Sample records for insurance crisis insurance

  1. Insurance crisis

    Williams, P.L.


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

  2. Effectiveness of insurance risk management under crisis conditions

    I.G. Goncharenko


    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.




    Full Text Available Global economic and financial crisis triggered in 2008 had a significant impact with effects in economical life worldwide. Insurance industry wasn't spared but was less affected than other sectors of the world economy. The aim of the present paper is to underline the main crisis effects on global insurance market through a comparative study between different regions from the world, taking into consideration the main indicators which give us an insurance market dimension, such as: gross premium volume, insurance density and insurance penetration.

  4. The economic crisis and the insurance industry: The evidence from the ex-Yugoslavia region

    Njegomir Vladimir


    Full Text Available The paper analyses the impact of the economic crisis on the insurance industries of the ex-Yugoslavia region. The analysis encompasses five countries: Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and FYR Macedonia. We examine insurance industry specifics separately for each country for the period 2004-2008 and for the first six months of 2009. While the impact of the crisis varies between countries, the research results indicate that the global financial crisis has had limited overall impact on the regional insurance industry. However the current recession resulted in negative premium growth in Serbia, Croatia and FYR Macedonia while the growth in Slovenia and Bosnia and Herzegovina declined. At the same time investment returns have declined and claims have risen in all countries. The crisis had more pronounced impact on non-life insurance premium growth in less developed insurance markets. In developed markets, namely Slovenia and Croatia, the crisis had greater impact on life insurance premium growth.


    Vaidean Viorela-Ligia


    Full Text Available The insurance domain is one of the most complex and extensive areas of the market. However this field is very risk exposed especially in this period of economic instability. One of the most non-performant insurance products at this time is the credit insurance. Due to inability to pay and increasing bad loans, insurance companies have decided to remove these products from their portfolio. We believe that the signs that led to this situation have been very visible for a long time, but the insurance market players refused to give too much importance to them because they based their operations on the artificial strength of the whole system. In this paper we want to show how things have evolved on the credit insurance market as compared to the general insurance market, and if the present situation could have been anticipated and avoided.

  6. Impact of Economic Crisis on Credit Insurance Market in Romania

    Florina VÎRLANUTA


    Full Text Available Bank Insurance phenomenon can not be attributed primarily or banks or insurance institutions. Near the two sectors was due to mutations occurring in supply and demand for financial services. Convergence bankers and insurers are determined by common platform for each country of local influence by supervisors and reforms at the central level. Credit insurance has emerged as a necessity stemming from the fact that most trade agreements concluded in circumstances in which payment is partially or completely after delivery of the goods or services covered by the agreement, so the payment delayed or selling on credit.


    Cristinel CONSTANTIN


    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.

  8. Health Insurance

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

  9. Probabilistic Insurance

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


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

  10. Probabilistic Insurance

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


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

  11. Nuclear insurance



    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

  12. Probabilistic insurance

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


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

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

    Kočović Jelena


    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.

  14. School Insurance.


    The importance of insurance in the school budget is the theme of this comprehensive bulletin on the practices and policies for Texas school districts. Also considered is the development of desirable school board policies in purchasing insurance and operating the program. Areas of discussion are: risks to be covered, amount of coverage, values,…

  15. Forest insurance

    Ellis T. Williams


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


    Andreea Stoican


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

  17. Insurance dictionary

    Mueller-Lutz, H.L.


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

  18. The Economic Crisis and the Solidarity of Social Insurance Systems

    Domnica Doina Parcalabu


    Full Text Available In the first section we will briefly introduce the main impact of the global crisis on Romanian macroeconomics, financial markets with special focus on the pension systems, as well as the outlook of the international rating agencies and of the financial institutions regarding the reform solutions. The second section tackles the solidarity dimension of pension schemes, i.e. concepts like inter-generational, intra-generational, gender, and fiscal solidarity. The third section describes the pension reform measures tackled during the crisis providing also concise country profiles in CEE. These measures were mostly envisaged to mandate later retirement, reduce the deficit of Pillar I, change the pension indexation rules, eliminate privileged pension rights for special groups of workers, and improve benefits. The last section is to conclude with some policy implications.

  19. Nuclear insurance



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

  20. Inflation Insurance

    Zvi Bodie


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

  1. Crop insurance: Risks and models of insurance

    Čolović Vladimir


    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.


    Division HR


    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:

  3. Export insurance


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



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


    А. Sabirova


    Full Text Available The current state of the insurance market of Ukraine in the post-crisis period, by comparison with the pre-crisis was investigated in the paper. The insurance market in the pre-crisis period grew rapidly, but was unable to withstand the economic crisis and suffered a crushing blow. The economic crisis of 2008-2009 led to a decrease of the demand for financial services in general and insurance services in particular. The lack of development of the insurance market created high barriers for responding and adapting to changes that occurred during the crisis.

  6. Federal Deposit Insurance Corporation (FDIC) Insured Banks

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

  7. Unemployment Insurance Query (UIQ)

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

  8. The health insurance industry: perpetuating the opioid crisis through policies of cost-containment and profitability

    Schatman ME


    Full Text Available Michael E Schatman1, Lynn R Webster21Foundation for Ethics in Pain Care, Bellevue, WA, USA; 2PRA Health Sciences, Salt Lake City, UT, USA"People don’t trust private health insurance companies for all the right reasons." – Senator Bernie Sanders.Throughout the world, industrialized nations look at the USA and are befuddled by its opioid crisis. Between 1999 and 2011, we witnessed the number of opioid deaths in the USA increase from 4,030 to 16,917,1 with these figures having seemingly stabilized over the past several years.2 Many agree regarding the root causes of the crisis, with an analysis by Webster et al3 identifying health comorbidities (most prominently substance use disorders, payer policies mandating methadone as a first-line treatment option, physician error due to a lack of knowledge, patient nonadherence, unanticipated medical and mental health issues, concomitant utilization of other central nervous system depressants such as benzodiazepines, and sleep-disordered breathing as contributory.




    Full Text Available The financial crisis can generate instability in any field. High levels of perceived corruption, unethical behavior or high unemployment rate can be several relevant examples that can influence well-being. The purpose of this study is to group and compare EU countries in two important moments: before and after the financial crisis using clusters analysis. Our contributions consist in a new effort to understand the life insurance market. For example, in 2006 countries such as: Cyprus, Denmark, Estonia, Finland, Spain, Sweden or the UK were remarked by the lowest perceived corruption and inflation, medium levels of the population growth and highest: ethical behavior of firms, human development, penetration rate and employment, while Romania and other countries were characterized by the lowest levels of development and highest perceived corruption and inflation. In 2014, Austria, Czech Republic, Denmark, Estonia, Finland, Germany, Lithuania, Luxembourg, Spain, Sweden or the UK recorded the best values of our indicators. In addition, the situation of Romania has not improved significantly between 2006 and 2014.


    Botoş Horia Mircea


    Full Text Available This paper empirically investigates the impact of the Global financial crisis on the efficiency of four Central and Eastern European emerging unit-linked insurance markets, applying the automatic variance ratio (AVR test of Kim (2009 and variance ratio tests using ranks and signs by Wright (2000 for entire, pre-crisis and crisis periods. This study contributes to the existing literature on efficient market hypothesis with several distinct features: it provides a systematic review of the weak-form market efficiency literature that examines return predictability of the daily ING unit-linked funds prices; also the article aims at monitoring any improvement in the degree of efficiency in time and also examines the relative efficiency of unit-linked insurance markets in pre-crisis and crisis periods. Unit linked insurance are life insurance policies with investment component. In the literature there are few studies investigating the effects of a financial crisis on the potential of predictability and implicitly on the degree of efficiency of financial markets. The occurrence of a market crash or financial crisis is a possible contributing factor of market inefficiency. Most of the studies are focused on the Asian crisis in 1997: Holden et al. (2005 examined the weak-form efficiency of eight emerging Asian stock markets using VR tests before, during and after the Asian crisis; Kim and Shamsuddin (2008 used three different types of multiple VR tests for nine Asian stock markets; the findings reported by Lim et al. (2008 are consistent with those reported by Cheong et al. (2007, in which the highest inefficiency occurs during the crisis period. Todea and Lazar (2010 investigated the effects of the Global crisis on the relative efficiency of ten CEE stock markets, using Generalized Spectral test of Escanciano and Velasco (2006. Wright (2000 proposes the alternative non-parametric variance ratio tests using ranks and signs of return and demonstrates that

  11. The role of unemployment insurance during the economic and financial crisis

    Anca-Stefania SAVA


    Full Text Available The aim of this paper is to discuss the role of unemployment insurance during recession. Firstly, it presents a brief literature review, according to which unemployment insurance works as a built-in stabilizer for the economy. Secondly, it highlights certain characteristics of these programs in developed and developing countries, in recession periods. Also, it analyzes the evolution of Romanian unemployment insurance indicators during 2004-2009 and finds that public expenditures had an opposite trend to that of GDP and budgetary revenues, decreasing during periods of economic growthand increasing during the current recession, which suggests an interaction with the economic cycle.

  12. Women's Health Insurance Coverage

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

  13. Alternative health insurance schemes

    Keiding, Hans; Hansen, Bodil O.


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

  14. Health Insurance Basics

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

  15. Insurance of nuclear risk

    Lacroix, M.


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

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

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


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

  17. Chinese nuclear insurance and Chinese nuclear insurance pool

    Gong Zhiqi


    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

  18. Disability Income Insurance

    Hayhoe, Celia Ray; Smith, Mike, CPF


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

  19. Understanding health insurance plans

    ... page: // Understanding health insurance plans To use the sharing features on this ... plan for you and your family. Types of Health Insurance Plans Depending on how you get your health ...

  20. 24 CFR 266.602 - Mortgage insurance premium: Insured advances.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Insured... Contract Rights and Obligations Mortgage Insurance Premiums § 266.602 Mortgage insurance premium: Insured.... On each anniversary of the initial closing, the HFA shall pay an interim mortgage insurance premium...

  1. Farmers Insures Success

    Freifeld, Lorri


    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…

  2. Risks and nuclear insurance

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


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

  3. Public Insurance and Equality

    Landes, Xavier; Néron, Pierre-Yves


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

  4. [The state and health insurance].

    Lagrave, Michel


    The relationship between the State and the health insurance passes through an institutional and financial crisis, leading the government to decide a new governance of the health care system and of the health insurance. The onset of the institutional crisis is the consequence of the confusion of the roles played by the State and the social partners. The social democracy installed by the French plan in 1945 and the autonomy of management of the health insurance established by the 1967 ordinances have failed. The administration parity (union and MEDEF) flew into pieces. The State had to step in by failing. The light is put on the financial crisis by the evolution of ONDAM (National Objective of the Health Insurance Expenses) which appears in the yearly law financing Social Security. The drift of the real expenses as compared to the passed ONDAM bill is constant and worsening. The question of reform includes the link between social democracy to be restored (social partners) and political democracy (Parliament and Government) to establish a contractual democracy. The Government made the announcement of an ONDAM sincere and medically oriented, based on tools agreed upon by all parties. The region could become a regulating step involving a regional health council. An accounting magistrate would be needed to consider not only the legal aspect but to include economic fallouts of health insurance. The role and the missions of the Social Security Accounting Committee should be reinforced.

  5. Nuclear insurance fire risk

    Dressler, E.G.


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

  6. Nonlife Insurance Pricing:

    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.

  7. Catastrophic risks and insurance

    Deprimoz, J.


    This short communication deals with compensation for nuclear damage and compensation for environmental pollution through industrial activities and compress both systems and their insurance coverage [fr

  8. Prescriptions and Insurance Plans

    ... contributed by: editorial staff Categories: Healthcare Management, Insurance & Bills, Your Health ResourcesTags: brand name, co-pay, drug, formulary, generic, isurance, medicine, ...

  9. Uninsured vs. insured population

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


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

  10. The insurance of nuclear installations

    Francis, H.W.


    A brief account is given of the development of nuclear insurance. The subject is dealt with under the following headings: the need for nuclear insurance, nuclear insurance pools, international co-operation, nuclear installations which may be insured, international conventions relating to the liability of operators of nuclear installations, classes of nuclear insurance, nuclear reactor hazards and their assessment, future developments. (U.K.)

  11. Insuring against Health Shocks: Health Insurance and Household Choices

    Liu, Kai


    This paper provides empirical evidence on the role of public health insurance in mitigating adverse outcomes associated with health shocks. Exploiting the rollout of a universal health insurance program in rural China, I find that total household income and consumption are fully insured against health shocks even without access to health insurance. Household labor supply is an important insurance mechanism against health shocks. Access to health insurance helps households to maintain investme...

  12. Nuclear energy and insurance

    Dow, J.C.


    It was the risk of contamination of ships from the Pacific atmospheric atomic bomb tests in the 1940's that seems first to have set insurers thinking that a limited amount of cover would be a practical possibility if not a commercially-attractive proposition. One Chapter of this book traces the early, hesitant steps towards the evolution of ''nuclear insurance'', as it is usually called; a term of convenience rather than exactitude because it seems to suggest an entirely new branch of insurance with a status of its own like that of Marine, Life or Motor insurance. Insurance in the field of nuclear energy is more correctly regarded as the application of the usual, well-established forms of cover to unusual kinds of industrial plant, materials and liabilities, characterised by the peculiar dangers of radioactivity which have no parallel among the common hazards of industry and commerce. It had, and still has, the feature that individual insurance underwriters are none too keen to look upon nuclear risks as a potential source of good business and profit. Only by joining together in Syndicates or Pools have the members of the national insurance markets been able to make proper provision for nuclear risks; only by close international collaboration among the national Pools have the insurers of the world been able to assemble adequate capacity - though still, even after thirty years, not sufficient to provide complete coverage for a large nuclear installation. (author)

  13. Social health insurance

    International Labour Office. Geneva


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

  14. Insurance industry guide



    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

  15. Marketing in life insurance

    Njegomir Vladimir


    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.

  16. Unemployment Insurance and Inequality

    Larsen, Birthe; Waisman, Gisela

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

  17. Health insurance for "frontaliers"


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

  18. Terrorism Risk Insurance: An Overview

    Webel, Baird


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

  19. Disposition of Insurance Allotment Payments

    Young, Shelton


    .... 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...

  20. From universal health insurance to universal healthcare? The shifting health policy landscape in Ireland since the economic crisis.

    Burke, Sara Ann; Normand, Charles; Barry, Sarah; Thomas, Steve


    Ireland experienced one of the most severe economic crises of any OECD country. In 2011, a new government came to power amidst unprecedented health budget cuts. Despite a retrenchment in the ability of health resources to meet growing need, the government promised a universal, single-tiered health system, with access based solely on medical need. Key to this was introducing universal free GP care by 2015 and Universal Health Insurance from 2016 onwards. Delays in delivering universal access and a new health minister in 2014 resulted in a shift in language from 'universal health insurance' to 'universal healthcare'. During 2014 and 2015, there was an absence of clarity on what government meant by universal healthcare and divergence in policy measures from their initial intent of universalism. Despite the rhetoric of universal healthcare, years of austerity resulted in poorer access to essential healthcare and little extension of population coverage. The Irish health system is at a critical juncture in 2015, veering between a potential path to universal healthcare and a system, overwhelmed by years of austerity, which maintains the status quo. This papers assesses the gap between policy intent and practice and the difficulties in implementing major health system reform especially while emerging from an economic crisis. Copyright © 2015 The Authors. Published by Elsevier Ireland Ltd.. All rights reserved.

  1. Insurance: Accounting, Regulation, Actuarial Science

    Alain Tosetti; Thomas Behar; Michel Fromenteau; Stéphane Ménart


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

  2. Risk Management in Insurance Companies

    Yang, Xufeng


    Insurance is the uncertain business in uncertain society. Today, insures face more complex and difficult risks. Efficient risk management mechanisms are essential for the insurers. The paper is set out initially to explore UK insurance companies risk management and risk disclosure by examining companies annual report after all the listed insurance companies are required to disclose risk information in their annual report, which seeks to reflect the recent development in UK insurance companies...

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

    Collison, Michele N-K


    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.…

  4. Health insurance basic actuarial models

    Pitacco, Ermanno


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

  5. Insurability of Terrorism Risks

    Harbruecker, D.


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

  6. Insuring against health shocks: Health insurance and household choices.

    Liu, Kai


    This paper provides empirical evidence on the role of public health insurance in mitigating adverse outcomes associated with health shocks. Exploiting the rollout of a universal health insurance program in rural China, I find that total household income and consumption are fully insured against health shocks even without access to health insurance. Household labor supply is an important insurance mechanism against health shocks. Access to health insurance helps households to maintain investment in children's human capital during negative health shocks, which suggests that one benefit of health insurance could arise from reducing the use of costly smoothing mechanisms. Copyright © 2016 Elsevier B.V. All rights reserved.

  7. Optimum amount of an insurance sum in life insurance

    Janez Balkovec


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

  8. Group life insurance


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

  9. Vaccines as Epidemic Insurance.

    Pauly, Mark V


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

  10. Vaccines as Epidemic Insurance

    Mark V. Pauly


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

  11. M. Nuclear insurance


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

  12. Building and Contents Insurance.

    Freese, William C.

    Insurance coverage of school buildings and contents is becoming increasingly difficult to obtain, and increases of 50 percent or more in the premium are not uncommon. Methods of reducing premium increases are outlined in this speech. (MLF)

  13. HUD Insured Hospitals

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

  14. Deductibles in health insurance

    Dimitriyadis, I.; Öney, Ü. N.


    This study is an extension to a simulation study that has been developed to determine ruin probabilities in health insurance. The study concentrates on inpatient and outpatient benefits for customers of varying age bands. Loss distributions are modelled through the Allianz tool pack for different classes of insureds. Premiums at different levels of deductibles are derived in the simulation and ruin probabilities are computed assuming a linear loading on the premium. The increase in the probability of ruin at high levels of the deductible clearly shows the insufficiency of proportional loading in deductible premiums. The PH-transform pricing rule developed by Wang is analyzed as an alternative pricing rule. A simple case, where an insured is assumed to be an exponential utility decision maker while the insurer's pricing rule is a PH-transform is also treated.

  15. Prevention in insurance markets

    Marie-Cécile FAGART; Bidénam KAMBIA-CHOPIN


    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...

  16. Consumer in insurance law

    Čorkalo Milena


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


    R. Pikus


    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.




    In order to encourage entry and lower prices, most regulated markets for health insurance include policies that seek to reduce the uncertainty faced by insurers. In addition to risk adjustment of premiums paid to plans, the Health Insurance Marketplaces established by the Affordable Care Act implement reinsurance and risk corridors. Reinsurance limits insurer costs associated with specific individuals, while risk corridors protect against aggregate losses. Both tighten the insurer's distribut...


    Zeljko Sain


    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.

  20. Group Life Insurance


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

  1. Serbian insurance market: Select issues

    Obadović Mirjana M.


    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.

  2. Dental insurance! Are we ready?

    Ravi SS Toor


    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.


    Madalina Giorgiana MANGRA


    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

  4. Insurance against nuclear risks

    Dow, J.C.


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

  5. Nuclear insurance and indemnity

    Kovan, D.


    A brief account is given of insurance protection in the nuclear industry, and the legislation involved. Aspects discussed are: third part liability and the role of government in setting the maximum amount of compensation; the development and concept of channelling the liability exclusively to the operator; the development of nuclear insurance facilities in Europe and the USA; and the emergence in Europe of international agreements on third party liability for protection of neighbouring countries in the event of a major accident. The development of liability law in the USA from the time of the Price Anderson Act of 1957 through subsequent legislation is described. (U.K.)

  6. American nuclear insurers

    Oliveira, R.A.


    Nuclear liability insurance covers liability for damages directly caused by the nuclear energy hazard. This coverage includes offsite bodily injury and property damage sustained by members of the general public, and bodily injury to onsite third party personnel. Recent nuclear liability claims allege bodily injury and property damage resulting from releases or radioactive materials to the environmental and occupational radiation worker exposures. Routine reactor operations involving radioactive waste have the potential to result in such claims. The nuclear insurance Pools believe that one way such claims can be minimized is through the implementation of an effective radioactive waste management program

  7. Lectures on insurance models

    Ramasubramanian, S


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

  8. Counseling as an Insured Benefit: Perspectives from the Insurance Industry

    Fulton, Wallace C.


    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)

  9. Disability Insurance and Health Insurance Reform: Evidence from Massachusetts

    Nicole Maestas; Kathleen J. Mullen; Alexander Strand


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


    Sanja Coric; Danijel Bara


    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 ...

  11. 78 FR 56583 - Deposit Insurance Regulations; Definition of Insured Deposit


    ... as a potential global deposit insurer, preserve confidence in the FDIC deposit insurance system, and... the United States.\\2\\ The FDIC generally pays out deposit insurance on the next business day after a... since 2001 and total approximately $1 trillion today. In many cases, these branches do not engage in...

  12. Voluntary Public Unemployment Insurance

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

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

  13. Insurance: Covering the bases

    Burr, M.T.


    This article addresses steps to take to improve the economics and risk profiles for independent power projects. The topics discussed in the article include the results of competition in the power industry, custom packages and the lack of competition among insurers in the power industry, mitigating risk through providing technical information, and developing programs

  14. Consumers’ Collision Insurance Decisions

    Austin, Laurel; Fischhoff, Baruch

    Using interviews with 74 drivers, we elicit and analyse how people think about collision coverage and, more generally, about insurance decisions. We compare the judgments and behaviours of these decision makers to the predictions of a range of theoretical models: (a) A model developed by Lee (200...

  15. Trends in pension insurance

    D. Shterev


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




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

  17. Business intelligence for insurance companies



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


    A. Ignatiuk


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




    Full Text Available The paper presents the techniques and the formulas used on international practice for establishing the premiums for a life policy. The formulas are generally based on a series of indicators named mortality indicators which mainly point out the insured survival probability, the death probability and life expectancy at certain age. I determined, using a case study, the unique net premium, the annual net premium for a survival insurance, whole life insurance and mixed life insurance.

  20. Insurance - Piper Alpha ''et al''

    Hales, K.


    This paper opens with some brief information about the Piper Alpha loss, how the loss was handled and its final cost. More importantly, it discusses the effect of the Piper Alpha loss on the world insurance market including the oil insurance captives such as O.I.L Limited. Finally, the insurance market current status and prognosis for the future are considered. (Author)

  1. Premium Forecasting of an Insurance Company: Automobile Insurance

    Fouladvand, M. Ebrahim; Darooneh, Amir H.


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

  2. A utility theory approach for insurance pricing

    Mohsen Gharakhani


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

  3. 46 CFR 308.403 - Insured amounts.


    ... 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...

  4. Health Insurance without Single Crossing

    Boone, Jan; Schottmüller, Christoph


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

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

    Hung, Hung-Chih; Hung, Jia-Yi


    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

  6. Modern problems in insurance mathematics

    Martin-Löf, Anders


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

  7. Financing and insurance problems

    Laurenge, M.-T.


    The author analyses the papers presented at the Paris Conference on the maturity of nuclear energy. It is evident that financing possibilities will be a determinant factor in the rate of development of nuclear power during the years to come. After having evaluated the capital requirements necessitated for the development of nuclear programmes, the parties intervening have examined the means at the disposal of electricity manufacturers to meet these needs (self-financing, recourse to external financing, regrouping, on an international scale of the electricity manufacturers of the setting up of high capacity plants). As concerns the insurance problems, they are becoming more and more involved as nuclear applications, are further diversified and intensified. The parties intervening have discussed new tarification techniques likely to be applied and pointed out the possibilities offered by regrouping or pooling of insurers (Market Pool) which allow for a maximum of risks to be covered without exceeding the means proper to each company concerned [fr

  8. Nuclear energy and insurance

    Ekener, H.


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

  9. Life insurance mathematics

    Gerber, Hans U


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

  10. Investment Strategy and Efficiency of Investment Activity of European Insurers

    Zhabynets Olga Yo.


    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.

  11. Influencers of Life Insurance Investments: Empirical Evidence from Europe

    Aditi Mitra


    Full Text Available This study analyzes the impact of economic, demographic and cultural factors on life insurance consumption in 28 European countries. The period of study is post financial crisis from 2009-2014, and the study considers many of the emerging Eastern European economies where there have been significant insurance sector reforms recently. Europe is the world’s largest insurance market with 35% of the overall insurance premium contribution, but ranks third in insurance per capita, hence Europe is an interesting region in which to study insurance demand. The study observed four economic parameters: GDP per capita, gross savings, competitiveness of the nation, and inflation, as significant impacts on the insurance consumption in the region. Two demographic factors, population and education, and two cultural factors, individualism and long term orientation, appear to impact insurance consumption in the selected countries.

  12. Modeling Cycle Dependence in Credit Insurance

    Anisa Caja


    Full Text Available Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost continuously. The management actions it takes limit the consequences of a downturning cycle. However, the traditional modeling of economic capital does not take into account this important feature of credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking into account the insurer’s management actions. The model considers the capacity of the credit insurer to take on less risk in the case of a cycle downturn, but also the inverse, in the case of a cycle upturn; so, losses are predicted with a more dynamic perspective. According to our results, the economic capital is over-estimated when not considering the management actions of the insurer.

  13. Reforming insurance to support workers' rights to compensation.

    McCluskey, Martha T


    The structure and regulation of the insurance system for financing workers' compensation affects the costs of workers' benefits. Using the example of Maine's insurance market restructuring in response to a crisis of the early 1990s, this commentary explores how changes in insurance regulation might better support the goals of workers' compensation. The commentary analyzes how insurance and its regulation should go beyond correct pricing of risks to questions of how to structure incentives for loss control to include workers' interests as well as the interests of employers and insurers. Copyright © 2012 Wiley Periodicals, Inc.

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

    Wang Ying


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

  15. Insurance of nuclear power stations

    Debaets, M.


    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)

  16. The Dynamics of Market Insurance, Insurable Assets, and Wealth Accumulation

    Koeniger, Winfried


    We analyze dynamic interactions between market insurance, the stock of insurable assets and liquid wealth accumulation in a model with non-durable and durable consumption. The stock of the durable is exposed to risk against which households can insure. Since the model does not have a closed form solution we first provide an analytical approximation for the case in which households own abundant liquid wealth. It turns out that precautionary motives still matter because of fluctuations of the p...

  17. Constant Proportion Portfolio Insurance

    Jessen, Cathrine


    on the theme, originally proposed by Fischer Black. In CPPI, a financial institution guarantees a floor value for the “insured” portfolio and adjusts the stock/bond mix to produce a leveraged exposure to the risky assets, which depends on how far the portfolio value is above the floor. Plain-vanilla portfolio...... insurance largely died with the crash of 1987, but CPPI is still going strong. In the frictionless markets of finance theory, the issuer’s strategy to hedge its liability under the contract is clear, but in the real world with transactions costs and stochastic jump risk, the optimal strategy is less obvious...


    Gavriletea Marius


    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...

  19. The economics of health insurance.

    Jha, Saurabh; Baker, Tom


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

  20. 26 CFR 1.831-1 - Tax on insurance companies (other than life or mutual), mutual marine insurance companies, and...


    ... mutual), mutual marine insurance companies, and mutual fire insurance companies issuing perpetual... companies (other than life or mutual), mutual marine insurance companies, and mutual fire insurance... insurance companies and mutual fire insurance companies exclusively issuing either perpetual policies, or...

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

    Sane, Bhagyashree


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

  2. Insurance premiums and insurance coverage of near-poor children.

    Hadley, Jack; Reschovsky, James D; Cunningham, Peter; Kenney, Genevieve; Dubay, Lisa

    States increasingly are using premiums for near-poor children in their public insurance programs (Medicaid/SCHIP) to limit private insurance crowd-out and constrain program costs. Using national data from four rounds of the Community Tracking Study Household Surveys spanning the seven years from 1996 to 2003, this study estimates a multinomial logistic regression model examining how public and private insurance premiums affect insurance coverage outcomes (Medicaid/SCHIP coverage, private coverage, and no coverage). Higher public premiums are significantly associated with a lower probability of public coverage and higher probabilities of private coverage and uninsurance; higher private premiums are significantly related to a lower probability of private coverage and higher probabilities of public coverage and uninsurance. The results imply that uninsurance rates will rise if both public and private premiums increase, and suggest that states that impose or increase public insurance premiums for near-poor children will succeed in discouraging crowd-out of private insurance, but at the expense of higher rates of uninsurance. Sustained increases in private insurance premiums will continue to create enrollment pressures on state insurance programs for children.

  3. 78 FR 52780 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...


    ...] 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...

  4. 77 FR 36566 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...


    ...] 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...

  5. Health Insurance: Understanding Your Health Plan's Rules

    ... 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 ...

  6. HIAA's The Business of Insurance: An Introduction.

    Rosen, Anita; Lynch, Margaret E.

    This booklet is intended to help students gain a broad understanding of the meaning, characteristics, organization, products, and functions of the insurance industry. The following topics are discussed: the concept of and need for insurance; basic principles of insurance (risk assessment, insurability and insurable interest, determination of…

  7. Mitigation Index Insurance for Developing Countries: Insure the Loss or Insure the Signal?

    Li, Yiting; Miranda, Mario J.


    Conventional agricultural index insurance indemnifies based on the observed value of a specified variable, such as rainfall, that is correlated with agricultural production losses. Typically, indemnities are paid to the policyholder after the losses have been experienced. This paper explores alternate timing for index insurance payouts. In particular, we explore the potential benefits of what we call “mitigation index insurance” in which the payouts of the insurance contract arrive before los...

  8. 76 FR 77442 - Mutual Insurance Holding Company Treated as Insurance Company


    ... insurance industry traces its roots back to England, where, in 1696, the first mutual fire insurer was... FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 380 RIN 3064-AD89 Mutual Insurance Holding Company Treated as Insurance Company AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Notice...

  9. Performance measurement and insurance liabilities

    Plantinga, A; Huijgen, C


    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

  10. Your Insurance Dollar. Money Management.

    Baran, Nancy H., Ed.

    This booklet provides some practical guidelines for determining total insurance needs, examining options, and comparing costs. It discusses how to fit insurance costs into an overall financial plan, the necessity of adequate liability coverage, and the importance of keeping policies up to date. The next four sections highlight the basic types of…


    Skold, Melvin D.; Davis, Robert M.


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

  12. Business Cycle Dependent Unemployment Insurance

    Andersen, Torben M.; Svarer, Michael

    The consequences of business cycle contingencies in unemployment insurance systems are considered in a search-matching model allowing for shifts between "good" and "bad" states of nature. We show that not only is there an insurance argument for such contingencies, but there may also be an incentive...

  13. Market Discipline and Deposit Insurance

    Peresetsky, Anatoly


    The paper examines Russian banks’ household deposit interest rates for the transition period of setting up the deposit insurance system. Monthly observations of Russian banks’ interest rates and balance sheets are used in a fixed effects panel data model. It is shown market discipline has been significantly diminished after switching to the deposit insurance.

  14. 46 CFR Sec. 13 - Insurance.


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


    Marius Dan GAVRILETEA


    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.

  16. 7 CFR 3019.31 - Insurance coverage.


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

  17. 29 CFR 95.31 - Insurance coverage.


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

  18. 76 FR 7767 - Student Health Insurance Coverage


    ... Student Health Insurance Coverage AGENCY: Centers for Medicare & Medicaid Services (CMS), HHS. ACTION... health insurance coverage under the Public Health Service Act and the Affordable Care Act. The proposed rule would define ``student health insurance [[Page 7768

  19. Canadians' access to insurance for prescription medicines


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

  20. Insurance and nuclear power

    Whipple, C.


    The Price-Anderson Act is discussed, which establishes procedures for insuring nuclear facilities (including nuclear power plants). The act was enacted with the dual purpose of protecting the public and encouraging the development of a private nuclear energy industry. Criticisms that can generally be grouped into four categories regarding the Act are presented, the most controversial aspect being that should an accident occur, the aggregate liability of the reactor operator, the NRC, or any others who might be at fault is limited to $560 million. Lawsuits for amounts in excess of $560 million are prohibited. The 1975 renewal of the Price-Anderson Act does provide that damages in excess of the $560 million prompt Congress to review the particular incident and take action to protect the public from the consequences of a disaster of such magnitude

  1. Imperfect Tests and Natural Insurance Monopolies

    Emons, Winand


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

  2. Macroprudential Insurance Regulation: A Swiss Case Study

    Philippe Deprez


    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.

  3. Macroprudential Insurance Regulation: A Swiss Case Study

    Philippe Deprez; Mario V. Wüthrich


    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...

  4. An investigation into onshore captive insurance companies

    ME Le Roux


    Full Text Available Insurance provided by captive insurers is one of various forms of risk financing.  The nature and main types of captive insurance companies are discussed.  This is followed by the results of an empirical study that focused on South African onshore captive insurance companies.  The objectives in establishing and operating a captive insurer, the factors which determine the decision of the parent company to establish and operate a captive insurer and the future and usefulness of insurance provided by captive insurers are some of the aspects that are addressed.

  5. The insurance of climatic risks

    Pauthier, Alice


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

  6. Optimal social insurance with linear income taxation

    Bovenberg, Lans; Sørensen, Peter Birch


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

  7. Environmental pollution risk and insurance

    Fragnelli, Vito; Marina, Maria Erminia


    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...




    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.

  9. Buying greenhouse insurance

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


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

  10. Insurance billing and coding.

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


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

  11. 7 CFR 3560.105 - Insurance and taxes.


    ...) Windstorm Coverage. (ii) Earthquake Coverage. (iii) Sinkhole Insurance or Mine Subsidence Insurance. (3) For... the coverage amount. (v) Sinkhole Insurance or Mine Subsidence Insurance. The deductible for sinkhole.... (10) Deductible amounts (excluding flood, windstorm, earthquake and sinkhole insurance or mine...

  12. Environmental insurance: research information support

    Rykova Valentina V.


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

  13. FEMA Flood Insurance Studies Inventory

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

  14. Pricing of temperature index insurance

    Che Mohd Imran Che Taib


    Full Text Available The aim of this paper is to study pricing of weather insurance contracts based on temperature indices. Three different pricing methods are analysed: the classical burn approach, index modelling and temperature modelling. We take the data from Malaysia as our empirical case. Our results show that there is a significant difference between the burn and index pricing approaches on one hand, and the temperature modelling method on the other. The latter approach is pricing the insurance contract using a seasonal autoregressive time series model for daily temperature variations, and thus provides a precise probabilistic model for the fine structure of temperature evolution. We complement our pricing analysis by an investigation of the profit/loss distribution from the contract, in the perspective of both the insured and the insurer.

  15. HUD Insured Multifamily Properties (NGDA)

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

  16. Nuclear insurance problems in Spain

    Gomez del Campo, Julian.


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

  17. 78 FR 71476 - Health Insurance Providers Fee


    .... The final regulations clarify that these benefits constitute health insurance when they are offered by... insurance. Limited Scope Dental and Vision Benefits The proposed regulations defined health insurance to... revising the definition of health insurance to exclude limited scope dental and vision benefits (sometimes...

  18. Nuclear power plants and their insurances

    Schludi, H.N.


    From the commencement of building to the time of decommissioning of nuclear power plants, the insurances provide continuous coverage, i.e. for construction, nuclear liability, nuclear energy hazards insurance, fire insurance, machinery insurance. The respective financial security is quantified. (DG) [de




    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.

  20. 78 FR 12623 - Insurer Reporting Requirements


    ... NHTSA's regulation requiring motor vehicle insurers to submit information on the number of thefts and recoveries of insured vehicles and actions taken by the insurer to deter or reduce motor vehicle theft. NHTSA..., which requires insurers to submit information about the make, model, and year of all vehicle thefts, the...

  1. 24 CFR 266.612 - Insurance endorsement.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance endorsement. 266.612... Rights and Obligations Insurance Endorsement § 266.612 Insurance endorsement. (a) Initial endorsement. The Commissioner shall indicate his or her insurance of the mortgage by endorsing the original credit...

  2. 24 CFR 207.259 - Insurance benefits.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance benefits. 207.259 Section... Contract of Insurance § 207.259 Insurance benefits. (a) Method of payment. Upon either an assignment of the... of mortgage. If the mortgage is assigned to the Commissioner, the insurance benefits shall be paid in...

  3. 24 CFR 241.805 - Insurance premiums.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 241.805 Section... Without a HUD-Insured or HUD-Held Mortgage Premiums § 241.805 Insurance premiums. (a) First premium. The... insurance premium equal to one percent of the original face amount of the note. (b) Second premium. The...

  4. 34 CFR 682.505 - Insurance premium.


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

  5. 24 CFR 220.804 - Insurance premiums.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 220.804 Section... and Obligations-Projects Insured Project Improvement Loans § 220.804 Insurance premiums. (a) First premium. The lender, upon the initial endorsement of the loan for insurance, shall pay to the Commissioner...

  6. Portfolio Insurance Strategies by a Large Player

    Kalife, Aymeric


    Market liquidity risk refers to the degree to which large size transactions can be carried out in a timely fashion with minimal impact on prices. Emphasized by the G10 report in 1993 and the BIS report in 1997, it is one factor of destabilization in the financial markets, as illustrated recently by the Asian crisis, the failure of the hedge fund LTCM during the Russian crisis. So in order to assess welfare implications of portfolio insurance strategies, it would be to estimate the dynamic hed...

  7. Social insurance for health service.

    Roemer, M I


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

  8. Environmental pollution and liability insurance

    Boediker, T.


    By the declared will of the legislative bodies to give effect to the polluter pays principle on all levels those have to pay the costs of removing impairments of environmental media that are responsible for its occurence. Thus environmental pollution becomes a considerable financial risk for the polluter. Against this risk they try to protect themselves by the corresponding precautionary measures, e.g. by insurance. The insurance industry is consequently requested to meet this new demand. The legal bases are followed by the description of the insurance relationship under the aspect of the theory of risks, which follows, based on the basic model of decision theory, the objective of a quantitative representation of the situation of the decision. In the last chapter the author deals with the financial security for the risks of a third party liability insurance of environmental pollution as it is offered today in the Federal Republic of Germany. The elaboration of the existing financial security is then compared with the legal conditions of liability. In doing this the author describes cases not covered by financial security and its definition by comparison with findings of risk theory. As a result it becomes obvious that numerous exclusions of risks could quite good be included in the financial security and that the argument of the impossibility to insure often put forward by the insurers to justify the exclusion of risks can neither theoretically nor practically be uphold. (orig./HSCH) [de

  9. Role of nuclear insurance in US

    Bardes, C.R.


    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

  10. Transport Nuclear Liability Insurance

    Folens, M.


    Although transport of nuclear substances represents only a very small part of the global transport of dangerous goods, it takes place every day all over the world and it is part of our daily life. Transport of nuclear material takes also place at every stage of the nuclear fuel cycle; radioactive materials are carried out all over the world by all major modes of transport: sea, air, road and rail. Despite the large number of nuclear transports, they are not considered as posing a serious risk. A major nuclear incident is almost always associated with the operating of fixed installations such as nuclear power plants; just think about Three Mile Island and Chernobyl. This perception is strengthened by the absence so far of serious accidents in the nuclear transport sector and this finding is in fact proof of the very safe conditions of nuclear transport. But accidents can never be excluded entirely and in some cases damages could be as large as those caused by fixed installations. This means that protection of the interests of possible victims should also be covered in a correct way. That is why the special nuclear liability regime has also been developed to cover damage caused by a nuclear transport accident. As stated by Patrick Reyners, the prime motivation for originally adopting a special nuclear regime was the harmonisation of national legislation and that nowhere more than in the field of international transport operations is such harmonisation felt desirable . The international legal regime has been developed along two tracks, one based on the mode of transport and the other based on the notion of dangerous goods. The linkage between those two tracks is of permanent concern and the mode of transport is the key element to determine which international instrument should be applicable. The purpose of this paper is to briefly introduce the financial security provided by the insurance industry to cover the international nuclear liability regime for nuclear

  11. 76 FR 71276 - Common Crop Insurance Regulations; Pecan Revenue Crop Insurance Provisions


    ...-0008] RIN 0563-AC35 Common Crop Insurance Regulations; Pecan Revenue Crop Insurance Provisions AGENCY... Corporation (FCIC) proposes to amend the Common Crop Insurance Regulations, Pecan Revenue Crop Insurance... Regulations (7 CFR part 457) by revising Sec. 457.167 Pecan Revenue Crop Insurance Provisions, to be effective...

  12. 75 FR 15603 - Common Crop Insurance Regulations; Florida Avocado Crop Insurance Provisions


    ... to: (1) Theft; or (2) Inability to market the avocados for any reason other than actual physical... Crop Insurance Regulations; Florida Avocado Crop Insurance Provisions AGENCY: Federal Crop Insurance... Common Crop Insurance Regulations; Florida Avocado Crop Insurance Provisions to convert the Florida...

  13. 41 CFR 60-741.25 - Health insurance, life insurance and other benefit plans.


    ... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life insurance and other benefit plans. 60-741.25 Section 60-741.25 Public Contracts and Property Management... Health insurance, life insurance and other benefit plans. (a) An insurer, hospital, or medical service...

  14. 24 CFR 266.600 - Mortgage insurance premium: Insurance upon completion.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.600 Mortgage insurance premium: Insurance upon completion. (a) Initial premium. For projects insured upon completion, on...


    Rena, Ravinder


    The industrial revolution led to the birth of different types of insurance systems. Insurance business emerged and developed in Eritrea during the Italian period. The insurance industry in Eritrea has been huge profits from its inception in 1992. In spite of the consistent profits by the insurance, the Government privatised it recently due the policy and revenue requirements. An attempt is made in this paper to discuss the background of the insurance and it evolution and development. This pap...

  16. Suggestion of Islamic Insurance Company Model

    Abdullah Ibrahim Nazal


    This study is one of very few studies which have investigated Islamic Insurance Companies as solution. It explained its operations also comparing with Traditional Insurance Companies and theoretical Islamic insurance models. As result to this study Islamic Insurance companies are profit organization. It helps Islamic banks but it costs customer to face expect risk. Islamic Insurance companies have many ways to get profits and consider all customers installments grants. Its operation gap comes...


    Stroe Andreea


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

  18. Forecasting Fire Insurance Loss Ratio in Misr Insurance Company

    Tarek TAHA


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

  19. 77 FR 25349 - Mutual Insurance Holding Company Treated as Insurance Company


    ..., the first mutual fire insurer was established. The first American mutual insurance company, the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, was founded in 1752.\\3\\ \\3\\ The...

  20. 75 FR 30106 - Terrorism Risk Insurance Program; Recordkeeping Requirements for Insurers Compensated Under the...


    ... DEPARTMENT OF THE TREASURY Terrorism Risk Insurance Program; Recordkeeping Requirements for... Budget. The Terrorism Risk Insurance Program Office within the Department of the Treasury is soliciting... original and two copies) to: Terrorism Risk Insurance Program, Public Comment Record, Suite 2100...

  1. 75 FR 42766 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...


    ...] 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...

  2. 76 FR 45281 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...


    ...] 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...

  3. 78 FR 33690 - Common Crop Insurance Regulations; Pecan Crop Insurance Provisions; Correction


    ...-0008] RIN 0563-AC35 Common Crop Insurance Regulations; Pecan Crop Insurance Provisions; Correction... FR 13454-13460). The regulation pertains to the insurance of Pecans. DATES: Effective Date: June 5...: [[Page 33691

  4. Insurance Salespeople's Attitudes towards Collusion: The Case of Taiwan’s Car Insurance Industry

    Lu-Ming Tseng; Wen-Pin Su


    Insurance researchers believe that the increase in insurance fraud may be associated with the unethical decisions made by some insurance salespeople. However, to date, research that has empirically investigated the link between insurance salespeople and collusion is scant. Using the car insurance industry in Taiwan as an example, this paper explores the impact of the opportunity to obtain the fraudulent claim and that of the size of actual loss on car insurance salespeople's attitudes towards...

  5. Pet insurance--essential option?

    Stowe, J D


    As Hawn (2) says, "insurance is about risk and peace of mind." She reports that the American Humane Society supports pet insurance because companion animals are able to be treated for disease or accidents that are life-threatening where, otherwise, they would have been euthanized. For veterinarians, she suggests that pet insurance allows them to practice veterinary medicine "as if it were free." It is inevitable that pet insurance will grow as a recourse for veterinary fees. This may be a savior to some families whose budget is stretched to the limit at a critical moment in the health care of their cherished pet. We in the veterinary profession have an advantage over other professions. We have seen the good, the bad, and the ugly of insurance, as it applies to human health and dental care. If we work hand-in-hand with our own industries, collectively we may be able to develop a system that wins for everyone, with fees that allow practice to thrive and growth strategies that accommodate new treatment and diagnostic modalities, as well as consistent and exemplary customer service. The path ahead is always fraught with bumps and potholes. We can be a passive passenger and become a victim of the times or an active driver to steer the profession to a clearer route. Pet insurance is but one of the solutions for the profession; the others are a careful assessment of our fees--charging what we are worth, not what we think the client will pay; business management; customer service; leadership of our health care team; lifelong learning; and more efficient delivery systems. Let us stop being a victim, stop shooting ourselves in the professional foot, and seize the day!

  6. Retroactive insurance may fund TMI-2 cleanup



    A Pennsylvania task force recommended that nuclear utilities insure their plants with a mandatory national property insurance program. The proposed Nuclear Powerplant Property Damage Insurance Act of 1981 will cover the cleanup costs of onsite damage in excess of $350 million for a single accident ($50 million when private insurance is added on) and a ceiling of two billion dollars. Participation in the insurance pool would be in conjunction with licensing and would permit no grandfathering. Total payout for Three Mile Island-2 would cover 75% of the cleanup costs, the remainder to be apportioned among other parties. The insurance pool will have a $750 million goal supported by utility premiums

  7. Unemployment duration and unemployment insurance

    Røed, Knut; Jensen, Peter; Thoursie, Anna


    Based on pooled register data from Norway and Sweden, we find that differences in unemployment duration patterns reflect dissimilarities in unemployment insurance (UI) systems in a way that convincingly establishes the link between economic incentives and job search behaviour. Specifically, UI...... benefits are relatively more generous for low-income workers in Sweden than in Norway, leading to relatively longer unemployment spells for low-income workers in Sweden. Based on the between-countries variation in replacement ratios, we find that the elasticity of the outflow rate from insured unemployment...

  8. Pricing general insurance with constraints

    Emms, P.


    Deterministic control theory is used to find the optimal premium strategy for an insurer in order to maximise a given objective. The optimal strategy can be loss-leading depending on the model parameters, which may result in negative premium values. In such circumstances, it is optimal to capture as much of the market as possible before making a profit towards the end of the time horizon. In reality, the amount by which an insurer can lower premiums is constrained by borrowing restrictions an...

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

    Salim, Anas Mustafa Ahmed; Hamed, Fatima Hashim Mahmoud


    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


    It is understood that construction projects usually have in force several simultaneous contractual ... business witlloct suficient cover of insurance. The aim of this paper is, therefore, to discuss the needs and .... D: Risks associated with the Technical aspects of the project. E: Risks associated with Acts of Man. F: Design risks.

  11. Monopoly Insurance and Endogenous Information

    Lagerlöf, Johan N. M.; Schottmüller, Christoph


    We study a monopoly insurance model with endogenous information acquisi- tion. Through a continuous effort choice, consumers can determine the precision of a privately observed signal that is informative about their accident risk. The equilibrium effort is, depending on parameter values, either...

  12. Recalls and unemployment insurance taxes

    Jurajda, Štěpán


    Roč. 11, č. 10 (2004), s. 651-656 ISSN 1350-4851 Institutional research plan: CEZ:AV0Z7085904 Keywords : recalls * unemployment insurance taxes Subject RIV: AH - Economics Impact factor: 0.135, year: 2004


    of good practice to be used as a design aid by engineers. ..... an ethical and professipnal atmosphere. It is also essential for the local ..... If your answer is no, please write the reason/sf or not purchasing insurance policies? 10. What types of ...

  14. Insurance and the nuclear energy

    Costa, M.P.R. da.


    The insurance is presented as a way to offer the guarantees to the reparing of the nuclear energy damages, enphasizing the adoption of the associations and pools system in Brazil, since the coverings envolved are very high. (A.L.) [pt

  15. Supply contract and portfolio insurance

    Runsheng Yin; Bob Izlar


    The long-term growth of institutional timberland investments depends on the ability of timberland investment management organizations (TIMO) to deal effectively with securitization, leveraging, arbitraging, supply contracting, portfolio insurance, tax efficiency enhancement, and other issues. Financial engineering holds great promise for many of these issues. This...

  16. The Nuclear Insurance Pools: Operations and Covers

    Tetley, M.


    Nuclear insurance pools have provided insurance for the nuclear industry for over fifty years and it is fair to say that the development of civil nuclear power would not have been possible without the support of the commercial insurance market. The unknown risks presented by the nascent nuclear power industry in the 1950s required a leap of faith by insurers who developed specialist pooled insurance capacity to ensure adequate capacity to back up the operators' compensation obligations. Since then, nuclear insurance pools have evolved to become comprehensive suppliers of most types of insurance for nuclear plant globally. This paper will outline the structure, development, products and current operations of nuclear insurance pools.(author)

  17. Health Insurance Marketplace Public Use Files

    U.S. Department of Health & Human Services — A set of seven (7) public use files containing information on health insurance issuers participating in the Health Insurance Marketplace and certified qualified...

  18. Situational Context of Insurance in Globalization

    S V Martynenko


    This article shows how globalization resolves problems, which are motivated in a new way by modern situational context of social-insurance, how the 'insurance cocoon' of civilization leads to narrowing of conflict space in the world politics.

  19. Insurance Finder Tool

    U.S. Department of Health & Human Services — This tool will help you find the health insurance best suited to your needs, whether its private insurance for individuals, families, and small businesses, or public...

  20. Modelling in life insurance a management perspective

    Norberg, Ragnar; Planchet, Frédéric


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

  1. 22 CFR 518.31 - Insurance coverage.


    ... property owned by the recipient. Federally-owned property need not be insured unless required by the terms... Requirements Property Standards § 518.31 Insurance coverage. Recipients shall, at a minimum, provide the...

  2. 34 CFR 74.31 - Insurance coverage.


    ... by the recipient. Federally-owned property need not be insured unless required by the terms and... Property Standards § 74.31 Insurance coverage. Recipients shall, at a minimum, provide the equivalent...

  3. 49 CFR 19.31 - Insurance coverage.


    ... property owned by the recipient. Federally-owned property need not be insured unless required by the terms... Requirements Property Standards § 19.31 Insurance coverage. Recipients shall, at a minimum, provide the...

  4. 10 CFR 600.131 - Insurance coverage.


    ... provided to property owned by the recipient. Federally-owned property need not be insured unless required... Nonprofit Organizations Post-Award Requirements § 600.131 Insurance coverage. Recipients shall, at a minimum...

  5. 20 CFR 435.31 - Insurance coverage.


    ... funds as provided to property owned by the recipient. Federally-owned property need not be insured... ORGANIZATIONS Post-Award Requirements Property Standards § 435.31 Insurance coverage. Recipients must, at a...

  6. Pre-Existing Condition Insurance Plan Data

    U.S. Department of Health & Human Services — The Affordable Care Act created the new Pre-Existing Condition Insurance Plan (PCIP) program to make health insurance available to Americans denied coverage by...

  7. Evaluating the Welfare of Index Insurance

    Harrison, Glenn W.; Martínez-Correa, Jimmy; Ng, Jia Min

    affects both the demand for the product and the welfare of individuals making take-up decisions. We study the impact of basis risk on insurance take-up and on expected welfare in a laboratory experiment with an insurance frame. We measure the expected welfare of index insurance to individuals while......Index insurance was conceived to be a product that would simplify the claim settlement process and make it more objective, reducing transaction costs and moral hazard. However, index insurance also exposes the insured to basis risk, which arises because there can be a mismatch between the index...... risks that are different from preferences exhibited for their actuarially-equivalent counterparts. We study the potential link between index insurance demand and attitudes towards compound risks. We test the hypothesis that the compound risk nature of index insurance induced by basis risk negatively...

  8. The Normative Foundations of (Social) Insurance

    Landes, Xavier

    Insurance mechanisms are prevalent in industrialized societies, in both public and private sectors. Insurance is offered for various risks ranging from fire to accident. They also constitute the core of the modern welfare state (public health insurance, unemployment benefits and public pensions......). The analysis of (public) insurance has however remained marginal in political theory because insurance is often perceived as a simple tool for pursuing equality, i.e. a tool without any moral significance proper. This text proposes an alternative view by drawing a continuum between insurance as a technology......, which is the common interpretation in economics, and insurance as a social practice, which characterizes social theory. The goal is to underline how the technology of insurance alters social practices by, for instance, promoting equal standing or transforming the paradigm of individual responsibility...

  9. The Complexity of E-Insurance



    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

  10. Occupational injury insurance - A strategy for prevention?

    Jacobsen, Thomas


    Can compulsory occupational injury insurance be used as a strategy for prevention in the work place? This is discussed on the basis of two different insurance systems - the Danish and the French.......Can compulsory occupational injury insurance be used as a strategy for prevention in the work place? This is discussed on the basis of two different insurance systems - the Danish and the French....

  11. Medical Progress and Supplementary Private Health Insurance

    Reiner Leidl


    In many welfare states, tightening financial constraints suggest excluding some medical services, including new ones, from social security coverage. This may create opportunities for private health insurance. This study analyses the performance of supplementary private health insurance (SPHI) in markets for excluded services in terms of population covered, risk selection and insurer profits. Using a utility-based simulation model, the insurance market is described as a composite of sub-market...

  12. Financial Planning and the Life Insurance Agency

    Robert Puelz


    In this article, the effects of fee-for-service personal financial planning on the decision making of a profit-maximizing life insurance general agent are examined. Three refutable propositions are developed which implicate the movements of the general agent who must adjust to a new optimal profit-maximizing allocation of financial planning, personal insurance sales, and agent insurance sales when there is a change in one of the fee or commission rate parameters. It is demonstrated that insur...

  13. 76 FR 20298 - Insurer Reporting Requirements; List of Insurers; Required To File Reports


    ... vehicle insurers that are required to file reports on their motor vehicle theft loss experiences. An... the agency. Each insurer's report includes information about thefts and recoveries of motor vehicles... more vehicles not covered by theft insurance policies issued by insurers of motor vehicles, other than...

  14. 76 FR 41138 - Insurer Reporting Requirements; List of Insurers Required To File Reports


    ... 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...

  15. 75 FR 34966 - Insurer Reporting Requirements; List of Insurers Required To File Reports


    ... vehicle insurers that are required to file reports on their motor vehicle theft loss experiences. An... the agency. Each insurer's report includes information about thefts and recoveries of motor vehicles... vehicles not covered by theft insurance policies issued by insurers of motor vehicles, other than any...

  16. 41 CFR 60-300.25 - Health insurance, life insurance and other benefit plans.


    ... 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...

  17. 41 CFR 60-250.25 - Health insurance, life insurance and other benefit plans.


    ... 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...

  18. Specific aspects of insurance of nuclear risks

    Angelici, C.


    The following questions are discussed in connection with the insurance of nuclear risks: insurance techniques, the nuclear operator's limitation of liability in amount and in time, its channelling, the principle of sole liability and exonerations, the insurers' position, the cover provided and state intervention beyond that amount. (NEA) [fr

  19. 20 CFR 617.58 - Unemployment insurance.


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

  20. 48 CFR 47.102 - Transportation insurance.


    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Transportation insurance... MANAGEMENT TRANSPORTATION General 47.102 Transportation insurance. (a) The Government generally (1) retains... assumed responsibility. The cost of this insurance to the carrier shall be part of the transportation cost...

  1. Global loss diversification in the insurance sector

    Sheremet, O.; Lucas, A.


    We study the possibility for international diversification of catastrophe risk by the insurance sector. Adopting the argument that large insurance losses may be a 'globalizing factor' for the industry, we study the dependence of geographically distant insurance markets via equity returns. In

  2. Insurance considerations associated with radiation processing

    Boylan, F.X.


    Comments are made on nuclear insurance experience in the United States. The subject is discussed in more detail under the headings: direct physical damage insurance; workers' compensation insurance; third party liability (premises and operations considerations; products considerations); possible alternatives to the existing arrangement. (U.K.)

  3. 7 CFR 1427.166 - Insurance.


    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Insurance. 1427.166 Section 1427.166 Agriculture... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS COTTON Recourse Seed Cotton Loans § 1427.166 Insurance. The seed cotton must be insured at the full loan value against loss or damage by fire. ...

  4. Statistical tools for non-life insurance

    Antonio, K.


    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

  5. Consumer price sensitivity in Dutch health insurance

    M. van Dijk (Machiel); M. Pomp (Marc); R.C.H.M. Douven (Rudy); T. Laske-Aldershof (Trea); F.T. Schut (Erik); W. de Boer (Willem); A. Boo (Anne)


    textabstractAim: To estimate the price sensitivity of consumer choice of health insurance firm. Method: Using paneldata of the flows of insured betweenpairs of Dutch sickness funds during the period 1993-2002, we estimate the sensitivity of these flows to differences in insurance premium. Results:

  6. 2 CFR 215.31 - Insurance coverage.


    ... Insurance coverage. Recipients shall, at a minimum, provide the equivalent insurance coverage for real property and equipment acquired with Federal funds as provided to property owned by the recipient. Federally-owned property need not be insured unless required by the terms and conditions of the award. ...

  7. 36 CFR 1210.31 - Insurance coverage.


    ....31 Insurance coverage. Recipients shall, at a minimum, provide the equivalent insurance coverage for real property and equipment acquired with NHPRC funds as provided to property owned by the recipient. Federally-owned property need not be insured unless required by the terms and conditions of the award. ...

  8. 24 CFR 200.100 - Insurance endorsement.


    ... a commitment for insured advances, initial endorsement of the credit instrument shall occur before... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance endorsement. 200.100... Endorsement Generally Applicable to Multifamily and Health Care Facility Mortgage Insurance Programs; and...

  9. 24 CFR 241.1245 - Insurance endorsement.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance endorsement. 241.1245... Rights and Obligations § 241.1245 Insurance endorsement. (a) Endorsement. The Commissioner shall indicate his insurance of the equity loan or acquisition loan by endorsing the original credit instrument and...

  10. 24 CFR 241.570 - Insurance endorsement.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance endorsement. 241.570... § 241.570 Insurance endorsement. (a) Initial endorsement. The Commissioner shall indicate his/her insurance of the mortgage by endorsing the original credit instrument and identifying the section of the Act...

  11. Private health insurance: implications for developing countries.

    Sekhri, Neelam; Savedoff, William


    Private health insurance is playing an increasing role in both high- and low-income countries, yet is poorly understood by researchers and policy-makers. This paper shows that the distinction between private and public health insurance is often exaggerated since well regulated private insurance markets share many features with public insurance systems. It notes that private health insurance preceded many modern social insurance systems in western Europe, allowing these countries to develop the mechanisms, institutions and capacities that subsequently made it possible to provide universal access to health care. We also review international experiences with private insurance, demonstrating that its role is not restricted to any particular region or level of national income. The seven countries that finance more than 20% of their health care via private health insurance are Brazil, Chile, Namibia, South Africa, the United States, Uruguay and Zimbabwe. In each case, private health insurance provides primary financial protection for workers and their families while public health-care funds are targeted to programmes covering poor and vulnerable populations. We make recommendations for policy in developing countries, arguing that private health insurance cannot be ignored. Instead, it can be harnessed to serve the public interest if governments implement effective regulations and focus public funds on programmes for those who are poor and vulnerable. It can also be used as a transitional form of health insurance to develop experience with insurance institutions while the public sector increases its own capacity to manage and finance health-care coverage.

  12. Entrepreneurial Moral Hazard in Income Insurance

    Ejrnaes, Mette; Hochguertel, Stefan


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

  13. 24 CFR 241.885 - Insurance benefits.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance benefits. 241.885 Section... § 241.885 Insurance benefits. (a) Method of payment. Payment of claims shall be made in the following... acceptable assignment of the note and security instrument to the Commissioner, the insurance benefits shall...

  14. 78 FR 14034 - Health Insurance Providers Fee


    ... Health Insurance Providers Fee AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of... insurance for United States health risks. This fee is imposed by section 9010 of the Patient Protection and... insurance for United States health risks. DATES: Written or electronic comments must be received by June 3...

  15. Health Insurance and Children with Disabilities

    Szilagyi, Peter G.


    Few people would disagree that children with disabilities need adequate health insurance. But what kind of health insurance coverage would be optimal for these children? Peter Szilagyi surveys the current state of insurance coverage for children with special health care needs and examines critical aspects of coverage with an eye to helping policy…

  16. 3 CFR - State Children's Health Insurance Program


    ... 3 The President 1 2010-01-01 2010-01-01 false State Children's Health Insurance Program... Insurance Program Memorandum for the Secretary of Health and Human Services The State Children's Health Insurance Program (SCHIP) encourages States to provide health coverage for uninsured children in families...

  17. Stochastic Cooperative Games in Insurance and Reinsurance

    Suijs, J.P.M.; De Waegenaere, A.M.B.; Borm, P.E.M.


    This paper shows how problems in `non life'-insurance and `non life'-reinsurance can be modelled simultaneously as cooperative games with stochastic payoffs.Pareto optimal allocations of the risks faced by the insurers and the insureds are determined.It is shown that the core of the corresponding

  18. 17 CFR 256.924 - Property insurance.


    ... 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. ...

  19. How to Shop for Health Insurance

    ... health insurance kicks in. As a general rule, insurance plans with low premiums have high deductibles, and plans with high premiums ... other plans due to hardship. This type of insurance can have low premiums but very high deductibles. Plans generally cover less ...

  20. 24 CFR 203.443 - Insurance premium.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premium. 203.443 Section... premium. All of the provisions of §§ 203.260 through 203.269 1 concerning mortgage insurance premiums... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE...

  1. 24 CFR 232.805 - Insurance premiums.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 232.805 Section... FACILITIES Contract Rights and Obligations Premiums § 232.805 Insurance premiums. (a) First premium. The... insurance premium equal to one percent of the original face amount of the note. (b) Second premium. The...

  2. On a Stochastic Model in Insurance

    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.

  3. Transparency, trust and security: An evaluation of the insurer's ...

    Transparency in insurance law attaches to the rights and duties of the parties, the ... protection principles as envisaged by South African insurance legislation. ... an insurance contract, the insurer's duty to speak is not based on a general ...


    Serdechna Yulia


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


    Abass, OlufemiAdebowale


    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.

  6. Health Insurance for Cancer Care in Asia: Thailand

    Pongpak Pittayapan


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

  7. Do self-insurance and disability insurance prevent consumption loss on disability?

    Steffan G. Ball; Hamish W. Low


    In this paper we show the extent to which public insurance and self-insurance mitigate the cost of health shocks that limit the ability to work. We use consumption data from the UK to estimate the insurance provided by the government disability programme and account for the effectiveness of alternative self-insurance mechanisms. Individuals with a work-limiting health condition, but in receipt of disability insurance, have 7 percent lower consumption than those without such a condition. Self-...


    Nataliya Prikazyuk; Ganna Oliynik


    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,...

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

    Rohendi, Keukeu; Putra, Ilham Eka


    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...


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


    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...

  11. Consumer choice of social health insurance in managed competition

    Kerssens, Jan J.; Groenewegen, Peter P.


    Objective To promote managed competition in Dutch health insurance, the insured are now able to change heaith insurers. They can choose a health insurer with a low flat-rate premium, the best supplementary insurance and/or the best service. As we do not know why people prefer one health insurer to

  12. Life Insurance Basics: A Self-Help Workbook for Consumers.

    Saskatchewan Consumer and Commercial Affairs, Regina.

    This booklet provides consumers with an overview of information about life insurance. Chapter 1, "Why Life Insurance?" outlines the primary purposes of life insurance coverage and presents basic facts about the Canadian life insurance industry. Chapter 2, "Do I Need Life Insurance?" discusses life insurance coverage at specific…

  13. Consumer choice of social health insurance in managed competition.

    Kerssens, J.J.; Groenewegen, P.P.


    Objective: To promote managed competition in Dutch health insurance, the insured are now able to change health insurers. They can choose a health insurer with a low flat-rate premium, the best supplementary insurance and/or the best service. As we do not know why people prefer one health insurer to

  14. Risk transfer solutions for the insurance industry

    Njegomir Vladimir


    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.

  15. The Role of Nuclear Insurance Pools

    Reitsma, S. M. S.


    Since fifty years insurers respond to the need of both governments and the electricity industry to provide financial protection to cover the perils presented by the use of nuclear energy for peaceful purposes. This paper aims at explaining what difficulties had to be solved in order to enable insurers to provide such protection, that as a solution to these difficulties Nuclear Insurance Pools were formed, how such pools operate and what security they provide. Thereby not only a number of universal principles underlying nuclear pool insurance will be explained, but also some differences in the characteristics of such insurance per group of countries. (author)




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

  17. Risk assessment and nuclear insurance: an overview

    Deitchman, J.V.; King, W.T. Jr.; Olding, R.P.


    In the nascent years of commercial nuclear power, the insurance industry expressed confidence in the safety of nuclear operations by committing unprecedented insurance capacity to nuclear risks. As the nuclear industry has developed, it has compiled an enviable safety record. The initial confidence of the insurance industry has thus been justified and an ever-increasing portion of the financial liability associated with nuclear operations has been accepted by the world-wide insurance markets. This increasing acceptance and understanding of nuclear risks by the insurance industry has resulted in significantly reduced rates and large premium refunds for nuclear operators

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

    Trish, Erin E; Herring, Bradley J


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

  19. Implementing Automotive Telematics for Fleet Insurance

    Marika Azzopardi


    Full Text Available The advantages of Usage-Based Insurance for automotive covers over conventional rating methods have been discussed in literature for over four decades. Notwithstanding their adoption in insurance markets has been slow. This paper seeks to establish the viability of introducing fleet Telematics-Based Insurance by investigating the perceptions of insurance operators, tracking service providers and corporate fleet owners. At its core, the study involves a SWOT-analysis to appraise Telematics-Based Insurance against conventional premium rating systems. Twenty five key stakeholders in Malta, a country with an insurance industry that represents others in microcosm, were interviewed to develop our analysis. We assert that local insurers have interests in such insurance schemes as enhanced fleet management and monitoring translate into an improved insurance risk. The findings presented here have implications for all stakeholders as we argue that telematics enhance fleet management, TBI improves risk management for insurers and adoption of this technology is dependent on telematics providers increasing the perceived control by insurers over managing this technology.

  20. Considerations on Albanian Life Insurance Market

    Gentiana Sharku


    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.

  1. Dental insurance: A systematic review.

    Garla, Bharath Kumar; Satish, G; Divya, K T


    To review uses of finance in dentistry. A search of 25 electronic databases and World Wide Web was conducted. Relevant journals were hand searched and further information was requested from authors. Inclusion criteria were a predefined hierarchy of evidence and objectives. Study validity was assessed with checklists. Two reviewers independently screened sources, extracted data, and assessed validity. Insurance has come of ages and has become the mainstay of payment in many developed countries. So much so that all the alternative forms of payment which originated as an alternative to fee for service now depend on insurance at one point or the other. Fee for service is still the major form of payment in many developing countries including India. It is preferred in many instances since the payment is made immediately.

  2. Cyber Insurance - Managing Cyber Risk


    disaster response plans, how employees and others access data systems, and at a minimum, the antivirus and anti- malware software used by the business, the...a policy for insuring data stored in the cloud.[5] Typically, businesses that install or ser- vice software or networks or provide IT consulting, and privacy. Errors and omissions covers claims related to performance of services such as software development or consulting services

  3. Explicit Versus Implicit Income Insurance

    Thomas J. Kniesner; James P. Z‎iliak


    October 2001 (Revised from July 2001). Abstract: By supplementing income explicitly through payments or implicitly through taxes collected, income-based taxes and transfers make disposable income less variable. Because disposable income determines consumption, policies that smooth disposable income also create welfare improving consumption insurance. With data from the Panel Study of Income Dynamics we find that annual consumption variation is reduced by almost 20 percent due to explicit and ...

  4. Portfolio insurance using traded options

    Machado-Santos, Carlos


    Literature concerning the institutional use of options indicates that the main purpose of option trading is to provide investors with the opportunity to create return distributions previously unavailable, considering that options provide the means to manipulate portfolio returns. In such a context, this study intends to analyse the returns of insured portfolios generated by hedging strategies on underlying stock portfolios. Because dynamic hedging is too expensive, we have hedged the stock po...

  5. Car insurance information management system

    Sun, Yu


    A customer information system is a typical information management system. It involves three aspects, the backstage database establishment, the application development and the system maintenance. A car insurance information management system is based on browser/server structure. Microsoft SQL Server establishes the backstage database. Active Server Pages, from Microsoft as well is used as the interface layer. The objective of this thesis was to apply ASP to the dynamic storage of a web page...

  6. Pensions as Retirement Income Insurance.

    Bodie, Zvi


    This paper develops the view that employer-sponsored pension plans are best understood as retirement income insurance for employees and from that perspective addresses a number of questions regarding the reasons for their existence, their design, and their funding and investment policies. The most important of these questions are: - Why do employers provide pension plans for their employees and why is participation usually mandatory? - Why is the defined benefit form of pension plan the domin...

  7. 77 FR 22691 - Fees on Health Insurance Policies and Self-Insured Plans for the Patient-Centered Outcomes...


    ... 1545-BK59 Fees on Health Insurance Policies and Self-Insured Plans for the Patient-Centered Outcomes... certain health insurance policies and plan sponsors of certain self-insured health plans to fund the... health insurance policies) or R. Lisa Mojiri-Azad at (202) 622-6080 (regarding self- insured health...

  8. Life insurance theory actuarial perspectives

    Vylder, F Etienne


    This book is different from all other books on Life Insurance by at least one of the following characteristics 1-4. 1. The treatment of life insurances at three different levels: time-capital, present value and price level. We call time-capital any distribution of a capital over time: (*) is the time-capital with amounts Cl, ~, ... , C at moments Tl, T , ..• , T resp. N 2 N For instance, let (x) be a life at instant 0 with future lifetime X. Then the whole oO oO life insurance A is the time-capital (I,X). The whole life annuity ä is the x x time-capital (1,0) + (1,1) + (1,2) + ... + (I,'X), where 'X is the integer part ofX. The present value at 0 of time-capital (*) is the random variable T1 T TN Cl V + ~ v , + ... + CNV . (**) In particular, the present value ofA 00 and ä 00 is x x 0 0 2 A = ~ and ä = 1 + v + v + ... + v'X resp. x x The price (or premium) of a time-capital is the expectation of its present value. In particular, the price ofA 00 and äx 00 is x 2 A = E(~) and ä = E(I + v + v + ... + v'X...


    Luka Stanić


    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.

  10. Pricing behaviour of nonprofit insurers in a weakly competitive social health insurance market.

    Douven, Rudy C H M; Schut, Frederik T


    In this paper we examine the pricing behaviour of nonprofit health insurers in the Dutch social health insurance market. Since for-profit insurers were not allowed in this market, potential spillover effects from the presence of for-profit insurers on the behaviour of nonprofit insurers were absent. Using a panel data set for all health insurers operating in the Dutch social health insurance market over the period 1996-2004, we estimate a premium model to determine which factors explain the price setting behaviour of nonprofit health insurers. We find that financial stability rather than profit maximisation offers the best explanation for health plan pricing behaviour. In the presence of weak price competition, health insurers did not set premiums to maximize profits. Nevertheless, our findings suggest that regulations on financial reserves are needed to restrict premiums. Copyright © 2011 Elsevier B.V. All rights reserved.


    Cătălina BOLOVAN


    Full Text Available Before the emergence of the crisis, banks’ incomes were preponderantly oriented towards the lending activity, which activity is unsustainable in these circumstances. With the financial crisis, banks have diversified revenues and identified the benefits of sustainable partnerships with insurance institutions (the bancassurance, achieving convergence towards common platforms. The driving factor of the bancassurance system must also be sought in the common need of banks and insurance companies to optimize the structure and efficiency of the distribution channels. Thus, if credit institutions seek to obtain additional revenue by capitalizing the potential of regional networks, initially configured based on own marketing policies, insurance companies are interested in diversifying without significant capital investment, the traditional distribution methods, so that the products and services offered have access to a large number of potential customers

  12. Risk segmentation in Chilean social health insurance.

    Hidalgo, Hector; Chipulu, Maxwell; Ojiako, Udechukwu


    The objective of this study is to identify how risk and social variables are likely to be impacted by an increase in private sector participation in health insurance provision. The study focuses on the Chilean health insurance industry, traditionally dominated by the public sector. Predictive risk modelling is conducted using a database containing over 250,000 health insurance policy records provided by the Superintendence of Health of Chile. Although perceived with suspicion in some circles, risk segmentation serves as a rational approach to risk management from a resource perspective. The variables that have considerable impact on insurance claims include the number of dependents, gender, wages and the duration a claimant has been a customer. As shown in the case study, to ensure that social benefits are realised, increased private sector participation in health insurance must be augmented by regulatory oversight and vigilance. As it is clear that a "community-rated" health insurance provision philosophy impacts on insurance firm's ability to charge "market" prices for insurance provision, the authors explore whether risk segmentation is a feasible means of predicting insurance claim behaviour in Chile's private health insurance industry.

  13. Nuclear liability insurance in the United States: an insurer's perspective

    Quattrocchi, J.


    By the mid-1950's the United States recognised that it was in the interest to promote commercial development of nuclear energy. But the uncertainties of the technology and the potential for severe accidents were clear obstacles to commercial development. Exposure to potentially serious uninsured liability inhibited the private sector. These impediments led Congress to enact the Price-Anderson Act in 1957. The Act had several purposes: the first was to encourage private development of nuclear power; the second was to establish a legal framework for handling potential liability claims; and the third was to provide a ready source of funds to compensate injured victims of a nuclear accident. Insurers chose the pooling technique by creating in the US the American Nuclear Insurers. ANI acts as a managing agent for its members insurance companies. The accident of three Miles Island occurred on 28 March 1979 and with came the claims experience in US. The 1988 amendments to the Price-Anderson Act directed the President to establish a Commission for the purpose of developing a means to assure full compensation of victims of a catastrophic nuclear accident that exceeds the limitation on aggregate public liability, or currently just over US$ 9.7 billion. The Presidential Commission issued its report in August 1990, in which it reached a number of conclusions and offered a number of recommendations.The US Congress has not acted on the Commission's report, but may revisit its recommendations as debate begins this year (1999) or next on the renewal of the Price-Anderson Act. (N.C.)


    Division HR


    A new document which groups together the general principles, the contributions, benefits, reimbursement procedures and other information making up the Rules of the CERN Health Insurance Scheme has been established. It was approved by the Director-General on 7th July 2000 and is being distributed to all contributing members of the Scheme. It has been dispatched by internal mail to members of the personnel and by postal mail to pensioners. These Rules will enter into force on 1st September 2000. Please make sure that you have received your copy. Should this not be the case, an additional copy may be obtained by telephoning 78003

  15. Health Insurance Rules of the CERN Health Insurance scheme

    Division HR


    A new document which groups together the general principles, the contributions, benefits, reimbursement procedures and other information making up the Rules of the CERN Health Insurance Scheme has been established. It was approved by the Director-General on 7th July 2000 and is being distributed to all contributing members of the Scheme. It has been dispatched by internal mail to members of the personnel and by postal mail to pensioners. These Rules will enter into force on 1st September 2000. Please make sure that you have received your copy. Should this not be the case, an additional copy may be obtained by telephoning 78003.

  16. Liability and Insurance for Suborbital Flights

    Masson-Zwaan, T.


    This paper analyzes and compares liability and liability insurance in the fields of aviation and spaceflight in order to propose solutions for a liability regime and insurance options for suborbital flights. Suborbital flights can be said to take place in the grey zone between air and space, between air law and space law, as well as between aviation insurance and space insurance. In terms of liability, the paper discusses air law and space law provisions in the fields of second and third party liability for damage to passengers and 'innocent bystanders' respectively, touching upon international treaties, national law and EU law, and on insurance to cover those risks. Although the insurance market is currently not ready to provide tailor-made products for operators of suborbital flights, it is expected to adapt rapidly once such flights will become reality. A hybrid approach will provide the best solution in the medium term.

  17. Nuclear Insurance Pools: Worldwide Practice and Development

    Reitsma, S. M. S.


    The development of nuclear installations to produce electricity led to the establishment of Nuclear Insurance Pools and the introduction of international Conventions on Third Party Liability. Nuclear Pools offer both Third Party Liability insurance, reflecting the Conventions' principles, and other insurance products. They are market-wide, providing a facility for participation by insurers who could not otherwise write the insurance for the particularly sensitive nuclear risk. All acceptances are for the net retention of each Member without recourse to individual reinsurance protection. Common account reinsurance is arranged with other Nuclear Pools all over the world. Thus, a transparency is created, which ensures the highest degree of reinsurance security and imposes a known finite limit to each participating insurer's commitment. Therefore, Pool-members are prepared to make a greater commitment to nuclear risks than would be case where they felt uncertain as regards their total exposure following a significant loss. (author)

  18. Health insurance--a challenge in India.

    Presswala, R G


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

  19. Private health insurance and access to healthcare.

    Duggal, Ravi


    The health insurance business in India has seen a growth of over 25% per annum in the last few years with the expansion of the private health insurance sector. The premium incomes of health insurance have crossed the Rs 8,000 crore mark with the share of private companies increasing to over 41%. This is despite the fact that from the perspective of patients, health insurance is not a good deal, especially when they need it most. This raises a number of ethical issues regarding how the health insurance business runs and how medical practice adjusts to it for profiteering. This article uses the personal experience of the author to argue that health insurance in an unregulated environment can only lead to unethical practices, further victimising the patient. Further, publicly financed healthcare which operates in an environment regulating both public and private healthcare provisioning is the only way to assure access to ethical and equitable healthcare to people.

  20. Risk Management and Insurance Decisions under Ambiguity

    Martínez-Correa, Jimmy

    I study the impact of ambiguity on insurance decisions and the optimality of insurance contracts. My tractable approach allows me to study the interaction between risk and ambiguity attitudes. When insurance decisions are made independently of other assets, for a given increase in wealth, both risk...... portfolio theory that assumes Subjective Expected Utility theory; however, it provides hints to a possible solution of the under-diversification puzzle of households. I also identify conditions under which more risk or ambiguity aversion decreases the demand for coinsurance. Additionally, I show...... a counterexample to a classical result in insurance economics where an insurance contract with straight deductible is dominated by a coinsurance contract. Finally, I find that a modified Borch rule characterizes the optimal insurance contract with bilateral risk and ambiguity attitudes and heterogeneity in beliefs....

  1. Insurance for replacement power costs

    Cleaver, A.


    Although careful consideration is given to insurance against physical damage to plant and equipment, little thought is given to the costs that will be incurred in replacing the power that is lost while a relatively efficient system is out of action. The results of an investigation carried out for a generating authority with an installed capacity of about 3000 MW is given. Replacement power costs for different cases of severity of damage range from Pound1.17m per month for damage to central services taking out all four units. (author)




    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.

  3. Nuclear safety and nuclear insurance

    Abramovitz, A.


    To an extent, public opinion is against Koeberg, inspite of the fact that Escom, Koeberg's prospective licensee, are liable for damages caused in the event of an accident, that they carry public liability insurance bought in the market place to the maximum of ten million rand, and if that is not enough the government will take over responsibility for the rest. A question is put that if this kind of protection carries on, won't there always be a minority of the public who will find nuclear power socially, psychologically and politically unacceptable

  4. Nuclear insurance in Central and Eastern Europe

    Warren, G.


    In the world outside the former Soviet Union, insurance industries in their respective domestic markets have pooled their resources so as to provide a secure and cost-effective conduit for the transaction of insurance business on behalf of the nuclear industry. These are the so-called nuclear pools. This paper explains the four main principles behind nuclear liability insurance and discusses their application to Central Europe and in particular to the problems facing the nuclear industry in Eastern Europe. (author)

  5. Insurance loss coverage under restricted risk classification

    Hao, Mingjie; Radfall Charitable Trust


    Insurers hope to make profit through pooling policies from a large number of individuals. Unless the risk in question is similar for all potential customers, an insurer is exposed to the possibility of adverse selection by attracting only high-risk individuals. To counter this, insurers have traditionally employed underwriting principles, identifying suitable risk factors to subdivide their potential customers into homogeneous risk groups, based on which risk-related premiums can be charged. ...

  6. Limits of insurability; Grenzen der Versicherbarkeit

    Haerig, Michael [Marsh GmbH, Duesseldorf (Germany)


    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.

  7. Communications Centre Model in Insurance Business

    Danijel Bara


    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.

  8. Application of Actuarial Modelling in Insurance Industry

    Burcã Ana-Maria; Bãtrînca Ghiorghe


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

  9. A Hierarchical Agency Model of Deposit Insurance

    Jonathan Carroll; Shino Takayama


    This paper develops a hierarchical agency model of deposit insurance. The main purpose is to undertake a game theoretic analysis of the consequences of deposit insurance schemes and their effects on monitoring incentives for banks. Using this simple framework, we analyze both risk- independent and risk-dependent premium schemes along with reserve requirement constraints. The results provide policymakers with not only a better understanding of the effects of deposit insurance on welfare and th...

  10. Worker Sorting, Taxes and Health Insurance Coverage

    Kevin Lang; Hong Kang


    We develop a model in which firms hire heterogeneous workers but must offer all workers insurance benefits under similar terms. In equilibrium, some firms offer free health insurance, some require an employee premium payment and some do not offer insurance. Making the employee contribution pre-tax lowers the cost to workers of a given employee premium and encourages more firms to charge. This increases the offer rate, lowers the take-up rate, increases (decreases) coverage among high (low) de...

  11. Deposit Insurance Coverage, Credibility of Non-insurance, and Banking Crises

    Angkinand, Apanard; Wihlborg, Clas


    level require analyses of institutional factors affecting the credibility of non-insurance. In particular, the implementation of effective distress resolution procedures for banks would allow governments to reduce explicit deposit insurance coverage and, thereby, to strengthen market discipline......The ambiguity in existing empirical work with respect to effects of deposit insurance schemes on banks' risk-taking can be resolved if it is recognized that absence of deposit insurance is rarely credible and that the credibility of non-insurance can be enhanced by explicit deposit insurance...... schemes. We show that under reasonable conditions for effects on risk-taking of creditor protection in banking, and for effects on credibility of non-insurance of explicit coverage of deposit insurance schemes, there exists a partial level of coverage that maximizes market discipline and minimizes moral...

  12. Marketing of Insurance Products in Kenya

    Adhiambo, Irene


    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 ...


    Monika Wieczorek-Kosmala


    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.

  14. Incentive and insurance effects of income taxation

    Andersen, Torben M.


    the sensitivity of labour supply to taxes, which tends to reduce tax distortions and lower the marginal costs of public funds. The relation between incentives and insurance and thus efficiency and equity is flattened by the insurance effect and it may even be non-monotone. However, the optimal utilitarian policy......Tax distortions cause a trade-off between efficiency and equity. However, taxes not only affect incentives; they also provide implicit insurance, and this may critically affect the efficiency–equity relationship. For a standard labour supply problem it is shown that the insurance effect mutes...

  15. Congressional Statistics: Disability Insurance for December 2014

    Social Security Administration — While Social Security is best known for providing retirement benefits, the program also provides Disability Insurance (DI) protection to workers and their families...


    Georgeta Dragomir


    Full Text Available The paper represents an analysis in the domain of the social insurances for health care. It emphasizesthe necessity and the opportunity of creating in Romania a medical service market based on the competingsystem. In Romania, the social insurances for health care are at their very beginning. The development of thedomain of the private insurances for health care is prevented even by its legislation, due to the lack of anormative act that may regulate the management of the private insurances for health care. The establishment ofthe legislation related to the optional insurances for health care might lead to some activity norms for thecompanies which carry out optional insurances for health care. The change of the legislation is made in order tocreate normative and financial opportunities for the development of the optional medical insurances. Thischange, as part of the social protection of people, will positively influence the development of the medicalinsurance system. The extension of the segment of the optional insurances into the medical insurance segmentincreases the health protection budget with the value of the financial sources which do not belong to thebudgetary funds.

  17. Entrepreneurial Moral Hazard in Income Insurance

    Ejrnæs, Mette; Hochguertel, Stefan

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

  18. Competitive Cyber-Insurance and Internet Security

    Shetty, Nikhil; Schwartz, Galina; Felegyhazi, Mark; Walrand, Jean

    This paper investigates how competitive cyber-insurers affect network security and welfare of the networked society. In our model, a user's probability to incur damage (from being attacked) depends on both his security and the network security, with the latter taken by individual users as given. First, we consider cyberinsurers who cannot observe (and thus, affect) individual user security. This asymmetric information causes moral hazard. Then, for most parameters, no equilibrium exists: the insurance market is missing. Even if an equilibrium exists, the insurance contract covers only a minor fraction of the damage; network security worsens relative to the no-insurance equilibrium. Second, we consider insurers with perfect information about their users' security. Here, user security is perfectly enforceable (zero cost); each insurance contract stipulates the required user security. The unique equilibrium contract covers the entire user damage. Still, for most parameters, network security worsens relative to the no-insurance equilibrium. Although cyber-insurance improves user welfare, in general, competitive cyber-insurers fail to improve network security.

  19. Willingness to Pay for Insurance in Denmark

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

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

  20. Directions of improving information system of insurance company

    Kaigorodova, G. N.; Mustafina, A. A.; Alyakina, D. P.


    The article presents a study of the information technologies impact on the insurance industry development. At present, any business, especially business in the field of financial intermediation, can count on maintaining its positions only as a technology company. For the insurance business it is now especially important. Other segments of the financial market - the stock and credit market - are actively developing and applying IT-technologies. The insurance business at present is getting opportunities for a technological breakthrough. There is a growing demand for traditional insurance products - property insurance, motor insurance, health insurance. There is a rapidly growing demand for life insurance and insurance against cyber risks. To implement insurance protection in new conditions, the insurance company should actively use information systems. The article presents a possible variant of systematization of the insurer's business processes within the information system of the insurance company.


    Baicker, Katherine; Mullainathan, Sendhil; Schwartzstein, Joshua


    A fundamental implication of standard moral hazard models is overuse of low-value medical care because copays are lower than costs. In these models, the demand curve alone can be used to make welfare statements, a fact relied on by much empirical work. There is ample evidence, though, that people misuse care for a different reason: mistakes, or “behavioral hazard.” Much high-value care is underused even when patient costs are low, and some useless care is bought even when patients face the full cost. In the presence of behavioral hazard, welfare calculations using only the demand curve can be off by orders of magnitude or even be the wrong sign. We derive optimal copay formulas that incorporate both moral and behavioral hazard, providing a theoretical foundation for value-based insurance design and a way to interpret behavioral “nudges.” Once behavioral hazard is taken into account, health insurance can do more than just provide financial protection—it can also improve health care efficiency. PMID:23930294

  2. 76 FR 77455 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance-Slayer's Rule Exclusion


    ... and Veterans' Group Life Insurance--Slayer's Rule Exclusion AGENCY: Department of Veterans Affairs... Veterans' Group Life Insurance--Slayer's Rule Exclusion.'' Copies of comments received will be available...) (slayer's rule ``is undoubtedly an implicit provision of the Servicemen's Group Life Insurance Act of 1965...

  3. 75 FR 15777 - Common Crop Insurance Regulations, Basic Provisions; and Various Crop Insurance Provisions


    ... (protection for production losses only) within one Basic Provisions and the applicable Crop Provisions to..., Macadamia Nut Crop Insurance Provisions, Onion Crop Insurance Provisions, Dry Pea Crop Insurance Provisions... (protection for production losses only) and revenue protection (protection against loss of revenue caused by...

  4. 77 FR 28343 - Insurer Reporting Requirements; List of Insurers Required To File Reports


    ... vehicle insurers that are required to file reports on their motor vehicle theft loss experiences. An... vehicles not covered by theft insurance policies issued by insurers of motor vehicles, other than any... than any governmental entity) used for rental or lease whose vehicles are not covered by theft...

  5. 75 FR 54041 - Insurer Reporting Requirements; List of Insurers Required To File Reports


    .... 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...

  6. Insurance payment process for HANDI 2000 business management system

    Wilson, D.


    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.

  7. 48 CFR 28.308 - Self-insurance.


    ... 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...

  8. 46 CFR 308.300 - Insured amount-application.


    ... Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS WAR RISK INSURANCE Second Seamen's War Risk Insurance § 308.300 Insured amount—application. An applicant for Second Seamen's war risk insurance shall not state the amount of insurance desired, which shall be as provided in...

  9. 7 CFR 457.142 - Northern potato crop insurance provisions.


    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Northern potato crop insurance provisions. 457.142... INSURANCE CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.142 Northern potato crop insurance provisions. The Northern Potato Crop Insurance Provisions for the 2008 and succeeding...

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

    Dementieva, M.; Verhoef, E.T.


    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

  11. 42 CFR 60.14 - The insurance premium.


    ... 42 Public Health 1 2010-10-01 2010-10-01 false The insurance premium. 60.14 Section 60.14 Public... LOAN PROGRAM The Loan § 60.14 The insurance premium. (a) General. (1) The Secretary insures each lender... lender an insurance premium. The insurance premium is due to the Secretary on the date of disbursement of...

  12. Green commercial building insurance in Malaysia

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


    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


    Nataliia Kudriavska


    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

  14. Supplementary insurance as a switching cost for basic health insurance: Empirical results from the Netherlands.

    Willemse-Duijmelinck, Daniëlle M I D; van de Ven, Wynand P M M; Mosca, Ilaria


    Nearly everyone with a supplementary insurance (SI) in the Netherlands takes out the voluntary SI and the mandatory basic insurance (BI) from the same health insurer. Previous studies show that many high-risks perceive SI as a switching cost for BI. Because consumers' current insurer provides them with a guaranteed renewability, SI is a switching cost if insurers apply selective underwriting to new applicants. Several changes in the Dutch health insurance market increased insurers' incentives to counteract adverse selection for SI. Tools to do so are not only selective underwriting, but also risk rating and product differentiation. If all insurers use the latter tools without selective underwriting, SI is not a switching cost for BI. We investigated to what extent insurers used these tools in the periods 2006-2009 and 2014-2015. Only a few insurers applied selective underwriting: in 2015, 86% of insurers used open enrolment for all their SI products, and the other 14% did use open enrolment for their most common SI products. As measured by our indicators, the proportion of insurers applying risk rating or product differentiation did not increase in the periods considered. Due to the fear of reputation loss insurers may have used 'less visible' tools to counteract adverse selection that are indirect forms of risk rating and product differentiation and do not result in switching costs. So, although many high-risks perceive SI as a switching cost, most insurers apply open enrolment for SI. By providing information to high-risks about their switching opportunities, the government could increase consumer choice and thereby insurers' incentives to invest in high-quality care for high-risks. Copyright © 2017 Elsevier B.V. All rights reserved.

  15. 26 CFR 1.831-3 - Tax on insurance companies (other than life or mutual), mutual marine insurance companies, mutual...


    ... mutual), mutual marine insurance companies, mutual fire insurance companies issuing perpetual policies, and mutual fire or flood insurance companies operating on the basis of premium deposits; taxable years... fire insurance companies issuing perpetual policies, and mutual fire or flood insurance companies...

  16. 32 CFR 220.11 - Special rules for automobile liability insurance and no-fault automobile insurance.


    ... and no-fault automobile insurance. 220.11 Section 220.11 National Defense Department of Defense... insurance and no-fault automobile insurance. (a) Active duty members covered. In addition to Uniformed.... 1095 and this part. (c) Exclusion of automobile liability insurance and no-fault automobile insurance...


    Antonina Sholoiko


    Full Text Available The purpose is to define a role and significance of elements of the world insurance market infrastructure. Tasks of the study are the next: to consider the dynamics of development of the world insurance market from 2012 to 2016; to define groups of elements of the world insurance market infrastructure; to characterize elements of the world insurance market infrastructure. Methodology. These tasks are done because of using such methods as: grouping of elements of the world insurance market infrastructure; a collection of information about elements of the world insurance market infrastructure; generalization to define role and significance of elements of the world insurance market infrastructure. Results. World insurance premiums were increasing and decreasing from 2012 to 2016 and did not exceed 6.3% of Gross Domestic Product. Lots of factors influence global insurance premium volume as an indicator of the development of world insurance market. One of them is an activity of the elements of the world insurance market infrastructure. It is necessary to divide them into some groups: A International insurance associations (associations of organizations connected with insurance but members of such associations do not provide insurance services – International Association of Insurance Supervisors, International Association of Insurance Fraud Agencies, Global Federation of Insurance Associations, International Insurance Foundation; B International associations of insurers (includes associations of insurers and other organizations in a certain area of insurance – International Association of Deposit Insurers, International Union of Credit and Investment Insurers, International Association of Agricultural Production Insurers, International Group of P&I Clubs, International Union of Aerospace Insurers, International Union of Marine Insurance, International Association of Engineering Insurers; C International associations of insurance experts

  18. Insure Thyself: A Look at Alternatives

    Weeks, Richard


    Annual double-digit increases in health insurance premiums may be the reality for school districts and private-sector employers for the foreseeable future. The author presents several factors that account for this unwelcome possibility. One cost-saving alternative for districts is to self-insure employees and assume the risks. Districts are…

  19. Nuclear insurance in the future Internal Market

    Mueller-Stein, J.


    Summarizing, it is prognosticated that nuclear insurance practice will not drastically change on account of the Internal Market. This assumption is based on the unanimous estimation of the nuclear energy risk by the international insurance industry, as is documented by their traditional good cooperation in pools. (orig.) [de

  20. 78 FR 32126 - VA Dental Insurance Program


    ... secure reasonable premium and copayment pricing through multiple tier options to allow enrollees to... program that offers premium-based dental insurance to enrolled veterans and certain survivors and... regulations to establish VADIP, a pilot program that would offer premium-based dental insurance to enrolled...

  1. 7 CFR 2201.24 - Insurance.


    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Insurance. 2201.24 Section 2201.24 Agriculture Regulations of the Department of Agriculture (Continued) LOCAL TELEVISION LOAN GUARANTEE BOARD LOCAL TELEVISION LOAN GUARANTEE PROGRAM-PROGRAM REGULATIONS Loan Guarantees § 2201.24 Insurance. The Borrower of a...

  2. Deposit Insurance: A Strategy for Reform.


    by Regulatory Board)a Securities Firm Bankb I Other Firms Not BHC U Permitted :I~( Barik Regulators>. j ..: or SEC)C . ...... _.. Insurance Firm Other BHC...Growth, interest rate, and dividend restrictions, higher capital and/or Insurance premiums, civil money penalties. E J Trlpwire 3: Prbes Capital below

  3. 7 CFR 1980.481 - Insured loans.


    ... REGULATIONS (CONTINUED) GENERAL Business and Industrial Loan Program § 1980.481 Insured loans. Applications...) Constructing and equipping industrial plants for lease to private businesses (not including loans for operating... concurrence prior to approval. B. Applications from private parties for insured loans will not be encouraged...

  4. Insurance risk with variable number of policies

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


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

  5. Internal controls subjects at insurance companies

    Прокопенко, Жанна Володимирівна


    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.

  6. 22 CFR 226.31 - Insurance coverage.


    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Insurance coverage. 226.31 Section 226.31 Foreign Relations AGENCY FOR INTERNATIONAL DEVELOPMENT ADMINISTRATION OF ASSISTANCE AWARDS TO U.S. NON-GOVERNMENTAL ORGANIZATIONS Post-award Requirements Property Standards § 226.31 Insurance coverage. Recipients...

  7. Situational Context of Insurance in Globalization

    S V Martynenko


    Full Text Available This article shows how globalization resolves problems, which are motivated in a new way by modern situational context of social-insurance, how the 'insurance cocoon' of civilization leads to narrowing of conflict space in the world politics.

  8. The Multiplication Effect of Legal Insurance

    J.P.B. De Mot (Jef); B. Depoorter (Ben); M.G. Faure (Michael)


    textabstractBecause legal insurance policies cover the expenses of plaintiffs in bringing legal claims, such policies increase the risk of negligent or careless acts by tortfeasors. For this reason, potential tortfeasors would prefer to avoid injuring holders of legal insurance policies. Since

  9. Smart Questions To Ask Your Insurance Agent.

    Cohen, Abby J.


    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…

  10. 13 CFR 120.170 - Flood insurance.


    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Flood insurance. 120.170 Section 120.170 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Policies Applying to All Business Loans Requirements Imposed Under Other Laws and Orders § 120.170 Flood insurance...


    Ersilia Catrina


    Full Text Available The insurance market can be considered a market where all sorts of anomalies can be encountered or a current acquisition for a situation considered to be certain or relative future, depending on the type of insurance. For the most part, assurance is based on a premise, a hypothesis that is generally based on several factors of influence. Generally, the most important factors in making such a decision are generated by the human-sensitive factor or the economicprotective. Therefore, by joining the insurance market and purchasing any kind of insurance, we must also take into account the risks that arise from these products. Generally, most people perceive these insurance policies in different areas as a future guarantee without considering additional elements that can highlight risk elements that may alter the expected outcome of the acquirer. An important element to mitigate these risks would be the implementation and use of internal control over the supply chain, control that would make a difference between an activity under normal, predictable and legal conditions and a random activity with many elements of risk that can cause major damage to those involved, and to the insurer and the insured. Through this paper, the author aimed to highlight the importance of internal control in insurance companies, as well as the consequences of the lack of internal control within these societies

  12. 14 CFR 1260.131 - Insurance coverage.


    ... coverage. Recipients shall, at a minimum, provide the equivalent insurance coverage for real property and equipment acquired with Federal funds as provided for property owned by the recipient. Federally-owned property need not be insured unless required by the terms and conditions of the award. ...

  13. Determinants of health insurance and hospitalization

    Tadashi Yamada


    Full Text Available Our paper empirically examines how the decision to purchase private insurance and hospitalization are made based on household income, socio-demographic factors, and private health insurance factors in both Japan and the USA. Using these two data-sets, we found some similarities and dissimilarities between Japan and the United States. As income of households rises, households have a positive effect on purchasing health insurance as a normal good. Another similarity between the two countries is seen in the income effect on risk of hospitalization, which is negative for both Japanese and US cases. For dissimilarity, the insurance premium effect on risk of hospitalization is positive for the Japanese case, while negative for the US case. Since the Japanese insurance data had variables such as payments per day of hospitalization if household gets hospitalized, insurance payments upon death of an insured person, and annuity payments at maturity, we tested to see if these characteristics affect the risk of hospitalization for households; we do not eliminate a possibility of adverse selection. For the US pure health issuance characteristics, an increase in premium of health insurance policies cause individuals to substitute more health capital investment which causes lower risk of hospitalization.

  14. Economic and Managerial Approach of Health Insurances

    Marinela BOBOC


    Full Text Available The paper represents an analysis in the domain of the social insurances for health care. It emphasizes the necessity and the opportunity ofcreating in Romania a medical service market based on the competing system. In Romania, the social insurances for health care are at their verybeginning. The development of the domain of the private insurances for health care is prevented even by its legislation, due to the lack of a normativeact that may regulate the management of the private insurances for health care. The establishment of the legislation related to the optional insurancesfor health care might lead to some activity norms for the companies which carry out optional insurances for health care. The change of the legislationis made in order to create normative and financial opportunities for the development of the optional medical insurances. This change, as part of thesocial protection of people, will positively influence the development of the medical insurance system. The extension of the segment of the optionalinsurances into the medical insurance segment increases the health protection budget with the value of the financial sources which do not belong tothe budgetary funds.

  15. 19 CFR 351.520 - Export insurance.


    ... Duties INTERNATIONAL TRADE ADMINISTRATION, DEPARTMENT OF COMMERCE ANTIDUMPING AND COUNTERVAILING DUTIES Identification and Measurement of Countervailable Subsidies § 351.520 Export insurance. (a) Benefit—(1) In general. In the case of export insurance, a benefit exists if the premium rates charged are inadequate to...

  16. The Hungarian car insurance cartel saga

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


    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

  17. Catastrophic risk : Social influences on insurance decisions

    Krawczyk, Michal; Trautmann, Stefan; van de Kuilen, Gijs

    We study behavioral patterns of insurance demand for low-probability large-loss events (catastrophic losses). Individual patterns of belief formation and risk attitude that were suggested in the behavioral decisions literature emerge robustly in the current set of insurance choices. However, social

  18. Transport insurance of unirradiated nuclear fuels

    Matto, H.


    Special conditions must be taken into account in transport insurance for nuclear materials even if the nuclear risk involved is negligible, as in shipments of unirradiated nuclear fuels. The shipwreck of the 'Mont Louis' has raised a number of open points which must be solved pragmatically within the framework of transport insurance. Some proposals are outlined in the article. (orig.) [de


    Gheorghe MOROŞAN


    Full Text Available One of the most important phenomena of the last decade has been the convergence of the financial services industry, especially the capital and insurance markets. The convergence in the insurance industry was determined by the increased frequency and the severity of catastrophic risks, market inefficiency in the past, and the new technologies in IT and communications. These globally developments can be observed much better at EU level, one of the most integrated areas of the world, which aimed the convergence of financial market, including an important component such as insurance market. As part of the EU, Romania also aims to financial market convergence with the EU countries. The article offers an overview and an analysis of the insurance market in the EU and Romania. Through a wide series of indicators such as: the amount of insurance premiums, degree of penetration, number of employees or number of insurance companies, it will analyze the evolution of this market convergence, as per all EU countries and Romania. It will identify the stage in which the insurance market in Romania is, regarding the requirements of full integration. Finally, there will be identified factors encouraging and particularly those who are impediments to insurance market convergence in Romania.

  20. 24 CFR 232.885 - Insurance benefits.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance benefits. 232.885 Section 232.885 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued....885 Insurance benefits. (a) Method of payment. Payment of claim shall be made in the following manner...

  1. Visualization tools for insurance risk processes

    Krzysztof Burnecki; Rafal Weron


    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.

  2. Geothermal reservoir insurance study. Final report


    The principal goal of this study was to provide analysis of and recommendations on the need for and feasibility of a geothermal reservoir insurance program. Five major tasks are reported: perception of risk by major market sectors, status of private sector insurance programs, analysis of reservoir risks, alternative government roles, and recommendations.

  3. Federal Deposit Insurance Corporation Semiannual Regulatory Agenda


    ... financial institutions in cooperation with minority- and women-owned financial institutions and low-income... Financial Assets Transferred by an Insured Depository Institution: The Federal Deposit Insurance Corporation...: Market Risk: The OCC, Board and the FDIC proposed revisions to the market risk capital rule to enhance...

  4. Probability numeracy and health insurance purchase

    Dillingh, Rik; Kooreman, Peter; Potters, Jan


    This paper provides new field evidence on the role of probability numeracy in health insurance purchase. Our regression results, based on rich survey panel data, indicate that the expenditure on two out of three measures of health insurance first rises with probability numeracy and then falls again.


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

  6. Insuring Life : Value, Security and Risk

    Lobo-Guerrero, Luis


    This book is a contribution to the scholarly engagement with the wider problem of governing through risk and the politics of uncertainty. It takes life insurance as an empirical site from which to ask: what is the kind of governance created through insurance an instance of, and how does it




  8. Regulated Medicare Advantage And Marketplace Individual Health Insurance Markets Rely On Insurer Competition.

    Frank, Richard G; McGuire, Thomas G


    Two important individual health insurance markets-Medicare Advantage and the Marketplaces-are tightly regulated but rely on competition among insurers to supply and price health insurance products. Many local health insurance markets have little competition, which increases prices to consumers. Furthermore, both markets are highly subsidized in ways that can exacerbate the impact of market power-that is, the ability to set price above cost-on health insurance prices. Policy makers need to foster robust competition in both sectors and avoid designing subsidies that make the market-power problem worse. Project HOPE—The People-to-People Health Foundation, Inc.

  9. Public health insurance under a nonbenevolent state.

    Lemieux, Pierre


    This paper explores the consequences of the oft ignored fact that public health insurance must actually be supplied by the state. Depending how the state is modeled, different health insurance outcomes are expected. The benevolent model of the state does not account for many actual features of public health insurance systems. One alternative is to use a standard public choice model, where state action is determined by interaction between self-interested actors. Another alternative--related to a strand in public choice theory--is to model the state as Leviathan. Interestingly, some proponents of public health insurance use an implicit Leviathan model, but not consistently. The Leviathan model of the state explains many features of public health insurance: its uncontrolled growth, its tendency toward monopoly, its capacity to buy trust and loyalty from the common people, its surveillance ability, its controlling nature, and even the persistence of its inefficiencies and waiting lines.

  10. Conceptualising the lack of health insurance coverage.

    Davis, J B


    This paper examines the lack of health insurance coverage in the US as a public policy issue. It first compares the problem of health insurance coverage to the problem of unemployment to show that in terms of the numbers of individuals affected lack of health insurance is a problem comparable in importance to the problem of unemployment. Secondly, the paper discusses the methodology involved in measuring health insurance coverage, and argues that the current method of estimation of the uninsured underestimates the extent that individuals go without health insurance. Third, the paper briefly introduces Amartya Sen's functioning and capabilities framework to suggest a way of representing the extent to which individuals are uninsured. Fourth, the paper sketches a means of operationalizing the Sen representation of the uninsured in terms of the disability-adjusted life year (DALY) measure.

  11. Optimal non-linear health insurance.

    Blomqvist, A


    Most theoretical and empirical work on efficient health insurance has been based on models with linear insurance schedules (a constant co-insurance parameter). In this paper, dynamic optimization techniques are used to analyse the properties of optimal non-linear insurance schedules in a model similar to one originally considered by Spence and Zeckhauser (American Economic Review, 1971, 61, 380-387) and reminiscent of those that have been used in the literature on optimal income taxation. The results of a preliminary numerical example suggest that the welfare losses from the implicit subsidy to employer-financed health insurance under US tax law may be a good deal smaller than previously estimated using linear models.

  12. Insurer risk control and nuclear liability

    DeMerchant, C. [Nuclear Insurance Association of Canada, Toronto, ON (Canada)


    We specialize in high quality insurance risk management, underwriting and inspections for Canadian nuclear exposures. We provide true risk transfer, secure insurance capacity and collaborate with the world's nuclear experts to create innovative domestic solutions for our clients and members. The benefit of our experience works for all stake holders: insured clients, members, multi-level government agencies and all Canadians. NIAC has a 55-year history of partnering with insurers around the globe to create reliable risk management for the nuclear industry. We offer Canadian risk solutions, thought leadership and expertise that provides security and confidence to our customers and members. NIAC leads in the areas of nuclear insurance law, good governance and claims administration to create a true Centre of Excellence.

  13. Insurer risk control and nuclear liability

    DeMerchant, C.


    We specialize in high quality insurance risk management, underwriting and inspections for Canadian nuclear exposures. We provide true risk transfer, secure insurance capacity and collaborate with the world's nuclear experts to create innovative domestic solutions for our clients and members. The benefit of our experience works for all stake holders: insured clients, members, multi-level government agencies and all Canadians. NIAC has a 55-year history of partnering with insurers around the globe to create reliable risk management for the nuclear industry. We offer Canadian risk solutions, thought leadership and expertise that provides security and confidence to our customers and members. NIAC leads in the areas of nuclear insurance law, good governance and claims administration to create a true Centre of Excellence.

  14. Premium Forecasting of AN Insurance Company:

    Fouladvand, M. Ebrahim; Darooneh, Amir H.

    We present an analytical study of an insurance company. We model the company's performance on a statistical basis and evaluate the predicted annual income of the company in terms of insurance parameters namely the premium, the total number of insured, average loss claims etc. We restrict ourselves to a single insurance class the so-called automobile insurance. We show the existence of a crossover premium pc below which the company is operating at a loss. Above pc, we also give a detailed statistical analysis of the company's financial status and obtain the predicted profit along with the corresponding risk as well as ruin probability in terms of premium. Furthermore we obtain the optimal premium popt which maximizes the company's profit.

  15. The insurance refund request: a legal analysis.

    Rollman, S O


    When an insurance payment is made erroneously to a healthcare provider and no contract between the insurer and provider addresses the issue of refunding such payments, the law relating to restitution generally applies. Restitution does not apply, however, to three exceptions that the courts have used to refuse claims by insurers for refunds of overpayments: the innocent third-party creditor exception, whereby the healthcare provider cannot be unjustly enriched by the overpayment, cannot have induced the mistaken payment, and cannot have known beforehand that the insurer was not obligated to pay; the material change in position exception, whereby the healthcare provider in good faith accepts an overpayment and so does not pursue other means of payment; and the assumption of the risk exception, which occurs when the insurer pays a claim without having complete information about it.

  16. Features of insurance evolution in the Internet expansion

    A.Yu. Polchanov


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

  17. 77 FR 30377 - Health Insurance Premium Tax Credit


    ... Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. SUMMARY: This document contains final regulations relating to the health insurance premium tax... categories of immigrants described in the Children's Health Insurance Program Reauthorization Act. One...

  18. Insuring Care: Paperwork, Insurance Rules, and Clinical Labor at a U.S. Transgender Clinic.

    van Eijk, Marieke


    What is a clinician to do when people needing medical care do not have access to consistent or sufficient health insurance coverage and cannot pay for care privately? Analyzing ethnographically how clinicians at a university-based transgender clinic in the United States responded to this challenge, I examine the U.S. health insurance system, insurance paperwork, and administrative procedures that shape transgender care delivery. To buffer the impact of the system's failure to provide sufficient health insurance coverage for transgender care, clinicians blended administrative routines with psychological therapy, counseled people's minds and finances, and leveraged the prestige of their clinic in attempts to create space for gender nonconforming embodiments in gender conservative insurance policies. My analysis demonstrates that in a market-based health insurance system with multiple payers and gender binary insurance rules, health care may be unaffordable, or remain financially challenging, even for transgender people with health insurance. Moreover, insurance carriers' "reliance" on clinicians' insurance-related labor is problematic as it exacerbates existing insurance barriers to the accessibility and affordability of transgender care and obscures the workings of a financial payment model that prioritizes economic expediency over gender nonconforming health.

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

    Rydlewska-Liszkowska, Izabela


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

  20. Defining the key-parameters of insurance product in Islamic insurance

    Galim Zaribzyanovich Vakhitov


    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

  1. The unending deposit insurance mess.

    Kane, E J


    The thrift institution deposit insurance mess is rooted in defects in political and bureaucratic accountability. Under existing incentives, covering up evidence of poor regulatory performance and relaxing binding capital requirements are rational governmental responses to widespread industry insolvency. Similarly, aggressive industry risk taking is a rational response by thrift managers to regulatory forbearances. Far from acknowledging these incentive defects, the Bush plan for cleaning up the mess adopts theories that spotlight other causes: specifically, poor thrift management and the deregulation of thrift institution activities and of deposit interest rates. To end the mess, politicians and regulators must jettison these comfortable theories and surrender discretion that permits them to finesse the need to budget for governmental financial commitments.


    Cut Zaraswati


    Full Text Available The objectives of this research are to: 1 compare the effect of premium earnings products of health insurances after the launching of national social health insurance (JKN-BPJS (Badan Penyelenggara Jaminan Sosial for health; 2 analyze the internal and external factors of private/commercial health insurance companies; 3 formulate a marketing strategyy for health insurance product after the operation of JKN-BPJS for health.  It is a challenge for commercial health insurance to survive and thrive with the existence of JKN-BPJS for health which is compulsory to Indonesia’s citizens to be a member. The research begins by analyzing premium earnings of the commercial health insurance company one year before and after the implementation of JKN-BPJS for health, the intensive interviews and questionnaires to the chosen resource person (purposive samplings, the analysis on Internal Factor Evaluation (IFE, External Factor Evaluation (EFE, Matrix IE and SWOT are used in the research. Then it is continued by arranging a strategic priority using Analytical Hierarchy Process (AHP.  The result from the research is there is totally no decreasing premium earnings for the commercial health insurance company although the growth trend shows a slight drop.  The appropriate strategy for the health insurance company in the commercial sector is the differentiation where the implication is involving customer service quality improvement, product innovation, and technology and infrastructure development.      Keywords:  commercial health insurance company, Marketing Strategy, AHP Analysis, national social health insurance

  3. Insurance. Part 3. Property, housing, and disaster insurance (a bibliography with abstracts). Report for 1964--Jun 1975

    Young, M.E.


    Several types of insurance are discussed in the three part bibliography. Part 3 includes citations on property and mortgage insurance, and insurance for such disasters as floods, fires, earthquakes, and nuclear accidents. (Contains 70 abstracts)

  4. Nuclear liability act and nuclear insurance

    Clarke, Roy G.; Goyette, R.; Mathers, C.W.; Germani, T.R.


    The Nuclear Liability Act, enacted in June 1970 and proclaimed effective October 11, 1976, is a federal law governing civil liability for nuclear damage in Canada incorporating many of the basic principles of the international conventions. Exceptions to operator liability for breach of duty imposed by the Act and duty of the operator as well as right of recourse, time limit on bringing actions, special measures for compensation and extent of territory over which the operator is liable are of particular interest. An operator must maintain $75,000,000. of insurance for each nuclear installation for which he is the operator. The Nuclear Insurance Association of Canada (NIAC) administers two ΣPoolsΣ or groups of insurance companies where each member participates for the percentage of the total limit on a net basis, one pool being for Physical Damage Insurance and the other for Liability Insurance. The Atomic Energy Control Board recommends to the Treasury Board the amount of insurance (basic) for each installation. Basic insurance required depends on the exposure and can range from $4 million for a fuel fabricator to $75 million for a power reactor. Coverage under the Operator's Policy provides for bodily injury, property damage and various other claims such as damage from certain transportation incidents as well as nuclear excursions. Workmen's Compensation will continue to be handled by the usual channels. (L.L.)

  5. Distribution channels of insurance and reinsurance services

    Njegomir Vladimir


    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.

  6. Nuclear property insurance: status and outlook


    The report addresses the problem of the unavailability of adequate levels of property insurance for commercial power reactors to pay for decontamination and cleanup costs arising from accidents. The report is designed to answer six questions, as follows: (1) What has been the development of each principal source of nuclear property insurance used as of early 1982 by nuclear utilities in the United States; (2) What are some of the distinguishing features of nuclear property insurance as offered by the principal sources; (3) How much nuclear property insurance was offered by each of these sources as of January 1, 1982; (4) Assuming that present plans came to fruition, how much nuclear property insurance is likely to be offered by each of these sources as of January 1, 1983; (5) What, if any, principal sources of nuclear property insurance are likely to emerge in the private sector by January 1, 1983; (6) What problems serious enough to warrant action of the NRC exist with respect to nuclear property insurance and what action should NRC take in response to each problem

  7. Experiences obtaining insurance after live kidney donation.

    Boyarsky, B J; Massie, A B; Alejo, J L; Van Arendonk, K J; Wildonger, S; Garonzik-Wang, J M; Montgomery, R A; Deshpande, N A; Muzaale, A D; Segev, D L


    The impact of kidney donation on the ability to change or initiate health or life insurance following donation is unknown. To quantify this risk, we surveyed 1046 individuals who donated a kidney at our center between 1970 and 2011. Participants were asked whether they changed or initiated health or life insurance after donation, and if they had any difficulty doing so. Among 395 donors who changed or initiated health insurance after donation, 27 (7%) reported difficulty; among those who reported difficulty, 15 were denied altogether, 12 were charged a higher premium and 8 were told they had a preexisting condition because they were kidney donors. Among 186 donors who changed or initiated life insurance after donation, 46 (25%) reported difficulty; among those who reported difficulty, 23 were denied altogether, 27 were charged a higher premium and 17 were told they had a preexisting condition because they were kidney donors. In this single-center study, a high proportion of kidney donors reported difficulty changing or initiating insurance, particularly life insurance. These practices by insurers create unnecessary burden and stress for those choosing to donate and could negatively impact the likelihood of live kidney donation among those considering donation. © Copyright 2014 The American Society of Transplantation and the American Society of Transplant Surgeons.


    NAN Anca-Petruţa


    Full Text Available Because of the fact that specialty agricultural assistance is not always available when the farmers need it, we identified expert systems as a strong instrument with an extended potential in agriculture. This started to grow in scale recently, including all socially-economic activity fields, having the role of collecting data regarding different aspects from human experts with the purpose of assisting the user in the necessary steps for solving problems, at the performance level of the expert, making his acquired knowledge and experience available. We opted for a general presentation of the expert systems as well as their necessity, because, the solution to develop the agricultural system can come from artificial intelligence by implementing the expert systems in the field of agricultural insurance, promoting existing insurance products, farmers finding options in depending on their necessities and possibilities. The objective of this article consists of collecting data about different aspects about specific areas of interest of agricultural insurance, preparing the database, a conceptual presentation of a pilot version which will become constantly richer depending on the answers received from agricultural producers, with the clearest exposure of knowledgebase possible. We can justify picking this theme with the fact that even while agricultural insurance plays a very important role in agricultural development, the registered result got from them are modest, reason why solutions need to be found in the scope of developing the agricultural sector. The importance of this consists in the proposal of an immediate viable solution to correspond with the current necessities of agricultural producers and in the proposal of an innovative solution, namely the implementation of expert system in agricultural insurance as a way of promoting insurance products. Our research, even though it treats the subject at an conceptual level, it wants to undertake an

  9. Efficiency Assessment in the Automobile Insurance Sector

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


    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...

  10. Understanding Reporting Delay in General Insurance

    Richard J. Verrall


    Full Text Available The aim of this paper is to understand and to model claims arrival and reporting delay in general insurance. We calibrate two real individual claims data sets to the statistical model of Jewell and Norberg. One data set considers property insurance and the other one casualty insurance. For our analysis we slightly relax the model assumptions of Jewell allowing for non-stationarity so that the model is able to cope with trends and with seasonal patterns. The performance of our individual claims data prediction is compared to the prediction based on aggregate data using the Poisson chain-ladder method.

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

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


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


    Nataliya Prikazyuk


    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

  13. Database setup insuring radiopharmaceuticals traceability

    Robert, N.; Salmon, F.; Clermont-Gallerande, H. de; Celerier, C.


    Having to organize radiopharmacy and to insure proper traceability of radiopharmaceutical medicines brings numerous problems, especially for the departments which are not assisted with global management network systems. Our work has been to find a solution enabling to use high street software to cover those needs. We have set up a PC database run by the Microsoft software ACCESS 97. Its use consists in: saving data related to generators, isotopes and kits reception and deletion, as well as the results of quality control; transferring data collected from the software that is connected to the activimeter (elutions and preparations registers, prescription book). By relating all the saved data, ACCESS enables to mix all information in order to proceed requests. At this stage, it is possible to edit all regular registers (prescription book, generator and radionuclides follow-up, blood derived medicines traceability) and to quickly retrieve patients who have received a particular radiopharmaceutical, or the radiopharmaceutical that has been given to a particular patient. This user-friendly database provides a considerable support to nuclear medicine department that don't possess any network management for their radiopharmaceutical activity. (author)

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

    Urban Sebjan


    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...


    Human Resources Division


    Affected by the salary adjustments on 1 January 2001 and the evolution of the staff members and fellows population, the average reference salary, which is used as an index for fixed contributions and reimbursement maxima, has changed significantly. An adjustment of the amounts of the reimbursement maxima and the fixed contributions is therefore necessary, as from 1 January 2001. Reimbursement maxima The revised reimbursement maxima will appear on the leaflet summarizing the benefits for the year 2001, which will be sent out with the forthcoming issue of the CHIS Bull'. This leaflet will also be available from the divisional secretariats and from the UNIQA office at CERN. Fixed contributions The fixed contributions, applicable to some categories of voluntarily insured persons, are set as follows (amounts in CHF for monthly contributions) : voluntarily insured member of the personnel, with normal health insurance cover : 910.- (was 815.- in 2000) voluntarily insured member of the personnel, with reduced heal...


    HR Division


    Affected by both the salary adjustment index on 1.1.2000 and the evolution of the staff members and fellows population, the average reference salary, which is used as an index for fixed contributions and reimbursement maximal, has changed significantly. An adjustment of the amounts of the reimbursement maximal and the fixed contributions is therefore necessary, as from 1 January 2000.Reimbursement maximalThe revised reimbursement maximal will appear on the leaflet summarising the benefits for the year 2000, which will soon be available from the divisional secretariats and from the AUSTRIA office at CERN.Fixed contributionsThe fixed contributions, applicable to some categories of voluntarily insured persons, are set as follows (amounts in CHF for monthly contributions):voluntarily insured member of the personnel, with complete coverage:815,- (was 803,- in 1999)voluntarily insured member of the personnel, with reduced coverage:407,- (was 402,- in 1999)voluntarily insured no longer dependent child:326,- (was 321...

  17. Flood Insurance Rate Map, Scott County, USA

    Federal Emergency Management Agency, Department of Homeland Security — The Digital Flood Insurance Rate Map (DFIRM) Database depicts flood risk information and supporting data used to develop the risk data. The primary risk...


    Federal Emergency Management Agency, Department of Homeland Security — The Digital Flood Insurance Rate Map (DFIRM) Database depicts flood risk Information And supporting data used to develop the risk data. The primary risk;...

  19. Providing Universal Health Insurance Coverage in Nigeria.

    Okebukola, Peter O; Brieger, William R


    Despite a stated goal of achieving universal coverage, the National Health Insurance Scheme of Nigeria had achieved only 4% coverage 12 years after it was launched. This study assessed the plans of the National Health Insurance Scheme to achieve universal health insurance coverage in Nigeria by 2015 and discusses the challenges facing the scheme in achieving insurance coverage. In-depth interviews from various levels of the health-care system in the country, including providers, were conducted. The results of the analysis suggest that challenges to extending coverage include the difficulty in convincing autonomous state governments to buy into the scheme and an inadequate health workforce that might not be able to meet increased demand. Recommendations for increasing the scheme's coverage include increasing decentralization and strengthening human resources for health in the service delivery systems. Strong political will is needed as a catalyst to achieving these goals. © The Author(s) 2016.

  20. Coverage matters: insurance and health care

    Board on Health Care Services Staff; Institute of Medicine Staff; Institute of Medicine; National Academy of Sciences


    ...: Insurance and Health Care , explores the myths and realities of who is uninsured, identifies social, economic, and policy factors that contribute to the situation, and describes the likelihood faced...

  1. Insure Kids Now (IKN) (Dental Care Providers)

    U.S. Department of Health & Human Services — The Insure Kids Now (IKN) Dental Care Providers in Your State locator provides profile information for oral health providers participating in Medicaid and Children's...

  2. Benefit Reentitlement Conditions in Unemployment Insurance Schemes

    Andersen, Torben M.; Christoffersen, Mark Strøm; Svarer, Michael

    and employment requirements are substitute instruments in affecting job search incentives and thus gross unemployment. We analyse the optimal design of the unemployment insurance system (benefit levels, duration and employment requirements) under a utilitarian social welfare function. Simulations show...

  3. 28 CFR 70.31 - Insurance coverage.


    ... with Federal funds as provided to property owned by the recipient. Federally-owned property need not be...-PROFIT ORGANIZATIONS Post-Award Requirements Property Standards § 70.31 Insurance coverage. Recipients...

  4. Health Insurance Rate Review Fact Sheet

    U.S. Department of Health & Human Services — The Affordable Care Act is bringing an unprecedented level of scrutiny and transparency to health insurance rate increases. The Act ensures that, in any State, any...


    Federal Emergency Management Agency, Department of Homeland Security — The Digital Flood Insurance Rate Map (DFIRM) Database depicts flood risk Information And supporting data used to develop the risk data. The primary risk;...

  6. 33 CFR 136.111 - Insurance.


    ... POLLUTION FINANCIAL RESPONSIBILITY AND COMPENSATION OIL SPILL LIABILITY TRUST FUND; CLAIMS PROCEDURES... which compensation is claimed: (1) The name and address of each insurer. (2) The kind and amount of...

  7. Courts, Scheduled Damages, and Medical Malpractice Insurance

    Bertoli, Paola; Grembi, Veronica

    We assess the impact of the introduction of schedules of non-economic damages (i.e. tiered caps systems) on the behavior of insurers operating in the medical liability market for hospitals while controlling the performance of the judicial system, measured as court backlog. Using a difference......-in-differences strategy on Italian data, we find that the introduction of schedules increases the presence of insurers (i.e. medical liability market attractiveness) only in inefficient judicial districts. In the same way, court inefficiency is attractive to insurers for average values of schedules penetration...... of the market, with an increasing positive impact of inefficiency as the territorial coverage of schedules increases. Finally, no significant impact is registered on paid premiums. Our analysis sheds light on a complex set of elements affecting the decisions of insurers in malpractice markets. The analysis...

  8. Insurance Cover for Revised Nuclear Liability

    Reitsma, S. M. S.


    The financial security to be provided to victims of an incident at a nuclear installation is the main objective of international nuclear liability conventions. As from the introduction of the Paris Convention on Third Party Liability in the Field of Nuclear Energy in 1960 and the Vienna Convention on Liability for Nuclear Damage in 1963 insurers have been prepared to provide the financial capacity needed to cover the liability under both conventions. They did so in close co-operation with the competent national and international authorities, which has resulted in the insurability of as much of the nuclear liability under the conventions as possible. This tradition of co-operation between authorities and insurers was extended to include the revision negotiations regarding the above conventions, which were concluded in 1997 and 2004 respectively. This has resulted in the insurability of by far the largest part of the convention based liability. However, some heads of damage have been introduced about which insurers had expressed concerns as to their likelihood to attract insurance support. In view of the explicit choice by Convention States to include the uninsurable heads of damage into the revised conventions one would expect that liability for them would fall upon national Governments. This would reflect practice in a number of States, which already assume liability for uninsurable mandatory liabilities for a long time. Nonetheless some other States now seem reluctant to do so, the resulting deadlock having a tendency to manifest itself in a negative perception of the insurance industry. Insurers are therefore appreciative of the forum provided by the CNS to once again explain the areas where problems as regards insurability have arisen and why this is the case. This presentation will show that those areas are few in number and notably relate to a limited number of environmental damages as well as the extension of prescription periods. Furthermore, thoughts will

  9. Affective Decision Making in Insurance Markets

    Anat Bracha


    This paper suggests incorporating affective considerations into decision making theory and insurance decision in particular. I describe a decision maker with two internal accounts - the rational account and the mental account. The rational account decides on insurance to maximize expected (perceived) utility, while the mental account chooses risk perceptions which then affect the perceived expected utility. The two accounts interact to reach a decision which is composed of both risk perceptio...

  10. Insurability of Cyber Risk: An Empirical Analysis

    Biener, Christian; Eling, Martin; Wirfs, Jan Hendrik


    This paper discusses the adequacy of insurance for managing cyber risk. To this end, we extract 994 cases of cyber losses from an operational risk database and analyse their statistical properties. Based on the empirical results and recent literature, we investigate the insurability of cyber risk by systematically reviewing the set of criteria introduced by Berliner (1982). Our findings emphasise the distinct characteristics of cyber risks compared with other operational risks and bring to li...

  11. Distribution channels of insurance and reinsurance services

    Njegomir Vladimir


    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 chan...

  12. Employee Responses to Health Insurance Premium Increases

    Goldman, Dana; Leibowitz, Arleen; Robalino, David


    Objective: To determine the sensitivity of employees’ health insurance decisions—including the decision to not choose health maintenance organization or fee-for-service coverage—during periods of rapidly escalating healthcare costs. Study Design: A retrospective cohort study of employee plan choices at a single large firm with a “cafeteria-style” benefits plan wherein employees paid all the additional cost of purchasing more generous insurance. Methods: We modeled the probabil...

  13. Global warming and the insurance industry

    Berz, G. A.


    In the last few decades, the international insurance industry has been confronted with a drastic increase in the scope and frequency of great natural disasters. The trend is primarily attributable to the continuing steady growth of the world population and the increasing concentration of people and economic values in urban areas. An additional factor is the global migration of populations and industries into areas like the coastal regions which are particularly exposed to natural hazards. The natural hazards themselves, on the other hand, have not yet shown any significant increase. In addition to the problems the insurance industry has with regard to pricing, capacity and loss reserves, the assessment of insured liabilities, preventive planning and the proper adjustment of catastrophe losses are gaining importance. The present problems will be dramatically aggravated if the greenhouse predictions come true. The increased intensity of all convective processes in the atmosphere will force up the frequency and severity of tropical cyclones, tornados, hailstorms, floods and storm surges in many parts of the world with serious consequences for all types of property insurance. Rates will have to be raised and in certain coastal areas insurance coverage will only be available after considerable restrictions have been imposed, e.g., significant deductibles and/or liability or loss limits. In areas of high insurance density the loss potential of individual catastrophes can reach a level where the national and international insurance industries run into serious capacity problems. Recent disasters showed the disproportionately high participation of reinsurers in extreme disaster losses and the need for more risk transparency if the insurance industry is to fulfill its obligations in an increasingly hostile environment.

  14. Gaps in the nuclear insurance regime

    Reitsma, S.


    Insurers actively contributed to the negotiations to revise both the Vienna Convention and the Paris Convention. This presentation refer most extensively to input provided by insurers in respect of the Paris convention. The author explains that the current trend towards higher compensation limits, as confirmed in the revisions of both the Vienna and the Paris conventions, leads to increased surveillance of private capital exposure and thereby poses a challenge to governments to provide alternative solutions. (A.L.B.)

  15. Health insurance premium tax credit. Final regulations.


    This document contains final regulations relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.These final regulations provide guidance to individuals related to employees who may enroll in eligible employer-sponsored coverage and who wish to enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the premium tax credit.

  16. Housing Instability and Children's Health Insurance Gaps.

    Carroll, Anne; Corman, Hope; Curtis, Marah A; Noonan, Kelly; Reichman, Nancy E

    To assess the extent to which housing instability is associated with gaps in health insurance coverage of preschool-age children. Secondary analysis of data from the Early Childhood Longitudinal Study-Birth Cohort, a nationally representative study of children born in the United States in 2001, was conducted to investigate associations between unstable housing-homelessness, multiple moves, or living with others and not paying rent-and children's subsequent health insurance gaps. Logistic regression was used to adjust for potentially confounding factors. Ten percent of children were unstably housed at age 2, and 11% had a gap in health insurance between ages 2 and 4. Unstably housed children were more likely to have gaps in insurance compared to stably housed children (16% vs 10%). Controlling for potentially confounding factors, the odds of a child insurance gap were significantly higher in unstably housed families than in stably housed families (adjusted odds ratio 1.27; 95% confidence interval 1.01-1.61). The association was similar in alternative model specifications. In a US nationally representative birth cohort, children who were unstably housed at age 2 were at higher risk, compared to their stably housed counterparts, of experiencing health insurance gaps between ages 2 and 4 years. The findings from this study suggest that policy efforts to delink health insurance renewal processes from mailing addresses, and potentially routine screenings for housing instability as well as referrals to appropriate resources by pediatricians, would help unstably housed children maintain health insurance. Copyright © 2017 Academic Pediatric Association. Published by Elsevier Inc. All rights reserved.

  17. Individual savings accounts for social insurance

    Bovenberg, Lans; Hansen, Martin Ino; Sørensen, Peter Birch


    Using Danish data, we find that about three-fourths of the taxes levied to finance public transfers actually finance benefits that redistribute income over the life cycle of individual taxpayers rather than redistribute resources across people. This finding and similar results for other countries...... provide a rationale for financing part of social insurance via mandatory individual savings accounts. We discuss the advantages and disadvantages of mandatory individual savings accounts for social insurance and survey some recent alternative proposals for such accounts...




    Full Text Available The pure premium or risk premium is the premium that would exactly meet the expected cost of the risk covered ignoring management expenses, commissions, contingency loading, etc. Claim frequency rate and mean claim size are required for estimation in calculating risk premiums. In this study, we discussed to estimate claim frequency rate and mean claim size with several methods and calculated risk premiums. Data, which supported our study, is provided by insurance company involving with motor vehicle insurance.


    N. Prikazyuk


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

  20. 75 FR 54076 - National Flood Insurance Program, Policy Wording Correction


    ... line with the format of the insurance industry's homeowners policy. FEMA also proposed changes in the...: FEMA-2010-0021] RIN 1660-AA70 National Flood Insurance Program, Policy Wording Correction AGENCY... correction to the FEMA, Federal Insurance and Mitigation Administration, Standard Flood Insurance Policy...

  1. 76 FR 7508 - National Flood Insurance Program, Policy Wording Correction


    ... the insurance industry's homeowners policy. FEMA also proposed changes in the coverage. On October 12...: FEMA-2010-0021] RIN 1660-AA70 National Flood Insurance Program, Policy Wording Correction AGENCY... Insurance and Mitigation Administration, Standard Flood Insurance Policy regulations. In order to increase...

  2. 46 CFR 308.107 - War risk hull insurance policy.


    ... 46 Shipping 8 2010-10-01 2010-10-01 false War risk hull insurance policy. 308.107 Section 308.107 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS WAR RISK INSURANCE War Risk Hull and Disbursements Insurance § 308.107 War risk hull insurance policy. Standard Form MA-240...

  3. 75 FR 45563 - Terrorism Risk Insurance Program; Final Netting


    ... DEPARTMENT OF THE TREASURY 31 CFR Part 50 RIN 1505-AC24 Terrorism Risk Insurance Program; Final... Title I of the Terrorism Risk Insurance Act of 2002 (``TRIA'' or ``the Act''), as amended by the Terrorism Risk Insurance Extension Act of 2005 (``Extension Act'') and the Terrorism Risk Insurance Program...

  4. 7 CFR 764.108 - General insurance requirements.


    ... covered by hazard insurance if it is readily available (sold by insurance agents in the applicant's normal... for the insurance indemnity payment or as a beneficiary in the mortgagee loss payable clause. (b) Real estate security located in flood or mudslide prone areas must be covered by flood or mudslide insurance...

  5. 7 CFR 457.166 - Blueberry crop insurance provisions.


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

  6. 44 CFR 61.17 - Group Flood Insurance Policy.


    ... U.S.C. 5174) of an Individuals and Households Program (IHP) award for flood damage as a result of... flood-damage losses sustained by the insured property in the course of any subsequent flooding event..., DEPARTMENT OF HOMELAND SECURITY INSURANCE AND HAZARD MITIGATION National Flood Insurance Program INSURANCE...

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

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


    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…

  8. 46 CFR 308.303 - Amounts insured under interim binder.


    ... 308.303 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS WAR RISK INSURANCE Second Seamen's War Risk Insurance § 308.303 Amounts insured under interim binder. The amounts insured are the amounts specified in the Second Seamen's War Risk Policy (1955) or as modified by shipping...

  9. 75 FR 80678 - Conversions of Insured Credit Unions


    ... final rule with request for comments. SUMMARY: NCUA is issuing final amendments to revise the definition... Credit Union Share Insurance Fund (NCUSIF) share insurance to nonfederal share insurance in 12 CFR part...-credit union mergers and terminations of NCUSIF share insurance and conversions from NCUSIF share...

  10. 12 CFR 740.3 - Advertising of excess insurance.


    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Advertising of excess insurance. 740.3 Section... ACCURACY OF ADVERTISING AND NOTICE OF INSURED STATUS § 740.3 Advertising of excess insurance. Any advertising that mentions share or savings account insurance provided by a party other than the NCUA must...

  11. On 1-convexity and nucleolus of co-insurance games

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


    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

  12. On 1-convexity and nucleolus of co-insurance games

    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

  13. Customer Apathy to Insurance in Nigeria: Survey Results ...

    Results of a recent survey of the Nigerian Insurance Industry reveal the underlying reasons for people's general indifference towards insurance. These include lack of communication by the industry, ignorance about insurance, doubts as to the integrity of insurance practitioners, and inability to afford the premium.

  14. 7 CFR 457.123 - Almond crop insurance provisions.


    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Almond crop insurance provisions. 457.123 Section 457... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.123 Almond crop insurance provisions. The Almond Crop Insurance Provisions for the 2008 and succeeding crop years are as follows: FCIC...

  15. 7 CFR 457.162 - Nursery crop insurance provisions.


    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Nursery crop insurance provisions. 457.162 Section 457... CORPORATION, DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.162 Nursery crop insurance provisions. The Nursery Crop Insurance Provisions for the 2006 and succeeding crop years are as follows: FCIC...


    О. Klepikova


    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.

  17. 42 CFR 403.220 - Supplemental Health Insurance Panel.


    ... 42 Public Health 2 2010-10-01 2010-10-01 false Supplemental Health Insurance Panel. 403.220... Programs § 403.220 Supplemental Health Insurance Panel. (a) Membership. The Supplemental Health Insurance... determines whether or not a State regulatory program for Medicare supplemental health insurance policies...

  18. The Swedish national dental insurance and dental health care policy

    Moore, Rod


    Sweden initiated a dental health care insurance in 1973. The health insurance is outlined, current problems and political issues are described. The benefits and limitations are described.......Sweden initiated a dental health care insurance in 1973. The health insurance is outlined, current problems and political issues are described. The benefits and limitations are described....

  19. 76 FR 34985 - Farm Credit System Insurance Corporation Board Meeting


    ... FARM CREDIT SYSTEM INSURANCE CORPORATION Farm Credit System Insurance Corporation Board Meeting AGENCY: Farm Credit System Insurance Corporation. SUMMARY: Notice is hereby given of the regular meeting of the Farm Credit System Insurance Corporation Board (Board). Date and Time: The meeting of the...

  20. 24 CFR 266.604 - Mortgage insurance premium: Other requirements.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Other... Contract Rights and Obligations Mortgage Insurance Premiums § 266.604 Mortgage insurance premium: Other..., based upon the respective share of risk, that is to be used in calculating mortgage insurance premiums...

  1. 31 CFR 337.13 - Payment of mortgage insurance premiums.


    ... insurance premiums. When book-entry debentures are being purchased prior to maturity to pay for mortgage insurance premiums, the difference between the amount of the debentures purchased and the mortgage insurance... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Payment of mortgage insurance...

  2. 24 CFR 221.254 - Mortgage insurance premiums.


    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 221... Cost Homes § 221.254 Mortgage insurance premiums. (a) All of the provisions of §§ 203.260 through 203.295 of this chapter relating to mortgage insurance premiums shall apply to mortgages insured under...

  3. 24 CFR 206.102 - General Insurance Fund.


    ... Insurance Fund. [60 FR 42761, Aug. 16, 1995] Mortgage Insurance Premiums ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false General Insurance Fund. 206.102... URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES...


    Serghei Margulescu


    Full Text Available With economic losses of over USD 370 bn caused by 325 catastrophic events, 2011 ranks as the worst ever year in terms of costs to society due to natural catastrophes and man-made disasters. Inthe same time, 2011 is the second most expensive year in the history for the insurance industry, with insured losses from catastrophic events amounting to USD 116 bn. Both the high level of damages and insured losses, as well as the unprecedented gap between the two values, made insurers and reinsurers worldwide to understand that some risks had so far been underestimated and they have to be better integrated in the catastrophes modelling.On the other hand, governments have to protect themselves against the financial impact of natural catastrophes and new forms of cooperation between the public and private sectors can help countries finance disaster risks. Viewed in a country’s wider risk management context, the purchase of parametric insurance cover, which transfers natural catastrophe risk to the private sector using an index- based trigger, is a necessary shift towards a pre-emptive risk management strategy. This kind of approach can be pursued by central governments or at the level of provincial or municipal governments, and a number of case studies included in the publication “Closing the financial gap” by Swiss Re (2011 illustrates how new forms of parametric insurance can help countries finance disaster risks.

  5. Social Insurance in Romania - Concern for Governors

    Manuela Panaitescu


    Full Text Available Objectives: the comparative research of the public and private insurance systems is important as itprovides financial benefits to the individuals who have lost their income due to their old age, along with theirdecreased labour ability caused by disabilities, disease, motherhood, work related accidents orunemployment, and the resulting benefits are conditioned by the due contributions; Prior Work: this workcontinues previous research conducted for the PhD thesis called “Improving Management in the Public andPrivate Insurance Systems in the Market Economy”; Approach: the main methods that have been used insurveys and observation of the population’s behaviour; Results: in order to reduce the financial restraints thatthe public insurance system has to cope with, the concrete implementation of a social insurance system basedon the needs and value scales of the Romanian state is necessary; Implications: academics and researchersinterested in the Romanian social insurance system management and its long run effects on the population;Value: the insurance systems determins the quality of life for most of the population and strongly influencethe economy, especially the labour market and the capital market. This is why social security is a commonchallenge for all European countries.

  6. Trade Credit Insurance and Asymmetric Information Problem

    Sokolovska Olena


    Full Text Available The presence of different risk factors in international trade gives evidence of the necessity of support in gaps that may affect exporters’ activity. To maximize the trade volumes and in the same time to minimize the exporters’ risks the stakeholders use trade credit insurance. The paper provides analysis of conceptual background of the trade credit insurance in the world. We analyzed briefly the problems, arising in insurance markets due to asymmetric information, such as adverse selection and moral hazard. Also we discuss the main stages of development of trade credit insurance in countries worldwide. Using comparative and graphical analysis we provide a brief evaluation of the dynamics of claims and recoveries for different forms of trade credit insurance. We found that the claims related to the commercial risk for medium and long trade credits in recent years exceed the recoveries, while with the political risk the reverse trend holds. And we originally consider these findings in terms of information asymmetry in the trade credit insurance differentiated by type of risk.


    Ciumas Cristina


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

  8. Nuclear power plant insurance - experience and loss statistics

    Feldmann, J.; Dangelmaier, P.


    Nuclear power plants are treated separately when concluding insurance contracts. National insurance pools have been established in industrial countries, co-operating on an international basis, for insuring a nuclear power plant. In combined property insurance, the nuclear risk is combined with the fire risk. In addition, there are the engineering insurances. Of these, the one of significance for nuclear power plants is the machinery insurance, which can be covered on the free insurance market. Nuclear power plants have had fewer instances of damage than other, conventional installations. (orig.) [de

  9. Nuclear insurance and third-party liability. An overview

    Rashid, Nahrul Khair


    As for any other insurance policy, nuclear insurance involves two parties, the insurer and the insured. The coverage provided for can be against any misfortune or peril; material or physical losses, financial losses, third party liability or even the insured himself as in the case of life or personal insurance. In property and liability insurance, the element of certainty does not exist. Accidents cannot be predicted, the insured will only be able to financially recover the present worth of the property insured as evaluated at the time of the accident and to the extent of the damage arising from the event insured against, which in most cases will be lower than the full value of the property.


    О. Zaletov


    Full Text Available In the article the essence of investment insurance company. The role and importance of investment of insurance companies on formation of investment resources in the economy. The essence of the definition of "investment potential of insurance companies" and its relationship with the definition of "financial strength of insurance companies' insurance and potential insurance companies." By analyzing the structure and dynamics of aggregate investment portfolio of insurance organizations of Ukraine in 2008-2015 years defined contribution insurance sector in the formation of investment resources. The problems and prospects of the investment potential of the insurance market of Ukraine. Directions of improvement of state regulation of investment of insurance companies in Ukraine.

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

    Hartnedy, J A


    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.

  12. 12 CFR 741.208 - Mergers of federally insured credit unions: voluntary termination or conversion of insured status.


    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Mergers of federally insured credit unions... Insured State-Chartered Credit Unions § 741.208 Mergers of federally insured credit unions: voluntary... 708a and 708b of this chapter concerning mergers and voluntary termination or conversion of insured...

  13. 77 FR 47573 - Fees on Health Insurance Policies and Self-Insured Plans for the Patient-Centered Outcomes...


    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 40 and 46 [REG-136008-11] RIN 1545-BK59 Fees on Health Insurance Policies and Self-Insured Plans for the Patient-Centered Outcomes... on issuers of certain health insurance policies and plan sponsors of certain self-insured health...

  14. 77 FR 72721 - Fees on Health Insurance Policies and Self-Insured Plans for the Patient-Centered Outcomes...


    ... 1545-BK59 Fees on Health Insurance Policies and Self-Insured Plans for the Patient-Centered Outcomes... Patient Protection and Affordable Care Act on issuers of certain health insurance policies and plan... arrangements) or Rebecca L. Baxter at (202) 622-3970 (regarding health insurance policies). SUPPLEMENTARY...

  15. Geographic variation in health insurance benefit in Qianjiang District, China

    Ye, Ting; Wu, Yue; Zhang, Liang


    Background: Health insurance coverage is of great importance; yet, it is unclear whether there is some geographic variation in health insurance benefit for urban and rural patients covered by a same basic health insurance, especially in China.Objective: To identify the potential geographic variation in health insurance benefit and its possible socioeconomic and geographical factors at the town level.Methods: All the beneficiaries underthe health insurance who had the in-hospital experience in...

  16. The risks at nuclear power stations and their insurance

    Schludi, H.N.


    Insurance can offer an uninterrupted insurance cover from start-up-to shut-down of a nuclear power station. This is assured by the insurance for the erection, for the nuclear liability, for the nuclear/fire, for the engines, for operational interruptions and for the transport. For each of the above mentioned insurance branches, essential characteristic features, such as risk carrier, protection range and insurance costs, are given. (orig.) [de

  17. Financial and operational ratios for bond-insured hospitals.

    McCue, Michael J; McCluer, R Forrest


    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.

  18. The Emergence of Flood Insurance in Canada: Navigating Institutional Uncertainty.

    Thistlethwaite, Jason


    Flood insurance has remained unavailable in Canada based on an assessment that it lacks economic viability. In response to Canada's costliest flood event to date in 2013, the Canadian insurance industry has started to develop a framework to expand existing property insurance to cover flood damage. Research on flood insurance has overlooked why and how insurance systems transition to expand insurance coverage without evidence of economic viability. This article will address this gap through a case study on the emergence of flood insurance in Canada, and the approach to its expansion. Between 2013 and 2016, insurance industry officials representing over 60% of premiums collected in Canada were interviewed. These interviews revealed that flood insurance is being expanded in response to institutional pressure, specifically external stakeholder expectations that the insurance industry will adopt a stronger role in managing flood risk through coverage of flood damage. Further evidence of this finding is explored by assessing the emergence of a unique flood insurance model that involves a risk-adjusted and optional product along with an expansion of government policy supporting flood risk mitigation. This approach attempts to balance industry concerns about economic viability with institutional pressure to reduce flood risk through insurance. This analysis builds on existing research by providing the first scholarly analysis of flood insurance in Canada, important "empirical" teeth to existing conceptual analysis on the availability of flood insurance, and the influence of institutional factors on risk analysis within the insurance sector. © 2016 Society for Risk Analysis.

  19. Analysis of your professional liability insurance policy.



    The most important lessons for the physician to learn in regard to his professional liability insurance coverage are the following:1. The physician should carefully read his professional liability policy and should secure the educated aid of his attorney and his insurance broker, if they are conversant with this field.2. He should particularly read the definition of coverage and carefully survey the exclusion clauses which may deny him coverage under certain circumstances.3. If the physician is in partnership or in a group, he should be certain that he has contingent partnership coverage.4. The physician should accept coverage only from an insurance carrier of sufficient size and stability that he can be sure his coverage will be guaranteed for "latent liability" claims as the years go along-certainly for his lifetime.5. The insurance carrier offering the professional liability policy should be prepared to offer coverages up to at least $100,000/$300,000.6. The physician should be assured that the insurance carrier has claims-handling personnel and legal counsel who are experienced and expert in the professional liability field and who are locally available for service.7. The physician is best protected by a local or state group program, next best by a national group program, and last, by individual coverage.8. The physician should look with suspicion on a cancellation clause in which his policy may be summarily cancelled on brief notice.9. The physician should not buy professional liability insurance on the basis of price alone; adequacy of coverage and service and a good insurance company for his protection should be the deciding factors.

  20. 78 FR 58264 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access


    ... DEPARTMENT OF VETERANS AFFAIRS 38 CFR Part 9 RIN 2900-AO42 Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access AGENCY: Department of Veterans Affairs. ACTION: Proposed rule. SUMMARY: The Department of Veterans Affairs (VA) proposes to amend its regulations governing...

  1. 77 FR 60304 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance-Slayer's Rule Exclusion


    ... DEPARTMENT OF VETERANS AFFAIRS 38 CFR Part 9 RIN 2900-AN40 Servicemembers' Group Life Insurance and Veterans' Group Life Insurance--Slayer's Rule Exclusion AGENCY: Department of Veterans Affairs. ACTION: Final rule. SUMMARY: The Department of Veterans Affairs (VA) is amending its regulations...

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

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


    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.

  3. 75 FR 1548 - Insurer Reporting Requirements; List of Insurers Required To File Reports


    ... 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...

  4. 76 FR 5248 - Insurer Reporting Requirements; Annual Insurer Report on Motor Vehicle Theft for the 2005...


    ...] Insurer Reporting Requirements; Annual Insurer Report on Motor Vehicle Theft for the 2005 Reporting Year... on motor vehicle theft for the 2005 reporting year. Section 33112(h) of Title 49 of the U.S. Code... report provides information on theft and recovery of vehicles; rating rules and plans used by motor...

  5. Health Insurance Literacy: How People Understand and Make Health Insurance Purchase Decisions

    Vardell, Emily Johanna


    The concept of health insurance literacy, which can be defined as "the extent to which consumers can make informed purchase and use decisions" (Kim, Braun, & Williams, 2013, p. 3), has only recently become a focus of health literacy research. Though employees have been making health insurance decisions for many years, the Affordable…

  6. The spillover effects of health insurance benefit mandates on public insurance coverage: Evidence from veterans.

    Li, Xiaoxue; Ye, Jinqi


    This study examines how regulations in private health insurance markets affect coverage of public insurance. We focus on mental health parity laws, which mandate private health insurance to provide equal coverage for mental and physical health services. The implementation of mental health parity laws may improve a quality dimension of private health insurance but at increased costs. We graphically develop a conceptual framework and then empirically examine whether the regulations shift individuals from private to public insurance. We exploit state-by-year variation in policy implementation in 1999-2008 and focus on a sample of veterans, who have better access to public insurance than non-veterans. Using data from the Current Population Survey, we find that the parity laws reduce employer-sponsored insurance (ESI) coverage by 2.1% points. The drop in ESI is largely offset by enrollment gains in public insurance, namely through the Veterans Affairs (VA) benefit and Medicaid/Medicare programs. Copyright © 2017 Elsevier B.V. All rights reserved.

  7. Knowledge and attitude towards dental insurance and utilization of dental services among insured and uninsured patients: A cross-sectional study

    Radhika Maniyar


    Conclusion: Knowledge regarding dental insurance was poor in both groups, while the insured group showed a more positive attitude toward benefits of dental insurance. Utilization of dental services was seen more among insured group.

  8. Development of the Health Insurance Literacy Measure (HILM): Conceptualizing and Measuring Consumer Ability to Choose and Use Private Health Insurance

    Paez, Kathryn A.; Mallery, Coretta J.; Noel, HarmoniJoie; Pugliese, Christopher; McSorley, Veronica E.; Lucado, Jennifer L.; Ganachari, Deepa


    Understanding health insurance is central to affording and accessing health care in the United States. Efforts to support consumers in making wise purchasing decisions and using health insurance to their advantage would benefit from the development of a valid and reliable measure to assess health insurance literacy. This article reports on the development of the Health Insurance Literacy Measure (HILM), a self-assessment measure of consumers' ability to select and use private health insurance...

  9. Health Insurance – Affiliation to LAMal insurance for families of CERN personnel

    Staff Association


    On May 16, the HR department published in the CERN Bulletin an article concerning cross-border workers (“frontaliers”) and the exercise of the right of choice in health insurance: « In view of the Agreement concluded on 7 July 2016 between Switzerland and France regarding the choice of health insurance system* for persons resident in France and working in Switzerland ("frontaliers"), the Swiss authorities have indicated that those persons who have not “formally exercised their right to choose a health insurance system before 30 September 2017 risk automatically becoming members of the Swiss LAMal system” and having to “pay penalties to their insurers that may amount to several years’ worth of contributions”. Among others, this applies to spouses of members of the CERN personnel who live in France and work in Switzerland. » But the CERN Health Insurance Scheme (CHIS), provides insuranc...

  10. State insurance exchanges face challenges in offering standardized choices alongside innovative value-based insurance.

    Corlette, Sabrina; Downs, David; Monahan, Christine H; Yondorf, Barbara


    Value-based insurance is a relatively new approach to health insurance in which financial barriers, such as copayments, are lowered for clinical services that are considered high value, while consumer cost sharing may be increased for services considered to be of uncertain value. Such plans are complex and do not easily fit into the simplified, consumer-friendly comparison tools that many state health insurance exchanges are formulating for use in 2014. Nevertheless some states and plans are attempting to strike the right balance between a streamlined health exchange shopping experience and innovative, albeit complex, benefit design that promotes value. For example, agencies administering exchanges in Vermont and Oregon are contemplating offering value-based insurance plans as an option in addition to a set of standardized plans. In the postreform environment, policy makers must find ways to present complex value-based insurance plans in a way that consumers and employers can more readily understand.


    Stofor Ovidiu-Ilie


    Full Text Available Insurance system in Romania is carried out with a constant natural activity, evolving quite honorably these times. This is largely due to the difficulty with which insurance is sold in normal economic conditions when it comes to prosperity. Although psychologists, led by Maslow believes that the protection needs are basic needs, along with the physiological one, on the priority list regarding procurement, insurance needs are for some Romanians, of minimum or no importance, so that they are either pushed to the bottom of the list, or even, as it most often happens, they are non existent. Current economic conditions and climate, urges caution on most fields, especially in terms of individual properties, including, how somewhat forced, life and physical integrity which are still considered property, if this aspect is not debated in terms of Christian or other religious dogma. In other words, many Romanians see insurance as a product that “is not up their alley” including it in the luxury category. Furthermore, the media shows, sometimes amplify certain cases of doubt in relations between insurance company - customer. Appropriate marketing, allied with the information technology can improve the complete relationship between the two entities - the offeror and the consumer. Through this study we aim to identify important issues that facilitate the sale of insurance, using information technology, given that the sales of these financial products through the "ancestral" methods are effective but not very efficient. We will follow, byanchoring to the current reality, the insurance utility and how to use information technologies in support of marketing (sales. The study itself was done by observing the results in practical work, from an insurance agency, but also related to what the literature offers. Because this study is currently underway, there are certainly some limitations of accuracy of results, which are adjusted "on the fly". Realizing

  12. Agricultural insurance under the Solvency II Directive

    Njegomir Vladimir


    Full Text Available Solvency II Directive represents a new framework of unique solvency regulation of insurance and reinsurance companies in the European Union. Although it has not yet been implemented in national legislations, it can be concluded, based on the directive wording and conducted quantitative studies, that it will have implications on agricultural producers since they are the users of insurance services. The aim of the research presented in this paper is to analyse the implications of the new directive to agricultural producers since they are the insureds and the main actors of agribusiness. Firstly, the paper gives an overview of the basic features of the new regulatory framework and then it points at the issues and the needs for intensive application of Directive in order to improve the insurance business in Serbia. The process will direct the settlement of major claims, the ones that are typical of catastrophic risks in agriculture, towards the insurance, while the expectations from the government will be directed towards the regulation of the setting and economic measures (development and investment subsidies, cooperative movement. In addition, the paper points at the demands of the new regulation and analyses the implications of the new regulation regarding the settlement of claims resulting from major flood since it represents the example that proves the basic postulate.

  13. UK nuclear terrorism insurance arrangements: an overview

    Tetley, M. G.


    The risk of terrorism in the UK is not new, but since the New York World Trade Centre attacks in 2001, the potential scale of any terrorist attack has required a considerable reassessment. With UK foreign policy closely aligned to that of the USA, the UK security services now consider it is simply a matter of when and no longer if the UK is attacked. For insurers of any type this fact would cause concern; for insurers involved in high profile and potentially catastrophic loss targets such as nuclear power plants, any attack could have a severe impact on solvency and shareholder's funds. This paper's objective is to describe the terrorism insurance arrangements put in place in the U.K. both before and after the September 2001 attacks. These arrangements have been designed both to safeguard insurers' solvency and to ensure that the nuclear industry and general public can continue to be reassured by the availability of insurance should an attack ever occur.(author)

  14. Private dental insurance expenditure in Brazil

    Cascaes, Andreia Morales; de Camargo, Maria Beatriz Junqueira; de Castilhos, Eduardo Dickie; Silva, lexandre Emídio Ribeiro; Barros, Aluísio J D


    ABSTRACT OBJECTIVE To quantify the household expenditure per capita and to estimate the percentage of Brazilian households that have spent with dental insurance. METHODS We analyzed data from 55,970 households that participated in the research Pesquisa de Orçamentos Familiares in 2008–2009. We have analyzed the annual household expenditure per capita with dental insurance (business and private) according to the Brazilian states and the socioeconomic and demographic characteristics of the households (sex, age, race, and educational level of the head of the household, family income, and presence of an older adult in the household). RESULTS Only 2.5% of Brazilian households have reported spending on dental insurance. The amount spent per capita amounted to R$5.10 on average, most of which consisted of private dental insurance (R$4.70). Among the characteristics of the household, higher educational level and income were associated with higher spending. São Paulo was the state with the highest household expenditure per capita (R$10.90) and with the highest prevalence of households with expenditures (4.6%), while Amazonas and Tocantins had the lowest values, in which both spent less than R$1.00 and had a prevalence of less than 0.1% of households, respectively. CONCLUSIONS Only a small portion of the Brazilian households has dental insurance expenditure. The market for supplementary dentistry in oral health care covers a restricted portion of the Brazilian population. PMID:29489995

  15. [Risk assessment expanded accident insurance for children].

    Sittaro, N A


    Disability is a well known and tragic event for children. While adults are an established group for specific disability insurance cover, children were often neglected in the past. Although parents, organizations and paediatricans are aware of the risk, children specific incidence rates for disability are hardly available. The only sufficient source for some statistical data are the accident statistics because they represent a substantial group of specific cause related disability for children. Incidence rates for disease related chronic severe impairment or disability in children are either derived by single disease research or actuarial calculation of the German Social Disability Registration. Based on this statistical background, an extended accident insurance for children was introduced in Germany covering both accidents and disabling diseases. The key limitation for all variations of this insurance are exclusion clauses for congential diseases and mental disorders. This insurance requires a new approach in underwriting of the health risks. Because of the substantial number of impaired children, a simple decline of substandard cases are unacceptable. The early experience or medical underwriting shows predominantly health impairments of the following types: allergies, bronchial asthma, ectopic eczema (neurodermitis), disorders of speech and articulation, vision disorders and mental impairments. The suggested solution for underwriting of substandard risks is the predetermination of the possible future maximum degree of disability. The need for underwriting guidelines is supported by the market impact of the new disability cover with thousands of insurance policies issued in the first month after introduction.

  16. Financial risk protection from social health insurance.

    Barnes, Kayleigh; Mukherji, Arnab; Mullen, Patrick; Sood, Neeraj


    This paper estimates the impact of social health insurance on financial risk by utilizing data from a natural experiment created by the phased roll-out of a social health insurance program for the poor in India. We estimate the distributional impact of insurance on of out-of-pocket costs and incorporate these results with a stylized expected utility model to compute associated welfare effects. We adjust the standard model, accounting for conditions of developing countries by incorporating consumption floors, informal borrowing, and asset selling which allow us to separate the value of financial risk reduction from consumption smoothing and asset protection. Results show that insurance reduces out-of-pocket costs, particularly in higher quantiles of the distribution. We find reductions in the frequency and amount of money borrowed for health reasons. Finally, we find that the value of financial risk reduction outweighs total per household costs of the insurance program by two to five times. Copyright © 2017. Published by Elsevier B.V.

  17. Insurance Sector and Climate Changes in Serbia

    Tatjana Piljan


    Full Text Available Climate changes have a strong negative impact on the insurance sector, which is reflected in the slow development of the insurance sector and in the transfer of the greater part of risk on the state and individuals. The difference between collected and paid premiums on the basis of incurred losses is rapidly decreasing, which leads to the fact that insurance market is less and less capable of absorbing the losses associated with climate changes, which then has negative repercussions on the availability of insurance services at an affordable premium. The question of establishing potential long and short-term effects of climate changes on business activities of insurance and reinsurance companies represents a priority and its ultimate objective is to find ways to minimize risks and losses. The problem of climate changes represents an important social problem in today’s civilization. At the same time, it is also an ecological problem, but also economic, political, social, cultural, health, etc. It is a global ecological problem, hence we can speak about global climate changes which affect states, nations, continents regardless of where they are and how responsible they are for creating and sustaining these changes.

  18. Life Insurance and Individual Pension System

    İbrahim PAÇACI


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

  19. Factors affecting the insurance sector development: Evidence from Albania

    Eglantina Zyka


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

  20. Pricing unit-linked insurance with guaranteed benefit

    Iqbal, M.; Novkaniza, F.; Novita, M.


    Unit-linked insurance is an investment-linked insurance, that is, the given benefit is the premium investment out-come. Recently, the most widely marketed insurance in the industry is unit-linked insurance with guaranteed benefit. With guaranteed benefit applied, the insurance benefits form is similar to the payoff form of European call option. Thereby, pricing European call option is involved in pricing unit-linked insurance with guaranteed benefit. The dynamics of investment outcome is assumed to follow stochastic interest rate. Hence, change of measure methods is used in pricing unit-linked insurance. The discount factor with stochastic interest rate needs to be modified as well to be zero coupon bond price. Eventually, the insurance premium is calculated by equivalence principle with guaranteed benefit and insurance period explicitly given.

  1. Handbook of international insurance between global dynamics and local contingencies

    Venard, Bertrand


    THE HANDBOOK OF INTERNATIONAL INSURANCE Gordon Stewart, President, Insurance Information Institute, New York, USA "The globalization of insurance markets means that understanding both international developments and local trends around the world is now fundamental for insurance executives coping with today’s complex and competitive environment. By providing such a comprehensive picture of the world’s insurance markets, this unique and necessary book becomes an essential tool for anyone seeking to operate wisely and successfully. Richard D. Phillips, Professor and Chairman, Department of Risk Management and Insurance, Georgia State University, Atlanta, USA "Comprehensive surveys, written by international experts, provide in depth descriptions and discuss recent developments of the world’s major insurance markets. Each chapter contains essential insights for insurance executives and academic researchers interested in risk management and the globalization of insurance markets." Patrick Liedtke, Secretary Ge...


    О. Lobova


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

  3. 26 CFR 1.821-4 - Tax on mutual insurance companies other than life insurance companies and other than fire, flood...


    ... life insurance companies and other than fire, flood, or marine insurance companies, subject to tax... Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which... other than life insurance companies and other than fire, flood, or marine insurance companies, subject...

  4. Deflation Risk and Implications for Life Insurers

    Jean-François Bégin


    Full Text Available Life insurers are exposed to deflation risk: falling prices could lead to insufficient investment returns, and inflation-indexed protections could make insurers vulnerable to deflation. In this spirit, this paper proposes a market-based methodology for measuring deflation risk based on a discrete framework: the latter accounts for the real interest rate, the inflation index level, its conditional variance, and the expected inflation rate. US inflation data are then used to estimate the model and show the importance of deflation risk. Specifically, the distribution of a fictitious life insurer’s future payments is investigated. We find that the proposed inflation model yields higher risk measures than the ones obtained using competing models, stressing the need for dynamic and market-consistent inflation modelling in the life insurance industry.

  5. Finance, providers issue brief: insurer liability.

    Rothouse, M; Stauffer, M


    When a health plan denies payment for a procedure on grounds that it is not medically necessary or when it refuses a physician-ordered referral to a specialist, has it crossed the line from making an insurance judgment to practicing medicine? If the patient suffers harm as a result of the decision, is the plan liable for medical malpractice? Those were questions 35 states considered in 1999, and at least 32 states are grappling with this year as they seek to respond to physician and patient pressure to curb the power of the managed care industry. Traditionally, health insurers have been protected by state laws banning "the corporate practice of medicine," which means the patient's only recourse is to sue under a "vicarious liability" theory. Now, however, lawmakers are debating legislation to extend the scope of malpractice liability beyond individual practitioners to insurance carriers and plans themselves.

  6. Preferences and design in insurance and pensions

    Bruhn, Kenneth

    is on the relation between household preferences and the related optimal product design. Optimal decisions of a household are considered in continuous-time stochastic control theory models. Within a standard expected utility framework we investigate the eects of dierences between household members as well as tax......Life insurance and pension decisions are of the more important fnancial settlements to be decided in a household. In this thesis we investigate dfferent aspects of relevance for decision making within a household, especially focusing on life insurance and pension decisions. The focus......-effects. The focus is on the consumption, investment and life insurance demands. In another modeling framework, we modify the utility measurement and propose a combination of forward and backward looking preferences. At last, a model with very explicit preferences for stability in consumption is investigated and we...


    Petrescu Marian


    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

  8. Insurance Accounts: The Cultural Logics of Health Care Financing.

    Mulligan, Jessica


    The financial exuberance that eventually culminated in the recent world economic crisis also ushered in dramatic shifts in how health care is financed, administered, and imagined. Drawing on research conducted in the mid-2000s at a health insurance company in Puerto Rico, this article shows how health care has been financialized in many ways that include: (1) privatizing public services; (2) engineering new insurance products like high deductible plans and health savings accounts; (3) applying financial techniques to premium payments to yield maximum profitability; (4) a managerial focus on shareholder value; and (5) prioritizing mergers and financial speculation. The article argues that financial techniques obfuscate how much health care costs, foster widespread gaming of reimbursement systems that drives up prices, and "unpool" risk by devolving financial and moral responsibility for health care onto individual consumers. © 2015 by the American Anthropological Association.


    Melnyk Olga


    Full Text Available Introduction. Modern insurance companies provide the formation of effective market mechanisms for attracting investment resources to the national economy through the effective functioning of the insurance market with the use of modern market infrastructure and financial instruments. In Ukraine, the insurance market has a significant development potential, which requires, first of all, a detailed assessment of all available opportunities for balanced development in the context of European integration processes. Therefore, the identification and analysis of modern trends in the development of the insurance market are relevant today from theoretical and practical points of view. The purpose of the study is to analyze the current state of the insurance market in Ukraine and determine the factors affecting the effectiveness of its activities. Results. It was defined that the insurance market is the second largest in terms of capitalization among other non-bank financial markets in Ukraine. The tendencies of changes in the main indicators of the insurance market activity, in particular regarding the number of concluded insurance contracts, insurance premiums and insurance payments, reinsurance, insurance reserves, insurers’ assets and authorized capital, were investigated. It was found that the increase in gross insurance premiums was made for almost all types of insurance, and the increase of gross insurance premiums was mainly due to auto insurance, medical insurance and financial risk insurance. Nowadays, the level of insurance penetration in Ukraine is still low. However, according to the Comprehensive Program for the Development of the Financial Sector of Ukraine, a gradual increase of this indicator is planned. Conclusions. The conducted studies indicate that the insurance market of Ukraine is at the stage of formation, gradually adapting to the requirements of European and world markets. In order to improve the situation, domestic insurers

  10. Making decisions about liability and insurance a special issue of the journal of risk and uncertainty

    Kunreuther, Howard


    Two related trends have created novel challenges for managing risk in the United States. The first trend is a series of dramatic changes in liability law as tort law has expanded to assign liability to defendants for reasons other than negligence. The unpredictability of future costs induced by changes in tort law may be partly responsible for the second major trend known as the `liability crisis' - the disappearance of liability protection in markets for particularly unpredictable risks. This book examines decisions people make about insurance and liability. An understanding of such decision making may help explain why the insurance crisis resulted from the new interpretations of tort law and what to do about it. The articles cover three kinds of decisions: consumer decisions to purchase insurance; insurer decisions about coverage they offer; and the decisions of the public about the liability rules they prefer, which are reflected in legislation and regulation. For each of these three kinds of decisions, no...

  11. Asset Liability Management in Insurance Company

    Giandomenico, Rossano


    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...

  12. Willingness to Pay for Insurance in Denmark

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


    Danish population, and information on household income and wealth from registers at Statistics Denmark. The results show that the willingness to pay is marginally higher than the actuarially fair value under expected utility theory, but significantly higher under rank-dependent utility theory, and up......We estimate how much Danish households are willing to pay for auto, home, and house insurance. We use a unique combination of claims data from a large Danish insurance company, measures of individual risk attitudes and discount rates from a field experiment with a representative sample of the adult...

  13. Romanian Insurance Market Facing Globalization Process

    Dumitru G. Badea


    Full Text Available The Romanian insurance market has passed through a permanent process of growth which ended up in 2004 to exceed the threshold of 1 billion Euros, in the frame of a small awareness and confidence of the population towards insurance, even now after 15 years. The globalization process of the financial markets affected also the Romanian market even before Romania became member of the European Union. The globalization brought about benefits (especially under the form of increase in the quality of the services provided to clients but also disadvantages for local companies (significant costs in logistics and training in order to cope with the international groups.

  14. Uncertain knowledge: Climate measures as insurance?

    Dahle, Oeystein


    Experience from the insurance sector and from work on health, environment and safety may be a useful starting point for the discussion about climate measures. Approaching the subject through risk analyses and a comprehension of risk based on knowledge may probably offer the best foundation for political guidelines. It may even be that the difference in cost between energy systems based on fossil energy carriers and renewable ones may be conceived of as a reasonable insurance premium associated with the risk of anthropogenic climate destabilization

  15. General report of the Insurance Study Committee


    This general report gives the main objectives which the Insurance Study Committee intends to follow, an overview of the work undertaken from 1985-1988 and some points that the Committee considers its duty to underline, propose or recommend in the field of risk management. It concludes with the report of the Group of Experts on Third Party Liability and Nuclear Insurance, set up in 1986 to study and prepare the position to be taken by UNIPEDE on nuclear third party liability matters at the Group of Governmental Experts on Nuclear Third Party Liability and at the IAEA Standing Committee on Civil Liability for Nuclear Damage [fr

  16. Price-Anderson Act and nuclear insurance

    Long, J.D.; Long, D.P.


    The nuclear incident at Three Mile Island has served to intensify debate about elimination of the federal limit on liability of utilities (and others) for operation of private nuclear reactions and about elimination of possible federal indemnification of utilities (or others) for claims paid in nuclear incidents. Not all those who debate these issues appear to be fully informed about the present nuclear liability and insurance system. This paper provides a brief description of the Price-Anderson Act, as amended, and of the operation of the nuclear insurance pools. It also includes a comment on the recent federal district court award against the Kerr-McGee Corporation

  17. Facilitating Consumer Learning in Insurance Markets

    Lagerlöf, Johan N. M.; Schottmüller, Christoph


    We model a monopoly insurance market where consumers can learn their accident risks at a cost c. We then ask: What are the welfare effects of a policy that reduces c? If c is sufficiently small (c consumer gathers information. For c ... and consumer benefit from a policy that reduces c further. For c > c*, marginally reducing c hurts the insurer and weakly benefits the consumer. Finally, a reduction in c that is “successful,” meaning that the consumer gathers information after the reduction but not before it, can hurt both parties....

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

    Baranes, Edmond; Bardey, David


    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.

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

    Ivančević Katarina


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

  20. An Improved Distortion Operator for Insurance Risks

    GAO Jian-wei; QIU Wan-hua


    This paper reviews the distortion function approach developed in the actuarial literature for insurance risks. The main aim of this paper is to derive an extensive distortion operator, and to propose a new premium principle based on this extensive distortion operator. Furthermore, the non-robustness of general distortion operator is also discussed. Examples are provided using Bernoulli, Pareto, Lognormal and Gamma distribution assumptions.

  1. On a Stochastic Model in Insurance

    day is considered a part of applied probability theory, and a major portion ... claims that arrive in an insurance business, and decide ... Study of probability of ruin and obtaining ...... An important development of late is to consider claim sizes that ...

  2. Premium indexing in lifelong health insurance

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


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

  3. The Gendered Consequences of Unemployment Insurance Reforms

    Mooi-Reci, Irma; Mills, Melinda


    This study examines whether a series of unemployment insurance benefit reforms that took place over a 20-year period in the Netherlands had a gendered effect on the duration of unemployment and labor market outcomes. Using longitudinal data from the Dutch Labor Supply Panel (OSA) over the period 1980-2000, and adopting a quasi-experimental design,…

  4. The Gendered Consequences of Unemployment Insurance Reforms

    Mooi-Reci, Irma; Mills, Melinda


    This study examines whether a series of unemployment insurance benefit reforms that took place over a 20-year period in the Netherlands had a gendered effect on the duration of unemployment and labor market outcomes. Using longitudinal data from the Dutch Labor Supply Panel (OSA) over the period

  5. How to reduce your fire insurance rates

    Dubain, M.


    Construction procedures and utilization of materials to reduce the cost of insuring large buildings against losses from fire are discussed. Examples of good and bad techniques in building construction and fire safety management are provided. The inadequacies of building codes and the hazards resulting from improper construction are examined.

  6. Links between communication strategies and personal insurance ...

    A communication strategy plays a crucial role in understanding these conceptions and effecting the desired change. Hence there is need for insurance sales agents and employees to be properly trained and well equipped with product knowledge and the necessary communication skills to put this knowledge across.

  7. Regulating Consumer Demand in Insurance Markets

    D. Schwarcz (Daniel)


    textabstractIn recent years, it has become increasingly clear that Expected Utility Theory (EUT) is a remarkably poor theory of how and why individuals purchase insurance. However, the normative implications of this conclusion have remained largely unexplored. This Article takes up this issue. It


    Irina P. Khominitch


    Full Text Available The article considers the current compensationand guarantee mechanisms of policyholders’protection in the context of reforms inregulation and supervision of insurancecompanies. Models and fi nancing sourcesof insurance services consumer protectionfunds, their features in different countries as well as order and size of compensationpayments are identified in this article.

  9. Perception of Innovative Crop Insurance in Australia

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


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

  10. 77 FR 11191 - Insurance Cost Information Regulation


    ... INFORMATION CONTACT: Ms. Carlita Ballard, Office of International Policy, Fuel Economy and Consumer Programs... distribute to prospective customers information that compares differences in insurance costs of different... of the 2012 booklet to each dealer that the Department of Energy uses to distribute the ``Gas Mileage...

  11. 76 FR 6516 - Insurance Cost Information Regulation


    ..., Office of International Policy, Fuel Economy and Consumer Programs, NHTSA, 1200 New Jersey Avenue, SE... automobiles to distribute to prospective customers information that compares differences in insurance costs of... booklet to each dealer that the Department of Energy uses to distribute the ``Gas Mileage Guide.'' Dealers...

  12. 75 FR 5169 - Insurance Cost Information Regulation


    ..., Office of International Policy, Fuel Economy and Consumer Programs, NHTSA, 1200 New Jersey Avenue, SE... automobiles to distribute to prospective customers information that compares differences in insurance costs of... booklet to each dealer that the Department of Energy uses to distribute the ``Gas Mileage Guide.'' Dealers...

  13. Optimal unemployment insurance with monitoring and sanctions

    Boone, J.; Fredriksson, P.; Holmlund, B.; van Ours, J.C.


    This article analyses the design of optimal unemployment insurance in a search equilibrium framework where search effort among the unemployed is not perfectly observable. We examine to what extent the optimal policy involves monitoring of search effort and benefit sanctions if observed search is

  14. Losses on Dutch residential mortgage insurances

    Francke, M.K.; Schilder, F.P.W.


    Purpose - This paper aims to study the data on losses on mortgage insurance in the Dutch housing market to find the key drivers of the probability of loss. In 2013, 25 per cent of all Dutch homeowners were "under water": selling the property will not cover the outstanding mortgage debt. The

  15. 77 FR 16453 - Student Health Insurance Coverage


    ... eliminating annual and lifetime dollar limits would result in dramatic premium hikes for student plans and.... Industry and university commenters noted that student health insurance coverage benefits typically... duplication of benefits and makes student plans more affordable. Industry commenters noted that student health...

  16. Knightian uncertainty and insurance regulation decision

    Chen, A.; Su, X.


    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

  17. Nuclear liabilities - nuclear insurance. Pt. 1

    Roesch, H.


    Too much emotion is involved in the topic of nuclear energy. This is often due to the fact that the persons involved lack of essential basic knowledge. This article and the following ones represent an attempt to offer a technically oriented introduction into the physical preconditions of the problems and the questions concerning matters of liability and insurance. (orig.) [de

  18. Optimal Capital Structure for Insurance Companies

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


    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

  19. Community-based health insurance knowledge, concern ...

    Community-based health insurance knowledge, concern, preferences, and financial planning for health care among informal sector workers in a health district of Douala, Cameroon. ... This is mainly due to the lack of awareness and limited knowledge on the basic concepts of a CBHI by this target population. Solidarity ...

  20. 76 FR 30250 - Share Insurance and Appendix


    ...-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) \\1\\ provides that, on a temporary... the time of failure. For example, if pursuant to an agreement between an insured credit union and its... unions would retain flexibility regarding the form of the notice. Therefore, in conjunction with...