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...

PHARMACEUTICAL COMPANIES BETWEEN CRISIS AND COMPETITIVENESS - SECTORAL DIAGNOSIS

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Mihaela\tBÎRSAN

2015-06-01

Full Text Available The evolution of the pharmaceutical industry was a positive constant with the indicators of industrial production even in years of crisis. Although the economic crisis in Romania decreased average growth rate of pharmaceutical companies, market value is expected to increase. The explanation comes from the fact that in order to boost productivity, pharmaceutical companies are turning to emerging countries with aging populations such as open new markets for future development. Add to this the recent health policies implemented by newly industrialized countries that are aimed at ensuring increased access to care. Analysts see the field phenomenon called "Farma-merger" a good chance for European pharmaceutical companies oriented to developing countries where drug sales should record a double-digit annual growth until 2017. In Erste Group reports stated that the impact of the crisis on the pharmaceutical industry should be limited markets for EU only their economic slowdown. This will be possible because the external indebtedness of pharmaceutical companies in the EU remains at a minimum, they are able to finance their investment plans without tapping financial markets, are not adversely affected by the current limited availability of credit resources. Therefore major pharmaceutical companies in the EU will remain a solid investment on the long term, the negative developments are limited due to high resistance to the crisis their business model segment "generic". The consequence of these developments is reflected in the recognition for the first time, the pharmaceutical sector as a strategic sector for the Romanian economy. In the context of public debate launching the National Strategy for Competitiveness 2014-2020, Generic Medicines Industry Association of Romania (APMGR local pharmaceutical industry reminds the Government proposals on correcting the current fiscal and operational regulatory framework, to allow unlocking investments in facilities

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...

Informed consent: Enforcing pharmaceutical companies' obligations abroad.

Science.gov (United States)

Lee, Stacey B

2010-06-15

The past several years have seen an evolution in the obligations of pharmaceutical companies conducting clinical trials abroad. Key players, such as international human rights organizations, multinational pharmaceutical companies, the United States government and courts, and the media, have played a significant role in defining these obligations. This article examines how such obligations have developed through the lens of past, present, and future recommendations for informed consent protections. In doing so, this article suggests that, no matter how robust obligations appear, they will continue to fall short of providing meaningful protection until they are accompanied by a substantive enforcement mechanism that holds multinational pharmaceutical companies accountable for their conduct. Issues of national sovereignty, particularly in the United States, will continue to prevent meaningful enforcement by an international tribunal or through one universally adopted code of ethics. This article argues that, rather than continuing to pursue an untenable international approach, the Alien Torts Statute (ATS) offers a viable enforcement mechanism, at least for US-based pharmaceutical companies. Recent federal appellate court precedent interpreting the ATS provides the mechanism for granting victims redress and enforcing accountability of sponsors (usually pharmaceutical companies and research and academic institutions) for informed consent misconduct. Substantive human rights protections are vital in order to ensure that every person can realize the "right to health." This article concludes that by building on the federal appellate court's ATS analysis, which grants foreign trial participants the right to pursue claims of human rights violations in US courts, a mechanism can be created for enforcing not only substantive informed consent, but also human rights protections.

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.

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...

Human rights responsibilities of pharmaceutical companies in relation to access to medicines.

Science.gov (United States)

Lee, Joo-Young; Hunt, Paul

2012-01-01

Although access to medicines is a vital feature of the right to the highest attainable standard of health ("right to health"), almost two billion people lack access to essential medicines, leading to immense avoidable suffering. While the human rights responsibility to provide access to medicines lies mainly with States, pharmaceutical companies also have human rights responsibilities in relation to access to medicines. This article provides an introduction to these responsibilities. It briefly outlines the new UN Guiding Principles on Business and Human Rights and places the human rights responsibilities of pharmaceutical companies in this context. The authors draw from the work of the first UN Special Rapporteur on the right to the highest attainable standard of health, in particular the Human Rights Guidelines for Pharmaceutical Companies in Relation to Access to Medicines that he presented to the UN General Assembly in 2008, and his UN report on GlaxoSmithKline (GSK). While the Guiding Principles on Business and Human Rights are general human rights standards applicable to all business entities, the Human Rights Guidelines for Pharmaceutical Companies consider the specific human rights responsibilities of one sector (pharmaceutical companies) in relation to one area of activity (access to medicines). The article signals the human rights responsibilities of all pharmaceutical companies, with particular attention to patent-holding pharmaceutical companies. Adopting a right-to-health "lens," the article discusses GSK and accountability. The authors argue that human rights should shape pharmaceutical companies' policies, and provide standards in relation to which pharmaceutical companies could, and should, be held accountable. They conclude that it is now crucial to devise independent, accessible, transparent, and effective mechanisms to monitor pharmaceutical companies and hold them publicly accountable for their human rights responsibilities. © 2012 American

Supply Chain Management in Zhendong Pharmaceutical Company

OpenAIRE

Li, Yan

2011-01-01

Medicines are special commodity related to people’s lives and health, therefore, pharmaceutical distribution is an industry affecting the national economy and the people's livelihood. With health care reform, changeable pharmaceutical policy and fiercely increasing competition in the medical industry, pharmaceutical distribution companies should improve their level of logistics operations and reduce overall logistics management costs in order to gain a leading position in the competition. In ...

Characterization of the medical department of pharmaceutical companies operating in Portugal

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Acílio Gala

2017-04-01

Full Text Available In a context of strong regulatory demands and high economic pressures and constraints, medical departments within pharmaceutical companies, have demonstrated its strategic relevance even though the functions to embrace are not globally consensual. In this context, a study that intended to analyse the management of medical activities, in pharmaceutical companies operating in Portugal, including allocated human resources and investment trends, was implemented. Quantitative information was collected through an electronic survey, in pharmaceutical companies with activity in Portugal. The analysis of the results supported the conclusion that the majority of the companies are affiliates of international companies and that 79% of them have formalized medical departments. The human resources of the medical departments of the participant companies include several professional classes, with predominance of pharmacists. Globally, the number of employees of the medical area has registered a systematic growth in the last years. It was also possible to conclude that the majority of the companies are increasing the investment in medical affairs activities. This study enables the understanding of these activities in pharmaceutical companies operating in Portugal, within the international panorama of pharmaceutical industry. It contributes to improve the knowledge about the relevance of medical departments while enabling the definition of novel pathways to increase the competiveness and sustainability of the companies.

[Response of Pharmaceutical Companies to the Crisis of Post-Marketing Clinical Trials of Anti-Cancer Agents -- Results of Questionnaires to Pharmaceutical Companies].

Science.gov (United States)

Nakajima, Toshifusa

2016-04-01

Investigator-oriented post-marketing clinical trials of anti-cancer agents are faced to financial crisis due to drastic decrease in research-funds from pharmaceutical companies caused by a scandal in 2013. In order to assess the balance of research funds between 2012 and 2014, we made queries to 26 companies manufacturing anti-cancer agents, and only 10 of 26 responded to our queries. Decrease in the fund was observed in 5 of 10, no change in 1, increase in 3 and no answer in 1. Companies showed passive attitude to carry out doctor-oriented clinical trials of off-patent drugs or unapproved drugs according to advanced medical care B program, though some companies answered to proceed approved routines of these drugs if clinical trials showed good results. Most companies declined to make comments on the activity of Japan Agency for Medical Research and Development (AMED), but some insisted to produce good corroboration between AMED and pharmaceutical companies in order to improve the quality of trials. Further corroboration must be necessary for this purpose among researchers, governmental administrative organs, pharmaceutical companies, patients' groups, and mass-media.

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

Changing R&D models in research-based pharmaceutical companies.

Science.gov (United States)

Schuhmacher, Alexander; Gassmann, Oliver; Hinder, Markus

2016-04-27

New drugs serving unmet medical needs are one of the key value drivers of research-based pharmaceutical companies. The efficiency of research and development (R&D), defined as the successful approval and launch of new medicines (output) in the rate of the monetary investments required for R&D (input), has declined since decades. We aimed to identify, analyze and describe the factors that impact the R&D efficiency. Based on publicly available information, we reviewed the R&D models of major research-based pharmaceutical companies and analyzed the key challenges and success factors of a sustainable R&D output. We calculated that the R&D efficiencies of major research-based pharmaceutical companies were in the range of USD 3.2-32.3 billion (2006-2014). As these numbers challenge the model of an innovation-driven pharmaceutical industry, we analyzed the concepts that companies are following to increase their R&D efficiencies: (A) Activities to reduce portfolio and project risk, (B) activities to reduce R&D costs, and (C) activities to increase the innovation potential. While category A comprises measures such as portfolio management and licensing, measures grouped in category B are outsourcing and risk-sharing in late-stage development. Companies made diverse steps to increase their innovation potential and open innovation, exemplified by open source, innovation centers, or crowdsourcing, plays a key role in doing so. In conclusion, research-based pharmaceutical companies need to be aware of the key factors, which impact the rate of innovation, R&D cost and probability of success. Depending on their company strategy and their R&D set-up they can opt for one of the following open innovators: knowledge creator, knowledge integrator or knowledge leverager.

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

Directory of Open Access Journals (Sweden)

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

Science.gov (United States)

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...

Internet pharmaceutical sales: attributes, concerns, and future forecast.

Science.gov (United States)

Bruckel, Katy; Capozzoli, Ernest A

2003-01-01

Internet pharmaceutical sales continue to skyrocket as healthcare providers and consumers are increasingly relying on the efficiencies and convenience that is available via such transactions. Managed care companies, increasing demands to reduce healthcare inefficiencies while maximizing the quality of patient care is a significant contributing factor to the expanding utilization and success of online pharmaceutical sales. However, with the expansion of Internet pharmaceutical sales, healthcare providers, pharmacy benefit management and insurance companies, and consumers realize new opportunities and risks. This paper will review the attributes and concerns associated with online pharmaceutical sales, discussing current and pending legislation intended to more effectively manage these parameters.

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

Directory of Open Access Journals (Sweden)

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.

Capitated chronic disease management programs: a new market for pharmaceutical companies.

Science.gov (United States)

Cave, D G

1995-01-01

With corporatism of the medical care delivery system, the pharmaceutical industry is searching for new ways to market prescription drug product lines. A new strategy focuses on developing chronic disease management programs. In doing so, pharmaceutical companies work with clinical leaders of HMOs or large physician groups on disease management guidelines to reduce practice pattern variations and improve the quality of patient care. In addition, pharmaceutical companies capitate payment to physicians treating chronic disease patients to give them financial incentives to comply with the disease management guidelines.

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

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

Directory of Open Access Journals (Sweden)

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...

HRM Practices and it Impact on Employee Satisfaction: A Case of Pharmaceutical Companies in Bangladesh

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Mostafizur Rahman

2013-07-01

Full Text Available This paper aims to investigate the impact of HRMpractices on employee satisfaction in the pharmaceutical companies ofBangladesh. A structured questionnaire was developed and distributed amoung 108employees of four pharmaceuticals companies, whereas 96 employees answeredrightly. Statistical tools like z test, mean and proportion analysis was usedto assess the impact of HRM practices on employee satisfaction. The study revealsthat employees in pharmaceutical companies are satisfied with the recruitment andselection, and training and development policy and practices of pharmaceutical companies.On the other hand, employees are dissatisfied with the human resource planning,working environment, compensation policy, performance appraisal, and industrialrelations. The study suggests that the pharmaceutical companies should developproper human resource policy and given emphasis on proper human resourcepractices to enhance the satisfaction of their employees and build them effectivehuman resources.

Low R&D Efficiency in Large Pharmaceutical Companies

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Wu, Yanqing

2016-01-01

Large pharmaceutical companies will face serious challenges in the future when several of their blockbuster drugs run out of patents, and meanwhile a growing political pressure to stop the fast increase in health care expenditures has merged. The recent wave of mergers and acquisitions (M&A) within...... the industry can be seen as an effective means to reduce costs and compensate for the reduced earnings from patented drugs. The paper examines the main development in expenditure on research and development (R&D) and number of patents in the industry with a focus on the role of company size. The analysis...... builds on a data set containing information of both patents and R&D expenditure from the world’s top 90 largest pharmaceutical companies, as well as their account data from 2002 to 2013. The empirical part estimates the firm size effect on R&D efficiency and the amount of investment allocated to R...

Application of Real Options Valuation to R&D Investments in Pharmaceutical Companies

OpenAIRE

Zhang, Huan Ran

2006-01-01

This paper provides an insight into the application of real option valuation method to R&D projects in pharmaceutical companies. As one of the most important corporate finance decision-making methods, real option valuation method has been introduced in the last two decades. By applying option valuation methods, real option valuation is a useful tool to company managers. R&D investments in pharmaceutical companies are subject to considerable uncertainty, which may involve possibilities (i...

Pharmaceutical companies and healthcare providers: Going beyond the gift - An explorative review.

Science.gov (United States)

Latten, Tom; Westra, Daan; Angeli, Federica; Paulus, Aggie; Struss, Marleen; Ruwaard, Dirk

2018-01-01

Interactions between pharmaceutical companies and healthcare providers are increasingly scrutinized by academics, professionals, media, and politicians. Most empirical studies and professional guidelines focus on unilateral donor-recipient types of interaction and overlook, or fail to distinguish between, more reciprocal types of interaction. However, the degree of goal alignment and potential for value creation differs in these two types of interactions. Failing to differentiate between these two forms of interaction between pharmaceutical companies and healthcare providers could thus lead to biased conclusions regarding their desirability. This study reviews the empirical literature regarding the effects of bilateral forms of interactions between pharmaceutical companies and healthcare providers in order to explore their effects. We searched two medical databases (i.e. PubMed and Cochrane Library) and one business database (i.e. EBSCO) for empirical, peer-reviewed articles concerning any type of bilateral interaction between pharmaceutical companies and healthcare providers. We included quantitative articles which were written in English and published between January 1st, 2000 and October 31st, 2016, and where the title or abstract included a combination of synonyms of the following keywords: pharmaceutical companies, healthcare providers, interaction, and effects. Our search results yielded 10 studies which were included in our analysis. These studies focused on either research-oriented interaction or on education-oriented interaction. The included studies reported various outcomes of interaction such as prescribing behavior, ethical dilemmas, and research output. Regardless of the type of interaction, the studies either reported no significant effects or ambivalent outcomes such as affected clinical practice or ethical issues. The effects of bilateral interactions reported in the literature are similar to those reported in studies concerning unilateral

A CONTENT ANALYSIS OF THE MISSION STATEMENTS OF IRAN, TURKEY, INDIA AND UNITED STATES PHARMACEUTICAL COMPANIES

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Shahriar AZIZI

2014-06-01

Full Text Available Pharmaceutical companies play a critical role in healthcare economy. Articulating mission statement of a Pharmaceutical company results in guiding strategies and activities of the firm. In this survey, mission statements of Iranian, Turkish, Indian and American pharmaceutical companies are analyzed. By using content analysis, frequencies of nine elements of the mission statement according to Fred R. David including: customers, product/service, market, technology, survival/growth/profitability, philosophy, self-perception, public image and employee were investigated. 98 mission statements of pharmaceutical companies (32 iranain companies, 16 Turkish companies, 30 Indian companies, and 20 American companies were analyzed. Simple correspondence analysis was used to extract the perceptual map. Results indicate that two dimensions of perceptual map include: focus of mission (throughput or input/output, and focus of mission elements (market or support. Iranian companies placed on the quarter of throughput /support, American and Turkish companies placed on the quarter of throughput/market. Indian companies placed on the quarter of input and output/market.

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.

Implementing Lean Manufacturing in Malaysian Small and Medium Startup Pharmaceutical Company

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Ibrahim, Wan Mohd Khairi bin Wan; Rahman, Mohamed Abdul; Abu Bakar, Mohd Rushdi bin

2017-03-01

Domestic pharmaceutical industry has been identified by the Malaysian government as an industry to be developed under its 11th economic development plan. Most homegrown pharmaceutical companies fall under the category of small and medium enterprises (SME) and therefore need to be highly efficient in their operations to compete with the multinationals. Though lean manufacturing is a well-known methodology to achieve an efficient operation, only a small percentage of the local SMEs implement it. The study aims to determine the real success factors in lean implementation through systematic review of relevant literature on lean manufacturing implementation in local companies, onsite observation of a selected SME company, Global Factor Sdn. Bhd. (GFSB), that successfully implemented lean manufacturing followed by actual implementation of lean project at IKOP Sdn. Bhd., a small startup pharmaceutical company. Lean tools like Gemba, value stream map (VSM) and spaghetti diagram were used to analyze and improve a process at IKOP Sdn. Bhd. The literature review showed that the implementation of lean manufacturing at Malaysian SMEs involved in pharmaceutical industry is at its infancy. Study at GFSB indicated that successful implementation of lean manufacturing stems from management support, employee’s commitment, government support and knowledge on lean among employees. Application of lean tools in IKOP Sdn. Bhd. to improve the process cycle efficiency of hand sanitizer, i-Hand 4.0, has shown that the GMP guidelines are not jeopardized. The Kaizen improvement project resulted in 46.3% reduction in lead time. It may be concluded that implementing lean manufacturing in any small local startup pharmaceutical company is beneficial in reducing operational costs and increasing the efficiency and effectiveness and does not conflict with the existing GMP guidelines.

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.

Evaluation of productivity in Iranian pharmaceutical companies: A DEA-based Malmquist approach and panel data analysis.

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Varmaghani, Mehdi; Meshkini, Amir Hashemi; Farzadfar, Farshad; Yousefi, Mehdi; Yaghoubifard, Saeed; Varahrami, Vida; Darzi, Ehsan Rezaei; Anabi, Majid; Kebriaeezadeh, Abbas; Zekri, Hedieh-Sadat

2015-01-01

In this study, we aimed to assess comparative productivity of 21 pharmaceutical companies in Iran during 2000-2013. To evaluate the productivity trend of pharmaceutical companies in Iran, we used data envelopment analysis-based Malmquist index. "Total assets" and "capital stock" as inputs and "net sales" and "net profit" as outputs extracted from Tehran stock exchange, were selected to be included in the analysis. This method provides the possibility for analyzing the performance of each company in term of productivity changes over time. We also used an estimation generalized least square panel data model to identify the factors that might affect productivity of pharmaceutical companies in Iran using EViews 7 and Deep 2.1 software. The mean total productivity during all years of the study was 0.9829, which indicates the improvement in their overall productivity. The results, over the 13-year period, indicated that the range of productivity changes in pharmaceutical companies, that were included in this study, was between 0.884 and 1.098. Panel data model indicated that age of company could positively (t = 4.765978, P brand-generic scheme) and also the type of ownership did not have a significant effect on the productivity of pharmaceutical companies. In this study, pharmaceutical productivity trends were fluctuated that could be due to the sub-optimal attention of policy makers and managers of pharmaceutical companies toward long-term strategic planning, focusing on productivity improvement.

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.

Legislative, educational, policy and other interventions targeting physicians' interaction with pharmaceutical companies: a systematic review.

Science.gov (United States)

Alkhaled, Lina; Kahale, Lara; Nass, Hala; Brax, Hneine; Fadlallah, Racha; Badr, Kamal; Akl, Elie A

2014-07-01

Pharmaceutical company representatives likely influence the prescribing habits and professional behaviour of physicians. The objective of this study was to systematically review the effects of interventions targeting practising physicians' interactions with pharmaceutical companies. We included observational studies, non-randomised controlled trials (non-RCTs) and RCTs evaluating legislative, educational, policy or other interventions targeting the interactions between physicians and pharmaceutical companies. The search strategy included an electronic search of MEDLINE and EMBASE. Two reviewers performed duplicate and independent study selection, data abstraction and assessment of risk of bias. We assessed the risk of bias in each included study. We summarised the findings narratively because the nature of the data did not allow a meta-analysis to be conducted. We assessed the quality of evidence by outcome using the GRADE methodology. Of 11 189 identified citations, one RCT and three observational studies met the eligibility criteria. All four studies specifically targeted one type of interaction with pharmaceutical companies, that is, interactions with drug representatives. The RCT provided moderate quality evidence of no effect of a 'collaborative approach' between the pharmaceutical industry and a health authority. The three observational studies provided low quality evidence suggesting a positive effect of policies aiming to reduce interaction between physicians and pharmaceutical companies (by restricting free samples, promotional material, and meetings with pharmaceutical company representatives) on prescription behaviour. We identified too few studies to allow strong conclusions. Available evidence suggests a potential impact of policies aiming to reduce interaction between physicians and drug representatives on physicians' prescription behaviour. We found no evidence concerning interventions affecting other types of interaction with pharmaceutical

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.

Pharmaceutical companies and healthcare providers: Going beyond the gift – An explorative review

Science.gov (United States)

Westra, Daan; Angeli, Federica; Paulus, Aggie; Struss, Marleen; Ruwaard, Dirk

2018-01-01

Introduction Interactions between pharmaceutical companies and healthcare providers are increasingly scrutinized by academics, professionals, media, and politicians. Most empirical studies and professional guidelines focus on unilateral donor-recipient types of interaction and overlook, or fail to distinguish between, more reciprocal types of interaction. However, the degree of goal alignment and potential for value creation differs in these two types of interactions. Failing to differentiate between these two forms of interaction between pharmaceutical companies and healthcare providers could thus lead to biased conclusions regarding their desirability. This study reviews the empirical literature regarding the effects of bilateral forms of interactions between pharmaceutical companies and healthcare providers in order to explore their effects. Material and methods We searched two medical databases (i.e. PubMed and Cochrane Library) and one business database (i.e. EBSCO) for empirical, peer-reviewed articles concerning any type of bilateral interaction between pharmaceutical companies and healthcare providers. We included quantitative articles which were written in English and published between January 1st, 2000 and October 31st, 2016, and where the title or abstract included a combination of synonyms of the following keywords: pharmaceutical companies, healthcare providers, interaction, and effects. Results Our search results yielded 10 studies which were included in our analysis. These studies focused on either research-oriented interaction or on education-oriented interaction. The included studies reported various outcomes of interaction such as prescribing behavior, ethical dilemmas, and research output. Regardless of the type of interaction, the studies either reported no significant effects or ambivalent outcomes such as affected clinical practice or ethical issues. Discussion and conclusion The effects of bilateral interactions reported in the literature are

Assessing stakeholder opinion on relations between cancer patient groups and pharmaceutical companies in Europe.

Science.gov (United States)

Leto di Priolo, Susanna; Fehervary, Andras; Riggins, Phil; Redmond, Kathy

2012-01-01

The relationship between the pharmaceutical industry and cancer patient groups has been the subject of much scrutiny and skepticism, and some high-profile negative media coverage has focused attention on some of the problematic aspects of the relationship. Both the pharmaceutical industry and cancer patient groups have made an effort in recent years to improve the transparency and openness of their relations, specifically with regard to the financial support offered by pharmaceutical companies to patient groups. The objectives of this survey were to benchmark perceptions held by different stakeholder groups about current relationships between cancer patient groups and pharmaceutical companies in Europe, and to explore opinions about ways in which partnerships between patient groups and pharmaceutical companies could evolve to the benefit of cancer patients. The survey was conducted using a structured questionnaire that contained a combination of matrix, scaled, and open-ended questions. The questionnaire was developed based on a literature search and the findings from ten in-depth interviews conducted with policy makers and advocates working at an EU level. Telephone interviews were carried out using a structured questionnaire with a convenience sample of 161 policy makers, cancer healthcare group representatives, and cancer patient group leaders from France, Germany, Hungary, Italy, Latvia, the Netherlands, Poland, Portugal, Romania, Spain, Sweden, and the UK. The interviews took place in the relevant language of the country. The current relationship between the pharmaceutical industry and cancer patient groups in Europe is generally viewed as positive, but it is also viewed as being unequal, not transparent enough, and not sufficiently patient-centric. There is broad agreement that cancer patient groups can help companies identify unmet needs and contribute to the development of innovative medicines; however, there is some concern about cancer patients

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...

Clinical trial allocation in multinational pharmaceutical companies – a qualitative study on influential factors

DEFF Research Database (Denmark)

Dombernowsky, Tilde; Haedersdal, Merete; Lassen, Ulrik

2017-01-01

(1) to identify key decision makers during country and site selection, respectively, (2) to evaluate by which parameters subsidiaries are primarily assessed by headquarters with regard to conducting clinical trials, and (3) to evaluate which site-related qualities companies value most when selecting......Clinical trial allocation in multinational pharmaceutical companies includes country selection and site selection. With emphasis on site selection, the overall aim of this study was to examine which factors pharmaceutical companies value most when allocating clinical trials. The specific aims were...... trial sites. Eleven semistructured interviews were conducted among employees engaged in trial allocation at 11 pharmaceutical companies. The interviews were analyzed by deductive content analysis, which included coding of data to a categorization matrix containing categories of site-related qualities...

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

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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.

ANALYSIS OF SCIENTIFIC RESEARCHES IN PHARMACEUTICAL PROMOTION GLOBALLY: TOWARDS INTERNATIONALLY DEVELOPING PRACTICALLY-ORIENTED GUIDELINES FOR PHARMACEUTICAL COMPANIES

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M. M. Bahlol

2016-01-01

Full Text Available Purpose. Pharmaceutical industry is transnational and globally important. Many pharmaceutical companies operate their business in multinational and international forms in different countries. Diverse researches from different countries indicated and confirmed marketing promotion importance in pharmaceutical field. Therefore, marketing promotion and its effects are a very important issue that should be globally investigated in real life and evidence context. We oriented our research according to these scientific and practical values.Methodology. We reviewed pharmaceutical marketing promotion researches from more than 25 different countries, e.g., USA, Canada, Italy, France, Russia, India, Egypt and Syria where we employed our knowledge of three widely spread languages, i.e., English, Russian and Arabic. Such language variation supports us with large and variable amount of scientific knowledge, deep understanding and ability of analysis. Some studies investigated average response to pharmaceutical marketing promotion and few studies took into consideration heterogeneity in their effects with respect to advertising medium or drug characteristics.Originality. We investigated empirical evidences of pharmaceutical marketing promotion that can be directed to either consumer or healthcare professionals.Findings. We extracted, gathered and associated information of pharmaceutical promotion globally which oriented us to several evidence and practical facts with regard to employing promotion tools in different definite situations pertinent to main directions; their welfare and health enhancing effects and adverse effects. Practical Implications- Consequently, we developed practically-oriented guidelines for companies concerning pharmaceutical promotion globally ate the end of this paper.

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...

Advertising to the End Consumers by Pharmaceutical Companies: Blessing or Curse?

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Scott Goldberg

2013-10-01

Full Text Available The last several years have seen an increase inthe number of direct to consumer advertisements by pharmaceutical companies.Direct to Consumer advertisements (DTC means targeting the end consumerthrough advertisements on television, radio, in newspapers, magazines, and theInternet. The qualitative study presents data and supports  the need for a future quantitative study toask physicians and consumers their opinions on whether pharmaceutical companiesshould be allowed to advertise directly to the end consumer. This article reviewsthe literature on this controversial topic, supporting the need to explore thereserach questions in greater detail. A review of the literature suggests thereis financial motivation on the part of the pharmaceutical companies to increasetheir sales by advertsing directly to the end consumer as opposed to performingan educational service to the consumer.

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 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.

The effect of capital structure on the profitability of pharmaceutical companies the case of iran.

Science.gov (United States)

Mohammadzadeh, Mehdi; Rahimi, Farimah; Rahimi, Forough; Aarabi, Seyed Mohammad; Salamzadeh, Jamshid

2013-01-01

Funding combination is the most important issue for the companies while they know the amount of required capital. Companies should be careful regarding the appliance of financial providing methods compatible with the investment strategy of company and profitability. This study seeks to examine the relationship between the capital structure and the profitability of pharmaceutical companies in Iran. For this purpose, top 30 Iranian pharmaceutical companies defined as study samples and their financial data were gathered for the period of 2001-2010. In this study, the net margin profit and debts to asset ratio were used as indicators of profitability and capital structure, respectively and sales growth was used as a control variable. Results showed that there was significant negative relationship between the profitability and the capital structure which means that the pharmaceutical companies have established a Pecking Order Theory and the internal financing has led to more profitability.

MODERN METHODS OF PRICING IN THE STRATEGIC ACTIVITIES PLANNING OF PHARMACEUTICAL COMPANIES IN UKRAINE

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N. Slushaenko

2015-04-01

Full Text Available This article investigated the role of pricing for strategic activities of pharmaceutical companies. It has been modified Bass diffusion model for new products, and it has been conducted empirical testing of the model on the sample of the products of the Ukrainian pharmaceutical market. Among the analyzed pricing models for new product allocated to one that meets the needs of the pharmaceutical industry and is based on available statistics. Formed a clear selection algorithm pricing policy of the company to the new product.

Attitude and practice of dental surgeons towards pharmaceutical companies' marketing gifts.

Science.gov (United States)

Tahir, Shaila; Rafique, Adeela; Ghafoor, Farkhanda; Saleem, Akif; Khan, Amanullah

2013-01-01

Interaction of pharmaceutical companies (PC) with healthcare services has been a reason for concern. In medicine, awareness of the ethical implications of these interactions have been emphasized upon, while this issue has not been highlighted in dentistry. This study undertook a cross-sectional rapid assessment procedure to gather views of dentists in various institutions towards unethical practices in health care and pharmaceutical industry. The purpose of this study was to assess the need for the formulation and implementation of guidelines for the interaction of dentists with the pharmaceutical and device industry in the best interest of patients. A group of 209 dentists of Lahore including faculty members, demonstrators, private practitioners and fresh graduates responded to a questionnaire to assess their attitudes and practices towards pharmaceutical companies' marketing gifts. The study was conducted during 2011 and provided interesting data that showed the pharmaceutical industry is approaching private practitioners more frequently than academicians and fresh graduates. Private practioners accepted the gifts but mostly recognized them as unethical (over 65%). Both groups considered sponsoring of on-campus lectures as acceptable (over 70%). Respondents are not fully aware of the ethical demands which are imperative for all health care industries, and there is a dire need of strict guidelines and code of ethics for the dentist's interaction with the pharmaceutical and device industry so that patient interest is protected.

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.

77 FR 33490 - Long Elevator & Machine Company, Inc., Including Workers Whose Unemployment Insurance (UI) Wages...

Science.gov (United States)

2012-06-06

... DEPARTMENT OF LABOR Employment and Training Administration [TA-W-80,525] Long Elevator & Machine Company, Inc., Including Workers Whose Unemployment Insurance (UI) Wages Were Reported Through Kone, Inc... former workers of Long Elevator & Machine Company, Inc., including workers whose unemployment insurance...

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.

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...

Pharmaceutical companies' policies on access to trial data, results, and methods: audit study.

Science.gov (United States)

Goldacre, Ben; Lane, Síle; Mahtani, Kamal R; Heneghan, Carl; Onakpoya, Igho; Bushfield, Ian; Smeeth, Liam

2017-07-26

Objectives  To identify the policies of major pharmaceutical companies on transparency of trials, to extract structured data detailing each companies' commitments, and to assess concordance with ethical and professional guidance. Design  Structured audit. Setting  Pharmaceutical companies, worldwide. Participants  42 pharmaceutical companies. Main outcome measures  Companies' commitments on sharing summary results, clinical study reports (CSRs), individual patient data (IPD), and trial registration, for prospective and retrospective trials. Results  Policies were highly variable. Of 23 companies eligible from the top 25 companies by revenue, 21 (91%) committed to register all trials and 22 (96%) committed to share summary results; however, policies commonly lacked timelines for disclosure, and trials on unlicensed medicines and off-label uses were only included in six (26%). 17 companies (74%) committed to share the summary results of past trials. The median start date for this commitment was 2005. 22 companies (96%) had a policy on sharing CSRs, mostly on request: two committed to share only synopses and only two policies included unlicensed treatments. 22 companies (96%) had a policy to share IPD; 14 included phase IV trials (one included trials on unlicensed medicines and off-label uses). Policies in the exploratory group of smaller companies made fewer transparency commitments. Two companies fell short of industry body commitments on registration, three on summary results. Examples of contradictory and ambiguous language were documented and summarised by theme. 23/42 companies (55%) responded to feedback; 7/1806 scored policy elements were revised in light of feedback from companies (0.4%). Several companies committed to changing policy; some made changes immediately. Conclusions  The commitments made by companies to transparency of trials were highly variable. Other than journal submission for all trials within 12 months, all elements of best practice

What patients think about promotional activities of pharmaceutical companies in Turkey.

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Semin, Semih; Güldal, Dilek; Ozçakar, Nilgün; Mevsim, Vildan

2006-08-01

Drugs, as commercial products, are subject to diverse marketing methods including promotional activities. Although the legal/ethical aspects of promotional activities have been discussed in a limited manner, the patient has remained the neglected variable of this equation. The goal of our study, therefore, is to investigate the patients' opinion on the promotional activities of pharmaceutical companies. A descriptive study was conducted at 44 primary health care centers in Turkey and 584 volunteers who applied to these centers were included. A questionnaire consisting of 42 questions was developed with demographic information in the first section, and drug ads and promotions included in the second section. Chi-square test and logistic regression analysis were used for statistical analysis. The awareness and ethical evaluation of patients of the promotional activities. Nearly 83% of the participants were aware of the promotion issue. Eighty percent found it unethical, 82% suggested that promotional activities should be forbidden, restricted or regulated. 1/3 of the participants believed that physicians made their drug choices based on the gifts and ads of pharmaceutical companies. Half of them had low confidence in the prescriptions of physicians who accepted gifts from the pharmaceutical companies. 54.5% of patients also considered promotional activities as a factor which increased drug prices. In our study, a considerable number of patients were aware of promotions and the effects of promotion on prescriptions. The findings of our study may contribute to the development of effective regulations on this issue. Very strict measures controlling drug companies' promotion activities must be formulated. Further, these regulations must incorporate and take into consideration the patients' opinion. Today, the basic need for the proper use of drugs does not rest in pharmaceutical promotion, but in providing adequate health services and effective education for both people

Information from pharmaceutical companies and the quality, quantity, and cost of physicians' prescribing: a systematic review.

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Geoffrey K Spurling

2010-10-01

Full Text Available BACKGROUND: Pharmaceutical companies spent $57.5 billion on pharmaceutical promotion in the United States in 2004. The industry claims that promotion provides scientific and educational information to physicians. While some evidence indicates that promotion may adversely influence prescribing, physicians hold a wide range of views about pharmaceutical promotion. The objective of this review is to examine the relationship between exposure to information from pharmaceutical companies and the quality, quantity, and cost of physicians' prescribing. METHODS AND FINDINGS: We searched for studies of physicians with prescribing rights who were exposed to information from pharmaceutical companies (promotional or otherwise. Exposures included pharmaceutical sales representative visits, journal advertisements, attendance at pharmaceutical sponsored meetings, mailed information, prescribing software, and participation in sponsored clinical trials. The outcomes measured were quality, quantity, and cost of physicians' prescribing. We searched Medline (1966 to February 2008, International Pharmaceutical Abstracts (1970 to February 2008, Embase (1997 to February 2008, Current Contents (2001 to 2008, and Central (The Cochrane Library Issue 3, 2007 using the search terms developed with an expert librarian. Additionally, we reviewed reference lists and contacted experts and pharmaceutical companies for information. Randomized and observational studies evaluating information from pharmaceutical companies and measures of physicians' prescribing were independently appraised for methodological quality by two authors. Studies were excluded where insufficient study information precluded appraisal. The full text of 255 articles was retrieved from electronic databases (7,185 studies and other sources (138 studies. Articles were then excluded because they did not fulfil inclusion criteria (179 or quality appraisal criteria (18, leaving 58 included studies with 87 distinct

Clinical trial allocation in multinational pharmaceutical companies - a qualitative study on influential factors.

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Dombernowsky, Tilde; Haedersdal, Merete; Lassen, Ulrik; Thomsen, Simon F

2017-06-01

Clinical trial allocation in multinational pharmaceutical companies includes country selection and site selection. With emphasis on site selection, the overall aim of this study was to examine which factors pharmaceutical companies value most when allocating clinical trials. The specific aims were (1) to identify key decision makers during country and site selection, respectively, (2) to evaluate by which parameters subsidiaries are primarily assessed by headquarters with regard to conducting clinical trials, and (3) to evaluate which site-related qualities companies value most when selecting trial sites. Eleven semistructured interviews were conducted among employees engaged in trial allocation at 11 pharmaceutical companies. The interviews were analyzed by deductive content analysis, which included coding of data to a categorization matrix containing categories of site-related qualities. The results suggest that headquarters and regional departments are key decision makers during country selection, whereas subsidiaries decide on site selection. Study participants argued that headquarters primarily value timely patient recruitment and quality of data when assessing subsidiaries. The site-related qualities most commonly emphasized during interviews were study population availability, timely patient recruitment, resources at the site, and site personnel's interest and commitment. Costs of running the trials were described as less important. Site personnel experience in conducting trials was described as valuable but not imperative. In conclusion, multinational pharmaceutical companies consider recruitment-related factors as crucial when allocating clinical trials. Quality of data and site personnel's interest and commitment are also essential, whereas costs seem less important. While valued, site personnel experience in conducting clinical trials is not imperative.

THE R&D AND THE INTERNATIONALIZATION OF BUSINESS ORGANIZATIONS. THE CASE OF PHARMACEUTICAL COMPANIES

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Alexandra-Maria GALAN

2016-06-01

Full Text Available Research and development represents one of the key activities of the business environment which shows company’s ability of continuous development. The interest in research and development can be observed in the global companies goals of being innovative by the goods and products offered. Combing these two elements helps improving company’s competitiveness which has a major contribution in the development of some strategic arias like health, energy or industry. The level of development of a company and the degree of diversification of the products and services offered is different from company to company, which highlights the fact that in the process of internationalization companies need to be focused to work on their advantages in order to keep the competition away. In these sort of cases companies decide to pay a particular attention in assigning resources for specific activities of research and development. The success of the pharmaceutical companies depends of the of research and development activity which objectives is to encourage creativity and innovation regarding the development of new medicines or other pharmaceutical products. The pharmaceutical industry would not be able to evolve without massive investments in research and development which is the base of the evolution of the company. On the other hand, the more they invest in research and development, the companies tend to expand their activity abroad in order to promote the comparative advantages obtained by the activity of research.

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

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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.

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.

The impact of generic substitution on the activities of pharmaceutical companies - a survey from the companies' perspective one year and five years after the introduction of generic substitution in finland.

Science.gov (United States)

Timonen, Johanna; Bengtström, Marina; Karttunen, Pekka; Ahonen, Riitta

2010-10-22

Mandatory generic substitution (GS) was introduced in Finland on 1 April 2003. The aim of this study was to explore and compare the impacts of GS on the activities of pharmaceutical companies representing mainly original or generic pharmaceutical products in Finland. The self-reported impact of GS from pharmaceutical companies' perspective was explored with a focus on the number of employees, the range of sales packages on the market, the marketing activities, the research and development of new pharmaceutical products and storage of pharmaceuticals. A cross-sectional postal survey was conducted among pharmaceutical companies with an office in Finland and substitutable medicines in the Finnish pharmaceutical market one year (2004) and five years (2008) after the introduction of GS. Completed questionnaires were returned by 16 original and 7 generic product companies in 2004 (response rate 56%, n = 41) and by 16 original and 6 generic product companies in 2008 (response rate 56%, n = 39). Descriptive statistical analyses were performed. The number of employees (2004: n = 6/16, 2008: n = 7/16) and the amount of prescription medicine marketing (2004: n = 7/16, 2008: n = 8/16) decreased in many of the original product companies after the introduction of GS. GS resulted in problems related to the storage of pharmaceuticals in the original product companies shortly after GS was introduced (p = 0.032 between 2004 and 2008). In the generic product companies, the prescription medicine representatives' visits to pharmacies increased at the beginning of GS (p = 0.021 between 2004 and 2008). In addition, GS caused problems with the storage of pharmaceuticals one year and five years after the reform (2004: n = 4/7, 2008: n = 3/6). The differences between original and generic product companies regarding the impacts of GS were not, however, statistically significant. GS did not affect on the range of sales packages on the market or the research activities of the majority of

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...

Structural changes in the German pharmaceutical market: price setting mechanisms based on the early benefit evaluation.

Science.gov (United States)

Henschke, Cornelia; Sundmacher, Leonie; Busse, Reinhard

2013-03-01

In the past, free price setting mechanisms in Germany led to high prices of patented pharmaceuticals and to increasing expenditures in the pharmaceutical sector. In order to control patented pharmaceutical prices and to curb increasing pharmaceutical spending, the Act for Restructuring the Pharmaceutical Market in Statutory Health Insurance (AMNOG) came into effect on 1st January 2011. In a structured dossier, pharmaceutical manufacturers have to demonstrate the additional therapeutic benefit of the newly approved pharmaceutical compared to its appropriate comparator. According to the level of additional benefit, pharmaceuticals will be subject to price negotiations between the Federal Association of Statutory Health Insurance Funds and the pharmaceutical company concerned (or assigned to a reference price group in case of no additional benefit). Therefore, the health care reform is a first step to decision making based on "value for money". The process of price setting based on early benefit evaluation has an impact on the German as well as the European pharmaceutical markets. Therefore, these structural changes in Germany are of importance for pricing decisions in many European countries both from a political point of view and for strategic planning for pharmaceutical manufacturers, which may have an effect on insured patients' access to pharmaceuticals. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

Author Self-disclosure Compared with Pharmaceutical Company Reporting of Physician Payments.

Science.gov (United States)

Alhamoud, Hani A; Dudum, Ramzi; Young, Heather A; Choi, Brian G

2016-01-01

Industry manufacturers are required by the Sunshine Act to disclose payments to physicians. These data recently became publicly available, but some manufacturers prereleased their data since 2009. We tested the hypotheses that there would be discrepancies between manufacturers' and physicians' disclosures. The financial disclosures by authors of all 39 American College of Cardiology and American Heart Association guidelines between 2009 and 2012 were matched to the public disclosures of 15 pharmaceutical companies during that same period. Duplicate authors across guidelines were assessed independently. Per the guidelines, payments disclosure was poor (κ = 0.238). There was a significant difference in error rates of disclosure among companies and authors (P = .019). Of disclosures by authors, companies failed to match them with an error rate of 71.6%. Of disclosures by companies, authors failed to match them with an error rate of 54.7%. Our analysis shows a concerning level of disagreement between guideline authors' and pharmaceutical companies' disclosures. Without ability for physicians to challenge reports, it is unclear whether these discrepancies reflect undisclosed relationships with industry or errors in reporting, and caution should be advised in interpretation of data from the Sunshine Act. Copyright © 2016 Elsevier Inc. All rights reserved.

Legal and ethical obligations to conduct a clinical drug trial in Australia as an investigator initiated and sponsored study for an overseas pharmaceutical company.

Science.gov (United States)

Beran, Roy G

2004-01-01

Most multi-centre trials are both financed and sponsored by the pharmaceutical company involved. What follows will map the path adopted for an investigator initiated and sponsored study for a new indication of an established medication. The chief investigators of a company-sponsored, investigator-initiated, multi-centre, placebo-controlled study of an established medication, Pharmaceutical Benefit Scheme (PBS) listed for treatment of one condition but trialled in the management of another condition (trial of off-label use), were approached to submit a protocol to repeat the type of study with a different compound. The new study would test a different agent, also PBS listed, for the same condition as in the initial study and with the same off-licence application. The company would finance the study, provide the medication and matched placebo but only review the investigator-initiated protocol which would be sponsored by the principal investigator. This required the investigator to implement the trial, as would normally be done by the pharmaceutical company, yet also act as its principal investigator. The principal investigator, with colleagues and a Clinical Research Organisation (CRO), developed a protocol, adapted for the new agent, and submitted it for approval. Upon acceptance a contract was negotiated with the pharmaceutical company which had to overcome jurisdictional conflicts between common law and civil law legal systems. A CRO was contracted to undertake administrative functions which dictated special contractual agreements to overcome possible conflicts of interest for a sponsor/investigator to protect patient interests. There was need to find indemnification insurance with jurisdictional problems, co-investigators, ethics committee approvals and finance management as just some of the difficulties encountered. The paper will outline how these obstacles were overcome and how ethical and legal issues were respected through compromise. The ethical and legal

Pharmaceutical companies and their drugs on social media: a content analysis of drug information on popular social media sites.

Science.gov (United States)

Tyrawski, Jennifer; DeAndrea, David C

2015-06-01

Many concerns have been raised about pharmaceutical companies marketing their drugs directly to consumers on social media. This form of direct-to-consumer advertising (DTCA) can be interactive and, because it is largely unmonitored, the benefits of pharmaceutical treatment could easily be overemphasized compared to the risks. Additionally, nonexpert consumers can share their own drug product testimonials on social media and illegal online pharmacies can market their services on popular social media sites. There is great potential for the public to be exposed to misleading or dangerous information about pharmaceutical drugs on social media. Our central aim was to examine how pharmaceutical companies use social media to interact with the general public and market their drugs. We also sought to analyze the nature of information that appears in search results for widely used pharmaceutical drugs in the United States on Facebook, Twitter, and YouTube with a particular emphasis on the presence of illegal pharmacies. Content analyses were performed on (1) social media content on the Facebook, Twitter, and YouTube accounts of the top 15 pharmaceutical companies in the world and (2) the content that appears when searching on Facebook, Twitter, and YouTube for the top 20 pharmaceutical drugs purchased in the United States. Notably, for the company-specific analysis, we examined the presence of information similar to various forms of DTCA, the audience reach of company postings, and the quantity and quality of company-consumer interaction. For the drug-specific analysis, we documented the presence of illegal pharmacies, personal testimonials, and drug efficacy claims. From the company-specific analysis, we found information similar to help-seeking DTCA in 40.7% (301/740) of pharmaceutical companies' social media posts. Drug product claims were present in only 1.6% (12/740) of posts. Overall, there was a substantial amount of consumers who interacted with pharmaceutical

[Anti-counterfeit activities of pharmaceutical companies in Japan: for patient safety].

Science.gov (United States)

Shofuda, Ken-ichi; Aragane, Katsumi; Igari, Yasutaka; Matsumoto, Kinya; Ito, Kazuya

2014-01-01

Global spread of counterfeit medicines is an imminent threat for the patients' safety. Although major targets of counterfeits are still erectile dysfunction (ED) drugs in the industrialized countries, including Japan, anti-cancer agents and some medicines for metabolic syndromes are also being counterfeited and circulated to the market mainly through the Internet. Due to the global expansion of the business, pharmaceutical companies based in Japan are suffering from the damage of counterfeits, illegal sales including diversion, and thefts, which have never been experienced in the conventional domestic market. We, pharmaceutical companies, must be responsible for the prevention of the prevalence because our mission is to deliver effective and safe medicine to patients. For this end, we are taking necessary actions including, 1. Forestalling counterfeit, falsification and illicit trade: Measures to prevent counterfeiting are taken by introducing anti-counterfeit technologies to the packaging and tablets on a risk basis. It is also important to establish supply chain security on a global scale. 2. Finding out counterfeits and cooperating crackdown: We are conducting market and internet surveillances when high risk products are sold in high risk markets. The outcome of the criminal investigation is reported to authorities and police if necessary. 3. Conducting educational campaign to medical staff or patients: For example, four companies which manufacture and sell ED drug in Japan are collaboratively continuing activities to raise the awareness of the danger of Internet purchase. To deliver effective and safe medicines stably and globally, pharmaceutical companies extend comprehensive measures against counterfeit and illicit trading.

75 FR 70703 - Humana Insurance Company a Division of Carenetwork, Inc. Front End Operations and Account...

Science.gov (United States)

2010-11-18

... DEPARTMENT OF LABOR Employment and Training Administration [TA-W-74,281] Humana Insurance Company... negative determination regarding the eligibility of workers and former workers of Humana Insurance Company... workers in the group threatened with total or partial separation from employment on date of certification...

Pharmaceutical Companies and Their Drugs on Social Media: A Content Analysis of Drug Information on Popular Social Media Sites

Science.gov (United States)

2015-01-01

Background Many concerns have been raised about pharmaceutical companies marketing their drugs directly to consumers on social media. This form of direct-to-consumer advertising (DTCA) can be interactive and, because it is largely unmonitored, the benefits of pharmaceutical treatment could easily be overemphasized compared to the risks. Additionally, nonexpert consumers can share their own drug product testimonials on social media and illegal online pharmacies can market their services on popular social media sites. There is great potential for the public to be exposed to misleading or dangerous information about pharmaceutical drugs on social media. Objective Our central aim was to examine how pharmaceutical companies use social media to interact with the general public and market their drugs. We also sought to analyze the nature of information that appears in search results for widely used pharmaceutical drugs in the United States on Facebook, Twitter, and YouTube with a particular emphasis on the presence of illegal pharmacies. Methods Content analyses were performed on (1) social media content on the Facebook, Twitter, and YouTube accounts of the top 15 pharmaceutical companies in the world and (2) the content that appears when searching on Facebook, Twitter, and YouTube for the top 20 pharmaceutical drugs purchased in the United States. Notably, for the company-specific analysis, we examined the presence of information similar to various forms of DTCA, the audience reach of company postings, and the quantity and quality of company-consumer interaction. For the drug-specific analysis, we documented the presence of illegal pharmacies, personal testimonials, and drug efficacy claims. Results From the company-specific analysis, we found information similar to help-seeking DTCA in 40.7% (301/740) of pharmaceutical companies’ social media posts. Drug product claims were present in only 1.6% (12/740) of posts. Overall, there was a substantial amount of consumers

The impact of total quality management on competitive advantage of pharmaceutical manufacturing companies in Jordan

OpenAIRE

Kamal A. M. Al-Qudah

2012-01-01

TQM is a general philosophy of management that attempts to enhance competitive advantage of organizations, This paper aims to investigate the impact of total quality management on competitive advantage of Pharmaceutical manufacturing companies in Jordan. The data are collected from mid- to senior-level managerial employees of Pharmaceutical manufacturing companies in Jordan. The data were analyzed using correlation and multiple regression analyses. The results indicate that, there is effec...

Validity of tools used for surveying physicians about their interactions with pharmaceutical company: a systematic review.

Science.gov (United States)

Lotfi, Tamara; Morsi, Rami Z; Zmeter, Nada; Godah, Mohammad W; Alkhaled, Lina; Kahale, Lara A; Nass, Hala; Brax, Hneine; Fadlallah, Racha; Akl, Elie A

2015-11-25

There is evidence that physicians' prescription behavior is negatively affected by the extent of their interactions with pharmaceutical companies. In order to develop and implement policies and interventions for better management of interactions, we need to understand physicians' perspectives on this issue. Surveys addressing physicians' interactions with pharmaceutical companies need to use validated tools to ensure the validity of their findings. To assess the validity of tools used in surveys of physicians about the extent and nature of their interactions with pharmaceutical companies, and about their knowledge, beliefs and attitudes towards such interactions; and to identify those tools that have been formally validated. We developed a search strategy with the assistance of a medical librarian. We electronically searched MEDLINE and EMBASE databases in September 2015. Teams of two reviewers conducted data selection and data abstraction. They identified eligible studies in one table and then abstracted the relevant data from the studies with validated tools in another table. Tables were piloted and standardized. We identified one validated questionnaire out of the 11 assessing the nature and extent of the interaction, and three validated questionnaires out of the 47 assessing knowledge, beliefs and attitudes of physicians toward the interaction. None of these validated questionnaires were used in more than one survey. The available supporting evidence of the issue of physicians' interaction with pharmaceutical company is of low quality. There is a need for research to develop and validate tools to survey physicians about their interactions with pharmaceutical companies.

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

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

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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.

Outsourcing of Regulatory Affairs Tasks in Pharmaceutical Companies-Why and What?

OpenAIRE

Gummerus, Anu; Airaksinen, Marja; Bengtström, Mia; Juppo, Anne

2016-01-01

The purpose of this study was to investigate what kind of regulatory affairs tasks is outsourced in the pharmaceutical industry and what are the reasons for outsourcing in the EU countries. The study was conducted as an e-mail survey in the pharmaceutical industry in Finland, Sweden, Estonia, Germany, and Spain, focusing on those companies that undertake regulatory affairs. The survey received 71 completed responses out of 147, a response rate of 48 %. The most outsourced tasks were related t...

Patient organizations' funding from pharmaceutical companies: is disclosure clear, complete and accessible to the public? An Italian survey.

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Cinzia Colombo

Full Text Available BACKGROUND: Many patients' and consumers' organizations accept drug industry funding to support their activities. As drug companies and patient groups move closer, disclosure become essential for transparency, and the internet could be a useful means of making sponsorship information accessible to the public. This survey aims to assess the transparency of a large group of Italian patient and consumer groups and a group of pharmaceutical companies, focusing on their websites. METHODOLOGY/PRINCIPAL FINDINGS: Patient and consumer groups were selected from those stated to be sponsored by a group of pharmaceutical companies on their websites. The websites were examined using two forms with principal (name of drug companies providing funds, amount of funding and secondary indicators of transparency (section where sponsors are disclosed, update of sponsorship. Principal indicators were applied independently by two reviewers to the patient and consumer groups' websites. Discordances were solved by discussion. One hundred fifty-seven Italian patient and consumer groups and 17 drug companies were considered. Thirteen drug companies (76% named at least one group funded, on their Italian websites. Of these, four (31% indicated the activities sponsored and two (15% the amount of funding. Of the 157 patient and consumer groups, 46 (29% named at least one pharmaceutical company as providing funds. Three (6% reported the amount of funding, 25 (54% the activities funded, none the proportion of income derived from drug companies. Among the groups naming pharmaceutical company sponsors, 15 (33% declared them in a dedicated section, five (11% on the home page, the others in the financial report or other sections. CONCLUSIONS/SIGNIFICANCE: Disclosure of funds is scarce on Italian patient and consumer groups' websites. The levels of transparency need to be improved. Disclosure of patient and consumer groups provided with funds is frequent on Italian pharmaceutical

Survey of practices around pharmaceutical company funding for continuing professional development among medical oncologists and trainees in Australia.

Science.gov (United States)

Lee, Yeh Chen; Kroon, René; Koczwara, Bogda; Haines, Ian; Francis, Kay; Millward, Michael; Kefford, Richard; Olver, Ian; Mileshkin, Linda

2017-08-01

The completion of continuing professional development (CPD) is mandatory for medical oncologists and trainees (MO&T). Pharmaceutical companies may fund some CPD activities, but there is increasing debate about the potential for conflicts of interest (COI). To assess current practices around funding to attend CPD activities. An electronic survey was distributed to Australian MO&T. The survey asked questions about current practices, institutional policies and perceptions about attending CPD funded by pharmaceutical companies. The design looked at comparing responses between MO&T as well as their understanding of and training around institutional and ethical process. A total of 157 of 653 (24%) responses was received, the majority from MO (76%). Most CPD activities attended by MO&T were self-funded (53%), followed by funding from institutions (19%), pharmaceutical companies (16%) and salary award (16%). Most institutions allowed MO&T to receive CPD funding from professional organisations (104/157, 66%) or pharmaceutical companies (90/157, 57%). A minority of respondents (13/157, 8%) reported that the process to use pharmaceutical funds had been considered by an ethics committee. Although 103/157 (66%) had received pharmaceutical funding for CPD, most (109/157, 69%) reported never receiving training about potential COI. The lack of education was more noticeable among trainees (odds ratio (OR) 8.61, P = 0.02). MO&T acknowledged the potential bias towards a pharmaceutical product (P = 0.05) but believed there was adequate separation between themselves and pharmaceutical companies (P < 0.01). Majority of CPD attended by MO&T is self-funded. There is lack of clarity in institutional policies regarding external funding support for CPD activities. Formal education about potential COI is lacking. © 2017 Royal Australasian College of Physicians.

Do cost-sharing and entry deregulation curb pharmaceutical innovation?

Science.gov (United States)

Grossmann, Volker

2013-09-01

This paper examines the role of both cost-sharing schemes in health insurance systems and the regulation of entry into the pharmaceutical sector for pharmaceutical R&D expenditure and drug prices. The analysis suggests that both an increase in the coinsurance rate and stricter price regulations adversely affect R&D spending in the pharmaceutical sector. In contrast, entry deregulation may lead to higher R&D spending of pharmaceutical companies. The relationship between R&D spending per firm and the number of firms may be hump-shaped. In this case, the number of rivals which maximizes R&D expenditure per firm is decreasing in the coinsurance rate and increasing in labor productivity. Copyright © 2013 Elsevier B.V. All rights reserved.

Situation analysis of R & d activities: an empirical study in Iranian pharmaceutical companies.

Science.gov (United States)

Rasekh, Hamid Reza; Mehralian, Gholamhossein; Vatankhah-Mohammadabadi, Abbas Ali

2012-01-01

As global competition intensifies, research and development (R & D) organizations need to enhance their strategic management in order to become goal-directed communities for innovation and allocate their resources consistent with their overall R & D strategy. The world pharmaceutical market has undergone fast, unprecedented, tremendous and complex changes in the last several years. The pharmaceutical industry is today still one of the most inventive, innovative and lucrative of the so-called "high-tech" industries. This industry serves a dual role in modern society. On one hand, it is a growing industry, and its output makes a direct contribution to gross domestic product (GDP). On the other side, drugs, this industry's major output, are an input in the production of good health. The purpose of this study is to evaluate R & D activities of pharmaceutical companies, and also to highlight critical factors which have influential effect on results of these activities. To run this study a valid questionnaire based on literature review and experts' opinion was designed and delivered to 11 pharmaceutical companies. Empirical data show there is not acceptable situations considering of the factors that should be taken in to account by managers including; management commitment, human resource management, information technology and financial management. Furthermore, we concluded some interesting results related to different aspects of R & D management. In conclusion, managers must be aware about their performance in R & D activities, accordingly they will able to take a comprehensive policy in both national and within the company.

The effect of educational gifts from pharmaceutical firms on medical students' recall of company names or products.

Science.gov (United States)

Sandberg, W S; Carlos, R; Sandberg, E H; Roizen, M F

1997-10-01

To assess the influence of pharmaceutical advertising (in the form of books) directed at medical students and also to examine students' attitudes toward pharmaceutical representatives after interacting with them. Two groups of fourth-year medical students were surveyed: 166 residency applicants to the Department of Anesthesia and Critical Care between 1991 and 1993, who were questioned during their personal interviews with the department chair, and 39 fourth-year students from the University of Chicago Pritzker School of Medicine in 1994-95, who were surveyed by telephone. The students were asked if they had ever received a book from a pharmaceutical representative and, if so, to name the book. Then they were asked to name the book-giving company or a product associated with the company. Responses were compared using chi-square analysis. In all, 90% of the students had received one or more books and accurately recalled titles for 89% of them. However, only 25% of the named books were accurately associated with a pharmaceutical company or product. The Pritzker students, asked to recall interactions with pharmaceutical representatives, reported being skeptical of representatives who ignored them because they were students, but they rated as helpful and informative those who conversed with them or gave them gifts. Although gifts to medical students do not necessarily engender company or product recall, attention paid to medical students by pharmaceutical representatives engenders goodwill toward the representatives and their messages.

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

Ethics of pharmaceutical company relationships with the nursing profession: no free lunch...and no more pens?

Science.gov (United States)

Crock, Elizabeth

2009-10-01

In recent years, nurses have increasingly become recipients of pharmaceutical company gifts, funding and sponsorship. There has been little discussion in the nursing literature, however, of the ethical and professional implications of nurses' acceptance of such sponsorship. This article examines ethical issues related to the issue of nurses' accepting benefits from pharmaceutical companies (and other commercial enterprises). It aims to encourage nurses to look critically at the implications of accepting such gifts/sponsorship, or to enter any form of relationship with commercial companies within the health sector, and to stimulate further discussion of this issue within the profession.

[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

Pharmaceutical market in Serbia

Directory of Open Access Journals (Sweden)

Veselin Tima Dickov

2012-02-01

Full Text Available Marketing concept formed around the focus on the consumers, their needs, wants and demands, evolves in the case of pharmaceutical into a care of the complex interest of constituents generating demand on this market and #8211; pres scribers whose role is to select therapies, pharmacists who dispense drugs within a specialized distribution channel to the final consumer -patient, alongside the payers and #8211; the state and or insurance companies refund a part of or total costs of the pharmaceutical product. A special challenge that the subject raises is the existence of controversy generated from two sources. Marketing controversy stems from criticism leveled at the effectiveness and efficiency of marketing activities and the debatable ethical code of conduct. [J Intercult Ethnopharmacol 2012; 1(1.000: 44-51

Russian Pharmaceutical Companies Export Potential in Emerging Regional Clusters

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Elena Vladimirovna Sapir

2016-12-01

Full Text Available This article analyzes a diverse range of the enterprise’s export potential growth factors in emerging pharmaceutical clusters of Central European Russia. Classification and comparative analysis were used to identify export potential attributes (production, finance, labor and marketing, which have allowed to reveal the strong connection of cluster and regional factor groups with the results of export performance. The purpose of the study is to provide exports-seeking pharmaceutical companies with a set of tools to enhance their export potential. The hypothesis that the cumulative impact of the specified attributes leads to the strengthening of pharmaceutical cluster export potential and promotes an effective integration of the region in the world economic space, is developed and tested. The methodology combines the geo-economy-based theory with the theory of clusters competitive advantages. The impacts of export potential growth factors are estimated by using an econometric model based on math statistics. Thus, five Russian regional pharmaceutical clusters (Belgorod, Kaluga, Moscow, Oryol, Yaroslavl are shown. Findings identify an objective causal link between enterprise export potential growth and competitiveness factors of cluster origin (network business chains, production functions interconnectedness and flexibility, production localization. An action plan for the purpose of the maximum use of competitive advantages of the cluster organization for export activities of the entities of the pharmaceutical industry is developed. Conclusions and recommendations of the study are intended to enterprises in pharmaceutical industry and regions’ public authorities, implementing cluster development strategies. It is thus essential to improve marketing and organizational innovations, reduction of commercial expenses under the cluster environment, development of drugs production and delivery chains from R&D to end-users in order to enjoy greater

Pharmaceutical companies and healthcare providers : Going beyond the gift. An explorative review

NARCIS (Netherlands)

Latten, Tom; Westra, Daan; Angeli, Federica; Paulus, Aggie; Struss, Marleen; Ruwaard, Dirk

2018-01-01

Introduction: Interactions between pharmaceutical companies and healthcare providers are increasingly scrutinized by academics, professionals, media, and politicians. Most empirical studies and professional guidelines focus on unilateral donor-recipient types of interaction and overlook, or fail to

Risk Analysis for Performance Improvement in a Romanian Pharmaceutical Company

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Dana Corina Deselnicu

2018-05-01

Full Text Available The paper presents risk management analysis carried out to investigate the operations of a Romanian company dealing with the distribution of pharmaceutical products. The main risks challenging the company were identified, described and classified, providing a scientific base for further analysis. Then, the identified inherent risks were evaluated using tools as the risk index method and the risk matrix in order to emphasize their tolerance level. According to the results of the evaluation, risk mitigation strategies and measures were advanced for the management of the analysed risks. Relevant conclusions were drawn from the experience.

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...

Impacts of international sanctions on Iranian pharmaceutical market.

Science.gov (United States)

Cheraghali, Abdol Majid

2013-07-31

Iran in recent decade faced several regional and international sanctions in foreign trade, financial and banking services. Iran national pharmaceutical industry has always played a major role in providing medicines to the Iranian patients. However, following the sanctions it has faced profound difficulties for importing of both finished products and pharmaceutical raw materials. Although medicines are exempted from sanctions, due to restriction on money transaction and proper insurance Iranian pharmaceutical companies have to pay cash in advance for imports of medicines and raw materials or to secure offshore funds at very high risks. Current situation in Iran pharmaceutical market confirms that the sanctions against Iran are affecting ordinary citizens and national health sector which resulted to reduction of availability of lifesaving medicines in the local market and has caused increasing pain and suffering for Iranian patients.

Implementation of Supply Chain Management (SCM in pharmaceutical company, general principles and case study

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Zoran Nakov

2014-12-01

Full Text Available Supply Chain Management (SCM in pharmaceutical industry is defined as a “responsible SCM” and its implementation is according to the principles of: business ethics, rights of labor and principles of healthy and safe working environment. Pharmaceutical companies with implemented “responsible SCM” have to use management systems to facilitate continuous improvement in accordance with their working principles. The main purpose of this management system is to ensure the consistency, reliability and continuous improvement of all workflows within an organization.The analyzed case describes the project of European generic pharmaceutical company, which intends to implement best practice SCM operations for five European manufacturing sites and European logistics organizations (active ingredients supply, distribution centers, affiliate customers and third party manufacturers. The main objectives of the project were the creation of the future improved To-Be situation through implementation of new SCM models to the existing To-Day situation.

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

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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.

Corporate preparedness for pandemic influenza: a survey of pharmaceutical and biotechnology companies in Montgomery County, Maryland.

Science.gov (United States)

Watkins, Rissah J; Barnett, Daniel J; Links, Jonathan M

2008-09-01

We conducted a survey of corporate preparedness for pandemic influenza among biotechnology and pharmaceutical companies in Montgomery County, Maryland, to determine the level of preparedness for this industry and geographic region. The survey, based on the HHS Business Pandemic Influenza Planning Checklist, established whether a company had a preparedness plan specific to pandemic influenza, the contents of its plan, or its reasons for a lack of a plan. A total of 50 companies participated in the survey. Of these, 40 did not have any type of preparedness plan, 3 were drafting plans, 6 had general preparedness plans that could be applied to an influenza pandemic, and only 1 company had a preparedness plan specifically designed to address pandemic influenza. Biotechnology and pharmaceutical companies in this geographic region are currently not well prepared for pandemic influenza. Public health officials should offer more help, possibly in the form of a model small business preparedness plan, and collaboration between companies should be encouraged to foster sharing of preparedness plans.

ASSIMILATION OF INVESTMENT POTENTIAL OF INSURANCE COMPANIES THROUGH GOVERNMENT SECURITIES

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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...

Interaction between pharmaceutical companies and physicians who prescribe antiretroviral drugs for treating AIDS

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Mario Cesar Scheffer

Full Text Available CONTEXT AND OBJECTIVE: Given that Brazil has a universal public policy for supplying medications to treat HIV and AIDS, the aim here was to describe the forms of relationship between physicians and the pharmaceutical companies that produce antiretrovirals (ARVs. DESIGN AND SETTING: Cross-sectional epidemiological study conducted in the state of São Paulo. METHODS : Secondary database linkage was used, with structured interviews conducted by telephone among a sample group of 300 physicians representing 2,361 professionals who care for patients with HIV and AIDS. RESULTS : Around two thirds (64% of the physicians prescribing ARVs for HIV and AIDS treatment in the state of São Paulo who were interviewed declared that they had some form of relationship with pharmaceutical companies, of which the most frequent were receipt of publications (54%, visits by sales promoters (51% and receipt of small-value objects (47%. CONCLUSIONS: Two forms of relationship between the pharmaceutical industry and physicians who deal with HIV and AIDS can be highlighted: facilitation of professionals' access to continuing education; and antiretroviral drug brand name promotion.

Pharmaceutical penetration of new drug and pharmaceutical market structure in Taiwan: hospital-level prescription of thiazolidinediones for diabetes.

Science.gov (United States)

Tsai, Yi-Wen; Wen, Yu-Wen; Huang, Weng-Foung; Kuo, Ken N; Chen, Pei-Fen; Shih, Hsin-Wei; Lee, Yue-Chune

2010-06-01

This study used Taiwan's National Health Insurance claim database (years 2000-2005) to examine how thiazolidinediones (TZD), a new class of drugs for diabetes, penetrated into Taiwan's hospitals, and its association with the concentration of all diabetes drugs at the hospital level. We collected 72 monthly summaries of diabetes prescriptions from all hospitals in Taiwan. Hospital-level pharmaceutical concentration was measured by penetration of TZD, defined as monthly market share of TZD in each hospital. Concentration of diabetes drugs was measured by Herfindahl-Hirschman indices. We found a negative association (coefficient = -0.3610) between TZD penetration and concentration of diabetes drug but a positive association between penetration of TZD and the volume of prescribed diabetes drugs (coefficient = 0.4088). In conclusion, hospital characteristics and volume of services determined the concentration of pharmaceuticals at the institution level, reflecting the heterogeneous competition between pharmaceutical companies within each hospital. Institution-level pharmaceutical concentration influences the adoption and penetration of new drugs.

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...

R&D investments for neglected diseases can be sensitive to the economic goal of pharmaceutical companies.

Science.gov (United States)

Dimitri, Nicola

2012-08-01

A fundamental problem with neglected diseases is how to induce pharmaceutical companies to invest resources for developing effective treatments. A recent debate focused on the role of economic incentives represented by monetary transfers to the firms. In this article I focus on the economic goals of pharmaceutical companies, as determinants for R&D effort. In particular, within a stylized framework, the work compares expected profit and expected productivity maximization, arguing that the former in general induces higher R&D investments than the latter. Therefore, as it is currently the case, when pharmaceutical firms focus on productivity, appropriate economic incentives might be needed for them to invest in R&D for neglected diseases. Copyright © 2012 Elsevier Ltd. All rights reserved.

Solvency II approach to the risk management in commercial insurance companies

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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, ...

Changing R&D models in research-based pharmaceutical companies

OpenAIRE

Schuhmacher, Alexander; Gassmann, Oliver; Hinder, Markus

2016-01-01

New drugs serving unmet medical needs are one of the key value drivers of research-based pharmaceutical companies. The efficiency of research and development (R&D), defined as the successful approval and launch of new medicines (output) in the rate of the monetary investments required for R&D (input), has declined since decades. We aimed to identify, analyze and describe the factors that impact the R&D efficiency. Based on publicly available information, we reviewed the R&D models of major re...

Challenges of access to medicine and the responsibility of pharmaceutical companies: a legal perspective.

Science.gov (United States)

Ahmadiani, Saeed; Nikfar, Shekoufeh

2016-05-04

The right to health as a basic human right- and access to medicine as a part of it- have been a matter of attention for several decades. Also the responsibilities of different parties- particularly pharmaceutical companies- in realization of this right has been emphasized by World Health Organization. This is while many companies find no incentive for research and development of medicines related to rare diseases. Also some legal structures such as "patent agreements" clearly cause huge difficulties for access to medicine in many countries. High prices of brand medicine and no legal production of generics can increase the catastrophic costs- as well as morbidity-mortality of medication in lower income countries. Here we evidently review the current challenges in access to medicine and critically assess its legal roots. How societies/governors can make the pharmaceutical companies responsible is also discussed to have a look on possible future and actions that policy makers- in local or global level- can take.

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

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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.

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.

Measuring the efficiency of large pharmaceutical companies: an industry analysis.

Science.gov (United States)

Gascón, Fernando; Lozano, Jesús; Ponte, Borja; de la Fuente, David

2017-06-01

This paper evaluates the relative efficiency of a sample of 37 large pharmaceutical laboratories in the period 2008-2013 using a data envelopment analysis (DEA) approach. We describe in detail the procedure followed to select and construct relevant inputs and outputs that characterize the production and innovation activity of these pharmaceutical firms. Models are estimated with financial information from Datastream, including R&D investment, and the number of new drugs authorized by the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA) considering the time effect. The relative performances of these firms-taking into consideration the strategic importance of R&D-suggest that the pharmaceutical industry is a highly competitive sector given that there are many laboratories at the efficient frontier and many inefficient laboratories close to this border. Additionally, we use data from S&P Capital IQ to analyze 2071 financial transactions announced by our sample of laboratories as an alternative way to gain access to new drugs, and we link these transactions with R&D investment and DEA efficiency. We find that efficient laboratories make on average more financial transactions, and the relative size of each transaction is larger. However, pharmaceutical companies that simultaneously are more efficient and invest more internally in R&D announce smaller transactions relative to total assets.

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...

STOCHASTIC MODELING OF OPTIMIZED CREDIT STRATEGY OF A DISTRIBUTING COMPANY ON THE PHARMACEUTICAL MARKET

Directory of Open Access Journals (Sweden)

M. Boychuk

2015-10-01

Full Text Available The activity of distribution companies is multifaceted. Ihey establish contacts with producers and consumers, determine the range of prices of medicines, do promotions, hold stocks of pharmaceuticals and take risks in their further selling.Their internal problems are complicated by the political crisis in the country, decreased purchasing power of national currency, and the rise in interest rates on loans. Therefore the usage of stochastic models of dynamic systems for the research into optimizing the management of pharmaceutical products distribution companies taking into account credit payments is of great current interest. A stochastic model of the optimal credit strategy of a pharmaceutical distributor in the market of pharmaceutical products has been constructed in the article considering credit payments and income limitations. From the mathematical point of view the obtained problem is the one of stochastic optimal control where the amount of monetary credit is the control and the amount of pharmaceutical product is the solution curve. The model allows to identify the optimal cash loan and the corresponding optimal quantity of pharmaceutical product that comply with the differential model of the existing quantity of pharmaceutical products in the form of Ito; the condition of the existing initial stock of pharmaceutical products; the limitation on the amount of credit and profit received from the product selling and maximize the average integral income. The research of the stochastic optimal control problem involves the construction of the left process of crediting with determination of the shift point of that control, the choice of the right crediting process and the formation of the optimal credit process. It was found that the optimal control of the credit amount and the shift point of that control are the determined values and don’t depend on the coefficient in the Wiener process and the optimal trajectory of the amount of

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...

Adverse-drug-event data provided by pharmaceutical companies.

Science.gov (United States)

Cudny, Magdalena E; Graham, Angie S

2008-06-01

Pharmaceutical company drug information center (PCDIC) responses to queries about adverse drug events (ADEs) were studied to determine whether PCDICs search sources other than the prescribing information on the package insert (PI) and whether the PCDICs' approach differs according to whether an ADE is listed in the PI (labeled) or not (unlabeled). Companies were selected from a list of PCDICs in the Physicians' Desk Reference. One oral or injectable prescription drug from each company was selected. For each drug, a labeled ADE and an unlabeled ADE about which to query the PCDICs were randomly selected from the index of an annual publication on ADEs. The investigators telephoned the PCDICs with an open-ended inquiry about the incidence, timing, and management of the ADE as reported in the literature and the company's internal data; they clarified that the request did not concern a specific patient. Whether or not information was provided, the source searched was recorded (PI, literature, internal database), and the percentages of PCDICs that used each source for labeled and for unlabeled ADEs were analyzed. Results were obtained from 100 companies to questions about 100 drugs (200 ADEs). For ADEs overall, 80% used the PI, 50% the medical literature, and 38% internal data. For labeled versus unlabeled ADEs, respectively, the PI was used by 84% and 76%; literature, both 50%; and internal data, 35% and 41%. The PCDIC specialists referencing the PI did not always provide accurate or up-to-date information. Some specialists, when asked to query internal databases, said that was not an option. For both labeled and unlabeled ADEs, the PI was the primary source used by PCDICs to answer safety questions about their products, and internal data were the least-used source. Most resources used by PCDICs are readily available to practicing pharmacists.

Gateway to the Future. Skill Standards for the Bioscience Industry for Technical Workers in Pharmaceutical Companies, Biotechnology Companies, and Clinical Laboratories.

Science.gov (United States)

Education Development Center, Inc., Newton, MA.

The Bioscience Industry Skills Standards Project (BISSP) is developing national, voluntary skill standards for technical jobs in biotechnology and pharmaceutical companies and clinical laboratories in hospitals, universities, government, and independent settings. Research with employees and educators has pinpointed three issues underscoring the…

Attitudes of medical students towards incentives offered by pharmaceutical companies- perspective from a developing nation- a cross sectional study

Science.gov (United States)

2014-01-01

Background A training physician has his first interaction with a pharmaceutical representative during medical school. Medical students are often provided with small gifts such as pens, calendars and books, as well as free lunches as part of drug promotion offers. Ethical impact of these transactions as perceived by young medical students has not been investigated in Pakistan before. This study aimed to assess the association of socio-demographic variables with the attitudes of medical students towards pharmaceutical companies and their incentives. Methods As part of a cross-sectional survey, a validated questionnaire previously used for assessing attitude of medical students towards pharmaceutical industry, was modified, pre-tested and distributed among consenting clinical year students at DUHS and AKU. Questions included acceptability of pharmaceutically sponsored gifts, events and tuition fee, and their impact on future prescription. Responses were graded as agree, disagree or neutral which were then scored according to the AMSA guidelines of ethical conduct. Results Out of a total of 353 targeted students 303 responded, corresponding to a response rate of 85.8%. Responses indicated that 42.7% students believed in no interaction with drug companies during medical school. However, 81% of students favored pharmaceutical sponsorship of student-body events/seminars at medical colleges. More than one-third of the students were comfortable receiving gifts from drug companies. Overall, the results of this study offer an interesting comparison between the students of a private medical school (AKU) and a public medical school (DUHS); AKU students exhibited a greater degree of mistrust towards drug information provided by pharmaceutical companies compared to DUHS students (p = 0.040). Furthermore, when asked if there was a need to incorporate guidelines in the undergraduate curriculum with regard to interaction with drug companies, 84.2% students at AKU agreed

Attitudes of medical students towards incentives offered by pharmaceutical companies -- perspective from a developing nation -- a cross-sectional study.

Science.gov (United States)

Siddiqui, Usman Tariq; Shakoor, Amarah; Kiani, Sarah; Ali, Farwa; Sharif, Maryam; Kumar, Arun; Raza, Qasim; Khan, Naseer; Alamzaib, Sardar Mohammed; Farid-ul-Husnain, Syed

2014-05-05

A training physician has his first interaction with a pharmaceutical representative during medical school. Medical students are often provided with small gifts such as pens, calendars and books, as well as free lunches as part of drug promotion offers. Ethical impact of these transactions as perceived by young medical students has not been investigated in Pakistan before. This study aimed to assess the association of socio-demographic variables with the attitudes of medical students towards pharmaceutical companies and their incentives. As part of a cross-sectional survey, a validated questionnaire previously used for assessing attitude of medical students towards pharmaceutical industry, was modified, pre-tested and distributed among consenting clinical year students at DUHS and AKU. Questions included acceptability of pharmaceutically sponsored gifts, events and tuition fee, and their impact on future prescription. Responses were graded as agree, disagree or neutral which were then scored according to the AMSA guidelines of ethical conduct. Out of a total of 353 targeted students 303 responded, corresponding to a response rate of 85.8%. Responses indicated that 42.7% students believed in no interaction with drug companies during medical school. However, 81% of students favored pharmaceutical sponsorship of student-body events/seminars at medical colleges. More than one-third of the students were comfortable receiving gifts from drug companies. Overall, the results of this study offer an interesting comparison between the students of a private medical school (AKU) and a public medical school (DUHS); AKU students exhibited a greater degree of mistrust towards drug information provided by pharmaceutical companies compared to DUHS students (p = 0.040). Furthermore, when asked if there was a need to incorporate guidelines in the undergraduate curriculum with regard to interaction with drug companies, 84.2% students at AKU agreed, compared to 54.9% at DUHS. Medical

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...

Serbian insurance market: Select issues

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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.

Renal studies in safety pharmacology and toxicology: A survey conducted in the top 15 pharmaceutical companies.

Science.gov (United States)

Benjamin, Amanda; Gallacher, David J; Greiter-Wilke, Andrea; Guillon, Jean-Michel; Kasai, Cheiko; Ledieu, David; Levesque, Paul; Prelle, Katja; Ratcliffe, Sian; Sannajust, Frederick; Valentin, Jean-Pierre

2015-01-01

With the recent development of more sensitive biomarkers to assess kidney injury preclinically, a survey was designed i) to investigate what strategies are used to investigate renal toxicity in both ICH S7A compliant Safety Pharmacology (SP) studies after a single dose of a compound and within repeat-dose toxicity studies by large pharmaceutical companies today; ii) to understand whether renal SP studies have impact or utility in drug development and/or if it may be more appropriate to assess renal effects after multiple doses of compounds; iii) to ascertain how much mechanistic work is performed by the top 15 largest pharmaceutical companies (as determined by R&D revenue size); iv) to gain an insight into the impact of the validation of DIKI biomarkers and their introduction in the safety evaluation paradigm; and v) to understand the impact of renal/urinary safety study data on progression of projects. Two short anonymous surveys were submitted to SP leaders of the top 15 pharmaceutical companies, as defined by 2012 R&D portfolio size. Fourteen multiple choice questions were designed to explore the strategies used to investigate renal effects in both ICH S7A compliant SP studies and within toxicology studies. A 67% and 60% response rate was obtained in the first and second surveys, respectively. Nine out of ten respondent companies conduct renal excretory measurements (eg. urine analysis) in toxicology studies whereas only five out of ten conduct specific renal SP studies; and all of those 5 also conduct the renal excretory measurements in toxicology studies. These companies measure and/or calculate a variety of parameters as part of these studies, and also on a case by case basis include regulatory qualified and non-qualified DIKI biomarkers. Finally, only one company has used renal/urinary functional data alone to stop a project, whereas the majority of respondents combine renal data with other target organ assessments to form an integrated decision-making set

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

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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.

Is there an improvement on the Web sites of the national and international pharmaceutical companies in Turkey? A follow-up study.

Science.gov (United States)

Yegenoglu, Selen; Aslan, Dilek; Sozen, Bilge

2012-04-01

In this follow-up study, we aimed to assess national and international pharmaceutical companies' Web sites using guidelines of The Association of Research-Based Pharmaceutical Companies (AIFD) and Pharmaceutical Manufacturers Association of Turkey (IEIS) to define whether there has been progress since 2004. We used two national guidelines in order to evaluate the Web sites of pharmaceutical companies in our study. The first guideline was from IEIS, and the second was from AIFD, which was issued recently. We collected our data between February 1 and April 30, 2011. Data analyses were performed using SPSS version 15.0. Chi squared test was done for comparing the two assessments in different years (2004 and 2011). In general, the progress that we were expecting was not satisfactory for both the international and national companies. The percentage of unmet criteria increased for "links" (from 48.0% to 52.0%) and for "mentioning the responsible person/firm for the Web site design" (from 40.6% to 59.4%) among national companies. We observed statistically significant progress only for the "information for the public" criterion (from 52.9% to 100%) among international companies. On the other hand, there was progress and a statistically significant difference in terms of not displaying any "drug ads" on the Web sites of national firms (from 55.9% to 87.5%), availability of "mail address" (from 88.2% to 100%), "telephone number" (from 88.2% to 100%), "indication of the target group" (from 23.5% to 52.1%), and "disclaimer stating the given information cannot replace a physician or pharmacist" (from 29.4% to 53.1%). Our major recommendation to pharmaceutical companies is to update their Web sites with evidence-based scientific information about themselves and their products using international and national standards. From the companies' perspective, this should be a priority responsibility based on the ethical aspect of individual and community health.

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.…

How do pharmaceutical companies handle consumer adverse drug reaction reports? An overview based on a survey of French drug safety managers and officers.

Science.gov (United States)

Fleuranceau-Morel, P

2002-01-01

It is surprising to see how consumer Adverse Drug Reaction (ADR) reports have been continuously increasing for the last few years in Europe. This probably results from the influence of United States (US) market where the patients feels justified in telephoning the pharmaceutical companies directly with queries regarding their treatment. The growing number of alternative sources of information (e.g. health and popular magazines, spots on radio and TV etc.) to which a consumer is exposed has added to this growth too. The changing relationship between patients and doctors may also contribute to this phenomenon. It is then interesting to evaluate the way pharmaceutical companies currently deal with consumer ADR reports. The management of consumer ADR reporting was investigated by means of a questionnaire sent to 46 French drug safety managers and drug safety officers (DSOs) of multinational pharmaceutical companies. The analysis of the survey stressed the fact that pharmaceutical companies should be prepared to face up to an increase in the number of consumer ADR reports. It clearly appears that the consumers who telephone to register side-effects should be forwarded to a trained DSO with medical or pharmaceutical background and the communication skills acquired through specific training. This person should also be able to release adequate product information validated by his/her own company. The influence of the US market seems to be changing the way pharmaceutical companies deal with consumer ADR reports. Nowadays, these reports are entered into a drug safety database by most of the companies without previously having contacted the patient's general practitioner (GP) or specialist for medical confirmation. Lastly, the drug safety managers and DSOs consulted have divided opinions about the usefulness of call centres and e-mails as tools for ADR reporting. But both tools are globally rejected by the pharmaceutical companies as a reliable means of reporting. As stated

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

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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

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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.

Developing good scientific publishing practices: one pharmaceutical company's perspective.

Science.gov (United States)

Dowsett, Sherie A; Van Campen, Luann E; Bednar, Lisa A

2010-06-01

The scientific publishing practices of the pharmaceutical industry have been heavily criticized in recent years due to the inherent conflict of interest that arises when a pharmaceutical company publishes findings around its own drugs. Eli Lilly and Company ('Lilly') strives for transparency in its day-to-day activities, and, here, shares its principles, policies and practices on publishing "Lilly-sponsored" research. A conflict of interest does not necessarily equate to biased presentation of research findings, and operating a successful, for-profit business and maintaining a focus on improving the health of patients are not mutually exclusive goals. There is, however, potential for bias, and it is incumbent upon a for-profit to develop publication principles, policies and practices to address this. To this end, Lilly's Principles of Medical Research states that 'Lilly discloses publicly all medical research results that are important to patients, healthcare providers or payers--whether favorable or unfavorable to a Lilly product--in an accurate, objective, and balanced manner ...' The preparation of publications of Lilly-sponsored research involves close collaboration between external (i.e., academic or otherwise non-industry employees) and Lilly scientific researchers (including scientific writers), with both serving as authors. Lilly does not support 'ghost' or 'guest' authorship. Authorship is not just recognition of contribution but also public acknowledgement of responsibility for content, and all authors are expected to take an active role in developing the manuscript in line with the International Committee of Medical Journal Editors-based authorship requirements. This is agreed to by authors before the manuscript is started. Lilly provides external authors with access to the trial data for manuscript development. Lilly does not pay external authors for their involvement in manuscript development. Scientific writers at Lilly, often with advanced scientific

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...

HRM Practices and its Impact on Employee Satisfaction: A Case of Pharmaceutical Companies in Bangladesh

Directory of Open Access Journals (Sweden)

Solaiman Chowdhury

2016-01-01

compensation policy, performance appraisal, and industrial relations. The study suggests that the pharmaceutical companies should develop proper human resource policy and given emphasis on proper human resource practices to enhance the satisfaction of their employees and build them effective human resources.

Dental insurance! Are we ready?

Directory of Open Access Journals (Sweden)

Ravi SS Toor

2011-01-01

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

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.

R&D implementation in a department of laboratory medicine and pathology: a systematic review based on pharmaceutical companies.

Science.gov (United States)

Feulefack, Joseph; Sergi, Consolato

2015-01-01

A systematic literature review on pharmaceutical companies may be a tool for guiding some procedures of R&D implementation in a department of Laboratory Medicine and Pathology. The use of pharmaceutical companies for this specific analysis arises from less variability of standards than healthcare facilities. In this qualitative and quantitative analysis, we focused on three useful areas of implementation, including R&D productivity, commercialization strategies, and expenditures determinants of pharmaceutical companies. Studies and reports of online databases from 1965 to 2014 were reviewed according to specific search terms. Initially, 218 articles and reports were found and examined, but only 91 were considered appropriate and used for further analysis.  We identified some suggested implementation strategies relevant for marketing to enhance companies' own R&D strategies; such as reliability of companies on "sourcing-in" R&D facilities and "think-tank" events. Regardless of the study and of the country, cash flow and profitability always positively influenced R&D expenditure, while sales and firm size did not. We consider that handling R&D determinants should require caution. It seems critical that implementation of R&D systems is directly related with productivity, if it reflects dual embodiment of efficiency and effectiveness. Scrutinizing the determinants of R&D expenditures emphasizes significant factors that are worth to highlight when planning an R&D investment strategy. Although there is no receipt fitting every situation, we think that health care plan makers may find relevant data in this systematic review in creating an initial implementation framework.

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...

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...

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

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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

[A comprehensive evaluation of intervention effects on workplace health promotion in a pharmaceutical company].

Science.gov (United States)

Li, Shuang; Li, Tao; Li, Jian-guo; Chen, Li; Ren, Jun; Li, Chao-lin

2012-02-01

To evaluate the comprehensive workplace health promotion intervention effect in a pharmaceutical company. The evaluation was conducted by using questionnaires, access to information, on-site surveys, satisfaction surveys and interviews. After the intervention, the awareness rate of the staff on "Occupational Disease Prevention Law", occupational disease prevention measures, the definition of hypertension, HIV transmission and high blood pressure, coronary heart disease preventive measures, have been raised from 72.4%, 13.8%, 67.5%, 45.8%, 51.7% to 97.8%, 19.9%, 82.3%, 94.7%, 53.1% respectively. The lifestyle of the staff has been improved, the improvement rate of smoking, drinking, having breakfast 4 times a week and above are 98.5%, 70.2% and 30.6% separately. Out of the 47 evaluation indicators, 41 meet the requirements, 5 basically meet the requirements. After implementing workplace health promotion activities, the level of occupational safety and health management of the pharmaceutical company has been enhanced, the physical and mental health of the staff have been promoted. The WHP comprehensive interventions are feasible and effective.

Pharmaceutical company perspectives on current safety risk communications in Japan.

Science.gov (United States)

Urushihara, Hisashi; Kobashi, Gen; Masuda, Hideaki; Taneichi, Setsuko; Yamamoto, Michiko; Nakayama, Takeo; Kawakami, Koji; Matsuda, Tsutomu; Ohta, Kaori; Sugimori, Hiroki

2014-01-01

In 1987, a group infection of hepatitis in patients receiving a contaminated fibrinogen product was first reported to the Japanese regulatory agency. Eventually, this serious drug incident involved more than 10,000 cases of infection. In response, the Government of Japan established a responding inspection committee in 2008 to make recommendations for the restructuring of drug regulatory administration. The final report was issued in 2010. One agenda item of this restructuring was the improvement of drug-related safety risk communications. Our research group on drug safety risk communications, which is funded by the Government of Japan, surveyed pharmaceutical companies regarding their perspective on current risk communications. The survey was conducted using an anonymous questionnaire developed for this study which included the three operational domains of targets, contents, and measures of drug risk communication. Fifty-two of the 74 member companies of the Post-marketing Surveillance Subcommittee of the Japan Pharmaceutical Manufacturer's Association participated, and this response rate of more than 70% was considered sufficient to ensure the external validity of the survey results. Results showed that the most highly prioritized aspect of risk messaging was the strength of evidence, and that outcome evaluation of risk communication gained recognition. Further, while physicians and pharmacists were the most prioritized communication targets, pharmacovigilance departments devoted the most resources to regulators, at more than 30%. The Internet was recognized as a useful public source of risk information, whereas Drug Guides for Patients delivered on the web were considered under-recognized. Further discussion of these results with the aim of enhancing the restructuring of the Japanese drug regulatory administration system are warranted.

How much cash does your company need?

Science.gov (United States)

Passov, Richard

2003-11-01

In late 2001, the directors of Pfizer asked that very question. And with good reason. After its 2000 merger with rival Warner-Lambert, the New York-based pharmaceutical giant found itself sitting on a net cash position of $8 billion, which seemed extraordinarily conservative for a company whose products generated $30 billion in revenues. Most large companies with revenues that healthy would increase leverage, thereby unlocking tremendous value for shareholders. But knowledge-intensive companies like Pfizer, this author argues, are in a class apart. Because their largely intangible assets (like R&D) are highly volatile and cannot easily be valued, they are more vulnerable to financial distress than are firms with a preponderance of tangible assets. To insure against that risk, they need to maintain large positive cash balances. These companies' decisions to run large cash balances is one of the key reasons their shares sustain consistent premiums. Only by investing in their intangible assets can knowledge-based companies hope to preserve the value of those assets. A company that finds itself unable to do so because unfavorable market conditions reduce its operating cash flows will see its share price suffer almost as much as if it were to default on its debts. By the same token, with the right balance sheet, knowledge companies can profitably insure against the risk of failing to sustain value-added investments in difficult times. An optimal capital structure that calls for significant cash balances is certainly at odds with the results of a traditional capital structure analysis, the author demonstrates, but it explains the financial policies of many well-run companies, from Pfizer to Intel to ChevronTexaco.

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...

INSURANCE MARKET. GENERAL CONSIDERATIONS OF INSURANCES IN ROMANIA

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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

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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.

[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.

FINANCIAL STABILITY OF INSURANCE AND ITS SOURCES OF SUPPORT

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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

The Korean Pharmaceutical Industry and the Expansion of the General Pharmaceuticals Market in the 1950-1960s

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Kyu-Hwan SIHN

2015-12-01

market for vitamins and health tonics showed particularly explosive growth. As Korean industrial workers worked night and day to increase exports in the 1960s, they needed vitamins and health tonics for recovery from fatigue and to support vitality. The expansion of the general pharmaceuticals market was accompanied by increases in numbers of pharmaceutical companies. Competition intensified between pharmaceutical companies, leading some companies to search for new survival plans. The pharmaceutical industry underwent structural reform in 1960s, replacing imported medical substances with local products and inventing the new market of general pharmaceuticals. The market for vitamins and health tonics was increased, and a successful product could support a pharmaceutical company. On the contrary, a general pharmaceutical could affect the very existence of the company: if a company chased a popular product and the imitation bubble burst, then the company have lost its competitiveness in the world market.

[The Korean Pharmaceutical Industry and the Expansion of the General Pharmaceuticals Market in the 1950-1960s].

Science.gov (United States)

Sihn, Kyu-Hwan

2015-12-01

vitamins and health tonics showed particularly explosive growth. As Korean industrial workers worked night and day to increase exports in the 1960s, they needed vitamins and health tonics for recovery from fatigue and to support vitality. The expansion of the general pharmaceuticals market was accompanied by increases in numbers of pharmaceutical companies. Competition intensified between pharmaceutical companies, leading some companies to search for new survival plans. The pharmaceutical industry underwent structural reform in 1960s, replacing imported medical substances with local products and inventing the new market of general pharmaceuticals. The market for vitamins and health tonics was increased, and a successful product could support a pharmaceutical company. On the contrary, a general pharmaceutical could affect the very existence of the company: if a company chased a popular product and the imitation bubble burst, then the company have lost its competitiveness in the world market.

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

Private health insurance and the Pharmaceutical Benefits Scheme: how effective has recent government policy been?

Science.gov (United States)

Richardson, Jeff R J; Segal, Leonie

2004-01-01

The cost to government of the Pharmaceutical Benefits Scheme (PBS) is rising at over 10 percent per annum. The government subsidy to Private Health Insurance (PHI) is about $2.4 billion and rising. Despite this, the queues facing public patients - which were the primary justification for the assistance to PHI - do not appear to be shortening. Against this backdrop, we seek to evaluate recent policies. It is shown that the reason commonly given for the support of PHI - the need to preserve the market share of private hospitals and relieve pressure upon public hospitals - is based upon a factually incorrect analysis of the hospital sector in the last decade. It is similarly true that the 'problem' of rising pharmaceutical expenditures has been exaggerated. The common element in both sets of policies is that they result in cost shifting from the public to the private purse and have little to do with the quality or quantity of health services.

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,...

Organisational change and the psychological contract at a pharmaceutical company

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Kelebogile D. Magano

2017-09-01

Full Text Available Orientation: Over a period of 6 years, a South African pharmaceutical company had been involved in several mergers and acquisitions. These changes had proved difficult for staff and staff attrition had risen. Research purpose: The objective of the study was to explore the perceptions of senior managers about the impact of change on the psychological contract. The sub-objectives were to determine what organisational factors contribute to changes in the psychological contract during periods of change, and the implications of the breach of the psychological contract for the company and its employees. Motivation for the study: As the company was set to embark on further mergers and acquisitions, the opinions of senior managers about how such changes should be addressed are important for the company. Research design, approach and method: A case study approach was used in this qualitative study. The population comprised 60 senior managers of whom 12 were purposefully selected for inclusion in the study. A semistructured interview schedule was used to capture the views of these managers and themes were extracted by means of content analysis. Main findings: Seven themes emerged which encapsulated the perceptions of senior managers about the impact of change on the psychological contract during periods of mergers and acquisitions – lack of communication, an absence of planning, lack of employee engagement, less than optimal human resources involvement, lack of preparation of the organisational culture and poor change management processes. These factors need to be addressed to strengthen the psychological contract of employees during periods of change. Practical/managerial implications: The study highlighted areas that leaders and managers of the company should consider when embarking on mergers and acquisitions if the psychological contract of employees is not to be negatively impacted. Contribution: While caution must be exercised in the

INSURANCE - A RISK COVERING STRATEGY

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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 Pharmaceutical Industry Beamline of Pharmaceutical Consortium for Protein Structure Analysis

International Nuclear Information System (INIS)

Nishijima, Kazumi; Katsuya, Yoshio

2002-01-01

The Pharmaceutical Industry Beamline was constructed by the Pharmaceutical Consortium for Protein Structure Analysis which was established in April 2001. The consortium is composed of 22 pharmaceutical companies affiliating with the Japan Pharmaceutical Manufacturers Association. The beamline is the first exclusive on that is owned by pharmaceutical enterprises at SPring-8. The specification and equipments of the Pharmaceutical Industry Beamline is almost same as that of RIKEN Structural Genomics Beamline I and II. (author)

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.

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. ...

Sale strategies of pharmaceutical companies in a "pharmerging" country: the problems will not improve if the gaps remain.

Science.gov (United States)

Civaner, Murat

2012-08-01

This study aimed to examine the types of sales strategies used by pharmaceutical companies in a "pharmerging" market and to gain insight into the ways of avoiding the negative effects of these strategies. In-depth interviews were conducted with 22 physicians and company employees in the six largest cities of Turkey. The interviews were analyzed using content analysis. Various sales strategies, both legal and illegal, are universally applied. These methods target prescribers, patients, pharmacists, and society in general. Different types of companies, organizations, professionals, and science and ethical principles are used as means. Companies intervene immediately to prevent developments that may decrease sales, and exploit the educational and infrastructural needs. In contrast, physicians are overconfident about the effects of marketing and insufficiently educated on how to cope with the strategies and the drugs on the market, which make them vulnerable. Under these conditions, along with worldwide competition and economic volatility, policies that aim to set frameworks for pharmaceutical relationships have failed. Interventions are crucial, including instituting a national drug policy, minimizing the exposure to marketing, and addressing the educational and infrastructural needs of the prescribers. Without these interventions, gaps will continue to be exploited by companies for their own advantage, and the problems related to marketing will persist. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

Evaluating the reliability and accuracy of the promotional brochures for the generic pharmaceutical companies in Iraq using World Health Organization guidelines.

Science.gov (United States)

Mikhael, Ehab Mudher

2015-01-01

Pharmaceutical industries worldwide are heavily involved in aggressive drug promotions. Physician targeted promotion through medical representatives is one of the most common tactic for drug promotion by pharmaceutical drug companies. WHO states that medical representatives to work in an ethical way should make available to prescribers and dispensers complete and unbiased information for each product discussed; therefore this study aimed to evaluate the ethics in the medical brochures of generic pharmaceutical companies that are given through medical representatives to physicians in Iraq. An observational, cross-sectional study was conducted in Iraq - Baghdad from February to April 2014. Promotional drug brochures were collected mainly from pharmaceutical exhibition during attendance of medical conferences that were sponsored by generic pharmaceutical companies. Evaluation of each brochure was based primarily on WHO criteria for ethical medicinal drug promotion. The availability of emotional pictures in each brochure was also examined. Furthermore, references were checked to find their retrievability, source, and authenticity of presentations. Most medical brochures were for antibiotics, and drugs for cardiovascular diseases. All brochures mention drug name, with its active ingredient and indication, but there is a significant absence for drug interaction, while drug side effects and contraindications if present were written in a small font. Emotional picture presented in 70% of brochures. Reference citation was present in 72% of brochures, however only 75% of references in these brochures were correct. The information that is provided in medical brochures is biased and mainly persuasive since it is mainly focusing on the positive aspect of drug therapy.

Pharmaceutical new product development: the increasing role of in-licensing.

Science.gov (United States)

Edwards, Nancy V

2008-12-01

Many pharmaceutical companies are facing a pipeline gap because of the increasing economic burden and uncertainty associated with internal research and development programs designed to develop new pharmaceutical products. To fill this pipeline gap, pharmaceutical companies are increasingly relying on in-licensing opportunities. New business development identifies new pharmaceuticals that satisfy unmet needs and are a good strategic fit for the company, completes valuation models and forecasts, evaluates the ability of the company to develop and launch products, and pursues in-licensing agreements for pharmaceuticals that cannot be developed internally on a timely basis. These agreements involve the transfer of access rights for patents, trademarks, or similar intellectual property from an outside company in exchange for payments. Despite the risks, in-licensing is increasingly becoming the preferred method for pharmaceutical companies with pipeline gaps to bring new pharmaceuticals to the clinician.

Cost benefit of investment on quality in pharmaceutical manufacturing: WHO GMP pre- and post-certification of a Nigerian pharmaceutical manufacturer.

Science.gov (United States)

Anyakora, Chimezie; Ekwunife, Obinna; Alozie, Faith; Esuga, Mopa; Ukwuru, Jonathan; Onya, Steve; Nwokike, Jude

2017-09-18

Pharmaceutical companies in Africa need to invest in both facilities and quality management systems to achieve good manufacturing practice (GMP) compliance. Compliance to international GMP standards is important to the attainment of World Health Organization (WHO) prequalification. However, most of the local pharmaceutical manufacturing companies may be deterred from investing in quality because of many reasons, ranging from financial constraints to technical capacity. This paper primarily evaluates benefits against the cost of investing in GMP, using a Nigerian pharmaceutical company, Chi Pharmaceuticals Limited, as a case study. This paper also discusses how to drive more local manufacturers to invest in quality to attain GMP compliance; and proffers practical recommendations for local manufacturers who would want to invest in quality to meet ethical and regulatory obligations. The cost benefit of improving the quality of Chi Pharmaceuticals Limited's facilities and system to attain WHO GMP certification for the production of zinc sulfate 20-mg dispersible tablets was calculated by dividing the annual benefits derived from quality improvement interventions by the annual costs of implementing quality improvement interventions, referred to as a benefit-cost ratio (BCR). Cost benefit of obtaining WHO GMP certification for the production of zinc sulfate 20-mg dispersible tablets was 5.3 (95% confidence interval of 5.0-5.5). Investment in quality improvement intervention is cost-beneficial for local manufacturing companies. Governments and regulators in African countries should support pharmaceutical companies striving to invest in quality. Collaboration of local manufacturing companies with global companies will further improve quality. Local pharmaceutical companies should be encouraged to key into development opportunities available for pharmaceutical companies in Africa.

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 ...

Analysis the Efficiency and Productivity of Indonesian Pharmaceutical Public Companies Using Data Envelopment Analysis

Directory of Open Access Journals (Sweden)

Dewi Hanggraeni

2014-08-01

Full Text Available As one of the biggest medicines market in the South East Asia, the pharmaceutical industry inIndonesia has a huge potential market. However, the majority supply of raw materials has been imported.Besides, regulations of the Health Ministry and the Trade Ministry have still hampered mostplayers in Indonesia pharmaceutical industry. Therefore, this study used Data Envelopment Analysis(DEA models to analyze efficiency and productivity change in the Indonesian pharmaceutical industrybetween 2006 and 2011, listed in the Indonesia Stock Exchange and also supported by applyingefficiency financial ratio. This study finds that the decision for the most relatively efficient companyis different using DEA compared to efficiency financial ratios, yet DEA has better measurement ofefficiency. It is proven by one of State-owned Enterprises has been evaluated underperformed by thefinancial ratio analysis, unexpectedly is efficient using the DEA approach. This study has also proposedand tested a hypothesis on the average efficiency to check if the domestic and foreign pharmaceuticalcompanies differ in their efficiency but the result implies that there is no significant statisticaldifference among them. This study indicates that firms having dominant contribution in selling overthe-counter medicines are more efficient than selling ethical medicines. Lastly, technological changecontribution has more influence to productivity change instead of pure technical efficiency change inIndonesia pharmaceutical companies.

Measuring clinical trial transparency: an empirical analysis of newly approved drugs and large pharmaceutical companies.

Science.gov (United States)

Miller, Jennifer E; Wilenzick, Marc; Ritcey, Nolan; Ross, Joseph S; Mello, Michelle M

2017-12-05

To define a series of clinical trial transparency measures and apply them to large pharmaceutical and biotechnology companies and their 2014 FDA-approved drugs. Cross-sectional descriptive analysis of all clinical trials supporting 2014 Food and Drugs Administration (FDA)-approved new drug applications (NDAs) for novel drugs sponsored by large companies. Data from over 45 sources, including Drugs@FDA.gov, ClinicalTrials.gov, corporate and international registries; PubMed, Google Scholar, EMBASE, corporate press releases, Securities and Exchange Commission (SEC) filings and personal communications with drug manufacturers. Trial registration, results reporting, clinical study report (CSR) synopsis sharing, biomedical journal publication, and FDA Amendments Acts (FDAAA) compliance, analysed on the drug level. The FDA approved 19 novel new drugs, sponsored by 11 large companies, involving 553 trials, in 2014. We analysed 505 relevant trials. Per drug, a median of 100% (IQR 86%-100%) of trials in patients were registered, 71% (IQR 57%-100%) reported results or shared a CSR synopsis, 80% (70%-100%) were published and 96% (80%-100%) were publicly available in some form by 13 months after FDA approval. Disclosure rates were lower at FDA approval (65%) and improved significantly by 6 months post FDA approval. Per drug, a median of 100% (IQR 75%-100%) of FDAAA-applicable trials were compliant. Half of reviewed drugs had publicly disclosed results for all trials in patients in our sample. One trial was uniquely registered in a corporate registry, and not ClinicalTrials.gov; 0 trials were uniquely registered in international registries. Among large pharmaceutical companies and new drugs, clinical trial transparency is high based on several standards, although opportunities for improvement remain. Transparency is markedly higher for trials in patients than among all trials supporting drug approval, including trials in healthy volunteers. Ongoing efforts to publicly track

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

Drug recall: An incubus for pharmaceutical companies and most serious drug recall of history.

Science.gov (United States)

Nagaich, Upendra; Sadhna, Divya

2015-01-01

There has been an increasing trend in the number of prescribed and over-the-counter drug recall over the last few years. The recall is usually due to company's discovery, customer's complaint or Food and Drug Administration (FDA) observation. The process of recall involves a planned specific course of action, which addresses the depth of recall, need for public warning, and the extent of effectiveness checks for the recall. The FDA review and/or recommend changes to the firm's recall strategy, as appropriate. The critical recall information list includes the identity of the product; summary of the failure; amount of product produced in the distribution chain and direct account. Product recalls clashes thousands of companies every year affecting: sales, testing customer relationships and disrupting supply chains. Drug recall is incubus for pharmaceutical companies. It effects the reputation of the company. The reason for the recall can be divided into two categories: manufacturing affined and safety/efficacy affined. It is essential to follow all the guidelines related to drug development and manufacturing procedure so as to minimize drug recall.

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...

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...

Pharmaceutical companies vs. the State: who is responsible for post-trial provision of drugs in Brazil?

Science.gov (United States)

Wang, Daniel Wei L; Ferraz, Octavio Luiz Motta

2012-01-01

This paper discusses the post-trial access to drugs for patients who participated in clinical trials in Brazil. The ethical guidance for clinical trials in Brazil is arguably one of the clearest in the world in attributing to research sponsors the responsibility for providing post-trial drugs to patients who participated in their experiments. The Federal Constitution recognizes health as a fundamental right to be fulfilled by the State. Based on the Brazilian constitution and on the National Health Council resolutions, courts have been accepting patients' claims and ordering the State and the pharmaceutical companies to provide these patients with the tested treatment in the quantity and duration they need it. This generous interpretation of the duties of the pharmaceutical companies and the State makes the Brazilian model for post-trial access unique when compared to the experience of other countries and thus should be followed with attention by future research in order to assess its consequences for patients, research sponsors, and the public health system. © 2012 American Society of Law, Medicine & Ethics, Inc.

Nontraditional roles for certified pharmacy technicians in a pharmaceutical company.

Science.gov (United States)

Fung, Stacey M; Gilmour, Christine; McCracken, David; Shane, Korban; Matsuura, Gary

2006-01-01

To describe nontraditional roles for Certified Pharmacy Technicians (CPhTs) within pharmaceutical industry. Drug information department within a large biotechnology/pharmaceutical organization. The Medical Communications department within Genentech uses a skills-mix staffing model in which employees with varying educational and training backgrounds work as a team on meeting the informational needs of consumers and health professionals who contact the company. One position within the department is that of Medical Communications Associate, responsible primarily for managing product inquiries. Medical Communications Associates have degrees in life sciences or an equivalent combination of education and experience, including a minimum of 2 years of related experience in the health care industry. Currently, four of the seven Medical Communications Associates in the department are CPhTs. Not applicable. Ability to recruit CPhTs for Medical Communications Associate positions, and job satisfaction of those hired into these positions. Critical basic skills needed for the Medical Communications Associate position include strong computer literacy, ability to multitask, and ability to work in an environment with frequent interruptions. Strong oral and written communications skills, customer service skills, ability to deal with stressful situations, product-specific knowledge, ability to work on a daily basis with Medical Communications Pharmacists, and knowledge of medical terminology are also important. The skills set of CPhTs matches these requirements, as evidenced by the experiences of the four staff members who have worked in the department for a total of 17 person-years. This nontraditional role for CPhTs can be rewarding and beneficial to all, affording an unique opportunity within the pharmaceutical industry. The skill set and experience of CPhTs can be used in the nontraditional pharmacy practice setting of drug information.

Trade Secrets in Life Science and Pharmaceutical Companies

Science.gov (United States)

Nealey, Tara; Daignault, Ronald M.; Cai, Yu

2015-01-01

Trade secret protection arises under state common law and state statutes. In general, a trade secret is information that is not generally known to the public and is maintained as a secret, and it provides a competitive advantage or economic benefit to the trade secret holder. Trade secrets can be worth tens or hundreds of millions of dollars, and damage awards in trade secret litigation have been high; often, there is a lot at stake. Obtaining a trade secret through “improper means” is misappropriation. If the alleged trade secret, however, was developed independently, known publicly, or not maintained as a secret, then those defenses may successfully overcome a claim for trade secret misappropriation. With today’s interconnectedness in the biotechnology and pharmaceutical fields, more collaborations, joint ventures, and outsourcing arrangements among firms, and increased mobility of employees’ careers, life science companies need to not only understand how to protect their trade secrets, but also know how to defend against a claim for trade secret theft. PMID:25414378

Trade secrets in life science and pharmaceutical companies.

Science.gov (United States)

Nealey, Tara; Daignault, Ronald M; Cai, Yu

2014-11-20

Trade secret protection arises under state common law and state statutes. In general, a trade secret is information that is not generally known to the public and is maintained as a secret, and it provides a competitive advantage or economic benefit to the trade secret holder. Trade secrets can be worth tens or hundreds of millions of dollars, and damage awards in trade secret litigation have been high; often, there is a lot at stake. Obtaining a trade secret through "improper means" is misappropriation. If the alleged trade secret, however, was developed independently, known publicly, or not maintained as a secret, then those defenses may successfully overcome a claim for trade secret misappropriation. With today's interconnectedness in the biotechnology and pharmaceutical fields, more collaborations, joint ventures, and outsourcing arrangements among firms, and increased mobility of employees' careers, life science companies need to not only understand how to protect their trade secrets, but also know how to defend against a claim for trade secret theft. Copyright © 2015 Cold Spring Harbor Laboratory Press; all rights reserved.

A study on the interactions of doctors with medical representatives of pharmaceutical companies in a Tertiary Care Teaching Hospital of South India.

Science.gov (United States)

Gupta, Sandeep Kumar; Nayak, Roopa P; Sivaranjani, R

2016-01-01

The promotional activities by medical representatives (MRs) of the pharmaceutical companies can impact the prescribing pattern of doctors. Hence, the interaction between doctors and the pharmaceutical industry is coming under increasing scrutiny. The primary objective was to assess the attitude of the doctors toward the interaction with the MRs of the pharmaceutical company. The secondary objective was to assess the awareness of the doctors about regulations governing their interaction with the pharmaceutical company. This was a cross-sectional study. This study was carried out using a pretested questionnaire containing 10 questions between June and September 2014. The doctors working in the Dhanalakshmi Srinivasan Medical College and Hospital, Perambalur (Tamil Nadu) during the study period was included. A total of 100 pretested questionnaires were distributed, and 81 doctors responded (response rate 81%). 37% doctors responded that they interacted with MR once a week whereas 25.9% told that they interact with MRs twice a month. About 69.1% doctors think that MR exaggerate the benefits of medicines and downplays the risks and contraindications of medicine(P = 0.000). 61.7% doctors think that MR has an impact on their prescribing (P = 0.000). 63% doctors stated that they had received promotional tools such as stationery items, drug sample, textbooks or journal reprints from MR in last 12 months (P = 0.0012). Unfortunately, 70.4% doctors have not read the guidelines about interacting with the pharmaceutical industry or its representative (P = 0.000). Rather than forbidding any connection between doctors and industry, it is better to establish ethical guidelines. The Medical Council of India code is a step in the right direction, but the majority of doctors in this study have not read the guidelines about interacting with the pharmaceutical industry or its representative.

A study on the interactions of doctors with medical representatives of pharmaceutical companies in a Tertiary Care Teaching Hospital of South India

Directory of Open Access Journals (Sweden)

Sandeep Kumar Gupta

2016-01-01

Full Text Available Background: The promotional activities by medical representatives (MRs of the pharmaceutical companies can impact the prescribing pattern of doctors. Hence, the interaction between doctors and the pharmaceutical industry is coming under increasing scrutiny. Objective: The primary objective was to assess the attitude of the doctors toward the interaction with the MRs of the pharmaceutical company. The secondary objective was to assess the awareness of the doctors about regulations governing their interaction with the pharmaceutical company. Materials and Methods: This was a cross-sectional study. This study was carried out using a pretested questionnaire containing 10 questions between June and September 2014. The doctors working in the Dhanalakshmi Srinivasan Medical College and Hospital, Perambalur (Tamil Nadu during the study period was included. Results: A total of 100 pretested questionnaires were distributed, and 81 doctors responded (response rate 81%. 37% doctors responded that they interacted with MR once a week whereas 25.9% told that they interact with MRs twice a month. About 69.1% doctors think that MR exaggerate the benefits of medicines and downplays the risks and contraindications of medicine(P = 0.000. 61.7% doctors think that MR has an impact on their prescribing (P = 0.000. 63% doctors stated that they had received promotional tools such as stationery items, drug sample, textbooks or journal reprints from MR in last 12 months (P = 0.0012. Unfortunately, 70.4% doctors have not read the guidelines about interacting with the pharmaceutical industry or its representative (P = 0.000. Conclusion: Rather than forbidding any connection between doctors and industry, it is better to establish ethical guidelines. The Medical Council of India code is a step in the right direction, but the majority of doctors in this study have not read the guidelines about interacting with the pharmaceutical industry or its representative.

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

Corporate social responsibility practices of pharmaceutical companies in China: a scale development & empirical study

OpenAIRE

Qian Yiyun

2017-01-01

JEL Classification: M14 - Corporate Culture; Social Responsibility; I11 - Analysis of Health Care Markets Corporate Social Responsibility (CSR) has been a hot topic in literature ever since a couple of decades ago, and it roughly refers to the positive influence that a company’s operations have on its stakeholders. Amongst various industries, the pharmaceutical sector is one of the most debated in that these companies produce disease-curing and even life-saving products in a for-profit man...

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...

Changes in FDA enforcement activities following changes in federal administration: the case of regulatory letters released to pharmaceutical companies.

Science.gov (United States)

Nguyen, Diane; Seoane-Vazquez, Enrique; Rodriguez-Monguio, Rosa; Montagne, Michael

2013-01-22

The United States (US) Food and Drug Administration (FDA) is responsible for the protection of the public health by assuring the safety, effectiveness and security of human drugs and biological products through the enforcement of the Federal Food, Drug and Cosmetic Act (FDCA) and related regulations. These enforcement activities include regulatory letters (i.e. warning letters and notice of violation) to pharmaceutical companies. A regulatory letter represents the FDA's first official notification to a pharmaceutical company that the FDA has discovered a product or activity in violation of the FDCA.This study analyzed trends in the pharmaceutical-related regulatory letters released by the FDA during the period 1997-2011 and assessed differences in the average number and type of regulatory letters released during the last four federal administrations. Data derived from the FDA webpage. Information about the FDA office releasing the letter, date, company, and drug-related violation was collected. Regulatory letters were classified by federal administration. Descriptive statistics were performed for the analysis. Between 1997 and 2011 the FDA released 2,467 regulatory letters related to pharmaceuticals. FDA headquarters offices released 50.6% and district offices 49.4% of the regulatory letters. The Office of Prescription Drug Promotion released the largest number of regulatory letters (850; 34.5% of the total), followed by the Office of Scientific Investigations (131; 5.3%), and the Office of Compliance (105; 4.3%). During the 2nd Clinton Administration (1997-2000) the average number of regulatory letters per year was 242.8 ± 45.6, during the Bush Administration (2001-2008) it was 120.4 ± 33.7, and during the first three years of the Obama administration (2009-2011) it was 177.7.0 ± 17.0. The average number of regulatory letters released by the Office of Prescription Drug Promotion also varied by administration: Clinton (122.3 ± 36.4), Bush (29.5�

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...

An Instructional Design Model for Developing a Computer Curriculum To Increase Employee Productivity in a Pharmaceutical Company.

Science.gov (United States)

Stumpf, Mark R.

This report presents an instructional design model that was developed for use by the End-Users Computing department of a large pharmaceutical company in developing effective--but not lengthy--microcomputer training seminars to train office workers and executives in the proper use of computers and thus increase their productivity. The 14 steps of…

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...

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.

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...

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…

Changes in FDA enforcement activities following changes in federal administration: the case of regulatory letters released to pharmaceutical companies

Directory of Open Access Journals (Sweden)

Nguyen Diane

2013-01-01

Full Text Available Abstract Background The United States (US Food and Drug Administration (FDA is responsible for the protection of the public health by assuring the safety, effectiveness and security of human drugs and biological products through the enforcement of the Federal Food, Drug and Cosmetic Act (FDCA and related regulations. These enforcement activities include regulatory letters (i.e. warning letters and notice of violation to pharmaceutical companies. A regulatory letter represents the FDA’s first official notification to a pharmaceutical company that the FDA has discovered a product or activity in violation of the FDCA. This study analyzed trends in the pharmaceutical-related regulatory letters released by the FDA during the period 1997–2011 and assessed differences in the average number and type of regulatory letters released during the last four federal administrations. Methods Data derived from the FDA webpage. Information about the FDA office releasing the letter, date, company, and drug-related violation was collected. Regulatory letters were classified by federal administration. Descriptive statistics were performed for the analysis. Results Between 1997 and 2011 the FDA released 2,467 regulatory letters related to pharmaceuticals. FDA headquarters offices released 50.6% and district offices 49.4% of the regulatory letters. The Office of Prescription Drug Promotion released the largest number of regulatory letters (850; 34.5% of the total, followed by the Office of Scientific Investigations (131; 5.3%, and the Office of Compliance (105; 4.3%. During the 2nd Clinton Administration (1997–2000 the average number of regulatory letters per year was 242.8 ± 45.6, during the Bush Administration (2001–2008 it was 120.4 ± 33.7, and during the first three years of the Obama administration (2009–2011 it was 177.7.0 ± 17.0. The average number of regulatory letters released by the Office of Prescription Drug Promotion also varied by

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...

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.

Australian consumer responses to DTCA and other pharmaceutical company sponsored advertisements.

Science.gov (United States)

Hall, Danika V; Jones, Sandra C

2008-10-01

This study aimed to elicit and compare the responses of Australian consumers towards New Zealand (NZ) direct-to-consumer-advertisements (DTCA) for prescription medicines and matched pharmaceutical company-sponsored advertisements from Australia. A survey questionnaire was mailed to a random sample of residents in a metropolitan area in NSW. Potential participants were randomised to receive one of four different advertisements: two for weight loss and two for Alzheimer's disease. A total of 413 responses were received and analysed. Participants reported that they were not likely to ask for a prescription from their doctor as a result of seeing any of the advertisements in the study. The Australian disease awareness advertisement that did not refer to a medicinal treatment was perceived as more valuable than the NZ DTCA or other Australian advertisement. Overall, participants found it easier to make sense of the more informational advertisements, and felt that there was insufficient information regarding the disease/condition and treatments in the more emotive and transformational advertisements. While there is concern over potential negative effects of pharmaceutical-sponsored disease awareness advertisements, this study found that Australian consumers perceived an informational advertisement with a list of disease symptoms to be valuable. These findings contribute to debate in New Zealand and Australia regarding DTCA and disease awareness advertising, and have the potential to inform guidelines relevant to the advertising of prescription medicine in each country.

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

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

Vulnerabilities to misinformation in online pharmaceutical marketing.

Science.gov (United States)

De Freitas, Julian; Falls, Brian A; Haque, Omar S; Bursztajn, Harold J

2013-05-01

Given the large percentage of Internet users who search for health information online, pharmaceutical companies have invested significantly in online marketing of their products. Although online pharmaceutical marketing can potentially benefit both physicians and patients, it can also harm these groups by misleading them. Indeed, some pharmaceutical companies have been guilty of undue influence, which has threatened public health and trust. We conducted a review of the available literature on online pharmaceutical marketing, undue influence and the psychology of decision-making, in order to identify factors that contribute to Internet users' vulnerability to online pharmaceutical misinformation. We find five converging factors: Internet dependence, excessive trust in the veracity of online information, unawareness of pharmaceutical company influence, social isolation and detail fixation. As the Internet continues to change, it is important that regulators keep in mind not only misinformation that surrounds new web technologies and their contents, but also the factors that make Internet users vulnerable to misinformation in the first place. Psychological components are a critical, although often neglected, risk factor for Internet users becoming misinformed upon exposure to online pharmaceutical marketing. Awareness of these psychological factors may help Internet users attentively and safely navigate an evolving web terrain.

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.

Public administration and R&D localisation by pharmaceutical and biotech companies: a theoretical framework and the Italian case-study.

Science.gov (United States)

Jommi, Claudio; Paruzzolo, Silvia

2007-04-01

This article has two objectives. It firstly provides a general framework for variables that influence R&D (Research and Development) localisation by pharmaceutical and biotech companies. The analysis of R&D localization includes both in-house R&D and contracted R&D. Following a systematic literature search, these variables were classified into four distinct categories: regulatory environment, institutional framework, national systems of innovation and local development and specialisation. The authors highlight that some of these factors directly depend on the action of public administrations (e.g., patent protection, price regulation, public investments in research, and incentives to private companies); others are indirectly influenced by public policies (e.g., GDP growth rate, infrastructures). This theoretical framework was used to analyse the Italian case-study. Pros and cons of the Italian context were investigated from the point of view of multinational pharmaceutical companies and the Italian Association of Biotech Companies. Interviews were chosen as the most appropriate data gathering technique given the exploratory nature of the study of the Italian context. The paper is divided into five parts. A brief introduction provides figures showing that Europe has been loosing positions compared with other Continents and the same has occurred in Italy compared with other EU countries. The second one illustrates the methodology. The third one is focused on variables affecting R&D localisation. In the fourth section the Italian case-study is discussed. Theoretical and empirical findings are summarised and discussed in the conclusions.

High rate of awarding compensation for claims of injuries related to clinical trials by pharmaceutical companies in Japan: a questionnaire survey.

Science.gov (United States)

Kurihara, Chieko; Kusuoka, Hideo; Ono, Shunsuke; Kakee, Naoko; Saito, Kazuyuki; Takehara, Kenji; Tsujide, Kiyokazu; Nabeoka, Yuzo; Sakuhiro, Takuya; Aoki, Hiroshi; Morishita, Noriko; Suzuki, Chieko; Kachi, Shigeo; Kondo, Emiko; Komori, Yukiko; Isobe, Tetsu; Kageyama, Shigeru; Watanabe, Hiroshi

2014-01-01

International norms and ethical standards have suggested that compensation for research-related injury should be provided to injured research volunteers. However, statistical data of incidence of compensation claims and the rate of awarding them have been rarely reported. Questionnaire surveys were sent to pharmaceutical companies and medical institutions, focusing on industry-initiated clinical trials aiming at new drug applications (NDAs) on patient volunteers in Japan. With the answers from pharmaceutical companies, the incidence of compensation was 0.8%, including 0.06% of monetary compensation. Of the cases of compensation claims, 99% were awarded. In turn, with the answers from medical institutions, the incidence of compensation was 0.6%, including 0.4% of serious but not death cases, and 0.04% of death cases. Furthermore, most claims for compensation were initiated by medical institutions, rather than by the patients. On the other hand, with the answers from clinical trial volunteers, 3% of respondents received compensations. These compensated cases were 25% of the injuries which cannot be ruled out from the scope of compensation. Our study results demonstrated that Japanese pharmaceutical companies have provided a high rate of compensation for clinical trial-related injuries despite the possibility of overestimation. In the era of global clinical development, our study indicates the importance of further surveys to find each country's compensation policy by determining how it is being implemented based on a survey of the actual status of compensation coming from statistical data.

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 ...

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.

Analysis of International Mergers and Acquisitions in the Pharmaceutical Industry

Directory of Open Access Journals (Sweden)

Božo Matić

2011-07-01

Full Text Available There are numerous researches which analyze mergers and acquisitions, but most of them do not focus on a certain industry, but their sample considers companies from different industries. This paper focuses on mergers and acquisitions in the pharmaceutical industry. It is assumed that pharmaceutical companies with no experience in mergers and acquisitions achieve better results in relatively small and domestic mergers and acquisitions while pharmaceutical companies with greater experience in mergers and acquisitions are successful even in bigger and international mergers and acquisitions. Bigger mergers and acquisitions and international mergers and acquisitions are more risky for the companies so lack of experience in mergers and acquisitions additionally increases risks during the process of mergers and acquisitions. On average, such increase of the risk results in lower returns for stock owners of pharmaceutical companies.

Vulnerabilities to misinformation in online pharmaceutical marketing

Science.gov (United States)

De Freitas, Julian; Falls, Brian A; Haque, Omar S; Bursztajn, Harold J

2013-01-01

Given the large percentage of Internet users who search for health information online, pharmaceutical companies have invested significantly in online marketing of their products. Although online pharmaceutical marketing can potentially benefit both physicians and patients, it can also harm these groups by misleading them. Indeed, some pharmaceutical companies have been guilty of undue influence, which has threatened public health and trust. We conducted a review of the available literature on online pharmaceutical marketing, undue influence and the psychology of decision-making, in order to identify factors that contribute to Internet users’ vulnerability to online pharmaceutical misinformation. We find five converging factors: Internet dependence, excessive trust in the veracity of online information, unawareness of pharmaceutical company influence, social isolation and detail fixation. As the Internet continues to change, it is important that regulators keep in mind not only misinformation that surrounds new web technologies and their contents, but also the factors that make Internet users vulnerable to misinformation in the first place. Psychological components are a critical, although often neglected, risk factor for Internet users becoming misinformed upon exposure to online pharmaceutical marketing. Awareness of these psychological factors may help Internet users attentively and safely navigate an evolving web terrain. PMID:23761527

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...

Ethical dilemma of mandated contraception in pharmaceutical research at catholic medical institutions.

Science.gov (United States)

Casey, Murray Joseph; O'Brien, Richard; Rendell, Marc; Salzman, Todd

2012-01-01

The Catholic Church proscribes methods of birth control other than sexual abstinence. Although the U.S. Food and Drug Administration (FDA) recognizes abstinence as an acceptable method of birth control in research studies, some pharmaceutical companies mandate the use of artificial contraceptive techniques to avoid pregnancy as a condition for participation in their studies. These requirements are unacceptable at Catholic health care institutions, leading to conflicts among institutional review boards, clinical investigators, and sponsors. Subjects may feel coerced by such mandates to adopt contraceptive techniques inconsistent with their personal situation and beliefs; women committed to celibacy or who engage exclusively in non-heterosexual activities are negatively impacted. We propose principles to insure informed consent to safeguard the rights of research subjects at Catholic institutions while mitigating this ethical conflict. At the same time, our proposal respects the interests of pharmaceutical research agencies and Catholic moral precepts, and fully abides by regulatory guidance.

Improving Overall Equipment Effectiveness Using CPM and MOST: A Case Study of an Indonesian Pharmaceutical Company

Science.gov (United States)

Omega, Dousmaris; Andika, Aditya

2017-12-01

This paper discusses the results of a research conducted on the production process of an Indonesian pharmaceutical company. The company is experiencing low performance in the Overall Equipment Effectiveness (OEE) metric. The OEE of the company machines are below world class standard. The machine that has the lowest OEE is the filler machine. Through observation and analysis, it is found that the cleaning process of the filler machine consumes significant amount of time. The long duration of the cleaning process happens because there is no structured division of jobs between cleaning operators, differences in operators’ ability, and operators’ inability in utilizing available cleaning equipment. The company needs to improve the cleaning process. Therefore, Critical Path Method (CPM) analysis is conducted to find out what activities are critical in order to shorten and simplify the cleaning process in the division of tasks. Afterwards, The Maynard Operation and Sequence Technique (MOST) method is used to reduce ineffective movement and specify the cleaning process standard time. From CPM and MOST, it is obtained the shortest time of the cleaning process is 1 hour 28 minutes and the standard time is 1 hour 38.826 minutes.

Marketing orientation in pharmaceutical industry

Directory of Open Access Journals (Sweden)

Prošić Danica

2006-01-01

Full Text Available Pharmaceutical companies are major stakeholders in the global health agenda Virtually all drugs used by patients in Europe reach markets through the promotion tactics of a small number of corporations with a tremendous impact on global health. The sector is both fast growing and highly profitable. Effective marketing strategies are a crucial ingredient in making sure pharmaceutical products and profits flow in a virtuous cycle. At first glance, the relationship between doctors and drug companies, as well as advertising practices for over-the-counter medication, appears tightly regulated. According to many consumer organizations, drug promotion in Europe today can be characterized as nice and friendly marketing. This refers to the creation of a false sense of trust that consumers associate with branded pharmaceutical products, as a result of pharmaceutical marketing efforts disguised as genuine corporate responsibility.

MANAGING INDUSTRIAL PHARMACEUTICAL RESEARCH-AND-DEVELOPMENT - A COMPARATIVE-STUDY OF MANAGEMENT CONTROL AND INNOVATIVE EFFECTIVENESS IN EUROPEAN AND ANGLO-AMERICAN COMPANIES

NARCIS (Netherlands)

OMTA, SWF; BOUTER, LM; VANENGELEN, JML

1994-01-01

Drug regulation and pricing have put strong pressure on the cost-benefit ratio of the innovative pharmaceutical industry. Therefore a study has been conducted in fourteen large and medium sized companies to determine some important organisational and managerial factors influencing success in

[An analysis of the pharmaceuticals market in Vietnam].

Science.gov (United States)

Simonet, D

2001-01-01

pharmaceutical researchers. A strong decentralisation process characterises the pharmaceutical sector, with pharmacies in the provinces and districts while wholesalers remain located in Hanoi and Saigon. The presence of many middlemen has contributed to an increase in prices. Today, a concentration of pharmacies is still noted in inner cities while the suburbs and the villages still have difficulties supplying drugs for inhabitants. Solutions have been implemented such as the opening of new pharmacies and additional professional training for pharmacists. Prices were lowered while the quality of the supply chain was improved. Local production is encouraged as hospitals are prompted to prescribe Vietnamese products. The modernisation of the Vietnamese pharmaceutical industry is also visible through the importation of medical materials and an increase in the number of private hospitals financed with both the help of local and foreign investors, mainly through joint-ventures, most often in Saigon and Hanoi. The renovation of local hospitals was also possible with the help of France and Japan. Columbia Gia Dinh International, located in Saigon, is one of the very few US/Vietnamese medical institutions created with a local partner, the Gia Dinh hospital. The recovery of the economy will accelerate the creation of new projects designed to improve local medical infrastructures. Other private companies, some of which are based in Singapore, have been specifically designed to deliver care to expatriates working in Vietnam. Insurance coverage has been provided in Vietnam since in 1992. Other improvements concern the implementation of "Good Manufacturing Practices" (GMP) and "Good Laboratory Practices" and "Good Storage Practices". Most norms were implemented at the end of the 90s in joint companies linking foreign investors and local partners or in independent foreign drug manufacturers based in Vietnam. Special areas were created to receive high tech investments in the medical and

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...

Pharmaceutical Distribution Market Channels in Poland

Directory of Open Access Journals (Sweden)

Agnieszka Woś

2009-09-01

Full Text Available Distribution on the pharmaceutical market in Poland is interesting and the most difficult sphere to manage. Numerous varied and specialized companies operating on the market cause that the processes of choosing middlemen in distribution channels are very complex. The hereby article presents the role and location of the companies operating within distribution channels on the pharmaceutical market. It draws attention to the development of non-pharmacy and non-wholesale sales channels.

Mergers and innovation in the pharmaceutical industry.

Science.gov (United States)

Comanor, William S; Scherer, F M

2013-01-01

Conflicting trends confound the pharmaceutical industry. The productivity of pharmaceutical innovation has declined in recent years. At the same time, the cohort of large companies who are the leading engines of pharmaceutical R&D has become increasingly concentrated. The concurrent presence of these trends is not sufficient to determine causation. In response to lagging innovation prospects, some companies have sought refuge in mergers and acquisitions to disguise their dwindling prospects or gain R&D synergies. On the other hand, the increased concentration brought on by recent mergers may have contributed to the declining rate of innovation. In this paper, we consider the second of these causal relationships: the likely impact of the recent merger wave among the largest pharmaceutical companies on the rate of innovation. In other words, have recent mergers, which may have been taken in response to lagging innovation, represented a self-defeating strategy that only made industry outcomes worse? Copyright © 2012 Elsevier B.V. All rights reserved.

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 ...

Regulating the relationship between physicians and pharmaceutical companies: a qualitative and descriptive analysis of the impact of Israeli legislation.

Science.gov (United States)

Nissanholtz-Gannot, Rachel; Yankellevich, Ariel

2017-09-26

The Israeli National Health Insurance Law was amended in 2010 to require the disclosure of payments above 2500 NIS from pharmaceutical companies (PCs) to medical personnel and organizations. We examined if the law had an impact on the relationship between physicians in the Israeli health system and the pharmaceutical industry. We conducted 42 in-depth semi-structured interviews with representatives of relevant stakeholders regarding the effects and extent of the law and the interviewees' attitudes about regulating the relationship between physicians and PCs. In addition, we analyzed reports on payments from PCs to various components of the health system. The majority of interviewees agreed that transparency is important to the relationship between PCs and physicians and none of them opposed the disclosure of payments. Most interviewees reported to have witnessed a change in the regulatory climate of the relationship between PCs and physicians, prompted mostly by self-regulatory measures of the pharmaceutical industry. The most significant change in this relationship appeared to be the enactment of contractual relations between PCs and physicians. There was a pervasive feeling that self-regulation is more effective than state regulation. The impact of the law on the behavior of individual physicians was claimed to be limited at best. Suggested causes were lack of awareness of the law, particularly among physicians; ambiguous definition of "payments" and loopholes in the law that attract other forms of remuneration to physicians and lack of enforcement of the law. According to reports published by the Ministry of Health, Pharma Israel, and the Israeli Medical association, although there had been some disclosure of payments by both donors and beneficiaries, there were inconsistencies between the total payments disclosed by PCs and those disclosed by their beneficiaries. There is a broad agreement that transparency is important to the PCs-physicians relationship. In

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

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

Directory of Open Access Journals (Sweden)

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.

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...

Aspects of research and development contract terms in the bio/pharmaceutical sector.

Science.gov (United States)

Banerjee, Tannista

2012-01-01

The cost of new drug development is increasing every year. Pharmaceutical companies use R&D joint ventures, mergers, and outsource different stages of pharmaceutical R&D activities for a faster and cost minimizing method of innovation. Pharmaceutical companies outsource R&D activities to independent small biotech or pharmaceutical companies that specialize in different stages of pharmaceutical R&D. This chapter examines the determinants of the payment structure of research contracts between large bio/pharmaceutical companies and specialized research firms. Determinants of R&D contracts are analyzed using detailed R&D contract data between bio/pharmaceutical companies and independent research firms for 10 years. A multinomial logit model is used in order to understand the determinants of three different types of contracts; royalty contracts, fixed payment contracts, and the mixed contracts. Under uncertainty, the likelihood of a royalty contract rises for the early stages of the research and with the patent stock of the research firm. It is more likely to observe both royalty and fixed payment if the pharmaceutical client has past contracts with the same research firm. The results also suggest that if Food and Drug Administration (FDA) is more stringent in any disease area in reviewing the new drug application, then the likelihood of signing pure royalty contract decreases. Understanding the nature of R&D contracts and the effects of FDA's behavior on the pharmaceutical R&D contract is important because these contracts not only affect the cost of new drug invention but also the quality and the rate of invention. VALUE: Results are useful for both the pharmaceutical companies and the economic/business researchers.

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...

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.

Impact of Corporate Reputation on Brand Differentiation: An Empirical Study from Iranian Pharmaceutical Companies.

Science.gov (United States)

Vahabzadeh, Afshin; Vatanpour, Hossein; Dinarvand, Rasoul; Rajabzadeh, Ali; Salamzadeh, Jamshid; Mohammadzadeh, Mehdi

2017-01-01

The influence of company reputation or what is often referred to as corporate reputation on branding strategy and producing intangible asset for different industries has been researched in western countries, but there is a gap for the generalizability of findings to countries out of the United State and Europe. To establish the western researcher's external validity of theories in other countries and to obtain a better understanding of the influences of branding and company reputation on pharmaceutical business markets, the researchers applied this study for Iran, a country in the Middle East. The obtained results using SEM (by P.L.S. 2.0 software) showed a good relationship between value creation and brand differentiation (β =0.360 and t-value = 3.167), between corporate communication and brand differentiation (β = 0.022 and t-value = 3.668), and between strategic resources and brand differentiation (β = 0.289 and t-value = 2.247). This study is a pioneering attempt in Iran to measure the impact of corporate reputation on brand differentiation strategy.

Impact of Corporate Reputation on Brand Differentiation: An Empirical Study from Iranian Pharmaceutical Companies

Science.gov (United States)

vahabzadeh, Afshin; vatanpour, Hossein; dinarvand, Rasoul; rajabzadeh, Ali; salamzadeh, Jamshid; mohammadzadeh, Mehdi

2017-01-01

The influence of company reputation or what is often referred to as corporate reputation on branding strategy and producing intangible asset for different industries has been researched in western countries, but there is a gap for the generalizability of findings to countries out of the United State and Europe. To establish the western researcher’s external validity of theories in other countries and to obtain a better understanding of the influences of branding and company reputation on pharmaceutical business markets, the researchers applied this study for Iran, a country in the Middle East. The obtained results using SEM (by P.L.S. 2.0 software) showed a good relationship between value creation and brand differentiation (β =0.360 and t-value = 3.167), between corporate communication and brand differentiation (β = 0.022 and t-value = 3.668), and between strategic resources and brand differentiation (β = 0.289 and t-value = 2.247). This study is a pioneering attempt in Iran to measure the impact of corporate reputation on brand differentiation strategy. PMID:29552075

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.

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 ...

Drug repurposing from the perspective of pharmaceutical companies.

Science.gov (United States)

Cha, Y; Erez, T; Reynolds, I J; Kumar, D; Ross, J; Koytiger, G; Kusko, R; Zeskind, B; Risso, S; Kagan, E; Papapetropoulos, S; Grossman, I; Laifenfeld, D

2018-01-01

Drug repurposing holds the potential to bring medications with known safety profiles to new patient populations. Numerous examples exist for the identification of new indications for existing molecules, most stemming from serendipitous findings or focused recent efforts specifically limited to the mode of action of a specific drug. In recent years, the need for new approaches to drug research and development, combined with the advent of big data repositories and associated analytical methods, has generated interest in developing systematic approaches to drug repurposing. A variety of innovative computational methods to enable systematic repurposing screens, experimental as well as through in silico approaches, have emerged. An efficient drug repurposing pipeline requires the combination of access to molecular data, appropriate analytical expertise to enable robust insights, expertise and experimental set-up for validation and clinical development know-how. In this review, we describe some of the main approaches to systematic repurposing and discuss the various players in this field and the need for strategic collaborations to increase the likelihood of success in bringing existing molecules to new indications, as well as the current advantages, considerations and challenges in repurposing as a drug development strategy pursued by pharmaceutical companies. This article is part of a themed section on Inventing New Therapies Without Reinventing the Wheel: The Power of Drug Repurposing. To view the other articles in this section visit http://onlinelibrary.wiley.com/doi/10.1111/bph.v175.2/issuetoc. © 2017 The British Pharmacological Society.

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

The Effects of Technology Entrepreneurship on Customers and Society: A Case Study of a Spanish Pharmaceutical Distribution Company.

Science.gov (United States)

Muñoz, Rosa M; Sánchez de Pablo, Jesús D; Peña, Isidro; Salinero, Yolanda

2016-01-01

The main purpose of this paper is to provide an understanding, within the field of corporate entrepreneurship, of the various factors that enable technology entrepreneurship in established firms and its principal effects on customers and society. The paper reports on a case study regarding technology entrepreneurship in a Spanish company whose activity is pharmaceutical distribution. This company has been able to overcome the consequences of the worldwide crisis and start an innovative process which includes the installation of new information technology (IT) and an investment of 6 million Euros. It is, in this respect, a model to imitate and the objective of this paper is therefore to discover the managers' entrepreneurial orientation (EO) characteristics which have made this possible, along with the organizational and social effects resulting from the process. We verify that EO is present in this company and that the development of new IT has important effects on customers and the population.

The Effects of Technology Entrepreneurship on Customers and Society: A Case Study of a Spanish Pharmaceutical Distribution Company

Science.gov (United States)

Muñoz, Rosa M.; Sánchez de Pablo, Jesús D.; Peña, Isidro; Salinero, Yolanda

2016-01-01

The main purpose of this paper is to provide an understanding, within the field of corporate entrepreneurship, of the various factors that enable technology entrepreneurship in established firms and its principal effects on customers and society. The paper reports on a case study regarding technology entrepreneurship in a Spanish company whose activity is pharmaceutical distribution. This company has been able to overcome the consequences of the worldwide crisis and start an innovative process which includes the installation of new information technology (IT) and an investment of 6 million Euros. It is, in this respect, a model to imitate and the objective of this paper is therefore to discover the managers’ entrepreneurial orientation (EO) characteristics which have made this possible, along with the organizational and social effects resulting from the process. We verify that EO is present in this company and that the development of new IT has important effects on customers and the population. PMID:27445938

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 ...

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...

[The influence of the relationship between physicians and pharmaceutical companies on the patient from the point of view of policy-makers in Israel].

Science.gov (United States)

Nissanholtz-Gannot, Rachel; Shani, Segev; Shvarts, Shifra

2010-11-01

The relationship between doctors and pharmaceutical companies is an integral part of the health system in Israel and the whole world. The mutual need for such a relationship requires us, as a society, to examine its influence on the individual and the system as a whole. This research examines the relationship from the points of view of the relevant parties within the health system and outside the health system (decision-makers). The authors used in-depth interviews and qualitative research methods in order to examine and understand the various positions of decision-makers. The position of the decision-makers, regarding all the aspects of this relationship, expresses their wishes and depends on their point of view. The impact of the relationship between the doctors and the pharmaceutical companies was examined with regard to the prescription behavior of the doctor. All the government representatives, all the physicians' representatives and those of the health funds, believe that the physicians' prescription behavior is impacted by the relationship. There are those who perceive this to be a negative trend and some doctors believe it to be a positive trend. With regard to possible harm to the patient, the parties believe that the relationship does not harm the patient, whereas most of the government representatives identify harm to the patients, both on the economic and health levels. The authors believe that the "influence" which exists or could exist on the part of the pharmaceutical companies is the main stumbling block in this relationship, which is expressed in the decision-makers' perspective.

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.

Bioremediation Kinetics of Pharmaceutical Industrial Effluent

OpenAIRE

M. Šabić; M. Vuković Domanovac; Z. Findrik Blažević; E. Meštrović

2015-01-01

In recent years, concerns about the occurrence and fate of pharmaceuticals that could be present in water and wastewater has gained increasing attention. With the public’s enhanced awareness of eco-safety, environmentally benign methods based on microorganisms have become more accepted methods of removing pollutants from aquatic systems. This study investigates bioremediation of pharmaceutical wastewater from pharmaceutical company Pliva Hrvatska d.o.o., using activated sludge and bioaugmente...

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...

Russian Pharmaceutical Companies Export Potential in Emerging Regional Clusters

OpenAIRE

Elena Vladimirovna Sapir; Igor Andreyevich Karachyov; Mingzhu Zhang

2016-01-01

This article analyzes a diverse range of the enterprise’s export potential growth factors in emerging pharmaceutical clusters of Central European Russia. Classification and comparative analysis were used to identify export potential attributes (production, finance, labor and marketing), which have allowed to reveal the strong connection of cluster and regional factor groups with the results of export performance. The purpose of the study is to provide exports-seeking pharmaceutical c...

Pharmaceutical supply chain risk assessment in Iran using analytic hierarchy process (AHP) and simple additive weighting (SAW) methods.

Science.gov (United States)

Jaberidoost, Mona; Olfat, Laya; Hosseini, Alireza; Kebriaeezadeh, Abbas; Abdollahi, Mohammad; Alaeddini, Mahdi; Dinarvand, Rassoul

2015-01-01

Pharmaceutical supply chain is a significant component of the health system in supplying medicines, particularly in countries where main drugs are provided by local pharmaceutical companies. No previous studies exist assessing risks and disruptions in pharmaceutical companies while assessing the pharmaceutical supply chain. Any risks affecting the pharmaceutical companies could disrupt supply medicines and health system efficiency. The goal of this study was the risk assessment in pharmaceutical industry in Iran considering process's priority, hazard and probability of risks. The study was carried out in 4 phases; risk identification through literature review, risk identification in Iranian pharmaceutical companies through interview with experts, risk analysis through a questionnaire and consultation with experts using group analytic hierarchy process (AHP) method and rating scale (RS) and risk evaluation of simple additive weighting (SAW) method. In total, 86 main risks were identified in the pharmaceutical supply chain with perspective of pharmaceutical companies classified in 11 classes. The majority of risks described in this study were related to the financial and economic category. Also financial management was found to be the most important factor for consideration. Although pharmaceutical industry and supply chain were affected by current political conditions in Iran during the study time, but half of total risks in the pharmaceutical supply chain were found to be internal risks which could be fixed by companies, internally. Likewise, political status and related risks forced companies to focus more on financial and supply management resulting in less attention to quality management.

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.

A survey of pharmaceutical company representative interactions with doctors in Libya

Directory of Open Access Journals (Sweden)

Mustafa A. Alssageer

2012-09-01

Full Text Available Objectives: To examine the frequency of pharmaceutical company representative (PCR interactions with doctors in Libya and review possible associations between these interactions and the personal and practice setting characteristics of doctors. Method: An anonymous survey questionnaire was circulated to 1,000 Libyan doctors in selected public and private practice settings in Tripoli, Benghazi and Sebha. Results: A questionnaire return rate of 61% (608 returned questionnaires was achieved. Most respondents (94% reported that they had been visited by PCRs at least ‘once’ in the last year. Fifty per cent of respondents met with PCRs at least once a month, and 20% at least once a week. The following characteristics were significantly associated with meeting with a representative more than once a week: age, gender (male > female, years of practice, being a specialist (other than an anaesthesiologist or working in private practice. Ninety-one per cent of doctors reported that they had received at least one kind of relationship gift during the last year. Printed materials (79%, simple gifts (73% and drug samples (69% were the most common relationship products given to respondents. Reimbursements or sponsored items were reported by 33% of respondents. Physician specialists were more likely to receive drug samples or sponsored items than residents, general practitioners, anaesthesiologists or surgeons (P<0.01. Participants working in private practice alone or in both sectors were more likely to receive printed materials, simple gifts or free samples from PCRs than doctors working in the public sector (P<0.05. Conclusion: Libyan doctors are frequently visited by PCRs. Doctors, working in private practice or specialist practice, are especially targeted by promotional activities. An agreed code of conduct for pharmaceutical promotion in Libya between doctors and PCRs should be created.

Information sources and utilization patterns of pharmaceutical ...

African Journals Online (AJOL)

The study investigated the adequacy of pharmaceutical scientists' information environment in feeding their occupational activities. Data was collected through observation and through questionnaire administration to all the twenty-seven scientists in two large pharmaceutical companies in Lagos, Nigeria. Findings revealed ...

Pharmaceutical Company Corruption and the Moral Crisis in Medicine.

Science.gov (United States)

Batt, Sharon

2016-07-01

A much-debated series of articles in the New England Journal of Medicine in May 2015 labeled the pharmaceutical industry's critics "pharmascolds." Having followed the debate for two decades, I count myself among the scolds. The weight of the evidence overwhelmingly supports the claim that pharmaceutical policy no longer serves the public interest; the central questions now are how this happened and what to do about it. I approached three of the most recent books on the industry with these questions in mind. Deadly Medicine and Organized Crime (CRC Press, 2013), by Peter Gøtzsche, Bad Pharma (Faber & Faber, 2013), by Ben Goldacre, and Good Pharma (Palgrave MacMillan, 2015), by Donald Light and Antonio Maturo, all situate their critical assessments in high-income countries globally, depicting the problem of pharmaceuticals as too many drugs approved with too little evidence, causing too many needless deaths, and prices spiraling to heights unimaginable just a decade ago. Light and Maturo, while no less critical of the status quo than Gøtzsche and Goldacre, take a different tack: they detail the success of an alternative model for pharmaceutical research, the Mario Negri Institute in Italy, citing it as proof positive that we can indeed defy capitalism's profit imperative. © 2016 The Hastings Center.

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)

On international cost-sharing of pharmaceutical R&D.

Science.gov (United States)

Barros, Pedro Pita; Martinez-Giralt, Xavier

2008-12-01

Ramsey pricing has been proposed in the pharmaceutical industry as a principle to price discriminate among markets while allowing to recover the (fixed) R&D cost. However, such analyses neglect the presence of insurance or the fund raising costs for most of drug reimbursement. By incorporating these new elements, we aim at providing some building blocks towards an economic theory incorporating Ramsey pricing and insurance coverage. We show how coinsurance affects the optimal prices to pay for the R&D investment. We also show that under certain conditions, there is no strategic incentive by governments to set coinsurance rates in order to shift the financial burden of R&D. This will have important implications to the application of Ramsey pricing principles to pharmaceutical products across countries.

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

Micro factors bringing the pharmaceutical industry to a seismic shaking a qualitative research.

Science.gov (United States)

Dierks, Raphaela Marie Louisa; Bruyère, Olivier; Reginster, Jean-Yves

2017-06-01

Due to changing macro and micro factors, expiring patents and falling net income, pharmaceutical companies need to rethink their vertical business model. The trend shows cross-sectorial partnerships and consolidation to remain and compete on the market. Areas covered: Quantitative research interviewing a target group of 25 key executives from small, mid and large global pharmaceutical companies rounded with qualitative literature research completing the analysis. Expert commentary: Uncertainty in the industry due to changing external factors i.e. pricing pressures, regulations or an economic slowdown, slowing down innovations and new drug outcomes. Pharmaceutical companies understand the existing hurdles, and are critically optimistic implementing new business models. Also, various stakeholders are included in the value chain due to their growing importance. During the next years, the industry will be restructured from volume towards value, and only pharmaceutical companies' clairaudient and reciprocate to the changes with an out-off the box thinking will be able to resist on the market. Small biotech companies should focus on research, and big pharmaceutical companies entering at development focusing on the process until the distribution. This execution business recommendation would enable the best know-how at the right point, mitigating the risk and enhancing the patient outcomes.

Creating knowledge structures in the pharmaceutical industry: the increasing significance of virtual organisation.

Science.gov (United States)

Salazar, A; Howells, J

2000-01-01

This paper explores the specific trend and challenges facing the pharmaceutical industry regarding the exploitation of Internet e-commerce technology and virtual organisation to develop and maintain competitive advantage. There are two important facets of the current trend. One is the rapid development of a complex network of alliances between the established pharmaceutical companies and the specialised biotechnology company start-ups. The other is the rapid growth of internet e-commerce companies dedicated to developing specialised technological platforms for acquiring and selling genetic and biochemical knowledge. The underlying challenge is how big pharmaceutical companies can emulate some of the innovation processes of smaller biotechnology company start-ups, and how they can appropriate and applied new technological knowledge on the development of new drugs. Pharmaceutical companies in order to retain competitive advantage need to continuously monitor all aspects of knowledge management with regard to the R&D and manufacturing process (as well as customer management and marketing). Technological change and organisational restructuring should be aimed at boosting the capacity of large firms to innovate rapidly.

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.

Application of the Lean Methodology in a company from the pharmaceutical and food industry

Directory of Open Access Journals (Sweden)

Juliana Keiko Sagawa

2016-06-01

Full Text Available The main goal of Lean Manufacturing is the reduction of waste and consequently the improvement of manufacturing efficiency and quality. This paper presents a case study in a company from the pharmaceutical, health and food industry. The value stream was mapped, aiming to identify waste and the possible ways of reducing it, according to the lean principles. Among the proposed solutions is the implementation of Kanban cards and the implementation of a panel for stock control and production leveling (heijunka. A 70% reduction of the total lead time was estimated as a potential result (from 71 to 19 days. The proposed improvements sought to provide a balance given the trade-off between more flexible production with smaller batches, and the lower total set up time of larger batches.

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

Regulation and competition in the Taiwanese pharmaceutical market under national health insurance.

Science.gov (United States)

Liu, Ya-Ming; Yang, Yea-Huei Kao; Hsieh, Chee-Ruey

2012-05-01

This article investigates the determinants of the prices of pharmaceuticals and their impact on the demand for prescription drugs in the context of Taiwan's pharmaceutical market where medical providers earn profit directly from prescribing and dispensing drugs. Based on product-level data, we find evidence that the profit-seeking behavior of the medical providers in the prescription drug market transfers the force of competition from the unregulated wholesale market to the regulated retail market and hence market competition still plays an important role in the determination of the regulated price. We also find that the profit-seeking behavior plays a similar role to advertising in that it increases the brand loyalty and hence lowers price elasticity. An important implication of our study is that the institutional features in the pharmaceutical market matter in shaping the nature of pharmaceutical competition and the responsiveness of pharmaceutical consumption with respect to changes in price. Copyright © 2012 Elsevier B.V. All rights reserved.

Pharmacoligaclly Active: Clinical Trials and the Pharmaceuticals ...

African Journals Online (AJOL)

Multinational pharmaceutical companies ('pharmas') import and produce pharmaceuticals and also conduct clinical trials which are an important aspect of research and development (R&D). This may raise the question: Is South Africa a guinea pig for the pharmas? The Department of Trade and Industry National Industrial ...

Conceptualizing Pharmaceutical Plants

DEFF Research Database (Denmark)

Larsen, Bent Dalgaard; Jensen, Klaes Ladeby; Gjøl, Mikkel

2006-01-01

In the conceptual design phase of pharmaceutical plants as much as 80%-90% of the total cost of a project is committed. It is therefore essential that the chosen concept is viable. In this design process configuration and 3D models can help validate the decisions made. Designing 3D models...... is a complex task and requires skilled users. We demonstrate that a simple 2D/3D configuration tool can support conceptualizing of pharmaceutical plants. Present paper reports on preliminary results from a full scale implementation project at a Danish engineering company....

ANALYSIS OF PHARMACEUTICAL COMPANIES’ ACTIVITIES THAT ARE DIRECTED TO PHYSICIANS IN EGYPT

Directory of Open Access Journals (Sweden)

M. M. Bahlol

2016-01-01

Full Text Available Purpose. Pharmaceutical market is one of the largest world markets with its own conditions. In Middle East, Egypt is a major pharmaceutical emerging market and has geographical, historical and political effective leading role among Arab countries. This research aims to investigate pharmaceutical companies’ activities in Egypt directed to physicians.Methodology. Urveying through simple random probability sampling is the approach appropriate for broad and representative overview of situation in research. Therefore, a survey of 1068 physicians was conducted through interviews and establishing structured data collection questionnaire.Originality. This is the first empirical paper to investigate pharmaceutical companies’ activities directed to physicians in pharmaceutical market of Egypt. These activities include identifying pharmaceutical companies through visits of medical representatives, analysis of those visits, frequency of medical representatives’ visits, characteristics of information introduced by medical representatives to physicians, physicians’ trust in provided information, spending of pharmaceutical companies on physicians, promotional techniques applied by medical representatives. These findings are useful for managers in pharmaceutical industry. They can be also useful in other industries such as medical equipment.Findings. Pharmaceutical companies are employing medical representatives widely, as the most effective and widely-applied promotion tool in Egypt.Practical Implications. Coordinate marketing management vision with pharmaceutical market real context will lead to synergism effect in utilizing medical representatives’ activities.

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.

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.

Pharmaceutical supply chain risks: a systematic review

Science.gov (United States)

2013-01-01

Introduction Supply of medicine as a strategic product in any health system is a top priority. Pharmaceutical companies, a major player of the drug supply chain, are subject to many risks. These risks disrupt the supply of medicine in many ways such as their quantity and quality and their delivery to the right place and customers and at the right time. Therefore risk identification in the supply process of pharmaceutical companies and mitigate them is highly recommended. Objective In this study it is attempted to investigate pharmaceutical supply chain risks with perspective of manufacturing companies. Methods Scopus, PubMed, Web of Science bibliographic databases and Google scholar scientific search engines were searched for pharmaceutical supply chain risk management studies with 6 different groups of keywords. All results found by keywords were reviewed and none-relevant articles were excluded by outcome of interests and researcher boundaries of study within 4 steps and through a systematic method. Results Nine articles were included in the systematic review and totally 50 main risks based on study outcome of interest extracted which classified in 7 categories. Most of reported risks were related to supply and supplier issues. Organization and strategy issues, financial, logistic, political, market and regulatory issues were in next level of importance. Conclusion It was shown that the majority of risks in pharmaceutical supply chain were internal risks due to processes, people and functions mismanagement which could be managed by suitable mitigation strategies. PMID:24355166

Pharmaceutical supply chain risks: a systematic review.

Science.gov (United States)

Jaberidoost, Mona; Nikfar, Shekoufeh; Abdollahiasl, Akbar; Dinarvand, Rassoul

2013-12-19

Supply of medicine as a strategic product in any health system is a top priority. Pharmaceutical companies, a major player of the drug supply chain, are subject to many risks. These risks disrupt the supply of medicine in many ways such as their quantity and quality and their delivery to the right place and customers and at the right time. Therefore risk identification in the supply process of pharmaceutical companies and mitigate them is highly recommended. In this study it is attempted to investigate pharmaceutical supply chain risks with perspective of manufacturing companies. Scopus, PubMed, Web of Science bibliographic databases and Google scholar scientific search engines were searched for pharmaceutical supply chain risk management studies with 6 different groups of keywords. All results found by keywords were reviewed and none-relevant articles were excluded by outcome of interests and researcher boundaries of study within 4 steps and through a systematic method. Nine articles were included in the systematic review and totally 50 main risks based on study outcome of interest extracted which classified in 7 categories. Most of reported risks were related to supply and supplier issues. Organization and strategy issues, financial, logistic, political, market and regulatory issues were in next level of importance. It was shown that the majority of risks in pharmaceutical supply chain were internal risks due to processes, people and functions mismanagement which could be managed by suitable mitigation strategies.

INNOVATIVE AND INDUSTRIAL-PERFORMANCE IN PHARMACEUTICAL RESEARCH-AND-DEVELOPMENT, A MANAGEMENT CONTROL PERSPECTIVE

NARCIS (Netherlands)

OMTA, SWF; BOUTER, LM; VANENGELEN, JML

In this paper management control is related to innovative and industrial performance in 14 non-biotech pharmaceutical companies. The study consisted of questionnaires, sent to the heads of the different research departments of European research laboratories of leading pharmaceutical companies,

CONSUMER PERCEPTION AND BRAND LOYALTY TOWARDS OVER THE COUNTER BRAND MEDICINES OF MAJOR PHARMACEUTICALS COMPANIES WITH SPECIAL REFERENCE TO RAJASTHAN

OpenAIRE

Abhishek Dadhich; Prof. (Dr.) Kavaldeep Dixit

2017-01-01

The study intends to explore the consumer perception towards over-the-counter (OTC) medicines and factors that influence consumer buying behavior for OTC brand medicines marketed by pharmaceutical companies. It also aims to study the impact of marketing mix factors on consumer perception and OTC brand loyalty. The research is descriptive in nature. It is based on primary data which is collected via structured questionnaire. The hundred respondents were participated in pilot study to understan...

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

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

Proceed to the innovation in the pharmaceutical industry. The case of Spain

Directory of Open Access Journals (Sweden)

Aída Salazar García

2015-01-01

Full Text Available This article explores sectors identified innovation in Spanish pharmaceutical companies. It also considers domestic firms and foreign subsidiaries in the country. The analysis covers the period 2009 to 2011 for a population N=200 affiliates at that time Farmaindustria and Plan Profarma. The work involved a search of useful information on the websites of pharmaceutical companies based in Spain statically describes the innovative profile of the Spanish pharmaceutical through descriptive statistical analysis. Thus a foundation for documenting the results in a database in order to get a picture with determination on the behavior of Spanish pharmaceutical sector and possible trends is created.The high content of literary contribution on the pharmaceutical sector is expressed in a globalized national and international level, rejecting data and information that could provide signals threat or opportunity regarding short period time, and which in turn are comparable to other years since the Spanish pharmaceutical industry is constituted by companies of foreign origin (50.5% and domestic capital (49.5%. Of the latter SMEs are the protagonists of small innovations established in Madrid and Barcelona mainly.

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.

How pharmaceutical industry employees manage competing commitments in the face of public criticism.

Science.gov (United States)

Lipworth, Wendy; Montgomery, Kathleen; Little, Miles

2013-10-01

The pharmaceutical industry has been criticised for pervasive misconduct. These concerns have generally resulted in increasing regulation. While such regulation is no doubt necessary, it tends to assume that everyone working for pharmaceutical companies is equally motivated by commerce, without much understanding of the specific views and experiences of those who work in different parts of the industry. In order to gain a more nuanced picture of the work that goes on in the "medical affairs" departments of pharmaceutical companies, we conducted 15 semi-structured interviews with professionals working in medical departments of companies in Sydney, Australia. We show that this group of pharmaceutical professionals are committed to their responsibilities both to patients, research participants, and the public and to their companies. Despite the discrepancies between these commitments, our participants did not express much cognitive dissonance, and this appeared to stem from their use of two dialectically related strategies, one of which embraces commerce and the other of which resists the commercial imperative. We interpret these findings through the lens of institutional theory and consider their implications for pharmaceutical ethics and governance.

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

Are results from pharmaceutical-company-sponsored studies available to the public?

Science.gov (United States)

Dal-Ré, Rafael; Pedromingo, Alejandro; García-Losa, Manuel; Lahuerta, Juan; Ortega, Rafael

2010-11-01

Only 53% and 63% of studies and clinical trials results presented at congresses are published. Company-sponsored trial results are being posted on publicly accessible Web sites. We analyzed the public availability (publication or posting on a Web site) rate, time to publication, and factors predicting public availability of results of studies sponsored by a pharmaceutical company. This was a retrospective cohort study analyzing all studies conducted by GlaxoSmithKline in Spain between 2001 and 2006. Initiation and completion were defined as first participant/first visit and last participant/last visit (or their equivalents). Papers published up to 31 March 2009 were considered. Logistic regression models were used to identify factors predicting public availability of results. The cohort comprised 143 studies (94 clinical trials; of these, 87 were included in international products clinical development plans). Public availability rate was 80% (114/143) for all studies and 78% (73/94) for clinical trials; publication rates were 68% and 61%, respectively. The median time to publication for all studies and trials was 27.3 and 28.4 months, respectively. Study associated to a cancelled project was the only significant factor associated with lower publication rate for all studies [odds ratio (OR) 0.069; 95% confidence interval (CI) 0.02-024; p public availability rate (OR 0.052; 95% CI 0.007-0.382; p = 0.004) for trial results. Therapy area, sample size, positive trial results, duration of experimental phase, and being a clinical trial did not predict publication or public availability. Eighty percent of studies included in this analysis are publicly available. Web site posting increases public availability rate of clinical trial results from 61% to 78%. Cancellation of projects is the single factor negatively influencing publication and public availability rates.

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

Directory of Open Access Journals (Sweden)

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.

[Dangerous liaisons--physicians and pharmaceutical sales representatives].

Science.gov (United States)

Granja, Mónica

2005-01-01

Interactions between physicians and detailers (even when legitimate ones) raise scientific and ethical questions. In Portugal little thinking and discussion has been done on the subject and the blames for bribery have monopolized the media. This work intended to review what has been said in medical literature about these interactions. How do physicians see themselves when interacting with pharmaceutical companies and their representatives? Do these companies in fact change their prescriptive behaviour, and, if so, how do they change it? How can physicians interact with detailers and still keep their best practice? A Medline research, from 1966 till 2002, was performed using the key-words as follows. A database similar to Medline but concerning medical journals published in Portugal, Index das Revistas Médicas Portuguesas, was also researched from 1992 to 2002. Pharmaceutical companies are profit bound and they allot promoting activities, and detailing in particular, huge amounts of money. Most physicians hold firmly to the belief that they are able to resist and not be influenced by drug companies promotion activities. Nevertheless, all previous works on literature tell us the opposite. Market research also indicates that detailers effectively promote drug sales. Various works also suggest that the information detailers provide to physicians may be largely incorrect, even comparing it to the written information provided by the pharmaceutical companies they work for. The frequency at which portuguese physicians (especially family physicians) contact with pharmaceutical sales representatives is higher than the frequency reported in countries where the available studies come from (namely, Canada and the United States of America). This may put portuguese physicians at a higher risk, making it imperative that work and wide debate are initiated among the class.

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.

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...

Pharmaceutical compounds in drinking water

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Vikas Chander

2016-06-01

Full Text Available Pharmaceutical products and their wastes play a major role in the degradation of environment. These drugs have positive as well as negative consequences on different environmental components including biota in different ways. Many types of pharmaceutical substances have been detected with significant concentrations through various advanced instrumental techniques in surface water, subsurface water, ground water, domestic waste water, municipal waste water and industrial effluents. The central as well as state governments in India are providing supports by creating excise duty free zones to promote the pharmaceutical manufacturers for their production. As a result, pharmaceutical companies are producing different types of pharmaceutical products at large scale and also producing complex non-biodegradable toxic wastes byproducts and releasing untreated or partially treated wastes in the environment in absence of strong regulations. These waste pollutants are contaminating all types of drinking water sources. The present paper focuses on water quality pollution by pharmaceutical pollutants, their occurrences, nature, metabolites and their fate in the environment.

Recognizing misleading pharmaceutical marketing online.

Science.gov (United States)

De Freitas, Julian; Falls, Brian A; Haque, Omar S; Bursztajn, Harold J

2014-01-01

In light of decision-making psychology, this article details how drug marketing operates across established and novel web domains and identifies some common misleading trends and influences on prescribing and patient-initiated medication requests. The Internet has allowed pharmaceutical marketing to become more salient than ever before. Although the Internet's growth has improved the dissemination of pharmaceutical information, it has also led to the increased influence of misleading pharmaceutical marketing. Such mismarketing is of concern, especially in psychiatry, since psychotropics generate considerable revenue for drug companies. In a climate of resource-limited drug regulation and time-strapped physicians, we recommend improving both independent monitoring and consumer awareness of Internet-enabled, potentially misleading, pharmaceutical marketing influences. © 2014 American Academy of Psychiatry and the Law.

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.

Postgraduate Courses in Pharmaceutical Medicine in Italy

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Domenico Criscuolo

2017-06-01

Full Text Available Italy has a significant tradition of excellence in the area of clinical trials (CTRs: important achievements in the clinical development of rifampicin and adriamycin, the two most famous drugs discovered in the research laboratories of two Italian pharmaceutical companies, paved the way to the establishment of a culture of clinical development, mainly in the areas of antimicrobials and oncology. Despite the fact that now the Italian market of pharmaceuticals is largely dominated by multinational companies with headquarters outside Italy, the contribution of Italian studies to the clinical development of new drugs is still significant. Indeed, it largely exceeds the percentage of Italian inhabitants versus the ones living in the remaining EU countries, as Italy has about 12% of EU population, but has a 17% share of the EU CTRs. Education in Pharmaceutical Medicine is now a must for all professionals interested to work either in pharma companies or in contract research organizations: several Italian universities are offering high quality courses, and in the last 10 years, more than 1,200 professionals received a postgraduate education in pharmaceutical medicine. This result places Italy on top of countries concerned about the professional education of people involved in drug development and will represent an asset for a larger involvement of Italian clinical sites in the global process of clinical research.

[Research in the pharmaceutical industry cannot be objective].

Science.gov (United States)

Becker-Brüser, Wolfgang

2010-01-01

In the face of tight public budgets more and more studies are being funded by the pharmaceutical industry. At the same time responsibility for conducting company-funded trials is increasingly being shifted to contract research organisations. Pharmaceutical manufacturers sponsor trials that primarily pursue company interests. The dominance of company-funded research does not only have a bearing on the choice of study priorities, though. Company sponsorship also has an influence on the results of trials. Company-funded trials are four times more likely to find evidence in favour of the trial drug than studies funded by other sponsors. There are several contributory factors, from study design (design bias) to data manipulation. And non-publication (publication bias) can distort knowledge. As a result, it is largely impossible to reliably assess the benefit and harm of medical drugs on the basis of published trials. This will have repercussions for the reliability of meta-analyses, guidelines and patient information leaflets. One consequence may be treatment errors.

Does brand differentiate pharmaceuticals?

Science.gov (United States)

Bednarik, Josef

2005-12-01

Role of marketing in pharmaceutical industry is increasing and inspiration by successful brands known from consumer goods market influenced pharmaceutical companies enough to switch their attention to branding initiatives. Still there is little evidence that pharmaceutical brands represent anything more than product only. This study aims to explore the area of branding in pharmaceutical industry. Central hypothesis of the research has been that brand and its emotional content differentiate pharmaceuticals as well as rational data derived from clinical studies. It has been tested by extensive review of available literature as well as by primary research focused on drivers of physicians' attitudes towards products and their influence on prescribing behavior. The research has been conducted in the sample of psychiatrists in the Czech Republic. No evidence about pharmaceutical brand exceeding value of product has been found in reviewed literature. Nevertheless, the primary research conducted in the sample of Czech psychiatrists indicates that emotional brand in pharmaceutical industry exists and enables author to draw a model of Customer/product life cycle that describes likely impact of functional, emotional and self-expressive benefits throughout pharmaceutical product's market presence. Pharmaceutical brand is likely to develop differently than the same of consumer goods products--it seems to be built predominantly on long-term positive experience. Marketing role in this process should lie in finding relevant product position and building brand identity compliant with real product capabilities.

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

[AIDS and social justice: pharmaceutical industry and economics].

Science.gov (United States)

López Guzmán, José

2008-01-01

This article takes a broad look at the complicated framework of relationships between the third world and pharmaceutical companies. In the first part of the work reference is made to the poverty of these countries, their lack of education in terms of health, the scarcity of basic hygiene, and their greatly limited access to medicines, especially those for treating AIDS. The article then proceeds to the issue of the pharmaceutical companies' degree of responsibility for the reduced availability of medicines in certain areas of the world. One of the factors that most limits access to medicines is their price, and many sectors of society propose taking action on the patents of drugs (rescinding or limiting them) in order to lower their price. However, the problem of patent exemption is more complicated than it seems at first glance, and comes with its own risks. If, for lack of funds or the uncertainty concerning a return on the capital invested, pharmaceutical companies discontinue research and development of new drugs, AIDS therapy would worsen. It is imperative and urgent to develop new drugs against the AIDS because of its resistance to the drugs currently available. The article concludes with the pharmaceutical industry's effort to look for possible forms of collaboration with developing countries.

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

Directory of Open Access Journals (Sweden)

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...

Exposure of medical students to pharmaceutical marketing in primary care settings: frequent and influential.

Science.gov (United States)

Sarikaya, Ozlem; Civaner, Murat; Vatansever, Kevser

2009-12-01

It is known that interaction between pharmaceutical companies and medical professionals may lead to corruption of professional values, irrational use of medicine, and negative effects on the patient-physician relationship. Medical students frequently interact with pharmaceutical company representatives and increasingly accept their gifts. Considering the move toward early clinical encounters and community-based education, which expose students early to pharmaceutical representatives, the influence of those gifts is becoming a matter of concern. This study examines the frequency and influence of student exposure to drug marketing in primary care settings, as well as student perceptions of physician-pharmaceutical company relationships. This was a two-phase study consisting of qualitative research followed by a cross-sectional survey. Clinical experience logbooks of 280 second-year students in one school were analysed, and the themes that emerged were used to develop a survey that was administered to 308 third-year students from two medical schools. Survey results showed a 91.2% exposure to any type of marketing, and 56.8% of students were exposed to all classes of marketing methods studied. Deliberate targeting of students by pharmaceutical representatives, in particular, was correlated with being less sensitive to the negative effects of and having positive opinions about interactions with pharmaceutical companies. The vast majority of students are exposed to drug marketing in primary care settings, and may become more vulnerable to that strategy. Considering that medical students are vulnerable and are targeted deliberately by pharmaceutical companies, interventions aimed at developing skills in the rational use of medicines and in strategies for coping with drug marketing should be devised.

Exposure of Medical Students to Pharmaceutical Marketing in Primary Care Settings: Frequent and Influential

Science.gov (United States)

Sarikaya, Ozlem; Civaner, Murat; Vatansever, Kevser

2009-01-01

It is known that interaction between pharmaceutical companies and medical professionals may lead to corruption of professional values, irrational use of medicine, and negative effects on the patient-physician relationship. Medical students frequently interact with pharmaceutical company representatives and increasingly accept their gifts.…

Neuromarketing techniques in pharmaceutical drugs advertising. A discussion and agenda for future research.

Science.gov (United States)

Orzan, G; Zara, I A; Purcarea, V L

2012-12-15

Recent years have seen an "explosion" in the abilities of scientists to use neuroscience in new domains. Unfortunately, it is little known and reported on how advertising companies make more effective pharmaceutical drugs commercials. The purpose of this paper is to analyze how neuromarketing techniques may impact the consumer response to pharmaceutical advertising campaigns. The result shows that using neuromarketing methods a pharmaceutical company can better understand the conscious and unconscious consumer's thoughts and tailor specific marketing messages.

Key differences and similarities in ways of managing and supporting radical pharmaceutical front end innovation

DEFF Research Database (Denmark)

Aagaard, Annabeth

2015-01-01

of the Danish and US based pharmaceutical company, H. Lundbeck A/S, and a comparative study including five European and American pharmaceutical companies. The findings from the study reveal a number of similarities and differences in innovation management and FEI support of radical projects and among...... pharmaceutical companies, which represent a growing market. The value added and the contribution of this paper to the existing FEI literature is therefore in the specificity of the empirical setting in which the issue is investigated. Read More: http://www.worldscientific.com/doi/abs/10.1142/S1363919615500115...