by both macro and micro factors. The model used to build the copula assumes that the insurance losses of two companies or lines of business are related through a random common loss factor which is then multiplied by an individual random company factor to get the total loss amounts. The new two-component copula is not Archimedean and it extends the toolkit of copulas for the insurance industry.

The Slowdown in Employer Insurance Cost Growth: Why Many Workers Still Feel the Pinch.

Science.gov (United States)

Collins, Sara R; Radley, David C; Gunja, Munira Z; Beutel, Sophie

2016-10-01

Issue: Although predictions that the Affordable Care Act (ACA) would lead to reductions in employer-sponsored health coverage have not been realized, some of the law’s critics maintain the ACA is nevertheless driving higher premium and deductible costs for businesses and their workers. Goal: To compare cost growth in employer-sponsored health insurance before and after 2010, when the ACA was enacted, and to compare changes in these costs relative to changes in workers’ incomes. Methods: The authors analyzed federal Medical Expenditure Panel Survey data to compare cost trends over the 10-year period from 2006 to 2015. Key findings and conclusions: Compared to the five years leading up to the ACA, premium growth for single health insurance policies offered by employers slowed both in the nation overall and in 33 states and the District of Columbia. There has been a similar slowdown in growth in the amounts employees contribute to health plan costs. Yet many families feel pinched by their health care costs: despite a recent surge, income growth has not kept pace in many areas of the U.S. Employee contributions to premiums and deductibles amounted to 10.1 percent of U.S. median income in 2015, compared to 6.5 percent in 2006. These costs are higher relative to income in many southeastern and southern states, where incomes are below the national average.

Efficiency Assessment in the Automobile Insurance Sector

OpenAIRE

Mar Molinero, Cecilio; Segovia, Maria-Manuela; Contreras, Ignacio

2009-01-01

Insurance companies have to take risk and cost into account when pricing car insurance policies in order to design new products to cover the risk of private use of cars. In this paper we use data from 80,000 car insurance policies in\\ud order to assess, once risk and cost have been taken into account, the policies that generate the highest returns for the company. After different profiles of clients are identified, including among the characteristics the regional\\ud location of the clients, w...

Statistical tools for non-life insurance

NARCIS (Netherlands)

Antonio, K.

2008-01-01

Within the actuarial profession a major challenge can be found in the construction of a fair tariff structure. In light of the heterogeneity within, for instance, a car insurance portfolio, an insurance company should not apply the same premium for all insured risks. Otherwise the so-called concept

On a Stochastic Model in Insurance

Indian Academy of Sciences (India)

Insurance mathematics today is considered a part of applied probability theory. Main objectives are modelling of claims that arrive in an insurance business, and decide how premiums are to be charged to avoid ruin of the insurance company. GENERAL I ARTICLE various results and the heuristics can be appreciated.

Women's Health Insurance Coverage

Science.gov (United States)

... Women's Health Policy Women’s Health Insurance Coverage Women’s Health Insurance Coverage Published: Oct 31, 2017 Facebook Twitter LinkedIn ... that many women continue to face. Sources of Health Insurance Coverage Employer-Sponsored Insurance: Approximately 57.9 million ...

75 FR 1548 - Insurer Reporting Requirements; List of Insurers Required To File Reports

Science.gov (United States)

2010-01-12

... vehicle insurers that are required to file reports on their motor vehicle theft loss experiences. An.... Each insurer's report includes information about thefts and recoveries of motor vehicles, the rating... state and; (3) rental and leasing companies with a fleet of 20 or more vehicles not covered by theft...

33 CFR 135.207 - Insurance as evidence.

Science.gov (United States)

2010-07-01

...) MARINE POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION OFFSHORE OIL POLLUTION COMPENSATION FUND... the Fund Administrator as evidence of financial responsibility shall be issued by an insurer that is acceptable to the Fund Administrator. Those insurers may include domestic and foreign insurance companies...

Nigerian Insurance System And Cost Control | Abdulkadir | Journal ...

African Journals Online (AJOL)

The stocks of most insurance companies in Nigeria are not enjoying investors' confidence and patronage because of low return on investment among other related reasons. This is not unconnected with low profits usually declared by insurance companies. One of the reasons for this low profitability is the high operating ...

Insurance of nuclear power stations

International Nuclear Information System (INIS)

Debaets, M.

1992-01-01

Electrical utility companies have invested large sums in the establishment of nuclear facilities. For this reason it is normal for these companies to attempt to protect their investments as much as possible. One of the methods of protection is recourse to insurance. For a variety of reasons traditional insurance markets are unable to function normally for a number of reasons including, the insufficient number of risks, an absence of meaningful accident statistics, the enormous sums involved and a lack of familiarity with nuclear risks on the part of insurers, resulting in a reluctance or even refusal to accept such risks. Insurers have, in response to requests for coverage from nuclear power station operators, established an alternative system of coverage - insurance through a system of insurance pools. Insurers in every country unite in a pool, providing a net capacity for every risk which is a capacity covered by their own funds, and consequently without reinsurance. All pools exchange capacity. The inconvenience of this system, for the operators in particular, is that it involves a monopolistic system in which there are consequently few possibilities for the negotiation of premiums and conditions of coverage. The system does not permit the establishment of reserves which could, over time, reduce the need for insurance on the part of nuclear power station operators. Thus the cost of nuclear insurance remains high. Alternatives to the poor system of insurance are explored in this article. (author)

Miles, speed, and technology: Traffic safety under oligopolistic insurance

NARCIS (Netherlands)

Dementieva, M.; Verhoef, E.T.

2016-01-01

We study road safety when insurance companies have market power, and can influence drivers' behavior via insurance premiums. We obtain first- and second-best premiums for different insurance market structures. The insurance program consists of an insurance premium, and marginal dependencies of that

Health Insurance

Science.gov (United States)

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

Does the company's economic performance affect access to occupational health services?

Science.gov (United States)

Kankaanpää, Eila; Suhonen, Aki; Valtonen, Hannu

2009-09-02

In Finland like in many other countries, employers are legally obliged to organize occupational health services (OHS) for their employees. Because employers bear the costs of OHS it could be that in spite of the legal requirement OHS expenditure is more determined by economic performance of the company than by law. Therefore, we explored whether economic performance was associated with the companies' expenditure on occupational health services. We used a prospective design to predict expenditure on OHS in 2001 by a company's economic performance in 1999. Data were provided by Statistics Finland and expressed by key indicators for profitability, solidity and liquidity and by the Social Insurance Institution as employers' reimbursement applications for OHS costs. The data could be linked at the company level. Regression analysis was used to study associations adjusted for various confounders. Nineteen percent of the companies (N = 6 155) did not apply for reimbursement of OHS costs in 2001. The profitability of the company represented by operating margin in 1999 and adjusted for type of industry was not significantly related to the company's probability to apply for reimbursement of the costs in 2001 (OR = 1.00, 95%CI: 0.99 to 1.01). Profitability measured as operating profit in 1999 and adjusted for type of industry was not significantly related to costs for curative medical services (Beta -0.001, 95%CI: -0.00 to 0.11) nor to OHS cost of prevention in 2001 (Beta -0.001, 95%CI: -0.00 to 0.00). We did not find a relation between the company's economic performance and expenditure on OHS in Finland. We suppose that this is due to legislation obliging employers to provide OHS and the reimbursement system both being strong incentives for employers.

Barriers to Employment Among Social Security Disability Insurance Beneficiaries in the Mental Health Treatment Study.

Science.gov (United States)

Milfort, Roline; Bond, Gary R; McGurk, Susan R; Drake, Robert E

2015-12-01

This study examined barriers to employment among Social Security Disability Insurance (SSDI) beneficiaries who received comprehensive vocational and mental health services but were not successful in returning to work. This study examined barriers to employment among 430 SSDI beneficiaries with mental disorders who received evidence-based vocational and mental health services for two years but worked less than one month or not at all. Comprehensive care teams, which included employment specialists, made consensus judgments for each participant, identifying the top three barriers to employment from a checklist of 14 common barriers. Teams most frequently identified three barriers to employment: poorly controlled symptoms of mental illness (55%), nonengagement in supported employment (44%), and poorly controlled general medical problems (33%). Other factors were identified much less frequently. Some SSDI beneficiaries, despite having access to comprehensive services, continued to experience psychiatric impairments, difficulty engaging in vocational services, and general medical problems that limited their success in employment.

Increased Patient Cost-Sharing, Weak US Economy, and Poor Health Habits: Implications for Employers and Insurers.

Science.gov (United States)

Haren, Melinda C; McConnell, Kirk; Shinn, Arthur F

2009-04-01

Many healthcare stakeholders, including insurers and employers, agree that growth in healthcare costs is inevitable. But the current trend toward further cost-shifting to employees and other health plan members is unsustainable. In 2008, the Zitter Group conducted a large national study on the relationship between insurers and employers, to understand how these 2 healthcare stakeholders interact in the creation of health benefit design. The survey results were previously summarized and discussed in the February/March 2009 issue of this journal. The present article aims to assess the implications of those results in the context of the growing tendency to increase patient cost-sharing, a weak US economy, and poor health habits. Increasing cost-sharing is a blunt instrument: although it may reduce utilization of frivolous services, it may also result in individuals forgoing medically necessary care. Increases in deductibles will lead to an overall decrease in optimal care-seeking behavior as families juggle healthcare costs with a weak economy and stagnating wages.

Machine learning and statistical techniques : an application to the prediction of insolvency in Spanish non-life insurance companies

OpenAIRE

Díaz, Zuleyka; Segovia, María Jesús; Fernández, José

2005-01-01

Prediction of insurance companies insolvency has arisen as an important problem in the field of financial research. Most methods applied in the past to tackle this issue are traditional statistical techniques which use financial ratios as explicative variables. However, these variables often do not satisfy statistical assumptions, which complicates the application of the mentioned methods. In this paper, a comparative study of the performance of two non-parametric machine learning techniques ...

[Neurosis as a mental disease--controversies surrounding insurance certification].

Science.gov (United States)

Jabłoński, Christian; Kobek, Mariusz; Kowalczyk-Jabłońska, Dorota

2011-01-01

In the years 2008-2009, experts from the Department of Forensic Medicine in Katowice issued a dozen of expert opinions on the nature of the neurosis, addressing the question whether neurosis is a mental disease as understood under the general insurance conditions or whether neurosis is a mental disease as such. All the submitted cases involved policemen who had been diagnosed as neurotic and were refused insurance payments since the insurance company claimed payments could not have been effected due to the diagnosis of mental disease, meaning neurosis in the discussed cases. The plaintiffs invoked the fact that medical terminology describes such states as "mental disorders". In the article, the authors present the adopted model of opinionating, make an attempt at explaining the controversy and discuss the subtleties of medical terminology and the core differences between the terms "mental disorder" and "mental disease" as employed in medico-legal opinionating in such cases.

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...

Perceived Relationships among Components of Insurance Service for Users of Complementary Health Insurance Service

OpenAIRE

Urban Sebjan

2013-01-01

This article explores the relationship between the components of the services provided by complementary voluntary health insurance (CVHI), to which users ascribe different levels of importance. Research model that consists of four constructs (importance of quality service, additional coverage, price discounts of CVHI and insurance company reputation) and an indicator of the importance of insurance premium of CVHI was tested with structural equation modelling (SEM) on the sample of 300 Sloveni...

Investment Guarantees in the South African Life Insurance Industry ...

African Journals Online (AJOL)

This paper explores the risks faced by South African life insurance companies arising from the provision of investment guarantees in products sold. The current thinking and practice of the larger South African life insurance companies regarding investment guarantees is set out following their responses to a survey.

24 CFR 203.203 - Issuance and nature of insured 10-year protection plans.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Issuance and nature of insured 10... Underwriting Procedures Insured Ten-Year Protection Plans (plan) § 203.203 Issuance and nature of insured 10-year protection plans. (a) Plans may be issued: (1) By a builder, warranty company, insurance company...

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.

Minimum Value of Eligible Employer-Sponsored Plans and Other Rules Regarding the Health Insurance Premium Tax Credit. Final regulations.

Science.gov (United States)

2015-12-18

This document contains final regulations on the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended by the Medicare and Medicaid Extenders Act of 2010, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, and the Department of Defense and Full-Year Continuing Appropriations Act, 2011. These final regulations affect individuals who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges, sometimes called Marketplaces) and claim the health insurance premium tax credit, and Exchanges that make qualified health plans available to individuals and employers.

Enterprise risk management and firm value within China’s insurance industry

Directory of Open Access Journals (Sweden)

Qiuying Li

2014-02-01

Research purpose: The purpose of the study is to empirically examine the relationship between ERM and firm value. The study is undertaken within the context of the Chinese insurance industry. Motivation for the study: Recent attempts to link ERM with firm value have been undertaken primarily in the USA and Europe and have produced ambiguous and inconclusive findings. Research design, approach and method: Data was obtained from the China Insurance Regulatory Commission, a government body responsible for regulating insurance products and services in China. The data sample consisted of 135 insurance companies operating in China (in 2010. Regression modelling is employed to analyse the data. Main findings: The results show the relationship between ERM and firm value at first appears statistically significant within a Pearson correlation matrix but then falls below statistical significance on closer scrutiny through regression analysis. Accordingly, it is recommended that insurers in China should not look to aggressive investment in ERM as a strategy for producing quick gains in firm value. Practical/managerial implications: Risk managers should plan ERM development from a risk management maturity perspective, which equates the highest level of ERM development with ERM’s capacity to improve firm resilience to the unknown and serve as a mechanism for strategic decision-making. Contribution/value-add: The study employed return on equity as a proxy for firm value, utilising ordinary least squares regression modelling to test propositions of the relationships between variables.

SERVICE QUALITY MEASUREMENT AND DEMAND FOR INSURANCE: AN EMPIRICAL STUDY FROM NIGERIAN INSURANCE INDUSTRY

Directory of Open Access Journals (Sweden)

Abass, OlufemiAdebowale

2016-11-01

Full Text Available Insurance provides financial protection to the insured, though; its acceptance by Nigerian insuring public is still low. This can sharply be traced to low awareness of insurance service. More importantly, quality of service to the few who embraced it had been low. Therefore, insuring public perceives insurance service as defective because customers’ expectations are not met. The objective of this research is to find out whether application of service quality measurement will drive demand for insurance products. Hypothesis was tested to find out whether SERVQUAL measurement is not significantly related to demand for insurance products in Nigeria. The study adopts descriptive research design; hypothesis was tested using regression analysis. The study reveals that there is a significant relationship between application of SERVQUAL measurement and demand for insurance. It is recommended that insurance companies operating in Nigeria should adopt SERVQUAL measurement which will further increase customer retention and loyalty.

12 CFR 618.8040 - Authorized insurance services.

Science.gov (United States)

2010-01-01

... association, to accept or reject such insurance. (b) Bank and association board policies governing the... by receipt of commissions or gifts from underwriting insurance companies. However, employees may... extension of credit or provision of other service on the purchase of insurance sold or endorsed by a bank or...

The art of alternative risk transfer methods of insurance

Directory of Open Access Journals (Sweden)

Athenia Bongani Sibindi

2015-11-01

Full Text Available The very basis of insurance is risk assumption. Hence it is the business of insurance to give risk protection. The notion that all ‘risk is risk’ and hence should be treated as such, has become the driving force on the risk landscape. Insurance companies have no room to be selective, as there are competitive threats posed by other financial players who are waiting on the wings to invade the market segment. There has been an emergence of new risks, such as cyber, terrorism as well as liability risks. The insurance cycles have made traditional insurance cover expensive. In this article we sought to interrogate whether Alternative Risk Transfer techniques represent a cost effective way of balancing insurability and the bottom line by analysing global trends. On the basis of the research findings it can be concluded that indeed the ART solutions are a must buy for both corporates and insurance companies, as they result in the organisation using them achieving financial efficiency. The present study also demonstrates that there is a paradigm shift in insurance from that of indemnity to that of value enhancement. Lastly the study reveals that ART solutions are here to stay and are not a fad. Insurance companies cannot afford the luxury of missing any further opportunities, such as happened with Y2K, which proved to be a free lunch.

Universal Health Insurance and the Reasons of not Coverage in Iran: Secondary Analysis of a National Household Survey

Directory of Open Access Journals (Sweden)

Shirin Nosratnejad

2015-08-01

the great importance of appropriate data for insurance companies and the role of it for policy-makers, there are many challenges associated with accessibility and accuracy of the data. According to our analysis on national survey, 15% of Iranian residents have neither social nor private insurance coverage. The lack of information and coordination among insurance companies has led to double insurance coverage for some people. Financial inability, feeling no need for insurance, unemployment, the lack of insight, employer bypass and uselessness of insurance which had been ranked as main reasons for not getting coverage, should be taken into consideration by policy-makers.

The Hungarian car insurance cartel saga

NARCIS (Netherlands)

Cseres, K.J.; Szilágyi, P.; Rodger, B.

2013-01-01

his chapter discusses the landmark Hungarian case relating to the car insurance and repair markets, which involved both vertical and horizontal agreements. The case concerned the horizontal relationship between Hungary’s two largest insurance companies and their vertical relationships with car

The imagine of establishing China nuclear insurance model

International Nuclear Information System (INIS)

Wu Yimin

2010-01-01

Nuclear power Insurance is one important technique for risk managements of Nuclear power Enterprises. At present, nuclear risk of Nuclear power plants in China has been mainly supported by China Nuclear Insurance pool (hereinafter called CNP) to get coverage from International Nuclear Insurance pool (hereinafter called NIP). CNIP has several advantages to confirm low-cost. Operation, such as large underwriting capacity, international approval and cession, direct writing without agents. However, there are both deficiencies, first, can not get rid of dependence on International markets ; second, in the absence of competition in Self- insurance organizations , tough and opaque premium offer greatly restricted the enthusiasm for Nuclear power plants insuring .But the next ten year is a golden decade for China Nuclear industry development; Nuclear power market is demonstrating tremendous growth potential. With new units put into operation, all kinds of nuclear insurance demand will release when subject-matter insured substantially increase. So, breaking the current bottleneck of China Nuclear Insurance and establishing China Nuclear Insurance (hereinafter called: Nuclear insurance) model adapting to China national conditions will play an important role in Nuclear power development. I made the advice that both domestic nuclear enterprises and general insurance companies initiate a 'Nuclear insurance company'. (authors)

The aplication of electronic commerce in the distribution of insurance services

Directory of Open Access Journals (Sweden)

Piljan Ivan

2016-01-01

Full Text Available The paper describes the importance of information and communication technology for the development of the insurance companies, with special emphasis on the current development and potential for further development of marketing, and the distribution of insurance products in particular, which relies on information and communication technologies, especially the Internet. A special place here is reserved for the internet marketing as the most common of Internet uses among insurance companies. Transforming business processes so that they comply with the principles of electronic commerce will in the neaar future become common even in smaller businesses, formerly conservative financial institutions, e.g. insurance companies, are increasingly turning to e-insurance which, despite high costs of its introduction and initial problems in the operation, are to be relied upon in the near future. Therefore, in many countries, it is becoming accepted, to a greater or lesser extent. Mobile communication brings the biggest changes in electronic commerce. Even today, its prevalence among consumers offers great opportunities for service providers. Insurance companies in our country at this moment do not offer their services through this specific communication channel, but in the very near future changes can be expected in this field, due to the fact that the prerequisites for that exist in Serbia. This is supported by information that some insurance companies in the neighboring countries have already activated their first applications for smart phones and similar applications in the Serbian banking industry already exist.

77 FR 29884 - Assessment of Fees on Large Bank Holding Companies and Nonbank Financial Companies Supervised by...

Science.gov (United States)

2012-05-21

... holding company's four most recent Consolidated Financial Statements for Bank Holding Companies (FR Y-9C... with total consolidated assets of $50 billion or greater and nonbank financial companies supervised by... financial institutions and insurance companies were critical of the proposed use of total consolidated...

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

Determinants of Financial Performance in The Indonesian Islamic Insurance Industry

Directory of Open Access Journals (Sweden)

Iman Pirman Hidayat

2017-03-01

Full Text Available The purpose of this study is to determine the role of the board of directors as an operating executive, as the company's supervisory board of commissioners, the proportion of managerial ownership and institutional ownership as well as leverage on the financial performance of Islamic insurance industry. The method used is multiple regression analysis and Moderated Regression Analysis. Data of company successfully researched as many as 15 Islamic insurance companies in Indonesia with a study period of 2011 to 2015. The results showed that the board does not affect the financial performance of Takaful. Commissioners, managerial ownership, institutional ownership and leverage positive effect on the financial performance of Islamic insurance industry in Indonesia. The size of the company weakens the relationship between the number of directors and leverage to financial performance, and did not moderate the relationship between the number of commissioners, managerial ownership and institutional ownership of the financial performance of Islamic insurance industry..DOI: 10.15408/etk.v16i1.4648

Insurance payment process for HANDI 2000 business management system

Energy Technology Data Exchange (ETDEWEB)

Wilson, D.

1998-08-24

The Pensions and Savings group handles three types of payment into and out of Fluor Daniel Hanford related to insurance benefits: Premium payment to insurance company; Application of employee insurance withholding against insurance costs; Remittance of insurance claims, and administrative fees. General approach in making and recording the remittance is by forwarding payment information to Accounts Payable Master.

COMPARATIVE ANALYSIS OF THE LIFE INSURANCE IN REPUBLIC OF MACEDONIA AND REPUBLIC OF SERBIA

Directory of Open Access Journals (Sweden)

GORDANA VITANOVA

2015-12-01

Full Text Available The insurance companies are important participants in the capital market. They have significant contributions in providing financial stability and encouraging competitiveness on the financial market. The insurance companies mobilize huge financial resources, investing them into different financial instruments, and so it is real to expect that they will take a role of leading institutional mediators in future. The insurance companies offer life and common insurance. Policies for life insurance offer possibility to invest into own safety and easier tackling with life challenges and uncertainties. They are especially important for the individual , because he/she is constantly exposed to risks during his/her life and work, that are manifested into decreasing of working ability and lack of resources for life in some defined period. In the developed countries, there is a tradition for possessing policies for life insurance, but it is not a case in R.Macedonia. Therefore, in this study, we shall carry out comparative analysis of life insurance in R. Macedonia and R. Serbia, the politics of insurance companies and supervision of the insurance sector, and we shall give proposals for encouraging development of insurance market in these two countries, and for increasing individual’s awareness of the benefits of having policies for life insurance.

On 1-convexity and nucleolus of co-insurance games

NARCIS (Netherlands)

Driessen, Theo; Fragnelli, Vito; Katsev, Ilya V.; Khmelnitskaya, Anna Borisovna

The situation, in which an enormous risk is insured by a number of insurance companies, is modeled through a cooperative TU game, the so-called co-insurance game, first introduced in Fragnelli and Marina (2004). In this paper we show that a co-insurance game possesses several interesting properties

Health Insurance and Risk of Divorce: Does Having Your Own Insurance Matter?

Science.gov (United States)

Sohn, Heeju

2016-01-01

Most American adults under 65 obtain health insurance through their employers or their spouses’ employers. The absence of a universal healthcare system in the United States puts Americans at considerable risk for losing their coverage when transitioning out of jobs or marriages. Scholars have found evidence of reduced job mobility among individuals who are dependent on their employers for healthcare coverage. This paper finds similar relationships between insurance and divorce. I apply the hazard model to married individuals in the longitudinal Survey of Income Program Participation (N=17,388) and find lower divorce rates among people who are insured through their partners’ plans without alternative sources of their own. Furthermore, I find gender differences in the relationship between healthcare coverage and divorce rates: insurance dependent women have lower rates of divorce than men in similar situations. These findings draw attention to the importance of considering family processes when debating and evaluating health policies. PMID:26949269

Limits of insurability; Grenzen der Versicherbarkeit

Energy Technology Data Exchange (ETDEWEB)

Haerig, Michael [Marsh GmbH, Duesseldorf (Germany)

2008-07-01

Companies of the energy industry are facing risks which only insufficiently can be covered with classical insurance solutions. In particular, further developments and new technologies confront operators of power stations with challenges to attain a sufficient insurance protection. By means of a comprehensive risk management and insurance management tailor-made, convincing solutions and concepts are possible. The contribution under consideration exemplary presents some selected topics.

Rhetoric and Lexicalisation as Aspects of Persuasive Strategy in the Language of Insurance Advertising in the Nigerian Print Media

Directory of Open Access Journals (Sweden)

Albert Lekan Oyeleye

2014-09-01

Full Text Available This paper examines the discourse function of rhetoric and lexicalisation in insurance advertising discourse in the Nigerian print media. It investigates how they are used as part of the advertisers’ strategies of persuasion. Published insurance advertisements were collected from three purposively selected Nigerian national newspapers The Guardian, The Punch and Daily Champion, complemented with billboard advertisements from all the southwestern states of Nigeria. These were analysed using insights from Gumperz (1982’s theory of interactional sociolinguistics and M.A.K. Halliday’s systemic functional grammar. The analysis reveals that the lexical choice of the advertisers contained a dominant use of skill-indicative lexical items which portrayed the insurance companies as experts in their field. There was also a strategic use of morality indicative lexical items, to persuade potential clients about the trustworthiness of the company. Risk-indicative and, action-provoking lexical items, pictorial rhetoric and rhetorical devices like metaphor, hyperbole and personification were employed as persuasive strategies.

ETHICS IN THE INSURANCE INDUSTRY

OpenAIRE

Gavriletea Marius

2008-01-01

The present paper debates the main aspects related to ethics, into an industry that recorded exponential growth in Romania insurance field. A very important role for a good business is enhanced by the ethics. The specialists appreciate that ethics represent a key factor for business success. Obviously, the insurance field into a competition market must follow all the aspects related to ethics. The ethics should be an essential element of every insurance company management. If we talk about et...

On 1-convexity and nucleolus of co-insurance games

NARCIS (Netherlands)

Driessen, Theo; Fragnelli, Vito; Katsev, Ilya V.; Khmelnitskaya, Anna Borisovna

2011-01-01

The insurance situation in which an enormous risk is insured by a number of insurance companies is modeled through a cooperative TU game, the so-called co-insurance game, first introduced in Fragnelli and Marina (2004). In this paper we present certain conditions on the parameters of the model that

THE ROLE OF RELATIONSHIP MARKETING ON INSURANCE MARKET DURING THE CRISIS PERIODS

Directory of Open Access Journals (Sweden)

Cristinel CONSTANTIN

2009-01-01

Full Text Available This paper is about a research regarding the implications of presenteconomic crisis on a market created to cover various risks that could affectboth individuals and companies. The main objective of the research was toestablish the coordinates of the insurance market at the EU countries level inorder to find solutions that insurance companies could use for avoiding thenegative impact of the crisis and to re-launch the local insurance market. Theoutcomes of our research have shown a low development of Romanianinsurance market, this one being among the lowest developed market in theEuropean Union. Taking into consideration the psychological impact of thecrashes recorded by the biggest worldwide insurers, the best solution forlocal companies is to use the tools of relationship marketing that coulddevelop the confidence of customers in insurance services.

EVOLUTION OF ECONOMY AND ITS IMPACT ON INSURANCE MARKET – A STATISTICAL ANALYSIS

Directory of Open Access Journals (Sweden)

Sandra TEODORESCU

2015-07-01

Full Text Available The economic context has a strong impact on the insurance sector. On the one hand, the decisions related to sector regulation could influence the life of the insurance companies. On the other hand, taxes and other measures that may affect purchasing power, economic instability represent a threat. It is a fact that insurances are products that customers and companies access them when economic conditions are predictable and budgets could be accurately predicted. The paper mainly analyzes in terms of indicators, the impact of the economy on the insurance sector. We are talking about the interrelationships between Gross Written Premiums (the insurance "Budget" and some macroeconomic indicators characterizing the Romanian economy, such as Gross Domestic Product, net average earnings, the average number of employees etc. Statistical analysis is performed for a 12-year period during 2002-2013. This analysis is based on official statistics published by the National Institute of Statistics, the National Forecasting Commission and the National Bank of Romania. The methodology consists of correlation and regression analysis. Of the variables used in the study we mention: Gross Domestic Product, the number of employees, employment, net average earnings, the activity rate of the working age population (15-64 years, non-governmental domestic credit. The analysis of correlation between the studied variables reveals that is a strong correlation between Gross Written Premiums and GDP, the number of employees, average earnings and non-government domestic credit.. Thus, economic growth, rising incomes, the increasing number of employees and facilitating credit conditions could be some elements that would lead to sustainable growth of the insurance market.

PORTFOLIO ANALYSIS - A BASIC INSTRUMENT IN STRATEGIC PLANNING. CASE STUDY ON THE ROMANIAN INSURANCE MARKET

Directory of Open Access Journals (Sweden)

Petrescu Marian

2011-12-01

Full Text Available Practice proved that strategic planning is a necessary process for insurance companies. This process can help companies to adapt more easily to environmental changes. The strategic planning of the activity of an insurance company cannot be realized without a careful analysis of the evolution of the market and without studying the company's market position. A classic model used in the portfolio analysis is the Boston Consulting Group model. In this paper we have used the model for studying the activity of the leader of the Romanian insurance market. In 2009 Alliantz Tiriac had 17 types of insurance in the portfolio. Each class of insurance was considered a strategic business unit. We have studied the insurance portfolio by using secondary data from specialized publications, such as the Romanian Insurance Supervisory Commission. Using the data, we have calculated for Alliantz Tiriac, for each class of insurance, the relative market share. The company was leader on the market for five classes of insurance. The economic crisis had a severe impact on the evolution of the Romanian insurance market: from the 17 classes of insurance studied: nine had registered a decrease of the market, eight had registered an increase, but only for three of them the growth exceeded 10%. Using the relative market share and the market growth we have identified the “cash cows”: there are five classes of insurance in this category, among which the “Insurance for land vehicles (CASCO” which represented more than half of the sales (55.82%; unfortunately, in the case of this insurance type there was a very significant decrease of the market in 2010 compared to 2009: -25.12%, the “question marks” – there are three classes of insurance in this category, and the “dogs”. Due to the crisis, a large number of the company's products are in this category and there are no “star” products. This work was supported by CNCSIS – UEFISCSU, project number 915 / 2009

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.

Visualization tools for insurance risk processes

OpenAIRE

Krzysztof Burnecki; Rafal Weron

2006-01-01

This chapter develops on risk processes which, perhaps, are most suitable for computer visualization of all insurance objects. At the same time, risk processes are basic instruments for any non-life actuary – they are vital for calculating the amount of loss that an insurance company may incur.

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 &...

Knightian uncertainty and insurance regulation decision

NARCIS (Netherlands)

Chen, A.; Su, X.

2008-01-01

In contrast to insurance companies, regulatory authorities or regulators can obtain only limited information about the companies' value. It hence leads to some effects on the regulation design, which is however often overlooked in the literature. This paper characterizes the limited/imperfect

Considerations on Albanian Life Insurance Market

Directory of Open Access Journals (Sweden)

Gentiana Sharku

2011-03-01

Full Text Available The life insurance sector is an important sector of the economy all over the world. Life insurance provides the economy and the individuals as well, a variety of fundamental financial services.Regardless the importance it has all around the world, life insurance market in Albania is still underdeveloped comparing not only to the Western European countries, but to the region countries as well. The comparative analysis of insurance market is carried out by means of two indexes: insurance density and penetration index. The life insurance market in Albania is facing several problems which will be further explained in the paper, together with some recommendations to be taken in account by Albanian insurance companies and the Albanian government as well.

The Study on the Penalty Function of the Insurance Company When the Stock Price Follows Exponential Lévy Process

Science.gov (United States)

Wu, Zhao; Ding-Cheng, Wang; Yong, Zeng

This paper investigates the penalty function under the condition that the insurance company is allowed to invest certain amount of money in some stock market and the remaining reserve in the bond with constant interest force. Through the properties of exponential Lévy process and discrete embedded method, the integral equations for penalty function is derived under the assumption that the stock price follows exponential Lévy process. The method for explicitly computing the ruin quantities is obtained.

The Big Five Health Insurers' Membership And Revenue Trends: Implications For Public Policy.

Science.gov (United States)

Schoen, Cathy; Collins, Sara R

2017-12-01

The five largest US commercial health insurance companies together enroll 125 million members, or 43 percent of the country's insured population. Over the past decade these insurers have become increasingly dependent for growth and profitability on public programs, according to an analysis of corporate reports. In 2016 Medicare and Medicaid accounted for nearly 60 percent of the companies' health care revenues and 20 percent of their comprehensive plan membership. Although headlines have focused on losses in the state Marketplaces created by the Affordable Care Act (ACA), the Marketplaces represent only a small fraction of insurers' members. Overall, the five largest insurers have remained profitable since passage of the ACA as a result of profits in other market segments. Notably, companies with significant Medicare or Medicaid enrollment have continued to insure beneficiaries in states where the insurers do not participate in Marketplaces. Given the insurers' dependence on public programs, there is potential to improve access if federal or state governments, or both, required insurers that participate in Medicare or Medicaid to also participate in the Marketplaces in the same geographic area. Such requirements could ensure more viable and less volatile insurance, benefiting people insured within each market as well as those who cycle on and off public and private insurance.

THE INFLUENCE OF LEVERAGE AND DIVERSIFICATION TO FINANCIAL PERFORMANCE OF GENERAL INSURANCE COMPANIESN IN INDONESIA 2010-2014

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Yulianti ,

2017-02-01

Full Text Available The purpose of this research is to find out the influence of leverage and diversification to financial performance of general insurance companies in Indonesia. This research uses secondary data from Indonesian general insurance companies’s financial report  within  year 2010 to 2014. The population of this research  is general insurance companies in Indonesia which listed as member of The General Insurance assosiation of Indonesia. The number of samples that used in this research are 10 general insurance companies which were selected based on purposive sampling method.This research used pooled regression models and hypothesis testing for each independent variable on dependent. The Result of this research shows that leverage and diversification significantly affect positively to general insurance company’s financial performance in Indonesia. Keywords : leverage, diversification, financial performance, insurance companies, and ROE.

Age and race differences on career adaptability and employee engagement amongst employees in an insurance company

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Rebecca Tladinyane

2015-12-01

Full Text Available The objective of the study was to determine whether age and race groups differ significantly regarding career adaptability (measured by Career Adapt-Abilities Scale (CAAS and employee engagement measured by Utrecht Work Engagement Scale (UWES. A quantitative survey was conducted with a convenience sample (N = 131 of employees in an insurance company within South Africa. Descriptive and inferential statistical analyses were performed to achieve the objective of the study. The results showed significant differences between age and race groups in relation to the constructs. Organisations need to recognise biographical differences with regards to career adaptability and employee engagement with reference to engagement interventions and the career counselling setting.

Changes to the Employers' Use of Genetic Information and Non-discrimination for Health Insurance in the USA: Implications for Australians

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Gemma A. Bilkey

2018-06-01

Full Text Available In the USA, a bill has been introduced to the senate that may jeopardize an individual's rights to privacy and non-discrimination. This piece examines the proposed Preserving Employee Wellness Programs Act (PEWPA, and implications this will have on the use of genetic information. The Act allows for employers to apply financial penalties for health insurance based on genetic information, which raises concerns as the capacity to interpret genetic results is limited by knowledge of the significance of both benign and pathogenic variants. In Australia, genetic information can only be used to determine life insurance, not to stratify health insurance, and any precedent set internationally should raise concerns of the potential for change on the horizon.

Forest insurance market participants’ game behavior in China: An analysis based on tripartite dynamic game model

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Ning Ma

2015-11-01

Full Text Available Purpose: In forest insurance market, there are three main participants including the insurance company, the forest farmer and the government. As different participant has different benefit object, there will be a complex and dynamic game relationship among all participants. The purpose of this paper is to make the game relationship among all participants in forest insurance market clear, and then to put forward some policy suggestions on the implementation of forest insurance from the view of game theory. Design/methodology/approach: Firstly, the static game model between the insurance company and the forest farmer is set up. According to the result of static game model, it’s difficult to implement forest insurance without government. Secondly, the tripartite dynamic game model among the government, the insurance company and the forest farmer is proposed, and the equilibrium solution of tripartite dynamic game model is acquired. Finally, the behavioral characteristics of all participants are analyzed according to the equilibrium solution of tripartite dynamic game model. Findings: the government’s allowance will be an important positive factor to implement forest insurance. The loss of the insurance company, which the lower insurance premium brings, can be compensated by the allowance from the government. The more the government provides allowance, the more actively the insurance company will implement forest insurance at a low insurance premium. In this situation, the forest farmer will be more likely to purchase the forest insurance, then the scope of forest insurance implementation will expend. Originality/value: There is a complex and dynamic game relationship among all participants in forest insurance market. Based on the tripartite dynamic game model, to make the game relationship between each participant clear is conducive to the implementation of forest insurance market in China.

Effectiveness of insurance risk management under crisis conditions

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I.G. Goncharenko

2015-06-01

Full Text Available In the article some historical aspects of insurance, domestic trends in insurance risk management with aspects of international experience, the modern role of insurance and insurance companies in a market economy, factors of risk management system and the nature of the insurance portfolio are analyzed. Factors of risk events in insurance, the spectrum of risks, imbalance of the insurance market in crisis conditions are outlined; expert’s estimations of the insurance market in recent years are examined. Problems of insurance business perform are determined, especially insurance risk management. The ability to use the provisions of European insurance regulation on internal domestic insurance market is analyzed, and also the aspects of integration of Ukrainian insurance market are determined.

A psychometric evaluation of measures of effective well-being in an insurance company

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W J Coetzer

2007-01-01

Full Text Available The objectives of this study were to validate two measures of affective well-being, namely the Maslach Burnout Inventory (MBI and the Utrecht Work Engagement Scale (UWES for employees in an insurance company, to assess their construct equivalence for different language groups and to determine the relationship between burnout and work engagement. A cross-sectional survey design with an availability sample (N = 613 was used. The MBI, UWES and a biographical questionnaire were administered. Structural equation modelling confirmed a three-factor model of burnout, consisting of Exhaustion, Cynicism and Professional Efficacy and a three-factor model of work engagement consisting of Vigour, Dedication and Absorption. Acceptable construct equivalence of the three-factor model of burnout and work engagement for different language groups was confirmed. A second-order factor analysis of the scales resulted in two factors, namely burnout and work engagement.

Do Insurers Have to Pay for Bad Behaviour in Settling Claims? Legal Aspects of Insurers' Wrongful Claims Handling

NARCIS (Netherlands)

W.H. van Boom (Willem)

2011-01-01

textabstractAbstract: This article presents a comparative legal analysis of wrongful claims handling by insurance companies in indemnity and liability insurance. From the outset, it is clear that it may be difficult to draw the line between legitimate claims denial and refusal to pay, on the one

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)

Efficiency concept and investigations in insurance industry: A survey

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Bilel Jarraya

2013-01-01

Full Text Available Most recent studies are based on benchmarking analysis allowing the measure of company efficiency relatively to a reference performance. Benchmarking is a helpful tool to analyze and promote efficiency in insurance companies. The fast development of X-efficiency notion makes traditional performance measures (ROA, ROE, etc. obsolete. Indeed, various methods have been used, various input-output measures have been proposed and various research fields have been explored in insurance company investigation. So, after reviewing most known efficiency concepts and their definitions, this section explores the literature review of two principal points of discussion: the first point is focused on the different used techniques to measure efficiency, including the developed approaches to define inputs, outputs and their prices. The second point represents an overview of efficiency investigations in insurance industry.

Entrepreneurial Moral Hazard in Income Insurance

DEFF Research Database (Denmark)

Ejrnæs, Mette; Hochguertel, Stefan

We study risk behavior of Danish self-employed entrepreneurs, whose income risk may be driven by both exogenous factors and effort choice (moral hazard). Partial insurance is available through voluntary unemployment insurance (UI). Additional incentives to sign insurance contracts stem from a UI......-embedded, government-subsidized early retirement (ER) program, giving benefits that are unrelated to business risk. Indeed, we argue that the self-employeds' incentives to insure themselves stem from the ER plan rather than from the UI cover. We show how to use a policy reform to identify moral hazard in observed...

School Insurance: Managing the Local Program. Bulletin, 1959, No. 23

Science.gov (United States)

Finchum, R. N.; Viles, N. E.

1959-01-01

This study is the second in a series of publications by the Office of Education on school insurance. Data for this study were adapted from many sources. Among these sources were books of a technical nature, professional magazine articles, State insurance guides, research studies, insurance rating schedules, insurance company bulletins, and…

Market valuation in the framework of modern life insurance mathematics

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Maja Petrač

2013-12-01

Full Text Available In the traditional actuarial life insurance mathematics, liabilities to beneficiaries (technical reserves are calculated based on conservative assumptions of mortality and interest rates. However, this approach was found to be incomplete since it does not contain the market component which has become essential due to the development of the financial market. Since about 80% of total liabilities of life insurance companies are made up of technical reserves, this issue has a major impact on the overall performance of insuran - ce companies. The introduction of financial components into the actuarial valuation resulted in actuarial mathematics using more and more the elements of financial mathematics thus creating new, modern life insurance mathematics. Using a simple example, this paper compares the traditional and market approaches to valuation. For this purpose, one of the principles of modern life insurance mathematics, the principle of equivalence, was observed. The above market approach to valuation, together with operational risk management, forms the basis of Solvency II Directive, the new legislative and regulatory framework for insurance and reinsurance companies in the European Union.

75 FR 36153 - Surety Companies Acceptable On Federal Bonds-Change In Business Address: American Economy...

Science.gov (United States)

2010-06-24

... DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable On Federal Bonds--Change In Business Address: American Economy Insurance Company; American Fire and Casualty Company; American States... ADDRESS'' as follows: American Economy Insurance Company (NAIC 19690). BUSINESS ADDRESS: 500 North...

Prevention in insurance markets

OpenAIRE

Marie-Cécile FAGART; Bidénam KAMBIA-CHOPIN

2006-01-01

This paper considers a competitive insurance market under moral hazard and adverse selection, in which preventive efforts and self-protection costs are unobservable by insurance companies. Under reasonable assumptions, the conclusions of Rothschild and Stiglitz (1976) are preserved in our context even if it involves moral hazard. The riskier agents in equilibrium, who would also be the riskier agents under perfect information, receive their moral hazard contract. For other agents, adverse sel...

Smart Questions To Ask Your Insurance Agent.

Science.gov (United States)

Cohen, Abby J.

1997-01-01

Provides advice on insurance coverage for child care centers. Suggests that before purchasing insurance you inquire about the agent's qualifications, company's financial stability, and corporate ratings; and obtain written answers to questions about specific coverage issues such as volunteers, legal defense costs, special events, and…

INSURANCE AND THE CORPORATE COST OF CAPITAL

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Monika Wieczorek-Kosmala

2012-04-01

Full Text Available The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a company by influencing both the cost of capital components and the need for rising capital. The problem is here perceived from two perspectives – the classical concept related to the weighted average cost of capital (WACC and a novel concept related to the risk-based capital structure model with the total average cost of capital (TACC. The paper explains the idea of insurance as a retrospective (post-loss risk financing tool and the risk transfer mechanism upon it. As the risk financing tool insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may reduce the level of operating risk and thus influences the required returns of the capital providers. These observations allow emphasising the impact of insurance on the WACC. However, according to the novel concept of the risk-based capital structure, insurance (as a risk financing tool represents an off-balance sheet capital component. As a consequence, it extends the volume of total capital. The presented conceptual model, based on the TACC concept, indicates that large volume of insurance (the insurance sum and its relatively low cost (the insurance premium gives the possibility to the significant reduction of the cost of capital on average. The concluding remarks discuss some dilemmas over the utility of the TACC concept.

Determinants of employment-based private health insurance coverage in Denmark

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Astrid Kiil

2011-10-01

Full Text Available This study estimates the determinants of having employment-based private health insurance (EPHI based on data from a survey of the Danish workforce conducted in 2009. The study contributes to the literature by exploring the role of satisfaction with the tax-financed health care system as a potential determinant of EPHI ownership and by taking into account that some employees receive EPHI free of charge, while others pay the premium out of their pre-tax income and thus make an actual choice. The results indicate that the probability of having EPHI is positively affected by private sector employment, size of the workplace, whether the workplace has a health scheme, income, being employed as a white-collar worker, and age until the age of 49, while the presence of subordinates, gender, education level, membership of 'denmark' and living in the capital region are not significantly associated with EPHI coverage. As expected, the characteristics related to the workplace are by far the quantitatively most important determinants. The association between EPHI and self-assessed health is found to be quadratic such that individuals in good self-assessed health are more likely to be covered by EPHI than those in excellent and fair, poor or very poor self-assessed health, respectively. Finally, the probability of having EPHI is found to be negatively related to the level of satisfaction with the tax-financed health care system. The findings of the study are not affected notably by distinguishing empirically between employees who receive EPHI free of charge and those who pay the premium out of their pre-tax income. Link to Appendix

Fed Up with Rising Premiums, Colleges Go into the Insurance Business

Science.gov (United States)

June, Audrey William

2006-01-01

American universities are turning to captive companies, a highly specialized form of self-insurance, in an effort to cope with ever-increasing premiums. Indiana University formed the Old Crescent Insurance Company in 2005 to provide coverage for the institution's eight campuses, a move that gives it more control over costs while allowing the…

STATE AND PROBLEMS OF DEVELOPMENT OF INSURANCE MARKET OF UKRAINE

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L. V. Martseniuk

2016-04-01

Full Text Available Purpose. The insurance market of Ukraine is still interesting for foreign investors. However, there is a range of negative factors. They are: 1 the old regulatory framework, public access and transparency of the insurance market for population; 2 low profitability of certain types of insurance; 3 low competitiveness of the insurance companies in comparison with commercial banks in attraction drive of free funds of legal entities and individuals; 4 insufficient state regulation and control does not allow the insurance market to develop effectively. Therefore, the purpose of the article is to analyze and identify the causes that hinder the development of insurance business in Ukraine, as well as to determine the directions of insurance market development. Methodology. To achieve this purpose the article determines the total number of insurance companies, composes the gross payment rating of the largest of them, presents the dynamics of net insurance premiums for basic insurance. This analysis allows you to identify problematic issues and activities of the insurance market. Findings. The analysis of the article revealed a number of factors that prevent successful development of insurance in Ukraine. The authors suggest priority areas for improving the situation in the insurance market. It was found that the main tasks of the development of insurance are: 1 legal framework reform; 2 improving competitiveness, investment attractiveness of the insurance companies; 3 development of modern infrastructure of the insurance market; 4 expanding the range of services and their compliance with international standards; 5 personnel development; 6 improvement of insurance activity licensing; 7 building of culture and public trust. At the same time the increase in the population solvency, economic and political stability in the country will contribute to the stabilization and intensive development of the insurance market. Originality. The article firstly

A design of mathematical modelling for the mudharabah scheme in shariah insurance

Science.gov (United States)

Cahyandari, R.; Mayaningsih, D.; Sukono

2017-01-01

Indonesian Shariah Insurance Association (AASI) believes that 2014 is the year of Indonesian Shariah insurance, since its growth was above the conventional insurance. In December 2013, 43% growth was recorded for shariah insurance, while the conventional insurance was only hit 20%. This means that shariah insurance has tremendous potential to remain growing in the future. In addition, the growth can be predicted from the number of conventional insurance companies who open sharia division, along with the development of Islamic banking development which automatically demand the role of shariah insurance to protect assets and banking transactions. The development of shariah insurance should be accompanied by the development of premium fund management mechanism, in order to create innovation on shariah insurance products which beneficial for the society. The development of premium fund management model shows a positive progress through the emergence of Mudharabah, Wakala, Hybrid (Mudharabah-Wakala), and Wakala-Waqf. However, ‘model’ term that referred in this paper is regarded as an operational model in form of a scheme of management mechanism. Therefore, this paper will describe a mathematical modeling for premium fund management scheme, especially for Mudharabah concept. Mathematical modeling is required for an analysis process that can be used to predict risks that could be faced by a company in the future, so that the company could take a precautionary policy to minimize those risks.

Captive insurance: is it the right choice for your insurance exposures?

Science.gov (United States)

Frese, Richard C

2015-12-01

Potential benefits of a captive insurance company include: Broader coverage Improved cash flow and stability. Direct access to reinsurance markets. Tax advantages. Better handling and control of risk management and claims. Potential drawbacks and challenges include: Startup capitalization. Underwriting losses. Administration and commitment.

Risk transfer solutions for the insurance industry

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Njegomir Vladimir

2009-01-01

Full Text Available The paper focuses on the traditional and alternative mechanisms for insurance risk transfer that are available to global as well as to domestic insurance companies. The findings suggest that traditional insurance risk transfer solutions available to insurance industry nowadays will be predominant in the foreseeable future but the increasing role of alternative solutions is to be expected as the complementary rather than supplementary solution to traditional transfer. Additionally, findings suggest that it is reasonable to expect that future development of risk transfer solutions in Serbia will follow the path that has been passed by global insurance industry.

76 FR 416 - Surety Companies Acceptable on Federal Bonds Change in NAIC Number and State of Incorporation...

Science.gov (United States)

2011-01-04

... NAIC Number and State of Incorporation; Westchester Fire Insurance Company AGENCY: Financial Management... hereby given that effective January 1, 2011, Westchester Fire Insurance Company's NAIC has changed to 10030 due to its merger with ACE Indemnity Insurance Company. In addition due to the merger its state of...

Social responsability of the Bogota companies and their relation to employement and poverty

Directory of Open Access Journals (Sweden)

Adriana Patricia López Velázquez

2006-07-01

Full Text Available This article shows the main results , conclusions and recommendations from two researches about Entrepreneurial Social Responsibility (RSE, and its relation to poverty and employment in the specific case of Bogotá. These results were obtained from a field work and literature revision about RSE, both nationally and internationally. It is worth noting that most of the Bogota companies do not know or do not have any interest in RSE, for them RSE implies high costs and little economic revenue. Out of the total of companies, only 1,3% have participated in programs to reduce poverly applied by district administration, where the common points of public and private investmetl have been education, nutrition and housing programs. The companies that include RSE programs for their workers consider it positive, because the work environment improved and the employees' productivity increased, which contributed for the welfare of both parties.

Insurance risk with variable number of policies

NARCIS (Netherlands)

Adan, I.J.B.F.; Kulkarni, V.G.

2008-01-01

In this article we consider an insurance company selling life insurance policies. New policies are sold at random points in time, and each policy stays active for an exponential amount of time with rate µ, during which the policyholder pays premiums continuously at rate r. When the policy expires,

Assessment of the level of development of insurance of agricultural enterprises in Ukrainian regions

Directory of Open Access Journals (Sweden)

Ostapenko Olga N.

2013-03-01

Full Text Available The article considers application of the taxonomic analysis for identifying the level of development of insurance of agricultural enterprises (in case of its voluntary form in Ukrainian regions through calculation of the taxonomy ratio (development level ratio. On the basis of the conducted study the author identifies those regions of Ukraine where the level of development of insurance of agricultural enterprises, in particular, their agricultural products, is characterised with positive dynamics and those regions where the tariff policy of insurance companies needs to be reconsidered. That is why the article justifies a necessity of replacing the existing tariff policy of insurance companies with a more suitable for modern conditions of farming with the aim to ensure, on the one hand, organisation of efficient management of an insurance company and, on the other hand, taking into account interests and requirements of agricultural enterprises, which are reflected in insurance tariffs.

How useful are Swiss flood insurance data for flood vulnerability assessments?

Science.gov (United States)

Röthlisberger, Veronika; Bernet, Daniel; Zischg, Andreas; Keiler, Margreth

2015-04-01

The databases of Swiss flood insurance companies build a valuable but to date rarely used source of information on physical flood vulnerability. Detailed insights into the Swiss flood insurance system are crucial for using the full potential of the different databases for research on flood vulnerability. Insurance against floods in Switzerland is a federal system, the modalities are manly regulated on cantonal level. However there are some common principles that apply throughout Switzerland. First of all coverage against floods (and other particular natural hazards) is an integral part of every fire insurance policy for buildings or contents. This coupling of insurance as well as the statutory obligation to insure buildings in most of the cantons and movables in some of the cantons lead to a very high penetration. Second, in case of damage, the reinstatement costs (value as new) are compensated and third there are no (or little) deductible and co-pay. High penetration and the fact that the compensations represent a large share of the direct, tangible losses of the individual policy holders make the databases of the flood insurance companies a comprehensive and therefore valuable data source for flood vulnerability research. Insurance companies not only store electronically data about losses (typically date, amount of claims payment, cause of damage, identity of the insured object or policyholder) but also about insured objects. For insured objects the (insured) value and the details on the policy and its holder are the main feature to record. On buildings the insurance companies usually computerize additional information such as location, volume, year of construction or purpose of use. For the 19 (of total 26) cantons with a cantonal monopoly insurer the data of these insurance establishments have the additional value to represent (almost) the entire building stock of the respective canton. Spatial referenced insurance data can be used for many aspects of

METHODICAL BASES OF MANAGEMENT OF INSURANCE PORTFOLIO

Directory of Open Access Journals (Sweden)

Serdechna Yulia

2018-01-01

Full Text Available Introduction. Despite the considerable arsenal of developments in the issues of assessing the management of the insurance portfolio remains unresolved. In order to detail, specify and further systematize the indicators for the indicated evaluation, the publications of scientists are analyzed. The purpose of the study is to analyze existing methods by which it is possible to formulate and manage the insurance portfolio in order to achieve its balance, which will contribute to ensuring the financial reliability of the insurance company. Results. The description of the essence of the concept of “management of insurance portfolio”, as the application of actuarial methods and techniques to the combination of various insurance risks offered for insurance or are already part of the insurance portfolio, allowing to adjust the size and structure of the portfolio in order to ensure its financial stability, achievement the maximum level of income of an insurance organization, preservation of the value of its equity and financial security of insurance liabilities. It is determined that the main methods by which the insurer’s insurance portfolio can be formed and managed is the selection of risks; reinsurance operations that ensure diversification of risks; formation and placement of insurance reserves, which form the financial basis of insurance activities. The method of managing an insurance portfolio, which can be both active and passive, is considered. Conclusions. It is determined that the insurance portfolio is the basis on which all the activities of the insurer are based and which determines its financial stability. The combination of methods and technologies applied to the insurance portfolio is a management method that can be both active and passive and has a number of specific methods through which the insurer’s insurance portfolio can be formed and managed. It is substantiated that each insurance company aims to form an efficient and

Marginal conditions for the insurance against fire events in waste incinerators; Randbedingungen fuer die Versicherung gegen Brandereignisse in Abfallverbrennungsanlagen

Energy Technology Data Exchange (ETDEWEB)

Weschenbach, Harry [VMD-Prinas GmbH, Essen (Germany)

2012-11-01

Insurance companies represent not only damage compensation systems, but also a worldwide financial services operating compensation of damages against the insurance premium. The insurance industry has adapted itself to the industrial development. The comprehensive risk management was supplemented increasingly. Especially in the case of damage prevention and fire fighting, the insurance industry falls back on the comprehensive risk management. The fire insurance companies have learned to evaluate fire risks more technically and economically and to impact the design concepts of fire fighting. Under these conditions, in the case of major industrial risks the fire insurance companies are willing to provide an extensive insurance coverage.

Health insurance for Users and other Associated Members of the Personnel

CERN Multimedia

2015-01-01

A new health insurance option for Associated Members of the Personnel (including users): Allianz Worldwide Care Healthcare Plan for CERN MPAs.   Based on a survey conducted by the Users’ Office and a request by the Advisory Committee of CERN Users (ACCU), CERN has looked into health insurance products on the market and has identified a health insurance for MPAs and their accompanying family members which covers the financial consequences of illness and accidents and which is deemed adequate in CERN’s Host States. This insurance may be a useful option for MPAs who may not have adequate coverage in place from their home institution or who choose not to or cannot enrol in the CERN Health Insurance Scheme (CHIS). For the time being the insurance company can only offer limited duration policies to MPAs. We hope that this restriction can be removed in the future. The health insurance is offered by the insurance company Allianz WorldWide Care for a monthly fee of 139 euros per insure...

75 FR 43557 - Wire Products Company, Inc., Including Workers Whose Unemployment Insurance (UI) Wages Are Paid...

Science.gov (United States)

2010-07-26

... Products, Inc., Cleveland, OH; Amended Certification Regarding Eligibility To Apply for Worker Adjustment... Hanger Products, Inc. Based on these findings, the Department is amending this certification to include... DEPARTMENT OF LABOR Employment and Training Administration [TA-W-72,711] Wire Products Company...

Scientific relevance of Swiss property insurance data on flood risks and losses

Science.gov (United States)

Röthlisberger, Veronika; Bernet, Daniel; Keiler, Margreth

2015-04-01

The databases of Swiss flood insurance companies build a valuable but to date rarely used source of information for flood risk research. Detailed insights into the Swiss flood insurance system are crucial to evaluate the potential of the different databases for scientific analysis. Even though the flood insurance system modalities are mainly regulated on cantonal level there are some common principles that apply throughout Switzerland. First of all coverage against floods (and other particular natural hazards) is an integral part of every fire insurance policy for buildings or contents in Switzerland. This coupling of insurance as well as the statutory obligation to insure buildings in most of the cantons and movables in some of the cantons lead to a very high penetration. Second, in case of damage, the reinstatement costs (value as new) are compensated and third there are no (or little) deductible and co-pay. Thus the different datasets of the flood insurance companies would allow a very comprehensive data analysis. Moreover, insurance companies not only store electronically data about losses (typically date, amount of claims payment, cause of damage, identity of the insured object or policyholder) but also about insured objects. For insured objects the (insured) value and the details on the policy and its holder are the main feature to record. On buildings the insurance companies usually computerize additional information such as location, volume, year of construction or purpose of use. For the 19 (of total 26) cantons with a cantonal monopoly insurer the data of these insurance establishments have the additional value to represent (almost) the entire building stock of the respective canton. However, scientists face a wide range of the opportunities and challenges when using insurance data for flood research. The origin of flood insurance data implies that they are not generated for research but for business management. The presentation will highlighted pro and

Slovenian national health insurance card: the next step.

Science.gov (United States)

Kalin, T; Kandus, G; Trcek, D; Zupan, B

1999-01-01

The Slovenian national health insurance company started a full-scale deployment of the insurance smart card that is at the present used for insurance data and identification purpose only. There is ample capacity on the cards that were selected, to contain much more data than needed for the purely administrative and charging purposes. There are plans to include some basic medical information, donor information, etc. On the other hand, there are no firm plans to use the security infrastructure and the extensive network, connecting the insurance company with the more than 200 self service terminals positioned at the medical facilities through the country to build an integrated medical information system that would be very beneficial to the patients and the medical community. This paper is proposing some possible future developments and further discusses on the security issues involved with such countrywide medical information system.

Application of Actuarial Modelling in Insurance Industry

OpenAIRE

Burcã Ana-Maria; Bãtrînca Ghiorghe

2011-01-01

In insurance industry, the financial stability of insurance companies represents an issue of vital importance. In order to maintain the financial stability and meet minimum regulatory requirements, actuaries apply actuarial modeling. Modeling has been at the center of actuarial science and of all the sciences from the beginning of their journey. In insurance industry, actuarial modeling creates a framework that allows actuaries to identify, understand, quantify and manage a wide range of risk...

Perceptions of Trade Credit Insurance Value : Malaysian Evidence

OpenAIRE

Wong, Benny Weng Hong

2013-01-01

Trade credit insurance (“TCI”) is a subject unfamiliar to most companies in Malaysia despite being around for more than a decade. This is not surprising considering the penetration rate of only 3.84% in Malaysia. The main aim of this paper is to examine the Malaysian firm‟s perceptions of TCI value and the TCI value drivers to help credit insurance companies uncover the motivational factors according to firm size and profit margin in order to improve the penetration rate in Malaysia. Furtherm...

Disability Insurance and Healthcare Reform: Evidence from Massachusetts

OpenAIRE

Nicole Maestas; Kathleen J. Mullen; Alexander Strand

2013-01-01

As health insurance becomes available outside of the employment relationship as a result of the Affordable Care Act (ACA), the cost of applying for Social Security Disability Insurance (SSDI)—potentially going without health insurance coverage during a waiting period totaling 29 months from disability onset—will decline for many people with employer-sponsored health insurance. At the same time, the value of SSDI and Supplemental Security Income (SSI) participation will decline for individuals...

Default risk, bankruptcy procedures and the market value of life insurance liabilities

NARCIS (Netherlands)

Chen, A.; Suchanecki, M.

2007-01-01

The topic of insolvency risk in connection with life insurance companies has recently attracted a great deal of attention. In this paper, the question is investigated of how the values of the equity and of the liability of a life insurance company are affected by the default risk and the choice of

Expanding insurance coverage through tax credits, consumer choice, and market enhancements: the American Medical Association proposal for health insurance reform.

Science.gov (United States)

Palmisano, Donald J; Emmons, David W; Wozniak, Gregory D

2004-05-12

Recent reports showing an increase in the number of uninsured individuals in the United States have given heightened attention to increasing health insurance coverage. The American Medical Association (AMA) has proposed a system of tax credits for the purchase of individually owned health insurance and enhancements to individual and group health insurance markets as a means of expanding coverage. Individually owned insurance would enable people to maintain coverage without disruption to existing patient-physician relationships, regardless of changes in employers or in work status. The AMA's plan would empower individuals to choose their health plan and give patients and their physicians more control over health care choices. Employers could continue to offer employment-based coverage, but employees would not be limited to the health plans offered by their employer. With a tax credit large enough to make coverage affordable and the ability to choose their own coverage, consumers would dramatically transform the individual and group health insurance markets. Health insurers would respond to the demands of individual consumers and be more cautious about increasing premiums. Insurers would also tailor benefit packages and develop new forms of coverage to better match the preferences of individuals and families. The AMA supports the development of new health insurance markets through legislative and regulatory changes to foster a wider array of high-quality, affordable plans.

[Quantified self movement--the new mantra of life insurance companies].

Science.gov (United States)

Becher, St

2016-06-01

Wearables are small personal minicomputers that register biometric data. In such a way, the insurance industry hopes to create new sales opportunities and products, and simplify underwriting. Lower premiums will promote the use of wearables. The related possibilities and unanswered questions are discussed in this article. Utilisation of big data offers the insurance industry a range of new opportunities. The benefit must be proven in the future, however.

Entrepreneurial Moral Hazard in Income Insurance

NARCIS (Netherlands)

Ejrnaes, Mette; Hochguertel, Stefan

2008-01-01

We study risk behavior of Danish self-employed entrepreneurs, whose income risk may be driven by both exogenous factors and effort choice (moral hazard). Partial insurance is available through voluntary unemployment insurance (UI). Additional incentives to sign insurance contracts stem from a

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.

NEWS : A model for the evaluation of non-life insurance companies

NARCIS (Netherlands)

1997-01-01

This paper describes a model which can be used by the Dutch insurance supervisor to determine the priority a nan-life insurer should have for further examination. This model combines a traditional statistical technique (an ordered legit model) with artificial intelligence techniques (a neural

Modelling in life insurance a management perspective

CERN Document Server

Norberg, Ragnar; Planchet, Frédéric

2016-01-01

Focussing on life insurance and pensions, this book addresses various aspects of modelling in modern insurance: insurance liabilities; asset-liability management; securitization, hedging, and investment strategies. With contributions from internationally renowned academics in actuarial science, finance, and management science and key people in major life insurance and reinsurance companies, there is expert coverage of a wide range of topics, for example: models in life insurance and their roles in decision making; an account of the contemporary history of insurance and life insurance mathematics; choice, calibration, and evaluation of models; documentation and quality checks of data; new insurance regulations and accounting rules; cash flow projection models; economic scenario generators; model uncertainty and model risk; model-based decision-making at line management level; models and behaviour of stakeholders. With author profiles ranging from highly specialized model builders to decision makers at chief ex...

CAPTIVE AS AN INSURANCE FORMULA FOR RISK MANAGEMENT: ADVANTAGES AND DISADVANTAGES

Directory of Open Access Journals (Sweden)

R. Holly

2017-04-01

Full Text Available This article introduces subject of an insurance captive entity, with focus on how it could be used as insurance formula for risk management. Captive might be the most appropriate insurance formula for risk management. However, the level of achieved success depends on many factors.Insurance captivesare understood as entities which are formed and owned by companies mostly for the purpose of insuring own risks (pure captive or single parent captive. More and more often captives are also formed by a group of companies (group captives to insure their properties and liabilities towards 3rd parties. Captives are widely used by many companies nowadays. However, many of them,are used solely for a purpose of a risk cession and premium transfer, with an intention to use captivesmore as a profit center in a low taxation country rather than for the purpose of risk management (i.e. a more appropriate role for captive would be to support their owners in enterprise risk management - ERM. This article touches on why captives are not used to their full potential. It may be toochallenging for many decision makers to embrace on captives as risk management formula and extend captives' roles to utilize all possible advantages resulting from owning a captive. Captive can deliver risk management in a more comprehensive way than most commercial insurers on the market. The article also presents advantages and disadvantages of owning an insurance captive.

A Regional Analysis of U.S. Insurance Reimbursement Guidelines for Massage Therapy.

Science.gov (United States)

Miccio, Robin S; Cowen, Virginia S

2018-03-01

Massage techniques fall within the scope of many different health care providers. Physical therapists, occupational therapists, and chiropractors receive insurance reimbursement for health care services, including massage. Although many patients pay out of pocket for massage services, it is unclear how the insurance company reimbursement policies factor provider qualifications into coverage. This project examined regional insurance reimbursement guidelines for massage therapy in relation to the role of the provider of massage services. A qualitative content analysis was used to explore guidelines for 26 health insurance policies across seven US companies providing coverage in the northeastern United States. Publicly available information relevant to massage was obtained from insurance company websites and extracted into a dataset for thematic analysis. Data obtained included practice guidelines, techniques, and provider requirements. Information from the dataset was coded and analyzed using descriptive statistics. Of the policies reviewed, 23% explicitly stated massage treatments were limited to 15-minute increments, 19% covered massage as one part of a comprehensive rehabilitation plan, and 27% required physician prescription. Massage techniques mentioned as qualifying for reimbursement included: Swedish, manual lymphatic drainage, mobilization/manipulation, myofascial release, and traction. Chiropractors, physical therapists, and occupational therapists could directly bill for massage. Massage therapists were specifically excluded as covered providers for seven (27%) policies. Although research supports massage for the treatment of a variety of conditions, the provider type has not been separately addressed. The reviewed policies that served the Northeastern states explicitly stated massage therapists could not bill insurance companies directly. The same insurance companies examined reimbursement for massage therapists in their western U.S. state policies. Other

STRUCTURE AND TRENDS OF THE INSURANCE SECTOR IN ROMANIA

Directory of Open Access Journals (Sweden)

MIRELA MONEA

2015-12-01

Full Text Available The aim of the paper is to present the structure of the insurance sector from Romanian economy and the main trends in this sector in last years, based on the most important aspects such as share of foreign capital in this sector, gross written premiums, and indemnity payments, both from life and general insurance, density and penetration degree of the insurance activity, the results registered by the insurance companies

Use of Neural Networks in Risk Assessment and Optimization of Insurance Cover in Innovative Enterprises

Directory of Open Access Journals (Sweden)

Pukała Ryszard

2016-09-01

Full Text Available The scientific objective of the paper is to present the findings of a study into the use of artificial neural networks in quantifying activity related risks of an innovative enterprise and to optimize its insurance cover in order to minimize the probable financial losses whenever they materialize. The Kohonen network involving the activation of 51 input variables was applied in the study. The outcomes of the stimulation for the given set of variables made it possible to determine the probability of a threat occurring in the classes. The results of the analysis were used to prepare an optimal insurance cover for the activities of the innovative company. The research findings are suitable for use in risk theory as well as in issues relating to entrepreneurship and insurance. The analytical device employed can also be put to practical use as a support tool in corporate risk management.

Consumer evaluation of complaint handling in the Dutch health insurance market.

Science.gov (United States)

Wendel, Sonja; de Jong, Judith D; Curfs, Emile C

2011-11-15

How companies deal with complaints is a particularly challenging aspect in managing the quality of their service. In this study we test the direct and relative effects of service quality dimensions on consumer complaint satisfaction evaluations and trust in a company in the Dutch health insurance market. A cross-sectional survey design was used. Survey data of 150 members of a Dutch insurance panel who lodged a complaint at their healthcare insurer within the past 12 months were surveyed. The data were collected using a questionnaire containing validated multi-item measures. These measures assess the service quality dimensions consisting of functional quality and technical quality and consumer complaint satisfaction evaluations consisting of complaint satisfaction and overall satisfaction with the company after complaint handling. Respondents' trust in a company after complaint handling was also measured. Using factor analysis, reliability and validity of the measures were assessed. Regression analysis was used to examine the relationships between these variables. Overall, results confirm the hypothesized direct and relative effects between the service quality dimensions and consumer complaint satisfaction evaluations and trust in the company. No support was found for the effect of technical quality on overall satisfaction with the company. This outcome might be driven by the context of our study; namely, consumers get in touch with a company to resolve a specific problem and therefore might focus more on complaint satisfaction and less on overall satisfaction with the company. Overall, the model we present is valid in the context of the Dutch health insurance market. Management is able to increase consumers' complaint satisfaction, overall satisfaction with the company, and trust in the company by improving elements of functional and technical quality. Furthermore, we show that functional and technical quality do not influence consumer satisfaction evaluations and

Consumer evaluation of complaint handling in the Dutch health insurance market

Directory of Open Access Journals (Sweden)

Wendel Sonja

2011-11-01

Full Text Available Abstract Background How companies deal with complaints is a particularly challenging aspect in managing the quality of their service. In this study we test the direct and relative effects of service quality dimensions on consumer complaint satisfaction evaluations and trust in a company in the Dutch health insurance market. Methods A cross-sectional survey design was used. Survey data of 150 members of a Dutch insurance panel who lodged a complaint at their healthcare insurer within the past 12 months were surveyed. The data were collected using a questionnaire containing validated multi-item measures. These measures assess the service quality dimensions consisting of functional quality and technical quality and consumer complaint satisfaction evaluations consisting of complaint satisfaction and overall satisfaction with the company after complaint handling. Respondents' trust in a company after complaint handling was also measured. Using factor analysis, reliability and validity of the measures were assessed. Regression analysis was used to examine the relationships between these variables. Results Overall, results confirm the hypothesized direct and relative effects between the service quality dimensions and consumer complaint satisfaction evaluations and trust in the company. No support was found for the effect of technical quality on overall satisfaction with the company. This outcome might be driven by the context of our study; namely, consumers get in touch with a company to resolve a specific problem and therefore might focus more on complaint satisfaction and less on overall satisfaction with the company. Conclusions Overall, the model we present is valid in the context of the Dutch health insurance market. Management is able to increase consumers' complaint satisfaction, overall satisfaction with the company, and trust in the company by improving elements of functional and technical quality. Furthermore, we show that functional and

Consumer evaluation of complaint handling in the Dutch health insurance market

Science.gov (United States)

2011-01-01

Background How companies deal with complaints is a particularly challenging aspect in managing the quality of their service. In this study we test the direct and relative effects of service quality dimensions on consumer complaint satisfaction evaluations and trust in a company in the Dutch health insurance market. Methods A cross-sectional survey design was used. Survey data of 150 members of a Dutch insurance panel who lodged a complaint at their healthcare insurer within the past 12 months were surveyed. The data were collected using a questionnaire containing validated multi-item measures. These measures assess the service quality dimensions consisting of functional quality and technical quality and consumer complaint satisfaction evaluations consisting of complaint satisfaction and overall satisfaction with the company after complaint handling. Respondents' trust in a company after complaint handling was also measured. Using factor analysis, reliability and validity of the measures were assessed. Regression analysis was used to examine the relationships between these variables. Results Overall, results confirm the hypothesized direct and relative effects between the service quality dimensions and consumer complaint satisfaction evaluations and trust in the company. No support was found for the effect of technical quality on overall satisfaction with the company. This outcome might be driven by the context of our study; namely, consumers get in touch with a company to resolve a specific problem and therefore might focus more on complaint satisfaction and less on overall satisfaction with the company. Conclusions Overall, the model we present is valid in the context of the Dutch health insurance market. Management is able to increase consumers' complaint satisfaction, overall satisfaction with the company, and trust in the company by improving elements of functional and technical quality. Furthermore, we show that functional and technical quality do not

POLICY, PROTECTION OF POLICYHOLDER, AND LIFE INSURANCE EDUCATION TO THE SOCIETY

Directory of Open Access Journals (Sweden)

Hana Sri Juni Kartika

2014-03-01

Full Text Available Changes towards betterment of policyholder protection is not proportional to the growth of life insurance company. Policyholders encounter difficulties in asserting their rights when their life insurance companyis in financial straits and served with bankruptcy petition. Life insurance company and regulator have tore-regulate in detail every possible provision contained in a life insurance and ensure that each clausehas been incorporated in the policy, to protect policyholder. The society must be educated to the rightsand responsibility of the policyholder and the insurer, including the protection accorded to policyholders when the life insurance company is on the edge of financial distress or bankruptcy. Peningkatan perlindungan bagi pemegang polis belumlah memadai jika dibandingkan dengan pertumbuhan industri perasuransian. Pemegang polis menghadapi kesulitan untuk mendapatkan haknya ketika perusahaan asuransi menghadapi kondisi keuangan yang tidak sehat dan kebangkrutan. Perusahaan asuransi dan pembuat undang-undang harus mengatur kembali secara rinci semua klausul yang diperlukan dan memastikan bahwa klausul tersebut sudah termuat dalam polis asuransi, khususnyahal-hal yang mengatur mengenai perlindungan bagi pemegang polis asuransi jiwa. Masyarakat perlu diedukasi tentang hak dan tanggungjawab dari pemegang polis dan perusahaan asuransi selaku penjamin, termasuk mengenai perlindungan pemegang polis ketika perusahaan asuransi jiwa menghadapi masalah keuangan atau kebangkrutan.

[Workplace health promotion in Poland in 2015 - Diagnosis based on a representative survey of companies employing more than 50 employees].

Science.gov (United States)

Puchalski, Krzysztof; Korzeniowska, Elżbieta

2017-03-24

The workplace health promotion (WHP) activity of enterprises in Poland was examined. The findings referred to how many companies implemented non-obligatory actions for health and what actions were taken, what were the reasons and obstacles in the implementation, whether companies evaluated their activity, how they motivated staff to WHP, and whether the size and economic standing differentiated their activity. Representative survey, consisted of computer assisted telephone interviews with delegates of the boards of 1000 companies employing > 50 employees, held in November-December 2015. Every second company undertook voluntary actions for workers health. Most often they offered medical care, supported physical activity and took care about the work environment in a higher range than required by binding regulations. They promoted health to build company's good image, improve productivity and reduce costs. The tradition of WHP in the company, attitudes of employers and intention to boost the vitality of employees also played a role . Despite good financial standing of companies, the shortage of funds was the main barrier in the implementation of WHP activities. Other impediments, such as lack of sufficient state incentives, workload of the management staff, lack of knowledge about WHP benefits and lack of good pro-health services were observed as well. Few companies motivated employees to WHP and carried out its evaluation. The development of WHP requires dissemination of its benefits among employers, human resources and safety personnel trainings in WHP management, implementation of the system of relief and prestigious awards for active companies, increase in the number and scope of research works on WHP conditions and effectiveness. Crucial herein is the role of the state in cooperation with other major WHP actors. Med Pr 2017;68(2):229-246. This work is available in Open Access model and licensed under a CC BY-NC 3.0 PL license.

Antiplatelet Therapy and Clinical Outcomes Following Myocardial Infarction Among Patients in a U.S. Employer-Based Insurance Database.

Science.gov (United States)

Patel, Mehul D; Wu, David; Chase, Monica Reed; Mavros, Panagiotis; Heithoff, Kim; Hanson, Mary E; Simpson, Ross J

2017-06-01

Estimates of residual cardiovascular risks among patients who have experienced a recent acute myocardial infarction (MI) are predominantly derived from secondary prevention trial populations, patient registries, and population-based cohorts. To generate real-world evidence of antiplatelet treatment and recurrent events following MI in patients on antiplatelet treatment among commercial, employer-based insured patients in a large administrative database. This was a retrospective cohort claims database study using the Truven Health MarketScan Commercial Claims and Encounters and Medicare Supplemental databases between 2007-2011. Patients with an acute MI hospitalization with a discharge date between 2008 and 2010 were included. Excluded were those patients with documentation of stroke, transient ischemic attack (TIA), or severe bleeding at or before index hospitalization and with concomitant use of anticoagulant therapy following index hospitalization. Patients treated with clopidogrel following the index MI hospitalization were followed up to 1 year for repeat MI, stroke, and coronary revascularization. Among 33,943 post-MI continuous clopidogrel users without history of stroke, TIA, or bleeding, 22% had diabetes, whereas angina and renal impairment were less prevalent (5% and 7%, respectively). Over the 1-year follow-up, 2.4% experienced a repeat MI or stroke, and 8.2% underwent coronary revascularization. Angina, diabetes, and renal impairment were associated with elevated 1-year risk of repeat MI or stroke. This study suggests that there is residual cardiovascular risk, although relatively low, in an insured, secondary prevention population on antiplatelet treatment following an MI. In patients with MI, identifying angina, diabetes, and renal impairment may aid risk stratification and guide the effective management of these higher-risk patients. Funding for this research was provided by Merck & Co. Although Merck & Co. formally reviewed a penultimate draft, the

20 CFR 617.58 - Unemployment insurance.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Unemployment insurance. 617.58 Section 617.58 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR TRADE ADJUSTMENT ASSISTANCE... Unemployment insurance. Unemployment insurance payable to an adversely affected worker shall not be denied or...

Korean immigrants don't buy health insurance: The influences of culture on self-employed Korean immigrants focusing on structure and functions of social networks.

Science.gov (United States)

Oh, Hyunsung; Jeong, Chung Hyeon

2017-10-01

Culture has been pinpointed as a culprit of disparities in health insurance coverage between Korean immigrants and other ethnic groups. This study explored specific mechanisms by which culture influences a decision to buy health insurance among self-employed Korean immigrants living in ethnic enclaves by focusing on the structure and functions of social networks. Between March and June 2015, we recruited 24 Korean immigrant adults (aged 18 or older) who identified as self-employed and being uninsured for substantial periods before 2014 in Southern California. Interviews were conducted in Korean, and Korean transcripts were translated into English by two bilingual interpreters. Using constant comparative analysis, we explored why participants didn't purchase health insurance after migrating to the United States and how their social networks influenced their decisions whether to purchase health insurance. Results indicate Korean immigrants sought health information from dense and homogeneous social networks whose members are mostly Korean immigrants embedded in similar social contexts. Social learning was frequently observed when people sought health care while uninsured. However, respondents often noted social ties do not provide helpful information about benefits, costs, and ways to use health insurance. "Koreans don't buy health insurance" was a dominant social norm reported by most respondents. Findings indicate that social learning and normative influence occur inside social networks and these mechanisms seemingly prevent purchasing of health insurance. In addition to the individual mandate in the Patient Protection and Affordable Care Act, more targeted approaches that consider the structure and functions of social networks could improve the public health of Korean immigrants. Copyright © 2017 Elsevier Ltd. All rights reserved.

Willingness to Pay for Insurance in Denmark

DEFF Research Database (Denmark)

Hansen, Jan V.; Højbjerg Jacobsen, Rasmus; Lau, Morten I.

We estimate the maximum amount that Danish households are willing to pay for three different types of insurance: auto, home and house insurance. We use a unique combination of claims data from the largest private insurance company in Denmark, measures of individual risk attitudes and discount rates...... possible states of nature, where all uncertainty is realized in the initial period and any loss incurred by an accident is subtracted from initial wealth. The estimated willingness to pay is based on annual claims and should thus be considered as an annual premium. Since there is some uncertainty about...... of the insurance claims....

Methods for estimating the labour force insured by the Ontario Workplace Safety and Insurance Board: 1990-2000.

Science.gov (United States)

Smith, Peter M; Mustard, Cameron A; Payne, Jennifer I

2004-01-01

This paper presents a methodology for estimating the size and composition of the Ontario labour force eligible for coverage under the Ontario Workplace Safety & Insurance Act (WSIA). Using customized tabulations from Statistics Canada's Labour Force Survey (LFS), we made adjustments for self-employment, unemployment, part-time employment and employment in specific industrial sectors excluded from insurance coverage under the WSIA. Each adjustment to the LFS reduced the estimates of the insured labour force relative to the total Ontario labour force. These estimates were then developed for major occupational and industrial groups stratified by gender. Additional estimates created to test assumptions used in the methodology produced similar results. The methods described in this paper advance those previously used to estimate the insured labour force, providing researchers with a useful tool to describe trends in the rate of injury across differing occupational, industrial and gender groups in Ontario.

Evaluation of the harmonization process of the Czech insurance market with the single insurance market of the EU

Directory of Open Access Journals (Sweden)

Viktória Čejková

2004-01-01

Full Text Available For the Czech insurance industry, it has been 13 years since the passage of the Insurance Act in 1991, which did away with the monopoly and allowed competition in this business sector. In our evaluation, we can state that the positives outweigh the negatives. A relatively high pace of growth in total premiums written was achieved and the ratio of premiums written to GDP increased, up to 4,0% in 2002. In comparison with EU countries, the Czech insurance market is behind in 2 global indicators: the ratio of premiums written to GDP and the share of life insurance in total premiums written. The Czech insurance market must count on greater competition from foreign insurance companies, as the Czech Republic was May 1, 2004, accepted as a member of the European Union.

Extending the Scope of Services in the Insurance Industry

OpenAIRE

von Watzdorf, Stephan; Gebauer, Heiko; Staake, Thorsten; Fleisch, Elgar

2011-01-01

The study at hand explores the influence of value-added services offered in addition to a motor insurance product on the customer's preference structure. It addresses the need of insurance companies to extend their core business with different types of supplementary services. A choice-based conjoint analysis is conducted which considers the price for the insurance product, the insurance franchise, the non-claims bonus as well as post-accident services and value-added services. Based on the re...

Life and health insurance industry investments in fast food.

Science.gov (United States)

Mohan, Arun V; McCormick, Danny; Woolhandler, Steffie; Himmelstein, David U; Boyd, J Wesley

2010-06-01

Previous research on health and life insurers' financial investments has highlighted the tension between profit maximization and the public good. We ascertained health and life insurance firms' holdings in the fast food industry, an industry that is increasingly understood to negatively impact public health. Insurers own $1.88 billion of stock in the 5 leading fast food companies. We argue that insurers ought to be held to a higher standard of corporate responsibility, and we offer potential solutions.

Features of insurance evolution in the Internet expansion

Directory of Open Access Journals (Sweden)

A.Yu. Polchanov

2015-03-01

Full Text Available The article investigates the features of the development of insurance in the Internet expansion. Increasing the number of mobile subscribers, Internet users and social networking, as well as owners of smartphones changes the decision-making process on insurance, marketing of insurance services, the mechanism of interaction between participants of insurance relations. As a result, insurance companies and intermediaries should adjust strategies and innovate to maintain their competitive advantage. The research examined the functioning of the foreign experience of P2P insurance (for example «Friendsurance», microinsurance using mobile payment instruments (for example «Kilimo Salama», cyber-risks insurance (for example «AIG», and the possibility of using digital currencies in insurance in particular Bitcoin. According to the results of investigation the question asked to clarify a number of basic insurance terms, including money payment, the order of payment of insurance premiums, the insurance event and risk, the insurance intermediary.

[Professional strategy and institutional isomorphism: the dental health insurance industry in Brazil].

Science.gov (United States)

Vieira, Cristine; Costa, Nilson do Rosário

2008-01-01

This article analyzes the organizational model of the dental health industry. The main organizational leaders in this industry are the professional cooperatives and group dental insurance companies. The theoretical basis of the article is the organizational theory developed by Di Maggio and Powell. The dental health industry consists of a great number of small and very dynamic companies, however an expressive part of clients and profit are concentrated in a few large companies. The results show that the industry has expanded the number of clients after the creation of the National Health Insurance Agency. The regulation regime has forced institutional changes in the firms with regard to the market entry, permanence or exit patterns. There was no evidence that the regulatory rules have interfered with the development and financial conditions of the industry. The average profitability of the sector, especially among the group dental insurance companies, is extremely high.

Capital Allocation for Insurance Companies: Issues and Methods

DEFF Research Database (Denmark)

Nielsen, Jens Perch; Poulsen, Rolf; Mumford, Paul

2010-01-01

to a close cooperation between actuarial and financial departments with a particular view to the ability of the Actuary to separate financial risk from insurance risk and the ability of the finance department to hedge the right amount of their complicated financial risk at a good price. We also introduce...

Environmental Pollution Liability Insurance in China: In Need of Strong Government Backing

NARCIS (Netherlands)

Feng, Y.; Mol, A.P.J.; Lu, Y.; He, G.; Koppen, van C.S.A.

2014-01-01

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

The Choice of Law Issues in Resolution of Marine Insurance Disputes in Indonesia

Directory of Open Access Journals (Sweden)

Marnia Rani

2018-01-01

Full Text Available Marine insurance business in Indonesia such as marine hull and machinery insurance and cargo insurance are subject to applicable laws and practices in the United Kingdom. Although Indonesia already has marine insurance law which is regulated in Wetboek van Koophandel, in fact, this busisness subject to English Law and Practice. The choice of law are listed in the insurance policy. Submission of the law and practice in UK raises the issue for the parties in the insurance contract, between Insurer and Insured. Although the principle of contract is a law for those who make it, but in practice there is a problem. The problem is especially when there is a dispute between Insurer and Insured. When disputes occur, each party has a different opinion regarding which country's laws may be applied to resolve disputes between Insurance Companies and Policyholders (the proper law of the contract, the applicable law. When referring to the provisions contained in the marine insurance policy which is a contract of the parties, it should be settled under the legal system and practice of law which is in force in the United Kingdom, because the choice of law is written in the contract. However, the problem arises again, whether the choice of law in the insurance contract can be applied, if the insurance company as a legal entity is established under Indonesian law and domiciled in Indonesia, as well as the policy holders who are Indonesian. On the basis of such matters, this paper intended to elaborate the principles of international civil law in Indonesia regarding the choice of law in the contract and is also associated with the personal status of the insurance company, the personal status of the policyholder who are Indonesian, as well as the consequences of the choice of law listed in marine hull and machinery insurance or cargo insurance and national laws which can be applied to marine insurance disputes occurring in Indonesia.  Keywords : Marine Insurance

National trends in the cost of employer health insurance coverage, 2003-2013.

Science.gov (United States)

Collins, Sara R; Radley, David C; Schoen, Cathy; Beutel, Sophie

2014-12-01

Looking at trends in private employer-based health insurance from 2003 to 2013, this issue brief finds that premiums for family coverage increased 73 percent over the past decade--faster than median family income. Employees' contributions to their premiums climbed by 93 percent over that time frame. At the same time, deductibles more than doubled in both large and small firms. Workers are thus paying more but getting less protective benefits. However, the study also finds that while premiums continued to rise through 2013, the rate of growth slowed between 2010 and 2013, following implementation of the Affordable Care Act. While families experienced slower growth in premium contributions and deductibles over this period, sluggish growth in median family income means families are paying more in premiums and deductibles as a share of their income than ever before.

Uninsured vs. insured population

DEFF Research Database (Denmark)

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

2003-01-01

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......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...... status. Also, the insured nonelderly Americans were found to have better access to health care than the uninsured nonelderly....

26 CFR 1.801-4 - Life insurance reserves.

Science.gov (United States)

2010-04-01

... is claimed. However, reserves held by the company with respect to the net value of risks reinsured in..., life insurance reserves, as in the case of level premium life insurance, are held to supplement the... amount (if any) by which: (i) The present value of the future net premiums required for such contract...

Health Insurance for Cancer Care in Asia: Thailand

OpenAIRE

Pongpak Pittayapan

2016-01-01

Thailand has a universal multi-payer system with two main types of health insurance: National Health Security Office or public health insurance and private insurance. National health insurance is designed for people who are not eligible to be members of any employment-based health insurance program. Although private health insurance is also available, all Thai citizens are required to be enrolled in either national health insurance or employees? health insurance. There are many differences be...

An Auto Telematics System For Insurance Premium Rating amp Pricing.

Directory of Open Access Journals (Sweden)

Irode Philip Luvuga

2017-12-01

Full Text Available Insurance telematics is a new technology that has been poised to transform and change the way we buy and underwrite insurance by 2030. Insurance Premium Rate is a major variable that determines if a client will buy or take up a policy cover or not. With the current stiff competition being felt in the Industry the local insurance industry continues to suffer big losses due to unhealthy business practice of competitor undercutting among the insurers to attract more clients but exposing the underwriting companies to potential high risks. This in most cases means that the product is totally underpriced to the extent that it would be uneconomical and unsustainable in the long run for the insurance firms. This research outlines a technology defined model that should be used to determine the ideal premium rate payable in the Motor Insurance industry taking into account all the variables and the risk exposure of the policy holder. The system model is able to determine the insurable risk based on the drivers attributes and profile location of the vehicle in relation to risk geo-locations map monitoring the driving parameters of the vehicle by the driver and the driving style. This enable the insurance company determines costs associated with the risk cover based on factual facts which are scientifically determined by the real risks.

[Public and private: insurance companies and medical care in Mexico].

Science.gov (United States)

Tamez, S; Bodek, C; Eibenschutz, C

1995-01-01

During the late 70's and early 80's in Mexico, as in the rest of Latin-America, sanitary policies were directed to support the growth of the private sector of health care at the expense of the public sector. This work analyzes the evolution of the health insurance market as a part of the privatization process of health care. The analysis based on economic data, provides the political profile behind the privatization process as well as the changes in the relations between the State and the health sector. The central hypothesis is that the State promotes and supports the growth of the private market of medical care via a series of legal, fiscal and market procedures. It also discusses the State roll in the legal changes related to the national insurance activity. A comparative analysis is made about the evolution of the insurance industry in Argentina, Brazil, Chile and Mexico during the period 1986-1992, with a particular enfasis in the last country. One of the principal results is that the Premium/GNP and Premium/per capita, display a general growth in the 4 countries. This growth is faster for Mexico for each one) because the privatization process occurred only during the most recent years. For the 1984-1991 period in Mexico the direct premium as percentage of the GNP raised from 0.86% to 1.32%. If one focussed only in the insurance for health and accidents branches the rice goes form 8.84% in 1984 to 19.08% in 1991. This indicates that the insurance industry is one of the main targets of the privatization process of the health care system in Mexico. This is also shown by the State support to fast expansion of the big medical industrial complex of the country. Considering this situation in the continuity of the neoliberal model of Mexico, this will profound the inequity and inequality.

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.

Life Insurance and Individual Pension System

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İbrahim PAÇACI

2017-12-01

Full Text Available There is no explanation in the source about the insurance and the private pension system, which are not known at the time of the formation of the fiqh and the period of the support. Upon the spread of the insurance, The provision of insurance in the geography of Islam has also begun to be discussed. There are contracts that have the elements and conditions that must be found in itself and that are not contradictory to the basic principles of Islam. In this respect, without accumulating life insurance that protects the person against sudden risks is permissible. The provision of cumulative life insurance and the individual pension system depends on the area where the premiums are deposited and the type of payment. Provided that the premiums are assessed in halal areas; a at the end of the period premiums and interests are paid back in full or on a specific plan, or b all or part of the premiums and interests are left in the company and the income share is paid as salary, these are permissible. However, it is not permissible if all or part of the premiums and duties are left in the company and a fixed salary is attached. It is permissible for the State to contribute to the entry into the private pension system in order to incentivize the savings, and it is permissible for them to receive this contribution.

Health insurance--a challenge in India.

Science.gov (United States)

Presswala, R G

2004-01-01

In India, indemnity health insurance started about 3 decades ago. Mediclaim was the most popular product. Indian insurers and multinational companies have not been enthusiastic about starting health insurance in spite of the availability of a good market because health insurers have historically incurred losses. Losses have been caused by poor administration. Because it is a small portion of their total businesses, insurers have never tried sincerely to improve deficiencies or taken special interest. Hospital management and medical specialists have the spirit of entrepreneurship and are prepared to learn quickly and follow managed care principles, though they are not currently practiced in India. Actuarial data from the health insurance industry is sparse, but data from alternative sources will be helpful for starting managed healthcare. In my opinion, if properly administered, a "limited" managed care product with appropriate precautions and premium levels will be successful and profitable and will compete with present indemnity products in India.

A Cognitive Computing Approach for Classification of Complaints in the Insurance Industry

Science.gov (United States)

Forster, J.; Entrup, B.

2017-10-01

In this paper we present and evaluate a cognitive computing approach for classification of dissatisfaction and four complaint specific complaint classes in correspondence documents between insurance clients and an insurance company. A cognitive computing approach includes the combination classical natural language processing methods, machine learning algorithms and the evaluation of hypothesis. The approach combines a MaxEnt machine learning algorithm with language modelling, tf-idf and sentiment analytics to create a multi-label text classification model. The result is trained and tested with a set of 2500 original insurance communication documents written in German, which have been manually annotated by the partnering insurance company. With a F1-Score of 0.9, a reliable text classification component has been implemented and evaluated. A final outlook towards a cognitive computing insurance assistant is given in the end.

The Influence of Leverage and Diversification to Financial Performance of General Insurance Companiesn in Indonesia 2010-2014

OpenAIRE

Nuryatno, Muhammad; Yulianti

2017-01-01

The purpose of this research is to find out the influence of leverage and diversification to financial performance of general insurance companies in Indonesia. This research uses secondary data from Indonesian general insurance companies’s financial report  within  year 2010 to 2014. The population of this research  is general insurance companies in Indonesia which listed as member of The General Insurance assosiation of Indonesia. The number of samples that used in this research are 10 g...

Green financing - Are European banks and insurers contributing?

International Nuclear Information System (INIS)

Kamelgarn, Yona; Blanc, Dominique

2015-02-01

The analysis of the public communication of the 32 largest banking and insurance groups led to the following observations. Awareness of the role of the financial sector in the transition to a low-carbon economy has grown since 2012, and companies are increasingly conducting environmental risk analysis. But these practices are more akin to risk management policies - initiated to limit exposure to the most controversial projects - than to real reallocation strategies contributing to the transition to a low-carbon economy. Information on green financing is developing but focuses more on image than on business activities. The companies in the sample are communicating more on their green financing, and in particular on their contribution to renewable energy projects. But the indicators are very heterogeneous, are not monitored over time and cannot be compared between companies. Generally speaking, banks and insurers have not committed to increase their allocations to green financing and fail to discuss the financing of fossil fuels. Information on environmental and social risk management policies is becoming more structured. Process consists in introducing sector-based policies, setting forth minimum standards below which companies do not invest, notably in the energy sector, as well as developing environmental and social (ES) risk analysis tools for transactions. Analyses theoretically encompass the environmental impact of financed activities, but little information exists on the type of criteria used. These practices, developed initially for project finance, have since been extended to other banking activities and, more recently, to insurance activities. Reporting on the environmental impact of financed products remains rudimentary. Over three-quarters of the companies in the sample acknowledge the environmental responsibility stemming from their business activities, but measures continue to focus on the impact of premises and business travel. While almost all the

[100 years with certificates: Danish Society of Insurance Medicine 1902-2002].

Science.gov (United States)

Permin, Henrik

2002-01-01

Danish Society of Insurance Medicine was formed in 1902 as an association between the Danish Society of Accident Insurance and the Danish Society of Life Insurance Medicine, both founded a year before. The purpose of the society is to apply and to further the scientific basis of insurance medicine. The meetings also play a role as a forum for discussions. The members of the society are all working part-time in an insurance company in Denmark (in contrast to many other countries where it is a full-time job). The members are mainly specialists in medicine and surgery. During the first half life of the society nearly all members were high-qualified doctors, i.e. professors and consultants at a university hospital in Copenhagen usually with a doctoral degree. These prominent doctors had a significant influence on insurance medicine in Denmark. The managing directors of the Insurance Companies were invited to the meetings. Many scientific works and textbooks were written on the subject. The society arranges two meetings yearly - one concerning with life insurance and one with accident-insurance medicine. Previously, the question put to the medical adviser was always "Which impairments can still be insured?", but today the question is the opposite "Which impairments are not insurable?" The members have increased to currently 112, still only men, but today the members are younger, comprise fewer professors and fewer with a doctoral degree. During the last 6 years, all interested members in the insurance companies have been invited to the meetings, providing a broader input for the discussions. The topic of the meeting is of current interest: new laws or a new treatment of a disease (medication, surgery) which has been introduced. One to three speakers open the meeting, followed by a discussion. The meetings are always concluded with a light meal and a glass of wine, in earlier days also with cigars and Danish schnaps. 190 meetings have been held during the last 100 years

Factors affecting the insurance sector development: Evidence from Albania

Directory of Open Access Journals (Sweden)

Eglantina Zyka

2014-03-01

Full Text Available In this paper we explore factors potentially affecting the size of Albanian insurance market, over the period 1999 to 2009. The results of co- integration regression show that GDP and fraction urban population, both one lagged value, size of population and paid claims, both at contemporary value, have significant positive effect on aggregate insurance premium in Albania while the market share of the largest company in the insurance market, one lagged value, has significant negative effect on aggregate insurance premiums. Granger causality test shows statistically significance contribution of GDP growth to insurance premium growth, GDP drives insurance premium growth but not vice versa. The Albanian insurance market is under development, indicators as: insurance penetration, premium per capita, ect are still at low level and this can justify the insignificant role of the insurance in the economy

China’s Insurance Regulatory Reform, Corporate Governance Behavior and Insurers’ Governance Effectiveness

Science.gov (United States)

Zhang, Hongliang; Qiu, Aichao

2017-01-01

External regulation is an important mechanism to improve corporate behavior in emerging markets. China’s insurance governance regulation, which began to supervise and guide insurance corporate governance behavior in 2006, has experienced a complex process of reform. This study tested our hypotheses with a sample of 85 firms during 2010–2011, which was obtained by providing a questionnaire to all of China’s shareholding insurance companies. The empirical study results generally show that China’s insurance governance effectiveness has significantly improved through strict regulation. Insurance corporate governance can improve business acumen and risk-control ability, but no significant evidence was found to prove its influence on profitability, as a result of focusing less attention on governance than on management. State ownership is associated with higher corporate governance effectiveness than non-state ownership. Listed companies tend to outperform non-listed firms, and life insurance corporate governance is more effective than that of property insurers. This study not only contributes to the comprehensive understanding of corporate governance effectiveness but also to the literature by highlighting the effect of corporate governance regulation in China’s insurance industry and other emerging economies of the financial sector. PMID:29039781

China’s Insurance Regulatory Reform, Corporate Governance Behavior and Insurers’ Governance Effectiveness

Directory of Open Access Journals (Sweden)

Huicong Li

2017-10-01

Full Text Available External regulation is an important mechanism to improve corporate behavior in emerging markets. China’s insurance governance regulation, which began to supervise and guide insurance corporate governance behavior in 2006, has experienced a complex process of reform. This study tested our hypotheses with a sample of 85 firms during 2010–2011, which was obtained by providing a questionnaire to all of China’s shareholding insurance companies. The empirical study results generally show that China’s insurance governance effectiveness has significantly improved through strict regulation. Insurance corporate governance can improve business acumen and risk-control ability, but no significant evidence was found to prove its influence on profitability, as a result of focusing less attention on governance than on management. State ownership is associated with higher corporate governance effectiveness than non-state ownership. Listed companies tend to outperform non-listed firms, and life insurance corporate governance is more effective than that of property insurers. This study not only contributes to the comprehensive understanding of corporate governance effectiveness but also to the literature by highlighting the effect of corporate governance regulation in China’s insurance industry and other emerging economies of the financial sector.

Applications of Decisions under Uncertainty in the Case of Omniasig-Life Insurance S.A.

Directory of Open Access Journals (Sweden)

Stelian STANCU

2006-01-01

Full Text Available Uncertainty is given because we don’t know the nature state event. The company can only estimate the demand of policies in order to estimate the received premiums. If the insurance company doesn’t choose correctly the alternative and the number and the damages will be greater then what it was estimated, then it will come to the point of not being able to pay all the damages. Because of the adverse selection, the insurer meets uncertainty in every day life. It is well known the fact that persons who have a higher risk of producing the insured event, they also have a higher inclination towards contracting insurance.

CBO and JCT's Estimates of the Effects of the Affordable Care Act on the Number of People Obtaining Employment-Based Health Insurance

OpenAIRE

Congressional Budget Office

2012-01-01

CBO and the Joint Committee on Taxation (JCT) continue to expect that the Affordable Care Act (ACA)—the health care legislation enacted in March 2010—will lead to a small reduction in the number of people receiving employment-based health insurance.

Armed guards on vessels : insurance and liability

Directory of Open Access Journals (Sweden)

Mišo Mudrić

2011-12-01

Full Text Available The Paper examines the insurance and liability issues resulting from the use of armed guards on board vessels. The study begins with an overview of the available data on key economic fi gures representing the projected overall annual costs of modern piracy. The focus is then shifted to the issue of public versus private security, where possible dangers of private-based security options are discussed in general. After explaining why the Somalia region deserves a closer attention when compared to other pirate-infested waters, a brief summary of the international effort to combat piracy threat is presented, followed by a structured overview of the use of private maritime security options in the maritime sector in general. One security option is the use of armed guards on board vessels. This option is explored both from the political (the acceptance by stakeholders and legal standpoint (legal issues arising from the use of armed guards. An important remedy for the shipping companies/ operators threatened by the piracy hazard is the existence of affordable and effective (specialized marine insurance. A study of available piracy insurance policies is presented, followed by an analysis of case law and other legal issues arising from piracy attacks, which could prove important when considering the legal implications of armed guards employment. Finally, a simplifi ed economic analysis of available security options is presented, followed by the final assessment of benefi ts derived from the use of armed guards.

The need for an organized approach for Government Medical Insurance Programs in the Commonwealth of Virginia.

Science.gov (United States)

Edlich, Richard F

2005-01-01

The Commonwealth of Virginia has a disorganized approach to enrolling their retired faculty in Medicare Supplement Insurance Programs. An organized approach to establishing Medicare Supplemental Insurance for retired University faculty should include the following administrative changes to correct this potential health-care crisis for retired state faculty members. First, the ombudsman for human resources for the state universities must receive educational programs that prepare the retired faculty members over the age of 65 to select the corporate insurance policy from Anthem Blue Cross/Blue Shield Insurance Company. Included in this educational program should be a review of the Advantage 65 Member Handbook. Second, they must point out to the faculty member that they are receiving a CORPORATE insurance policy rather than an individual insurance policy from Anthem Blue Cross/Blue Shield Insurance Company. They must provide the telephone numbers of the Anthem Blue Cross/Blue Shield offices in Roanoke, Virginia. Concomitantly, they must send the name and address of the faculty member to the Commonwealth of Virginia Department of Human Resource Management. They should inform the faculty member that the Commonwealth of Virginia Department of Human Resource Management will be sending them newsletters that outline any changes in the corporate insurance policy that they coordinate with the Anthem Blue Cross/Blue Shield Insurance Company. The Commonwealth of Virginia Department of Human Resource Management must take on some new responsibilities in their efforts to coordinate health-care coverage of the retired faculty over the age of 65. First, they must have a computer registry of all corporate health-care policies of the individual faculty members to ensure that newsletters are being sent to them. Ideally, this agency should have a computerized system that allows it to send out its newsletter update by email to those retired faculty members who have computers. They should

32 CFR Appendix B to Part 50 - Overseas Life Insurance Registration Program

Science.gov (United States)

2010-07-01

... the laws of the State where the company's headquarters are located. d. A statement that the company... President, Vice President, or designated official of the insurance company shall be forwarded to the... Command, U.S. Pacific Command, U.S. Central Command, U.S. Southern Command) where the company presently...

77 FR 25788 - Request for Information Regarding Stop Loss Insurance

Science.gov (United States)

2012-05-01

... Health Plan Standards and Compliance Assistance, Employee Benefits Security Administration, Room N-5653... employee benefit plans to be insurance companies in order to regulate them under insurance laws.) \\6\\ As a... DEPARTMENT OF THE TREASURY Internal Revenue Service DEPARTMENT OF LABOR Employee Benefits Security...

76 FR 20727 - National Life Insurance Company, et al.