WorldWideScience

Sample records for insurance industry antitrust

  1. How Federal Antitrust Principles Would Impact the Insurance Ratemaking Function

    OpenAIRE

    Youssef I. Kouatly; Iskander S. Hamwi

    1992-01-01

    This study focuses on basic federal antitrust principles and their potential impact on property and liability insurance ratemaking. The authors believe that, in view of the growing debate around the issue of repeal or amendment of the McCarran Act, it has become necessary to focus more fully on the impact of such a potential change in the antitrust exemption accorded the business of insurance under the Act. In addition to ratemaking technicalities, state legislatures and regulators should be ...

  2. Antitrust issues and the restructuring of the power industry

    International Nuclear Information System (INIS)

    Moritz, T.F.

    1999-01-01

    Because of extensive federal oversight and state regulation of the utility area, few antitrust cases have been brought concerning the electric power industry. The limited prior case law that exists in this area nonetheless provides valuable guidance regarding how the antitrust laws will protect consumers and, therefore, competition in the electric power industry. This article will discuss the primary antitrust doctrines likely to be utilized to protect competition in this industry

  3. Beyond Antitrust: Health Care And Health Insurance Market Trends And The Future Of Competition.

    Science.gov (United States)

    Glied, Sherry A; Altman, Stuart H

    2017-09-01

    The United States relies on competition to balance costs and quality in the health care system. But concentration is increasing throughout the hospital, physician, and insurer markets. Midsize community hospitals face declining demand and growing competition from both larger hospitals and smaller freestanding diagnostic and surgical centers, leaving the midsize hospitals vulnerable to closure or merger with other facilities. Competition among insurers has been limited by the development of hospital systems that extend the bargaining power of "must-have" hospitals (those perceived to provide the best care for complex and less common conditions) across local health care markets. Government antitrust enforcement could play an important role in maintaining competition in both the hospital and insurer markets, but in many markets, the impact of that enforcement has been limited to date. Policy makers should consider supplementing antitrust activities with strategies that combine competition and regulation-for example, by regulating selected prices and structuring competition to cover entire insurance markets. Project HOPE—The People-to-People Health Foundation, Inc.

  4. Analysis of antitrust activity in the coal industry: 1964-1974

    Energy Technology Data Exchange (ETDEWEB)

    Hinson, W.R.

    1975-01-01

    Antitrust activity in the coal industry from 1964 to 1974 is studied for two major areas: 1) acquisitions and mergers, which involve the structure of the industry; and 2) price fixing, bid rigging, and customer allocations, which deal with the behavior of the industry. The government is criticized for the lack of antitrust activity during this time period. Offences of the antitrust laws by suppliers of fuel could have a chain-reaction effect on all commodity prices, because artificially high fuel prices could force other industries to increase their prices. Several recommendations are made: 1) a special section in both the Justice Department and the Federal Trade Commission should be established to handle violations of the antitrust laws occurring in the ''energy market''; 2) nolo contendere pleas and other forms of a consent settlement should be denied as an option for any energy concern accused of transgressing the antitrust laws; 3) all known coal reserves in the U.S. should be rationalized and placed under the supervision of the Federal Energy Administration; 4) a National reporting system for the ownership of coal reserves should be established; and 5) public regulatory commissions should be encouraged to order electric utilities to file private suits when anti-competitive conduct is suspected by coal suppliers. (26 references) (BYB)

  5. Antitrust concerns in the modern public utility environment

    International Nuclear Information System (INIS)

    Meeks, J.E.

    1996-04-01

    Direct regulation of public utility activity and behavior has been the predominant approach to protect the public interest in this country. Changes in technology, as well as new thinking about the optimum role of regulation, have created a changing atmosphere in all of the traditional public utility industries. Competitive markets for many of the products and services in these industries have been developing. While monopoly power will continue to exist in certain parts of these industries and require direct regulation, in many areas a growing reliance upon competition as the best method of serving the public interest is developing. With this shift in emphasis from regulation to free markets, the antitrust laws take on new importance for these industries. In the absence of direct regulator control, those laws are society's primary method of insuring the markets necessary to make competition an effective device for protecting the public interest. This study provides an overview of the antitrust laws, briefly describes the applicable theoretical underpinnings, and then turns to areas where public utility activity may pose special problems or conflicts with prevailing antitrust policy

  6. Antitrust concerns in the modern public utility environment

    Energy Technology Data Exchange (ETDEWEB)

    Meeks, J.E. [Ohio State Univ., Columbus, OH (United States). Coll. of Law

    1996-04-01

    Direct regulation of public utility activity and behavior has been the predominant approach to protect the public interest in this country. Changes in technology, as well as new thinking about the optimum role of regulation, have created a changing atmosphere in all of the traditional public utility industries. Competitive markets for many of the products and services in these industries have been developing. While monopoly power will continue to exist in certain parts of these industries and require direct regulation, in many areas a growing reliance upon competition as the best method of serving the public interest is developing. With this shift in emphasis from regulation to free markets, the antitrust laws take on new importance for these industries. In the absence of direct regulator control, those laws are society`s primary method of insuring the markets necessary to make competition an effective device for protecting the public interest. This study provides an overview of the antitrust laws, briefly describes the applicable theoretical underpinnings, and then turns to areas where public utility activity may pose special problems or conflicts with prevailing antitrust policy.

  7. Analysis of antitrust activity in the coal industry: 1964--1974

    Energy Technology Data Exchange (ETDEWEB)

    Hinson, W.R.

    1974-01-01

    During this period antitrust activity by the government in the coal industry was of a token nature and did not prevent (1) large investments in coal and uranium by large oil companies, nor (2) concentration with industry by large companies buying out small companies. A major result was the buying up of coal reserves, which were thus unavailable to small companies and hindered them from competing. Neither the government nor public utility companies did much to deter these developments and the results of the few court suits that were brought were not effective in discouraging the process. In fact, the widespread acceptance of nolo contendere pleas by the judicial system could make it profitable for a coal company to violate the antitrust laws. Several recommendations are made: (1) for more vigorous antitrust activity (with nonacceptance of nolo contendere pleas); (2) nationalisation of coal reserves (with bidding for reserves to be mined by competing companies); (3) a reporting system for ownership of coal reserves; and (4) encouragement of electric utilities to file private suit when anticompetitive behavior is suspected. (LTN)

  8. ANTITRUST REGULATION IN TERMS OF ENTERPRISE DEVELOPMENT CHLOR-ALKALI INDUSTRY

    Directory of Open Access Journals (Sweden)

    N. N. Grinyov

    2014-01-01

    Full Text Available The article reveals the problems of antitrust regulation activities of processing enterprises. The necessity of improving the activity of enforcement to prevent the emergence of monopolistic market structures chlor-alkali industry.

  9. The roles of antitrust law and regulatory oversight in the restructured electricity industry

    Energy Technology Data Exchange (ETDEWEB)

    Glazer, C.A.; Little, M.B.

    1999-05-01

    The introduction of retail wheeling is changing the roles of regulators and the courts. When states unbundle the vertically integrated investor-owned utility (IOU) into generation companies, transmission companies, and distribution companies, antitrust enforcement and policy setting by the state public utility/service commissions (PUCs) will be paramount. As was seen in the deregulation of the airline industry, vigorous enforcement of antitrust laws by the courts and proper policy setting by the regulators are the keys to a successful competitive market. Many of the problems raised in the airline deregulation movement came about due to laxity in correcting clear antitrust violations and anti-competitive conditions before they caused damage to the market. As retail wheeling rolls out, it is critical for state PUCs to become attuned to these issues and, most of all, to have staff trained in these disciplines. The advent of retail wheeling changes the application of the State Action Doctrine and, in turn, may dramatically alter the role of the state PUC--meaning antitrust law and regulatory oversight must step in to protect competitors and consumers from monopolistic abuse.

  10. The cost conundrum: financing the business of health care insurance.

    Science.gov (United States)

    Kelly, Annemarie

    2013-01-01

    Health care spending in both the governmental and private sectors skyrocketed over the last century. This article examines the rapid growth of health care expenditures by analyzing the extent of this financial boom as well some of the reasons why health care financing has become so expensive. It also explores how the market concentration of insurance companies has led to growing insurer profits, fewer insurance providers, and less market competition. Based on economic data primarily from the Government Accountability Office, the Kaiser Family Foundation, and the American Medical Associa tion, it has become clear that this country needs more competitive rates for the business of health insurance. Because of the unique dynamics of health insurance payments and financing, America needs to promote affordability and innovation in the health insurance market and lower the market's high concentration levels. In the face of booming insurance profits, soaring premiums, many believe that in our consolidated health insurance market, the "business of insurance" should not be exempt from antitrust laws. All in all, it is in our nation's best interest that Congress restore the application of antitrust laws to health sector insurers by passing the Health Insurance Industry Antitrust Enforcement Act as an amendment to the McCarran-Ferguson Act's "business of insurance" provision.

  11. 49 CFR 1331.5 - Additional standards for retaining antitrust immunity by passenger bus industry rate bureaus.

    Science.gov (United States)

    2010-10-01

    ... immunity by passenger bus industry rate bureaus. 1331.5 Section 1331.5 Transportation Other Regulations... standards for retaining antitrust immunity by passenger bus industry rate bureaus. (a) Rate bureaus must... tariff structure modifies in a relatively non-uniform fashion the relationship between most rates...

  12. Credit Suisse , Regulatory Immunity, and the Shrinking Scope of Antitrust

    OpenAIRE

    Keith Sharfman

    2007-01-01

    Credit Suisse has important implications for antitrust practice. The decision’s effect is to narrow the scope of antitrust law and to invite efforts by regulated industries to narrow it still further.

  13. The Middle Way on Applying Antitrust to Information Technology

    OpenAIRE

    David Evans

    2009-01-01

    Antitrust analysis ought to account for special features of ITâ۠just like it ought to account for special features of any industry under consideration. But there’s no particular reason to focus additional antitrust resources on this sector.

  14. Legal and regulatory education and training needs in the healthcare industry.

    Science.gov (United States)

    Henson, Steve W; Burke, Debra; Crow, Stephen M; Hartman, Sandra J

    2005-01-01

    As in any other industry, laws and regulations significantly impact the functioning of the healthcare industry. Some laws, such as those relating to malpractice and social insurance systems, affect the manner in which the industry operates. Other laws, such as those regulating antitrust and employment practices, affect the organization and the environment in which the industry operates. It is increasingly important that practitioners and managers be cognizant of this complex and dynamic legal minefield. This study examined healthcare managers and executives' knowledge of 9 key issues in the legal and regulatory environment of the healthcare industry. Specifically, the study focused on knowledge concerning tort and contract liability, insurance law, labor and employment regulation, criminal and ethical responsibility, antitrust regulation, the law governing business associations and recent developments. Findings suggest that the levels of knowledge required to manage legal and regulatory issues are much greater than the existing levels of knowledge.

  15. Antitrust Enforcement in the Electricity and Gas Industries: Problems and Solutions for the EU

    International Nuclear Information System (INIS)

    Leveque, Francois

    2006-01-01

    Antitrust enforcement in the electricity and gas industries raises specific problems that call for specific solutions. Among the issues: How can the anticompetitive effects of mergers be assessed in a changing regulatory environment? Should long-term agreements in energy purchasing be prohibited? What are the benefits of preventive action such as competition advocacy and market surveillance committees? Should Article 82 (a) of the EC Treaty be used to curb excessive pricing?. (author)

  16. Insurance industry guide

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

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

  17. Is there evidence that recent consolidation in the health insurance industry has adversely affected premiums?

    Science.gov (United States)

    Kopit, William G

    2004-01-01

    James Robinson suggests that recent consolidation in the insurance market has been a cause of higher health insurance prices (premiums). Although the recent consolidation among health insurers and rising premiums are indisputable, it is unlikely that consolidation has had any adverse effect on premiums nationwide, and Robinson provides no data that suggest otherwise. Specifically, he does not present data showing an increase in concentration in any relevant market during the past few years, let alone any resulting increase in premiums. Health insurance consolidation in certain local markets could adversely affect premiums, but it seems clear that it is not a major national antitrust issue.

  18. Stricter antitrust legislation?

    International Nuclear Information System (INIS)

    Heller, W.

    2007-01-01

    In November 2006, the German Federal Ministry of Economics sent a ministerial draft bill on combating price abuses in the energy supply and food trade sectors to the trade associations for comment. The bill must be seen as part of a set of measures of the federal government seeking to improve conditions for more competition in the energy sector. An omnibus law is to add a new Section 29 to the Act against Restrictions on Competition (Antitrust Act). The addition is to bear the heading of 'Power Economy' and has been designed to prevent a utility (vendor of electricity, gas, and district heat) from abusing its position on a market which it dominates either alone or together with other utility companies. Depending on the interests involved, comments on the draft bills differ. On the whole, this tightening up of antitrust legislation is preceived more as a repair job. Stricter antitrust provisions absolutely must also be seen in their European dimension. European firms not falling under this stricter antitrust law enjoy advantages over German firms. (orig.)

  19. Addressing Pricing Power in Integrated Delivery: The Limits of Antitrust.

    Science.gov (United States)

    Berenson, Robert

    2015-08-01

    Prices are the major driver of why the United States spends so much more on health care than other countries do. The pricing power that hospitals have garnered recently has resulted from consolidated delivery systems and concentrated markets, leading to enhanced negotiating leverage. But consolidation may be the wrong frame for viewing the problem of high and highly variable prices; many "must-have" hospitals achieve their pricing power from sources other than consolidation, for example, reputation. Further, the frame of consolidation leads to unrealistic expectations for what antitrust's role in addressing pricing power should be, especially because in the wake of two periods of merger "manias" and "frenzies" many markets already lack effective competition. It is particularly challenging for antitrust to address extant monopolies lawfully attained. New payment and delivery models being pioneered in Medicare, especially those built around accountable care organizations (ACOs), offer an opportunity to reduce pricing power, but only if they are implemented with a clear eye on the impact on prices in commercial insurance markets. This article proposes approaches that public and private payers should consider to complement the role of antitrust to assure that ACOs will actually help control costs in commercial markets as well as in Medicare and Medicaid. Copyright © 2015 by Duke University Press.

  20. 48 CFR 245.7308 - Antitrust notification.

    Science.gov (United States)

    2010-10-01

    ... action would tend to create or maintain a situation inconsistent with the antitrust laws. (c) If the Attorney General advises that the proposed disposition is inconsistent with the antitrust laws, do not... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Antitrust notification...

  1. NRC antitrust licensing actions, 1978--1996

    International Nuclear Information System (INIS)

    Mayer, S.J.; Simpson, J.J.

    1997-09-01

    NUREG-0447, Antitrust Review of Nuclear Power Plants, was published in May 1978 and includes a compilation and discussion of U.S. Nuclear Regulatory Commission (NRC) proceedings and activity involving the NRC's competitive review program through February 1978, NUREG-0447 is an update of an earlier discussion of the NRC's antitrust review of nuclear power plants, NR-AIG-001, The US Nuclear Regulatory Commission's Antitrust Review of Nuclear Power Plants: The Conditioning of Licenses, which reviewed the Commission's antitrust review function from its inception in December 1970 through April 1976. This report summarizes the support provided to NRC staff in updating the compilation of the NRC's antitrust licensing review activities for commercial nuclear power plants that have occurred since February 1978. 4 refs., 4 tabs

  2. 49 CFR 95.13 - Antitrust laws.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 1 2010-10-01 2010-10-01 false Antitrust laws. 95.13 Section 95.13 Transportation Office of the Secretary of Transportation ADVISORY COMMITTEES § 95.13 Antitrust laws. The activities of advisory committees are subject to the antitrust laws and committee members are not immune from prosecution...

  3. Global warming and the insurance industry

    Science.gov (United States)

    Berz, G. A.

    1992-06-01

    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.

  4. Antitrust review of nuclear power plants. Recent developments

    International Nuclear Information System (INIS)

    Delaney, J.B.; Honeycutt, T.C.; Messier, M.

    1978-04-01

    This report updates and augments an earlier report that cataloged antitrust license conditions resulting from the Nuclear Regulatory Commission's (NRC's) antitrust review process mandated by the 1970 antitrust amendments from December 1970 to April 1976. An overview of the NRC's antitrust review process relevant to applications for construction permits and operating licenses is presented. Information on the antitrust reviews completed from May 1976 to February 1978 is also given. This information includes the identity of applicants, utility system and unit sizes, the geographic location of the applicant, and a summary of any antitrust license conditions

  5. NRC antitrust licensing actions, 1978--1996

    Energy Technology Data Exchange (ETDEWEB)

    Mayer, S.J.; Simpson, J.J.

    1997-09-01

    NUREG-0447, Antitrust Review of Nuclear Power Plants, was published in May 1978 and includes a compilation and discussion of U.S. Nuclear Regulatory Commission (NRC) proceedings and activity involving the NRC`s competitive review program through February 1978, NUREG-0447 is an update of an earlier discussion of the NRC`s antitrust review of nuclear power plants, NR-AIG-001, The US Nuclear Regulatory Commission`s Antitrust Review of Nuclear Power Plants: The Conditioning of Licenses, which reviewed the Commission`s antitrust review function from its inception in December 1970 through April 1976. This report summarizes the support provided to NRC staff in updating the compilation of the NRC`s antitrust licensing review activities for commercial nuclear power plants that have occurred since February 1978. 4 refs., 4 tabs.

  6. INSURANCE INDUSTRY IN ERITREA - ACHIEVEMENTS AND CHALLENGES

    OpenAIRE

    Rena, Ravinder

    2007-01-01

    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...

  7. 48 CFR 403.303 - Reporting suspected antitrust violations.

    Science.gov (United States)

    2010-10-01

    ... Antitrust Violations 403.303 Reporting suspected antitrust violations. Contracting officers shall report the circumstances of suspected violations of antitrust laws to the Office of Inspector General in accordance with... antitrust violations. 403.303 Section 403.303 Federal Acquisition Regulations System DEPARTMENT OF...

  8. 48 CFR 1403.303 - Reporting suspected antitrust violations.

    Science.gov (United States)

    2010-10-01

    ... Antitrust Violations 1403.303 Reporting suspected antitrust violations. (a) Reports on suspected violations of antitrust laws as required by FAR 3.303 shall be prepared by the CO, reviewed by the SOL, and... antitrust violations. 1403.303 Section 1403.303 Federal Acquisition Regulations System DEPARTMENT OF THE...

  9. Risk transfer solutions for the insurance industry

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2009-01-01

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

  10. Application of Actuarial Modelling in Insurance Industry

    OpenAIRE

    Burcã Ana-Maria; Bãtrînca Ghiorghe

    2011-01-01

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

  11. ETHICS IN THE INSURANCE INDUSTRY

    OpenAIRE

    Gavriletea Marius

    2008-01-01

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

  12. 48 CFR 903.303 - Reporting suspected antitrust violations.

    Science.gov (United States)

    2010-10-01

    ... as described in FAR 3.301, and antitrust law violations as described in FAR 3.303, evidenced in bids... antitrust violations. 903.303 Section 903.303 Federal Acquisition Regulations System DEPARTMENT OF ENERGY GENERAL IMPROPER BUSINESS PRACTICES AND PERSONAL CONFLICTS OF INTEREST Reports of Suspected Antitrust...

  13. Antitrust implications of utility participation in the market for remote photovoltaic systems

    International Nuclear Information System (INIS)

    Starrs, T.J.

    1994-01-01

    Remote photovoltaic systems are an important niche market in the development of a viable photovoltaics industry. Electric utilities in the US have started offering remote photovoltaic service. Utilities have the potential to use their monopoly power in regulated markets to unfair competitive advantage in competitive markets. Therefore, utility participation in remote photovoltaic markets raises potentially significant issues of antitrust law and policy. This paper describes some of the legal and factual criteria that US courts and regulatory agencies are likely to use in assessing the antitrust implications of utility participation in the market for remote photovoltaic systems

  14. 32 CFR 644.440 - Application of antitrust laws.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Application of antitrust laws. 644.440 Section... Application of antitrust laws. Section 207 of the Federal Property Act provides that real property and related... the antitrust laws. Prior to obligating the Government on any such disposal, the District Engineer...

  15. The Intra-Industry Effects of Life Insurance Company Demutualizaton

    Directory of Open Access Journals (Sweden)

    Joseph W. Meador

    2008-12-01

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

  16. 15 CFR 1160.24 - Antitrust considerations.

    Science.gov (United States)

    2010-01-01

    ... Partnership Initiative § 1160.24 Antitrust considerations. (a) The Department of Commerce will offer no opinion on the antitrust merits of the formation of any proposed Strategic Partnership. The Department may..., conduct workshops to discuss the formation of such partnerships in general. Commerce will not select the...

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

    OpenAIRE

    Lu-Ming Tseng; Wen-Pin Su

    2014-01-01

    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...

  18. Accountable Care Organizations and Antitrust Enforcement: Promoting Competition and Innovation.

    Science.gov (United States)

    Feinstein, Deborah L; Kuhlmann, Patrick; Mucchetti, Peter J

    2015-08-01

    The antitrust laws stand to protect consumers of health care services from conduct that would raise prices, lower quality, and decrease innovation by lessening competition. Importantly, though, vigorous antitrust enforcement does not impede accountable care organizations (ACOs) and similar collaborations that advance these same goals of better and more efficient care; in fact, by fostering competitive markets, the antitrust laws encourage such initiatives. This article summarizes the legal framework that the federal antitrust agencies - the Federal Trade Commission and the Antitrust Division of the US Department of Justice - use to analyze ACOs and other collaborations among health care providers. It outlines the guidance provided by the federal antitrust agencies concerning when ACOs and other provider collaborations likely would harm competition and consumers. In addition, it reviews common antitrust issues that can arise with ACOs and provides examples of enforcement actions that have prevented health care providers from taking or continuing anticompetitive actions. Copyright © 2015 by Duke University Press.

  19. Stricter antitrust legislation?; Verschaerfung des Kartellrechts?

    Energy Technology Data Exchange (ETDEWEB)

    Heller, W.

    2007-01-15

    In November 2006, the German Federal Ministry of Economics sent a ministerial draft bill on combating price abuses in the energy supply and food trade sectors to the trade associations for comment. The bill must be seen as part of a set of measures of the federal government seeking to improve conditions for more competition in the energy sector. An omnibus law is to add a new Section 29 to the Act against Restrictions on Competition (Antitrust Act). The addition is to bear the heading of 'Power Economy' and has been designed to prevent a utility (vendor of electricity, gas, and district heat) from abusing its position on a market which it dominates either alone or together with other utility companies. Depending on the interests involved, comments on the draft bills differ. On the whole, this tightening up of antitrust legislation is preceived more as a repair job. Stricter antitrust provisions absolutely must also be seen in their European dimension. European firms not falling under this stricter antitrust law enjoy advantages over German firms. (orig.)

  20. Life and health insurance industry investments in fast food.

    Science.gov (United States)

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

    2010-06-01

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

  1. 32 CFR 644.542 - Application of anti-trust laws.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Application of anti-trust laws. 644.542 Section... PROPERTY REAL ESTATE HANDBOOK Disposal Sale Procedure § 644.542 Application of anti-trust laws. The Federal... tend to create or maintain a situation inconsistent with the anti-trust laws. Prior to obligating the...

  2. Bundled Discounts and the Antitrust Modernization Commission

    OpenAIRE

    Aaron Panner

    2007-01-01

    The Report of the Antitrust Modernization Commission devotes relatively little space to antitrust common law – the judge-made doctrine that governs unreasonable restraints of trade under Section 1 and monopolization under Section 2 of the Sherman Act.

  3. The insurance of industrial risks at home and abroad

    International Nuclear Information System (INIS)

    Braun, H.

    1976-01-01

    For more than 85 years now, the Allianz has followed the trend of development in industry from both the technological and economic aspects. This contribution furnishes a review - in summarised form - of the types of insurance of significance for industry, with particular reference to the insurance requirements of the German export industry. (orig.) [de

  4. 41 CFR 109-45.310 - Antitrust laws.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Antitrust laws. 109-45.310 Section 109-45.310 Public Contracts and Property Management Federal Property Management... Antitrust laws. DOE offices shall submit to the Deputy Assistant Secretary for Procurement and Assistance...

  5. Price--Anderson Act: the insurance industry's view

    International Nuclear Information System (INIS)

    Marrone, J.

    1977-01-01

    The insurance industry feels the expense of providing insurance coverage under the Price-Anderson Act is justified because it encouraged development of nuclear power and assured protection for the public in the event of an accident. Insurance pools have been instituted in about 20 countries in order to distribute the risk on a worldwide basis. Changes in the original Act allow an off-site claimant to get compensation with defense waived and provide for the transition of financial responsibility from the public to the private sector. To date the pools have refunded $9.7 of $12.7 million (73 percent) of the premiums to the insured and the remainder has grown into a $45 million fund, which reflects the success of the nuclear industry and the regulatory agencies in establishing a safe record. This record covers 60 power reactors, 50 research and development reactors, waste disposal sites, and about 50 nuclear facilities. With the exception of reactor operators and fuel reprocessors, the insurance is voluntary at premiums ranging from $1000 to $260,000. A total of $600,000 has been paid in claims

  6. The insurance industry and unconventional gas development: Gaps and recommendations

    International Nuclear Information System (INIS)

    Wetherell, Daniel; Evensen, Darrick

    2016-01-01

    The increasingly growing and controversial practice of natural gas development by horizontal drilling and high volume hydraulic fracturing (‘fracking’) faces a severe environmental insurance deficit at the industry level. Part of this deficit is arguably inherent to the process, whereas another part is caused by current risk information shortfalls on the processes and impacts associated with development. In the short and long terms, there are several conventional and unconventional methods by which industry-level and governmental-level policy can insure against these risks. Whilst academic attention has been afforded to the potential risks associated with unconventional natural gas development, little consideration has been given to the lack of insurance opportunities against these risks or to the additional risks promulgated by the dearth of insurance options. We chronicle the ways in which insurance options are limited due to unconventional gas development, the problems caused by lack of insurance offerings, and we highlight potential policy remedies for addressing these gaps, including a range of government- and industry-specific approaches. - Highlights: •A gap exists in provision of liability insurance for ‘fracking’-related risks. •The market gap is due primarily to uncertainties about probabilistic risk. •Insurance for risks similar to ‘fracking’ highlight potential policy options. •Government regulation and/or industry agreements can effectively fill the gap. •Policies on insurance and liability coverage necessitate ethical considerations.

  7. Mergers, Strategic Investments and Antitrust Policy

    OpenAIRE

    Deneffe, Daniel; Wakker, Peter

    1996-01-01

    textabstractEstablished firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can induce established firms that would otherwise not have entered to enter via conglomerate merger. The vigor of antitrust enforcement toward horizontal mergers also affects the conglomerate acquisiti...

  8. Broken trusts: The Texas Attorney General versus the oil industry, 1889-1909

    Science.gov (United States)

    Singer, Jonathan Whitney

    The legal history of state antitrust enforcement and the oil industry in Texas illustrates how and why antitrust law contemplated complementary enforcement at the state and federal government level. Historians, economists, and lawyers have concentrated on federal antitrust law and enforcement, ignoring state efforts. Yet for most of the first twenty-five years following the enactment of the Sherman Antitrust Act, federal enforcement efforts were extremely limited, leaving the field to the states. Texas was one of several states that had strong antitrust laws, and whose attorneys general prosecuted antitrust violations with vigor. Political ambition was a factor in the decisions to investigate and prosecute cases against a highly visible target, the petroleum industry, but there was also a genuine belief in the goals of antitrust policy, and in the efficacy of enforcement of the laws. Enforcement efforts were also complicated by the fact that large oil companies provided vital commodities, articles of "prime necessity," to the citizens of Texas and following the discovery of large oil fields, played an increasingly important role in the economies of many Texas communities. The Texas Attorney General's antitrust enforcement efforts against the oil industry in this time of transition from an agricultural society to an industrial society provide insights into the litigation process, and reveal how well the rhetoric of trust-busting fit with the reality of antitrust enforcement. The antitrust crusade against the petroleum industry also highlights the changing roles of state government in the late nineteenth and early twentieth centuries, particularly the Attorney General's Department. The experience of Texas undermines the view that federal action has always dominated antitrust enforcement efforts and that antitrust litigation against Standard Oil was ineffective and ineffectual. Rather, the Texas Attorney General's litigations and their results suggest that some states

  9. 38 CFR 1.902 - Antitrust, fraud, and tax and interagency claims.

    Science.gov (United States)

    2010-07-01

    ... of the antitrust laws or to any debt involving fraud, the presentation of a false claim, or... whole or in part on conduct in violation of the antitrust laws or any claim involving fraud, the... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Antitrust, fraud, and tax...

  10. International Antitrust and the WTO: The Lesson from Intellectual Property

    OpenAIRE

    Guzman, Andrew T.

    2000-01-01

    International antitrust issues have become important in current debates regarding international trade and international regulation. This Article addresses one of the central questions about international antitrust – the appropriate forum for negotiations. The Article argues that the combination of domestic antitrust policy and international trade makes a substantive multilateral agreement unlikely unless transfers are made from states that gain from such a deal to those that lose. The Artic...

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

    Science.gov (United States)

    Fletcher, Linda Pickthorne

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

  12. 41 CFR 102-75.270 - Must antitrust laws be considered when disposing of property?

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Must antitrust laws be...-REAL PROPERTY DISPOSAL Surplus Real Property Disposal Applicability of Antitrust Laws § 102-75.270 Must antitrust laws be considered when disposing of property? Yes, antitrust laws must be considered in any case...

  13. The continuous market cycle of the shortterm insurance industry

    Directory of Open Access Journals (Sweden)

    L Essel

    2012-03-01

    Full Text Available The short-term insurance industry is a cyclical type of business due to the impact of the continuous market cycle. This cycle has a growth phase, soft market phase, hard market phase and a break-even phase. The objective of the research paper focuses on the improvement of financial decision-making when executives of the short-term insurance industry are managing their business during the various phases of the continuous market cycle. Both a literature study and an empirical survey were necessary to achieve the research objective. The empirical survey included the contributions of the top nine commercial and corporate short-term insurers in South Africa. They represented more than 77% of the total gross written premiums in 2009 and can thus be considered as the leaders of the short-term insurance industry in this country. The conclusions of the study should be valuable to other developing countries with emerging market economies as South Africa is also classified as such. The study focused on the various factors which may cause the continuous market cycle, the problem areas which the executives experience concerning the continuous market cycle, and how often various factors are adjusted by the short-term insurers to account for changes in the continuous market cycle

  14. 26 CFR 1.186-1 - Recoveries of damages for antitrust violations, etc.

    Science.gov (United States)

    2010-04-01

    ...) Injury suffered under certain antitrust law violations. An injury sustained in business, or to property, by reason of any conduct forbidden in the antitrust laws for which a civil action may be brought... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Recoveries of damages for antitrust violations...

  15. Genetics and Insurance in Australia: Concerns around a Self-Regulated Industry.

    Science.gov (United States)

    Newson, Ainsley J; Tiller, Jane; Keogh, Louise A; Otlowski, Margaret; Lacaze, Paul

    2017-01-01

    Regulating the use of genetic information in insurance is an issue of ongoing international debate. In Australia, providers of life and other mutually rated insurance products can request applicants to disclose all results from any genetic test. Insurers can then use this information to adjust premiums and make policy decisions. The Australian Financial Services Council (FSC; an industry body) developed and maintains the relevant industry standard, which was updated in late 2016. Aims/Objective: To review the 2016 FSC Standard in light of relevant research and determine the legitimacy of the Australian regulatory environment regarding use of genetic information by insurers. We identified five concerns arising from the 2016 FSC Standard: (1) use of results obtained from research; (2) the requirement for an applicant to disclose whether they are "considering" a genetic test; (3) failure to account for genome sequencing and other technology developments; (4) limited evidence regarding adverse selection; and (5) the inappropriateness of industry self-regulation. Industry self-regulation of the use of genetic information by life insurers, combined with a lack of government oversight, is inappropriate and threatens to impede the progress of genomic medicine in Australia. At this critical time, Australia requires closer government oversight of the use of genetic information in insurance. © 2017 S. Karger AG, Basel.

  16. 26 CFR 1.162-22 - Treble damage payments under the antitrust laws.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Treble damage payments under the antitrust laws... Corporations § 1.162-22 Treble damage payments under the antitrust laws. (a) In general. In the case of a... Federal antitrust laws or enters a plea of guilty or nolo contendere to an indictment or information...

  17. Parallel Federal/State Antitrust Investigations

    OpenAIRE

    Stephen Houck

    2012-01-01

    Those matters in which both federal and state antitrust authorities do take an interest usually have significant impacts across state lines and even international borders. Stephen D. Houck (Menaker & Herrmann LLP)

  18. Finance and Insurance. Industry Training Monograph No. 11.

    Science.gov (United States)

    Dumbrell, Tom

    Australia's finance and insurance industry is among the 5 industry divisions in which females outnumber males. Women's share of industry jobs has risen from 51% to 55% in the last decade. However, there is a pronounced gap in earnings between male and female workers. Employers expressed below-average satisfaction with vocational education and…

  19. 31 CFR 900.3 - Antitrust, fraud, and tax and interagency claims excluded.

    Science.gov (United States)

    2010-07-01

    ... activity do not apply to any debt based in whole or in part on conduct in violation of the antitrust laws... in whole or in part on conduct in violation of the antitrust laws or any claim involving fraud, the... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Antitrust, fraud, and tax and...

  20. Determinants of Financial Performance in The Indonesian Islamic Insurance Industry

    Directory of Open Access Journals (Sweden)

    Iman Pirman Hidayat

    2017-03-01

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

  1. Standard review plan on antitrust reviews. Final report

    International Nuclear Information System (INIS)

    Lambe, W.M.; Davis, M.J.

    1997-12-01

    This standard review plan describes the procedures used by NRC staff to implement the antitrust review and enforcement provisions in Sections 105 and 186 of the Atomic Energy Act of 1954, as amended (the Act), and replaces NUREG-0970. These procedures are principally derived from the Commission's Rules and Regulations in 10 CFR Sections 2.101, 2.102, Part 2-Appendix A, Section X, 50.33a, 50.80, 50.90, and 52.77. These procedures set forth the steps and criteria the staff uses in antitrust reviews of construction permit applications, operating license applications, combined construction permit/operating license applications, combined construction permit/operating license applications, and applications for approval of the transfer of construction permits, operating licenses, and combined licenses. In addition, the procedures describe how the staff enforces compliance with antitrust conditions appended to licenses

  2. Lectures on Antitrust Economics, Chapter 2: Price Fixing

    OpenAIRE

    Whinston, Michael D.

    2003-01-01

    In this chapter, we begin our discussion of antitrust economics by considering what many consider its most central element: its ban on "price fixing" - that is, agreements among competitors over the prices they will charge or the outputs they will produce. Indeed, the prohibition on price fixing is one area of antitrust law that even those generally skeptical of governmental compe- tition policy typically regard approvingly. Nevertheless, despite its current uncontroversial status, we shall s...

  3. Concetto di mercato e antitrust (The concept of the market and antitrust

    Directory of Open Access Journals (Sweden)

    P. Sabbatini

    2013-10-01

    Full Text Available In order for the concept of the market to play a significant and non-contradictory role in economic (and antitrust analysis, two conditions must be fulfilled. First, the characteristics of demand must be such as to demarcate a market unequivocally. Second, the competition in a specific market must have limited interaction with the rest of the economy. In general, these conditions cannot be met. First, the non-constancy of the elasticity of the demand function means that the size of the market depends on its structure and on the behaviour of its agents. Second, given differentiated products, the competitive relations between them will be heterogeneous, giving rise to as many market segments as there are individual products. Third, supply-side substitutability, i.e. the possibility of using a given technique to produce several products (not all in the same market ensures that intra-industry economic dynamics prevail over intra-market ones. Finally, multi-market contacts between firms generate overall strategic conduct, making analysis of any particular market irrelevant.  JEL Codes: K21, L40 

  4. Private health insurance: New measures of a complex and changing industry

    Science.gov (United States)

    Arnett, Ross H.; Trapnell, Gordon R.

    1984-01-01

    Private health insurance benefit payments are an integral component of estimates of national health expenditures. Recent analyses indicate that the insurance industry has undergone significant changes since the mid-1970's. As a result of these study findings and corresponding changes to estimating techniques, private health insurance estimates have been revised upward. This has had a major impact on national health expenditure estimates. This article describes the changes that have occurred in the industry, discusses some of the implications of those changes, presents a new methodology to measure private health insurance and the resulting estimate levels, and then examines concepts that underpin these estimates. PMID:10310950

  5. Catastrophes and Climate Change. Concerns and Possible Countermeasures of the Insurance Industry

    Energy Technology Data Exchange (ETDEWEB)

    Berz, G.A. [Geoscience Research, Munich Reinsurance Company, D-80791 Munich (Germany)

    1999-07-01

    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 such as coastal regions, which are particularly exposed to natural hazards. The natural hazards themselves, on the other hand, are showing a change for the worse as many atmospheric extremes are strongly influenced by global warming. 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 changing probability distributions of many processes in the atmosphere will force up the frequency and severity of heat waves, droughts, bush fires, tropical and extratropical cyclones, tornados, hailstorms, floods and storm surges in many parts of the world with serious consequences for all types of property insurance, apart from the consequences of the stratospheric ozone destruction for health and life insurance. Rates will have to be raised and in certain areas insurance cover will only be available after considerable restrictions have been imposed, as for example significant deductibles and low liability or loss limits. In areas of high insurance density the loss potential of individual catastrophes can reach a level at which the national and international insurance industries will 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

  6. Catastrophes and Climate Change. Concerns and Possible Countermeasures of the Insurance Industry

    International Nuclear Information System (INIS)

    Berz, G.A.

    1999-01-01

    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 such as coastal regions, which are particularly exposed to natural hazards. The natural hazards themselves, on the other hand, are showing a change for the worse as many atmospheric extremes are strongly influenced by global warming. 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 changing probability distributions of many processes in the atmosphere will force up the frequency and severity of heat waves, droughts, bush fires, tropical and extratropical cyclones, tornados, hailstorms, floods and storm surges in many parts of the world with serious consequences for all types of property insurance, apart from the consequences of the stratospheric ozone destruction for health and life insurance. Rates will have to be raised and in certain areas insurance cover will only be available after considerable restrictions have been imposed, as for example significant deductibles and low liability or loss limits. In areas of high insurance density the loss potential of individual catastrophes can reach a level at which the national and international insurance industries will 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

  7. Essays in antitrust economics

    NARCIS (Netherlands)

    Verouden, V.C.H.M.

    2001-01-01

    Competition law - or antitrust law, as it is called in the United States - is a field of law to which economic concepts, such as "restriction of competition" and "anti-competitive effect", are of central importance. This thesis analyses a number of such concepts, both from an economic and a legal

  8. Antitrust Enforcement and Marginal Deterrence

    NARCIS (Netherlands)

    Houba, H.E.D.; Motchenkova, E.; Wen, Q.

    2011-01-01

    Abstract: We study antitrust enforcement in which the fine must obey four legal principles: punishments should fit the crime, proportionality, bankruptcy considerations, and minimum fines. We integrate these legal principles into an infinitely-repeated oligopoly model. Bankruptcy considerations

  9. Competition And Antitrust Law In Ecuadorian Constitution

    Directory of Open Access Journals (Sweden)

    Marcelo Marín Sevilla

    2013-01-01

    Full Text Available This work allows us to establish the Economic Constitution and the Competition Law (C.L in the Constitution. Additionally, the paper analyzes whether the rules outlined in the C. L. and in doctrine are consistent and appropriate with the Constitution of Ecuador. The Competition and Antitrust Laws has rules for investigating and punishing the cartels, the abuses of power market (dominant position, the rules for merger control, the behaviors of Abuse of economic dependence, and unfair competition behaviors. Always the Antitrust Authority will analyze these behaviors in terms of welfare of both: the consumer and the market.

  10. A Theoretical Assessment on Optimal Asset Allocations in Insurance Industry

    Directory of Open Access Journals (Sweden)

    Bilel Jarraya

    2013-10-01

    Full Text Available In recent years the financial markets known a rapid development and become more and more complex. So, many regulatory requirements, focused on banks as well as insurance sector, have been developed. These regulatory are concentrated essentially on business risk control and required capital to cover risks. These requirements have influenced the asset allocation issue in insurance industry. These requirements have influenced the asset allocation issue in insurance industry. This section is interested by this issue. In first time it highlights some research works in this issue. Then we will investigate the relation between Solvency and optimal asset allocation. Finally we will explore the principal used methods in modeling asset and in choosing the optimal portfolio composition.

  11. Power Markets Shaped by Antitrust

    NARCIS (Netherlands)

    Sadowska, M.; Willems, Bert

    2012-01-01

    Abstract: In November 2011 Sweden abolished the uniform national electricity price and introduced separate price zones. This was the result of an antitrust settlement between the Commission and the Swedish network operator, which was accused of discriminating between domestic and export electricity

  12. Employee Satisfaction Survey on the Life Insurance Industry

    Directory of Open Access Journals (Sweden)

    Benţe Corneliu Cristian

    2014-08-01

    Full Text Available This paper has proposed to explore the satisfaction of employees that sell insurance policies. Several authors had examined customer satisfaction, service quality and its implications on customer attitude towards different fields, but our concern was to address this relatively unexplored field which is employees` satisfaction. By using an exploratory approach, we collected data from a sample of 332 employees that sell insurance policies within north-Western Romanian. By analyzing data it was possible to determine the GAP between the expectations of employees that sell insurance policies and their perceptions regarding the service quality in life insurance industry. In addition it was tested whether there is relationship between the frequency of contact with the back office employees and level of income earned from this activity. It was revealed that from the analyzed population the most of those surveyed were employees of insurance intermediaries and not employees of a single company insurance. Considering that the number of researches that analyze the front office employees` satisfaction is rather low we consider that this paper brings a significant contribution to the literature review.

  13. Market basket analysis in insurance industry

    Directory of Open Access Journals (Sweden)

    Marzieh Vahidi Roodpishi

    2015-04-01

    Full Text Available Nowadays, many organizations focus on discovering their customers’ hidden patterns to maintain their competitive position through customer analysis. In fact, more and more organizations are realizing that customers are their most valuable resources. This paper performs a research using data associated with 300 clients of an insurance company in city of Anzali, Iran and they are analyzed using K-Means clustering method. Using demographic variables including gender, age, occupation, education level, marital status, place of residence and clients’ incomes, the study determines the optimal numbers of clusters in order to achieve necessary data for grouping customers. Next, the study uses the method of association rules to find hidden patterns for the insurance industry.

  14. 28 CFR 16.88 - Exemption of Antitrust Division Systems-limited access.

    Science.gov (United States)

    2010-07-01

    ... investigation. Disclosure of the accounting would therefore present a serious impediment to antitrust law... of accounting would therefore present a serious impediment to antitrust law enforcement efforts. (2... accounting of disclosures made under subsection (b) of the Act would permit the subject of an investigation...

  15. Joint Research and Development under US Antitrust and EU Competition Law

    DEFF Research Database (Denmark)

    Lundqvist, Björn

    This fascinating new book dissects, from a Competition law perspective, how Research and Development collaborations operate under both US and EU antitrust law. Analyzing the evolution of this innovation landscape from the 1970s to the present day, Blomqvist details the modifications and amendments...... made over this time to the relevant legal acts and guidelines. In doing to, the author picks up on the slow shift that has taken place in both the antitrust laws of the USA and the Competition Rules of the EU. The book concludes by discussing the necessity for a stringent attitude towards the antitrust...

  16. 10 CFR 1015.103 - Antitrust, fraud, tax, interagency, transportation account audit, acquisition contract, and...

    Science.gov (United States)

    2010-01-01

    ... part on conduct in violation of the antitrust laws or to any debt involving fraud, the presentation of... whole or in part on conduct in violation of the antitrust laws or any claim involving fraud, the... 10 Energy 4 2010-01-01 2010-01-01 false Antitrust, fraud, tax, interagency, transportation account...

  17. Performance of the life insurance industry under pressure: efficiency, competition and consolidation

    NARCIS (Netherlands)

    Bikker, J.A.

    2012-01-01

    A well-performing life insurance industry benefits consumers, producers and insurance firm stockholders alike. Unfavourable market conditions stress the need for life insurers to perform well in order to remain solvent. Using a unique supervisory data set, this paper investigates competition and

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

    Science.gov (United States)

    Vieira, Cristine; Costa, Nilson do Rosário

    2008-01-01

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

  19. Deregulation and regulation by the national and European antitrust laws. The development and amendment of antitrust laws and their effects on the public utilities. Papers

    International Nuclear Information System (INIS)

    Baur, J.F.

    1994-01-01

    The papers presented at the meeting discuss the following subjects: The public utilities and their scope of exemptions from provisions of the antitrust laws as established by court rulings; reimbursement for electricity supplied to the grid and the phasing out of franchise agreements; the competition policy of the Federal Cartel Office towards the public utilities; legal and economic implications of the competition policy adopted by the Federal Cartel Office for the structures of the public sector of the power supply industry; ensuring safe and priceworthy power supply in Europe. The five papers can be separately retrieved from the database. (HSCH) [de

  20. Nuclear Regulatory Commission's antitrust review process: an analysis of the impacts

    International Nuclear Information System (INIS)

    1981-06-01

    The Nuclear Regulatory Commission's (NRC) antitrust process is reviewed and its impacts to small systems and applicant systems are studied. This process takes the form of a description of the NRC's antitrust review process as implemented, a generic categorization of potential impacts and individual case-by-case studies of four different utilities

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

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2010-01-01

    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.

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2004-07-01

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

  3. THE RELEVANT TEMPORAL MARKET DEFINITION IN ANTITRUST ANALYSIS

    Directory of Open Access Journals (Sweden)

    Anzhelika Gerasymenko

    2018-01-01

    Full Text Available The purpose of the paper is to compare various theoretical approaches to the relevant temporal market definition, collecting the arguments for their implementation under the different kinds of antitrust cases. It is vital for the markets with peak demand (transport, electricity, markets of intergenerational products or discreet supply (agriculture. Methodology. The survey is based on the theoretical and graphical modelling of product space perception by consumers. It investigates changes of the latter under different marketing strategies of a seller. Statistical methods are used to analyse trends of demand and prices for iPhones’ changes, as well as dynamics of electricity consumption. Results. The paper reveals two facing approaches to the definition of relevant temporal market: 1 the discrete one that provides a short-run analysis of products’ substitutability and combines only those time periods that are characterized by a stable balance of demand and supply, as well as stable market equilibrium; 2 the coherent one that provides a long-run analysis of cyclical variation of the market. This cycling is based on the awareness of consumers and producers of intertemporal substitutability of products. The authors use the model of intertemporal competition to explain principles of these approaches and apply it to the iPhone market analysis. They conclude that the coherent approach must be applied to the temporal market definition for the products with elastic demand. Inelastic demand brings the necessity to apply the discrete approach to the temporal market definition. These conclusions cannot be applied to regulated markets. The system of government regulation is the main determinant of the temporal boundaries of such markets. Practical implications. The results of this research can be used by competition agencies in antitrust cases to define the relevant temporal market, where the violations of antitrust legislation can occur. The correct

  4. Mergers, Strategic Investments and Antitrust Policy

    NARCIS (Netherlands)

    D. Deneffe (Daniel); P.P. Wakker (Peter)

    1996-01-01

    textabstractEstablished firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can

  5. 15 CFR 1160.4 - Antitrust considerations.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Antitrust considerations. 1160.4 Section 1160.4 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade (Continued) TECHNOLOGY ADMINISTRATION, DEPARTMENT OF COMMERCE PRODUCTIVITY, TECHNOLOGY AND INNOVATION Promotion of...

  6. Solar technology and the insurance industry: Issues and applications

    Energy Technology Data Exchange (ETDEWEB)

    Deering, A.; Thornton, J. P.

    1999-07-01

    Today's insurance industry strongly emphasizes developing cost-effective hazard mitigation programs, increasing and retaining commercial and residential customers through better service, educating customers on their exposure and vulnerabilities to natural disasters, collaborating with government agencies and emergency management organizations, and exploring the use of new technologies to reduce the financial impact of disasters. Solar technology can be used in underwriting, claims, catastrophe response, loss control, and risk management. This report will address the above issues, with an emphasis on pre-disaster planning and mitigation alternatives. It will also discuss how energy efficiency and renewable technologies can contribute to reducing insurance losses and offer suggestions on how to collaborate with the utility industry and how to develop educational programs for business and consumers.

  7. Service quality effect on satisfaction and word of mouth in insurance industry

    Directory of Open Access Journals (Sweden)

    Masoud Pourkiani

    2014-08-01

    Full Text Available Quality tends to play an essential role in service industries such as banking and insurance services, as quality of service is crucial to count for the survival and profitability of the organization. Today, customer satisfaction and service quality is critical in most service industries. Taking into consideration the competitive issues from observing services quality, the subject also in the insurance industry is important based on administrative reform plan, which is required to provide quality services and meet customers' demands. This study aims to assess the factors influencing the positive words of mouth in the insurance services market. The population is Iran insurance company's customers in Guilan and 409 individuals were selected by simple random sampling. To collect data, a questionnaire was used and structural equation SEM and LISREL software was used to analyze the data. The findings indicate a significant positive relationship between all aspects of service quality and customer satisfaction. The results indicate that there was a significant positive relationship between customer satisfaction and customer words of mouth. Therefore, we can conclude that there were significant positive relationships between the dimensions of service quality with customer satisfaction and customer words of mouth in Iran insurance company in Guilan province.

  8. Powerful agent of change? The global insurance industry as a driver for greenhouse mitigation and adaptation

    International Nuclear Information System (INIS)

    Phelan, Liam; Taplin, Ros

    2007-01-01

    Full text: This paper explores the potential for the gloPal insurance industry to play a powerful and constructive role towards significant reductions in greenhouse gas emissions as well as in climate change adaptation. Climate change presents a formidable public policy challenge (IPCC 2001) and one to which sections of the insurance industry have been responsive (Mills 2005). The industry can be expected to play a further constructive role for three reasons: the industry has core capacities in risk management and loss prevention; the industry is the world's largest with annual income in the order of US$3.4 trillion derived from premiums and US$1 trillion derived from investments; and anthropogenic climate change is constricting limits to insurability, with implications for the ongoing functioning of the insurance sector (Mills and Lecomte 2006). Insurance understood as a social institution is both a crucial component of contemporary socio-economic systems and a powerful agent of socio-economic change (Pfeffer and Klock 1974, Denenberg et al. 1964). The ability to transfer risk historically has played a major facilitative role in economic and social development at the broadest scales of human socio-economic systems (Supple 1984; Clark 1999). Governments historically and currently explicitly harness the potential of insurance in support of specific public policy outcomes. The creation of the modern welfare state is a public policy objective on a grand scale achieved in part through application of insurance, in the form of universal health care and pensions (Lengwiler2003). The insurance industry itself also initiates significant socioeconomic change in three ways: direct engagement, for example by establishing the first fire brigades (Kline 1964a); loss prevention research, for example by conducting and financing research into building and vehicle safety (Mills and Lecomte 2006; Kline 1964b); and engaging in lobbying for implementation of safety standards (Kline

  9. Tools used by the insurance industry to assess risk from hydroclimatic extremes

    Science.gov (United States)

    Higgs, Stephanie; McMullan, Caroline

    2016-04-01

    Probabilistic catastrophe models are widely used within the insurance industry to assess and price the risk of natural hazards to individual residences through to portfolios of millions of properties. Over the relatively short period that catastrophe models have been available (almost 30 years), the insurance industry has built up a financial resilience to key natural hazards in certain areas (e.g. US tropical cyclone, European extra-tropical cyclone and flood). However, due the rapidly expanding global population and increase in wealth, together with uncertainties in the behaviour of meteorological phenomena introduced by climate change, the domain in which natural hazards impact society is growing. As a result, the insurance industry faces new challenges in assessing the risk and uncertainty from natural hazards. As a catastrophe modelling company, AIR Worldwide has a toolbox of options available to help the insurance industry assess extreme climatic events and their associated uncertainty. Here we discuss several of these tools: from helping analysts understand how uncertainty is inherently built in to probabilistic catastrophe models, to understanding alternative stochastic catalogs for tropical cyclone based on climate conditioning. Through the use of stochastic extreme disaster events such as those provided through AIR's catalogs or through the Lloyds of London marketplace (RDS's) to provide useful benchmarks for the loss probability exceedence and tail-at-risk metrics outputted from catastrophe models; to the visualisation of 1000+ year event footprints and hazard intensity maps. Ultimately the increased transparency of catastrophe models and flexibility of a software platform that allows for customisation of modelled and non-modelled risks will drive a greater understanding of extreme hydroclimatic events within the insurance industry.

  10. The European Insurance Industry: A PEST Analysis

    Directory of Open Access Journals (Sweden)

    Charmaine Barbara

    2017-05-01

    Full Text Available The insurance industry plays an important role for European economic stability and the threats and opportunities it faces should be carefully determined. In this paper we highlight the main challenges by using a Political, Economic, Social and Technological (PEST analysis. This work applies conventional actuarial thought on this area by focusing strictly on the European sector.

  11. Collusion in the Dutch construction industry: an industrial organization perspective

    NARCIS (Netherlands)

    Doree, Andries G.

    2004-01-01

    Several investigations by parliament, cabinet, justice and antitrust authorities have shown a widespread use of cartels and structural bid rigging within the Dutch construction industry. The reputation of the Dutch construction industry has been dented with both the general public and clients. As a

  12. The U.S. Nuclear Regulatory Commission's antitrust review of nuclear power plants: the conditioning of licenses

    International Nuclear Information System (INIS)

    Penn, D.W.; Delaney, J.B.; Honeycutt, T.C.

    1976-04-01

    The 1970 amendments to Section 105 of the Atomic Energy Act require the Nuclear Regulatory Commission to conduct a prelicensing antitrust review of applications for licenses to construct and operate nuclear power plants. The Commission must make a finding as to whether the granting of a license 'would create or maintain a situation inconsistent with the antitrust laws,' and it has the authority to issue or continue a license, to refuse to issue a license, to rescind or amend a license, and to issue a license with conditions that it deems appropriate. This report provides information about the antitrust license conditions that have resulted from the NRC's antitrust review process. The process itself is described and a catalog of the applications requiring antitrust license conditions is presented. For each application, the license conditions are put into the general categories of unit access, transmission services, coordination, and contractual provisions. For completeness, the report also catalogs applications requiring no antitrust license conditions, and lists applications that were exempted from the 1970 amendments, are the subject of litigation, or have been withdrawn

  13. Evaluating the Impact of Health Insurance Industry Consolidation: Learning from Experience.

    Science.gov (United States)

    Dafny, Leemore S

    2015-11-01

    Research shows consolidation in the private health insurance industry leads to premium increases, even though insurers with larger local market shares generally obtain lower prices from health care providers. Additional research is needed to understand how to protect against harms and unlock benefits from scale. Data on enrollment, premiums, and costs of commercial health insurance--by insurer, plan, customer segment, and local market--would help us understand whether, when, and for whom consolidation is harmful or beneficial. Such transparency is common where there is a strong public interest and substantial public regulation, both of which characterize this vital sector.

  14. 41 CFR 105-55.003 - Antitrust, fraud, tax, interagency claims, and claims over $100,000 excluded.

    Science.gov (United States)

    2010-07-01

    ... apply to any debt based in whole or in part on conduct in violation of the antitrust laws or to any debt... antitrust laws or any claim involving fraud, the presentation of a false claim, or misrepresentation on the... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Antitrust, fraud, tax...

  15. The emerging response of the insurance industry to the threat of climate change

    International Nuclear Information System (INIS)

    Leggett, J.

    1994-01-01

    The insurance industry is waking up fast to the threat anthropogenic enhancement of the greenhouse effect poses to its future market security. This has been in large measure because of a suspicious escalation in losses from windstorms and drought-related wildfire in recent years. Articulating worst-case analysis fears of a global-warming future, senior industry figures in London, Zurich, Munich, Tokyo and New York have spoken of the potential for a global collapse of the insurance industry. Such an eventuality would have negative consequences in many areas of economic activity. These consequences have been little explored or appreciated in the climate-change debate to date. In some developing countries, meanwhile, withdrawal of catastrophe insurance cover is already threatening development. (author). 16 refs

  16. Legally speaking: Federal Trade Commission issues positive advisory opinions on antitrust implications of clinical integration.

    Science.gov (United States)

    Wright, Robert

    2009-10-01

    From time to time, groups of physicians in an area may determine that they would benefit from "integrating" their practices into an IPA, PHO, or other joint venture. The anticipated benefits may include economies of scale, the ability to coordinate care between primary care physicians and specialists, providing disease management services for patients with certain conditions, or a myriad of other reasons. A key characteristic of these proposed integrated models is the ability for the group as a whole to negotiate with insurance companies and self-funded health care plans. When a group reaches the point of negotiating collectively for the fees that a pay- or is going to pay for various services throughout the plan, possible antitrust implications arise.

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

    Science.gov (United States)

    Robinson, James C

    2006-01-01

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

  18. Performance of the Dutch non-life insurance industry: competition, efficiency and focus

    NARCIS (Netherlands)

    Bikker, J.A.; Gorter, J.

    This paper investigates competition in the Dutch non-life insurance industry indirectly by measuring scale economies and X-inefficiency, assuming that strong competition would force insurance firms to exploit unused scale economies and to push down inefficiencies. We observe substantial economies of

  19. Judicial Review of Antitrust Decisions: Q&A

    Directory of Open Access Journals (Sweden)

    Roberto Giovagnoli

    2015-07-01

    Full Text Available The RIA/IAR asked several experts to give their opinion on the Italian system of judicial review of antitrust decisions and its compatibility with art. 6 of the ECHR following a set of common questions.

  20. Implications of genetic testing for the insurance industry: the UK example.

    Science.gov (United States)

    Raeburn, Sandy

    2002-01-01

    This report summarises the controversy of genetic tests and insurance, with a focus on the UK situation during the past decade. UK experience provides insight for future strategies to help people with genetic disadvantages make insurance provision for themselves and their families. Non-disclosure of genetic test results (already carried out for clinical purposes) may not benefit people at risk of genetic disorders or with positive genetic tests. The pressure of geneticists over a decade to prevent disclosure to insurers may have masked opportunities to use insurance to provide help for people with genetic disadvantages. To seize the opportunities now, there must be collaboration, not conflict. Politicians, geneticists, social scientists and all elements of the insurance industry can contribute to wise solutions.

  1. A Re-examination of Online Marketing Strategies for Graduate Recruitment in the Insurance Industry

    OpenAIRE

    Rana, Zain

    2010-01-01

    "Cynics sometimes refer to the insurance industry as boring, old-fashioned and bureaucratic. What can Zurich do to challenge such misconceptions and better market themselves to potential graduate applicants?” In recent times, there has been a noticeable shortfall in graduate level applications to insurance firms. The industry is now facing problems of an ageing workforce and are undergoing difficulty attracting graduates, as compared to other industry sectors such as a banking, fi...

  2. Impact of the antitrust laws on the commercialization of solar heating and cooling

    Energy Technology Data Exchange (ETDEWEB)

    Gross, J.

    1979-06-01

    Many energy industry observers and solar equipment producers view the commercialization of solar technologies as an opportunity to undermine the dominance now enjoyed by energy companies and electric utilities. Whether their hopes will be realized depends on Congress' posture towards interenergy diversification (which is currently permissive), DOE's spending practices (which have, in the past, been relatively insensitive to competitive consequences), and ultimately, the Supreme Court's willingness to aggressively enforce the antitrust laws (which is not unlikely, given recent holdings). Notwithstanding the legislative and administrative branches' tacit compliance with entrenched firms' involvement in the various solar energy submarkets, injured business persons and consumers (as well as the Department of Justice and the Federal Trade Commission) have the opportunity to force the controversy onto the judiciary by bringing suit under the antitrust laws against companies allegedly displaying anti-competitive market practices. The interchangeability between end uses of renewable and nonrenewable energy resources creates opportunities and motives for market manipulation. Consequently, the potential of energy firms for facilitating solar technology development (due to technological knowledge, managerial expertise and capital resources) must be weighed against the possibility that their involvement will, in the long run, retard development. 356 references.

  3. Fire protection requirements of the insurance industry and their impact on nuclear power plant design and construction

    International Nuclear Information System (INIS)

    Deitchman, J.V.; King, W.T. Jr.; Nashman, T.A.

    1976-01-01

    The insurance industry, with its wealth of knowledge and experience in the fire protection area and with preservation of its funds at stake, has always been heavily involved in the fire protection programs of nuclear power plants. Since it was concerned with property preservation in addition to nuclear safety, the insurance industry placed more detailed emphasis on fire protection requirements than did the nuclear regulatory bodies. Since the Browns Ferry fire, however, the insurance industry, the Nuclear Regulatory Commission, the Advisory Committee on Reactor Safeguards and the utilities themselves have re-examined their approaches to fire protection. A more coordinated approach seems to have emerged, which is based largely upon insurance industry specifications and guidelines. The paper briefly summarizes the fire protection requirements of the insurance industry as they apply to nuclear power plants. Some of the ways these requirements affect project planning, plant design, and construction timing are reviewed, as well as some of the more controversial fire protection areas

  4. The European Commission Proposal for a Directive on Antitrust Damages: A First Assessment

    NARCIS (Netherlands)

    Cauffman, C.

    2013-01-01

    On 11 June 2013 the European Commission adopted a package of instruments to facilitate damages claims by victims of antitrust damages. The main element of the package is a proposal for a directive on antitrust damages. The aim of this article is to give an overview of the content of the proposed

  5. PARTICULARITIES OF THE MARKETING ACTIVITY IN THE INSURANCE INDUSTRY

    Directory of Open Access Journals (Sweden)

    Pop Nicolae Al.

    2009-05-01

    Full Text Available In the insurance industry there is a new way of thinking which determined the passage from transactional marketing to a holistic marketing concept. In this paper five key elements of holistic marketing are presented: relationship marketing, integrated mar

  6. Sharing, samples, and generics: an antitrust framework.

    Science.gov (United States)

    Carrier, Michael A

    Rising drug prices are in the news. By increasing price, drug companies have placed vital, even life-saving, medicines out of the reach of consumers. In a recent development, brand firms have prevented generics even from entering the market. The ruse for this strategy involves risk-management programs known as Risk Evaluation and Mitigation Strategies ("REMS"). Pursuant to legislation enacted in 2007, the FDA requires REMS when a drug's risks (such as death or injury) outweigh its rewards. Brands have used this regime, intended to bring drugs to the market, to block generic competition. Regulations such as the federal Hatch-Waxman Act and state substitution laws foster widespread generic competition. But these regimes can only be effectuated through generic entry. And that entry can take place only if a generic can use a brand's sample to show that its product is equivalent. More than 100 generic firms have complained that they have not been able to access needed samples. One study of 40 drugs subject to restricted access programs found that generics' inability to enter cost more than $5 billion a year. Brand firms have contended that antitrust law does not compel them to deal with their competitors and have highlighted concerns related to safety and product liability in justifying their refusals. This Article rebuts these claims. It highlights the importance of samples in the regulatory regime and the FDA's inability to address the issue. It shows how a sharing requirement in this setting is consistent with Supreme Court caselaw. And it demonstrates that the brands' behavior fails the defendant-friendly "no economic sense" test because the conduct literally makes no sense other than by harming generics. Brands' denial of samples offers a textbook case of monopolization. In the universe of pharmaceutical antitrust behavior, other conduct--such as "pay for delay" settlements between brands and generics and "product hopping" from one drug to a slightly modified

  7. Efficiency concept and investigations in insurance industry: A survey

    Directory of Open Access Journals (Sweden)

    Bilel Jarraya

    2013-01-01

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

  8. Understanding Antitrust Laws, Competition, the Economy, and Their Impact on Our Everyday Lives

    Science.gov (United States)

    Hawke, Catherine, Ed.; Middleton, Tiffany Willey, Ed.

    2011-01-01

    This article presents an interview with Edward Biester, an attorney and a member of the ABA Section of Antitrust Law, who recently led the Section's initiative to develop a curriculum for high school students. In this interview, Biester discusses the history of American antitrust laws, looks at some of the contemporary issues, and highlights the…

  9. Using ITS to Create an Insurance Industry Application: A Joint Case Study.

    Science.gov (United States)

    Boies, Stephen J.; And Others

    1993-01-01

    Presents an empirical case study of the use of ITS, a software development environment designed by IBM, by Continental Insurance for underwriting applications. Use of a rule-based user interface style that made electronic forms look like standard insurance industry paper forms and worked according to Continental's guidelines is described.…

  10. Evaluating viral marketing: isolating the key criteria in insurance industry

    Directory of Open Access Journals (Sweden)

    Maria Gooyandeh Hagh

    2015-06-01

    Full Text Available This paper presents an empirical investigation to determine the key criteria that viral marketing practitioners believe should be implemented to measure about the success of viral marketing campaigns in insurance industry. The study designs a questionnaire in Likert scale where the effects of four independent variables, personal, message, media and tools characteristics are measured on an Iranian insurance firm’s reputation as well as service expansion. Cronbach alphas were measured for all components of the survey and they were all well above the minimum acceptable level. Using regression analysis, the study has determined positive and meaningful relationships between insurance firm’s reputation as well as service expansion and four independent variables.

  11. 48 CFR 245.7310-8 - Antitrust clearance.

    Science.gov (United States)

    2010-10-01

    ..., DEPARTMENT OF DEFENSE CONTRACT MANAGEMENT GOVERNMENT PROPERTY Sale of Surplus Contractor Inventory 245.7310-8... acceptance of its bid. Award shall be made only upon advice from the Department of Justice that the proposed sale would not create or maintain a situation inconsistent with the antitrust laws. ...

  12. Industry Wage Surveys: Banking and Life Insurance, December 1976. Part I--Banking. Part II--Life Insurance. Bulletin 1988.

    Science.gov (United States)

    Barsky, Carl

    This report presents the results of a survey conducted by the Bureau of Labor Statistics to determine wages and related benefits in (1) the banking industry and (2) for employees in home offices and regional head offices of life insurance carriers. Part 1 discusses banking industry characteristics and presents data for tellers and selected…

  13. Incorporating health care quality into health antitrust law

    Science.gov (United States)

    2008-01-01

    Background Antitrust authorities treat price as a proxy for hospital quality since health care quality is difficult to observe. As the ability to measure quality improved, more research became necessary to investigate the relationship between hospital market power and patient outcomes. This paper examines the impact of hospital competition on the quality of care as measured by the risk-adjusted mortality rates with the hospital as the unit of analysis. The study separately examines the effect of competition on non-profit hospitals. Methods We use California Office of Statewide Health Planning and Development (OSHPD) data from 1997 through 2002. Empirical model is a cross-sectional study of 373 hospitals. Regression analysis is used to estimate the relationship between Coronary Artery Bypass Graft (CABG) risk-adjusted mortality rates and hospital competition. Results Regression results show lower risk-adjusted mortality rates in the presence of a more competitive environment. This result holds for all alternative hospital market definitions. Non-profit hospitals do not have better patient outcomes than investor-owned hospitals. However, they tend to provide better quality in less competitive environments. CABG volume did not have a significant effect on patient outcomes. Conclusion Quality should be incorporated into the antitrust analysis. When mergers lead to higher prices and lower quality, thus lower social welfare, the antitrust challenge of hospital mergers is warranted. The impact of lower hospital competition on quality of care delivered by non-profit hospitals is ambiguous. PMID:18430219

  14. Incorporating health care quality into health antitrust law

    Directory of Open Access Journals (Sweden)

    Schneider Helen

    2008-04-01

    Full Text Available Abstract Background Antitrust authorities treat price as a proxy for hospital quality since health care quality is difficult to observe. As the ability to measure quality improved, more research became necessary to investigate the relationship between hospital market power and patient outcomes. This paper examines the impact of hospital competition on the quality of care as measured by the risk-adjusted mortality rates with the hospital as the unit of analysis. The study separately examines the effect of competition on non-profit hospitals. Methods We use California Office of Statewide Health Planning and Development (OSHPD data from 1997 through 2002. Empirical model is a cross-sectional study of 373 hospitals. Regression analysis is used to estimate the relationship between Coronary Artery Bypass Graft (CABG risk-adjusted mortality rates and hospital competition. Results Regression results show lower risk-adjusted mortality rates in the presence of a more competitive environment. This result holds for all alternative hospital market definitions. Non-profit hospitals do not have better patient outcomes than investor-owned hospitals. However, they tend to provide better quality in less competitive environments. CABG volume did not have a significant effect on patient outcomes. Conclusion Quality should be incorporated into the antitrust analysis. When mergers lead to higher prices and lower quality, thus lower social welfare, the antitrust challenge of hospital mergers is warranted. The impact of lower hospital competition on quality of care delivered by non-profit hospitals is ambiguous.

  15. Antitrust rules and Intellectual Property Rights in the EU and the US – Towards convergence?

    Directory of Open Access Journals (Sweden)

    Mario Todino

    2014-07-01

    Full Text Available In light of the exponential increase of the number of investigations raising the issue of how to reconcile competition rules and Intellectual Property Rights (IPRs, it is now clear that the area of Antitrust/IP intersection is becoming the battleground of antitrust enforcers around the Globe. In some areas inherently prone to market power accumulation, antitrust rules tend to clash with IPRs and prevail over the latter, for the intensity in the application of competition rules increasingly depends on the strength of the IPRs at stake, as well as on the sector involved. Information Communication Technology and Pharmaceuticals are the sectors most affected by this trend, as they both display specific market features calling for intensive antitrust scrutiny. Surprisingly enough, in these areas the EU and the US agencies are heading towards convergence, in light of the decisions taken in cases such as the judicial injunctions sought by FRAND-pledged SEPs holders and the reverse settlements in the Pharma sector. The purpose of this article is to show that in those areas more exposed to tension between antitrust and IP rules, there is an increasing level of convergence between the US and the EU. In particular, it is submitted that, like in the EU, the US is departing from the traditional symmetry principle under which antitrust rules are applied to IPRs exactly the same way as other property rights. In this new framework, inconsistency is more likely to come from the enforcement activity of NCAs across Europe.

  16. What new policies should South Africa's life insurance industry adopt?

    Science.gov (United States)

    Solomon, G

    1996-12-01

    By February 1996, the South African life insurance industry had paid out more than R75 million in AIDS-related claims. This situation requires imposition of controls that will make economic sense while reflecting the social responsibility of the insurance companies. AIDS mortality rates suggest that for each 10% of the infected insured population, the risk premium rates should increase 400%. Thus, without controls, the life insurance sector may collapse. While it has been charged that HIV testing associated with the provision of life insurance discriminates against infected individuals, failure to test compromises the rights of uninfected individuals in the individual assurance market. HIV test protocols can be used that protect applicants from false positive results, prevent fraud, and preserve confidentiality. Proposals to require five-year retesting have also been criticized but would protect the interests of uninfected individuals who want life insurance to remain affordable. In an innovative move, South Africa now includes "full-blown AIDS" among the list of "dreaded diseases" that trigger an immediate pay-out. While purchasing life insurance may fall low on the list of priorities of an infected person, demand continues, and two companies offer expensive products to those with Stage I and II disease. Medical insurance is also threatened by the increased costs associated with HIV/AIDS, and treatment protocols may be the only way to control medical expenses and assure the future of medical insurance. At this stage of the epidemic, no one seems prepared to meet their share of the costs associated with HIV/AIDS.

  17. An analysis of physician antitrust exemption legislation: adjusting the balance of power.

    Science.gov (United States)

    Hellinger, F J; Young, G J

    2001-07-04

    Current antitrust law restricts physicians from joining together to collectively negotiate. However, such activities may be approved by state laws under the so-called state action immunity doctrine and by federal legislation under an explicit antitrust exemption. In 1999, Texas became the first state to pass physician antitrust exemption legislation allowing physicians, under certain defined circumstances, to collectively negotiate fees with health plans. Last year, similar legislation was introduced in the US Congress, in 18 state legislatures, and in the District of Columbia. This legislation was passed only in the District of Columbia where its implementation was blocked by the city's financial control board. Nonetheless, legislation permitting physicians to collectively negotiate fees with managed care plans has been introduced in 10 state legislatures this year, and there is continued interest in introducing similar legislation in the US Congress. This analysis examines the basic features of this legislation and its potential impact on the balance of power between physicians and managed care plans.

  18. Operational risk quantification and modelling within Romanian insurance industry

    Directory of Open Access Journals (Sweden)

    Tudor Răzvan

    2017-07-01

    Full Text Available This paper aims at covering and describing the shortcomings of various models used to quantify and model the operational risk within insurance industry with a particular focus on Romanian specific regulation: Norm 6/2015 concerning the operational risk issued by IT systems. While most of the local insurers are focusing on implementing the standard model to compute the Operational Risk solvency capital required, the local regulator has issued a local norm that requires to identify and assess the IT based operational risks from an ISO 27001 perspective. The challenges raised by the correlations assumed in the Standard model are substantially increased by this new regulation that requires only the identification and quantification of the IT operational risks. The solvency capital requirement stipulated by the implementation of Solvency II doesn’t recommend a model or formula on how to integrate the newly identified risks in the Operational Risk capital requirements. In this context we are going to assess the academic and practitioner’s understanding in what concerns: The Frequency-Severity approach, Bayesian estimation techniques, Scenario Analysis and Risk Accounting based on risk units, and how they could support the modelling of operational risk that are IT based. Developing an internal model only for the operational risk capital requirement proved to be, so far, costly and not necessarily beneficial for the local insurers. As the IT component will play a key role in the future of the insurance industry, the result of this analysis will provide a specific approach in operational risk modelling that can be implemented in the context of Solvency II, in a particular situation when (internal or external operational risk databases are scarce or not available.

  19. 48 CFR 3.303 - Reporting suspected antitrust violations.

    Science.gov (United States)

    2010-10-01

    ... suspect. Paragraph (c) below identifies behavior patterns that are often associated with antitrust... offers; (2) A sudden change from competitive bidding to identical bidding; (3) Simultaneous price... turn in sequence as low bidder, or so that certain competitors bid low only on some sizes of contracts...

  20. The role of the health insurance industry in perpetuating suboptimal pain management.

    Science.gov (United States)

    Schatman, Michael E

    2011-03-01

    Unlike pain practitioners, health care insurers in the United States are not expected to function according to a system of medical ethics. Rather, they are permitted to function under the business "ethic" of cost-containment and profitability. Despite calls for balancing the disparate agendas of stakeholders in pain management in a pluralistic system, the health insurance industry has continued to fail to take the needs of suffering chronic pain patients into consideration in developing and enacting their policies that ultimately dictate the quality and quantity of pain management services available to enrollees. This essay examined these self-serving strategies, which include failure to reimburse services and certain medications irrespective of their evidence-bases for clinical efficacy and cost-efficiency; "carving out" specific services from interdisciplinary treatment programs; and delaying and/or interrupting the provision of medically necessary treatment. Blatant and more subtle strategies utilized by insurers to achieve these ethically questionable goals are examined. Additionally, this essay addressed some of the insurance industry's efforts to delegitimize chronic pain and its treatment as a whole. The author concludes that the outlook for chronic pain sufferers is not particularly bright, until such time that a not-for-profit single-payer system replaces the current treatment/reimbursement paradigm. Wiley Periodicals, Inc.

  1. The Intersection of Advertising and Antitrust in New Zealand

    OpenAIRE

    Andrew Matthews; Gus Stewart

    2014-01-01

    The enforcement fusion of (some) advertising and antitrust law, coupled with other advertising law, provide a powerful toolkit for New Zealand’s regulator and competitors alike. Andrew Matthews & Gus Stewart (Matthews Law)

  2. 28 CFR 48.7 - Report of the Assistant Attorney General in Charge of the Antitrust Division.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Report of the Assistant Attorney General... (CONTINUED) NEWSPAPER PRESERVATION ACT § 48.7 Report of the Assistant Attorney General in Charge of the Antitrust Division. (a) The Assistant Attorney General in charge of the Antitrust Division shall, not later...

  3. The transfer of a health insurance/managed care business.

    Science.gov (United States)

    Gavin, John N; Goodman, George; Goroff, David B

    2007-01-01

    The owners of a health insurance/managed care business may want to sell that business for a variety of reasons. Health care provider systems may want to exit that business due to operating losses, difficulty in complying with regulations, the inherent conflict in operating that business as part of a provider system, or the desire to focus on being a health care provider. Health insurers/HMOs may want to sell all or a portion of their business due to operating losses, difficulty in servicing a particular market, or a desire to focus on other markets. No matter what reason prompts a seller to undertake a sale, a sale of health insurance/managed care business can be a complicated transaction involving a multitude of issues. This article will focus first on the ways in which such a sale may be structured. The article will then discuss some transactional issues that may arise in the negotiations for the sale of a health insurance/managed care business. The article will then focus on some particular legal issues that arise in each sale-e.g., antitrust, HIPAA, regulatory approvals, and charitable issues. Finally, this article will provide an overview of tax structuring considerations.

  4. Technical change in US industry: A cross-industry analysis

    Science.gov (United States)

    Nelson, R. R. (Editor)

    1981-01-01

    The nature of the public policies which have influenced the pace and pattern of technical progress in a number of American industries is studied with the view of assessing the broad effects of these policies. The industries studied are agriculture, pharmaceuticals, semiconductors, computers, civil aircraft, automobiles and residential construction. The policies considered include research and development funding as well as government procurement, education, information dissemination, patent protection, licensing, regulations, and anti-trust policies.

  5. Understanding Insurance. A Guide for Industrial Cooperative Training Programs. Learning Activity Package No. 15.

    Science.gov (United States)

    Duenk, Lester G.; Tuel, Charles

    This learning activity package (LAP) on the insurance industry and the methods used to give protection to the insured is designed for student self-study. Following a list of learning objectives, the LAP contains a pretest (answer key provided at the back). Six learning activities follow. The learning activities cover the following material: terms…

  6. An economic analysis of leniency programs in antitrust law

    NARCIS (Netherlands)

    Hinloopen, J.

    2003-01-01

    Within a dynamic market environment the forces that drive the effectiveness of leniency programs in antitrust law are analyzed. This effectiveness unambigously is enhanced by (i) increasing the reduction in fine payments in return for reporting a cartel, and (ii) increasing the expected per-period

  7. Sequential Versus Simultaneous Market Delineation: The Relevant Antitrust Market for Salmon

    DEFF Research Database (Denmark)

    Haldrup, Niels; Peter, Møllgaard

    Delineation of the relevant market forms a pivotal part of most antitrust cases. The standard approach is sequential. First the product market is delineated, then the geographical market is defined. Demand andsupply substitution in both the product dimension and the geographical dimension will no...... and geographical markets. Using a unique data set for prices of Norwegian and Scottish salmon, we propose a methodology for simultaneous market delineation and we demonstrate that compared to a sequential approach conclusions will be reversed.......Delineation of the relevant market forms a pivotal part of most antitrust cases. The standard approach is sequential. First the product market is delineated, then the geographical market is defined. Demand andsupply substitution in both the product dimension and the geographical dimension...

  8. Climate change and the insurance industry. The cost of increased risk and the impetus for action

    International Nuclear Information System (INIS)

    Tucker, Michael

    1997-01-01

    A convincing economic argument for taking action to prevent or ameliorate climate change has not developed because of both uncertainty about the degree of change and its timing. Recent costly weather-related catastrophes with consequent negative impacts on the insurance industry has made the insurance industry a potential advocate for slowing what has been identified as a causal factor in climate change: emissions of greenhouse gases. However, rising costs of claims, without a longer-term trend of such catastrophic losses, will make it difficult to present a strong case for taking costly economic action. Using the Black Scholes Option Pricing Model, it is shown that increasing levels of climate variability as embedded in the anticipated variability of damage to insured assets will have an immediate economic cost that could serve to bolster the argument for more immediate action. That cost is shown to be economically justified higher insurance premiums

  9. 76 FR 77442 - Mutual Insurance Holding Company Treated as Insurance Company

    Science.gov (United States)

    2011-12-13

    ... 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...

  10. Chinese nuclear insurance and Chinese nuclear insurance pool

    International Nuclear Information System (INIS)

    Gong Zhiqi

    2000-01-01

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

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

    Science.gov (United States)

    Fulton, Wallace C.

    1974-01-01

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

  12. 28 CFR Appendix to Subpart B of... - Redelegation of Authority to the Deputy Assistant Attorney General for Litigation, Antitrust...

    Science.gov (United States)

    2010-07-01

    ... Assistant Attorney General for Litigation, Antitrust Division, To Authorize Production or Disclosure of... Assistant Attorney General for Litigation, Antitrust Division, To Authorize Production or Disclosure of... described in 28 CFR 16.21(a) is hereby redelegated to the Deputy Assistant Attorney General for Litigation...

  13. Competition And Antitrust Law In Ecuadorian Constitution

    OpenAIRE

    Marcelo Marín Sevilla

    2013-01-01

    This work allows us to establish the Economic Constitution and the Competition Law (C.L) in the Constitution. Additionally, the paper analyzes whether the rules outlined in the C. L. and in doctrine are consistent and appropriate with the Constitution of Ecuador. The Competition and Antitrust Laws has rules for investigating and punishing the cartels, the abuses of power market (dominant position), the rules for merger control, the behaviors of Abuse of economic dependence, and unfair competi...

  14. Antitrust Enforcement Under Endogenous Fines and Price-Dependent Detection Probabilities

    NARCIS (Netherlands)

    Houba, H.E.D.; Motchenkova, E.; Wen, Q.

    2010-01-01

    We analyze the effectiveness of antitrust regulation in a repeated oligopoly model in which both fines and detection probabilities depend on the cartel price. Such fines are closer to actual guidelines than the commonly assumed fixed fines. Under a constant detection probability, we confirm the

  15. European Union Antitrust Enforcement against Cartels – Priorities in the Context of Globalisation of Business and Economic Crisis

    Directory of Open Access Journals (Sweden)

    Iordache Lucia

    2014-07-01

    Full Text Available In the context of globalisation and EU member states’ efforts to overcome the difficulties of the economic crisis, realising the full potential of the Single Market is the main component of a credible plan for higher and sustainable growth in the EU. Competition policy is the central pillar of the Single Market. A strong antitrust enforcement, especially fighting cartels and preventing the creation of new ones, is at the core of open and fair pan-European markets, higher productivity and growth across Europe. This article summarizes the activities of the European Commission for the investigation and sanctioning of companies involved in cartels, focusing on the effectiveness of preventive policy of the Commission in antitrust enforcement, reflected in particular by the evolution of the fines imposed in cartel cases. The analysis outlines how antitrust policy contributes to strengthening the single market and the EU economic growth and examines the challenges for the implementation of antitrust policy caused by the changes in the dynamics and complexity of the economic environment, at the national and international level.

  16. Market-based implementation of Kyoto commitments: how the financial/insurance sector can support industry

    International Nuclear Information System (INIS)

    Knoepfel, Ivo

    1999-01-01

    The implementation of the Kyoto Protocol in the context of the Framework Convention on Climate Change will probably lead to economic winners and losers in various sectors of the economy. Especially carbon intensive industries will need to develop hedging strategies to prevent potential negative effects and to optimise market opportunities. Such strategies can be based on technological innovation, market and product diversification, and on financial/legal offsets. The Kyoto Protocol has introduced new market-based instruments, which can, in a near future provide such hedging opportunities. These include joint implementation, the so-called clean development mechanism, and international emissions trading. The financial services and insurance sector are the natural partners of industry in designing tailored hedging strategies. It is recommended that industry, financial services and insurance companies take a more proactive role in further developing the market-based instruments established by the Kyoto Protocol. (Author)

  17. Current situation and issue of Industrial Accident Compensation insurance.

    Science.gov (United States)

    Kim, Inah; Rhie, Jeongbae; Yoon, Jo-Duk; Kim, Jinsoo; Won, Jonguk

    2012-05-01

    Industrial Accident Compensation Insurance (IACI) has a history of about 50 yr, and is the oldest social insurance system in Korea. After more than 20 times of revision improvements in benefits, its contents and claim systems have been upgraded. It became the protector of injured workers and their families, and at the same time became the system which could cope with both financial burden of employers and their responsibilities. However, there are some issues to be reformed to upgrade the IACI: 1) the problems in the approval system of occupational diseases, 2) quality improvement of workers' compensation medical care, 3) vocational rehabilitation and return to work, 4) workers' compensation premiums and out-of-pocket money of injured workers, 5) issues in application of IACI. Growth of IACI cannot be achieved by an effort of an individual. Efforts by workers, owners, and government, in addition to physicians and welfare professionals toward the same goal are required for the next level improvement of IACI.

  18. Institutional Aspects of European Commission Guidance in the Area of Antitrust Law

    OpenAIRE

    Ben Smulders

    2009-01-01

    From an institutional law perspective, the question arises how to qualify the more than thirty existing communications, notices and guidelines which the Commission has issued in the area of antitrust law.

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

    Science.gov (United States)

    Sane, Bhagyashree

    2011-01-01

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

  20. European antitrust policy 1957-2004: an analysis of Commission decisions

    NARCIS (Netherlands)

    Carree, M.; Günster, A.; Schinkel, M.P.

    2010-01-01

    This paper provides a survey of European antitrust law enforcement since its foundation in the Treaty of Rome of 1957 up to and including 2004. We present a complete overview and statistical analysis of all 538 formal Commission decisions under Articles 81, 82, and 86 of the European Community

  1. An Exploratory Study of Advancing Mobilization in the Life Insurance Industry: The Case of Taiwan's Nan Shan Life Insurance Corporation.

    Science.gov (United States)

    Luarn, Pin; Lin, Tom M. Y.; Lo, Peter K. Y.

    2003-01-01

    Employs a case study method, using in-depth interviews of 29 corporate managers and experts, to understand the current state of mobilization in the life insurance industry. Suggests a conceptual framework and formulates possible research propositions incorporating several variables. Suggests 10 key success factors for implementing mobilization in…

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

    Directory of Open Access Journals (Sweden)

    Qiuying Li

    2014-02-01

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

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

    Directory of Open Access Journals (Sweden)

    Wang Ying

    2017-07-01

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

  4. European antitrust policy 1957-2004: An analysis of Commission decisions

    NARCIS (Netherlands)

    Carree, M.; Günster, A.; Schinkel, M.P.

    2008-01-01

    This paper provides a survey of European antitrust law enforcement since its foundation in the Treaty of Rome of 1957. We present a complete overview and statistical analysis of all 538 formal Commission decisions adopted up to 2004 under Articles 81, 82 and 86 of the European Community Treaty. We

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

    Directory of Open Access Journals (Sweden)

    Abass, OlufemiAdebowale

    2016-11-01

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

  6. Rethinking Economics, the Role of Insurance: Adam Smith Upside Down—The Central Role of Insurance in the New Post-Industrial (Service Economy

    Directory of Open Access Journals (Sweden)

    Orio Giarini

    2016-10-01

    Full Text Available In the first page of The Wealth of Nations, Adam Smith described an apparently trivial issue, the making of a pin. In his search for ways to effectively fight poverty, he formulated the basis for a new view of economy based on the Industrial Revolution. Two centuries later, the perspective he developed remains intact and is largely outdated. It does not reflect the radical shift from an industrial to a service economy, which occurred during the later half of the 20th century and prevails today. Insurance, a very important component of the modern service economy, was and has been ignored or dismissed by past and contemporary economists. Founded on the principle of uncertainty, insurance now provides the basis for valuable insights into the unique characteristics of the service economy. A rethinking of economics is needed from this perspective.

  7. Liability and Insurance for Radioactive Installations, Radioisotopes and Other Substances in Their Use in Medicine, Industry etc

    International Nuclear Information System (INIS)

    Repova, Z.

    2008-01-01

    This paper deals with matters concerning so called s mall TPL risks , in particular third party liability insurance for damages caused by the operation of ionising radiation sources used in the radiopharmaceutical industry, medical research, accelerators, roentgen machines in hospitals, defectoscopes etc. in the Slovak Republic. The main reason for the demand for such insurance was the introduction of a new act related to radiation protection. Commercial insurance companies have no extensive experience with the insurance of ionising radiation and were not prepared to cover such a specific risk. Therefore, the Slovak Nuclear Insurance Pool (SNIP) decided to expand its portfolio by writing this risk in 2004. The writing of this risk through SNIP has several advantages for its Members, the most important being saving costs, using centralised expert know-how and the absence of the necessity to take recourse to reinsurance. Radiation protection, contrary to nuclear third party liability, falls within the competence of the Health Board in the Slovak Republic. This means that different legislation is in place and different authorities are responsible. This paper comprises a brief history of the development of legislation and competence related to ionising radiation. The premium for this risk is calculated on the basis of tariff rates depending on the category of risk. These categories are defined in a report on radiation protection of the object to be insured, which is provided by a specialized broker. The paper furthermore includes the methodology of ranking ionising radiation sources: classification in accordance with the type of ionising radiation source, the level of radiation protection, the positioning of ionising radiation sources or the frequency and number of the movement of third parties in the controlled area. Nowadays SNIP tries to expand the insurance of ionising radiation to include, apart from risks in the medical sphere, risks in the industry (railways

  8. The Impact of Uniform Prudential Regulations Implemented at the Level of European Insurance Industry

    Directory of Open Access Journals (Sweden)

    Laura Elly Naghi

    2013-08-01

    Full Text Available While the financial markets have to face systemic and systematic risks, especially the insurance industries, the national supervisory authorities intend to implement regulation systems as uniform as possible at regional level and in the same time as conservatory as possible from the point of view of the risks accepted. The present paper intends to accurately analyze the regulation systems of important insurance markets (as tradition or volume of premiums – such as RBC, SST, Solvency II in order to stress the similarities of these models but more important the differences that generated a different rigidity degree of the insurance companies, in other words, a different minimum capital requirement. The paper intends to illustrate the financial and organizational impact of the European model Solvency has on the insurance companies, through its supplemental requirements, introduced by the supervisory authorities as a reaction to the recent financial crises.

  9. INSURANCE - A RISK COVERING STRATEGY

    Directory of Open Access Journals (Sweden)

    Marius Dan GAVRILETEA

    2014-12-01

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

  10. Relative risk analysis of several manufactured nanomaterials: an insurance industry context.

    Science.gov (United States)

    Robichaud, Christine Ogilvie; Tanzil, Dicksen; Weilenmann, Ulrich; Wiesner, Mark R

    2005-11-15

    A relative risk assessment is presented for the industrial fabrication of several nanomaterials. The production processes for five nanomaterials were selected for this analysis, based on their current or near-term potential for large-scale production and commercialization: single-walled carbon nanotubes, bucky balls (C60), one variety of quantum dots, alumoxane nanoparticles, and nano-titanium dioxide. The assessment focused on the activities surrounding the fabrication of nanomaterials, exclusive of any impacts or risks with the nanomaterials themselves. A representative synthesis method was selected for each nanomaterial based on its potential for scaleup. A list of input materials, output materials, and waste streams for each step of fabrication was developed and entered into a database that included key process characteristics such as temperature and pressure. The physical-chemical properties and quantities of the inventoried materials were used to assess relative risk based on factors such as volatility, carcinogenicity, flammability, toxicity, and persistence. These factors were first used to qualitatively rank risk, then combined using an actuarial protocol developed by the insurance industry for the purpose of calculating insurance premiums for chemical manufacturers. This protocol ranks three categories of risk relative to a 100 point scale (where 100 represents maximum risk): incident risk, normal operations risk, and latent contamination risk. Results from this analysis determined that relative environmental risk from manufacturing each of these five materials was comparatively low in relation to other common industrial manufacturing processes.

  11. A standards-based ontology and support for Big Data Analytics in the insurance industry

    Directory of Open Access Journals (Sweden)

    Dimitrios A. Koutsomitropoulos

    2017-06-01

    Full Text Available Standardization efforts have led to the emergence of conceptual models in the insurance industry. Simultaneously, the proliferation of digital information poses new challenges for the efficient management and analysis of available data. Based on the property and casualty data model, we propose an OWL ontology to represent insurance processes and to map large data volumes collected in traditional data stores. By the virtue of reasoning, we demonstrate a set of semantic queries using the ontology vocabulary that can simplify analytics and deduce implicit facts from these data. We compare this mapping approach to data in native RDF format, as in a triple store. As proof-of-concept, we use a large anonymized dataset for car policies from an actual insurance company.

  12. Insurance crisis

    International Nuclear Information System (INIS)

    Williams, P.L.

    1996-01-01

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

  13. Risk assessment and nuclear insurance: an overview

    International Nuclear Information System (INIS)

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

    1976-01-01

    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

  14. ECONOMIC AND LEGAL ASPECTS OF THE PLANNED DAMAGES ACTIONS FOR THE BREACHES OF EC ANTITRUST LAW

    Directory of Open Access Journals (Sweden)

    Elena Isac

    2010-09-01

    Full Text Available This paper investigates the planned damages actions for breaches of EC antitrust law in order to assess their impact on consumer welfare. It first examines the current legal situation and concurs that the European Union needs to regulate damages actions for breaches of EC antitrust law so that a higher number of consumers could be compensated for their losses. This paper then discusses the main legal provisions proposed by the Commission in the Green and in the White paper on damages actions for breaches of EC antitrust law. The analysis of these proposed legal provisions is done using arguments specific to the economic analysis of law. It is demonstrated that most of these proposed legal provisions will enhance consumer welfare but that there are also proposed legal provisions which will damage consumer welfare. The paper concludes that the planned damages actions for breaches of the EC law will be an improvement compared to the current situation. However, the Commission should amend some of the proposed legal provisions in order to help consumers further.

  15. What has changed in the 8th amendment of the GWB for the energy industry, water resource management and district heating industry?; Was aendert sich durch die 8. GWB-Novelle fuer die Energie-, Wasser- und Fernwaermewirtschaft?

    Energy Technology Data Exchange (ETDEWEB)

    Haellmigk, Christian F.; Pelka, Sascha C. [Sozietaet CMS Hasche Sigle, Stuttgart (Germany)

    2013-01-15

    Compared with the Restriction of Competition (GWB) in its actual version, the eighth amendment of the GWB provides modifications especially in the misuse control, in the fusion control, in the cartel regulation adversity law and sanctions with respect to the factual application areas of the GWB. Under this aspect, the authors of the contribution under consideration report on the modifications of the general antitrust regulations with special impacts on the energy industry, water resources management and district heating industry. Furthermore, the authors report on a prolongation of the special misuse control in the energy industry with respect to paragraph 29 GWB as well as on the transfer of the special antitrust misuse regulations for the water resource management. Innovations in the range of legal consequences of a violation of the GWB are presented.

  16. Urban Decline or Disinvestment: Uneven Development, Redlining and the Role of the Insurance Industry.

    Science.gov (United States)

    Squires, Gregory D.; And Others

    1979-01-01

    Redlining of many urban communities and discrimination against the poor and minorities are common in the insurance industry, and these practices contribute to the deterioration of those communities. The utilization of a structural/disinvestment approach by social scientists should provide additional information about the uneven development of…

  17. A study on the effect of internet on competitiveness and customer loyalty in insurance industry based on Porter competitive forces

    Directory of Open Access Journals (Sweden)

    Samira Ghazavi

    2013-07-01

    Full Text Available This paper presents an empirical investigation to study the effect of internet in insurance industry in Iran. The proposed study designs a questionnaire, distributes it among some experts and analyzes them based on some statistical test. The survey is conducted within insurance firms located in one of provinces of Iran. The results of the study confirm that internet influences competition among providers, bargaining power of customers as well as suppliers, significantly. In addition, internet has meaningful impacts on starting a business, the threat of substitutes, customer satisfaction, perceived image as well as perceived quality. The results of this survey emphasizes on the relative importance of internet for building a better competitive insurance industry.

  18. 76 FR 21894 - Proposed Statement of Antitrust Enforcement Policy Regarding Accountable Care Organizations...

    Science.gov (United States)

    2011-04-19

    ... contractual clauses or provisions 2. Tying sales (either explicitly or implicitly through pricing policies) of... Enforcement Policy Regarding Accountable Care Organizations Participating in the Medicare Shared Savings... (the ``Agencies'') are proposing an enforcement policy regarding the application of the antitrust laws...

  19. Insurance market development: An empirical study of African countries

    Directory of Open Access Journals (Sweden)

    Athenia Bongani Sibindi

    2015-12-01

    Full Text Available The insurance industry plays a very crucial role in an economy by fostering intermediation and by its mechanism of risk bearing. As such it could be argued that the insurance industry fosters economic growth. In this article we analyse the global insurance market development trends, particularly focusing on Africa. Our sample comprise of the 10 African countries namely—South Africa, Angola, Nigeria, Kenya, Mauritius, Namibia, Algeria, Tunisia, Morocco and Egypt. We employ three insurance market development metrics namely; premium volumes, insurance density and insurance penetrations ratios to establish trends in the level of development of global insurance markets. Our results document that the African countries (excluding South Africa have the least developed insurance markets. For most of the countries in our sample, the non-life insurance industry dominates the life-insurance industry. As such, it is imperative that their respective governments put in place measures that will grow their economies inorder to stimulate the development of insurance markets in Africa.

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

    African Journals Online (AJOL)

    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.

  1. IMPACT OF OFFICE AUTOMATION IN THE INSURANCE INDUSTRY.

    Science.gov (United States)

    FREEDMAN, AUDREY; AND OTHERS

    THE EXTENT AND PACE OF THE ADOPTION OF ELECTRONIC DATA PROCESSING TECHNOLOGY AMONG INSURANCE CARRIERS AND ITS EFFECTS ON INSURANCE OFFICE EMPLOYEES WERE STUDIED. QUESTIONNAIRE RESPONSES FROM 410 FIRMS, REPRESENTING ABOUT 89 PERCENT OF ALL INSURANCE CARRIER EMPLOYMENT, IDENTIFIED 305 FIRMS WITH ELECTRONIC DATA PROCESSING. OF THESE, 81 PERCENT…

  2. Terrorism Risk Insurance: An Overview

    National Research Council Canada - National Science Library

    Webel, Baird

    2005-01-01

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

  3. Sickness absence in the private sector of Greece: comparing shipyard industry and national insurance data.

    Science.gov (United States)

    Alexopoulos, Evangelos C; Merekoulias, Georgios; Tanagra, Dimitra; Konstantinou, Eleni C; Mikelatou, Efi; Jelastopulu, Eleni

    2012-04-01

    Approximately 3% of employees are absent from work due to illness daily in Europe, while in some countries sickness absence exceeds 20 days per year. Based on a limited body of reliable studies, Greek employees in the private sector seem to be absent far less frequently (industrialized world. The aim of this study was to estimate the levels of sickness absence in the private sector in Greece, using shipyard and national insurance data. Detailed data on absenteeism of employees in a large shipyard company during the period 1999-2006 were utilized. National data on compensated days due to sickness absence concerning all employees (around 2 million) insured by the Social Insurance Institute (IKA, the largest insurance scheme in Greece) were retrieved from the Institute's annual statistical reports for the period 1987-2006. Sick-leave days per employee and sick-leave rate (%) were calculated, among other indicators. In the shipyard cohort, the employment time loss due to sick leave was 1%. The mean number of sick-leave days per employee in shipyards ranged between 4.6 and 8.7 and sick-leave rate (sickness absenteeism rate) varied among 2% and 3.7%. The corresponding indicators for IKA were estimated between 5 and 6.3 sick-leave days per insured employee (median 5.8), and 2.14-2.72% (median 2.49%), respectively. Short sick-leave spells (industrialized world. In the 20-years national data, the results also showed a 7-year wave in sickness absence indexes (a decrease during the period 1991-1997 and an increase in 1998-2004) combined with a small yet significant decline as a general trend. These observations deserve detailed monitoring and could only partly be attributed to the compensation and unemployment rates in Greece so other possible reasons should be explored.

  4. Challenges facing the insurance industry since the modernisation of the international nuclear third party liability regime

    International Nuclear Information System (INIS)

    Quere, Alain

    2014-01-01

    events illustrate some of the challenges facing the world of insurance following the modernisation of the international nuclear third party liability regime: - Will the insurance industry be able to find funds corresponding to the new amounts that have been set? - Do the additional damages covered by the revised conventions provide adequate cover for existing risks and will private insurance be able and willing to cover such risks? Nevertheless, the insurance world has changed a great deal since 2004 and there are many additional issues that have arisen since that time. For example, the economic crisis and the introduction of the European Solvency II Directive require insurers to take a more stringent line with their commitments. Moreover, after the Fukushima Daiichi accident, a number of questions have resurfaced: are the new insurance amounts sufficient? The age of 'nuclear renaissance' has long gone and some countries are distancing themselves from nuclear power in light of its questionable costs; are operators paying a fair price in light of the risks incurred? Finally, Europe is keen to play its part and impose its own rules; what will be the consequences of this development? This article reconsiders these challenges in light of the 2004 Protocol (which has not entered into force), by focusing in particular on the situation in Europe. Section I looks back at the history behind the conventions and the key principles they set down. Section II highlights the changes made to the Paris Convention as amended by the 2004 Protocol and the problems facing the insurance industry. Section III provides an overview of the various actors involved in the insurance industry and redefines the necessary insurance foundations to cover the challenges described in Section IV. Finally, Section IV covers all the challenges facing the insurance industry since the modernisation of the international nuclear third party liability regime. (author)

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

    Directory of Open Access Journals (Sweden)

    Galim Zaribzyanovich Vakhitov

    2015-06-01

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

  6. 76 FR 67025 - Statement of Antitrust Enforcement Policy Regarding Accountable Care Organizations Participating...

    Science.gov (United States)

    2011-10-28

    ... that will assist the Agencies in monitoring the competitive effects of ACOs. Specifically, CMS will... Collaborations Among Competitors,\\11\\ will be evaluated under the Agencies' Horizontal Merger Guidelines.\\12\\ The... & Fed. Trade Comm'n, Antitrust Guidelines for Collaborations Among Competitors 1.1 (2000) [hereinafter...

  7. Marketing in life insurance

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2006-01-01

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

  8. Discovering Cartels: Dynamic Interrelationships between Civil and Criminal Antitrust Investigations

    OpenAIRE

    Ghosal, Vivek

    2006-01-01

    This paper focuses on the genesis, taxonomy and timeline of U.S. criminal antitrust investigations, and uses time-series data on enforcement to examine the interrelationships between the various criminal enforcement variables as well as the linkages between criminal and civil enforcement. The key findings are: (1) there appears to be considerable dynamic interplay between the criminal variables. For example, an increase in grand jury investigations or criminal cases initiated or the number of...

  9. Why (and How) Fairness Matters at the IP/Antitrust Interface

    OpenAIRE

    Farber, Daniel A.; McDonnell, Brett

    2003-01-01

    This Article questions the widespread scholarly view that maximizing economic efficiency should be the sole goal of the intellectual property and antitrust laws. We propose that the law should also encourage a fair division of the economic surplus, at least by considering it as a tiebreaker when the dictates of economic efficiency are ambiguous or controversial. We begin by surveying some challenges that have been made to the theoretical underpinnings of exclusive reliance on economi...

  10. The Nuclear Insurance Pools: Operations and Covers

    International Nuclear Information System (INIS)

    Tetley, M.

    2008-01-01

    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)

  11. An application of Fuzzy DEMATEL electronic life-insurance development

    Directory of Open Access Journals (Sweden)

    Seyed Vali Tabatabaei

    2013-02-01

    Full Text Available For years, e-commerce has generated competitive advantage for many industries especially in insurance industry where people could apply for any sort of insurance, very easily. In fact, insurance industry has become one of the most important sectors in the world. E-commerce, on the other hand, has absorbed various people in insurance industry to develop economic growth. However, applying e-commerce for insurance firms may encounter serious obstacles and it is important to know them properly and setup appropriate actions to remove them. In this paper, we present a multi-criteria decision making (MCDM technique based on DEMATEL with an adaptation of fuzzy logic to find important factors impacting implementation of e-commerce for life insurance industry. The proposed study of this paper designs a questionnaire and distributes it among some insurance experts and then we analyze them using fuzzy DEMATEL technique. Findings indicate that “lack of designing death table based on the existing statistics of population death in Iran”, “lack of variety in protections of life insurance in proportionate to society individual’s requirements by means of low level income of society individuals” and “lack of extensive advertisements for developing the culture of life insurance in country” are the most important factors influencing insurance industry for enhancing e-business.

  12. Private regulation to appropriate value from design innovations : Implications for anti-trust policy

    NARCIS (Netherlands)

    Gemser, G.; Jacobs, D.

    2002-01-01

    Co-operative ventures among rivals are looked upon in general with suspicion by antitrust authorities. In this paper, we position ourselves in the school of thought that evaluates collusive behavior among rivals with the Schumpeterian concept of dynamic competition in mind rather than the concept of

  13. The insurance and risk management industries: new players in the delivery of energy-efficient and renewable energy products and services

    International Nuclear Information System (INIS)

    Mills, Evan

    2003-01-01

    The insurance and risk management industries are typically considered to have little interest in energy issues, other than those associated with large energy supply systems. The historical involvement of these industries in the development and deployment of familiar loss-prevention technologies such as automobile air bags, fire prevention/suppression systems, and anti-theft devices, evidences a tradition of mediating and facilitating the use of technology to improve safety and otherwise reduce the likelihood of losses. Through an examination of the connection between risk management and energy technology, we have identified nearly 80 examples of energy-efficient and renewable energy technologies that offer loss-prevention benefits (such as improved fire safety). This article presents the business case for insurer involvement in the sustainable energy sector and documents early case studies of insurer efforts along these lines. We have mapped these opportunities onto the appropriate market segments (life, health, property, liability, business interruption, etc.). We review steps taken by 53 forward-looking insurers and reinsurers, 5 brokers, 7 insurance organizations, and 13 non-insurance organizations. We group the approaches into the categories of: information, education, and demonstration; financial incentives; specialized policies and insurance products; direct investment; customer services and inspections; codes, standards, and policies; research and development; in-house energy management; and an emerging concept informally known as 'carbon insurance'. While most companies have made only a modest effort to position themselves in the 'green' marketplace, a few have comprehensive environmental programs that include energy efficiency and renewable energy activities

  14. Does the regulation of the insurance industry have a pernicious effect on innovation by the sector in South Africa?

    Directory of Open Access Journals (Sweden)

    Elton Zingwevu

    2015-07-01

    Full Text Available Financial regulation could be a double edged sword in that despite its major thrust being that to secure the financial sector and bring about financial stability; it might have the unintended consequence of stifling innovation by the sector. We investigate the nexus between financial regulation and innovation by specifically focusing on the insurance industry in South Africa. We demonstrate that there are plethora pieces of legislation that govern the insurance industry in South Africa. As such this has driven the cost of compliance to unsustainable levels thereby curtailing the spending by companies on innovation. We thus would like to caution the policy makers’ that this “heavy-touch” regulatory mode is having a pernicious effect on research and development by the insurance sector. As such we encourage them to embrace the “light-touch” regulatory mode whereby self-regulation and moral suasion are other avenues to be considered.

  15. Sharing Powers Within Exclusive Competences: Rethinking EU Antitrust Law Enforcement

    OpenAIRE

    Van Cleynenbreugel, Pieter

    2016-01-01

    Although the establishment of competition rules forms part of the EU’s exclusive competences, the application and enforcement of those rules has always been shared consistently between the EU and its Member States.The sharing of enforcement powers is conceptualised traditionally as a delegation of the exercise of exclusively conferred competences. The Court of Justice of the European Union’s case law in the context of EU antitrust law enforcement nevertheless raises profound questions as to t...

  16. Dilemma of deposit insurance policy in ASEAN countries: Does it promote banking industry stability or moral hazard?

    Directory of Open Access Journals (Sweden)

    Suhal Kusairi

    2018-03-01

    Full Text Available The goal of this article is to investigate the influence of deposit insurance policy on the stability of the banking industry. Stability is measured by the ratio of retail deposits to total assets and the ratio of loans to total assets to cover both positive and negative impacts, and deposit insurance policy is assessed in various stages. The survey uses a data panel of 127 commercial banks from 2000 to 2013 in six member countries of the Association of Southeast Asian Nations (ASEAN. Using a dynamic panel data investigation, we obtain results showing that the implementation of deposit insurance policy negatively affects the ratio of retail deposits to total assets while positively influencing the ratio of loans to total assets. This is an important finding, as it implies that deposit insurance policy causes bank managers to take greater risks to increase their returns, rather than increasing the confidence level of depositors and ultimately increasing total deposits. This result is important for regulators as they evaluate deposit insurance policy and anticipate any negative outcomes that might follow.

  17. Nuclear insurance in Central and Eastern Europe

    International Nuclear Information System (INIS)

    Warren, G.

    1998-01-01

    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)

  18. 7 CFR 1980.481 - Insured loans.

    Science.gov (United States)

    2010-01-01

    ... 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...

  19. Extending the Scope of Services in the Insurance Industry

    OpenAIRE

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

    2011-01-01

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

  20. Insurability of Terrorism Risks

    International Nuclear Information System (INIS)

    Harbruecker, D.

    2006-01-01

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

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

    Science.gov (United States)

    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…

  2. Australia's private health insurance industry: structure, competition, regulation and role in a less than 'ideal world'.

    Science.gov (United States)

    Shamsullah, Ardel

    2011-02-01

    Australia's private health insurance funds have been prominent participants in the nation's health system for 60 years. Yet there is relatively little public awareness of the distinctive origins of the health funds, the uncharacteristic organisational nature of these commercial enterprises and the peculiarly regulated nature of their industry. The conventional corporate responsibility to shareholders was, until recently, completely irrelevant, and remains marginal to the sector. However, their purported answerability to contributors, styled as 'members', was always doubtful for most health funds. After a long period of remarkable stability in the sector, despite significant shifts in health funding policy, recent years have brought notable changes, with mergers, acquisitions and exits from the industry. The research is based on the detailed study of the private health funds, covering their history, organisational character and industry structure. It argues that the funds have always been divorced from the disciplines of the competitive market and generally have operated complacently within a system of comprehensive regulation and generous subsidy. The prospect of the private health funds enjoying an expanded role under a form of 'social insurance', as suggested by the National Health and Hospitals Reform Commission, is not supported.

  3. STRUCTURAL ANALYSIS OF MERGERS AND ACQUISITIONS IN THE FOOD INDUSTRY

    OpenAIRE

    Adams, Wendi L.; Love, H. Alan; Capps, Oral, Jr.

    1997-01-01

    Determinants of merger and acquisition activity in the food industry are analyzed using logit regression analysis. Factors affecting the food processing, food retailing and food service sectors are considered. Results indicate merger and acquisition activity in all three sectors are significantly influenced by antitrust activity, profitability and real gross domestic product.

  4. Competition policy in patent cases and antitrust.

    Science.gov (United States)

    Sobel, Gerald

    2003-01-01

    The article that follows examines the competition policy reflected in the decisions of the Court of Appeals for the Federal Circuit in its patent cases. The court's views on this subject have been manifested most plainly in decisions that have transformed the law concerning infringement under the doctrine of equivalents and claim construction. In both categories, the court narrowed patent scope by reason of its desire to protect competitors. The article argues that the court's premise in prescribing narrower claim scope reflected an incomplete view of competition policy. The court's analysis overlooked the benefits to competition provided by patents, which stimulate inventions and their development. The article traces the development of antitrust jurisprudence and demonstrates how respect for the contribution of patents to competition and skepticism of free-riding has evolved, particularly beginning in the 1970s. The article draws a parallel between the Court's reasoning about competition policy, on the one hand, and the rejected views of Justices Hugo Black and William O. Douglas and abandoned patent-antitrust jurisprudence, on the other. The Federal Circuit's decision in Festo Corp. v. Shoketsu Kinzoku Kogyo Kabushiki Co., Ltd., 234 F.3d 558 (Fed. Cir. 2000), on the subject of equivalents is considered in the paper. In that decision, the majority adopted a new rule that completely barred infringement under the doctrine of equivalents of any claim limitation where, in prosecution, there had been a narrowing amendment relating to patentability. In the past, prosecution estoppel foreclosing equivalents had been subject to a "flexible bar," which, in some circumstances, allowed for equivalence notwithstanding such an amendment. The article points out that because almost all patents are amended during prosecution, the effect would be to allow widespread copying of patented inventions by trivial modifications of any narrowed claim limitation. The incentive to innovate

  5. The Continuing Role For Antitrust Enforcement In the Electricity Sector

    OpenAIRE

    William Stallings

    2013-01-01

    William Stallings discusses some of the recent enforcement actions in the electricity sector, a highly regulated sector, where government has played an important role in enforcing competition policy. The recent “New York Capacity†cases involving a power generator and its financial services firm, includes the use of a derivative agreement to bypass merger regulation and restrain trade. As Stalling notes, this is an example of a novel liability theory used by the Antitrust Division of...

  6. The current German regime governing third-party access to power transmission systems and denial of TPA, discussed from the angle of applicable civil law, energy industry law and antitrust law

    International Nuclear Information System (INIS)

    Kuehne, G.

    2000-01-01

    The German EnWG (energy industry law) for deregulation of the energy sector and implementation of the Internal Energy Market Directive of the EU contains an obligation to contract and make rules for establishing a legally binding system for access to and use of third parties of transmission and distribution networks in the competitive electricity market. The design of such contracts under private law as well as the grid code for network operation primarily being a matter of the contracting parties, the legal basis and opportunities for governmental supervisory functions are embodied in various laws. The legal analysis of this contribution examines the current situation and asks whether the existing provisions of the German BGB (Civil Code), antitrust law and the EnWG offer practicable means in case of need for governmental supervisory action in order to ensure evolution and adherence to a legal framework that will ensure the objectives of the politically willed deregulation of the energy sector and foster development of an open market serving the public welfare. (CB) [de

  7. Corporate social responsibility in the international insurance industry

    NARCIS (Netherlands)

    Scholtens, B.

    2011-01-01

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

  8. The Complexity of E-Insurance

    Directory of Open Access Journals (Sweden)

    Marius GAVRILETEA

    2006-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Jan de Leeuw

    2014-11-01

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

  10. Representing a new approach for implementing e-insurance using fuzzy DEMATEL

    Directory of Open Access Journals (Sweden)

    Mahsa Shahhosseini

    2013-02-01

    Full Text Available During the past two decades, e-commerce has revolutionized many industries by providing easy access infrastructures for interested users who wish to place their orders via internet facilities. Insurance industry is one of the most important financial industries in the world. E-commerce has been attracting many in insurance industry and insurance industry has utilized e-commerce because of its own significance in economic growth and health of society. However, enhancing e-commerce into insurance firms may face serious barriers and it is important to detect and setup appropriate actions to remove them. In this paper, we present a multi-criteria decision making (MCDM technique based on DEMATEL with an adaptation of fuzzy logic to find important factors influencing implementation of e-commerce into insurance industry. The proposed study of this paper designs a questionnaire and distributes it among five important insurance experts. Findings indicate that “behavioral-cultural barriers” influence on structural and field barriers. “Problems resulted from obeying government complicated rules” in the group of structural barriers, “low capacity of accepting e-insurance” in field barriers group and “lack of sufficient support of insurance chief managers from e-insurance and relative tendency of insurance staffs to make the insurance affairs electronic” in behavioral-cultural barriers group have the most influence on other factors of group.

  11. Nuclear energy and insurance

    International Nuclear Information System (INIS)

    Dow, J.C.

    1989-01-01

    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)

  12. Switzerland; Financial Sector Assessment Program: Technical Note: An Assessment of Insurance Core Principles for the Reinsurance Industry

    OpenAIRE

    International Monetary Fund

    2007-01-01

    This technical note discusses key findings of the assessment of Insurance Core Principles (ICP) for the reinsurance industry for Switzerland. It reveals that the Swiss reinsurance market is dominated by three large players with a strong international presence. The reinsurance industry comprises 20 professional reinsurers and 50 reinsurance captives with gross premiums written totaling SwF 37.4 billion for 2005. Swiss Re, European Re, and Converium have consistently maintained more than 75 per...

  13. Sickness Absence in the Private Sector of Greece: Comparing Shipyard Industry and National Insurance Data

    Directory of Open Access Journals (Sweden)

    Eleni Jelastopulu

    2012-04-01

    Full Text Available Approximately 3% of employees are absent from work due to illness daily in Europe, while in some countries sickness absence exceeds 20 days per year. Based on a limited body of reliable studies, Greek employees in the private sector seem to be absent far less frequently ( < 5 days/year compared to most of the industrialized world. The aim of this study was to estimate the levels of sickness absence in the private sector in Greece, using shipyard and national insurance data. Detailed data on absenteeism of employees in a large shipyard company during the period 1999–2006 were utilized. National data on compensated days due to sickness absence concerning all employees (around 2 million insured by the Social Insurance Institute (IKA, the largest insurance scheme in Greece were retrieved from the Institute’s annual statistical reports for the period 1987–2006. Sick-leave days per employee and sick-leave rate (% were calculated, among other indicators. In the shipyard cohort, the employment time loss due to sick leave was 1%. The mean number of sick-leave days per employee in shipyards ranged between 4.6 and 8.7 and sick-leave rate (sickness absenteeism rate varied among 2% and 3.7%. The corresponding indicators for IKA were estimated between 5 and 6.3 sick-leave days per insured employee (median 5.8, and 2.14–2.72% (median 2.49%, respectively. Short sick-leave spells ( < 4 days may account at least for the 25% of the total number of sick-leave days, currently not recorded in national statistics. The level of sickness absence in the private sector in Greece was found to be higher than the suggested by previous reports and international comparative studies, but still remains one of the lowest in the industrialized world. In the 20-years national data, the results also showed a 7-year wave in sickness absence indexes (a decrease during the period 1991–1997 and an increase in 1998–2004 combined with a small yet significant decline as a

  14. Imperfect Tests and Natural Insurance Monopolies

    OpenAIRE

    Emons, Winand

    1997-01-01

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

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

    Science.gov (United States)

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

    2004-01-01

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

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

    Science.gov (United States)

    Thistlethwaite, Jason

    2017-04-01

    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.

  17. Health Care Efficiencies: Consolidation and Alternative Models vs. Health Care and Antitrust Regulation - Irreconcilable Differences?

    Science.gov (United States)

    King, Michael W

    2017-11-01

    Despite the U.S. substantially outspending peer high income nations with almost 18% of GDP dedicated to health care, on any number of statistical measurements from life expectancy to birth rates to chronic disease, 1 the U.S. achieves inferior health outcomes. In short, Americans receive a very disappointing return on investment on their health care dollars, causing economic and social strain. 2 Accordingly, the debates rage on: what is the top driver of health care spending? Among the culprits: poor communication and coordination among disparate providers, paperwork required by payors and regulations, well-intentioned physicians overprescribing treatments, drugs and devices, outright fraud and abuse, and medical malpractice litigation. Fundamentally, what is the best way to reduce U.S. health care spending, while improving the patient experience of care in terms of quality and satisfaction, and driving better patient health outcomes? Mergers, partnerships, and consolidation in the health care industry, new care delivery models like Accountable Care Organizations and integrated care systems, bundled payments, information technology, innovation through new drugs and new medical devices, or some combination of the foregoing? More importantly, recent ambitious reform efforts fall short of a cohesive approach, leaving fundamental internal inconsistencies across divergent arms of the federal government, raising the issue of whether the U.S. health care system can drive sufficient efficiencies within the current health care and antitrust regulatory environments. While debate rages on Capitol Hill over "repeal and replace," only limited attention has been directed toward reforming the current "fee-for-service" model pursuant to which providers are paid for volume of care rather than quality or outcomes. Indeed, both the Patient Protection and Affordable Care Act ("ACA") 3 and proposals for its replacement focus primarily on the reach and cost of providing coverage for

  18. Efficiency Gains and Myopic Antitrust Authority in a Dynamic Merger Game

    OpenAIRE

    MOTTA, Massimo; VASCONCELOS, Helder

    2003-01-01

    This Paper models a sequential merger formation game with endogenous efficiency gains in which every merger has to be submitted for approval to the Antitrust Authority (AA). Two different types of AA are studied: first, a myopic AA, which judges a given merger without considering that subsequent mergers may occur; and, second, a forward-looking AA, which anticipates the ultimate market structure a given merger will lead to. By contrasting the decisions of these two types of AA, merger policy ...

  19. Risk segmentation in Chilean social health insurance.

    Science.gov (United States)

    Hidalgo, Hector; Chipulu, Maxwell; Ojiako, Udechukwu

    2013-01-01

    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.

  20. Macroprudential Insurance Regulation: A Swiss Case Study

    OpenAIRE

    Philippe Deprez; Mario V. Wüthrich

    2016-01-01

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

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

    Science.gov (United States)

    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…

  2. INVESTIGATING THE RELATIONSHIP BETWEEN PERCEIVED SACRIFICE AND B TO B CUSTOMER SATISFACTION IN THE INSURANCE INDUSTRY

    Directory of Open Access Journals (Sweden)

    Petrisoaia Carmen

    2012-07-01

    Full Text Available The Romanian insurance market expanded rapidly during the last two decades. Presently, the Insurance Supervisory Commission (CSA reports 43 insurance companies and 567 insurance brokers. In this extremely dynamic and competitive environment, it is compulsory to control key elements that generate and maintain customer satisfaction. Therefore, the hereto paper concentrates on the influence exerted by perceived sacrifice over the business to business customer satisfaction in the insurance industry. More precisely, the objective is to investigate the impact of effort, time and money spent by the business to business customer over satisfaction. The concept of satisfaction has been intensively explored in the literature due to the fact that both practitioners and academics understood that it held a great significance in determining and preserving customer relationships and therefore, long-term profitability. In the service sector, much research has been conducted in the business to consumer context, especially concentrated on the relationship between service quality and satisfaction, whereas the business to business setting received less attention. In order to explore the relationship between perceived sacrifice and satisfaction, a descriptive research design was used. A questionnaire was created using multiple items for measuring satisfaction and perceived sacrifice and also a number of identification variables. The survey concerned companies that had had benefitted from the services of an insurance broker at least once. Copies of the questionnaire were sent by email to company managers from all the main industries. A total of 85 answers were collected. With the help of SPSS tool, the two measurement scales were tested for reliability and validity and a factor analysis was performed. The next step was to calculate the composite scores for each of the two variables and to carry out the simple linear regression analysis. Our linear model considers that

  3. Global loss diversification in the insurance sector

    NARCIS (Netherlands)

    Sheremet, O.; Lucas, A.

    2009-01-01

    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

  4. Macroprudential Insurance Regulation: A Swiss Case Study

    Directory of Open Access Journals (Sweden)

    Philippe Deprez

    2016-12-01

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

  5. Customer loyalty in the South African long-term insurance industry

    Directory of Open Access Journals (Sweden)

    Leon du Plessis

    2013-04-01

    Full Text Available The primary objective of this study is to investigate the influence of selected independent variables, two-way communication and conflict handling on intentional customer loyalty via Customer Relationship Management (CRM as the intervening variable within the South African long-term insurance environment. Primary data were gathered using a questionnaire, with items referring to Customer Relationship Management, customer loyalty, two-way communication and conflict handling. The sample consisted of 254 customers in four customer walk-in centres of a long-term insurance provider in South Africa. Data were factor-analysed. One independent variable, conflict handling, exerted a statistically significant positive influence on the intervening variable (CRM, whilst two-way communication exerted a statistically significant negative influence on the intervening variable. This variable (CRM positively influenced the dependent variable (customer loyalty. If long-term insurance organisations communicate timeously and accurately, and are skilled in conflict handling, greater loyalty will be created amongst customers. The study revealed that the majority of customers (51.53% strongly agree that two-way communication is an important dimension that underpins Customer Relationship Management and their relationship with a long-term insurance organisation. The empirical results indicate a negative relationship between the perceived two-way communication by a long-term insurance organisation and CRM at the insurance provider in South Africa. In terms of conflict handling, the study revealed that the majority of customers (45.69% strongly agree that conflict handling is an important dimension that underpins Customer Relationship Management and their relationship with a long-term insurance organisation. The empirical results indicate a positive relationship between perceived conflict handling by a long-term insurance provider and CRM at the organisation in South

  6. INSURANCE MARKET. GENERAL CONSIDERATIONS OF INSURANCES IN ROMANIA

    Directory of Open Access Journals (Sweden)

    MARINEL NEDELUŢ

    2013-10-01

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

  7. Narrowing the Insurance Protection Gap: The important role of Natural Hazards Research

    Science.gov (United States)

    Manghnani, V.

    2016-12-01

    The Insurance industry is a key component of the economic engine. It allows businesses to reduce uncertainty in their operations, and individuals to rebound from unanticipated events. A thriving insurance industry efficiently transfers risk from individuals and businesses to the capital markets. It allows society to function smoothly and fosters growth. In areas where the private insurance is not a viable option, the outcome is suboptimal - the society ends up carrying the burden. Higher insurance penetration increases disaster resiliency. The long term viability of an insurance product depends on the ability of the insurance provider to accurately assess risks, which is critical to pricing insurance and risk monitoring. Insurance payouts are typically incurred during extreme events, therefore the industry is very interested in extreme events research. There are several examples where the insurance industry has stepped away from a market or severely limited its appetite because of lack of data or proper understanding of the underlying risks - such as, flood. Further, the insurance Industry has seen a rising trend of natural hazard related losses over the past few decades. The trends have been particularly strong in hydro meteorological hazards. While a good part of this increasing trend can been explained by increase in exposures, there is also concern that underlying hazard landscape may be evolving. The industry would really benefit from research that identifies secular and long term trends in hydro-meteorological hazards, particularly in the extremes. Insight into non-stationarity in the climate system at a regional level would be very informative of risk management decisions. One can envision a scenario where in the industry stops insuring certain risk (such as storm surge), because of a lack of understanding of the trends in the underlying risk and a consequent poor performance record. In sum, the ability of the industry to assess complex and emerging natural

  8. The American nuclear power industry. A handbook

    International Nuclear Information System (INIS)

    Pearman, W.A.; Starr, P.

    1984-01-01

    This book presents an overview of the history and current organization of the American nuclear power industry. Part I focuses on development of the industry, including the number, capacity, and type of plants in commercial operation as well as those under construction. Part II examines the safety, environmental, antitrust, and licensing issues involved in the use of nuclear power. Part III presents case studies of selected plants, such as Three Mile Island and Seabrook, to illustrate some of the issues discussed. The book also contains a listing of the Nuclear Regulatory Commission libraries and a subject index

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

    Science.gov (United States)

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

    2017-10-17

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

  10. [Economic evaluation for the prevention of cervical cancer by vaccination--from perspective of health insurance society and industry].

    Science.gov (United States)

    Kawabayashi, Yukari; Furuno, Makoto; Uchida, Marina; Kawana, Takashi

    2013-04-01

    The aim of this study is to estimate the budget impact in a health insurance society and an industry of promoting decision-making for endowing grants for vaccination as prophylaxis against cervical cancer (CC) by the health insurance society for employees. The target population was Japanese female employees aged 20 to 34 and partners and daughters of male employees working for an overseas IT industry. By using a prevalence-based model, the author estimated expected costs in non-vaccination and vaccination scenarios and evaluated the 10-year financial impact on the industry after vaccination by employing a cost-benefit analysis. The incidence of CC in a target group was derived from the actual number of patients with CC in addition to data from JMDC's receipt database and estimated by a Bayesian method. The epidemiological parameters such as mortality rate, screening rate, detailed exam rate and detailed exam consultation rate were taken from epidemiology statistics and published articles available in Japan. Healthcare costs for cancer treatment, screening, detailed exam and vaccination estimated based on medical fee points were input into the model, 'but the analysis did not consider side effect-related costs. In addition, productivity costs for mortality in employees and their families due to CC, estimated by the national employee's statistics, were also input into the model. An annual discount was unconsidered. From the perspective of the healthcare insurance society, expenditure of approximately 129 million yen in the non-vaccination scenario was expected for ten years, but healthcare-related costs were saved by expenditure of approximately 73 million yen with 100% of employees and their families being vaccinated at expenses of approximately 55 million yen. The insurance society lost approximately 1.8 million yen in total if subsidy for vaccination was set at ten thousand yen. In the case of a 100% vaccination rate, the company can save losses in productivity of

  11. Serbian insurance market: Select issues

    Directory of Open Access Journals (Sweden)

    Obadović Mirjana M.

    2010-01-01

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

  12. Weak Form Efficiency of the Insurance Industry: Empirical Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    Emenike Kalu Onwukwe

    2018-02-01

    Full Text Available This paper evaluated the insurance sector of Nigeria Stock Exchange (NSE for evidence weak-form efficiency using daily returns from January 2009 to February 2016. The study employs descriptive analysis, non-parametric runs test and autocorrelation function as well as Ljung-Box Q statistics in conducting the evaluation. Descriptive statistics of the insurance sector return series showed negative skewness and leptokurtic distribution. Estimates from the Jarque-Bera normality test showed that the insurance sector returns did not follow normal distribution. Results of the runs test reject null hypothesis of randomness in the return series of the insurance sector in the period studied. Furthermore, the autocorrelation functions and the Ljung-Box Q tests provide evidence of serial correlation in the stock returns of the insurance sector. Overall results from the study suggested that the insurance sector of NSE is not weak-form efficient. Consequently, technical analysis on the insurance sector of the NSE may not be fruitless.

  13. Weak-form Efficiency of the Insurance Industry: Empirical Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    Emenike Kalu Onwukwe

    2018-02-01

    Full Text Available This paper evaluates the insurance sector of Nigeria Stock Exchange (NSE for evidence weak-form efficiency using daily returns from January 2009 to February 2016. The study employs descriptive analysis, non-parametric runs test and autocorrelation function as well as Ljung-Box Q statistics in conducting the evaluation. Descriptive statistics of the insurance sector return series show negative skewness and leptokurtic distribution. Estimates from the Jarque-Bera normality test show that the insurance sector returns do not follow a normal distribution. Results of the runs test reject the null hypothesis of randomness in the return series of the insurance sector in the period studied. Furthermore, the autocorrelation functions and the Ljung-Box Q tests provide evidence of serial correlation in the stock returns of the insurance sector. Overall results from the study suggest that the insurance sector of NSE is not weak-form efficient. Consequently, technical analysis on the insurance sector of the NSE may not be fruitless.

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

    African Journals Online (AJOL)

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

  15. Preparing for an "Insured" Old Age: Insurance Purchase and Self-Support in Old Age in Rural China.

    Science.gov (United States)

    Shi, Lihong

    2018-05-21

    This article explores an emerging trend among young and middle-aged rural couples in Northeast China who have purchased recently marketized commercial insurance as a way to prepare for self-support in old age. It discusses how the commercial insurance industry has created a rural elder-care market among a population that traditionally relied on family for support in old age. It also delves into the ways in which the transformations of intergenerational exchange and family structure and a lack of health care access have contributed to the preparation for self-support in old age and have thus fostered the creation of a rural elder-care market for the insurance industry. This emerging trend reveals a transition from traditional family support to a combination of multiple ways of elder care, in particular self-support in old age. It also suggests that while the Chinese state is facing a pressing issue of supporting an increasing aging population and the Chinese family is coping with the burden of elder care, the insurance industry is playing an increasing role in elder care in China.

  16. Hospital prices and market structure in the hospital and insurance industries.

    Science.gov (United States)

    Moriya, Asako S; Vogt, William B; Gaynor, Martin

    2010-10-01

    There has been substantial consolidation among health insurers and hospitals, recently, raising questions about the effects of this consolidation on the exercise of market power. We analyze the relationship between insurer and hospital market concentration and the prices of hospital services. We use a national US dataset containing transaction prices for health care services for over 11 million privately insured Americans. Using three years of panel data, we estimate how insurer and hospital market concentration are related to hospital prices, while controlling for unobserved market effects. We find that increases in insurance market concentration are significantly associated with decreases in hospital prices, whereas increases in hospital concentration are non-significantly associated with increases in prices. A hypothetical merger between two of five equally sized insurers is estimated to decrease hospital prices by 6.7%.

  17. Modern problems in insurance mathematics

    CERN Document Server

    Martin-Löf, Anders

    2014-01-01

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

  18. Nuclear liability insurance: a resume of recent years

    International Nuclear Information System (INIS)

    Marrone, J.

    1975-01-01

    The nuclear liability-insurance pools have steadily increased nuclear liability insurance available to the nuclear industry to its present $125 million, which is more than double the $60 million first provided in 1957. The insurance pools also provide an additional $175 million of all-risk property insurance to protect against loss of property at a nuclear facility, for a total of $300 million. This amount of liability and property insurance available for nuclear risks exceeds the coverage the insurance industry has at risk anywhere on a single unit of risk, thus attesting to the confidence in nuclear safety. The extraordinary safety achieved and recorded by the loss experience of the nuclear pools is described. The insurance pools have proposed a change in the Price--Anderson Act which would provide substantial additional sums of nuclear liability insurance to protect the public and which is likely to be the subject of examination by Congress during 1975. The proposal, if implemented, will gradually increase the protection afforded to the public and virtually eliminate the role of government indemnity. (auth)

  19. Essays on valuation and risk management for insurers

    NARCIS (Netherlands)

    Plat, H.J.

    2011-01-01

    In recent years there has been increasing attention of the insurance industry for market consistent valuation of insurance liabilities and the quantification of insurance risks. Important drivers of this development are the new regulatory requirements resulting from the introduction of IFRS 4 Phase

  20. Uncertainty in geohazard understanding and communicating hazards and risk between scientists and the UK Insurance industry.

    Science.gov (United States)

    Lawley, Russell; Lee, Kathryn; Lark, Murray

    2015-04-01

    At BGS, expert elicitation has been used to evaluate the relative impacts arising from multiple geohazards that can affect UK housing stock. In turn this 'consensus' understanding has been developed into a tool to assist the UK insurance industry underwrite the domestic property market. BGS models six geohazards deemed relevant to UK Housing: Landslides, Shrink-swell (heave), Compressibles, Dissolution (Karst), collapsibles and running sand. The models are widely used and have been developed over 2 decades of research. However, stakeholders such as the insurance industry are not well equipped to managed geohazard models directly and need the information to be categorised in a meaningful way, appropriate to their business models. Creating terminologies to communicate the relative threats for each geohazard has been relatively straightforward, but communicating the impacts of multiple geohazards, or comparing the relative risks of one geohazard against another has proved more difficult. Expert elicitation has been used since 2010 to try and build a consensus model for geohazards and to help BGS communicate its knowledge to stakeholders. Typically, the BGS geohazard models are provided with 5 levels of susceptibility: A (low or absent) ,B, C, D and E (high). Resolving individual models is relatively simple, but the insurance market is extremely dynamic and a need to simplify and convey the possible threats from all geohazards into a single 'rating' of susceptibility has emerged. This poses a problem when trying to convey the geological understanding behind the models. For example, how do you convey the combined (or comparative) susceptibility of a high susceptibility to Dissolution, with a moderate susceptibility to Landslides. This complexity is further hampered when needing to consider that stakeholders resolve spatial distributions via use of frameworks such as 'Postcode' sectors, and that the outputs of most geohazard models are sensitive to scope and scale of

  1. Limits of insurability; Grenzen der Versicherbarkeit

    Energy Technology Data Exchange (ETDEWEB)

    Haerig, Michael [Marsh GmbH, Duesseldorf (Germany)

    2008-07-01

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

  2. The Normative Foundations of (Social) Insurance

    DEFF Research Database (Denmark)

    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...

  3. Business Storytelling and Leadership in the Insurance Companies from Romania

    Directory of Open Access Journals (Sweden)

    Viorica Păuș

    2013-12-01

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

  4. 45 CFR 30.3 - Antitrust, fraud, exception in the account of an accountable official, and interagency claims...

    Science.gov (United States)

    2010-10-01

    ... of antitrust laws, or to any debt involving fraud, presentation of a false claim, or... violation or fraud, a false claim, misrepresentation, or other criminal activity or misconduct, the Secretary shall refer the debt to the Office of the Inspector General for review. (3) Upon the determination...

  5. The Impact of the Twin Peaks Model on the Insurance Industry

    Directory of Open Access Journals (Sweden)

    Daleen Millard

    2017-02-01

    Full Text Available Financial regulation in South Africa changes constantly. In the quest to find the ideal regulatory framework for optimal consumer protection, rules change all the time and international trends have an important influence on lawmakers nationally. The Financial Sector Regulation Bill, also known as the "Twin Peaks" Bill, is the latest invention from the table of the legislature, and some expect this Bill to have far-reaching consequences for the financial services industry. The question is, of course, whether the current dispensation will change so quickly and so dramatically that it will literally be the end of the world as we know it or whether there will be a gradual shift in emphasis away from the so-called silo regulatory approach to an approach that distinguishes between prudential regulation on the one hand and market conduct regulation on the other. A further question is whether insurance as a financial service will change dramatically in the light of the expected twin peak dispensation. The purpose of this paper is to discuss the implications of the FSR Bill for the insurance industry. Instead of analysing the Bill feature for feature, the method that will be used in this enquiry is to identify trends and issues from 2014 and to discuss whether the Twin Peaks model, once implemented, can successfully eradicate similar problems in future. The impact of Twin Peaks will of course have to be tested, but at this point in time it may be very useful to take an educated guess by using recent cases as examples. Recent cases before the courts, the Enforcement Committee and the FAIS Ombud will be discussed not only as examples of the most prevalent issues of the past year or so, but also as examples of how consumer issues and systemic risks are currently being dealt with and how this may change with the implementation of the FSR Bill.

  6. INTEGRATION OF ROMANIAN INSURANCES MARKET IN EU

    Directory of Open Access Journals (Sweden)

    Gheorghe MOROŞAN

    2015-08-01

    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.

  7. Strengthening insurance partnerships in the face of climate change - Insights from an agent-based model of flood insurance in the UK.

    Science.gov (United States)

    Crick, Florence; Jenkins, Katie; Surminski, Swenja

    2018-04-25

    Multisectoral partnerships are increasingly cited as a mechanism to deliver and improve disaster risk management. Yet, partnerships are not a panacea and more research is required to understand the role that they can play in disaster risk management and particularly disaster risk reduction. This paper investigates how partnerships can incentivise flood risk reduction by focusing on the UK public-private partnership on flood insurance. Developing the right flood insurance arrangements to incentivise flood risk reduction and adaptation to climate change is a key challenge. In the face of rising flood risks due to climate change and socio-economic development insurance partnerships can no longer afford to focus only on the risk transfer function. However, while expectations of the insurance industry have traditionally been high when it comes to flood risk management, the insurance industry alone will not provide the solution to the challenge of rising risks. The case of flood insurance in the UK illustrates this: even national government and industry together cannot fully address these risks and other actors need to be involved to create strong incentives for risk reduction. Using an agent-based model focused on surface water flood risk in London we analyse how other partners could strengthen the insurance partnership by reducing flood risk and thus helping to maintain affordable insurance premiums. Our findings are relevant for wider discussions on the potential of insurance schemes to incentivise flood risk management and climate adaptation in the UK and also internationally. Copyright © 2018. Published by Elsevier B.V.

  8. Performance Measurement Of Public Sector Insurance Units After De-Tariffication

    OpenAIRE

    Sharma, Seema; Sikidar, Dr. Sujit

    2014-01-01

    Insurance sector in India was privatised to publicise insurance products. After privatisation of this industry in India in the year 2000, the next important step taken in the general insurance industry was the removal of tariffs on the non-life insurance products with effect from January1, 2007. The introduction of the free price regime has provided an impetus to the non-life sector. Before the introduction of de-tariffication almost 70% of the business of the non-life sector was driven by va...

  9. Russian Federation Financial Sector Assessment Program : Insurance Core Principles Assessment

    OpenAIRE

    World Bank; International Monetary Fund

    2016-01-01

    With about RUB 988bn (USD 26bn) in gross premium written, in 2014, the Russian insurance industry ranked 27th in the world. Non-life insurance premium accounted for 89 percent of GPW while life insurance for only 11 percent. In 2015, the industry also faced with the consequences of the Western economic sanctions which effectively closed access to the high quality Western reinsurance capaci...

  10. Nuclear power plant insurance - experience and loss statistics

    International Nuclear Information System (INIS)

    Feldmann, J.; Dangelmaier, P.

    1982-01-01

    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

  11. The future of flood insurance in the UK

    Science.gov (United States)

    Horn, Diane

    2013-04-01

    Approximately one in seven properties in the UK (3.6 million homes and businesses) are at risk of flooding. The Adaptation Sub-Committee of the UK Committee on Climate Change reported in 2012 that development on the floodplain grew at a faster rate than elsewhere in England over the past ten years, with one in five properties in the floodplain in areas of significant risk. They concluded that current levels of investment will not keep pace with the increasing risk, noting that without additional action, climate change could almost double the number of properties at significant risk by 2035. Flood insurance can contribute to risk reduction by using pricing or restrictions on availability of cover to discourage new development in flood risk areas, or to encourage the uptake of flood resilience measures. The UK insurance market currently offers flood cover as a standard feature of domestic and small business policies, with central government providing physical protection backed up by financial protection provided by the insurance industry. This approach is unusual in not passing all or part of the flood risk to government schemes. At present, flood insurance in the UK is conducted under a series of informal agreements established between the insurance industry and the Government known as the Statement of Principles. Members of the Association of British Insurers (ABI) currently agree to cover homes at risk of flooding in return for government commitment to manage flood risk. However, this arrangement is now under threat, as the insurance industry is increasingly reluctant to bear the financial burden of flooding alone. The current Statement of Principles ends on 30 June 2013 and will not be renewed. High-risk properties may be unable to obtain insurance after the Statement of Principles expires. Unusually, insurers are arguing against a free market solution, arguing that no country in the world provides universal flood cover without some form of government-led support

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

    African Journals Online (AJOL)

    The principles of insurance and types of insurance policies in construCtion industry in general is discussed. The status of consultants and contractors in Ethiopian construction sector is briefly reviewed. Questionnaires were designed to preliminary assess whether relevant insurance policies are bought by contracting and ...

  13. An Analysis of the Environment as a Means of Assessing Training Needs in the Insurance Industry in Australia

    Science.gov (United States)

    McDonald, Tom; Jackling, Beverley

    2005-01-01

    In the five years leading up to 2002 there were many significant changes in the insurance industry in Australia that brought about a range of training needs. These training needs arose from matters as diverse as mergers, increased competition, corporate failures, and legislative changes. This study includes findings from a survey of the insurance…

  14. 76 FR 7508 - National Flood Insurance Program, Policy Wording Correction

    Science.gov (United States)

    2011-02-10

    ... 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...

  15. Catastrophic risks and insurance

    International Nuclear Information System (INIS)

    Deprimoz, J.

    1988-01-01

    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

  16. The Role of Nuclear Insurance Pools

    International Nuclear Information System (INIS)

    Reitsma, S. M. S.

    2006-01-01

    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)

  17. Longevity expectations in the pension fund, insurance, and employee benefits industries.

    Science.gov (United States)

    Zhavoronkov, Alex

    2015-01-01

    Considerable progress has been made in many areas of biomedical science since the 1960s, suggesting likely increases in life expectancy and decreases in morbidity and mortality in the adult population. These changes may pose substantial risks to the pensions and benefits industries. While there is no significant statistical evidence demonstrating rapid decreases in mortality rates, there are conflicting opinions among demographers and biogerontologists on the biological limits of the human lifespan and trends in life expectancy. We administered a survey of the International Employee Benefits Association (IEBA), a large, international industry group. Industry professionals employed by consulting (35%), insurance (24%), pension (14%), and other (27%) companies responded to 32 questions. Respondents showed reasonably conservative views on the future of longevity and retirement, including that for women. The respondents formed their personal longevity expectations based on their family history and, to a lesser degree, on the actuarial life tables. Most of the sample expressed no desire to life past age 100 years, even if the enabling technologies required to maintain a healthy youthful state were available, and only a few respondents in the sample expressed a desire to live for the maximum period (at least) offered by the survey question. The majority of the respondents would not undergo any invasive procedures, and only 56% of the respondents would opt for noninvasive therapies to extend their healthy lifespans to 150 years of age if these were available.

  18. Recent developments in national antitrust practice and case law: January 2012 – May 2013

    Directory of Open Access Journals (Sweden)

    Mario Siragusa

    2014-03-01

    Full Text Available In the period under review, the Italian Competition Authority and administrative courts analyzed many important cases in different economic sectors. Some of the these cases raised extremely complex legal and economic issues. The analysis of decision practice and case law highlights some critical aspects of recent antitrust enforcement, namely: (i the need to strengthen the fight against cartels; (ii the need to refine the tools used in merger analysis, also through the use of modern econometric methods; (iii the need to enhance the role of economic analysis in the assessment of unilateral exclusionary conduct, in line with the Commission’s Guidance on Article 102 TFEU; and (iv the need to find a better balance between competition rules and sector-specific regulation, so as to avoid overlapping and inconsistencies. A further critical issue is the need to reinforce the protection of the rights of defense. In order to improve the current administrative enforcement system, it is necessary to enhance the procedural guarantees and to remove the limits on judicial review of antitrust decisions, thus enabling administrative courts to review fully, in fact and in law, any aspect of the ICA’s finding of infringement, and to pronounce also on the merits of the case.

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

    Science.gov (United States)

    Trish, Erin E; Herring, Bradley J

    2015-07-01

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

  20. Brazilian industry of natural gas: criteria for definition of relevant markets concerning the defense of competition; Industria brasileira do gas natural: criterios de definicao dos mercados relevantes para efeito de defesa da concorrencia

    Energy Technology Data Exchange (ETDEWEB)

    Mano, Gustavo; Tiryaki, Gisele Ferreira [Universidade de Salvador (UNIFACS), BA (Brazil)

    2008-07-01

    A key point in the examination of the legality of antitrust practices is the delimitation of the relevant markets where the economic relations object of the analysis take place. This is the basis for the evaluation of the market power of the agents involved and the possible harm to competition they may cause. This work offers a study of the criteria for the determination of the relevant market in the scope of the natural gas industry in Brazil. It aims at identifying the performance of the agencies taking part in the Brazilian Antitrust System (SBDC) with regards to the examination of the related antitrust practices. These agencies work in connection with the National Petroleum, Natural Gas and Biofuels Regulatory Agency (ANP), which is responsible for issuing technical reports on the subjects related to its area of competence. The analysis presented here has the main goal of verifying if the most important technical, operational and legal aspects are being adequately considered by the SBDC and ANP in the definition of the relevant markets as a basis for the judgment of the antitrust practices, and if they are coherent with the principles for fostering economic competition. The results points out that, despite the successful cooperation between the SBDC and the ANP, there are the used definition of the relevant markets for the natural gas industry still needs refinement. (author)

  1. 75 FR 54076 - National Flood Insurance Program, Policy Wording Correction

    Science.gov (United States)

    2010-09-03

    ... 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...

  2. Pricing unit-linked insurance with guaranteed benefit

    Science.gov (United States)

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

    2017-07-01

    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.

  3. An Auto Telematics System For Insurance Premium Rating amp Pricing.

    Directory of Open Access Journals (Sweden)

    Irode Philip Luvuga

    2017-12-01

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

  4. Implementing Automotive Telematics for Fleet Insurance

    Directory of Open Access Journals (Sweden)

    Marika Azzopardi

    2013-12-01

    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.

  5. The insurance industry and public-private collaborations as a vector to develop and spread EO technologies and techniques in the domain of Food Security: The Swiss Re case.

    Science.gov (United States)

    Coutu, S.; Ragaz, M.; Mäder, D.; Hammer, P.; Andriesse, M.; Güttinger, U.; Feyen, H.

    2017-12-01

    The insurance industry has been contributing to the resilient development of agriculture in multiple regions of the globe since the beginning of the 19th Century. It also has from the very beginning of the development of EO Sciences, kept a very close eye on the development of technologies and techniques in this domain. Recent advances in this area such as increased satellite imagery resolution, faster computation time and Big Data management combined with the ground-based knowledge from the insurance industry have offered farmers not only tools permitting better crop management, but also reliable and live yield coverage. This study presents several of these applications at different scales (industrial farming and micro-farming) and in different climate regions, with an emphasis on the limit of current products. Some of these limits such as lack of access of to ground data, R&D efforts or understanding of ground needs could be quickly overcome through closer public-private or private-private collaborations. However, despite a clear benefit for the Food Security nexus and potential win-win situations, those collaborations are not always simple to develop. We present here successful but also disappointing collaboration cases based on the Swiss Re experience, as a global insurance leader. As a conclusion, we highlight how academia, NGOs, governmental organization, start-ups and the insurance industry can get together to foster the development of EO in the domain of Food Security, and bring cutting-edge science to game changing industrial applications.

  6. Directions of improving information system of insurance company

    Science.gov (United States)

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

    2018-05-01

    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.

  7. Insurance: Covering the bases

    International Nuclear Information System (INIS)

    Burr, M.T.

    1992-01-01

    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

  8. Automated flood extent identification using WorldView imagery for the insurance industry

    Science.gov (United States)

    Geller, Christina

    2017-10-01

    Flooding is the most common and costly natural disaster around the world, causing the loss of human life and billions in economic and insured losses each year. In 2016, pluvial and fluvial floods caused an estimated 5.69 billion USD in losses worldwide with the most severe events occurring in Germany, France, China, and the United States. While catastrophe modeling has begun to help bridge the knowledge gap about the risk of fluvial flooding, understanding the extent of a flood - pluvial and fluvial - in near real-time allows insurance companies around the world to quantify the loss of property that their clients face during a flooding event and proactively respond. To develop this real-time, global analysis of flooded areas and the associated losses, a new methodology utilizing optical multi-spectral imagery from DigitalGlobe (DGI) WorldView satellite suite is proposed for the extraction of pluvial and fluvial flood extents. This methodology involves identifying flooded areas visible to the sensor, filling in the gaps left by the built environment (i.e. buildings, trees) with a nearest neighbor calculation, and comparing the footprint against an Industry Exposure Database (IE) to calculate a loss estimate. Full-automation of the methodology allows production of flood extents and associated losses anywhere around the world as required. The methodology has been tested and proven effective for the 2016 flood in Louisiana, USA.

  9. Increasing losses caused by natural disasters: what are the drivers, how is the insurance industry affected, what has to be done?

    Science.gov (United States)

    Hoppe, P.

    2016-12-01

    Losses caused by natural disasters are a major factor influencing the balance sheet of insurers, especially reinsurers. Such events have a high potential of creating extreme accumulation losses by affecting different business lines at the same time. The basis for long term profitable business in the insurance industry is to be able to calculate and also get risk adequate premiums for the covers of natural perils. Risk adequate means that on average over several years the losses occurring can be paid by the premium income. Losses caused by natural disasters have increased tremendously worldwide in the last decades. The main drivers have been changes in the exposed values, i.e. growth of population and wealth in affected regions. For the insurance industry this loss increasing process in general is not a problem as the premiums normally are proportional to the sum insured, i.e. the exposed value. These factors can be quantified and the loss trends can be adjusted for these changes. Munich Re just recently has developed a very sophisticated method for such a normalisation of losses. After this normalization in respect to exposed values a still residual loss trend can be either driven by changes in the vulnerability of assets or on the hazard side. Trends in both factors are not automatically considered in the premiums, they have to be detected, quantified and then built into the risk models of the insurers. Many studies as well as data from the Munich Re NatCatSERVICE suggest that weather related hazards already have changed for some perils and in some regions. Climate research implies that due to global warming such trends will increase in the coming decades. Very little quantitative data, however, on such changes still is available to allow the adjustment of the risk models of insurers. In order to do this, data with high regional resolution and also probabilities of certain scenarios would be necessary. The other gap of information is quantitative data on changes

  10. 1 The Mauritian Insurance Industry in the next Decade: Challenges ...

    African Journals Online (AJOL)

    2015-05-11

    May 11, 2015 ... The insurance business is at a critical stage in Mauritius. There has been consistent ... advantage with customers who are more concerned with convenience than price. ..... 2.5.1 Recognize and react to disruptive realities. Two of the ... whether life policies or other sustainable models are needed, insurance.

  11. The effects of firm specific factors and macroeconomics on profitability of property-liability insurance industry in Taiwan

    OpenAIRE

    Chen-Ying Lee

    2014-01-01

    This article investigates the relationship between firm specific factors and macroeconomics on profitability in Taiwanese property-liability insurance industry using the panel data over the1999 through 2009 time period. Using operating ratio and return on assets (ROA) for the two kinds of profitability indicators to measure insurers’ profitability. The results show that underwriting risk, reinsurance usage, input cost, return on investment (ROI) and financial holding group have significant in...

  12. A new dimension to EU pharma antitrust product hopping and unilateral pay for delay

    OpenAIRE

    Gallasch, Sven

    2016-01-01

    Pay for delay settlements are currently high on the competition law enforcement agenda. The focus in these investigations is on the collusive nature of the agreements between a brand company and generic companies. However, this article moves the discussion away from the commonly recognized collusive anticompetitive potential, advocating for the expansion of antitrust scrutiny of pay for delay settlements to unilateral conduct. Pay for delay settlements could be used as a “facilitator” for a b...

  13. Genetic screening, health care and the insurance industry. Should genetic information be made available to insurers?

    Science.gov (United States)

    Ossa, Diego F; Towse, Adrian

    2004-06-01

    The potential use of genetic tests in insurance has raised concerns about discrimination and individuals losing access to health care either because of refusals to test for treatable diseases, or because test-positives cannot afford premiums. Governments have so far largely sought to restrict the use of genetic information by insurance companies. To date the number of tests available with significant actuarial value is limited. However, this is likely to change, raising more clearly the question as to whether the social costs of adverse selection outweigh the social costs of individuals not accessing health care for fear of the consequences of test information being used in insurance markets. In this contribution we set out the policy context and model the potential trade-offs between the losses faced by insurers from adverse selection by insurees (which will increase premiums reducing consumer welfare) and the detrimental health effects that may result from persons refusing to undergo tests that could identify treatable health conditions. It argues that the optimal public policy on genetic testing should reflect overall societal benefit, taking account of these trade-offs. Based on our model, the factors that influence the outcome include: the size of and value attached to the health gains from treatment; deterrent effects of a disclosure requirement on testing for health reasons; incidence of the disease; propensity of test-positives to adverse select; policy value adverse selectors buy in a non-disclosure environment; and price elasticity of demand for insurance. Our illustrative model can be used as a benchmark for developing other scenarios or incorporating real data in order to address the impact of different policies on disclosure and requirement to test.

  14. The Impact of Industrial Structure of Life Insurance and Business Management Strategy on Profitability%寿险业产业结构与企业经营策略对获利能力的影响

    Institute of Scientific and Technical Information of China (English)

    戴稳胜; 张阿兰; 林桢舜; 谢邦昌

    2004-01-01

    Theory of industrial organization told us that Industry structure affect the profitability, it will also affect the enterprise's market strategy and will have indirect effect on profitability through the effect of strategy. This article present an empirical research on Chinese life insurance industry with the structure equation model as a tool, the results told us that the industrial structure has positive effects on enterprise's profitability and market strategy, and market strategy has negative effect on profitability so the industry structure has negative indirect effect on profitability, but the positive effect is more power than the negative effect. This article suggest that Chinese should continue it's opening policy and advance the cooperation in life insurance industry, and the life insurance companies should be enterprising in product innovation and investing strategy.

  15. Mental disorders among workers in the healthcare industry: 2014 national health insurance data.

    Science.gov (United States)

    Kim, Min-Seok; Kim, Taeshik; Lee, Dongwook; Yook, Ji-Hoo; Hong, Yun-Chul; Lee, Seung-Yup; Yoon, Jin-Ha; Kang, Mo-Yeol

    2018-01-01

    Numerous studies have shown that healthcare professionals are exposed to psychological distress. However, since most of these studies assessed psychological distress using self-reporting questionnaires, the magnitude of the problem is largely unknown. We evaluated the risks of mood disorders, anxiety disorders, sleep disorders, and any psychiatric disorders in workers in healthcare industry using Korea National Health Insurance (NHI) claims data from 2014, which are based on actual diagnoses instead of self-evaluation. We used Korea 2014 NHI claims data and classified employees as workers in the healthcare industry, based on companies in the NHI database that were registered with hospitals, clinics, public healthcare, and other medical services. To estimate the standardized prevalence of the selected mental health disorders, we calculated the prevalence of diseases in each age group and sex using the age distribution of the Korea population. To compare the risk of selected mental disorders among workers in the healthcare industry with those in other industries, we considered age, sex, and income quartile characteristics and conducted propensity scored matching. In the matching study, workers in healthcare industry had higher odds ratios for mood disorders (1.13, 95% CI: 1.11-1.15), anxiety disorders (1.15, 95% CI: 1.13-1.17), sleep disorders (2.21, 95% CI: 2.18-2.24), and any psychiatric disorders (1.44, 95% CI: 1.43-1.46) than the reference group did. Among workers in healthcare industry, females had higher prevalence of psychiatric disorders than males, but the odds ratios for psychiatric disorders, compared to the reference group, were higher in male workers in healthcare industry than in females. The prevalence of mood disorders, anxiety disorders, sleep disorders, and all psychiatric disorders for workers in the healthcare industry was higher than that of other Korean workers. The strikingly high prevalence of sleep disorders could be related to the frequent

  16. Insurance Cover for Revised Nuclear Liability

    International Nuclear Information System (INIS)

    Reitsma, S. M. S.

    2008-01-01

    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

  17. Insurer risk control and nuclear liability

    International Nuclear Information System (INIS)

    DeMerchant, C.

    2015-01-01

    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.

  18. Insurer risk control and nuclear liability

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-07-01

    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.

  19. Insurance Regulation: The NAIC Accreditation Program Can be Improved

    National Research Council Canada - National Science Library

    DIngell, John

    2001-01-01

    ... environment of the insurance industry and insurance regulation. In addition, it has revised the way accreditation reviews are performed and scored and has improved training for members of review teams.

  20. Institutional contexts of market power in the electricity industry

    International Nuclear Information System (INIS)

    Foer, A.A.

    1999-01-01

    Market power is widely recognized as one of the principal issues that must be dealt with if the electricity industry is to make the transition from regulation to competition. In this article, the author provides a legal and economic introduction to what the antitrust community means by market power and offers a primer on why market power is so central an issue in the electricity industry. Finally and most importantly, he offers comments on the institutional contexts of market power, exploring a process which he calls Shermanization that helps explain the institutional aspect of moving from regulation to competition and holds implications for where oversight should reside during this complex transition

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2012-11-01

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

  2. Nuclear insurance in the future Internal Market

    International Nuclear Information System (INIS)

    Mueller-Stein, J.

    1991-01-01

    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

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

    Directory of Open Access Journals (Sweden)

    Viktória Čejková

    2004-01-01

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

  4. Considerations of an environmental insurance compulsory in the industry of petroleum and natural gas; Consideracoes acerca de um seguro ambiental obrigatorio na industria do petroleo e do gas natural

    Energy Technology Data Exchange (ETDEWEB)

    Diniz, Luiz Paulo dos Santos; Medeiros, Mueller Eduardo Dantas de [Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis (ANP), Brasilia, DF (Brazil). Programa de Recursos Humanos em Direito do Petroleo, Gas Natural e Biocombustiveis

    2009-08-15

    With the flexibilizing of the monopoly activities related to oil and natural gas, introduced by Constitutional Amendment No. 9 / 1995 and Law No. 9.478/1997, other companies were introduced in the sector besides PETROBRAS, resulting in a bulky input of resources. It is estimated that the investments made by players in this market should reach a value of one hundred billion dollars by 2011, covering the purchase of equipment and services in Brazil and abroad. This picture of the industry expansion has generated significant impacts on the economy in general and in particular to the insurance industry. And the reason is simple. The new players in this market were not aware of the reality they faced. Nothing more natural, therefore, seek to protect their investment through insurance. Such openness has created a demand for insurance increasingly complex, covering not only the damage caused by the malfunction in the machinery business. Brazilian insurers sought to adapt to meet this new demand, seeking to adjust to international market standards. In recent years there have been some accidents in the industry of oil and natural gas. The consequence is a distortion in the insurance market caused by the insufficient volume of premiums to cover the damage resulting from these claims. The environment certainly is a very delicate and vulnerable position, given the magnitude of the damage they may suffer as a result of the activities of oil companies and natural gas. The figure comes from insurance, as well as a possible mechanism to achieve the intent of protecting the environment. In Congress, transact the Law Project that deal with the establishment of a environment insurance for companies. On them will be made some considerations.

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

    Science.gov (United States)

    Forster, J.; Entrup, B.

    2017-10-01

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

  6. The role of insurance and risk management in new power plant projects

    International Nuclear Information System (INIS)

    Ryan, R.

    1988-01-01

    Insurance, and other risk management techniques, can be used to facilitate the financing and construction of power plant projects. This paper describes certain techniques, then it concentrates on insurance based solutions. The objective of this paper is to point out how the insurance industry can help small power producers. First, the standard insurance coverages will be reviewed. Then coverages that have been specifically designed for the alternative energy, cogeneration and small power producing industries will be explained. Some real life examples will be discussed to show how the coverages really work

  7. Designing the customer (insurers) satisfaction model of the Iranian ...

    African Journals Online (AJOL)

    Journal of Fundamental and Applied Sciences ... The qualitative modeling process of this research, which was carried out in the grounded theory ... for insurers in the insurance industry of Iran (according to Iranian- Islamic characteristics).

  8. HOW AFFECTED WAS WORLD INSURANCE MARKET BY GLOBAL CRISIS?

    Directory of Open Access Journals (Sweden)

    ANA PREDA

    2013-12-01

    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.

  9. United States, Europe and Poland Different Stages of Antitrust Tying War in the New Economy

    Directory of Open Access Journals (Sweden)

    Mariusz SWORA

    2006-06-01

    Full Text Available Microsoft’s case has led to heated debates, both in Europe and the United States of America, on the abuse of the dominant position and on the prohibition of tying. This discussion, both in Europe and the United States, is not finished. In this article the author presents legal implications of tying products in Europe and Poland and confronts them with the American approach to tying. In Poland, a country with a fast developing economy, with the growing level of foreign investments, discussion on monopolist practices under the conditions of a fast technological development1 has not really commenced yet. The problems of innovation and development of New Economy undertakings has gained new impetus following Poland’s accession to the European Union. It is a matter of time when the anti-trust law begins to show interest in them. There are some indications that this has already taken place. In the first part of this article the author briefly presents the discussion related to Microsoft III case in the United States insofar as it pertains to New Economy issues. The second and third parts address legal and political aspects of the Microsoft case in the European Union. In the fourth part legal aspects related to tying practices in Poland are presented. The article aims to show that instrumental and mechanical treatment of tying practices used by firms having the market power under conditions of technological progress is not proper. The problem of antitrust analysis of such practices is universal, as universal as these practices are. However, the problem is solved differently in the United States and in Europe and the reasons for such a different approach are rooted in the legal system and policy enforcement. Microsoft antitrust is global. After US and European cases, Korean competition authority has found Microsoft guilty of tying practices2. Regarding Microsoft problems with tying it is necessary to ask the question whether tying practices are

  10. Nuclear insurance risk assessment using risk-based methodology

    International Nuclear Information System (INIS)

    Wendland, W.G.

    1992-01-01

    This paper presents American Nuclear Insurers' (ANI's) and Mutual Atomic Energy Liability Underwriters' (MAELU's) process and experience for conducting nuclear insurance risk assessments using a risk-based methodology. The process is primarily qualitative and uses traditional insurance risk assessment methods and an approach developed under the auspices of the American Society of Mechanical Engineers (ASME) in which ANI/MAELU is an active sponsor. This process assists ANI's technical resources in identifying where to look for insurance risk in an industry in which insurance exposure tends to be dynamic and nonactuarial. The process is an evolving one that also seeks to minimize the impact on insureds while maintaining a mutually agreeable risk tolerance

  11. Vaccines as Epidemic Insurance.

    Science.gov (United States)

    Pauly, Mark V

    2017-10-27

    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.

  12. Vaccines as Epidemic Insurance

    Directory of Open Access Journals (Sweden)

    Mark V. Pauly

    2017-10-01

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

  13. An Evaluation of Takaful Insurance: Case of Pakistan

    OpenAIRE

    Hanif, Muhammad; Iqbal, Abdullah

    2014-01-01

    Islamic finance being a relatively new business segment, however, have shown promising results so far. In addition to banking services, Islamic finance has started penetrating in other sectors including capital markets and insurance. This study aims to evaluate the newly emerging Takaful sector in Pakistani market. The study covers an overview of insurance sector including Takaful; comparative financial analysis of Takaful industry with conventional insurance; an insight into the accounting a...

  14. Health insurance--a challenge in India.

    Science.gov (United States)

    Presswala, R G

    2004-01-01

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

  15. Recent Trends in Antitrust Enforcement

    Directory of Open Access Journals (Sweden)

    Mario Siragusa

    2015-10-01

    Full Text Available This article intends to discuss a selection of the most relevant features of the most recent trends in antitrust enforcement. Firstly, anticompetitive signalling will be addressed: its assessment depends on the kind of information provided. Where such information is of public knowledge or is very well known by the market participants, signalling should not be deemed as anticompetitive. Secondly, the Power Cable case has raised for the first time various problematic issues, such as the possibility to impose parental liability on a purely financial investor, even where the presumed direct infringer would have been able to pay the fine. This appears to be irreconcilable with the objectives for which the case law on parental liability has been elaborated. Thirdly, as to the concept of restriction of competition by object, it is argued that the Intel case does not disavow the principles established in Cartes Bancaires. Indeed, the finding of a violation and the different methodology applied in the first case are only due to its specific factual circumstances. Finally, the nouvelle vague of the case law on the anticompetitive abuse of rights has led to two opposite approaches, one at the EU and the other at the Italian level. The first one, based on the finding of objective circumstances, is perfectly consistent with existing EU case law, while the second, exclusively focused on the exclusionary intent, seems to be in sharp contrast with it. The hope is that the Court of Justice will intervene to resolve this contradiction.

  16. Competitive bidding might create antitrust problems

    International Nuclear Information System (INIS)

    Smith, D.J.

    1991-01-01

    With the increased use and complexity of competitive bidding systems for new generating capacity there is the possibility that federal antitrust laws may be violated. Anyone violating Section 1 of the Sherman Act could face stiff penalties. Falling into this category of violations are agreements among competitors, price fixing, and elimination of competitors through the allocations of customers and/or territories. It does not have to be in writing for someone to be charged with bid rigging. In fact, it is stated that bid rigging is typically proved from the testimony of one of the persons involved. According to this paper, a charge of rigging the bids can come from: One or more bidders offering to provide power at a higher price than another bidder. Two or more bidders offering to supply power at the same price. One or more potential bidders not submitting a bid or intentionally bidding high. One bidder and not the others offering a more favorable construction schedule or an alternative proposal. One firm offering to renegotiate if its bid is rejected while the other bidders refuse. These are just some of the agreements that are illegal. The penalties for such violations of the Sherman Act are severe: fines of up to $100,000 and up to three years in jail for individuals; up to $1 million in fines for corporations

  17. A two-component copula with links to insurance

    Directory of Open Access Journals (Sweden)

    Ismail S.

    2017-12-01

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

  18. Industrial accident compensation insurance benefits on cerebrovascular and heart disease in Korea.

    Science.gov (United States)

    Kim, Hyeong Su; Choi, Jae Wook; Chang, Soung Hoon; Lee, Kun Sei

    2003-01-01

    The purpose of this study is to present the importance of work-related cerebrovascular and heart disease from the viewpoint of expenses. Using the insurance benefit paid for the 4,300 cases, this study estimated the burden of insurance benefits spent on work-related cerebrovascular and heart disease. The number of cases with work-related cerebrovascular and heart disease per 100,000 insured workers were 3.36 in 1995; they were increased to 13.16 in 2000. By the days of occurrence, the estimated number of cases were 1,336 in 2001 (95% CI: 1,211-1,460 cases) and 1,769 in 2005 (CI: 1,610-1,931 cases). The estimated average insurance benefits paid per person with work-related cerebrovascular and heart disease was 75-19 million won for medical care benefit and 56 million won for other benefits except medical care. By considering the increase in insurance payment and average pay, the predicted insurance benefits for work-related cerebrovascular and heart disease was 107.9 billion won for the 2001 cohort and 192.4 billion won for the 2005 cohort. From an economic perspective, the results will be used as important evidence for the prevention and management of work-related cerebrovascular and heart disease. PMID:12923322

  19. Demand of Insurance under the Cost-of-Capital Premium Calculation Principle

    Directory of Open Access Journals (Sweden)

    Michael Merz

    2014-06-01

    Full Text Available We study the optimal insurance design problem. This is a risk sharing problem between an insured and an insurer. The main novelty in this paper is that we study this optimization problem under a risk-adjusted premium calculation principle for the insurance cover. This risk-adjusted premium calculation principle uses the cost-of-capital approach as it is suggested (and used by the regulator and the insurance industry.

  20. A scoping study on the costs of indoor air quality illnesses:an insurance loss reduction perspective

    Energy Technology Data Exchange (ETDEWEB)

    Chen, Allan; Vine, Edward L.

    1998-08-31

    The incidence of commercial buildings with poor indoor air quality (IAQ), and the frequency of litigation over the effects of poor IAQ is increasing. If so, these increases have ramifications for insurance carriers, which pay for many of the costs of health care and general commercial liability. However, little is known about the actual costs to insurance companies from poor IAQ in buildings. This paper reports on the results of a literature search of buildings-related, business and legal databases, and interviews with insurance and risk management representatives aimed at finding information on the direct costs to the insurance industry of poor building IAQ, as well as the costs of litigation. The literature search and discussions with insurance and risk management professionals reported in this paper turned up little specific information about the costs of IAQ-related problems to insurance companies. However, those discussions and certain articles in the insurance industry press indicate that there is a strong awareness and growing concern over the "silent crisis" of IAQ and its potential to cause large industry losses, and that a few companies are taking steps to address this issue. The source of these losses include both direct costs to insurers from paying health insurance and professional liability claims, as weIl as the cost of litigation. In spite of the lack of data on how IAQ-related health problems affect their business, the insurance industry has taken the anecdotal evidence about their reality seriously enough to alter their policies in ways that have lessened their exposure. We conclude by briefly discussing four activities that need to be addressed in the near future: (1) quantifying IAQ-related insurance costs by sector, (2) educating the insurance industry about the importance of IAQ issues, (3) examining IAQ impacts on the insurance industry in the residential sector, and (4) evaluating the relationship between IAQ improvements and their impact on

  1. Legal and economic implications of the competition policy of the Federal Cartel Office for the public sector of the power supply industry

    International Nuclear Information System (INIS)

    Hartmann, U.

    1994-01-01

    The German gas industry defends itself against the planned amendments of the German Energy Act and the Antitrust Law, objections being based on energy, environmental and regulatory considerations. The amendments most under debate are intended to discontinue demarcation agreements among suppliers, and to establish mandatory Third Party Access. The author's concluding statement is that the gas industry cannot see the point in the Government's move to prescribe such a (probably lethal) medicine to a flourishing branch of industry. (orig./HSCH) [de

  2. Joint ventures e a política antitruste brasileira

    Directory of Open Access Journals (Sweden)

    Ana Paula Avellar

    2012-12-01

    Full Text Available As políticas de defesa da concorrência integram atualmente o conjunto fundamental de instituições necessárias à promoção do crescimento e a busca das sociedades por arranjos mais eficientes. O presente trabalho tem como objetivo realizar uma análise da política antitruste brasileira concentrando-se no tratamento dado pelas autoridades à constituição de joint ventures. Na realização dessa tarefa, foram feitas revisões teóricas, constatações acerca dos procedimentos de autoridades internacionais sobre o assunto e um estudo empírico abordando casos julgados no Brasil entre os anos de 2002 e 2010. O resultado encontrado revela a inexistência de normatização específica para o tratamento das joint ventures no Brasil, culminando, assim, em uma relativa discricionariedade por parte dos órgãos do SBDC na análise desses atos.

  3. ANTITRUST ISSUES IN THE LARGE-SCALE FOOD DISTRIBUTION SECTOR

    Directory of Open Access Journals (Sweden)

    Enrico Adriano Raffaelli

    2014-12-01

    Full Text Available In light of the slow modernization of the Italian large-scale food distribution sector, of the fragmentation at national level, of the significant roles of the cooperatives at local level and of the alliances between food retail chains, the ICA during the recent years has developed a strong interest in this sector.After having analyzed the peculiarities of the Italian large-scale food distribution sector, this article shows the recent approach taken by the ICA toward the main antitrust issues in this sector.In the analysis of such issues, mainly the contractual relations between the GDO retailers and their suppliers, the introduction of Article 62 of Law no. 27 dated 24th March 2012 is crucial, because, by facilitating and encouraging complaints by the interested parties, it should allow the developing of normal competitive dynamics within the food distribution sector, where companies should be free to enter the market using the tools at their disposal, without undue restrictions.

  4. 50 Años de política antitrust comunitaria

    Directory of Open Access Journals (Sweden)

    Fernando Diez Estella

    2013-07-01

    Full Text Available Este artículo se realiza, al cumplir 50 años del Tratado de Roma el balance de la que comenzó siendo la Comunidad Económica y que hoy es la Unión Europea, a partir del análisis de la política de defensa de la competencia o política «antitrust» comunitaria. Bajo este marco retomaron temas como los fines del derecho comunitario de la competencia, el proceso de modernización la relación entre el derecho interno y la legislación comunitaria. Por otra parte, reconsiderando los acuerdos, decisiones y prácticas concertadas entre empresas, los tipos de convenios, efectos, excepciones y procedimientos, así como otros temas de interés relacionados con la competencia de las empresas en el marco de la Legislación de la Unión Europea. Política antitrus, competencia,

  5. 2001 Industry Studies: Services Industry

    National Research Council Canada - National Science Library

    Cervone, Michael

    2001-01-01

    .... has maintained its economic strength in traditional services industries such as transportation, tourism, public utilities, finance and insurance, accounting, engineering, architecture, medical, legal...

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

    Directory of Open Access Journals (Sweden)

    Subiakto Soekarno

    2012-01-01

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

  7. Bond-market skepticism and stock-market exuberance in the hospital industry.

    Science.gov (United States)

    Robinson, James C

    2002-01-01

    The hospital industry needs funds to refurbish physical facilities, upgrade clinical and information technologies, and rebuild financial positions weakened by past external challenges and unwise organizational strategies. The financial markets offer a marked contrast in capital access, as bond creditors remain skeptical while stock investors plunge back into the once-shunned industry. Ironically, high stock prices may drive the for-profit chains to repeat past cycles of overexpansion, while weak bond ratings may save non-profit systems from a comparable loss of focus on the core business of operating and improving inpatient facilities. This turbulence has implications for public payment, antitrust, and financial disclosure policies.

  8. The German insurance industry. Yearbook 1990 of the Gesamtverband der Deutschen Versicherungswirtschaft e.V

    International Nuclear Information System (INIS)

    1990-01-01

    The DKVG (German nuclear power plant insurance association), founded in 1957, has 104 member insurance companies, all registered in the Federal Repbulic of Germany. At present property insurance amounts to 1.5 billion DM, and liability insurance to 200 million DM. The overall damage ratio was 15.4 (1988: 5.9) percent, whereby home business remained claim-free in 1989. The relatively low damage ratio of 15 percent should not deviate from the fact that nuclear insurers always have to reckon with large damage. At the moment it would cost them a maximum gross sum of 1.7 billion DM (property and liability insurance); on account of DKVG 685 million DM. (orig./HP) [de

  9. History, problems, and prospects of Islamic insurance (Takaful) in Bangladesh.

    Science.gov (United States)

    Khan, Issa; Rahman, Noor Naemah Binti Abdul; Yusoff, Mohd Yakub Zulkifli Bin Mohd; Nor, Mohd Roslan Bin Mohd

    2016-01-01

    This study explains the history, current problems, and future possibilities of Islamic insurance (takaful) in Bangladesh. To articulate these issues, the researcher has adopted the qualitative method, and data has been collected through secondary sources i.e. articles, books, and online resources. The study reveals that Islamic insurance in Bangladesh is regulated by the Insurance Act 2010 which is contradictory with Islamic insurance causing numerous problems for Islamic insurance. This study also points out that Islamic insurance is a fast growing industry with huge prospects in Bangladesh. The government should introduce separate regulations for both Islamic and conventional insurance. The research concludes with suggestions for the further development of Islamic insurance in Bangladesh.

  10. 77 FR 16453 - Student Health Insurance Coverage

    Science.gov (United States)

    2012-03-21

    ... 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...

  11. Tradition and change in power industry legislation

    International Nuclear Information System (INIS)

    Baur, J.F.; Boerner, B.; Friauf, K.H.; Salzwedel, J.; Selmer, P.

    1986-01-01

    On September 24-25, 1985 the 15th conference of the Institute for Energy Law took place in Cologne. This book contains five of the lectures held at the conference. They deal with the following subjects: Constitutional restrictions of autonomous energy policy of the Land governments; compulsory connection to and use of district heating; is there any necessity for amending the anti-trust law for reasons of energy policy; environmental law - planning law - gaps in the legislation concerning the energy sector; Energy Industry Law - are there legislative deficiencies, or is it an adequate, correct legislative instrument. (HSCH) [de

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

    Science.gov (United States)

    Becher, St

    2016-06-01

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

  13. The Emergence of Cross-Border Insurance Groups within Europe with Centralised Risk Management

    NARCIS (Netherlands)

    Schoenmaker, D.; Oosterloo, S.; Winkels, O.

    2008-01-01

    This paper analyses the degree of internationalisation of insurance business. Using a novel data set of 25 large EU insurance groups, we find that the insurance industry has a strong international orientation. About 55 percent of the business of these large insurance groups is conducted abroad. The

  14. 78 FR 32709 - Open Meeting of the Federal Advisory Committee on Insurance

    Science.gov (United States)

    2013-05-31

    ... impact of global demographics on the insurance industry; receive a report on regulatory developments... DEPARTMENT OF THE TREASURY Open Meeting of the Federal Advisory Committee on Insurance AGENCY... announces that the Department of the Treasury's Federal Advisory Committee on Insurance will convene a...

  15. IoT and Connected Insurance Reshaping The Health Insurance Industry. A Customer-centric “From Cure To Care” Approach

    Directory of Open Access Journals (Sweden)

    A. Silvello

    2017-12-01

    Full Text Available An increasing global population, the rise in number of chronic disease patients and the threat of global epidemics have made the way for technology as a potential answer to many of these problems. Health insurance can contribute to the resolution of some of these issues but insurers need to transition from simple “Payers” to “Players” in order to achieve that. They need to become points of reference on which the customer and the health care system can count on. This is possible and is strictly related to connected insurance and in particular to wearables and devices that are able to gather vital data from patients and share them with the care givers.

  16. How e-business influences on time customer delivery: An empirical investigation on insurance industry

    Directory of Open Access Journals (Sweden)

    Naser Azad

    2013-11-01

    Full Text Available During the past few years, e-business has revolutionized insurance industry and it has become as one of the most important techniques to reach global market. This paper presents an empirical investigation to find important factors influencing on time delivery to customers. The proposed study of this paper designs a questionnaire consists of 28 items in Likert scale, which was reduced to 24 and using principle component analysis, the study finds different important factors. Cronbach alpha is calculated as 0.94. In addition, Kaiser-Meyer-Olkin Measure of Sampling Adequacy and Approx. Chi-Square are 0.882 and 2462, respectively. The study determines four important factors including dynamic organization, environment opportunities, flexible structure and customer relationship management.

  17. Performance of the Life Insurance Industry Under Pressure : Efficiency, Competition, and Consolidation

    NARCIS (Netherlands)

    Bikker, Jacob A.

    2016-01-01

    This article investigates efficiency and competition in the Dutch life insurance market by estimating unused scale economies and measuring efficiency-market share dynamics during 1995-2010. Large unused scale economies exist for small- and medium-sized life insurers, indicating that further

  18. PENGATURAN DAN PENEGAKAN HUKUM PEMBOIKOTAN DALAM ANTITRUST LAW AMERIKA SERIKAT

    Directory of Open Access Journals (Sweden)

    Siti Anisah

    2016-01-01

    Full Text Available Boycott is one of violations in the competition law that eliminating the freedom of parties to enter the market. The aim of it no other than lessened fair competition. Theoretically, the issue related boycott discuss about the approach utilised by the authority to investigate and enforce boycott and its meaning: whether boycott is vertical or horizontal, or both; and what are the criteria of the violations? Given so few references on boycott, this paper attempts to reveal the regulation and the enforcement of it in the United States. It is aimed as reference to regulate and/or to settle the competition law cases of boycott in Indonesia in the future day. The United States does not specifically state boycott in the Antitrust Law. The United States includes boycott as concerted to deal and refuse to deal as ruled in the Section 1 of Sherman Act.

  19. From Risk to Opportunity. How Insurers Can Proactively and Profitably Manage Climate Change

    International Nuclear Information System (INIS)

    Mills, E.; Lecomte, E.

    2006-08-01

    Last year's USD 45 billion of insured losses from Hurricane Katrina was only the latest reminder of why investors and consumers are concerned about the impacts of climate change on the insurance industry. Twelve months after the devastating storm hit New Orleans, insurers and their shareholders are still feeling the ripples. Record insured losses, rating downgrades, coverage pullbacks and class-action lawsuits are just a few of the reverberations that have been felt across the industry. Meanwhile, consumers are feeling the combined sting of price shocks and reduced availability. So serious is the issue that 20 leading investors, representing over $800 billion in assets, called on the nation's largest insurance companies to disclose their financial exposure from climate change and steps they are taking to reduce those financial impacts. But, while most of the attention is focused on the growing risks, climate change also creates vast business opportunities to be part of the solution to global warming. Just as the industry has historically asserted its leadership to minimize risks from building fires and earthquakes, insurers have a huge opportunity today to develop creative loss-prevention products and services that will reduce climate-related losses for consumers, governments and insurers, while trimming the emissions causing global warming. This report focuses on the encouraging progress made by insurers to develop these new products and services. It identifies more than 190 concrete examples available, or soon-to-be-available, from dozens of insurance providers in 16 countries. In addition to benefiting insurers' core business and investment activities, these programs afford insurers the opportunity to differentiate their products from their competitors, while also enhancing their reputation with customers who are increasingly looking for all sectors of the industry to come forward with effective responses to the threats caused by climate change. More than half

  20. Discovering the Miracle of Large Numbers of Antitrust Investigations in Russia: The Role of Competition Authority Incentives

    OpenAIRE

    Svetlana Avdasheva; Dina Tsytsulina; Svetlana Golovanova; Yelena Sidorova

    2015-01-01

    Many antitrust investigations in Russia continue to present a challenge for the assessment of competition policy and international enforcement ratings. On the one hand, many infringement decisions may be interpreted as an indicator of high enforcement efforts in the context of rigid competition restrictions and the significant related harm to social welfare. On the other hand, many investigations proceed under poor legal and economic standards; therefore, the impact of decisions and remedies ...

  1. Risk Management in the banking and insurance sector

    Directory of Open Access Journals (Sweden)

    Ibrahim Mala

    2018-03-01

    Full Text Available Risk management is becoming an integral part of every organization, especially for the banking and Insurance sector because of their high-risk business. Both sectors try to manage the risks of their clients and their own risks. But, challenges in the banking and insurance industry are frequently influenced by the liquidity rations and the amount and quality of capital as ground requirements for risk management. The risk exposure in recent times is becoming more complex, more dynamic and diverse. Hence, we need to understand the risks which can be taken and the risks which should be avoided. In the other side insurance policies are long term, enabling insurers to stabilize the financial system and oft en insurance is the final transfer of risk. In this paper we will analyze an overview of risk management in the banking and insurance sector.

  2. IoT enabled Insurance Ecosystem - Possibilities Challenges and Risks

    OpenAIRE

    Manral, Jai

    2015-01-01

    Internet of Thing (IoT) is looking over to overhaul the business processes of many industries including insurance domain. The current line of business such as Property and Casualty, Health, and Life Insurance can avail tremendous benefits from the contextual and relevant data being generated from billions of connected devices; Smartphone's, wearable gadget and other electronic smart sensors. For P&C insurer's the biggest challenges is not the rapidly changing environment but tackling these ch...

  3. Life insurance, living benefits, and physician-assisted death.

    Science.gov (United States)

    Parker, Frederick R; Rubin, Harvey W; Winslade, William J

    2004-01-01

    One of the most significant concerns about the legalization of physician-assisted death in the United States relates to the possibility that a chronically or terminally ill person would choose to end her or his life for financial reasons. Because we believe that the life insurance industry is uniquely poised to help minimize any such incentive, we submit that it has a moral obligation to do so. In particular, we propose that the industry encourage greater flexibility in the payout of policy benefits in the event an insured should be diagnosed with a terminal illness or suffer from intractable pain.

  4. The imagine of establishing China nuclear insurance model

    International Nuclear Information System (INIS)

    Wu Yimin

    2010-01-01

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

  5. Genetic discrimination in health insurance: current legal protections and industry practices.

    Science.gov (United States)

    Pollitz, Karen; Peshkin, Beth N; Bangit, Eliza; Lucia, Kevin

    2007-01-01

    Most states have enacted genetic nondiscrimination laws in health insurance, and federal legislation is pending in Congress. Scientists worry fear of discrimination discourages some patients from participating in clinical trials and hampers important medical research. This paper describes a study of medical underwriting practices in the individual health insurance market related to genetic information. Underwriters from 23 companies participated in a survey that asked them to underwrite four pairs of hypothetical applicants for health insurance. One person in each pair had received a positive genetic test result indicating increased risk of a future health condition--breast cancer, hemochromatosis, or heart disease--for a total of 92 underwriting decisions on applications involving genetic information. In seven of these 92 applications, underwriters said they would deny coverage, place a surcharge on premiums,or limit covered benefits based on an applicant's genetic information.

  6. Nuclear insurance and indemnity

    International Nuclear Information System (INIS)

    Kovan, D.

    1976-01-01

    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.)

  7. Distribution channels of insurance and reinsurance services

    OpenAIRE

    Njegomir Vladimir

    2007-01-01

    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...

  8. Energy-Efficiency Options for Insurance Loss Prevention

    Energy Technology Data Exchange (ETDEWEB)

    Mills, E. [Ernest Orlando Lawrence Berkeley National Lab., CA (United States). Environmental Energy Technologies Div.; Knoepfel, I. [Swiss Reinsurance Co., Zurich (Switzerland)

    1997-06-09

    Energy-efficiency improvements offer the insurance industry two areas of opportunity: reducing ordinary claims and avoiding greenhouse gas emissions that could precipitate natural disaster losses resulting from global climate change. We present three vehicles for taking advantage of this opportunity, including research and development, in- house energy management, and provision of key information to insurance customers and risk managers. The complementary role for renewable energy systems is also introduced.

  9. The insurance of power stations at home and abroad

    International Nuclear Information System (INIS)

    Braun, H.

    1975-01-01

    The electricity supply industry is the largest growing industry in industrial nations today. In the Federal Republic of Germany alone, for example, an increase in capacity in the region of 30,000 MWe (59%) is expected over the next five years, which represents an investment sum of around DM 28,000 million. To financially safeguard these enormous investments against the eventuality of loss and damage, the Allianz has - for more than 75 years now - provided insurance cover during the construction period and during operation, tailored to meet the respective, individual requirements. In this contribution, a summarised review is furnished of the various types of insurance available, which also take into consideration the specific conditions prevailing abroad. (orig.) [de

  10. Nuclear liability insurance: the Price-Anderson reparations system and the claims experience of the nuclear industry

    International Nuclear Information System (INIS)

    Marrone, J.

    1983-01-01

    The manner in which the Price-Anderson Law operates to provide reparations is reviewed, and the changes made in the law by Congress in 1975 are outlined. Nuclear liability insurers' response to the Three Mile Island accident is described, including emergency assistance funds advanced to qualified evacuees and the claims and litigations that followed. Other nuclear liability claims that have been asserted are described as being brought chiefly by onsite workers. Good health physics protection of workers is acknowledged, but the need to improve record keeping for transient workers is stressed. The nuclear industry is urged to implement a more effective record-keeping program for such workers

  11. Financial Integration and Tax Efficiency –Premises of Antitrust Policy and Economic Growth

    Directory of Open Access Journals (Sweden)

    Mihai Mărginean

    2016-01-01

    Full Text Available The aims of this paper is to highlight the relationship between financial integration, taxation and anti-monopoly policy.We will focus on the arguments that come to strengthen that the effectiveness of anti-monopoly policy depends on effective measures in the area of taxation and hence the effects of taxation. Basically, in our analysis, we built a research that stressed the importance of interplay between the variables involved and the objective of economic growth. Noting that the public income and expeenditures (item that showing the importance of administration sector in the economy, depends on effective antitrust policy. For this analysis, we used data between 2008 and 2014 from the Competition Council and Eurostat.

  12. Multivariate Frequency-Severity Regression Models in Insurance

    Directory of Open Access Journals (Sweden)

    Edward W. Frees

    2016-02-01

    Full Text Available In insurance and related industries including healthcare, it is common to have several outcome measures that the analyst wishes to understand using explanatory variables. For example, in automobile insurance, an accident may result in payments for damage to one’s own vehicle, damage to another party’s vehicle, or personal injury. It is also common to be interested in the frequency of accidents in addition to the severity of the claim amounts. This paper synthesizes and extends the literature on multivariate frequency-severity regression modeling with a focus on insurance industry applications. Regression models for understanding the distribution of each outcome continue to be developed yet there now exists a solid body of literature for the marginal outcomes. This paper contributes to this body of literature by focusing on the use of a copula for modeling the dependence among these outcomes; a major advantage of this tool is that it preserves the body of work established for marginal models. We illustrate this approach using data from the Wisconsin Local Government Property Insurance Fund. This fund offers insurance protection for (i property; (ii motor vehicle; and (iii contractors’ equipment claims. In addition to several claim types and frequency-severity components, outcomes can be further categorized by time and space, requiring complex dependency modeling. We find significant dependencies for these data; specifically, we find that dependencies among lines are stronger than the dependencies between the frequency and average severity within each line.

  13. Proposal of Effective Quality Control and Insurance System of Construction Industry

    OpenAIRE

    Kawarasaki, Yuta; Nasu, Seigo

    2007-01-01

    In this research, the kinds and the number of defective qualities are examined, and the current state of the defective quality is understood. In addition, a social cost led by analyzing the quality control cost function and the quality insurance cost function in making optimal balance, and requesting a total cost are analyzed. The insurance system that adds the parameter of citizen’s senses of trust at the end leading to an ideal social cost in evaluating the optimal construction management l...

  14. Distribution channels of insurance and reinsurance services

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2007-01-01

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

  15. UK nuclear terrorism insurance arrangements: an overview

    International Nuclear Information System (INIS)

    Tetley, M. G.

    2004-01-01

    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)

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

    OpenAIRE

    Fonseca, Melbourne

    2008-01-01

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

  17. Green commercial building insurance in Malaysia

    Science.gov (United States)

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

    2017-03-01

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

  18. Innovative insurance plan promises to leverage green power

    International Nuclear Information System (INIS)

    Edge, Gordon

    1999-01-01

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

  19. The United States nuclear insurance program: an update of recent developments and trends

    International Nuclear Information System (INIS)

    Cummings, L.G.

    1978-01-01

    There are numerous developments concerning nuclear insurance in the United States at present. The debate on the constitutionality of the Price-Anderson Act questions the principle of the limitation of the operators liability. The insurance market is undergoing changes with the reorganisation of the four main pools, NELIA (Nuclear Energy Liability Insurance Association), NEPIA (Nuclear Energy Property Insurance Association), MAELU (Mutual Atomic Energy Liability Underwriters), MAERP (Mutual Atomic Energy Reinsurance Pool). Insurance premiums for damage have been revised on several occasions following industrial demand and the development of the insurance market capacity. (NEA) [fr

  20. An exploration study to detect important factors influencing insurance firms

    Directory of Open Access Journals (Sweden)

    Farzaneh Soleimani

    2013-11-01

    Full Text Available The recent trend on competition among insurance firms has increased motivation to look for important factors influencing this industry. In this paper, we present an empirical investigation to find important factors shaping this industry. The proposed study designs a questionnaire in Likert scale and, using principal component analysis, detects important factors on the success of this industry. Cronbach alpha is calculated as 0.849, and Kaiser-Meyer-Olkin and Bartlett's Test are calculated as 0.873 and 12744 with (Sig. =0.000, respectively. The study has detected four important factors including quality of service casualties, sales improvement and advertisement, quality of issuance of insurance policies and quality of work force.

  1. Health insurance, cost expectations, and adverse job turnover.

    Science.gov (United States)

    Ellis, Randall P; Albert Ma, Ching-To

    2011-01-01

    Because less healthy employees value health insurance more than the healthy ones, when health insurance is newly offered job turnover rates for healthier employees decline less than turnover rates for the less healthy. We call this adverse job turnover, and it implies that a firm's expected health costs will increase when health insurance is first offered. Health insurance premiums may fail to adjust sufficiently fast because state regulations restrict annual premium changes, or insurers are reluctant to change premiums rapidly. Even with premiums set at the long run expected costs, some firms may be charged premiums higher than their current expected costs and choose not to offer insurance. High administrative costs at small firms exacerbate this dynamic selection problem. Using 1998-1999 MEDSTAT MarketScan and 1997 Employer Health Insurance Survey data, we find that expected employee health expenditures at firms that offer insurance have lower within-firm and higher between-firm variance than at firms that do not. Turnover rates are systematically higher in industries in which firms are less likely to offer insurance. Simulations of the offer decision capturing between-firm health-cost heterogeneity and expected turnover rates match the observed pattern across firm sizes well. 2010 John Wiley & Sons, Ltd.

  2. Switzerland; Financial Sector Assessment Program: Factual Update: Insurance Sector Market and Regulatory Developments

    OpenAIRE

    International Monetary Fund

    2007-01-01

    This paper presents a factual update of the Insurance Core Principles including insurance sector market and regulatory developments for Switzerland. Regulatory reforms since 2003 have updated Switzerland’s regulatory and supervisory regime for the insurance industry to bring it in line with international best practices. The Insurance Supervision Law (ISL) has reoriented the regulatory focus and expanded the regulatory scope to include group/conglomerate supervision, corporate governance, risk...

  3. INSTITUTIONAL SUPPORT SOSIAL INSURANCE AGAINST OCCUPATIONAL ACCIDENTS IN UKRAINE

    Directory of Open Access Journals (Sweden)

    O. Gamankova

    2015-04-01

    Full Text Available The paper deals with the peculiarities of formation of relationships in the reform of social security. Examines institutional support provided social insurance accidents with the latest trends reform of the sector. The study notes that the organization of social security is lost insurance principle, the general principles of the Social Insurance Institute, added other excess principles that form the basis for misappropriation of funds and various abuses. These problems are urgent and require research. The paper reviews the basic principles to achieve the optimal balance of economic and social needs of providing social protection of citizens of Ukraine. The results emphasize the need for heightened security procedures for consolidation of compulsory state social insurance against industrial accidents and the State Mandatory Social Insurance against disability.

  4. Environmental pollution and liability insurance

    International Nuclear Information System (INIS)

    Boediker, T.

    1980-01-01

    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

  5. Social insurance for health service.

    Science.gov (United States)

    Roemer, M I

    1997-06-01

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

  6. Corporate social responsibility in the healthcare insurance industry: a cause-branding approach.

    Science.gov (United States)

    Smith, Alan D

    2009-01-01

    As citizens find healthcare issues to be the most important for companies to address, cause-branding as a suitable analysis for competitive comparison of any healthcare insurance firm's CSR would be in order. When these healthcare issues are properly addressed through CSR programmes of appropriate service providers, society benefits from better health, and the company benefits from decreased claims. Possible backlash of negative publicity may occur when stakeholders envision the company as merely contributing to community welfare as a means of advertising its compassion in exchange for a greater portion of the healthcare insurance marketplace. Several healthcare insurance providers were inspected, one in greater detail, on a series of principles grounded in cause-branding strategies were included in the case study of CSR initiatives, followed by the practical applications of lessons learned from the case studies.

  7. Revised Paris and Vienna Nuclear Liability Conventions - Challenges for Nuclear Insurers

    International Nuclear Information System (INIS)

    Tetley, M.

    2006-01-01

    The revisions recently implemented to both the Vienna and Paris nuclear liability Conventions are intended to widen significantly the amount and scope of compensation payable in the event of a nuclear accident. Whilst this is a laudable objective, the final extent of the revisions leaves nuclear site operators and their insurers with greater uncertainty as a result of the wider and unquantifiable nature of some aspects of the revised nuclear damage definition, in particular where reference is made to environmental reinstatement and extended prescription periods. Incorporating broader definitions in the Convention revisions will therefore leave gaps in the insurance cover where insurers are unable to insure the new, wider scope of cover. If no insurance is available, then the liability for the revised scope of cover must fall upon either the operator or the national Government. This presentation will give an overview of where and why the major gaps in nuclear liability insurance cover will occur in the revised Conventions; it will also examine the problems in defining the revised scope of cover and will look at where these unquantifiable risks should now reside, to ensure there is equity between the liabilities imposed on the nuclear industry and those imposed on other industrial sectors. (author)

  8. Space tourism risks: A space insurance perspective

    Science.gov (United States)

    Bensoussan, Denis

    2010-06-01

    Space transportation is inherently risky to humans, whether they are trained astronauts or paying tourists, given that spaceflight is still in its relative infancy. However, this is easy to forget when subjected to the hype often associated with space tourism and the ventures seeking to enter that market. The development of commercial spaceflight constitutes a challenge as much as a great opportunity to the insurance industry as new risks emerge and standards, policies and procedures to minimise/mitigate and cover them still to be engineered. Therefore the creation of a viable and affordable insurance regime for future space tourists is a critical step in the development of a real space tourism market to address burning risk management issues that may otherwise ultimately hamper this nascent industry before it has a chance to prove itself.

  9. THE ROLE OF THE WORLD INSURANCE MARKET INFRASTRUCTURE

    Directory of Open Access Journals (Sweden)

    Antonina Sholoiko

    2017-09-01

    (associations of insurance experts that serve providing of insurance services – International Association of Insurance Professionals, International Actuarial Association, International Association of Average Adjusters. Value. This study has shown that all groups of elements of world insurance market infrastructure play a significant role in the development of the insurance industry because they set such tasks as: facilitate to the global stability, safety, efficiency through the collaboration with national governments and providing members of associations with information, education, consultation and other services. More research is required to consider an activity of elements of European, American, and Asian insurance market infrastructure as leading in the world.

  10. RISK CORRIDORS AND REINSURANCE IN HEALTH INSURANCE MARKETPLACES: Insurance for Insurers

    OpenAIRE

    LAYTON, TIMOTHY J.; MCGUIRE, THOMAS G.; SINAIKO, ANNA D.

    2016-01-01

    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...

  11. Approaching Environmental Cleanup Costs Liability Through Insurance Principles

    National Research Council Canada - National Science Library

    Corbin, Michael A

    1994-01-01

    .... Applying insurance industry principles to environmental cleanup costs liability will provide a firm foundation to reduce the risk of loss to the taxpayer, reduce cleanup costs, and stimulate private...

  12. Crop insurance: Risks and models of insurance

    Directory of Open Access Journals (Sweden)

    Čolović Vladimir

    2014-01-01

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

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

    Science.gov (United States)

    Hung, Hung-Chih; Hung, Jia-Yi

    2016-04-01

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

  14. Who pays the costs of industrial accidents like Three Mile Island

    International Nuclear Information System (INIS)

    Doub, W.O.; Shoemaker, J.R.

    1985-01-01

    The accident at Three Mile Island (TMI) nuclear unit 2 generating plant in Pennsylvania provides a case study on how losses resulting from large industrial accidents are allocated in society. TMI demonstrated that industry regulation, no matter how pervasive, can fail to prevent social harm, and that there are often costs beyond personal injuries and property damage. Although the Price-Anderson Act compensated the public, other insurance was inadequate to cover the losses of shareholders and ratepayers. When the $300 million property insurance proved inadequate, the industry raised property damage insurance to $1 billion and replacement power insurance to $250 million

  15. Prevalence of bile duct cancer among printing industry workers in comparison with other industries.

    Science.gov (United States)

    Okamoto, Etsuji; Kikuchi, Kiyotaka; Endo, Ginji

    2013-01-01

    The aim of this study was to assess the risk of developing bile duct cancer among workers in the other printing industry in comparison with workers in all industries in general. Prevalence of bile duct cancer was compared between workers in the printing industry and age-standardized controls in all other industries using the claims database of the Japan Health Insurance Association, which insures workers of small-medium sized employers of all industries. Young (aged 30-49) male workers in the printing industry showed an elevated but insignificant standardized prevalence rate ratio (SPRR) for bile duct cancer in comparison with workers in all other industries (SPRR: 1.78; 95%CI: 0.63-5.00). The risk was higher for intrahepatic bile duct cancer but remained insignificant (SPRR: 3.03; 95%CI: 0.52-17.56). The sharply elevated risk of bile duct cancer observed among proof-printing workers of a printing factory in Osaka may not be generalizable to workers in the printing industry nationwide.

  16. Pet insurance--essential option?

    Science.gov (United States)

    Stowe, J D

    2000-08-01

    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!

  17. Alcuni recenti orientamenti interpretativi in tema di intersection fra PI e Antitrust

    Directory of Open Access Journals (Sweden)

    Gustavo Ghidini

    2015-10-01

    Full Text Available Recent decisions of the European Court of Justice (Astrazeneca and Italian Antitrust Authority (Pfizer suggest that even the mere acquisition – as distinguished from the exercise – of a patent (as any other IPR may amount to a misuse if the achievement thereof runs in contrast with the rules governing its entitlement; and, if the patent owner enjoys a dominant position, such patent misuse may translate into an abuse of said position under art. 102 TFEU. Cases of this type must be clearly distinguished from those where the patent has been legitimately/regularly obtained, and its holder exercises the ‘institutionally excluding’ related power against unauthorized third parties. In such cases, antitrust law comes in not to enforce a properly ‘abusive’ conduct, but to correct an objective market situation which has grown ‘excessively’ foreclosing competition – and this, thanks to the very success of the patent. A situation, and a legal solution, which bears a strong analogy of rationale with the one envisaged by art. 2597 of Italian civil code. Thus, that of ‘abuse’ is a general normative tool that is used both to adjudicate anti-competitive torts (as in the first case and to regulate an objective ‘close to monopoly’ situation occurred without any wrongdoing by the patent holder.The distinction is confirmed by the consequences. On one side, as in Astrazeneca and Pfizer, the patent holders are sanctioned (and their patent or CCP is subject to annulment; no compensation whatever of the patentee is thinkable. On the other side, in the case of the regular acquisition and intrinsically legitimate exercise of the IPR competition law imposes a duty to license it on FRAND terms: i.e., with compensation of the patent holder, fully retains his entitlement. Here, self-evidently, the patent holder has behaved lawfully -otherwise a compensation would be unthinkable! The ‘abuse’ may properly occur ex post, i.e. only if the holder

  18. The German insurance industry. 1988 yearbook of the Gesamtverband der Deutschen Versicherungswirtschaft e.V

    International Nuclear Information System (INIS)

    1988-01-01

    The annual report presents among other things the figures of the nuclear insurance line. The Association of Nuclear Insurers in the F.R.G., the DKVG, counts 105 member companies in the year 1988, who offer reinsurance protection for West German nuclear power stations up to DM 1.5 billions in the property insurance sector, and up to DM 200 millions in the nuclear liability sector. The inland portfolio of the DKVG' covers 22 nuclear power stations. The expenses to satisfy claims in 1987 amounted to DM 6.5 millions. (DG) [de

  19. Insurance concerns relative to onsite storage of low level radioactive waste

    International Nuclear Information System (INIS)

    Fox, P.R.

    1995-01-01

    ANI and MAELU are voluntary associations made up of approximately 80 stock ampersand 98 mutual insurance companies who insure nuclear risks on a syndicate or pooling basis. The purpose of the pools is to provide for the insurance needs of the nuclear industry in the United States as mandated by the Congress and the NRC. ANI and MAELU provide two types of insurance policies: (1) liability policies - In general, nuclear liability policies provide protection for third party bodily injury and off-site property damage resulting from the nuclear hazard. (2) property policies - The property policies insure against radioactive contamination as the primary peril, but also provide coverage of many conventional property insurance perils. These range from boiler and machinery type losses to fire, extended coverage and vandalism to earthquake and flood coverage

  20. A survey on critical factors influencing agricultural insurance

    Directory of Open Access Journals (Sweden)

    Ali Valipour

    2013-01-01

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

  1. Engineering models for catastrophe risk and their application to insurance

    Science.gov (United States)

    Dong, Weimin

    2002-06-01

    Internationally earthquake insurance, like all other insurance (fire, auto), adopted actuarial approach in the past, which is, based on historical loss experience to determine insurance rate. Due to the fact that earthquake is a rare event with severe consequence, irrational determination of premium rate and lack of understanding scale of potential loss led to many insurance companies insolvent after Northridge earthquake in 1994. Along with recent advances in earth science, computer science and engineering, computerized loss estimation methodologies based on first principles have been developed to the point that losses from destructive earthquakes can be quantified with reasonable accuracy using scientific modeling techniques. This paper intends to introduce how engineering models can assist to quantify earthquake risk and how insurance industry can use this information to manage their risk in the United States and abroad.

  2. РOLICY OF INSURANCE PROTECTION AND STRATEGY OF ITS REFORM IN UKRAINE

    Directory of Open Access Journals (Sweden)

    A. Zaletov

    2015-04-01

    Full Text Available The article deals with the essence of the role and tasks of the insurance policy in modern conditions. Insurance is defined as a system of policy measures authorities and business entities to use the tools of insurance and financial resources of insurers in order to effectively manage risks and ensure the implementation of the goals and objectives of socio-economic development of the country (region and business entities. Allocated to the insurance policy of the state, the corporate sector, households and insurance (reinsurance companies. The economic, social and informational categories of state regulation in the insurance industry, underlined the need to reform the insurance market taking into account the influence of external and internal threats. Define the objectives and principles of the strategy of reforming the system of state regulation of the insurance market of Ukraine. Proposed priorities for the development of the insurance market on the basis of deregulation and simplification of the regulatory environment, improvement of activity control and efficiency of state supervision, protecting the interests of insurance consumers and restore confidence in the insurance market.

  3. Understanding the use of strategic intelligence as a strategic management tool in the long-term insurance industry in South Africa

    Directory of Open Access Journals (Sweden)

    René Pellissier

    2011-10-01

    The paper obtained the qualitative views and opinions of strategic decision makers, on an executive managerial level within the South African long-term insurance industry, on their organisations use of strategic intelligence. It was found that there are marked differences in the conformity and usage of strategic intelligence and its components between the organisations surveyed, with a measurable difference between large and small organisations. It is, however, generally viewed that the use of a strategic intelligence framework could greatly enhance decision-making. Data collection for the research undertaken was limited to the 82 long-term insurance companies, which were registered with the South African Financial Services Board. More specifically the focus was on the organisations listed on the Johannesburg Securities Exchange within the Life Assurance sector, within which a final response rate of 36.1% was achieved, including the 100% response rate from the six listed organisations. By understanding the extent to which strategic intelligence is utilised in the South African longterminsurance industry, and the benefits or problems that are experienced by implementing and using strategic intelligence as an input to the strategic management process we can comprehend the value that strategic intelligence adds in the decision making process. The originality of this work concludes in the identification and utilisation of the most important factors of a strategic intelligence framework that will greatly enhance global corporate decisionmakingand result in competitive advantage and constant innovation within the South African business environment.

  4. Personality Traits and Sales Effectiveness: The Life Insurance Market in Poland

    Directory of Open Access Journals (Sweden)

    Andrzej Janowski

    2018-01-01

    Full Text Available Within organizatons in industrialized countries, the quality of human resources tends to become a major issue on the path to achieving a compettve advantage. According to the author’s research, the implementaton of the fve-factor model of Costa and McCrae provides the soluton for the abovementoned problem. This artcle demonstrates the crucial utlity of the fve-factor model of Costa and McCrae in the context of life insurance industry effectveness from both the theoretcal and practcal perspectves based on a case study of the four largest life insurance companies 796 most effectve agents. Results imply the existence of a positve correlaton between the level of the selected personality traits intensites and the life insurance agent’s sales efciency. Moreover, as levels of the personality traits of “openness to experience,” “consciousness,” “agreeableness” and “neurotcism” are the predictors of life insurance company effectveness, there are fundamentals for inducton to be appropriate for the whole retail fnancial sector human resources management system.

  5. 75 FR 72850 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of...

    Science.gov (United States)

    2010-11-26

    .... FINRA has been advised by insurance industry representatives that the proposed rule change does not... Act Rule 17a-4(b)(4). FINRA has been advised by insurance industry representatives that the proposed... providers, may be impacted by bond renewal cycles and changes required by the insurance industry. FINRA will...

  6. Looking at nuclear liability and insurance in Russia

    International Nuclear Information System (INIS)

    Schwartz, J.

    1997-01-01

    A recent seminar in Moscow has addressed the issue of nuclear liability and insurance in the Russian nuclear industry since the breakup of the Soviet Union. The potential benefits of joining the international liability regime and adopting comprehensive nuclear liability legislation were discussed. The need to establish appropriate nuclear insurance structures and provide indemnity to cover the liability were also debated. Whether these changes can be put into action or not is less certain than the need for them. (UK)

  7. Deflation Risk and Implications for Life Insurers

    Directory of Open Access Journals (Sweden)

    Jean-François Bégin

    2016-12-01

    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.

  8. Finance, providers issue brief: insurer liability.

    Science.gov (United States)

    Rothouse, M; Stauffer, M

    2000-05-24

    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.

  9. 78 FR 37409 - Small Business Size Standards: Finance and Insurance and Management of Companies and Enterprises

    Science.gov (United States)

    2013-06-20

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

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

    OpenAIRE

    Verbelen, Roel

    2017-01-01

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

  11. Insurance Market Activity and Economic Growth: Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    Philip Chimobi Omoke

    2012-04-01

    Full Text Available The focus of this study is to empirically assess insurance market activities in Nigeria withthe view to determining its impact on economic growth. The period of study was 1970- 2008, thestudy made use of insurance density measures (premium per capita as a measure for insurancemarket activity and real GDP for economic growth. It also employed control variables such asinflation and savings rate as other determinants ofgrowth. The Johansen cointegration and vectorerror correction approach was used to estimate therelationship between the variables. All thevariables used were stationary at first differenceand the result showed a long term relationshipexisting among the variables. The hallmark findingof this study is that the insurance sector did notreveal any positively and significant affect on economic growth in Nigeria within the period of study.The result shows a low insurance market activity inNigeria and that Nigerians have not fully embracethe insurance industry despite its importance to the growth of theeconomy.

  12. The Key Role of Listening in Business: A Story of the Singapore Insurance Industry.

    Science.gov (United States)

    Goby, Valerie Priscilla; Lewis, Justus Helen

    2000-01-01

    Examines how listening is perceived by people in Singapore involved in insurance. Finds that all categories of respondents apart from students ranked listening as more important than writing or speaking; and all categories of respondents consider insurance agents to possess less than the desired degree of listening competence. Shows how each group…

  13. 24 CFR 266.602 - Mortgage insurance premium: Insured advances.

    Science.gov (United States)

    2010-04-01

    ... 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...

  14. Insurance issues and natural gas vehicles. Final report, January 1992

    International Nuclear Information System (INIS)

    Squadron, W.F.; Ward, C.O.; Brown, M.H.

    1992-01-01

    GRI has been funding research on natural gas vehicle (NGV) technology since 1986. To support the activity, GRI is evaluating a number of NGV issues including fuel storage, tank inspection, system safety, refueling, U.S. auto and truck use characteristics, and the fleet vehicle infrastructure. In addition, insurance and leasing companies will require new regulations and policies to address clean-fueled vehicle fleets' emergence into the marketplace. These policies may influence and partially determine the structure of the alternatively fueled vehicle industry, and the requirements, if any, imposed upon vehicle technologies. The report asseses the insurance and leasing industries' infrastructure/institutional barriers as they relate to the introduction of natural gas fueled vehicle fleets

  15. Are Integrated Plan Providers Associated With Lower Premiums on the Health Insurance Marketplaces?

    Science.gov (United States)

    La Forgia, Ambar; Maeda, Jared Lane K; Banthin, Jessica S

    2018-04-01

    As the health insurance industry becomes more consolidated, hospitals and health systems have started to enter the insurance business. Insurers are also rapidly acquiring providers. Although these "vertically" integrated plan providers are small players in the insurance market, they are becoming more numerous. The health insurance marketplaces (HIMs) offer a unique setting to study integrated plan providers relative to other insurer types because the HIMs were designed to promote competition. In this descriptive study, the authors compared the premiums of the lowest priced silver plans of integrated plan providers with other insurer types on the 2015 and 2016 HIMs. Integrated plan providers were associated with modestly lower premiums relative to most other insurer types. This study provides early insights into premium competition on the HIMs. Examining integrated plan providers as a separate insurer type has important policy implications because they are a growing segment of the marketplaces and their pricing behavior may influence future premium trends.

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

    NARCIS (Netherlands)

    W.H. van Boom (Willem)

    2010-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Schatman ME

    2015-03-01

    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.

  18. The Impact of the Macroeconomic Environment on Insurance Companies

    OpenAIRE

    Čepeláková, Lenka

    2015-01-01

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

  19. How can sensitivity analysis improve the robustness of mathematical models utilized by the re/insurance industry?

    Science.gov (United States)

    Noacco, V.; Wagener, T.; Pianosi, F.; Philp, T.

    2017-12-01

    Insurance companies provide insurance against a wide range of threats, such as natural catastrophes, nuclear incidents and terrorism. To quantify risk and support investment decisions, mathematical models are used, for example to set the premiums charged to clients that protect from financial loss, should deleterious events occur. While these models are essential tools for adequately assessing the risk attached to an insurer's portfolio, their development is costly and their value for decision-making may be limited by an incomplete understanding of uncertainty and sensitivity. Aside from the business need to understand risk and uncertainty, the insurance sector also faces regulation which requires them to test their models in such a way that uncertainties are appropriately captured and that plans are in place to assess the risks and their mitigation. The building and testing of models constitutes a high cost for insurance companies, and it is a time intensive activity. This study uses an established global sensitivity analysis toolbox (SAFE) to more efficiently capture the uncertainties and sensitivities embedded in models used by a leading re/insurance firm, with structured approaches to validate these models and test the impact of assumptions on the model predictions. It is hoped that this in turn will lead to better-informed and more robust business decisions.

  20. Efficiency and competition in the Dutch non-life insurance industry: Effects of the 2006 health care reform

    NARCIS (Netherlands)

    Bikker, Jaap; Popescu, Adelina

    This paper investigates the cost efficiency and competitive behaviour of the non-life – or property and casualty – insurance market in the Netherlands over the period 1995-2012. We focus on the 2006 health care reform, where public health care insurance has been included in the non-life insurance

  1. PARAMETRIC INSURANCE COVER FOR NATURAL CATASTROPHE RISKS

    Directory of Open Access Journals (Sweden)

    Serghei Margulescu

    2013-11-01

    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.

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

    International Nuclear Information System (INIS)

    Rowlands, D.; Devlin, R.A.

    2006-01-01

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

  3. Optimum amount of an insurance sum in life insurance

    Directory of Open Access Journals (Sweden)

    Janez Balkovec

    2001-01-01

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

  4. Insurance: new approach to long-term care

    International Nuclear Information System (INIS)

    Helsing, L.D.

    1981-01-01

    The Environmental Protection Agency (EPA) and the insurance industry may have found a way to finance the closure and post-closure care of waste-management facilities that will be less costly than a traditional trust fund. The new concept insures against a premature closing and provides funds for both closure and post-closure expenses by having the facility owner/operator pay regular premiums to provide closure funds. Liability questions do not come into play, as the policy deals exclusively with the facility's financial reliability. The program under development will attract medium and small firms. Questions about the new plan remain to be addressed during the hearing period

  5. The impact of climate change on the BRICS economies: The case of insurance demand.

    Science.gov (United States)

    Ranger, N.; Surminski, S.

    2012-04-01

    Session ERE5.1 Climate change impact on economical and industrial activities The impact of climate change on the BRICS economies: The case of insurance demand. Over the past decade, growth in the BRICS (Brazil, Russia, India, China and South Africa) economies has been a key driver of global economic growth. Current forecasts suggest that these markets will continue to be areas of significant growth for a large number of industries. We consider how climate change may influence these trends in the period to 2030, a time horizon that is long in terms of strategic planning in industry, but relatively short for climate change analysis, where the impacts are predicted to be most significant beyond around 2050. Based on current evidence, we expect climate change to affect the BRICS economies in four main ways: 1. The impact of physical climatic changes on the productivity of climate-sensitive economic activity, the local environment, human health and wellbeing, and damages from extreme weather. 2. Changing patterns of investment in climate risk management and adaptation 3. Changing patterns of investments in areas affected by greenhouse gas (GHG) mitigation policy, 4. The impacts of the above globally, including on international trade, growth, investment, policy, migration and commodity prices, and their impacts on the BRICS. We review the evidence on the impacts of climate change in the BRICS and then apply this to one particular industry sector: non-life insurance. We propose five potential pathways through which climate change could influence insurance demand: economic growth; willingness to pay for insurance; public policy and regulation; the insurability of natural catastrophe risks; and new opportunities associated with adaptation and greenhouse gas mitigation. We conclude that, with the exception of public policy and regulation, the influence of climate change on insurance demand to 2030 is likely to be small when compared with the expected growth due to rising

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

    OpenAIRE

    Liu, Kai

    2015-01-01

    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...

  7. An exploration study to detect important factors influencing insurance firms

    OpenAIRE

    Farzaneh Soleimani; Fattaneh Alizadeh Meshkani; Abdullah Naami

    2013-01-01

    The recent trend on competition among insurance firms has increased motivation to look for important factors influencing this industry. In this paper, we present an empirical investigation to find important factors shaping this industry. The proposed study designs a questionnaire in Likert scale and, using principal component analysis, detects important factors on the success of this industry. Cronbach alpha is calculated as 0.849, and Kaiser-Meyer-Olkin and Bartlett's Test are calculated as ...

  8. The Patient Protection and Affordable Care Act and the regulation of the health insurance industry.

    Science.gov (United States)

    Jha, Saurabh; Baker, Tom

    2012-12-01

    The Patient Protection and Affordable Care Act is a comprehensive and multipronged reform of the US health care system. The legislation makes incremental changes to Medicare, Medicaid, and the market for employer-sponsored health insurance. However, it makes substantial changes to the market for individual and small-group health insurance. The purpose of this article is to introduce the key regulatory reforms in the market for individual and small-group health insurance and explain how these reforms tackle adverse selection and risk classification and improve access to health care for the hitherto uninsured or underinsured population. Copyright © 2012 American College of Radiology. Published by Elsevier Inc. All rights reserved.

  9. State of emergency preparedness for US health insurance plans.

    Science.gov (United States)

    Merchant, Raina M; Finne, Kristen; Lardy, Barbara; Veselovskiy, German; Korba, Caey; Margolis, Gregg S; Lurie, Nicole

    2015-01-01

    Health insurance plans serve a critical role in public health emergencies, yet little has been published about their collective emergency preparedness practices and policies. We evaluated, on a national scale, the state of health insurance plans' emergency preparedness and policies. A survey of health insurance plans. We queried members of America's Health Insurance Plans, the national trade association representing the health insurance industry, about issues related to emergency preparedness issues: infrastructure, adaptability, connectedness, and best practices. Of 137 health insurance plans queried, 63% responded, representing 190.6 million members and 81% of US plan enrollment. All respondents had emergency plans for business continuity, and most (85%) had infrastructure for emergency teams. Some health plans also have established benchmarks for preparedness (eg, response time). Regarding adaptability, 85% had protocols to extend claim filing time and 71% could temporarily suspend prior medical authorization rules. Regarding connectedness, many plans shared their contingency plans with health officials, but often cited challenges in identifying regulatory agency contacts. Some health insurance plans had specific policies for assisting individuals dependent on durable medical equipment or home healthcare. Many plans (60%) expressed interest in sharing best practices. Health insurance plans are prioritizing emergency preparedness. We identified 6 policy modifications that health insurance plans could undertake to potentially improve healthcare system preparedness: establishing metrics and benchmarks for emergency preparedness; identifying disaster-specific policy modifications, enhancing stakeholder connectedness, considering digital strategies to enhance communication, improving support and access for special-needs individuals, and developing regular forums for knowledge exchange about emergency preparedness.

  10. Premium Forecasting of an Insurance Company: Automobile Insurance

    OpenAIRE

    Fouladvand, M. Ebrahim; Darooneh, Amir H.

    2002-01-01

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

  11. The prerequisites of development of voluntary insurance in the Altai territory

    Directory of Open Access Journals (Sweden)

    Natalya Borisovna Grishenko

    2014-06-01

    Full Text Available Questions of the insurance market development concern one of the priorities as increase the efficiency of the financial resources use of all subjects of economy. It gives the possibility to save the budgetary funds at the covering of losses from catastrophic situations, compensate the industrial and other risks to the corporations, as well as increase the responsibility of the citizens. This article is devoted to the search of the directions of voluntary insurance development in the Russian Federation and the Altai territory. On the basis of the study of the major factors having impact on processes of insurance, it is offered to define the most significant of them for the future forecasting. This study allows to reveal the different macro- and microeconomic factors, which may become growth points for the insurance market. The particular attention paid to the specifics of the insurance development at a particular region

  12. MERGER AND ACQUISITION IN THE FINANCIAL SERVICES INDUSTRY

    Directory of Open Access Journals (Sweden)

    Éva PINTÉR

    2011-01-01

    Full Text Available The paper analyses the driving forces of the convergence in the financial sector, focused on banking and insurance companies, in terms of strategic cross-sector and cross-border mergers and acquisitions (M As. New tendencies such globalization, integration, disintermediation and deregulation give the basis for new dimensions in the financial services industry. Based on the data, the banking industry has experienced an enormous level of consolidation as M As. We find that the penetration process, so the entry into insurance services industry is mostly driven by banks. We analyse whether this risky strategic process is beneficial or necessary in the financial services industry.

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

    Science.gov (United States)

    Liu, Kai

    2016-03-01

    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.

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

    Science.gov (United States)

    Tamez, S; Bodek, C; Eibenschutz, C

    1995-01-01

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

  15. Insurance Companies Adapting to Trends by Adopting Medical Tourism.

    Science.gov (United States)

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

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

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

    Science.gov (United States)

    Salim, Anas Mustafa Ahmed; Hamed, Fatima Hashim Mahmoud

    2018-01-01

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

  17. The Investment Strategy of With-Profits Life Insurance Firms

    OpenAIRE

    Jaafar, Karim Chawki

    2008-01-01

    Abstract Within the context of an increasingly fragile life insurance industry, this paper conducts a quantitative investigation on the determinants of investment strategy within with profit life assurers in the UK, a dominant segment within the global industry. Examining a range of possible defining characteristics on investment strategy of such firms including size, financial strength (solvency), proprietary/mutual status, open/closed status and the level of guaranteed liabilities, th...

  18. Why not private health insurance? 2. Actuarial principles meet provider dreams.

    Science.gov (United States)

    Deber, R; Gildiner, A; Baranek, P

    1999-09-07

    What do insurers and employers feel about proposals to expand Canadian health care financing through private insurance, in either a parallel stream or a supplementary tier? The authors conducted 10 semistructured, open-ended interviews in the autumn and early winter of 1996 with representatives of the insurance industry and benefits managers working with large employers; respondents were identified using a snowball sampling technique. The respondents felt that proposals for parallel private plans within a competitive market are incompatible with insurance principles, as long as a well-functioning and relatively comprehensive public system continues to exist; the maintenance of a strong public system was both socially and economically desirable. With the exception of serving the niche market for the private management of return-to-work strategies, respondents showed little interest in providing parallel coverage. They were receptive to a larger role for supplementary insurance but cautioned that they are not willing to cover all delisted services. As business executives they stated that they are willing to insure only services and clients that will be profitable.

  19. Risk classification and cream skimming on the deregulated German insurance market

    OpenAIRE

    Beschorner, Patrick F. E.

    2003-01-01

    In a two-stage model insurance companies first decide upon risk classification and then compete in prices. I show that the observed heterogeneous behavior of similar firms is compatible with rational behavior. On the deregulated German insurance market individual application of classification schemes induces welfare losses due to cream skimming. Classification costs and pricing above marginal cost can be prevented by common industry-wide loss statistics which already exist to a rudimentary ex...

  20. Insurance: Profitability of the Medical Malpractice and General Liability Lines. Report to Congressional Requesters.

    Science.gov (United States)

    General Accounting Office, Washington, DC.

    This report on the profitability of the property/casualty insurance industry and in particular of the medical malpractice insurance line was prepared at the request of Representatives Henry A. Waxman and James J. Florio and Senators Paul Simon, Daniel K. Inouye, Albert Gore, Jr., and Jay D. Rockefeller. Four different estimates of medical…

  1. The unending deposit insurance mess.

    Science.gov (United States)

    Kane, E J

    1989-10-27

    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.

  2. 24 CFR 266.600 - Mortgage insurance premium: Insurance upon completion.

    Science.gov (United States)

    2010-04-01

    ... 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...

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

    Science.gov (United States)

    Zhang, Hongliang; Qiu, Aichao

    2017-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Huicong Li

    2017-10-01

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

  5. Сryptocurrency as an object of economic analysis in insurance companies

    Directory of Open Access Journals (Sweden)

    O.O. Poplavskiy

    2016-12-01

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

  6. Diverting indirect subsidies from the nuclear industry to the photovoltaic industry: Energy and financial returns

    International Nuclear Information System (INIS)

    Zelenika-Zovko, I.; Pearce, J.M.

    2011-01-01

    Nuclear power and solar photovoltaic energy conversion often compete for policy support that governs economic viability. This paper compares current subsidization of the nuclear industry with providing equivalent support to manufacturing photovoltaic modules. Current U.S. indirect nuclear insurance subsidies are reviewed and the power, energy and financial outcomes of this indirect subsidy are compared to equivalent amounts for indirect subsidies (loan guarantees) for photovoltaic manufacturing using a model that holds economic values constant for clarity. The preliminary analysis indicates that if only this one relatively ignored indirect subsidy for nuclear power was diverted to photovoltaic manufacturing, it would result in more installed power and more energy produced by mid-century. By 2110 cumulative electricity output of solar would provide an additional 48,600 TWh over nuclear worth $5.3 trillion. The results clearly show that not only does the indirect insurance liability subsidy play a significant factor for nuclear industry, but also how the transfer of such an indirect subsidy from the nuclear to photovoltaic industry would result in more energy over the life cycle of the technologies. - Highlights: → The indirect insurance liability subsidy has been quantified over the life cycle of the U.S. nuclear fleet. → It was found to play a significant factor in the economics of the nuclear industry. → A transfer of such an indirect subsidy from the nuclear to photovoltaic industry would result in significantly more energy over the life cycle of the technologies.

  7. 76 FR 28129 - Federal Advisory Committee on Insurance

    Science.gov (United States)

    2011-05-13

    ... insurance industry or the U.S. financial system. --The Director also plays a role in authorizing the... allowing the FACI to carry out its role. Members will be selected by the Department from persons with... possess relevant expertise and/or who are familiar with or representative of affected constituencies...

  8. Editorial National Health insurance (NHi): time for reflections!

    African Journals Online (AJOL)

    health industry acting as insurance brokers and broker organisations and these make private health care cost expensive and has made it unaffordable unless innovative policies are instituted to curtail this trend. With South Africa's estimated population of fifty-two million, the private health sector provides health care to ...

  9. Risk Management and Nuclear Insurance Program within Societatea Nationala Nuclearelectrica S.A

    International Nuclear Information System (INIS)

    Havris, Alexandru

    2008-01-01

    This paper shall present the Risk Management and associated nuclear insurance program developed within Societatea Nationala 'Nuclearelectrica' S.A, owner and operator of Units 1 and 2 Cernavoda NPP, the Nuclear Fuel Plant and in charge with commissioning of Units 3 and 4. From the risk management perspective, the main aspects that energy industry has to face due to global economic changes within a dynamic business environment are highlighted. In order to mitigate the operational and investment associated risks, Societatea Nationala 'Nuclearelectrica' S.A. successfully developed, implemented and maintained a coherent insurance program both on local and international insurance market. (authors)

  10. Enforcement of mandatory third party access based on antitrust law; Zwangsdurchleitung mittels Kartellrecht

    Energy Technology Data Exchange (ETDEWEB)

    Markert, K. [Bundeskartellamt, Berlin (Germany). 8. Beschlussabteilung

    1998-04-01

    Access of third parties to power transmission systems which up to now is governed in Germany by ownership rights will not run smoothly in future, although the general policy decision ended the dispute about the if, however leaving open aspects of the how. The problems arising in designing the how are currently displayed to the public by the disputes about conditions and model solutions reported from the telecommunications area, where deregulation is ahead of the developments in the energy sector. Obviously, the contention point is not technical feasibility of third party access, but the economic aspects and the conditions offered to competing suppliers depending on access to a transmission network. Hence it can be expected that there will be conflicts of interest that will have to be decided. The legal basis for conflict management is outlined in the recent amendment to the EnWG (German energy industry act), and jurisdiction will primarily rely on paragraph 6 of the act, referring to antitrust review. The contribution here gives an outline of the legal framework conditions governing enforcement of third party access to transmission systems in the future deregulated energy market. (orig./CB) [Deutsch] Die Oeffnung bisher geschlossener Netze fuer Drittwettbewerber verlaeuft auch dann, wenn ueber das `Ob` kein Streit mehr besteht, nicht konfliktfrei. Dies wird zur Zeit dem deutschen Publikum im Bereich der Telekommunikation mit fast taeglich neuen Varianten vorgefuehrt. Es geht dabei offensichtlich nicht um die technische Machbarkeit der Drittnutzung, sondern um die wirtschaftlichen Konditionen fuer Konkurrenten, die fuer ihr Leistungsangebot auf den Zugang zum Netz angewiesen sind. Konflikte ueber die Bedingungen dieses Zugangs sind daher vorprogrammiert, und es stellt sich die Frage, nach welchen Regeln und durch welche Gremien oder Institutionen solche Konflikte entschieden werden sollen. Der Beitrag umreisst die rechtlichen Rahmenbedingungen, die im neuen En

  11. Ranking insurance firms using AHP and Factor Analysis

    Directory of Open Access Journals (Sweden)

    Mohammad Khodaei Valahzaghard

    2013-03-01

    Full Text Available Insurance industry includes a significant part of economy and it is important to learn more about the capabilities of different firms, which are active in this industry. In this paper, we present an empirical study to rank the insurance firms using analytical hierarchy process as well as factor analysis. The study considers four criteria including capital adequacy, quality of earning, quality of cash flow and quality of firms’ assets. The results of the implementation of factor analysis (FA have been verified using Kaiser-Meyer-Olkin (KMO=0.573 and Bartlett's Chi-Square (443.267 P-value=0.000 tests. According to the results FA, the first important factor, capital adequacy, represents 21.557% of total variance, the second factor, quality of income, represents 20.958% of total variance. In addition, the third factor, quality of cash flow, represents 19.417% of total variance and the last factor, quality of assets, represents 18.641% of total variance. The study has also used analytical hierarchy process (AHP to rank insurance firms. The results of our survey indicate that capital adequacy (0.559 is accounted as the most important factor followed by quality of income (0.235, quality of cash flow (0.144 and quality of assets (0.061. The results of AHP are consistent with the results of FA, which somewhat validates the overall study.

  12. Financial Services Industry

    National Research Council Canada - National Science Library

    Arezo, Gullab; Billingslea, Willie D; Brooks, James V; Brown, Jeffery D; Cotton, Cheryl; Determan, Deborah A; Dzurenko, Monte S; Egentowich, John; Greenwald, Michael N; Keegan, Matthew

    2006-01-01

    .... The financial services industry impacts the daily lives of all Americans. They rely on it to save for their retirement and their children's education, pay their bills, insure against risks, and buy their homes and automobiles...

  13. The efficiency of life insurance and family Takaful in Malaysia: Relative efficiency using the stochastic cost frontier analysis

    Science.gov (United States)

    Baharin, Roziana; Isa, Zaidi

    2013-04-01

    This paper focuses on the Stochastic cost Frontier Analysis (SFA) approach, in an attempt to measure the relationship between efficiency and organizational structure for Takaful and insurance operators in Malaysia's dual financial system. This study applied a flexible cost functional form i.e., Fourier Flexible Functional Form, for a sample consisting of 19 firms, chosen between 2002 and 2010, by employing the Battese and Coelli invariant efficiency model. The findings show that on average, there is a significant difference in cost efficiency between the Takaful industry and the insurance industry. It was found that Takaful has lower cost efficiency than conventional insurance, which shows that the organization form has an influence on efficiency. Overall, it was observed that the level of efficiency scores for both life insurance and family Takaful do not vary across time.

  14. The prerequisites of development of voluntary insurance in the Altai territory

    OpenAIRE

    Natalya Borisovna Grishenko; Natalya Olegovna Derkach

    2014-01-01

    Questions of the insurance market development concern one of the priorities as increase the efficiency of the financial resources use of all subjects of economy. It gives the possibility to save the budgetary funds at the covering of losses from catastrophic situations, compensate the industrial and other risks to the corporations, as well as increase the responsibility of the citizens. This article is devoted to the search of the directions of voluntary insurance development in the ...

  15. Disease spread models to estimate highly uncertain emerging diseases losses for animal agriculture insurance policies: an application to the U.S. farm-raised catfish industry.

    Science.gov (United States)

    Zagmutt, Francisco J; Sempier, Stephen H; Hanson, Terril R

    2013-10-01

    Emerging diseases (ED) can have devastating effects on agriculture. Consequently, agricultural insurance for ED can develop if basic insurability criteria are met, including the capability to estimate the severity of ED outbreaks with associated uncertainty. The U.S. farm-raised channel catfish (Ictalurus punctatus) industry was used to evaluate the feasibility of using a disease spread simulation modeling framework to estimate the potential losses from new ED for agricultural insurance purposes. Two stochastic models were used to simulate the spread of ED between and within channel catfish ponds in Mississippi (MS) under high, medium, and low disease impact scenarios. The mean (95% prediction interval (PI)) proportion of ponds infected within disease-impacted farms was 7.6% (3.8%, 22.8%), 24.5% (3.8%, 72.0%), and 45.6% (4.0%, 92.3%), and the mean (95% PI) proportion of fish mortalities in ponds affected by the disease was 9.8% (1.4%, 26.7%), 49.2% (4.7%, 60.7%), and 88.3% (85.9%, 90.5%) for the low, medium, and high impact scenarios, respectively. The farm-level mortality losses from an ED were up to 40.3% of the total farm inventory and can be used for insurance premium rate development. Disease spread modeling provides a systematic way to organize the current knowledge on the ED perils and, ultimately, use this information to help develop actuarially sound agricultural insurance policies and premiums. However, the estimates obtained will include a large amount of uncertainty driven by the stochastic nature of disease outbreaks, by the uncertainty in the frequency of future ED occurrences, and by the often sparse data available from past outbreaks. © 2013 Society for Risk Analysis.

  16. Basic Principles of Financial Planning in Ex-ante Deposit Insurance Schemes

    Directory of Open Access Journals (Sweden)

    Đurđica Ognjenović

    2006-12-01

    Full Text Available The paper explores main principles of financial planning in ex-ante deposit insurance schemes from a theoretical perspective and in terms of the EU Directive on deposit- guarantee schemes. Further on, the paper assesses how these principles and standards are used in financial planning in deposit insurance schemes around the world for annual budgeting, strategic planning and optimalization of available financial resources. After reviewing available references and different practices, the conclusion is that there are no clear internationally accepted principles for deposit insurers’ financial planning, except some broad and general guidelines. Practices in the industry differ significantly. Given the fact that deposit insurance is in fact a monopolistic business, lack of clear principles and lack of proper financial planning may lead to inadequacy of ex-ante funds and negligence on the side of the management of deposit insurance schemes.

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

    DEFF Research Database (Denmark)

    Angkinand, Apanard; Wihlborg, Clas

    2005-01-01

    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...

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

    Science.gov (United States)

    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.

  19. Insurance of operators liability: the reality principle

    International Nuclear Information System (INIS)

    Allegre, J.

    2000-01-01

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

  20. Nuclear insurance

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

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

  1. Life Insurance Take-Up Rate Influencing Factors Comparison between Malaysia and Japan

    Directory of Open Access Journals (Sweden)

    Silvana Kardinar Wijayanti

    2016-08-01

    Full Text Available This study will investigate the factors that influence take-up rates within the Malaysian Life Insurance industry to discover potential opportunities and limitations. For comparative purposes, the study is modelled on Power (2013 who examined four factors affecting customer satisfaction in life insurance in Japan (product, price, customer services and procedures and documentation. This study is exploratory in nature using both secondary research and primary data from questionnaires. The main finding was “Product offerings” being the most significant variation, both an opportunity and limitation, due to the relative maturity, experience and changing trends within the insurance market of Japan, conversely growth, infancy and different dynamics in Malaysia.

  2. Risk Management and Nuclear Insurance Program within Societatea Nationala Nuclearelectrica S.A

    Energy Technology Data Exchange (ETDEWEB)

    Havris, Alexandru [Societatea Nationala Nuclearelectrica S.A, 65 Polona Street, code 010494, sector 1, Bucharest (Romania)

    2008-07-01

    This paper shall present the Risk Management and associated nuclear insurance program developed within Societatea Nationala 'Nuclearelectrica' S.A, owner and operator of Units 1 and 2 Cernavoda NPP, the Nuclear Fuel Plant and in charge with commissioning of Units 3 and 4. From the risk management perspective, the main aspects that energy industry has to face due to global economic changes within a dynamic business environment are highlighted. In order to mitigate the operational and investment associated risks, Societatea Nationala 'Nuclearelectrica' S.A. successfully developed, implemented and maintained a coherent insurance program both on local and international insurance market. (authors)

  3. The Capitalisation of ‘Excess Life’ through Life Insurance

    NARCIS (Netherlands)

    Lobo-Guerrero, Luis

    2014-01-01

    The role of life insurance, as portrayed by the industry, is to get individuals and heirs back in financial circulation after accidents and catastrophic events. This role, however, is not innocent. It involves a complex problematisation of what it means to render life as valuable, commodifiable and

  4. Industrial tissue: perennialization of suppliers

    International Nuclear Information System (INIS)

    Pin, M.; Hutin, J.P.; Tetreau, F.

    1996-01-01

    The durability of industrial tissue is a necessary condition, and certainly the most important, for the performance of actual park and the successful of its renewal. Reciprocally, the maintenance and the evolution of the actual park, the preparation of its renewal, are sources of activities to insure this durability of industrial and favour their international development. In the period of reduced activity, which began for the nuclear market, the dialogue which has always existed between EDF and its suppliers must be reinforced, in the respect of their respective responsibility, to insure: a right reciprocal understanding of activities and strategies, a right adaptation to these activities, and finally, the maintenance of the competitiveness. (N.C.)

  5. Flood risk and insurance loss potential in the Thames Gateway

    Science.gov (United States)

    Eldridge, J.; Horn, D.

    2009-04-01

    The Thames Gateway, currently Europe's largest regeneration project, is an area of redevelopment located in the South East of England, with Government plans to create up to 160,000 new homes and 180,000 new jobs by 2016. Although the new development is intended to contribute £12bn annually to the economy, the potential flood risk is high, with much of the area situated on Thames tidal floodplain and vulnerable to both storm surges and peak river flows. This poses significant hazard to those inhabiting the area and has raised concern amongst the UK insurance industry, who would be liable for significant financial claims if a large flood event were to occur, particularly with respect to the number of new homes and businesses being built in flood risk areas. Flood risk and the potential damage to both lives and assets in vulnerable areas have gained substantial recognition, in light of recent flooding events, from both governmental agencies and in the public's awareness of flood hazard. This has resulted in a change in UK policy with planning policy for flood risk (PPS25, Planning Policy Statement 25) adopting a more strategic approach to development, as well as a new Flooding and Water Bill which is due for consultation in 2009. The Government and the Association of British Insurers, who represent the UK insurance industry, have also recently changed their Statement of Principles which guides provision of flood insurance in the future. This PhD research project aims to quantify flood risk in the Thames Gateway area with a view to evaluating the insurance loss potential under different insurance and planning scenarios. Using current sources of inundation extent, and incorporating varying insurance penetration rates and degrees of adoption of planning policy and guidance, it focuses on estimating flood risk under these different scenarios. This presentation introduces the development of the project and the theory and methodology which will be used to address the

  6. Public Health Policy in Support of Insurance Coverage for Smoking Cessation Treatments.

    Science.gov (United States)

    Schwartz, Robert; Haji, Farzana; Babayan, Alexey; Longo, Christopher; Ferrence, Roberta

    2017-05-01

    Insurance coverage for evidence-based smoking cessation treatments (SCTs) promotes uptake and reduces smoking rates. Published studies in this area are based in the US where employers are the primary source of health insurance. In Ontario, Canada, publicly funded healthcare does not cover SCTs, but it can be supplemented with employer-sponsored benefit plans. This study explores factors affecting the inclusion/exclusion of smoking cessation (SC) benefits. In total, 17 interviews were conducted with eight employers (auto, retail, banking, municipal and university industries), four health insurers, two government representatives and three advisors/consultants. Overall, SCT coverage varied among industries; it was inconsistently restrictive and SCT differed by coverage amount and length of use. Barriers impeding coverage included the lack of the following: Canadian-specific return on investment (ROI), SC cost information, employer demand, government regulations/incentives and employee awareness of and demand. A Canadian evidence-based calculation of ROI for SC coupled with government incentives and public education may be needed to promote uptake of SCT coverage by employers. Copyright © 2017 Longwoods Publishing.

  7. Voluntary health insurance in the European Union: a critical assessment.

    Science.gov (United States)

    Mossialos, Elias; Thomson, Sarah M S

    2002-01-01

    The authors examine the role and nature of the market for voluntary health insurance in the European Union and review the impact of public policy, at both the national and E.U. levels, on the development of this market in recent years. The conceptual framework, based on a model of industrial analysis, allows a wide range of policy questions regarding market structure, conduct, and performance. By analyzing these three aspects of the market for voluntary health insurance, the authors are also able to raise questions about the equity and efficiency of voluntary health insurance as a means of funding health care in the European Union. The analysis suggests that the market for voluntary health insurance in the European Union suffers from significant information failures that seriously limit its potential for competition or efficiency and also reduce equity. Substantial deregulation of the E.U. market for voluntary health insurance has stripped regulatory bodies of their power to protect consumers and poses interesting challenges for national regulators, particularly if the market is to expand in the future. In a deregulated environment, it is questionable whether this method of funding health care will encourage a more efficient and equitable allocation of resources.

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

    OpenAIRE

    Azarnoush Ansari; Arash Riasi

    2016-01-01

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

  9. The Role of Rhetorical Strategies On The Pr ocess Of Institutionalization: A Qualitative Analysis Of Insurance Industry In Turkey

    Directory of Open Access Journals (Sweden)

    Mustafa Gökoğlu

    2015-09-01

    Full Text Available The purpose of this study is to examine the role and effectiveness of rhetorical strategies in the process of institutionalization. Rhetorical strategies present continuity with regard to institutionalization of certain social phenomena in society and are classified as Pathos, Logos and Ethos (Aristotle 1991. When considered from this point of view, institutional actors representing the important sections of the society produce effective texts through the discourse they use and ensuredissemination of the ideas regarding social phenomena they defend. In the study, insurance industry was taken into the scope of research to present in company with which rhetorical strategies institutionalization takes place. In accordance with the idea t hat different strategies might be dominant in different contexts, the findings put forth as a result of Pathos, Ethos and Logos strategies.

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

    OpenAIRE

    Li, Yiting; Miranda, Mario J.

    2015-01-01

    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...

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

    OpenAIRE

    Nicole Maestas; Kathleen J. Mullen; Alexander Strand

    2014-01-01

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

  12. Risk and approaches to insurance in the context of the UNFCCC

    International Nuclear Information System (INIS)

    Havris, A.; Chirica, T.

    2004-01-01

    A variety of public and private insurance tools may be used to transfer risk resulting from extreme weather events associated with climate change. This paper will consider how combinations of risk transfer and collective loss-sharing tools are used both in and through existing international civil liability and compensation regimes, to address transboundary environmental harm from ultra-hazardous, hazardous and dangerous activities. The most prominent of these regimes have developed in connection with risks from nuclear damage, oil spills, transportation of dangerous and hazardous goods, and the pollution of watercourses through industrial accidents. Then, the paper will introduce how insurance tools are used within these existing regimes to transfer and share risk and losses and present the tiered compensation systems currently used in these regimes to redistribute risk. This is done to allow consideration of how similar concepts might be used to address transboundary damage resulting from climate change. Finally, the nuclear third party liability regime in Romania shall be described and the way Societatea Nationala 'Nuclearelectrica' S.A. - the key player and promoter of Romanian nuclear industry development - developed and placed a nuclear insurance program. (author)

  13. Probabilistic Insurance

    NARCIS (Netherlands)

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

    1997-01-01

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

  14. Probabilistic Insurance

    NARCIS (Netherlands)

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

    1997-01-01

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

  15. Health Insurance Basics

    Science.gov (United States)

    ... 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 ...

  16. Estratégia profissional e mimetismo empresarial: os planos de saúde odontológicos no Brasil Professional strategy and institutional isomorphism: the dental health insurance industry in Brazil

    Directory of Open Access Journals (Sweden)

    Cristine Vieira

    2008-10-01

    Full Text Available O artigo analisa o modelo organizacional das empresas de planos de saúde odontológicos das modalidades de cooperativas de profissionais e a odontologia de grupo para compreender a dinâmica da oferta de serviços odontológicos no país. Adotou-se como referência a formulação institucionalista de Di Maggio e Powell. O mercado de planos de saúde odontológico é pulverizado, com o predomínio de empresas de pequeno porte, e apresenta um grande dinamismo, que favorece as empresas de pequeno, médio e alto porte. As modalidades analisadas concentram a maior proporção de beneficiários e receitas. A análise geral do desempenho do setor revela impressionante dinamismo na captação de clientes, mesmo após a criação da ANS. O regime de regulação tem imposto um novo padrão institucional à entrada, permanência e saída das empresas no mercado, que não afeta o desempenho setorial. Os dados analisados evidenciam que o setor de planos de saúde odontológicos é altamente rentável, apresentando uma grande capacidade na geração de receitas que explica o crescimento e a permanência destas modalidades no mercado. Os padrões de rentabilidade média, principalmente das empresas de odontologia de grupo, são extremamente elevados, ficando muito acima de qualquer atividade empresarial do Brasil.This article analyzes the organizational model of the dental health industry. The main organizational leaders in this industry are the professional cooperatives and group dental insurance companies. The theoretical basis of the article is the organizational theory developed by Di Maggio and Powell. The dental health industry consists of a great number of small and very dynamic companies, however an expressive part of clients and profit are concentrated in a few large companies. The results show that the industry has expanded the number of clients after the creation of the National Health Insurance Agency. The regulation regime has forced

  17. Finance issue brief: insurer liability: year end report-2003.

    Science.gov (United States)

    MacEachern, Lillian

    2003-12-31

    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.

  18. Finance issue brief: insurer liability: year end report-2002.

    Science.gov (United States)

    Morgan, Rachel; MacEachern, Lillian

    2002-12-31

    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.

  19. [The regulatory regime and the health insurance industry in Brazil].

    Science.gov (United States)

    Costa, Nilson do Rosário

    2008-01-01

    This paper analyzes the regulatory regime for health insurance and prepayment schemes in Brazil. It describes the ideas that have influenced the creation of the Agência Nacional de Saúde Suplementar-ANS (National Agency of Supplementary Health) in 2000, showing that the independent agency model was a direct result of the privatization process and of the induction of new competition mechanisms in a natural state monopoly. The paper concludes that the prepayment firms in Brazil are facing a new institutional environment as refers to their market entry or exit conditions.

  20. Federal Deposit Insurance Corporation (FDIC) Insured Banks

    Data.gov (United States)

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

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

    Science.gov (United States)

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

    2011-12-01

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

  2. Insurance as an adaptation strategy for extreme weather events indeveloping countries and economies in transition

    Energy Technology Data Exchange (ETDEWEB)

    Mills, Evan

    2004-06-30

    The insurance industry can play a material role indecreasing the vulnerability of developing countries and economies intransition to weather-related natural disasters while simultaneouslysupporting both its own market-based objectives and the objectives ofsustainable development. Although insurance is not a "silver bullet" forthe problems posed by natural disasters in emerging markets,public-private partnerships can enhance insurance's ability to spread therisks and manage the costs of weather-related disasters as well as toincrease the pool of people who have access to coverage. (For simplicityin this report, the phrase "emerging markets" is intended to encompassdeveloping countries and economies in transition.) Promising strategiesfor emerging markets involve establishing innovative products and systemsfor delivering insurance and using technologies and practices that bothreduce vulnerability to disaster-related insurance losses and supportsustainable development (including reducing greenhouse gas emissions).These strategies can enhance sustainable development efforts and increasethe insurability of risks, making insurance markets in emerging marketsmore viable. Emerging markets are especially vulnerable to extremeweather events, which impede development by causing physical damage,compromising human and ecosystem health, diverting scarce resources todisaster relief and recovery, and deterring future investment andinsurance availability by amplifying the risks faced by foreigninterests. An average of 300 million people are affected or killed eachyear by weather-related disasters in emerging markets. Characteristics ofemerging markets contributing to their particular vulnerability incontrast to developed nations include: greater frequency of poverty;weaker lifelines (transportation, communication, utilities, emergencyresponse, and hospitals); poorer quality of construction and absence ofor deficiencies in building codes and other regulations; and

  3. 75 FR 15603 - Common Crop Insurance Regulations; Florida Avocado Crop Insurance Provisions

    Science.gov (United States)

    2010-03-30

    ... 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...

  4. Should Australia Ban the Use of Genetic Test Results in Life Insurance?

    Science.gov (United States)

    Tiller, Jane; Otlowski, Margaret; Lacaze, Paul

    2017-01-01

    Under current Australian regulation, life insurance companies can require applicants to disclose all genetic test results, including results from research or direct-to-consumer tests. Life insurers can then use this genetic information in underwriting and policy decisions for mutually rated products, including life, permanent disability, and total income protection insurance. Over the past decade, many countries have implemented moratoria or legislative bans on the use of genetic information by life insurers. The Australian government, by contrast, has not reviewed regulation since 2005 when it failed to ensure implementation of recommendations made by the Australian Law Reform Commission. In that time, the Australian life insurance industry has been left to self-regulate its use of genetic information. As a result, insurance fears in Australia now are leading to deterred uptake of genetic testing by at-risk individuals and deterred participation in medical research, both of which have been documented. As the potential for genomic medicine grows, public trust and engagement are critical for successful implementation. Concerns around life insurance may become a barrier to the development of genomic health care, research, and public health initiatives in Australia, and the issue should be publicly addressed. We argue a moratorium on the use of genetic information by life insurers should be enacted while appropriate longer term policy is determined and implemented.

  5. Should Australia Ban the Use of Genetic Test Results in Life Insurance?

    Directory of Open Access Journals (Sweden)

    Jane Tiller

    2017-12-01

    Full Text Available Under current Australian regulation, life insurance companies can require applicants to disclose all genetic test results, including results from research or direct-to-consumer tests. Life insurers can then use this genetic information in underwriting and policy decisions for mutually rated products, including life, permanent disability, and total income protection insurance. Over the past decade, many countries have implemented moratoria or legislative bans on the use of genetic information by life insurers. The Australian government, by contrast, has not reviewed regulation since 2005 when it failed to ensure implementation of recommendations made by the Australian Law Reform Commission. In that time, the Australian life insurance industry has been left to self-regulate its use of genetic information. As a result, insurance fears in Australia now are leading to deterred uptake of genetic testing by at-risk individuals and deterred participation in medical research, both of which have been documented. As the potential for genomic medicine grows, public trust and engagement are critical for successful implementation. Concerns around life insurance may become a barrier to the development of genomic health care, research, and public health initiatives in Australia, and the issue should be publicly addressed. We argue a moratorium on the use of genetic information by life insurers should be enacted while appropriate longer term policy is determined and implemented.

  6. Sources of New Life Insurance Product Ideas in LIC of India

    Directory of Open Access Journals (Sweden)

    Furquan Uddin

    2018-06-01

    Full Text Available The present complex nature of market has created sturdy challenges before the business world in the form of designing right product, right price, right placement and right promotion. In order to survive and thrive, a marketer has to focus on these challenges. Amongst, right product is most crucial which requires good and feasible ideas in all industries including life insurance. In fact, life insurance is perceived as an unsought and complicated financial product in India. The present paper is a humble attempt to examine the sources of new life insurance product ideas in LIC of India. The findings of the present study include the sources into six groups such as key stakeholders, workforce, organizational documents and other sources, research unit, competitors, and national and international source. It may be noticed the key stakeholders like Insurance Regulatory and Development Authority of India, actuary, top management, and policyholders play vital role in providing ideas in the new product development process of LIC of India.

  7. Road safety and trade and industry.

    OpenAIRE

    2014-01-01

    Trade and industry mostly experience the negative consequences of crashes, but sometimes the consequences are positive. The negative consequences of road traffic crashes include loss of personnel and damage to vehicles. Some other industries, such as damage repair companies, on the other hand, derive income from road crashes. Trade and industry can also be of importance for road safety. Particularly the transport sector, the car industry and insurers take several initiatives which for example...

  8. Development of a Streamlined Work Flow for Handling Patients' Genetic Testing Insurance Authorizations.

    Science.gov (United States)

    Uhlmann, Wendy R; Schwalm, Katie; Raymond, Victoria M

    2017-08-01

    Obtaining genetic testing insurance authorizations for patients is a complex, time-involved process often requiring genetic counselor (GC) and physician involvement. In an effort to mitigate this complexity and meet the increasing number of genetic testing insurance authorization requests, GCs formed a novel partnership with an industrial engineer (IE) and a patient services associate (PSA) to develop a streamlined work flow. Eight genetics clinics and five specialty clinics at the University of Michigan were surveyed to obtain benchmarking data. Tasks needed for genetic testing insurance authorization were outlined and time-saving work flow changes were introduced including 1) creation of an Excel password-protected shared database between GCs and PSAs, used for initiating insurance authorization requests, tracking and follow-up 2) instituting the PSAs sending GCs a pre-clinic email noting each patients' genetic testing insurance coverage 3) inclusion of test medical necessity documentation in the clinic visit summary note instead of writing a separate insurance letter and 4) PSAs development of a manual with insurance providers and genetic testing laboratories information. These work flow changes made it more efficient to request and track genetic testing insurance authorizations for patients, enhanced GCs and PSAs communication, and reduced tasks done by clinicians.

  9. Pricing of drugs with heterogeneous health insurance coverage.

    Science.gov (United States)

    Ferrara, Ida; Missios, Paul

    2012-03-01

    In this paper, we examine the role of insurance coverage in explaining the generic competition paradox in a two-stage game involving a single producer of brand-name drugs and n quantity-competing producers of generic drugs. Independently of brand loyalty, which some studies rely upon to explain the paradox, we show that heterogeneity in insurance coverage may result in higher prices of brand-name drugs following generic entry. With market segmentation based on insurance coverage present in both the pre- and post-entry stages, the paradox can arise when the two types of drugs are highly substitutable and the market is quite profitable but does not have to arise when the two types of drugs are highly differentiated. However, with market segmentation occurring only after generic entry, the paradox can arise when the two types of drugs are weakly substitutable, provided, however, that the industry is not very profitable. In both cases, that is, when market segmentation is present in the pre-entry stage and when it is not, the paradox becomes more likely to arise as the market expands and/or insurance companies decrease deductibles applied on the purchase of generic drugs. Copyright © 2012 Elsevier B.V. All rights reserved.

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

    Directory of Open Access Journals (Sweden)

    Hana Sri Juni Kartika

    2014-03-01

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

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

    Science.gov (United States)

    2011-11-17

    ...-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. 17 CFR 229.801 - Securities Act industry guides.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Securities Act industry guides... AND CONSERVATION ACT OF 1975-REGULATION S-K List of Industry Guides § 229.801 Securities Act industry... claims and claim adjustment expenses of property-casualty insurance underwriters. (g) Guide 7...

  13. Chinese insurance agents in ?bad barrels?: a multilevel analysis of the relationship between ethical leadership, ethical climate and business ethical sensitivity

    OpenAIRE

    Zhang, Na; Zhang, Jian

    2016-01-01

    Background The moral hazards and poor public image of the insurance industry, arising from insurance agents? unethical behavior, affect both the normal operation of an insurance company and decrease applicants? confidence in the company. Contrarily, these scandals may demonstrate that the organizations were ?bad barrels? in which insurance agents? unethical decisions were supported or encouraged by the organization?s leadership or climate. Objective The present study brings two organization-l...

  14. CHALLENGES AND OPPORTUNITIES TH E INSURANCE INDU STRY FACING WITH IN RELATION TO CLIMATE CHANGE

    Directory of Open Access Journals (Sweden)

    Fekete Mária FARKASNÉ

    2010-07-01

    Full Text Available Apart from the financial risk the insurance industry are facing with in association with climate change, there are also opportun ities to the sector to develop new markets and provide coverage against weather related risks. This study presents a possible method to examine the potential for introducing a new insurance product, namely an agricultural flood insurance scheme in the United Kingdom. The investigation included the calculation of agricultural flood damage costs, the possible changes in flood risk, the description of farmers’ risk attitude and interests in insurance. In a small scale survey, farmers were asked their experiences related to flooding, farm management practices and thei r willingness to pay for flood insurance using a contingent valuation method. Using statistical analysis it was found the insurance demand is positively correlated with the damage cost predicted and association is likely between farm types and WTP for insurance. Linear regression model suggests that the demand for flood insurance is low amongst farmers in the present risk level. The findi ngs of this research highlight that there is little evidence for the viability of a farmer financed agricultural flood insurance scheme at the moment in the United Kingdom.

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

    OpenAIRE

    Wen-Yen Hsu; Pongpitch Petchsakulwong

    2010-01-01

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

  16. The methanol industry's missed opportunities

    International Nuclear Information System (INIS)

    Stokes, C.A.

    1995-01-01

    Throughout its history the methanol industry has been backward in research and development and in industry cooperation on public image and regulatory matters. It has been extremely reticent as to the virtue of its product for new uses, especially for motor fuel. While this is perhaps understandable looking back, it is inexcusable looking forward. The industry needs to cooperate on a worldwide basis in research and market development, on the one hand, and in image-building and political influence, on the other, staying, of course, within the US and European and other regional antitrust regulations. Unless the industry develops the motor fuel market, and especially the exciting new approach through fuel cell operated EVs, to siphon off incremental capacity and keep plants running at 90% or more of capacity, it will continue to live in a price roller-coaster climate. A few low-cost producers will do reasonably well and the rest will just get along or drop out here and there along the way, as in the past. Having come so far from such a humble beginning, it is a shame not to realize the full potential that is clearly there: a potential to nearly double sales dollars without new plants and to produce from a plentiful resource, at least for the next half-century, all the methanol that can be imagined to be needed. Beyond that the industry can turn to renewable energy--the sun--via biomass growth, to make their product. In so doing, it can perhaps apply methanol as a plant growth stimulant, in effect making the product fully self-sustainable. The world needs to know what methanol can do to provide--economically and reliably--the things upon which a better life rests

  17. Regulation and competition in United Kingdom electricity and gas industries

    International Nuclear Information System (INIS)

    McGowan, F.

    1992-01-01

    Focussing on the role of regulation in developing competition, this paper reviews the development of a regulation system to monitor and control prices, as well as, quality of service, in the UK's recently privatized electricity and gas industries. The review covers: the control mechanisms applied to the natural gas tariff and contract markets in the area of common carriage; performance monitoring and the concept of yardstick competition in the electric power industry; and the management and control, by OFFER (Office of Electricity Regulation), of the total 'pool' of generated electricity. It is noted that whereas Great Britain's particular energy supply situation permits this nation to attempt privatization/competition regulation, the energy balances of other European countries make similar attempts, for them, risky. The UK experience with privatization/competition regulation so far has shown that regulation is indispensable in guaranteeing competition, and that the incorporation of the controlling board within the framework of anti-trust legislation and the granting of full autonomy to this board has greatly favoured its effectiveness

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

    OpenAIRE

    Steffan G. Ball; Hamish W. Low

    2009-01-01

    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-...

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

    Science.gov (United States)

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

    2014-05-01

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

  20. INSURANCE INTERMEDIARIES

    Directory of Open Access Journals (Sweden)

    Andreea Stoican

    2013-11-01

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

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

    OpenAIRE

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

    2017-01-01

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

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

    Science.gov (United States)

    Rydlewska-Liszkowska, Izabela

    2014-01-01

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

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

    OpenAIRE

    Sanja Coric; Danijel Bara

    2014-01-01

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

  4. The aplication of electronic commerce in the distribution of insurance services

    Directory of Open Access Journals (Sweden)

    Piljan Ivan

    2016-01-01

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

  5. Successful implementation effect of insurance services in money and capital financial markets

    Directory of Open Access Journals (Sweden)

    Nemat Tahmasebi

    2016-11-01

    Full Text Available One of the most important sectors of the economy of each country is capital market. Economic growth can lead to the development and prosperity of the capital market. On the other hand to achieve the desired economic development, without existence of effective financial institutions and appropriate equipment of financial resources, it is impossible. In this regard, efficient financial systems through seeking information about investment opportunities, integrate and mobilize savings, monitoring investments and exert corporate governance can facilitate the exchange of goods and services, distribution and risk management, reducing transaction costs and data analysis may lead to better allocation of resources and ultimately economic growth. Insurance companies and generally insurance industry in each country is the most important and active financial institutions operating in the financial market especially capital markets in addition to securing economic activity could have basic role in mobility of financial markets and providing funds to invest in the economic activity through the provision of insurance services. In this study, successful financial services of insurance and investment funds in insurance companies such as Dana, Alborz, and Asia have been studied in Tehran. According to the hypothesis, there is a significant correlation between successful implementation of insurance services and money and capital financial markets. There is a significant correlation between different types of insurance services (institution-building, instrument making, and general insurance policies and money and capital financial markets.

  6. Reimbursing Dentists for Smoking Cessation Treatment: Views From Dental Insurers

    Science.gov (United States)

    Wright, Shana; McNeely, Jennifer; Rotrosen, John; Winitzer, Rebecca F.; Pollack, Harold; Abel, Stephen; Metsch, Lisa

    2012-01-01

    Introduction: Screening and delivery of evidence-based interventions by dentists is an effective way to reduce tobacco use. However, dental visits remain an underutilized opportunity for the treatment of tobacco dependence. This is, in part, because the current reimbursement structure does not support expansion of dental providers’ role in this arena. The purpose of this study was to interview dental insurers to assess attitudes toward tobacco use treatment in dental practice, pros and cons of offering dental provider reimbursement, and barriers to instituting a tobacco use treatment-related payment policy for dental providers. Methods: Semi-structured interviews were conducted with 11 dental insurance company executives. Participants were identified using a targeted sampling method and represented viewpoints from a significant share of companies within the dental insurance industry. Results: All insurers believed that screening and intervention for tobacco use was an appropriate part of routine care during a dental visit. Several indicated a need for more evidence of clinical and cost-effectiveness before reimbursement for these services could be actualized. Lack of purchaser demand, questionable returns on investment, and segregation of the medical and dental insurance markets were cited as additional barriers to coverage. Conclusions: Dissemination of findings on efficacy and additional research on financial returns could help to promote uptake of coverage by insurers. Wider issues of integration between dental and medical care and payment systems must be addressed in order to expand opportunities for preventive services in dental care settings. PMID:22387994

  7. Insurance of nuclear risk

    International Nuclear Information System (INIS)

    Lacroix, M.

    1976-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Comfort Fuah Kwanga

    2017-10-01

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

  9. Risk assessment and risk transfer from an insurerś point of view

    Science.gov (United States)

    Ebner, G.

    2009-04-01

    Risk, a word that causes a lot of associations in human brains. Many of us don't like risks. Since hundreds of years insurance is the most common way to get rid of the financial consequences when risks convert to damages. This article deals with commercial risks and the possibilities of risk transfer, an important task within the field of risk management. For commercial entities it is very important to transfer risks, threatening the competitiveness or even worse the existence of a company. At the beginning of insurance it was more the less a bet between merchants and rich people. Later on mutual societies were taking place. Today we see a complex insurance industry with insurers, reinsurers, self insuring possibilities via captives and much more. This complex system, with all the different ways to deal with risk transfer requires a professional risk assessment! Risk assessment is based on knowledge about the threatened assets, the likelihood that they will be damaged, the threats and the possibilities to protect these assets. Assets may be tangible or intangible. Assessing risks is not a precise calculation that delivers a result without any doubt. But insurers and insured need a basis to fix a premium, both of them can agree. This contribution will present a system to assess risks and to find the right risk-transfer-premiums.

  10. Environmental risk management for: insurance requirements, mergers and acquisitions and plant closures

    Energy Technology Data Exchange (ETDEWEB)

    Pizzi, F.P.

    1985-03-01

    Industry cannot rely on external sources such as EIL Insurance as the primary vehicle for minimizing or reducing environmental liabilities. We must develop strong internal risk management programs and procedures to eliminate or minimize the risks from operations.

  11. THE BUSINESS OF WELLNESS: THE HEALTH INSURANCE INDUSTRY’S RESPONSE TO PUBLIC HEALTH CAMPAIGNS, 1960-1990

    Directory of Open Access Journals (Sweden)

    Christiane Diehl-Taylor

    1999-01-01

    Full Text Available This paper examines the health insurance industry’s response to the welliness movement between 1960 and 1990. Based primarily on insurance and personnel management trade publications, it argues that the health insurance industry cautiously joined the weliness campaigns of the 70s and 80s despite its on-going reservations regarding the actuarial basis for rate differentials. The industry’s business-like conservatism was overcome by its recognition of wellness promotion as a cost-control measure, public relations tool, and means to stave off the threat of further governmental oversight and regulation.

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

    Directory of Open Access Journals (Sweden)

    Nataliia Kudriavska

    2017-11-01

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

  13. The Financial Market of the Cross and Up-Selling Insurers from Romania

    Directory of Open Access Journals (Sweden)

    Luminita-Maria Filip

    2012-05-01

    Full Text Available The biggest threat for the worldwide financial system is the recession at global level, which wouldhave a major impact on the insurance industry. The differences between the results of European companiesduring the crisis, had a close connection with the aggressive or defensive investment strategies. Although thebank assurance agreements exist and they are developing further, the partnerships of this type didn’t have theexpected success in Romania, so far. Once with the market penetration from Romania of some insurers ofEuropean size, more specialized companies have launched bank assurance partnerships with banks, especiallyin the view of distribution of life insurances, and more recently, of the promoting the package of currentaccount, products of savings – credit in the housing domain, pension funds, credits for small companies,mortgages and the one of personal needs. The success of this type of sale is still to come and put in doubt, atthis point, the efficiency of promoting the banking products by insurers.

  14. 41 CFR 60-741.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life 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...

  15. 77 FR 25349 - Mutual Insurance Holding Company Treated as Insurance Company

    Science.gov (United States)

    2012-04-30

    ..., 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...

  16. Industrial hazard and safety handbook

    CERN Document Server

    King, Ralph W

    1979-01-01

    Industrial Hazard and Safety Handbook (Revised Impression) describes and exposes the main hazards found in industry, with emphasis on how these hazards arise, are ignored, are identified, are eliminated, or are controlled. These hazard conditions can be due to human stresses (for example, insomnia), unsatisfactory working environments, as well as secret industrial processes. The book reviews the cost of accidents, human factors, inspections, insurance, legal aspects, planning for major emergencies, organization, and safety measures. The text discusses regulations, codes of practice, site layou

  17. AREAS FOR INNOVATIVE PRODUCTS IMPLEMENTATION IN THE INSURANCE MARKET OF UKRAINE

    Directory of Open Access Journals (Sweden)

    Diana Tretiak

    2017-11-01

    Full Text Available The aim of the article is to assess the prospects for the implementation of the investment life insurance in Ukraine. The study analysed the experience of foreign countries in the investment life insurance market development. Also, an analysis of existing definitions for the "unit-linked" term is carried out; the result is the conclusion that they are limited to only a descriptive characteristic that relates to a particular aspect of the product. Upon that, a comprehensive definition is absent at all now. Methods. The study is based on a comparison of "unitlinked" products with the traditional life insurance, which exist in the world practice. Practical importance. Increase in the inflow of long-term resources in the Ukrainian economy through the implementation of an innovative unitlinked product. Transformation of the life insurance industry into the high-margin business sphere in Ukraine. Importance/originality. A technique of constructing an innovative unit-linked product depending on the specifics of the domestic insurance market performance is developed. Results. The article considers in depth the specific features of unit-linked products, which distinguish this life insurance type from the classic accumulative insurance. In addition, it highlights other important characteristics such as a high level of flexibility and transparency of all the components. Also, the advantages and disadvantages of unit-linked products are considered as compared to alternative products, its classification is held for the selected parameter group. The estimations of the unit-linked product development prospects, as well as its influence on the growth of the insurance market, are made. The study justifies the legislative consolidation of the investment life insurance along with a number of expansionary measures successfully implemented in Eastern European countries, which are similar to Ukraine. The result within the framework of this direction is the

  18. How health care reform can lower the costs of insurance administration.

    Science.gov (United States)

    Collins, Sara R; Nuzum, Rachel; Rustgi, Sheila D; Mika, Stephanie; Schoen, Cathy; Davis, Karen

    2009-07-01

    The United States leads all industrialized countries in the share of national health care expenditures devoted to insurance administration. The U.S. share is over 30 percent greater than Germany's and more than three times that of Japan. This issue brief examines the sources of administrative costs and describes how a private-public approach to health care reform--with the central feature of a national insurance exchange (largely replacing the present individual and small-group markets)--could substantially lower such costs. In three variations on that approach, estimated administrative costs would fall from 12.7 percent of claims to an average of 9.4 percent. Savings--as much as $265 billion over 2010-2020--would be realized through less marketing and underwriting, reduced costs of claims administration, less time spent negotiating provider payment rates, and fewer or standardized commissions to insurance brokers.

  19. Securitization product design for China's environmental pollution liability insurance.

    Science.gov (United States)

    Pu, Chengyi; Addai, Bismark; Pan, Xiaojun; Bo, Pangtuo

    2017-02-01

    The environmental catastrophic accidents in China over the last three decades have triggered implementation of myriad policies by the government to help abate environmental pollution in the country. Consequently, research into environmental pollution liability insurance and how that can stimulate economic growth and the development of financial market in China is worthwhile. This study attempts to design a financial derivative for China's environmental pollution liability insurance to offer strong financial support for significant compensation towards potential catastrophic environmental loss exposures, especially losses from the chemical industry. Assuming the risk-free interest rate is 4%, the market portfolio expected return is 12%; the financial asset beta coefficient is 0.5, by using the capital asset pricing model (CAPM) and cash flow analysis; the principal risk bond yields 9.4%, single-period and two-period prices are 103.85 and 111.58, respectively; the principal partial-risk bond yields 10.09%, single-period and two-period prices are 103.85 and 111.58, respectively; and the principal risk-free bond yields 8.94%, single-period and two-period prices are 107.99 and 115.83, respectively. This loss exposure transfer framework transfers the catastrophic risks of environmental pollution from the traditional insurance and reinsurance markets to the capital market. This strengthens the underwriting capacity of environmental pollution liability insurance companies, mitigates the compensation risks of insurers and reinsurers, and provides a new channel to transfer the risks of environmental pollution.

  20. 78 FR 56583 - Deposit Insurance Regulations; Definition of Insured Deposit

    Science.gov (United States)

    2013-09-13

    ... 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...

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

    Science.gov (United States)

    Douven, Rudy C H M; Schut, Frederik T

    2011-03-01

    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.

  2. Probabilistic insurance

    OpenAIRE

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

    1997-01-01

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

  3. Women's Health Insurance Coverage

    Science.gov (United States)

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

  4. The Antecedents of Customer Loyalty: An Empirical Investigation in Life Insurance Context

    Directory of Open Access Journals (Sweden)

    Srivastava Medha

    2013-06-01

    Full Text Available The present paper seeks to offer the most decipherable and widely applicable antecedents of customer loyalty. It explores the extant literature on customer loyalty and brings out seven variableswhich are responsible for formation of customer loyalty. Further, the relative importance of these variables has been ascertained through Multiple Regression Analysis which revealed that service quality and commitment are the strongest predictors of customer loyalty in theIndian life insurance industry. The paper also attempts to assess the loyalty status of life insurance customers in India and draw a comparison between public and private sector life insurancecompanies in order to provide significant insights to the life insurance companies that may assist them in devising better loyalty practices. The findings suggest that Indian customers do care about the public sector status of a financial service provider as it entails a sense of security and stability and thus creates a difference between customer loyalty of public sector life insurerand that of private sector life insurer. The paper holds significant implications for academicians interested in dynamics of customer loyalty as well as the marketers of life insurance services whoare concerned with customer relationships.

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

    Directory of Open Access Journals (Sweden)

    Iryna Honcharenko

    2017-12-01

    the investment insurance market are identified. Investment insurance in Ukraine has a high potential for active use and transformation into a popular insurance product. It is necessary to carry out further adaptation of products unit-linked to the structure and specifics of the domestic insurance market. The growth of the volume of investment insurance and, as a consequence, the expansion of the life insurance market as a whole, could become one of the most important factors in the development of the insurance industry in Ukraine in the near future. Practical implications. The main idea of the article was to justify the expediency of providing and using the investment insurance service in Ukraine, subject to minimize the shortcomings of this type of insurance and taking into account the prospects for its further development in the domestic financial market. Value/originality. The conducted research allowed getting some results, such as promising directions for the development of this type of financial product in the domestic insurance market.

  6. Performance evaluation of the insurance companies based on AHP

    Science.gov (United States)

    Lu, Manhong; Zhu, Kunping

    2018-04-01

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

  7. CURRENT CHANGES ON INSURANCE MARKET

    Directory of Open Access Journals (Sweden)

    Madalina Giorgiana MANGRA

    2016-12-01

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

  8. The influence of length of relationship, gender and age on the relationship intention of short-term insurance clients: an exploratory study

    Directory of Open Access Journals (Sweden)

    Derik Steyn

    2011-09-01

    insurance industry completed self-administered questionnaires. Findings indicate that, for a group of high relationship-intention clients of a short-term insurance organisation, no practically significant discrimination exists on any of the relationship-intention constructs for clients’ length of relationship, gender or age.

  9. Teoria da adequação econômica da conduta: significado econômico da conduta em face da tutela penal antitruste

    OpenAIRE

    Luiz da Silva, Ivan

    2009-01-01

    Essa tese tem por objetivo o desenvolvimento da teoria da adequação econômica da conduta no direito penal econômico. Vale-se de uma abordagem interdisciplinar abrangendo a Economia, o direito econômico e o direito penal. Para alcançar o desiderato a investigação analisou a intervenção do direito penal em face da atividade econômica e, em especial, os fundamentos da tutela penal antitruste, para fins de estabelecer os contornos teóricos necessários à aplicação das premissas fund...

  10. 29 CFR 1904.2 - Partial exemption for establishments in certain industries.

    Science.gov (United States)

    2010-07-01

    ... Partial exemption for establishments in certain industries. (a) Basic requirement. (1) If your business establishment is classified in a specific low hazard retail, service, finance, insurance or real estate industry... industry classification exemption apply only to business establishments in the retail, services, finance...

  11. 78 FR 33690 - Common Crop Insurance Regulations; Pecan Crop Insurance Provisions; Correction

    Science.gov (United States)

    2013-06-05

    ...-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

  12. Health Insurance

    Science.gov (United States)

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

  13. Health insurance basic actuarial models

    CERN Document Server

    Pitacco, Ermanno

    2014-01-01

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

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

    Science.gov (United States)

    van Eijk, Marieke

    2017-12-01

    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.

  15. 76 FR 20298 - Insurer Reporting Requirements; List of Insurers; Required To File Reports

    Science.gov (United States)

    2011-04-12

    ... 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...

  16. 75 FR 34966 - Insurer Reporting Requirements; List of Insurers Required To File Reports

    Science.gov (United States)

    2010-06-21

    ... 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...

  17. 41 CFR 60-300.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

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

  18. 41 CFR 60-250.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

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

  19. Public Insurance and Equality

    DEFF Research Database (Denmark)

    Landes, Xavier; Néron, Pierre-Yves

    2015-01-01

    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...

  20. 75 FR 14609 - Commercial Fishing Industry Vessel Safety Advisory Committee; Vacancies

    Science.gov (United States)

    2010-03-26

    ... which Chapter 45 of Title 46, U.S.C. applies and persons representing the marine insurance industry... Industry Vessel Safety Advisory Committee; Vacancies AGENCY: Coast Guard, DHS. ACTION: Request for applications. SUMMARY: The Coast Guard seeks applications for membership on the Commercial Fishing Industry...

  1. Conference report. Deregulation by way of antitrust legislation; 22nd symposium on energy law in Cologne on November 4, 1993. Tagungsbericht. Deregulierung durch Kartellrecht; 22. Energiewirtschaftsrechtliche Tagung am 4. 11. 93 in Koeln

    Energy Technology Data Exchange (ETDEWEB)

    Anon,

    1994-01-01

    ''Deregulation and regulation by way of national and EC antitrust legislation - The evolution of the law on competition and its effects on the German power supply sector'' was the topic of the 22nd annual meeting of the Institute for Energy Law of Cologne University. The meeting on November 4, 1993 gathered about 350 energy experts in Cologne. (orig.)

  2. Farmers Insures Success

    Science.gov (United States)

    Freifeld, Lorri

    2012-01-01

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

  3. 76 FR 41138 - Insurer Reporting Requirements; List of Insurers Required To File Reports

    Science.gov (United States)

    2011-07-13

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

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

    Science.gov (United States)

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

    2012-04-01

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

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

    Directory of Open Access Journals (Sweden)

    Mohit Panwar

    2015-08-01

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

  6. Prescription period in the revised Paris convention and its consequences for insurers

    International Nuclear Information System (INIS)

    Stanislas, A.

    2000-01-01

    Despite the high level of safety and technical improvements achieved in nuclear industry over more than thirty years of operation, the original reasons for which this industry enjoys a special liability regime are still valid. ''The possibility remains that incidents capable of causing considerable damage should occur'' and Common law is still not well adapted to deal with the specific problems in this field. Consequently, whatever the conclusions of the Paris Convention revision exercise in progress at the NEA of the OECD may be, it is likely that the future specific liability regime will still need limits both in amount and in time for insurance purposes at least. While, at present, insurers can cope with a 10-year prescription period in their Nuclear Third Party Liability policies, the possible extension of this period to thirty years for personal injuries would not be acceptable without clear provisions in the Protocol and in National legislation. (author)

  7. 32 CFR 220.11 - Special rules for automobile liability insurance and no-fault automobile insurance.

    Science.gov (United States)

    2010-07-01

    ... 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...

  8. Alternative health insurance schemes

    DEFF Research Database (Denmark)

    Keiding, Hans; Hansen, Bodil O.

    2002-01-01

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

  9. 78 FR 52780 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...

    Science.gov (United States)

    2013-08-26

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

  10. 77 FR 36566 - National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers...

    Science.gov (United States)

    2012-06-19

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

  11. Insurance: Accounting, Regulation, Actuarial Science

    OpenAIRE

    Alain Tosetti; Thomas Behar; Michel Fromenteau; Stéphane Ménart

    2001-01-01

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

  12. Risk Management in Insurance Companies

    OpenAIRE

    Yang, Xufeng

    2006-01-01

    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...

  13. Modeling Flood Insurance Penetration in the European Non-Life Market: An Overview

    Science.gov (United States)

    Mohan, P.; Thomson, M.-K.; Das, A.

    2012-04-01

    , insurance cover is generally limited or not available in high risk zones due to high risk proximity. To estimate this relationship, flood extent maps, modeled return periods, socio- economic indicators and the spatial distribution of insured portfolios can be used to quantify the economic to insured exposure ratio. Adequately modeling these insurance conditions not only allows developing an industry view of the exposed property and values at risk from flood but also improves loss assessments. From an insurance perspective, such a model is beneficial for assessing insurance cover related to flood damage - especially due to differences in policies in high-exposure zones - the role of governments, and to assist insurers and reinsurers to make informed decision in allocating their portfolios.

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

    Science.gov (United States)

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

    2017-10-01

    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. Black Box Thinking: Analysis of a Service Outsourcing Case in Insurance

    Science.gov (United States)

    Witman, Paul D.; Njunge, Christopher

    2016-01-01

    Often, users of information systems (both automated and manual) must analyze those systems in a "black box" fashion, without being able to see the internals of how the system is supposed to work. In this case of business process outsourcing, an insurance industry customer encounters an ongoing stream of customer service issues, with both…

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

    OpenAIRE

    Koeniger, Winfried

    2002-01-01

    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. A economia das firmas cooperadas e a análise antitruste*

    Directory of Open Access Journals (Sweden)

    Luiz A. Esteves

    2015-12-01

    Full Text Available Resumo A literatura econômica tem despendido décadas de esforço analítico para fornecer evidências teóricas e empíricas acerca das diferenças de comportamento entre as firmas gerenciadas pelo capital (firmas capitalistas convencionais e firmas gerenciadas pelo trabalho (inclui as cooperativas e associações de profissionais, principalmente no que diz respeito aos seus objetivos. As firmas capitalistas convencionais objetivam a maximização dos lucros, enquanto que as firmas cooperadas objetivam a estabilidade do emprego e do produto. A política antitruste tem replicado o mesmo tratamento despendido às firmas capitalistas convencionais para os casos envolvendo as firmas cooperadas. Tal decisão pode aumentar a probabilidade de ocorrências de erros do tipo I e do tipo II. Esse problema se torna menor quando os casos envolvem "falsas cooperativas". Em termos de política pública, a conclusão do presente artigo é de que uma concentração ou coordenação entre cooperados de fato ou profissionais não é, per se, condição necessária e suficiente para causar dano concorrencial. As especificidades destes tipos de organizações demandam análise específica e a aplicação da regra da razão. Finalmente, o artigo fornece uma proposta de filtro para distinção entre firmas cooperadas de fato e de cartéis disfarçados de cooperativas.

  18. [Diagnosis and insurance compensation of occupational diseases in construction industry].

    Science.gov (United States)

    Bresciani, M; Riva, M M; Giorgi, M; Ghezzi, L; Sidoti, C; Mosconi, G

    2007-01-01

    The aim of this study is to evaluate the outcome of 302 occupational diseases in building workers detected by UOOML Ospedali Riuniti of Bergamo and notified to INAIL from 2000 to 2005. The 41.3% of cases were accepted as work-related. Among remaining cases (58.7%), INAIL rejected 40.9% for lack or absence of documentation. 59.1% for no adhesion to legal medicine criteria. By analysis of occupational diseases detected in the last 5 years, we found an increase of muscle-skeletal disorders, for which, now, diagnostic procedure and insurance evaluation are difficult. This work shows a wide gap between reported occupational diseases of buildings workers and compensation given by INAIL. These results underlines the need of comparison among involved institutions in order to standardize statistical and diagnostic instruments.

  19. Insurance dictionary

    International Nuclear Information System (INIS)

    Mueller-Lutz, H.L.

    1984-01-01

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

  20. International P/L Insurance Output, Input, and Productivity Comparisons

    OpenAIRE

    Mary A. Weiss

    1991-01-01

    This research provides (bilateral) divisia and multilateral divisia indexes of output, input, and productivity for the property-liability (P-L) insurance industry for the following countries: United States, West Germany, Switzerland, France, and Japan. The time period studied is 1975 to 1987. The results indicate that considerable diversity exists among different countries, with Japan showing the weakest productivity growth. The United States and West Germany are associated overall with high ...

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