WorldWideScience

Sample records for insurance industry fair

  1. 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

  2. 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...

  3. 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...

  4. 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.

  5. 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...

  6. 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.

  7. 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.

  8. Fair premium rate of the deposit insurance system based on banks' creditworthiness

    OpenAIRE

    Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad

    2017-01-01

    Purpose: Deposit insurance is a key element in modern banking, as it guarantees the financial safety of deposits at depository financial institutions. It is necessary to have at least a dual fair premium rate system based on the creditworthiness of financial institutions, as considering a singular premium system for all banks will have a moral hazard. In this paper, we develop a theoretical as well as an empirical model for calculating dual fair premium rates. Design/methodology/approach: Our...

  9. 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...

  10. 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)

  11. 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.

  12. 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.

  13. 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.

  14. 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

  15. 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.

  16. Fair

    CERN Multimedia

    2005-01-01

    The 'Presses Polytechniques Universitaires Romandes' is organising a book exhibition. The major topics covered will be science and technology. The fair will take place in the foyer of the main building (building 60), and will be open from 10am - 4pm on 5th July 2005.

  17. 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…

  18. 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)

  19. 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

  20. 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.

  1. 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.

  2. 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

  3. 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.

  4. 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

  5. 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…

  6. 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

  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. 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.

  9. 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.

  10. 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)

  11. 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.

  12. 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.

  13. 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.

  14. 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

  15. 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…

  16. 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...

  17. 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…

  18. 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.

  19. 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

  20. Relevance between the degree of industrial competition and fair value information: Study on the listed companies in China

    Directory of Open Access Journals (Sweden)

    Xuemin Zhuang

    2015-05-01

    Full Text Available Purpose: The purpose of this article is to study whether there exists natural relationship between fair value and corporate external market. A series of special phenomenon in the application of fair value arouses our research interests, which present evidences on how competition affects the correlation of fair value information. Design/methodology/approach: this thesis chooses fair value changes gains and losses and calculate the ratio of DFVPSit as the alternative variable of the fair value. In order to effectively inspect the mutual influence between the degree of industry competition and the value relevance of fair value, and reduce the impact of multi-collinearity, we built a regression model on the hypothesis, which supposes that if other conditions are the same, the fair value information has greater value relevance if the degree of the industry competition is greater. To test the hypothesis, we use the comparison of the DFVPSit coefficient absolute value to judge the value relevance of fair value information, and the greater the absolute value is, the higher relevance between the changes in fair value per share profits and losses with the stock prices. Findings: The higher the degree of competition in the industry is, the more fair value information relevance is. Also, there are evidences representing that fair value information often presents negative correlation with the stock price. Originality/value: The main contribution of the article is to show that not only need we make the formulation and implementation of the high quality of fair value accounting standards to suit for both the national conditions and international practice, but also need we further to improve the company's external governance mechanism to promote fair value’s information correlation.

  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. 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…

  3. 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

  4. 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.

  5. 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.

  6. 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.…

  7. 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

  8. 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…

  9. 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

  10. 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.

  11. 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

  12. 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

  13. [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.

  14. 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.

  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. 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.

  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. 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

  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. 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

  1. [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.

  2. The importance of industrial property rights, legal monopolies for fair competition; La importancia de los derechos de propiedad industrial. Monopolios legales para una competneica leal

    Energy Technology Data Exchange (ETDEWEB)

    Hernandez Rodriguez, J. A.

    2011-07-01

    Industrial property rights are an exception, perhaps the main, for freedom competition and entrepreneurial freedom. Those rights give the holder an exclusive right, and the existence of these legal monopolies is essential for the development of fair competition. Industrial property rights are national and, therefore, to obtain registration and exclusive rights in several countries, they must register on each of them. However, in recent years are emerging industrial property rights with impact on a number of countries (Community marks and designs). (Author)

  3. 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.

  4. 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.

  5. Taking CERN and ESA technology to the World’s largest industry fair

    CERN Multimedia

    2014-01-01

    Signed just two weeks ago, the new CERN-ESA agreement is already bearing fruit. This week, our two organisations went to the World’s leading industrial fair, the Hannover Messe, with a joint stand showcasing technologies derived from particle physics and space research.   The notion that space brought us Teflon is something of a cliché, and of dubious veracity, while the World Wide Web is the technology most closely, and in this case correctly, identified with CERN. But technology transfer from ESA and CERN goes well beyond clichés: much of the technology we take for granted today can be traced back to basic research in the highly demanding research fields our organizations deal in. This is a message that both CERN and ESA strive to communicate, and the Hannover Messe gave us that opportunity. But going to Hannover was about more than showcasing past success: it was first and foremost about laying the groundwork for future success. Much of the technology deve...

  6. Perceptions in the Music Industry : How the Music Industry Perceives Itself in Regards to Fairness in the Distribution of Revenue in Music Streaming

    OpenAIRE

    Aasen, Martin Mørch

    2017-01-01

    Master's thesis Music Management MU501 - University of Agder 2017 For as long as I have known of the existence of the music industry, I have heard two sides of its fairness towards artists. This was the case when I was a child and teenager, during the cassette- and CD-age, as well as my adult life, in the age of digital music and music streaming. I was curious not just to whether or not it was a fair business, but what the different perceptions of the industry was, especially today in the ...

  7. 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)

  8. 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…

  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. 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

  11. Safety, economic incentives and insurance in the Norwegian petroleum industry

    International Nuclear Information System (INIS)

    Osmundsen, Petter; Aven, Terje; Erik Vinnem, Jan

    2008-01-01

    There is an increased use of key performance indicators and incentive schemes in the petroleum industry. Applying modern incentive theory, we explore what implications this management trend has for injury and major accident prevention efforts and safety. Can economic incentives be designed for accident prevention activities? In cases where this is not possible, what are the challenges for the safety efforts? In particular, how are safety efforts affected by enhanced economic incentives for other performance dimensions like production and rate of return? Can safety be neglected? What remedies are available?

  12. 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)

  13. Mandatory Fair Value Accounting and Information Asymmetry: Evidence from the European Real Estate Industry

    OpenAIRE

    Karl A. Muller, III; Edward J. Riedl; Thorsten Sellhorn

    2011-01-01

    We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European real estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided t...

  14. 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.

  15. 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.

  16. 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.

  17. 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.

  18. Optimal Resource Allocation for NOMA-TDMA Scheme with α-Fairness in Industrial Internet of Things.

    Science.gov (United States)

    Sun, Yanjing; Guo, Yiyu; Li, Song; Wu, Dapeng; Wang, Bin

    2018-05-15

    In this paper, a joint non-orthogonal multiple access and time division multiple access (NOMA-TDMA) scheme is proposed in Industrial Internet of Things (IIoT), which allowed multiple sensors to transmit in the same time-frequency resource block using NOMA. The user scheduling, time slot allocation, and power control are jointly optimized in order to maximize the system α -fair utility under transmit power constraint and minimum rate constraint. The optimization problem is nonconvex because of the fractional objective function and the nonconvex constraints. To deal with the original problem, we firstly convert the objective function in the optimization problem into a difference of two convex functions (D.C.) form, and then propose a NOMA-TDMA-DC algorithm to exploit the global optimum. Numerical results show that the NOMA-TDMA scheme significantly outperforms the traditional orthogonal multiple access scheme in terms of both spectral efficiency and user fairness.

  19. Impact of IFRS 13 on disclosure requirements under fair value hierarchy : Case: Industrial sector in Finland

    OpenAIRE

    Artemyeva, Anastasia

    2016-01-01

    Due to globalization, more companies become international. This created a necessity for a common accounting language, International Financial Reporting Standards (IFRS). International convergence of accounting standards is still under investigation and new standards are being issued. This research work is specifically focused on one accounting standard, IFRS 13, Fair Value Measurement that is planned to be under a post implementation review in 2016. The study investigated the impact of IFRS 1...

  20. 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

  1. 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.

  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. 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

  4. 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

  5. Relevance between the degree of industrial competition and fair value information: Study on the listed companies in China

    OpenAIRE

    Xuemin Zhuang; Yonggen Luo

    2015-01-01

    Purpose: The purpose of this article is to study whether there exists natural relationship between fair value and corporate external market. A series of special phenomenon in the application of fair value arouses our research interests, which present evidences on how competition affects the correlation of fair value information. Design/methodology/approach: this thesis chooses fair value changes gains and losses and calculate the ratio of DFVPSit as the alternative variable of the fair value....

  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. 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

  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. Price fairness

    OpenAIRE

    Diller, Hermann

    2013-01-01

    Purpose – The purpose of this article is to integrate the various strands of fair price research into a concise conceptual model. Design/methodology/approach – The proposed price fairness model is based on a review of the fair pricing literature, incorporating research reported in not only English but also German. Findings – The proposed fair price model depicts seven components of a fair price: distributive fairness, consistent behaviour, personal respect and regard for the partner, fair dea...

  10. 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.

  11. 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

  12. 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.

  13. 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.

  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. 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.

  16. 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…

  17. 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...

  18. Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry

    OpenAIRE

    Karl A. Muller; Edward J. Riedl; Thorsten Sellhorn

    2008-01-01

    We examine the causes and consequences of European real estate firms' decisions to provide investment property fair values prior to the required disclosure of this information under International Financial Reporting Standards (IFRS). We find evidence that investor demand for fair value information-reflected in more dispersed ownership-and a firm's commitment to transparency increase the likelihood of providing fair values prior to their required provision under International Accounting Standa...

  19. 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%.

  20. 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

  1. 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

  2. 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.

  3. 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.

  4. 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.

  5. Fair value hierarchy in financial instrument disclosure. Is there transparency for investors? Evidence from the banking industry

    Directory of Open Access Journals (Sweden)

    Enrico Laghi

    2012-11-01

    Full Text Available The debate on fair value accounting is still open although the last 20 years have been spent in looking for solutions by academics, practitioners and institutions. After long and continuous discussion both on the basic concepts and the information level contained in fair value measurements and on the different solutions that are possible to adopt in mark to market measurements, IASB and FASB have recently issued new standards on fair value measurements applying some principles not only to financial instruments but also to property and other investments. To verify if the solutions adopted in these Standards really improve the disclosure level and the “usefulness of data for investors”, this paper analyzes the actual level of transparency and the “usefulness” of the “fair value hierarchy” (which from some points of view synthesized the Board’s way of thinking regarding to fair value which has already been introduced for financial instruments by IFRS 7, Financial Instruments: Disclosure. The paper presents results of an empirical investigation on a sample of domestic and foreign listed banks that adopted fair value hierarchy in line with SFAS 157 and IFRS 7 recommendations. Research questions can be summarized as follows: (i does fair value hierarchy improve transparency in financial instrument evaluation in bank annual reports, or can it be considered as a tool for earnings management?

  6. 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…

  7. 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

  8. 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.

  9. 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...

  10. 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.

  11. 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.

  12. 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

  13. 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.

  14. 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

  15. 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...

  16. 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

  17. [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

  18. How fair is fair trade?

    NARCIS (Netherlands)

    Maseland, Robbert; Vaal, Albert de

    2001-01-01

    This paper investigates to what extent fair trade programmes, are indeed ‘fair’. This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost

  19. 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.

  20. 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.

  1. 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

  2. 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

  3. 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

  4. 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...

  5. Reward Systems and Performance of Sales: A Descriptive Study among the Ghanaian Insurance Industry

    Directory of Open Access Journals (Sweden)

    Joshua Ohene-Danso

    2015-04-01

    Full Text Available Ghanaian managers over recent years have taken a steady pattern of organizational policies, aimed specifically at enhancing employees’ development and management. Significant among these measures are recognition and rewards management. The system of rewards at selected Ghanaian Insurance Companies within it Southern Sector operations affected the performance of employees in the sales and marketing of products. Descriptive results indicate that, reward strategies are significant in providing an incentive to employees to work. It is recommended that total rewards should be extended to cover job security and other benefits in the form of recognition.

  6. A study on effects of organizational learning on organizational innovation: A case study of insurance industry

    Directory of Open Access Journals (Sweden)

    Maryam Marvasti

    2014-03-01

    Full Text Available This paper presents an empirical investigation to study the relationship between organization learning and organization innovation in one of Iranian insurance firm. The proposed study selects a sample of 300 employees who work for different positions for the case study of this paper and using Pearson correlation as well as Freedman tests determines the relationship and ranks different components of the survey. The results of this implementation have indicated that organization innovation influences on organizational learning, data distribution, interpretation and memory significantly but the effect of organizational innovation on data collection cannot be confirmed when the level of significance is five or even ten percent. The implementation of Freedman test has also indicated that Information interpretation is number priority followed by information learning, organizational distribution and organizational memory.

  7. 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.

  8. Book fair

    CERN Multimedia

    2006-01-01

    The Swiss academic publishing house 'Presses Polytechniques Universitaires Romandes'will be presenting its most recent scientific and technical publications at a book fair in the lobby of the Main Building (60) from 10 a.m. to 4 p.m. on Thursday 28 September 2006.

  9. 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

  10. Social Justice Feminism and its Counter-Hegemonic Response to Laissez-Faire Industrial Capitalism and Patriarchy in the United States, 1899-1940

    Directory of Open Access Journals (Sweden)

    John Thomas McGuire

    2017-02-01

    Full Text Available This article uses the hegemonic/counter-hegemonic framework of Italian scholar and activist Antonio Gramsci to explain how a movement known as social justice feminism emerged as a counter-hegemonic response to two hegemonic concepts established in and continued, respectively, the post-Civil War United States: laissez-faire industrial capitalism and patriarchal dominance. In four stages from 1899 through 1940, social justice feminists pursued the promotion of an “entering wedge” labor legislation strategy and the increasing participation of women in national politics, particularly in the Democratic Party. While substantially successful in its goals, social justice feminism failed in two important aspects: its inability to work independently of a patriarchal political system, and, most significant, its apparent refusal to include women of color.

  11. Consumer Expectations of Online Services in the Insurance Industry: An Exploratory Study of Drivers and Outcomes.

    Science.gov (United States)

    Méndez-Aparicio, M Dolores; Izquierdo-Yusta, Alicia; Jiménez-Zarco, Ana I

    2017-01-01

    Today, the customer-brand relationship is fundamental to a company's bottom line, especially in the service sector and with services offered via online channels. In order to maximize its effects, organizations need (1) to know which factors influence the formation of an individual's service expectations in an online environment; and (2) to establish the influence of these expectations on customers' likelihood of recommending a service before they have even used it. In accordance with the TAM model (Davis, 1989; Davis et al., 1992), the TRA model (Fishbein and Ajzen, 1975), the extended UTAUT model (Venkatesh et al., 2012), and the approach described by Alloza (2011), this work proposes a theoretical model of the antecedents and consequences of consumer expectations of online services. In order to validate the proposed theoretical model, a sample of individual insurance company customers was analyzed. The results showed, first, the importance of customers' expectations with regard to the intention to recommend the "private area" of the company's website to other customers prior to using it themselves. They also revealed the importance to expectations of the antecedents perceived usefulness, ease of use, frequency of use, reputation, and subjective norm.

  12. Consumer Expectations of Online Services in the Insurance Industry: An Exploratory Study of Drivers and Outcomes

    Directory of Open Access Journals (Sweden)

    M. Dolores Méndez-Aparicio

    2017-07-01

    Full Text Available Today, the customer-brand relationship is fundamental to a company’s bottom line, especially in the service sector and with services offered via online channels. In order to maximize its effects, organizations need (1 to know which factors influence the formation of an individual’s service expectations in an online environment; and (2 to establish the influence of these expectations on customers’ likelihood of recommending a service before they have even used it. In accordance with the TAM model (Davis, 1989; Davis et al., 1992, the TRA model (Fishbein and Ajzen, 1975, the extended UTAUT model (Venkatesh et al., 2012, and the approach described by Alloza (2011, this work proposes a theoretical model of the antecedents and consequences of consumer expectations of online services. In order to validate the proposed theoretical model, a sample of individual insurance company customers was analyzed. The results showed, first, the importance of customers’ expectations with regard to the intention to recommend the “private area” of the company’s website to other customers prior to using it themselves. They also revealed the importance to expectations of the antecedents perceived usefulness, ease of use, frequency of use, reputation, and subjective norm.

  13. Planning and Designing Web- Based Electronic Commerce: a case study in the insurance industry

    Directory of Open Access Journals (Sweden)

    Rolf Teubner

    1998-11-01

    Full Text Available Electronic Commerce (EC comprises new ways of doing business with customers, suppliers and other business partners. EC is enabled by information and communication technology, in particular the World Wide Web (in short, the Web. While numerous organisations have started to use the Web as an interface to clients and business partners, many have been disappointed by lower than expected response rates and higher than expected costs. One reason for non profitable Web based EC applications is that they do not reflect the strategic preconditions of EC. This lack may be due to deficits in the process of developing an EC-strategy for their Web application. Furthermore, there is a void of instruments and tools to support this process. In order to fill this void, this paper proposes two basic frameworks for planning a Web based EC application. The application of these frameworks is illustrated by the example of a medium seized insurance company. Based on experiences drawn from the case study, the proposed frameworks will be evaluated.

  14. How Fair Is Actuarial Fairness?

    DEFF Research Database (Denmark)

    Landes, Xavier

    2015-01-01

    Insurance is pervasive in many social settings. As a cooperative device based on risk pooling, it serves to attenuate the adverse consequences of various risks (health, unemployment, natural catastrophes and so forth) by offering policyholders coverage against the losses implied by adverse events...... and burdens of social cooperation....

  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. 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

  17. 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.

  18. Fair innings.

    Science.gov (United States)

    Bognar, Greg

    2015-05-01

    In many societies, the aging of the population is becoming a major problem. This raises difficult issues for ethics and public policy. On what is known as the fair innings view, it is not impermissible to give lower priority to policies that primarily benefit the elderly. Philosophers have tried to justify this view on various grounds. In this article, I look at a consequentialist, a fairness-based, and a contractarian justification. I argue that all of them have implausible implications and fail to correspond to our moral intuitions. I end by outlining a different kind of consequentialist justification that avoids those implications and corresponds better to our considered moral judgments. © 2014 John Wiley & Sons Ltd.

  19. Asbestos-related occupational cancers compensated under the Industrial Accident Compensation Insurance in Korea.

    Science.gov (United States)

    Ahn, Yeon-Soon; Kang, Seong-Kyu

    2009-04-01

    Compensation for asbestos-related cancers occurring in occupationally-exposed workers is a global issue; this is also an issue in Korea. To provide basic information regarding compensation for workers exposed to asbestos, 60 cases of asbestos-related occupational lung cancer and mesothelioma that were compensated during 15 yr; from 1993 (the year the first case was compensated) to 2007 by the Korea Labor Welfare Corporation (KLWC) are described. The characteristics of the cases were analyzed using the KLWC electronic data and the epidemiologic investigation data conducted by the Occupational Safety and Health Research Institute (OSHRI) of the Korea Occupational Safety and Health Agency (KOSHA). The KLWC approved compensation for 41 cases of lung cancer and 19 cases of mesothelioma. Males accounted for 91.7% (55 cases) of the approved cases. The most common age group was 50-59 yr (45.0%). The mean duration of asbestos exposure for lung cancer and mesothelioma cases was 19.2 and 16.0 yr, respectively. The mean latency period for lung cancer and mesothelioma cases was 22.1 and 22.6 yr, respectively. The major industries associated with mesothelioma cases were shipbuilding and maintenance (4 cases) and manufacture of asbestos textiles (3 cases). The major industries associated with lung cancer cases were shipbuilding and maintenance (7 cases), construction (6 cases), and manufacture of basic metals (4 cases). The statistics pertaining to asbestos-related occupational cancers in Korea differ from other developed countries in that more cases of mesothelioma were compensated than lung cancer cases. Also, the mean latency period for disease onset was shorter than reported by existing epidemiologic studies; this discrepancy may be related to the short history of occupational asbestos use in Korea. Considering the current Korean use of asbestos, the number of compensated cases in Korea is expected to increase in the future but not as much as developed countries.

  20. A Review of Activity Trackers for Senior Citizens: Research Perspectives, Commercial Landscape and the Role of the Insurance Industry

    Directory of Open Access Journals (Sweden)

    Salvatore Tedesco

    2017-06-01

    Full Text Available The objective assessment of physical activity levels through wearable inertial-based motion detectors for the automatic, continuous and long-term monitoring of people in free-living environments is a well-known research area in the literature. However, their application to older adults can present particular constraints. This paper reviews the adoption of wearable devices in senior citizens by describing various researches for monitoring physical activity indicators, such as energy expenditure, posture transitions, activity classification, fall detection and prediction, gait and balance analysis, also by adopting consumer-grade fitness trackers with the associated limitations regarding acceptability. This review also describes and compares existing commercial products encompassing activity trackers tailored for older adults, thus providing a comprehensive outlook of the status of commercially available motion tracking systems. Finally, the impact of wearable devices on life and health insurance companies, with a description of the potential benefits for the industry and the wearables market, was analyzed as an example of the potential emerging market drivers for such technology in the future.

  1. A Review of Activity Trackers for Senior Citizens: Research Perspectives, Commercial Landscape and the Role of the Insurance Industry.

    Science.gov (United States)

    Tedesco, Salvatore; Barton, John; O'Flynn, Brendan

    2017-06-03

    The objective assessment of physical activity levels through wearable inertial-based motion detectors for the automatic, continuous and long-term monitoring of people in free-living environments is a well-known research area in the literature. However, their application to older adults can present particular constraints. This paper reviews the adoption of wearable devices in senior citizens by describing various researches for monitoring physical activity indicators, such as energy expenditure, posture transitions, activity classification, fall detection and prediction, gait and balance analysis, also by adopting consumer-grade fitness trackers with the associated limitations regarding acceptability. This review also describes and compares existing commercial products encompassing activity trackers tailored for older adults, thus providing a comprehensive outlook of the status of commercially available motion tracking systems. Finally, the impact of wearable devices on life and health insurance companies, with a description of the potential benefits for the industry and the wearables market, was analyzed as an example of the potential emerging market drivers for such technology in the future.

  2. Impact and effectiveness of risk mitigation strategies on the insurability of nanomaterial production: evidences from industrial case studies.

    Science.gov (United States)

    Bergamaschi, Enrico; Murphy, Finbarr; Poland, Craig A; Mullins, Martin; Costa, Anna L; McAlea, Eamonn; Tran, Lang; Tofail, Syed A M

    2015-01-01

    Workers involved in producing nanomaterials or using nanomaterials in manufacturing plants are likely to have earlier and higher exposure to manufactured/engineered nanomaterials (ENM) than the general population. This is because both the volume handled and the probability of the effluence of 'free' nanoparticles from the handled volume are much higher during a production process than at any other stage in the lifecycle of nanomaterials and nanotechnology-enabled products. Risk assessment (RA) techniques using control banding (CB) as a framework for risk transfer represents a robust theory but further progress on implementing the model is required so that risk can be transferred to insurance companies. Following a review of RA in general and hazard measurement in particular, we subject a Structural Alert Scheme methodology to three industrial case studies using ZrO2 , TiO2 , and multi-walled carbon nanotubes (MWCNT). The materials are tested in a pristine state and in a remediated (coated) state, and the respective emission and hazard rates are tested alongside the material performance as originally designed. To our knowledge, this is the first such implementation of a CB RA in conjunction with an ENM performance test and offers both manufacturers and underwriters an insight into future applications. © 2015 The Authors. WIREs Nanomedicine and Nanobiotechnology published by Wiley Periodicals, Inc.

  3. A Review of Activity Trackers for Senior Citizens: Research Perspectives, Commercial Landscape and the Role of the Insurance Industry

    Science.gov (United States)

    Tedesco, Salvatore; Barton, John; O’Flynn, Brendan

    2017-01-01

    The objective assessment of physical activity levels through wearable inertial-based motion detectors for the automatic, continuous and long-term monitoring of people in free-living environments is a well-known research area in the literature. However, their application to older adults can present particular constraints. This paper reviews the adoption of wearable devices in senior citizens by describing various researches for monitoring physical activity indicators, such as energy expenditure, posture transitions, activity classification, fall detection and prediction, gait and balance analysis, also by adopting consumer-grade fitness trackers with the associated limitations regarding acceptability. This review also describes and compares existing commercial products encompassing activity trackers tailored for older adults, thus providing a comprehensive outlook of the status of commercially available motion tracking systems. Finally, the impact of wearable devices on life and health insurance companies, with a description of the potential benefits for the industry and the wearables market, was analyzed as an example of the potential emerging market drivers for such technology in the future. PMID:28587188

  4. 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...

  5. Role of nuclear insurance in US

    International Nuclear Information System (INIS)

    Bardes, C.R.

    2000-01-01

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

  6. Statistical tools for non-life insurance

    NARCIS (Netherlands)

    Antonio, K.

    2008-01-01

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

  7. 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…

  8. 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...

  9. 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.

  10. 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.

  11. How fair are fair values? A comparison for cross-listed financial companies

    OpenAIRE

    Marian Berden; Franka Liedorp

    2006-01-01

    Fair value accounting and IAS 39 are at the core of a debate between regulators, institutions and supervisors. We add to this debate at a conceptual and empirical level. First we discuss the advantages and disadvantages of fair values for banks and insurance companies. Then we explore the differences between fair values and book values and the implications thereof based on a group of institutions with a listing on a stock exchange in both the home country (on book value) and the US (on fair v...

  12. 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.

  13. 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

  14. Towards a Fair Global Economic Regime?

    DEFF Research Database (Denmark)

    Staricco, Juan Ignacio

    . The further exploration of Fair Trade’s political and ideological dimensions sheds light on the reasons behind the system’s current limitations. The analysis shows that Fair Trade offers very limited improvements compared to the conventional economy. Additionally, for the Argentinean wine industry, Fair Trade......This dissertation offers an assessment of Fair Trade’s transformative potential through an empirical examination of the case of Fair Trade wine produced in Argentina and consumed in the United Kingdom. Guided by a dialectical understanding of the research process, the analysis is done at various...

  15. 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)

  16. 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...

  17. 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.

  18. 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...

  19. 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.

  20. 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…

  1. Validity and Fairness

    Science.gov (United States)

    Kane, Michael

    2010-01-01

    This paper presents the author's critique on Xiaoming Xi's article, "How do we go about investigating test fairness?," which lays out a broad framework for studying fairness as comparable validity across groups within the population of interest. Xi proposes to develop a fairness argument that would identify and evaluate potential fairness-based…

  2. Estimating Total Claim Size in the Auto Insurance Industry: a Comparison between Tweedie and Zero-Adjusted Inverse Gaussian Distribution

    Directory of Open Access Journals (Sweden)

    Adriana Bruscato Bortoluzzo

    2011-01-01

    Full Text Available The objective of this article is to estimate insurance claims from an auto dataset using the Tweedie and zero-adjusted inverse Gaussian (ZAIG methods. We identify factors that influence claim size and probability, and compare the results of these methods which both forecast outcomes accurately. Vehicle characteristics like territory, age, origin and type distinctly influence claim size and probability. This distinct impact is not always present in the Tweedie estimated model. Auto insurers should consider estimating total claim size using both the Tweedie and ZAIG methods. This allows for an estimation of confidence interval based on empirical quantiles using bootstrap simulation. Furthermore, the fitted models may be useful in developing a strategy to obtain premium pricing.

  3. Are the FAIR Data Principles Fair?

    OpenAIRE

    Dunning, Alastair; de Smaele, Madeleine; Boehmer, Jasmin

    2017-01-01

    Presentation given at IDCC17 about FAIR data research done by Research Data Services of TU Delft, on 22nd February 2018. Relates to practice paper: Dunning, Alastair, de Smaele, Madeleine, & Böhmer, Jasmin. (2017, January 31). Are the FAIR Data Principles fair?. Zenodo. http://doi.org/10.5281/zenodo.321423  Relates to data-set: Dunning, A.C. (Alastair); de Smaele, M.M.E. (Madeleine); Böhmer, J.K. (Jasmin) (2017) Evaluation of data repositories based on the FAIR Principles for ...

  4. 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)

  5. 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.

  6. 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.

  7. 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.

  8. Examples Not Numbers: Using Historical Events To Present Regional Hazard Information And Stimulate Client Thinking In The Insurance Industry

    Science.gov (United States)

    Pile, J.; Switzer, A.; Gouramanis, C.; Rush, B.; Reynolds, I.; Ryrie, S.; Soria, L.

    2013-12-01

    Coastal hazards, including tsunami and storm surges, periodically affect many of the world's coasts. Re-insurers and insurance companies use a variety of means to understand and quantify the recurrence interval and risk of such events. Such work is done with the primary aim of placing monetary values on the risk. This collective understanding is often gleaned from the available scientific literature and commonly makes use of maps to delineate areas of risk that assist in communicating risk with clients. In this study we approached the problem of producing an integrated map of coastal hazards (storm and tsunami) for much of southeast Asia (including the Bay of Bengal and northern Australia). Initial analysis showed that assessments based on the short, partial and, for the most part, fragmentary documented history of past events in southeast Asia, would deem almost every coast on the map at high risk of coastal hazards at the regional scale. Although this may be true to a certain extent it would be unjust and unscientific to label entire coastlines 'high risk' as clearly particular sites on any coast are more susceptible to coastal hazards at the local scale. This raises the question: What is the best way to communicate risk at a regional scale without broad generalisations? Our recent collaboration with a major re-insurer lead to the creation of a new form of map (poster) for their clientele using a case study approach aimed at getting clients to think about the details of historical events in the context of localised risk. Using the pedagogical premise of 'Concept, Example, Consequence', we highlight risk in a way that will hopefully stimulate thought among practitioners and provide an alternative to the broad generalizations found in many products in the marketplace. The envisaged outcome is to enhance communication of site-specific risk assessments between stakeholders and encourage a better understanding of localised and regional risk.

  9. 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

  10. 1, 2, 3 ... FAIR !

    International Nuclear Information System (INIS)

    Sturm, C.; Sharkov, B.; Stoecker, H.

    2010-01-01

    The Facility for Antiproton and Ion Research FAIR at Darmstadt/Germany will provide worldwide unique accelerator and experimental facilities allowing for a large variety of unprecedented forefront research in hadron, nuclear, atomic and plasma physics and applied sciences. The start version of FAIR, the so called Modularized Start Version includes a basic accelerator as well as three experimental modules - 1, 2, 3 FAIR!

  11. 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 ...

  12. 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

  13. Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States

    NARCIS (Netherlands)

    Parente, R.; Choi, B.P.; Slangen, A.H.L.; Ketkar, S.

    2010-01-01

    Service firms play an increasingly important role in the global economy. However, the internationalization strategies of such firms, and especially their distribution system choices, have been underexplored in the international management literature. One specific service industry that has

  14. 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

  15. 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

  16. 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.

  17. Medicaid and Children's Health Insurance Programs: essential health benefits in alternative benefit plans, eligibility notices, fair hearing and appeal processes, and premiums and cost sharing; exchanges: eligibility and enrollment. Final rule.

    Science.gov (United States)

    2013-07-15

    This final rule implements provisions of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively referred to as the Affordable Care Act. This final rule finalizes new Medicaid eligibility provisions; finalizes changes related to electronic Medicaid and the Children's Health Insurance Program (CHIP) eligibility notices and delegation of appeals; modernizes and streamlines existing Medicaid eligibility rules; revises CHIP rules relating to the substitution of coverage to improve the coordination of CHIP coverage with other coverage; and amends requirements for benchmark and benchmark-equivalent benefit packages consistent with sections 1937 of the Social Security Act (which we refer to as ``alternative benefit plans'') to ensure that these benefit packages include essential health benefits and meet certain other minimum standards. This rule also implements specific provisions including those related to authorized representatives, notices, and verification of eligibility for qualifying coverage in an eligible employer-sponsored plan for Affordable Insurance Exchanges. This rule also updates and simplifies the complex Medicaid premium and cost sharing requirements, to promote the most effective use of services, and to assist states in identifying cost sharing flexibilities. It includes transition policies for 2014 as applicable.

  18. 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.

  19. 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.

  20. 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...

  1. Assessing the impact of space weather on the electric power grid based on insurance claims for industrial electrical equipment

    Science.gov (United States)

    Schrijver, C. J.; Dobbins, R.; Murtagh, W.; Petrinec, S. M.

    2014-07-01

    Geomagnetically induced currents are known to induce disturbances in the electric power grid. Here we perform a statistical analysis of 11,242 insurance claims from 2000 through 2010 for equipment losses and related business interruptions in North American commercial organizations that are associated with damage to, or malfunction of, electrical and electronic equipment. We find that claim rates are elevated on days with elevated geomagnetic activity by approximately 20% for the top 5% and by about 10% for the top third of most active days ranked by daily maximum variability of the geomagnetic field. When focusing on the claims explicitly attributed to electrical surges (amounting to more than half the total sample), we find that the dependence of claim rates on geomagnetic activity mirrors that of major disturbances in the U.S. high-voltage electric power grid. The claim statistics thus reveal that large-scale geomagnetic variability couples into the low-voltage power distribution network and that related power-quality variations can cause malfunctions and failures in electrical and electronic devices that, in turn, lead to an estimated 500 claims per average year within North America. We discuss the possible magnitude of the full economic impact associated with quality variations in electrical power associated with space weather.

  2. Fairness and nanotechnology concern.

    Science.gov (United States)

    McComas, Katherine A; Besley, John C

    2011-11-01

    Research suggests that fairness perceptions matter to people who are asked to evaluate the acceptability of risks or risk management. Two separate national random surveys (n = 305 and n = 529) addressed Americans' concerns about and acceptance of nanotechnology risk management in the context of the degree to which they view scientists and risk managers as fair. The first survey investigated general views about scientists across four proposed dimensions of fairness (distributional, procedural, interpersonal, and informational). The results show that respondents who believe that the outcomes of scientific research tend to result in unequal benefits (distributional fairness) and that the procedures meant to protect the public from scientific research are biased (procedural fairness) were more concerned about nanotechnology. Believing scientists would treat them with respect (interpersonal fairness) and ensure access to information (informational fairness) were not significant predictors of concern. The second study also looked at these four dimensions of fairness but focused on perceptions of risk managers working for government, universities, and major companies. In addition to concern, it also examined acceptance of nanotechnology risk management. Study 2 results were similar to those of study 1 for concern; however, only perceived informational fairness consistently predicted acceptance of nanotechnology risk management. Overall, the study points to the value of considering fairness perceptions in the study of public perceptions of nanotechnology. © 2011 Society for Risk Analysis.

  3. Optimal bank portfolio choice under fixed-rate deposit insurance

    OpenAIRE

    Anlong Li

    1991-01-01

    An analysis of the investment decisions of a bank whose deposits are fully insured under fixed-rate insurance, showing how banks dynamically adjust their investment portfolios in response to market information and how this flexibility affects both investment decisions and the fair cost of deposit insurance.

  4. 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.

  5. Unmanaged care: towards moral fairness in health care coverage.

    Science.gov (United States)

    Hoffman, Sharona

    2003-01-01

    Health insurers are generally guided by the principle of "actuarial fairness," according to which they distinguish among various risks on the basis of cost-related factors. Thus, insurers often limit or deny coverage for vision care, hearing aids, mental health care, and even AIDS treatment based on actuarial justifications. Furthermore, approximately forty-two million Americans have no health insurance at all, because most of these individuals cannot afford the cost of insurance. This Article argues that Americans have come to demand more than actuarial fairness from health insurers and are increasingly concerned by what I call "moral fairness." This is evidenced by the hundreds of laws that have been passed to constrain insurers' discretion with respect to particular coverage decisions. Legislative mandates are frequent, but seemingly haphazard, following no systematic methodology. This Article suggests an analytical framework that can be utilized to determine which interventions are appropriate and evaluates a variety of means by which moral fairness could be promoted in the arena of health care coverage.

  6. 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.

  7. 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.

  8. The influence of mobile internet on advertising to consumers in the short–term insurance industry / by Shandukani A. Davhana

    OpenAIRE

    Davhana, Shandukani Albert

    2009-01-01

    Marketing and advertisement activities are transforming as new digital media streams emerge. It is believed that the first major digital transition took place when broadcast media such as television and cinema, also called first screen, to the PC Internet, referred to as the second screen, entered the media industry. The last couple of years saw an expanding transition into the third screen, which is the mobile handset, commonly known as cellphones in South Africa. The rapid explosion of m...

  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. Creating New Incentives for Risk Identification and Insurance Process for the Electric Utility Industry (initial award through Award Modification 2); Energy & Risk Transfer Assessment (Award Modifications 3 - 6)

    Energy Technology Data Exchange (ETDEWEB)

    Michael Ebert

    2008-02-28

    This is the final report for the DOE-NETL grant entitled 'Creating New Incentives for Risk Identification & Insurance Processes for the Electric Utility Industry' and later, 'Energy & Risk Transfer Assessment'. It reflects work done on projects from 15 August 2004 to 29 February 2008. Projects were on a variety of topics, including commercial insurance for electrical utilities, the Electrical Reliability Organization, cost recovery by Gulf State electrical utilities after major hurricanes, and review of state energy emergency plans. This Final Technical Report documents and summarizes all work performed during the award period, which in this case is from 15 August 2004 (date of notification of original award) through 29 February 2008. This report presents this information in a comprehensive, integrated fashion that clearly shows a logical and synergistic research trajectory, and is augmented with findings and conclusions drawn from the research as a whole. Four major research projects were undertaken and completed during the 42 month period of activities conducted and funded by the award; these are: (1) Creating New Incentives for Risk Identification and Insurance Process for the Electric Utility Industry (also referred to as the 'commercial insurance' research). Three major deliverables were produced: a pre-conference white paper, a two-day facilitated stakeholders workshop conducted at George Mason University, and a post-workshop report with findings and recommendations. All deliverables from this work are published on the CIP website at http://cipp.gmu.edu/projects/DoE-NETL-2005.php. (2) The New Electric Reliability Organization (ERO): an examination of critical issues associated with governance, standards development and implementation, and jurisdiction (also referred to as the 'ERO study'). Four major deliverables were produced: a series of preliminary memoranda for the staff of the Office of Electricity Delivery and

  11. 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.

  12. Madisonian Fair Use

    OpenAIRE

    Madison, Michael

    2017-01-01

    This short essay reflects on developments in the law, scholarship, and practice of fair use since the publication in 2004 of an earlier article on patterns in fair use practice and adjudication. It synthesizes many of those developments in the idea of “Madisonian” fair use, borrowing the separation of powers metaphor from James Madison’s work on the US Constitution and applying it, lightly and in a preliminary way, to copyright.

  13. Fair market value

    International Nuclear Information System (INIS)

    Williams, J.

    1991-01-01

    This paper presents an examination of fair market value concepts as they pertain to producing petroleum properties. conventional petroleum economic theories of fair market value are examined in light of recent work on the market value of long-life reserves. Their work is expanded to show that sellers rely on comparable sales data for estimating FMV. Both results are used to suggest that current practices over-emphasize the discounted cash flow approach to estimating fair market value

  14. TAXATION. FAIRNESS. EQUALITY

    Directory of Open Access Journals (Sweden)

    Morar Ioan Dan

    2014-12-01

    of the tax burden between them, depending on how the tax base, depending on the type of taxpayer and according to other criteria. Another coordinated taxation is part of contemporary consumerist polticilor new tax, taxing certain income, especially income individuals is marked by the overall objective of capitalist society, that consumption growth. Fiscal policies are policies the new contemporary consumerism. And this phenomenon influences the distribution of the tax burden among taxpayers, more or less fair. What is tax fairness and how we can quantify? Here's a question that I try to raspunt from equality before the law tax payers. Equality before the tax law is not a primary goal of modern tax policy, it losing ground to tax efficiency goals and its economic and social components. On the other hand though fiscal phenomenon can help to ensure social peace through taxation to keep Sean absolute size of the tax burden and the fact that all are equal before the law, tax law and within given social policies in broadly, social security or insurance in respect restrains can be promoted by themselves and less by fiscal policy.

  15. Free riders play fair

    OpenAIRE

    Takikawa, Hirohide

    2012-01-01

    After the demise of the social contract theory, the argument from fair play, which employs the principle of fair play, has been widely acknowledged as one of the most promising ways of justifying political obligation. First, I articulate the most promising version of the principle of fair play. Then, I show that free riders play fair, that is, that their moral fault lies not in unfairness but in the violation of a rule by appealing to the example of three-in-a-boat. Finally, I conclude that e...

  16. 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

  17. 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...

  18. Fair Trade - is it really fair?

    Czech Academy of Sciences Publication Activity Database

    Konečný, Tomáš; Mysliveček, Jan

    -, č. 367 (2008), s. 1-53 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : Fair Trade * coffee * price setting Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp367.pdf

  19. Starbucks's Fair Trade in the Edge of Globalization

    OpenAIRE

    Rizqiyanto, Saomi

    2017-01-01

    Starbucks as a global company that reflect American values plays an important role in the trade of coffee industry. In February 2000, Starbucks partially adopted the Fair Trade and in early 2001 Starbucks fully adopt Fair Trade. This research seeks to examine the relationship between Starbucks as a symbol of globalization with Starbucks as a global corporation who adopt Fair Trade. This study also seeks to explain how any practical Starbucks Fair Trade as a whole and uncover the reasons behin...

  20. 'Nuclex 75'. Preview of the technical fair

    International Nuclear Information System (INIS)

    Anon.

    1975-01-01

    The 'Nuclex 75' - fourth international technical fair and specialist meetings for the nuclear industry - takes place from the 7th to the 11th October 1975 in the halls of the Schweizer Mustermesse in Basel. The meeting, which has taken place at three-yearly intervals since 1966, is divided into a technical fair and a congress. 422 exhibitors from 25 countries take part in the 'Nuclex 75'. Several industrial countries are again represented by communal exhibitions. The editorial office of 'Atom and Electricity' gives a few hints on the technical fair to follow which are based on the papers of the exhibitor sent in up to the editor's closing date. A detailed report on the technical fair as well as on important topics of the congress will appear in volume 11/12 1975. (orig./LH) [de

  1. 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)

  2. Fairness is intuitive

    DEFF Research Database (Denmark)

    Cappelen, Alexander W.; Panton, Ulrik Haagen; Tungodden, Bertil

    2016-01-01

    In this paper we provide new evidence showing that fair behavior is intuitive to most people. We find a strong association between a short response time and fair behavior in the dictator game. This association is robust to controls that take account of the fact that response time might be affected...

  3. Fair Package Assignment

    Science.gov (United States)

    Lahaie, Sébastien; Parkes, David C.

    We consider the problem of fair allocation in the package assignment model, where a set of indivisible items, held by single seller, must be efficiently allocated to agents with quasi-linear utilities. A fair assignment is one that is efficient and envy-free. We consider a model where bidders have superadditive valuations, meaning that items are pure complements. Our central result is that core outcomes are fair and even coalition-fair over this domain, while fair distributions may not even exist for general valuations. Of relevance to auction design, we also establish that the core is equivalent to the set of anonymous-price competitive equilibria, and that superadditive valuations are a maximal domain that guarantees the existence of anonymous-price competitive equilibrium. Our results are analogs of core equivalence results for linear prices in the standard assignment model, and for nonlinear, non-anonymous prices in the package assignment model with general valuations.

  4. Blanket guarantee, deposit insurance, and risk-shifting incentive: evidence from Indonesia

    OpenAIRE

    Kariastanto, Bayu

    2011-01-01

    Indonesia established a deposit insurance system to maintain stability in its banking sector after the abolishment of blanket guarantees in 2005. Since the insurance premiums are fixed and flat, deposit insurance may create an incentive for banks to take more risks and transfer the risks to the deposit insurer. Using an option pricing based model of deposit insurance, we compute the fair deposit insurance premiums for all banks listed on the Indonesian stock exchange. We find evidence that ba...

  5. 48 CFR 728.313 - Contract clauses for insurance of transportation or transportation-related services.

    Science.gov (United States)

    2010-10-01

    ...) USAID is required by law to include language in all its direct contracts and subcontracts ensuring that all U.S. marine insurance companies have a fair opportunity to bid for marine insurance when such...

  6. School Insurance.

    Science.gov (United States)

    1964

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

  7. Forest insurance

    Science.gov (United States)

    Ellis T. Williams

    1949-01-01

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

  8. The economic value of fair use in copyright law: counterfactual impact analysis of fair use policy on private copying technology and copyright markets in Singapore

    OpenAIRE

    Ghafele, Roya; Gibert, Benjamin

    2012-01-01

    The counterfactual impact analysis of fair use amendments in Singapore undertaken here demonstrates that flexible fair use policy positively influences growth rates in private copying technology industries. In 2010, five years after the policy intervention, Singapore’s fair use amendments are correlated with a 3.33% increase in value-added (as % of GDP) for private copying technology industries. Prior to the amendment of fair use policies, private copying technology industries experienced - 1...

  9. 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

  10. On fairness and randomness

    DEFF Research Database (Denmark)

    Jaeger, Manfred

    2009-01-01

    We investigate the relation between the behavior of non-deterministic systems under fairness constraints, and the behavior of probabilistic systems. To this end, first a framework based on computable stopping strategies is developed that provides a common foundation for describing both fair...... this perspective the question is investigated what probabilistic properties are needed in such an implementation to guarantee (with probability one) certain required fairness properties in the behavior of the probabilistic system. Generalizing earlier concepts of ε -bounded transition probabilities, we introduce...

  11. Physics at FAIR

    International Nuclear Information System (INIS)

    Chattopadhyay, Subhasis

    2014-01-01

    The Facility for Antiproton and Ion Research (FAIR) is under construction at Darmstadt, Germany. It will deliver high intensity beams of ions and antiprotons for experiments in the fields of atomic physics, plasma physics, nuclear physics, hadron physics, nuclear matter physics, material physics and biophysics. One of the scientific pillars of FAIR is the Compressed Baryonic Matter (CBM) experiment which is designed for the study of high density nuclear matter as it exists in the core of neutron stars. In this article the scientific program of FAIR will be reviewed with emphasis on the CBM experiment

  12. 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.)

  13. 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.

  14. Indian participation in FAIR accelerator facility

    International Nuclear Information System (INIS)

    Sur, Amitava

    2015-01-01

    India is a founder member of the FAIR-GmbH, the upcoming International Accelerator Facility at Darmstadt, Germany. Indian participation at FAIR is being funded jointly by the Department of Science and Technology (DST) and the Department of Atomic Energy (DAE). Indo- FAIR Coordination Centre at Bose Institute (BI-IFCC) is coordinating the Indian efforts of both in-kind contribution as well as experimental programmes at FAIR. FAIR aims for beams of stable and unstable nuclei as well as antiprotons in a wide range of intensities and energies. A superconducting double-synchrotron SIS100/300 with a circumference of 1,100 meters and with magnetic rigidities of 100 and 300 Tm, respectively, is at the heart of the FAIR accelerator facility. The existing GSI accelerators UNILAC and SIS18 will serve as an injector. Adjacent to the large double- synchrotron is a complex system of storage- cooler rings and experiment stations, including a superconducting nuclear fragment separator (Super-FRS) and an antiproton production target. FAIR will supply rare isotope beams (RIBs) and antiproton beams. In FAIR accelerator facility up to four research programs can be run in a parallel mode. The multidisciplinary research program covers the fields of QCD studies with cooled beams of antiprotons, nucleus nucleus collisions at highest baryon density, nuclear structure and nuclear astrophysics investigations with nuclei far off stability, high density plasma physics, atomic and material science studies, radio-biological and other application-oriented studies will contribute in providing in-kind items both for the accelerator and the experiments. As per current plans Indian in kind contributions include: Power Converters, Superconducting Magnets, Beam Stopper, Vacuum Chamber. A short sample from an Indian Industry has been tested successfully at FAIR. Indian participation in building the accelerator components for FAIR is presented

  15. 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

  16. Computational Fair Division

    DEFF Research Database (Denmark)

    Branzei, Simina

    Fair division is a fundamental problem in economic theory and one of the oldest questions faced through the history of human society. The high level scenario is that of several participants having to divide a collection of resources such that everyone is satisfied with their allocation -- e.g. two...... heirs dividing a car, house, and piece of land inherited. The literature on fair division was developed in the 20th century in mathematics and economics, but computational work on fair division is still sparse. This thesis can be seen as an excursion in computational fair division divided in two parts....... The first part tackles the cake cutting problem, where the cake is a metaphor for a heterogeneous divisible resource such as land, time, mineral deposits, and computer memory. We study the equilibria of classical protocols and design an algorithmic framework for reasoning about their game theoretic...

  17. Vehicle underbody fairing

    Science.gov (United States)

    Ortega, Jason M.; Salari, Kambiz; McCallen, Rose

    2010-11-09

    A vehicle underbody fairing apparatus for reducing aerodynamic drag caused by a vehicle wheel assembly, by reducing the size of a recirculation zone formed under the vehicle body immediately downstream of the vehicle wheel assembly. The fairing body has a tapered aerodynamic surface that extends from a front end to a rear end of the fairing body with a substantially U-shaped cross-section that tapers in both height and width. Fasteners or other mounting devices secure the fairing body to an underside surface of the vehicle body, so that the front end is immediately downstream of the vehicle wheel assembly and a bottom section of the tapered aerodynamic surface rises towards the underside surface as it extends in a downstream direction.

  18. Customizing Fair Use Transplants

    Directory of Open Access Journals (Sweden)

    Peter K. Yu

    2018-02-01

    Full Text Available In the past decade, policymakers and commentators across the world have called for the introduction of copyright reform based on the fair use model in the United States. Thus far, Israel, Liberia, Malaysia, the Philippines, Singapore, South Korea, Sri Lanka and Taiwan have adopted the fair use regime or its close variants. Other jurisdictions such as Australia, Hong Kong and Ireland have also advanced proposals to facilitate such adoption. This article examines the increasing efforts to transplant fair use into the copyright system based on the U.S. model. It begins by briefly recapturing the strengths and weaknesses of legal transplants. The article then scrutinizes the ongoing effort to transplant fair use from the United States. Specifically, it identifies eight modalities of transplantation. This article concludes with five lessons that can be drawn from studying the ongoing transplant efforts.

  19. Is Equality Fair?

    Directory of Open Access Journals (Sweden)

    Arthur Tarasov

    2015-11-01

    Full Text Available This paper attempts to answer the question whether people consider decisions that lead to equal outcomes fair. I find that this is not always the case. In an experiment where subjects are given equal opportunities to choose how to divide money between each other in a two-player game, any strategy is perceived to be fair more than half the time, including the profit-maximizing strategy. The equal divisions that lead to equal outcomes are sometimes considered unfair by both players. Moreover, players frequently punished the others, whose decisions led to equal outcomes. I hypothesize that such punishments occur because people have different conceptions of what a fair outcome and fair punishment are

  20. Fair weather atmospheric electricity

    International Nuclear Information System (INIS)

    Harrison, R G

    2011-01-01

    Not long after Franklin's iconic studies, an atmospheric electric field was discovered in 'fair weather' regions, well away from thunderstorms. The origin of the fair weather field was sought by Lord Kelvin, through development of electrostatic instrumentation and early data logging techniques, but was ultimately explained through the global circuit model of C.T.R. Wilson. In Wilson's model, charge exchanged by disturbed weather electrifies the ionosphere, and returns via a small vertical current density in fair weather regions. New insights into the relevance of fair weather atmospheric electricity to terrestrial and planetary atmospheres are now emerging. For example, there is a possible role of the global circuit current density in atmospheric processes, such as cloud formation. Beyond natural atmospheric processes, a novel practical application is the use of early atmospheric electrostatic investigations to provide quantitative information on past urban air pollution.

  1. 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.

  2. GasFair/PowerFair/EnergyUser '98 : Presentations

    International Nuclear Information System (INIS)

    1998-01-01

    Papers presented at three conferences, reviewing recent activities in the natural gas and electric power industries and matters of concern to energy consumers in North America are contained on this single CD-ROM. Seven presentations relate to the natural gas industry, nine to electric power generation and transmission, and ten to a wide range of topics dealing with various concerns relating to the environment, financial and cost management aspects of energy utilization. Speakers at the GasFair sessions discussed recent developments in natural gas supply, marketing, purchasing, risk management and the impact of energy convergence on natural gas. Presentations at the PowerFair segment dealt with issues in electricity deregulation, supply and financing, purchasing and marketing. Issues discussed at the EnergyUser sessions included presentations dealing with ways to save costs with energy technology and integrated services, environmental performance contracting and engineering and energy cost control. The CD-ROM also contains the summary of a round table discussion and five individual presentations made at the Natural Gas Pipeline Forum. This pre-conference institute dealt with the likely effects of new pipelines and pipeline extensions on North American natural gas consumers. . tabs., figs

  3. 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

  4. The FAIR proton linac

    International Nuclear Information System (INIS)

    Kester, O.

    2015-01-01

    FAIR - the Facility for Antiproton and Ion Research in Europe - constructed at GSI in Darmstadt comprises an international centre of heavy ion accelerators that will drive heavy ion and antimatter research. FAIR will provide worldwide unique accelerator and experimental facilities, allowing a large variety of fore-front research in physics and applied science. FAIR will deliver antiproton and ion beams of unprecedented intensities and qualities. The main part of the FAIR facility is a sophisticated accelerator system, which delivers beams to different experiments of the FAIR experimental collaborations - APPA, NuSTAR, CBM and PANDA - in parallel. Modern H-type cavities offer highest shunt impedances of resonant structures of heavy ion linacs at low beam energies < 20 MeV/u and enable the acceleration of intense proton and ion beams. One example is the interdigital H-type structure. The crossed-bar H-cavities extend these properties to high energies even beyond 100 MeV/u. Compared to conventional Alvarez cavities, these crossed-bar (CH) cavities feature much higher shunt impedance at low energies. The design of the proton linac is based on those cavities

  5. 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...

  6. 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...

  7. 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...

  8. Incentives in the insurance industry

    NARCIS (Netherlands)

    Gorter, Jan Kornelis

    2013-01-01

    Positieve invloed provisieverbod op advieskwaliteit twijfelachtig Vanwege zorgen over de prikkelwerking van provisies is in Nederland een provisieverbod ingesteld voor complexe financiële producten (zoals hypotheken, levensverzekeringen en arbeidsongeschiktheidsverzekeringen). Bij dergelijke

  9. Developing fair compensation structures

    International Nuclear Information System (INIS)

    Trousdale, W.J.

    1998-01-01

    The issue of finding an effective way to incorporate Aboriginal values into the process of developing fair compensation structures was discussed. This paper discusses pricing intangible values using dollars, but it was emphasized that 'values' are whatever are important to us. Therefore, in order to achieve fair compensation, creative alternatives that are value-focused should be pursued. In addition to the more straight-forward monetary compensation, compensation could also be about avoiding losses, mitigating adverse impacts, achieving better communication, and promoting cultural understanding. 25 refs., 2 tabs

  10. The FAIR start

    International Nuclear Information System (INIS)

    Stoecker, H.; Sturm, C.

    2011-01-01

    At the 4th of October 2010 nine countries signed the international agreement on the construction of the Facility for Antiproton and Ion Research, FAIR. Adjacent to the existing accelerator complex of the GSI Helmholtz Centre for Heavy Ion Research at Darmstadt/Germany, FAIR substantially expands research goals and technical possibilities. It will provide worldwide unique accelerator and experimental facilities allowing for a large variety of unprecedented fore-front research in hadron, nuclear, atomic and plasma physics as well as applied sciences which will be described in this article briefly.

  11. Nuclear insurance

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

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

  12. 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...

  13. Inflation Insurance

    OpenAIRE

    Zvi Bodie

    1989-01-01

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

  14. Fairness Doctrine in Advertising.

    Science.gov (United States)

    Martin, Charles Vance

    After a decade of debate, numerous Federal Communications Commission (FCC) rulings, and many court decisions, the application of the "fairness doctrine"--an act that mandates objectivity in the presentation of facts concerning controversial issues--remains unsettled. This report discusses issues involved in the application of the…

  15. Contract law as fairness

    NARCIS (Netherlands)

    Klijnsma, J.

    2015-01-01

    This article examines the implications for contract law of Rawls' theory of justice as fairness. It argues that contract law as an institution is part of the basic structure of society and as such subject to the principles of justice. Discussing the basic structure in relation to contract law is

  16. Fair quantum blind signatures

    International Nuclear Information System (INIS)

    Tian-Yin, Wang; Qiao-Yan, Wen

    2010-01-01

    We present a new fair blind signature scheme based on the fundamental properties of quantum mechanics. In addition, we analyse the security of this scheme, and show that it is not possible to forge valid blind signatures. Moreover, comparisons between this scheme and public key blind signature schemes are also discussed. (general)

  17. 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.

  18. 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)

  19. 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.

  20. 46 CFR 252.33 - Hull and machinery insurance.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Hull and machinery insurance. 252.33 Section 252.33... Subsidy Rates § 252.33 Hull and machinery insurance. (a) Subsidy items. The fair and reasonable net premium costs (including stamp taxes) of hull and machinery, increased value, excess general average...

  1. 46 CFR 282.23 - Hull and machinery insurance.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Hull and machinery insurance. 282.23 Section 282.23... COMMERCE OF THE UNITED STATES Calculation of Subsidy Rates § 282.23 Hull and machinery insurance. (a) Subsidy items. The fair and reasonable net premium costs (including stamp taxes) of hull and machinery...

  2. Health insurance and the demand for medical care.

    Science.gov (United States)

    de Meza, D

    1983-03-01

    With rare exceptions the provision of actuarially fair health insurance tends to substantially increase the demand for medical care by redistributing income from the healthy to the sick. This suggests that previous studies which attribute all the extra demand for medical care to moral hazard effects may overestimate the efficiency costs of health insurance.

  3. Fair Trade Flowers: Global Certification, Environmental Sustainability, and Labor Standards

    Science.gov (United States)

    Raynolds, Laura T.

    2012-01-01

    This article analyzes the organization of the fair trade flower industry, integration of Ecuadorian enterprises into these networks, and power of certification to address key environmental and social concerns on participating estates. Pursuing a social regulatory approach, I locate fair trade within the field of new institutions that establish and…

  4. Fair value enrichment pricing: is it fair

    International Nuclear Information System (INIS)

    1978-01-01

    The Atomic Energy Act of 1954, as amended (Public Law 83-702), requires the Department of Energy to recover all costs for its enrichment activities over a reasonable period of time. The proposed legislation would allow the Department to recover its costs plus a percentage of these costs. Six major factors are examined to determine whether the legislation should be adopted: What effect will the legislation have on the prices paid by ultimate consumers of electricity; will the increase in price resulting from the legislation help promote the establishment of a private uranium enrichment industry; how will the price increase impact on the administration's nuclear non-proliferation goals; what additional revenues will be generated from domestic and foreign customers; should the United States continue to perpetuate a subsidy to the U.S. nuclear industry; what effect, if any, will the new price have on the U.S. supply and demand situation for energy

  5. Good Faith in Life Insurance Contract by Indonesian Court

    Directory of Open Access Journals (Sweden)

    Mokhamad Khoirul Huda

    2017-03-01

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

  6. Industry

    International Nuclear Information System (INIS)

    Schindler, I.; Wiesenberger, H.

    2001-01-01

    This chapter of the environmental control report deals with the environmental impact of the industry in Austria. It gives a review of the structure and types of the industry, the legal framework and environmental policy of industrial relevance. The environmental situation of the industry in Austria is analyzed in detail, concerning air pollution (SO 2 , NO x , CO 2 , CO, CH 4 , N 2 O, NH 3 , Pb, Cd, Hg, dioxin, furans), waste water, waste management and deposit, energy and water consumption. The state of the art in respect of the IPPC-directives (European Integrated Pollution Prevention and Control Bureau) concerning the best available techniques of the different industry sectors is outlined. The application of European laws and regulations in the Austrian industry is described. (a.n.)

  7. 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.

  8. 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).

  9. Hadron Physics at FAIR

    International Nuclear Information System (INIS)

    Wiedner, Ulrich

    2011-01-01

    The new FAIR facility in Darmstadt has a broad program in the field of hadron and nuclear physics utilizing ion beams with unprecedented intensity and accuracy. The hadron physics program centers around the the high-energy storage ring HESR for antiprotons and the PANDA experiment that is integrated in it. The physics program includes among others topics like hadron spectroscopy in the charmonium mass region and below, hyperon physics, electromagnetic processes and charm in nuclei.

  10. 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.

  11. PROTON MICROSCOPY AT FAIR

    International Nuclear Information System (INIS)

    Merrill, F. E.; Mariam, F. G.; Golubev, A. A.; Turtikov, V. I.; Varentsov, D.

    2009-01-01

    Proton radiography was invented in the 1990's at Los Alamos National Laboratory (LANL) as a diagnostic to study dynamic material properties under extreme pressures, strain and strain rate. Since this time hundreds of dynamic proton radiography experiments have been performed at LANL and a facility has been commissioned at the Institute for Theoretical and Experimental Physics (ITEP) in Russia for similar applications in dynamic material studies. Recently an international effort has investigated a new proton radiography capability for the study of dynamic material properties at the Facility for Anti-proton and Ion Research (FAIR) located in Darmstadt, Germany. This new Proton microscope for FAIR(PRIOR) will provide radiographic imaging of dynamic systems with unprecedented spatial, temporal and density resolution, resulting in a window for understanding dynamic material properties at new length scales. It is also proposed to install the PRIOR system at the GSI Helmholtzzentrum fuer Schwerionenforschung before installation at FAIR for dynamic experiments with different drivers including high explosives, pulsed power and lasers. The design of the proton microscope and expected radiographic performance is presented.

  12. FAIR-share

    CERN Multimedia

    2009-01-01

    Twenty-seven engineers involved in the FAIR project in Germany recently spent three days at CERN. The purpose of their visit: tour ALICE and meet with CERN engineers. This marks the start of a close cooperation. The FAIR project engineers and their CERN counterparts.If you want to build a new particle accelerator and wish to benefit from existing expertise, who do you go to see? Well… why not go straight to CERN? That’s what this group of 27 engineers did. They are working on a new accelerator project, the Facility for Antiproton and Ion Research (FAIR), to be built at the heavy-ion research centre GSI located near Darmstadt, Germany. Representing a variety of disciplines, from manufacturing to architecture, they will be responsible for making the project a reality. The visit was organised from 14-16 October, making it possible to include a tour of the ALICE experiment prior to the re-start of the LHC. However, the main goal was ...

  13. Fair trade international surrogacy.

    Science.gov (United States)

    Humbyrd, Casey

    2009-12-01

    Since the development of assisted reproductive technologies, infertile individuals have crossed borders to obtain treatments unavailable or unaffordable in their own country. Recent media coverage has focused on the outsourcing of surrogacy to developing countries, where the cost for surrogacy is significantly less than the equivalent cost in a more developed country. This paper discusses the ethical arguments against international surrogacy. The major opposition viewpoints can be broadly divided into arguments about welfare, commodification and exploitation. It is argued that the only valid objection to international surrogacy is that surrogate mothers may be exploited by being given too little compensation. However, the possibility of exploitation is a weak argument for prohibition, as employment alternatives for potential surrogate mothers may be more exploitative or more harmful than surrogacy. It is concluded that international surrogacy must be regulated, and the proposed regulatory mechanism is termed Fair Trade Surrogacy. The guidelines of Fair Trade Surrogacy focus on minimizing potential harms to all parties and ensuring fair compensation for surrogate mothers.

  14. 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.

  15. Estimating dual deposit insurance premium rates and forecasting non-performing loans: Two new models

    OpenAIRE

    Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad

    2015-01-01

    Risky banks that endanger the stability of the financial system should pay higher deposit insurance premiums than healthy banks and other financial institutions that have shown good financial performance. It is necessary, therefore, to have at least a dual fair premium rate system. In this paper, we develop a model for calculating dual fair premium rates. Our definition of a fair premium rate in this paper is a rate that could cover the operational expenditures of the deposit insuring organiz...

  16. HEALTH INSURANCE

    CERN Multimedia

    Division HR

    2000-01-01

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

  17. Export insurance

    International Nuclear Information System (INIS)

    1981-01-01

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

  18. 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

  19. HEALTH INSURANCE

    CERN Multimedia

    2000-01-01

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

  20. 78 FR 13405 - Patient Protection and Affordable Care Act; Health Insurance Market Rules; Rate Review

    Science.gov (United States)

    2013-02-27

    ... Parts 144, 147, 150, et al. Patient Protection and Affordable Care Act; Health Insurance Market Rules... Insurance Market Rules; Rate Review AGENCY: Department of Health and Human Services. ACTION: Final rule. SUMMARY: This final rule implements provisions related to fair health insurance premiums, guaranteed...

  1. An Experiment in Fair Value Accounting: UK Investment Vehicles

    OpenAIRE

    Rees, W.; Danbolt, Jo

    2008-01-01

    We use the British real estate and investment fund industries as experimentalsettings where historic cost (HC) and fair value accounting (FVA) can be compared. Both industries have the majority of their assets marked to market and hence the difference between the two accounting systems is profound. However, as the valuation of real estate is arguably more subjective than that of investment funds, we are able to contrast fair value accounting in a near ideal setting with one where it remains i...

  2. 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.

  3. Industrialization

    African Journals Online (AJOL)

    Lucy

    . African states as ... regarded as the most important ingredients that went to add value to land and labour in order for countries ... B. Sutcliffe Industry and Underdevelopment (Massachusetts Addison – Wesley Publishing Company. 1971), pp.

  4. Industrialization

    African Journals Online (AJOL)

    Lucy

    scholar, Walt W. Rostow presented and supported this line of thought in his analysis of ... A Brief Historical Background of Industrialization in Africa ... indicative) The western model allowed for the political economy to be shaped by market.

  5. Crisp Fair Gambles

    OpenAIRE

    André , Eric

    2014-01-01

    Axiomatic models of decision under ambiguity with a non-unique prior allow for the existence of Crisp Fair Gambles: acts whose expected utility is nul whichever of the priors is used. But, in these models, the DM has to be indifferent to the addition of such acts. Their existence is then at odds with a preference taking into account the variance of the prospects. In this paper we study some geometrical and topological properties of the set of priors that would rule out the existence of Crisp ...

  6. 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.

  7. CERN Book fair

    CERN Multimedia

    CERN Central Library and IT Department Bookshop

    2004-01-01

    The CERN Library, in conjunction with the IT Department Bookshop, is organizing a book fair on the 28th and 29th October. Some 15 major publishers will be represented, including 6 who will be here in person, and more than 700 of their latest titles will be on display (for sale or order). The major topics covered will be computing, physics, technology, mathematics, engineering and popular science. Those present at this event will include Alpha Science, Cambridge University Press, Elsevier, Institute of Physics, Microsoft Press, O'Reilly, OLF Switzerland, Oxford University Press, McGraw-Hill, Springer, Pearson, Thali Switzerland, Wiley, World Scientific and Ebooks Corporation. The fair will take place on the first floor of the Main Building (bldg.60), Salle des Pas Perdus, and will be open from 10.00 to 17.00 on both days. In addition, EBooks Corporation will describe their electronic book system; insight into this is available at http://www.eblib.com/ We look forward to your support for this initiative. Sh...

  8. 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

  9. 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

  10. 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.

  11. Industry

    Energy Technology Data Exchange (ETDEWEB)

    Bernstein, Lenny; Roy, Joyashree; Delhotal, K. Casey; Harnisch, Jochen; Matsuhashi, Ryuji; Price, Lynn; Tanaka, Kanako; Worrell, Ernst; Yamba, Francis; Fengqi, Zhou; de la Rue du Can, Stephane; Gielen, Dolf; Joosen, Suzanne; Konar, Manaswita; Matysek, Anna; Miner, Reid; Okazaki, Teruo; Sanders, Johan; Sheinbaum Parado, Claudia

    2007-12-01

    This chapter addresses past, ongoing, and short (to 2010) and medium-term (to 2030) future actions that can be taken to mitigate GHG emissions from the manufacturing and process industries. Globally, and in most countries, CO{sub 2} accounts for more than 90% of CO{sub 2}-eq GHG emissions from the industrial sector (Price et al., 2006; US EPA, 2006b). These CO{sub 2} emissions arise from three sources: (1) the use of fossil fuels for energy, either directly by industry for heat and power generation or indirectly in the generation of purchased electricity and steam; (2) non-energy uses of fossil fuels in chemical processing and metal smelting; and (3) non-fossil fuel sources, for example cement and lime manufacture. Industrial processes also emit other GHGs, e.g.: (1) Nitrous oxide (N{sub 2}O) is emitted as a byproduct of adipic acid, nitric acid and caprolactam production; (2) HFC-23 is emitted as a byproduct of HCFC-22 production, a refrigerant, and also used in fluoroplastics manufacture; (3) Perfluorocarbons (PFCs) are emitted as byproducts of aluminium smelting and in semiconductor manufacture; (4) Sulphur hexafluoride (SF{sub 6}) is emitted in the manufacture, use and, decommissioning of gas insulated electrical switchgear, during the production of flat screen panels and semiconductors, from magnesium die casting and other industrial applications; (5) Methane (CH{sub 4}) is emitted as a byproduct of some chemical processes; and (6) CH{sub 4} and N{sub 2}O can be emitted by food industry waste streams. Many GHG emission mitigation options have been developed for the industrial sector. They fall into three categories: operating procedures, sector-wide technologies and process-specific technologies. A sampling of these options is discussed in Sections 7.2-7.4. The short- and medium-term potential for and cost of all classes of options are discussed in Section 7.5, barriers to the application of these options are addressed in Section 7.6 and the implication of

  12. Fair market value: taking a proactive approach.

    Science.gov (United States)

    Romero, Richard A

    2008-04-01

    A valuation report assessing the fair market value of a contractual arrangement should include: A description of the company, entity, or circumstance being valued. Analysis of general economic conditions that are expected to affect the enterprise. Evaluation of economic conditions in the medical services industry. Explanation of the various valuation approaches that were considered. Documentation of key underlying assumptions, including revenue and expense projections, projected profit, and ROI.

  13. 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.

  14. Nigeria; Publication of Financial Sector Assessment Program Documentation––Detailed Assessment of Observance of Insurance Core Principles

    OpenAIRE

    International Monetary Fund

    2013-01-01

    Nigeria undertook a Financial Sector Assessment Program (FSAP), which included a review of the structure of Nigeria’s insurance market and the supervisory framework. The assessment was benchmarked against the Insurance Core Principles (ICPs) issued by the International Association of Insurance Supervisors (IAISs). It is advised that the National Insurance Commission (NAICOM) of Nigeria can expand the objective to include the creation of a fair, safe, and stable insurance sector for the benefi...

  15. Moudre ou faire bouillir ?

    OpenAIRE

    Rowlands, Mike; Fuller, Dorian Q.

    2012-01-01

    Moudre ou faire bouillir ? Nourrir les corps et les esprits dans des traditions culinaires et sacrificielles en Asie de l’Ouest, de l’Est et du Sud. Les techniques de préparation alimentaire révélées par l’archéologie pour les différentes régions d’Eurasie, incluant l’utilisation des céramiques, des meules et des plantes domestiques, mettent en évidence des situations contrastées. En Asie de l’Ouest, la mouture, la fabrication du pain et les soles de cuisson en aires ouvertes pour le rôtissag...

  16. 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.

  17. 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

  18. 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 ...

  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. 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.

  1. 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...

  2. FAIR VALUE: UTILITY AND LIMITS

    OpenAIRE

    Valentin Gabriel Cristea

    2015-01-01

    This paper presents the utility and the limits of the fair value. We believe that any new product must be tried and tested before being imposed on the market and must be accepted by all potential users and those who will be affected, directly or indirectly and its advantages, disadvantages, risks, its cost must be predetermined and analyzed in a comprehensive and objective.We ask: Do financial statements at fair value meet users' expectations? The requirement to use fair value pricing mode...

  3. Unemployment Insurance Query (UIQ)

    Data.gov (United States)

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

  4. Asset Liability Management in Insurance Company

    OpenAIRE

    Giandomenico, Rossano

    2006-01-01

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

  5. Willingness to Pay for Insurance in Denmark

    DEFF Research Database (Denmark)

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

    2016-01-01

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

  6. An experiment in fair value accounting: UK investment vehicles

    NARCIS (Netherlands)

    Danbolt, J.; Rees, W.

    2008-01-01

    We use the British real estate and investment fund industries as experimental settings where historic cost (HC) and fair value accounting (FVA) can be compared. Both industries have the majority of their assets marked to market and hence the difference between the two accounting systems is profound.

  7. Can universal access be achieved in a voluntary private health insurance market? Dutch private insurers caught between competing logics.

    Science.gov (United States)

    Vonk, Robert A A; Schut, Frederik T

    2018-05-07

    For almost a century, the Netherlands was marked by a large market for voluntary private health insurance alongside state-regulated social health insurance. Throughout this period, private health insurers tried to safeguard their position within an expanding welfare state. From an institutional logics perspective, we analyze how private health insurers tried to reconcile the tension between a competitive insurance market pressuring for selective underwriting and actuarially fair premiums (the insurance logic), and an upcoming welfare state pressuring for universal access and socially fair premiums (the welfare state logic). Based on primary sources and the extant historiography, we distinguish six periods in which the balance between both logics changed significantly. We identify various strategies employed by private insurers to reconcile the competing logics. Some of these were temporarily successful, but required measures that were incompatible with the idea of free entrepreneurship and consumer choice. We conclude that universal access can only be achieved in a competitive individual private health insurance market if this market is effectively regulated and mandatory cross-subsidies are effectively enforced. The Dutch case demonstrates that achieving universal access in a competitive private health insurance market is institutionally complex and requires broad political and societal support.

  8. 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.

  9. 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.

  10. Does market competition explain fairness?

    Science.gov (United States)

    Descioli, Peter

    2013-02-01

    The target article by Baumard et al. uses their previous model of bargaining with outside options to explain fairness and other features of human sociality. This theory implies that fairness judgments are determined by supply and demand but humans often perceive prices (divisions of surplus) in competitive markets to be unfair.

  11. Affect and fairness in economics

    NARCIS (Netherlands)

    van Winden, F.A.A.M.

    2007-01-01

    A strained relationship exists between mainstream economics and ethics. Over the last decade, behavioral economists have strongly argued for the importance of fairness in motivating behavior, based on substantial experimental evidence. Two main approaches to the modeling of fairness have been

  12. 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

  13. Starbucks’s Fair Trade in The Edge of Globalization

    Directory of Open Access Journals (Sweden)

    Saomi Rizqiyanto

    2017-07-01

    Full Text Available Starbucks as a global company that reflect American values plays an important role in the trade of coffee industry. In February 2000, Starbucks partially adopted the Fair Trade and in early 2001 Starbucks fully adopt Fair Trade. This research seeks to examine the relationship between Starbucks as a symbol of globalization with Starbucks as a global corporation who adopt Fair Trade. This study also seeks to explain how any practical Starbucks Fair Trade as a whole and uncover the reasons behind Starbucks adopt Fair Trade. The research uses a case study method and using a primary and secondary reference sources in the form of books and journals. As a results, this study indicate that Starbucks has strong reasons that ultimately makes the company adopted the Fair Trade. The adoption of Fair Trade also known as CAFE Practices is apparently not spared from criticism of the observer of Fair Trade.DOI: 10.15408/etk.v16i2.5546

  14. 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.

  15. 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 ...

  16. 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...

  17. 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 ...

  18. 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.

  19. 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.

  20. 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...

  1. Cultural Values and Overall Fairness;

    Directory of Open Access Journals (Sweden)

    Mohsen Golparvar

    2010-04-01

    Full Text Available This research conducted with the aim of investigating the relationships between overall fairness and cultural values with organizational justice, job satisfaction and turnover among the personnel of training and education administrations in Esfahan city. Statistical population were the personnel of education and training administrations regions, which 309 persons from them selected with using simple random sampling. Research instruments were overall fairness with 3 items, cultural values (in two fields including materialism and power distance with 8 items, distributive, procedural and interactional justice with 3,3,3 items respectively, job satisfaction with 3 items and turnover with 3 items. Data were analyzed with using Pearson’s correlation coefficient, structural equation modeling, moderated hierarchical regression and mediating regression analysis. Results showed that there are significant relations between overall fairness with distributive, procedural, interactional justice and turnover, job satisfaction and materialism (P0.05. The results of structural equation modeling and mediating regression analysis showed that overall fairness relatively mediate the relations between procedural justices with turnover. But there was not mediated role for overall fairness in relations between distributive and interactional fairness with turnover and job satisfaction. Moderated regression analysis showed that power distance likely have moderated role in relations between overall fairness with turnover likely.

  2. What was fair in acturial fairness?

    OpenAIRE

    Heras Martínez , Antonio José; Teira , David; Pradier , Pierre-Charles

    2016-01-01

    URL des Documents de travail : http://centredeconomiesorbonne.univ-paris1.fr/documents-de-travail-du-ces/; Documents de travail du Centre d'Economie de la Sorbonne 2016.73 - ISSN : 1955-611X; The concept of acturial fairness stems from an Aristotelian tradition in which fairness requires equality between the goods exchanged. When dealing with aleatory contracts, this principle evolved, among medieval scholars, into equality in risk: benefits and losses should be proportional to the risks unde...

  3. 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

  4. 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.

  5. FAIR VALUE: UTILITY AND LIMITS

    Directory of Open Access Journals (Sweden)

    Valentin Gabriel Cristea

    2015-05-01

    Full Text Available This paper presents the utility and the limits of the fair value. We believe that any new product must be tried and tested before being imposed on the market and must be accepted by all potential users and those who will be affected, directly or indirectly and its advantages, disadvantages, risks, its cost must be predetermined and analyzed in a comprehensive and objective.We ask: Do financial statements at fair value meet users' expectations? The requirement to use fair value pricing model that was carrying was not accompanied by a parallel examination of its impact on the presentation of accounts.

  6. The ELISe experiment at FAIR

    International Nuclear Information System (INIS)

    Simon, H.

    2007-01-01

    In this paper the novel ELectron Ion scattering in a Storage ring (eA-collider) experiment that is part of the baseline of FAIR[http://www.gsi.de/fair/reports/btr.html] will be discussed in terms of future prospects in a viable physics programme[http://www.gsi.de/documents/DOC-2006-Mar-118-1.pdf, http://www.gsi.de/fair/experiments/ELISe/] that will be feasible for the first time, making use of a clean purely electromagnetic probe in conjunction with unstable secondary beams, the electron

  7. Fair Value or Market Value?

    Directory of Open Access Journals (Sweden)

    Bogdan Cosmin Gomoi

    2014-12-01

    Full Text Available When taking into consideration the issue of defining the “fair value” concept, those less experimented in the area often fall in the “price trap”, which is considered as an equivalent of the fair value of financial structures. This valuation basis appears as a consequence of the trial to provide an “accurate image” by the financial statements and, also, as an opportunity for the premises offered by the activity continuing principle. The specialized literature generates ample controversies regarding the “fair value” concept and the “market value” concept. The paper aims to debate this issue, taking into account various opinions.

  8. Trade Fairs, Markets and Fields

    DEFF Research Database (Denmark)

    Moeran, Brian

    2011-01-01

    This article describes how trade fairs act as a framing mechanism that enables participants to come together for the exchange of goods and services and to perceive themselves as acting in a social field. This way, trade fairs make markets possible. Based on ongoing participant observation at book....../material, social, situational, content/appreciative, and the use value of goods, values which are then equated with a commodity exchange value in the form of price. Trade fairs frame order, but they are also events where the respective field might be reconfigurated. The contingency of personal interaction...

  9. 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.

  10. 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.

  11. 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

  12. Insurance and nuclear power

    International Nuclear Information System (INIS)

    Whipple, C.

    1985-01-01

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

  13. 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...

  14. The impact of fair trade

    NARCIS (Netherlands)

    Ruben, R.

    2008-01-01

    Twenty years ago, Fair Trade started as an effort to enable smallholder producers from developing countries to successfully compete in international markets. Better access to market outlets and stable prices are considered key principles for sustainable poverty reduction and stakeholder

  15. The Economics of Fair Play.

    Science.gov (United States)

    Sigmund, Karl; Fehr, Ernst; Nowak, Martin A.

    2002-01-01

    Reports on the field of experimental economics and speculates about why we value fairness and cooperation over the seemingly more rational selfishness. Illustrates a typical decision making situation using the Ultimatum game. (DDR)

  16. To what extent Fair Value is Fair, an Analysis of Reliability and Relevance of the Fair Value Accounting Paradigm.

    OpenAIRE

    Dugarte, Rafael

    2006-01-01

    To what extent Fair Value is Fair, an Analysis of Reliability and Relevance of the Fair Value Accounting Paradigm. Rafael Dugarte Escalante September, 2006 Fair value accounting is fair and important for financial reporting in providing relevant, reliable, comparable and understandable information to the users depending on what kind of information is expected from it, and the way in which fair value is actually found. This study complemen...

  17. 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.

  18. Competitive Advantage in the Service Industry : The Importance of Strategic Congruence, Integrated Control and Coherent Organisational Structure – A Longitudinal Case Study of an Insurance Company

    OpenAIRE

    Poth, Susanna

    2014-01-01

    Competitive advantage has received considerable attention. Few studies have however chosen a holistic approach taking multiple aspects and organisational levels into consideration. This research has the goal of filling parts of this void. The aim is to deepen the understanding of competitive advantage in the service industry by analysing how alignment of strategy, control and organisation structure on multiple organisational levels impacts competitive advantage of a service company over a lon...

  19. 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.

  20. Measuring and Controlling Fairness of Triangulations

    KAUST Repository

    Jiang, Caigui; Gü nther, Felix; Wallner, Johannes; Pottmann, Helmut

    2016-01-01

    of fairness must take new aspects into account. We use concepts from discrete differential geometry (star-shaped Gauss images) to express fairness, and we also demonstrate how fairness can be incorporated into interactive geometric design of triangulated

  1. Issues in Fair Value Accounting under IFRS

    OpenAIRE

    Bischof, Jannis

    2008-01-01

    The dissertation presents theoretical evidence for inconsistencies in fair value accounting under IFRS, experimental evidence for biases in risk perception of fair values and empirical evidence for discretion in banks' disclosure policies with respect to fair value measurement.

  2. 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!

  3. 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...

  4. Electromagnetic Cavity Effects from Transmitters Inside a Launch Vehicle Fairing

    Science.gov (United States)

    Trout, Dawn H.; Wahid, Parveen F.; Stanley, James E.

    2009-01-01

    This paper provides insight into the difficult analytical issue for launch vehicles and spacecraft that has applicability outside of the launch industry. Radiation from spacecraft or launch vehicle antennas located within enclosures in the launch vehicle generates an electromagnetic environment that is difficult to accurately predict. This paper discusses the test results of power levels produced by a transmitter within a representative scaled vehicle fairing model and provides preliminary modeling results at the low end of the frequency test range using a commercial tool. Initially, the walls of the fairing are aluminum and later, layered with materials to simulate acoustic blanketing structures that are typical in payload fairings. The effects of these blanketing materials on the power levels within the fairing are examined.

  5. 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

  6. 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.

  7. Disability Income Insurance

    OpenAIRE

    Hayhoe, Celia Ray; Smith, Mike, CPF

    2009-01-01

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

  8. Understanding health insurance plans

    Science.gov (United States)

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

  9. PREFACE: FAIRNESS 2014: FAIR Next Generation ScientistS 2014

    Science.gov (United States)

    2015-04-01

    FAIRNESS 2014 was the third edition in a series of workshops designed to bring together excellent international young scientists with research interests focused on physics at FAIR (Facility for Antiproton and Ion Research) and was held on September 22-27 2014 in Vietri sul Mare, Italy. The topics of the workshops cover a wide range of aspects in both theoretical developments and current experimental status, concentrated around the four scientific pillars of FAIR. FAIR is a new accelerator complex with brand new experimental facilities, that is currently being built next to the existing GSI Helmholtzzentrum for Schwerionenforschung close to Darmstadt, Germany. The spirit of the conference is to bring together young scientists, e.g. advanced PhD students and postdocs and young researchers without permanent position to present their work, to foster active informal discussions and build up of networks. Every participant in the meeting with the exception of the organizers gives an oral presentation, and all sessions are followed by an hour long discussion period. During the talks, questions are anonymously collected in a box to stimulate discussions. The broad physics program at FAIR is reflected in the wide range of topics covered by the workshop: • Physics of hot and dense nuclear matter, QCD phase transitions and critical point • Nuclear structure, astrophysics and reactions • Hadron Spectroscopy, Hadrons in matter and Hypernuclei • New developments in atomic and plasma physics • Special emphasis is put on the experiments CBM, HADES, PANDA, NUSTAR, APPA and related experiments For each of these different areas one invited speaker was selected to give a longer introductory presentation. The write-ups of the talks presented at FAIRNESS 2014 are the content of this issue of Journal of Physics: Conference Series and have been refereed according to the IOP standard for peer review. This issue constitutes therefore a collection of the forefront of research that

  10. 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...

  11. 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…

  12. Conflict resolution via mediation, a new instrument to be added in order to improve the conflict resolution modalities of the VVII. Efficient and fair conflict resolution in the electricity industry; Verbesserung der Konfliktloesungsinstrumente der VVII durch Mediation. Effiziente und faire Konfliktloesung in der Stromwirtschaft

    Energy Technology Data Exchange (ETDEWEB)

    Neuenhahn, H.U. [Gesellschaft fuer Wirtschaftsmediation und Konfliktmangement e.V. (Germany)

    2001-09-10

    The author discusses the essential instruments for conflict management laid down in the VVII, the agreement of the industrial associations of the German electricity industry. The VVII is an agreement under civil law and defines the rules to be observed by the trading parties in connection with power transmission, TPA to networks and pricing policy in the competitive market. Analysing and criticising the experience so far with the existing instruments, the author suggests to adopt mediation as a new modality for conflict resolution, referring to available positive experience elsewhere. The parties actively and responsibly participate in the solution of their conflict satisfying their interests. The parties exclusively decide on the continuation and the result of the mediation procedure, and the arbiter does not act as a judge but as a mediator. (orig./CB)

  13. Fair Valuation of Guaranteed Contracts : The Interaction Between Assets and Liabilities

    NARCIS (Netherlands)

    Charlier, E.; Kleynen, R.H.M.A.

    2005-01-01

    In this paper we study the investment behavior of an insurance company consisting of policy and equity holders and issuing fair valued guaranteed contracts.Building up on the work of Briys and De Varenne (1997) and De Munnik and Schotman (1994) an intertemporal stochastic asset model and an interest

  14. 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.

  15. CERN Scientific Book Fair 2013

    CERN Multimedia

    CERN Library

    2013-01-01

    The CERN Bookshop and CERN Library invite you to attend the 2013 CERN Book Fair, a two-day scientific event offering you the opportunity to meet key publishers and to browse and purchase books at significant discounts.   Key publishers will present a selection of titles in physics, technology, mathematics, engineering, computing and popular science. You are welcome to come along and meet the publishers’ representatives or simply have a look at the books on sale. The fair will take place in the Main Building (Bldg. 500) on the ground floor near Restaurant 1 on Monday 9 and Tuesday 10 September. Participating or represented publishers include: Oxford University Press, Princeton University Press, Springer, Wiley, and World Scientific-Imperial College Press. Fair opening times:  - Monday 9 September 9:00 - 18:00  - Tuesday 10 September 9:00 - 18:00

  16. CERN scientific book fair 2010

    CERN Document Server

    CERN Library

    2010-01-01

    The CERN Bookshop and CERN Library invite you to attend the 2010 CERN Book Fair, a two-day scientific event offering you the opportunity to meet key publishers and to browse and purchase books at significant discounts.   Some twelve companies will be present and will bring with them a selection of titles in physics, technology, mathematics, engineering, computing and popular science. You are welcome to come along and meet the publishers’ representatives or simply have a look to the books on offer. The Fair will take place in the Main Building (bldg. 500) on the ground floor near the Restaurant 1 on Tuesday 7th and Wednesday 8th September. Participating or represented publishers include: Cambridge University Press, EPFL Press – PPUR, Oxford University Press, Imperial College Press, McGraw-Hill, Oxford University Press, Pearson Education, Princeton University Press, Springer, Taylor and Francis, Wiley, World Scientific. Fair opening times: Tuesday 7 September 9:00 &ndash...

  17. Trade Fairs, Markets and Fields

    DEFF Research Database (Denmark)

    Moeran, Brian

    2011-01-01

    This working paper takes as its starting point the work of the German economic sociologist, Jens Beckert, and his call for empirical investigations into how intentionally rational actors reach decisions under conditions when they do not know what is best to do. It describes how trade fairs act...... as a framing mechanism that enables participants to come together for the exchange of goods and services and to perceive themselves as acting in a social field. Fairs frame the contacts people make and sustain as networks; the institutional rules and social norms guiding their behaviour there; and the values...... and cognitive frames that they bring to bear and negotiate with other participants. They make actors aware of a ‘mutual correspondence’ in their interpretation of the goods in which they deal and of the social situations in which engage for the sake of such trade. Trade fairs both configure fields and make...

  18. Future Facility: FAIR at GSI

    International Nuclear Information System (INIS)

    Rosner, Guenther

    2007-01-01

    The Facility for Antiproton and Ion Research, FAIR, is a new particle accelerator facility to be built at the GSI site in Germany. The research at FAIR will cover a wide range of topics in nuclear and hadron physics, high density plasma and atomic physics, and applications in condensed matter physics and biology. A 1.1 km circumference double ring of rapidly cycling 100 and 300 Tm synchrotrons, will be FAIR's central accelerator system. It will be used to produce, inter alia, high intensity secondary beams of antiprotons and short-lived radioactive nuclei. A subsequent suite of cooler and storage rings will deliver heavy ion and antiproton beams of unprecedented quality. Large experiments are presently being designed by the NUSTAR, PANDA, PAX, CBM, SPARC, FLAIR, HEDgeHOB and BIOMAT collaborations

  19. Health services utilization and costs of the insured and uninsured ...

    African Journals Online (AJOL)

    Background: Health insurance is a social security system that aims to facilitate fair financing of health costs through pooling and judicious utilization of financial resources, in order to provide financial risk protections and cost burden sharing for people against high cost of healthcare through various prepayment methods ...

  20. Environmental Science: 49 Science Fair Projects. Science Fair Projects Series.

    Science.gov (United States)

    Bonnet, Robert L.; Keen, G. Daniel

    This book contains 49 science fair projects designed for 6th to 9th grade students. Projects are organized by the topics of soil, ecology (projects in habitat and life cycles), pests and controls (projects in weeds and insects), recycling (projects in resources and conservation), waste products (projects in decomposition), microscopic organisms,…

  1. Risks and nuclear insurance

    International Nuclear Information System (INIS)

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

    1988-01-01

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

  2. The Big Bang: UK Young Scientists' and Engineers' Fair 2010

    Science.gov (United States)

    Allison, Simon

    2010-01-01

    The Big Bang: UK Young Scientists' and Engineers' Fair is an annual three-day event designed to promote science, technology, engineering and maths (STEM) careers to young people aged 7-19 through experiential learning. It is supported by stakeholders from business and industry, government and the community, and brings together people from various…

  3. 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.

  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. 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...

  6. Political risk in fair market value estimates

    International Nuclear Information System (INIS)

    Gruy, H.J.; Hartsock, J.H.

    1996-01-01

    Political risk arises from unstable governments, commercial establishments and infrastructure as well as labor unrest. All these factors vary from country to country and from time to time. Banks and insurance companies quantify these risks, but they are reluctant to divulge their opinions for fear of alienating possible customers that have been assigned a high risk. An investment in a fixed property such as an oil and gas lease, concession or other mineral interest is subject to political risk. No one will deny that money to be received several years in the future has a greater value today in a country with a stable government, stable tax regime, a sound economy and reliable labor force than in a Third World country where a revolution is brewing. Even in stable countries, the risk of tax law changes, exorbitant environmental production regulations and cleanup costs may vary. How do these factors affect fair market value and how are these calculations made? An important consideration discussed in this paper is the treatment of capital investments

  7. Children develop a veil of fairness

    DEFF Research Database (Denmark)

    Shaw, Alex; Montinari, Natalia; Piovesan, Marco

    2014-01-01

    Previous research suggests that children develop an increasing concern with fairness over the course of development. Research with adults suggests that the concern with fairness has at least 2 distinct components: a desire to be fair and a desire to signal to others that they are fair. We explore......INFO Database Record (c) 2013 APA, all rights reserved)....

  8. Fair Exchange in Strand Spaces

    Directory of Open Access Journals (Sweden)

    Joshua D. Guttman

    2009-10-01

    Full Text Available Many cryptographic protocols are intended to coordinate state changes among principals. Exchange protocols coordinate delivery of new values to the participants, e.g. additions to the set of values they possess. An exchange protocol is fair if it ensures that delivery of new values is balanced: If one participant obtains a new possession via the protocol, then all other participants will, too. Fair exchange requires progress assumptions, unlike some other protocol properties. The strand space model is a framework for design and verification of cryptographic protocols. A strand is a local behavior of a single principal in a single session of a protocol. A bundle is a partially ordered global execution built from protocol strands and adversary activities. The strand space model needs two additions for fair exchange protocols. First, we regard the state as a multiset of facts, and we allow strands to cause changes in this state via multiset rewriting. Second, progress assumptions stipulate that some channels are resilient-and guaranteed to deliver messages-and some principals are assumed not to stop at certain critical steps. This method leads to proofs of correctness that cleanly separate protocol properties, such as authentication and confidentiality, from invariants governing state evolution. G. Wang's recent fair exchange protocol illustrates the approach.

  9. Financial fairness and conditional indexation

    NARCIS (Netherlands)

    Kleinow, T.; Schumacher, J.M.

    2017-01-01

    Collective pension contracts can generate advantages for their participants by implementing forms of risk sharing. To ensure the continuity of a collective scheme, it has to be monitored whether the contracts offered to participants are financially fair in terms of their market value. When risk

  10. Financial Fairness and Conditional Indexation

    NARCIS (Netherlands)

    Kleinow, Torsten; Schumacher, Hans

    2015-01-01

    Collective pension contracts can generate advantages for their participants by implementing forms of risk sharing. To ensure the continuity of a collective scheme, it has to be monitored whether the contracts offered to participants are financially fair in terms of their market value. When risk

  11. Pension accounting and fair value

    OpenAIRE

    Napier, Christopher

    2007-01-01

    The chapter reviews the applicability of the fair value measurement concept to pension assets and liabilities, concluding that difficulties are likely to arise in measuring pension liabilities at far value, owing to the absence of well-developed markets for such liabilities.

  12. Toddlers Selectively Help Fair Agents

    Directory of Open Access Journals (Sweden)

    Luca Surian

    2017-06-01

    Full Text Available Previous research showed that infants and toddlers are inclined to help prosocial agents and assign a positive valence to fair distributions. Also, they expect that positive and negative actions directed toward distributors will conform to reciprocity principles. This study investigates whether toddlers are selective in helping others, as a function of others’ previous distributive actions. Toddlers were presented with real-life events in which two actresses distributed resources either equally or unequally between two puppets. Then, they played together with a ball that accidentally fell to the ground and asked participants to help them to retrieve it. Participants preferred to help the actress who performed equal distributions. This finding suggests that by the second year children’s prosocial actions are modulated by their emerging sense of fairness.HighlightsToddlers (mean age = 25 months are selective in helping distributors.Toddlers prefer helping a fair rather than an unfair distributor.Toddlers’ selective helping provides evidence for an early sense of fairness.

  13. 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.

  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. 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...

  16. 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...

  17. 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.

  18. A FEW CONSIDERATIONS ABOUT TRADE FAIR STANDS DESIGN

    Directory of Open Access Journals (Sweden)

    NEIDONI Nadina

    2017-05-01

    Full Text Available The paper presents some aspects related to the design of a trade fair stand, advertising a company specialized in the fabrication of corrugated fibre board packaging. The first section reviews shortly the main features of the industrial design. The second section deals with the structural conception of successful trade shows. Further, the importance of the package in the marketing matters is addressed. In this context corrugated fibreboard, as secondary or tertiary material is essential. In the final section, a comparison between two trade fair stands, representing a corrugated fibreboard company are presented.

  19. Nuclear insurance fire risk

    International Nuclear Information System (INIS)

    Dressler, E.G.

    2001-01-01

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

  20. 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.

  1. 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...

  2. Nonlife Insurance Pricing:

    Science.gov (United States)

    Darooneh, Amir H.

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

  3. ITB Berlin: The world's leading tourism fair

    Directory of Open Access Journals (Sweden)

    Đeri Lukrecija

    2010-01-01

    Full Text Available MICE is a significant segment of tourism industry. It is of great interest for exhibitors and visitors, as well as for host cities and organizers. ITB Berlin represents the world's leading travel trade show. This paper analyses the key trends of this event in the last five year period (from 2004 until 2008. Analyzed data was annually gathered by Gelzus Messe-Marktforschung GmbH. This research focused on exhibitors', trade visitors and private visitors' origin, age distribution of private visitors, exhibiting companies, exhibiting branches, interest for travel according to type and overall impression and outlook that was gathered through surveys at ITB Berlin. Data was collected in the period 2004-2008 and placed together to make a five year overview. The goal is to present a development of above mentioned values and to discover potential patterns and predict future trends for this tourism fair. .

  4. Prescriptions and Insurance Plans

    Science.gov (United States)

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

  5. Uninsured vs. insured population

    DEFF Research Database (Denmark)

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

    2003-01-01

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

  6. CERN Scientific Book Fair 2008

    CERN Multimedia

    DSU Unit

    2008-01-01

    The CERN Bookshop and CERN Library invite you to attend the 2008 CERN Book Fair 2008, a three-day scientific book festival offering you the opportunity to meet key publishers and electronic book suppliers and to browse and purchase books at significant discounts. Some ten companies will be participating and will bring with them a selection of titles in physics, technology, mathematics, engineering and popular science. There will also be a number of tie-in events intended to give you an insight into the writing and publishing process from authors within our own community. Come along and meet the authors, discuss your book ideas with the publishers’ representatives or simply browse the books on offer. The Fair will take place in Building 500 in the area near the Main Auditorium, and special presentations (as detailed below) will be held in rooms nearby or in the Library. Participating publishers and book traders include: Cambridge ...

  7. The NUSTAR program at FAIR

    Directory of Open Access Journals (Sweden)

    Herlert Alexander

    2014-04-01

    Full Text Available The NUSTAR Collaboration brings together several hundred scientists to form one of the four scientific pillars of the future FAIR facility. NUSTAR aims at the exploitation of intense radioactive beams with energies up to 1.5 GeV/u in order to explore nuclei with large neutron or proton excess. The project has evolved over the last years and now reached a state where a large fraction of the core program is financed, partly built, and even ready for operation. With the signing of the FAIR convention in 2010 and the start of construction, the sub-projects in NUSTAR gain momentum and look forward to commissioning and first beams in this decade. The present status of the project will be presented, focusing on the instrumentation to be applied in the various experimental areas behind the Super-FRS fragment separator, which is the central instrument of NUSTAR.

  8. Collector ring project at FAIR

    International Nuclear Information System (INIS)

    Dolinskii, A; Blell, U; Dimopoulou, C; Gorda, O; Leibrock, H; Litvinov, S; Laier, U; Schurig, I; Weinrich, U; Berkaev, D; Koop, I; Starostenko, A; Shatunov, P

    2015-01-01

    The collector ring is a dedicated ring for fast cooling of ions coming from separators at the FAIR project. To accommodate optimal technical solutions, a structure of a magnet lattice was recently reviewed and modified. Consequently, more appropriate technical solutions for the main magnets could be adopted. A general layout and design of the present machine is shown. The demanding extraction schemes have been detailed and open design issues were completed. (paper)

  9. Accounting for Fair Value Headging

    OpenAIRE

    Botea Elena Mihaela; Stanila Oana Georgiana; SSahlian Daniela Nicoleta

    2010-01-01

    The derivatives appearance was generated by the discovery of new ways to limit and manage current activity risks. Derivatives couldn’t hedge any type of risk. Derivative operations can be used to hedge: interest rate risks, foreign currency exchange rate risks, credit risks. Derivatives used to hedge these risks can be handled to cover fair value exposure, cash flow exposure and exposure to changes in the value of a net investment in a foreign operation. The hedging accounting roll is to prot...

  10. Hybla Fair event: environmental report

    International Nuclear Information System (INIS)

    Roach, D.R.; Russell, W.L. Jr.

    1975-01-01

    A series of environmental measurements during the Hybla Fair nuclear event were made. Experimenters were unsure of conditions that would be created since there was no closure system and the experiments were close to the source. A variety of temperature, pressure, and load devices were tested. The results will aid in the design and engineering of future close-in diagnostic packages and pipes. (U.S.)

  11. Hadronic resonances at FAIR energies

    International Nuclear Information System (INIS)

    Vogel, Sascha

    2013-01-01

    These proceedings cover the analysis of hadronic resonances in heavy ion collisions. The model used for these studies is the Ultra-relativistic Quantum Molecular Dynamics (UrQMD) model. The model will be briefly explained, resonance observables will be highlighted and various kinematical issues will be investigated. Special emphasis will be put on the FAIR energy regime, especially highlighting the Compressed Baryonic Matter (CBM) program.

  12. Fair adaptation to climate change

    International Nuclear Information System (INIS)

    Paavola, Jouni; Adger, W. Neil

    2006-01-01

    This article identifies social justice dilemmas associated with the necessity to adapt to climate change, examines how they are currently addressed by the climate change regime, and proposes solutions to overcome prevailing gaps and ambiguities. We argue that the key justice dilemmas of adaptation include responsibility for climate change impacts, the level and burden sharing of assistance to vulnerable countries for adaptation, distribution of assistance between recipient countries and adaptation measures, and fair participation in planning and making decisions on adaptation. We demonstrate how the climate change regime largely omits responsibility but makes a general commitment to assistance. However, the regime has so far failed to operationalise assistance and has made only minor progress towards eliminating obstacles for fair participation. We propose the adoption of four principles for fair adaptation in the climate change regime. These include avoiding dangerous climate change, forward-looking responsibility, putting the most vulnerable first and equal participation of all. We argue that a safe maximum standard of 400-500 ppm of CO 2 concentrations in the atmosphere and a carbon tax of $20-50 per carbon equivalent ton could provide the initial instruments for operationalising the principles. (author)

  13. The FairRoot framework

    International Nuclear Information System (INIS)

    Al-Turany, M; Bertini, D; Karabowicz, R; Kresan, D; Malzacher, P; Uhlig, F; Stockmanns, T

    2012-01-01

    The FairRoot framework is an object oriented simulation, reconstruction and data analysis framework based on ROOT. It includes core services for detector simulation and offline analysis. The framework delivers base classes which enable the users to easily construct their experimental setup in a fast and convenient way. By using the Virtual Monte Carlo concept it is possible to perform the simulations using either Geant3 or Geant4 without changing the user code or the geometry description. Using and extending the task mechanism of ROOT it is possible to implement complex analysis tasks in a convenient way. Moreover, using the FairCuda interface of the framework it is possible to run some of these tasks also on GPU. Data IO, as well as parameter handling and data base connections are also handled by the framework. Since some of the experiments will not have an experimental setup with a conventional trigger system, the framework can handle also free flowing input streams of detector data. For this mode of operation the framework provides classes to create the needed time sorted input streams of detector data out of the event based simulation data. There are also tools to do radiation studies and to visualize the simulated data. A CMake-CDash based building and monitoring system is also part of the FairRoot services which helps to build and test the framework on many different platforms in an automatic way, including also Continuous Integration.

  14. HOW APPRAISERS DEVELOP FAIR VALUE

    Directory of Open Access Journals (Sweden)

    MIROSLAV ŠKODA

    2012-01-01

    Full Text Available Management is responsible for its own financial decisions. If we take into account, that fair value concept was shown in financial crisis as something that does not work anymore in this way; there is a big need to develop it for the future. Non-professional readers of financial statements believe, however, that company financials are the work of the public accounting firm that had signed the audit certificate. The main reason for bringing this point up is that when companies disclose Fair Value (FV information in their financial statements, they are taking responsibility for the values disclosed. Management may often be encouraged to utilize the services of an outside professional, but at the end of the day, the outside appraiser is a hired gun. Although the appraiser has to take responsibility for his own work, hiring the appraiser does not absolve management of its ultimate responsibility. The obverse of this is also true. Management does not have to hire the appraiser to develop any fair value disclosures made in the financial statements. Developing FV information is not recommended as a do-it yourself undertaking, there is nothing in Generally Accepted Accounting Principles (GAAP or Securities Exchange Commission (SEC regulations, however, that requires an outside appraiser.

  15. Structural Optimisation Of Payload Fairings

    Science.gov (United States)

    Santschi, Y.; Eaton, N.; Verheyden, S.; Michaud, V.

    2012-07-01

    RUAG Space are developing materials and processing technologies for manufacture of the Next Generation Launcher (NGL) payload fairing, together with the Laboratory of Polymer and Composite Technology at the EPFL, in a project running under the ESA Future Launchers Preparatory Program (FLPP). In this paper the general aims and scope of the project are described, details of the results obtained shall be presented at a later stage. RUAG Space design, develop and manufacture fairings for the European launch vehicles Ariane 5 and VEGA using well proven composite materials and production methods which provide adequate cost/performance ratio for these applications. However, the NGL shall make full use of innovations in materials and process technologies to achieve a gain in performance at a much reduced overall manufacturing cost. NGL is scheduled to become operational in 2025, with actual development beginning in 2014. In this current project the basic technology is being developed and validated, in readiness for application in the NGL. For this new application, an entirely new approach to the fairing manufacture is evaluated.

  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. The insurance of nuclear installations

    International Nuclear Information System (INIS)

    Francis, H.W.

    1977-01-01

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

  18. Power plant instrumentation and control. Innovations shown at the Interkama '99 trade fair

    International Nuclear Information System (INIS)

    Ullemeyer, M.; Fritz, P.

    2000-01-01

    At the Interkama '99 trade fair, innovative software and hardware solutions for the power industry 'from power plant to the plug' were shown. The report mentions the companies and explains their new developments and systems. (orig./CB) [de

  19. Hazardous Waste Cleanup: Fisher Scientific Chemical Division in Fair Lawn, New Jersey

    Science.gov (United States)

    Fisher Scientific Chemical Division occupies a 10-acre site at 1 Reagent Lane in the Fair Lawn Industrial Park, New Jersey. Since 1955, Fisher has formulated, distilled, repackaged and distributed high-purity, laboratory-grade reagents and solvents.

  20. Internet Privacy: Comparison of Federal Agency Practices With FTC's Fair Information Principles

    National Research Council Canada - National Science Library

    2000-01-01

    ... recent privacy survey of commercial web sites. The survey's objective was to assess the on-line industry's progress in implementing four fair information principles which FTC believes are widely accepted. Notice...

  1. Children develop a veil of fairness.

    Science.gov (United States)

    Shaw, Alex; Montinari, Natalia; Piovesan, Marco; Olson, Kristina R; Gino, Francesca; Norton, Michael I

    2014-02-01

    Previous research suggests that children develop an increasing concern with fairness over the course of development. Research with adults suggests that the concern with fairness has at least 2 distinct components: a desire to be fair and a desire to signal to others that they are fair. We explore whether children's developing concern with behaving fairly toward others may in part reflect a developing concern with appearing fair to others. In Experiments 1 and 2, most 6- to 8-year-old children behaved fairly toward others when an experimenter was aware of their choices; fewer children opted to behave fairly, however, when they could be unfair to others yet appear fair to the experimenter. In Experiment 3, we explored the development of this concern with appearing fair by using a wider age range (6- to 11-year-olds) and a different method. In this experiment, children chose how to assign a good or bad prize to themselves and another participant by either unilaterally deciding who would get each prize or using a fair procedure--flipping a coin in private. Older children were much more likely to flip the coin than younger children, yet were just as likely as younger children to assign themselves the good prize by reporting winning the coin flip more than chance would dictate. Overall, the results of these experiments suggest that as children grow older they become increasingly concerned with appearing fair to others, which may explain some of their increased tendency to behave fairly.

  2. 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.

  3. 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...

  4. 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...

  5. Social health insurance

    CERN Document Server

    International Labour Office. Geneva

    1997-01-01

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

  6. Strategy intervention for the evolution of fairness.

    Directory of Open Access Journals (Sweden)

    Yanling Zhang

    Full Text Available The 'irrational' preference for fairness has attracted increasing attention. Although previous studies have focused on the effects of spitefulness on the evolution of fairness, they did not consider non-monotonic rejections shown in behavioral experiments. In this paper, we introduce a non-monotonic rejection in an evolutionary model of the Ultimatum Game. We propose strategy intervention to study the evolution of fairness in general structured populations. By sequentially adding five strategies into the competition between a fair strategy and a selfish strategy, we arrive at the following conclusions. First, the evolution of fairness is inhibited by altruism, but it is promoted by spitefulness. Second, the non-monotonic rejection helps fairness overcome selfishness. Particularly for group-structured populations, we analytically investigate how fairness, selfishness, altruism, and spitefulness are affected by population size, mutation, and migration in the competition among seven strategies. Our results may provide important insights into understanding the evolutionary origin of fairness.

  7. A cut above: building the market for fair trade timber

    Energy Technology Data Exchange (ETDEWEB)

    MacQueen, Duncan

    2008-02-15

    Unlike coffee and cotton, timber has yet to become a fair trade commodity. But now its time has come. Rights over forest resources are increasingly ceded to small-scale community forest enterprises (CFEs), as large-scale industrial logging is now largely discredited in the sustainable development context. The fair trade emphasis on just pricing for poorer producers is exactly what CFEs need as incentive to invest in sustainable forest management — and secure environmental and poverty reduction benefits at one stroke. With fair trade timber, CFEs could boost their entrepreneurial capacity using democratic business models with in-built social and environmental responsibility. The Fair Trade Labelling Organizations International and Forest Stewardship Council are exploring the ways and means through a new partnership, but more is needed. Consumers must be made aware of why paying higher prices is key to creating CFE incentives for sustainable forest management and poverty reduction. Time and money are needed for consumer education and installing fair trade timber in producer country forest policies, market segregation and procurement policies at all levels.

  8. 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.

  9. Fair play in energy policy decisions: Procedural fairness, outcome fairness and acceptance of the decision to rebuild nuclear power plants

    International Nuclear Information System (INIS)

    Visschers, Vivianne H.M.; Siegrist, Michael

    2012-01-01

    To raise public acceptance of new energy policies, promoting the fairness of the outcomes and of the decision-making procedure has been suggested. Very few studies have examined the role of fairness in public acceptance of rebuilding nuclear power plants. Therefore, using a large mail survey, we investigated the public’s acceptance of the decision to rebuild nuclear power plants in Switzerland by 2020. The study examined the influence of procedural fairness and outcome fairness on the acceptance of this decision, as well as other factors such as risk perception and benefit perception. Additionally, we investigated the moderating influence of general attitudes towards nuclear power on the relation between fairness and decision acceptance. Results indicated that outcome fairness strongly increased decision acceptance, along with general attitudes towards nuclear power and perceived economic benefits. Procedural fairness had only a small impact on decision acceptance. The influence of fairness on decision acceptance did not seem to depend on general nuclear attitudes. Our findings imply that, in the case of rebuilding nuclear power plants, perceived benefits and outcome fairness are important determinants of acceptance of the decision, while procedural fairness only has a limited impact. - Highlights: ► We investigated the role of fairness in the acceptance of a nuclear policy decision. ► Outcome fairness strongly influenced decision acceptance regarding nuclear power plants. ► The role of procedural fairness was relatively small in this respect. ► Also, nuclear attitudes and perceived economic benefits affected decision acceptance. ► Outcome fairness seems more relevant for decision acceptance than procedural fairness.

  10. Unemployment Insurance and Inequality

    DEFF Research Database (Denmark)

    Larsen, Birthe; Waisman, Gisela

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

  11. Health insurance for "frontaliers"

    CERN Multimedia

    2013-01-01

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

  12. Disposition of Insurance Allotment Payments

    National Research Council Canada - National Science Library

    Young, Shelton

    2001-01-01

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

  13. Fair value assessment – valences and limitations

    OpenAIRE

    Cozma Ighian Diana; Nistor Cristina Silvia

    2010-01-01

    In recent years, FASB and IASB have intensified research on fair value measurements and planned to further expand the scope of applicability of fair value measurements. However, organizations responsible for formulating the principles, enterprises, social bodies and academia are locked in a dispute over the advantages and disadvantages of fair value measurements, and no consensus has been reached yet. This paper explores the arguments for and against fair value and tries to find out whether a...

  14. Fair Value Bewertung von zedierten Reserven

    OpenAIRE

    Heep-Altiner, Maria; Hoos, Sebastian; Krahforst, Christoph

    2014-01-01

    Für Schadenreserven existieren keine hinreichend fungiblen Märkte und somit auch keine Marktpreise im klassischen Sinn. Für eine Fair Value Bewertung bedarf es also eines geeigneten Modellansatzes. In der Schadenversicherung wird üblicher- weise der Transaktionswert modelliert, wobei hier die korrekte Modellierung der Kapitalkosten einer der zentralen Punkte ist. Der Fair Value der zedierten Reserven kann als Differenz zwischen dem Fair Value der Bruttoreserven und dem Fair Value der Nettores...

  15. FAIR VALUE ACCOUNTING AND EARNINGS MANAGEMENT

    OpenAIRE

    Pei-Hui Hsu; Youan (Robert) Lin

    2016-01-01

    Many have argued that measuring financial instruments at fair value might not reflect firms’ financial condition. Prior study finds that managers manipulate the “disclosure” of fair value measurement (Song et al. 2010). In this study, we attempt to provide evidence regarding manager’s incentive to manipulate the disclosure of fair value measurements by examining whether the disclosure of less relevant fair value measurement is related to the odds of earnings management. We find that firms ...

  16. FAIR VALUE IMPLICATIONS ON ROMANIAN CAPITAL MARKET

    OpenAIRE

    Ciprian-Dan COSTEA

    2014-01-01

    Fair value generated intense debate during the last years, as the financial turmoil influenced many economies and capital markets, including the Romanian ones, too. Some researchers and professionals consider fair value in charge with the financial crisis and they ask for historical cost accounting basis for financial reporting. Fair value has its supporters, too. They consider that fair value reflects the effects of changes in market conditions when they take place, and accounting informatio...

  17. Efeitos da Aplicação de Valor Justo no Ativo Biológico de uma Empresa do Ramo de Celulose e Papel = The application of biological assets at fair value of a company of pulp and paper industry

    Directory of Open Access Journals (Sweden)

    André Carlos Einsweiller

    2013-12-01

    Full Text Available Este trabalho tem por objetivo apurar os efeitos sofridos por uma empresa do ramo de celulose e papel com a aplicação ou mensuração do valor justo sobre o seu ativo biológico, mais exatamente sobre suas florestas de pinus e eucalipto. Está fundamentado nos preceitos e normas estabelecidos pelo Comitê de Pronunciamentos Contábeis, por meio do CPC 29, para contabilização dos ativos biológicos. O trabalho utiliza a abordagem quantitativa e qualitativa da pesquisa exploratória e descritiva, e os procedimentos do estudo de caso incorporado e da pesquisa documental. Foram considerados neste estudo os exercícios de 2009, 2010 e 2011. Para assegurar a confiabilidade das avaliações do ativo biológico, a empresa estabeleceu premissas de avaliação que atendam a padrões consistentes e isentos. Do montante do ativo biológico no final do exercício de 2011, 28,39% representam custos de formação e 71,61% representam o valor justo apurado. As florestas de pinus próximas à fábrica de papel e celulose têm a maior participação no ativo biológico da empresa. Como efeitos da aplicação do valor justo, os resultados da empresa foram adicionados em R$ 31,7 milhões nos três anos avaliados. O Patrimônio Líquido, o Imposto de Renda e a Contribuição Social sobre os Lucros também foram consideravelmente influenciados pela adoção do valor justo. O efeito do valor justo sobre o ativo biológico da empresa nos três exercícios proporcionou ganhos de 20,1% ao ativo biológico da empresa. This study aims at investigating the effects that a pulp and paper industry has suffered from the application or measuring of the fair value on its biological assets, more precisely in its forests of pine and eucalyptus. It is endorsed by the precepts and rules established by the Accounting Pronouncements Committee, through CPC 29, to accounting biological assets.The paper uses a quantitative and qualitative approach of exploratory and descriptive

  18. 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...

  19. 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...

  20. Assortiment-kanaalmatch voor biologische fair tradeproducten

    NARCIS (Netherlands)

    LEI,

    2008-01-01

    Stichting FairBites ontwikkelt middels een innovatief organisatiemodel biologische en fair trade voedingsproducten voor de out-of-home (OOH) markt. Deze producten zijn zeer beperkt beschikbaar in dit marktsegment dat ± 35% van de voedingsmarkt vertegenwoordigd. FairBites richt zich op jong

  1. Do fair value adjustments influence dividend policy?

    NARCIS (Netherlands)

    Goncharov, I.; van Triest, S.

    2011-01-01

    We examine the impact of positive fair value adjustments on dividend policy. If fair value adjustments are transitory in nature and managers are able to assess their implications for future earnings, fair value adjustments in net income is expected to have no distribution consequences. However,

  2. 7 CFR 51.705 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.705 Section 51.705 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.705 Fairly firm. Fairly firm as applied to common oranges, means that the fruit may be slightly...

  3. 7 CFR 51.1831 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1831 Section 51.1831 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1831 Fairly firm. Fairly firm means that the...

  4. 7 CFR 51.774 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.774 Section 51.774 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.774 Fairly firm. Fairly firm means that the...

  5. 7 CFR 51.2843 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.2843 Section 51.2843 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Fairly firm. Fairly firm means that the onion may yield slightly to moderate pressure but is not...

  6. 7 CFR 51.1012 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1012 Section 51.1012 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1012 Fairly firm. Fairly firm means that the fruit is...

  7. 7 CFR 51.3204 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.3204 Section 51.3204 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Bermuda-Granex-Grano Type Onions Definitions § 51.3204 Fairly firm. Fairly firm...

  8. 7 CFR 51.1167 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1167 Section 51.1167 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Oranges and Tangelos Definitions § 51.1167 Fairly firm. Fairly firm as...

  9. 7 CFR 51.643 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.643 Section 51.643 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.643 Fairly firm. Fairly firm means that the fruit may be slightly soft, but not bruised, and...

  10. Volatility as a downside of fairness

    OpenAIRE

    Leibfried, Peter; Zimmermann, Marc-Daniel

    2008-01-01

    Accounting Standards increasingly require financial instruments such as stocks, derivatives and structured products to be measured at fair value. As fair values represent a financial instrument's market value, price fluctuations find their way into financial statements. Even though fair value measurement provides useful information about the current value of a corporation's assets, it also increases the volatility of earnings.

  11. 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

  12. 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.

  13. 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...

  14. 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...

  15. 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.

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

    Directory of Open Access Journals (Sweden)

    Ionel BOSTAN

    2011-03-01

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

  17. 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

  18. 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.

  19. Liquidity and Impact in Fair Markets

    OpenAIRE

    Jaisson, Thibault

    2015-01-01

    We develop a theory which applies to any market dynamics that satisfy a fair market assumption on the nullity of the average profit of simple market making strategies. We show that for any such fair market, there exists a martingale fair price which corresponds to the average liquidation value (at the ask or the bid) of an infinitesimal quantity of stock. We show that this fair price is a natural reference price to compute the ex post gain of limit orders. Using only the fair market assumptio...

  20. Inspired at a book fair

    CERN Document Server

    Anaïs Schaeffer

    2012-01-01

    During the Frankfurt book fair last October, the CERN stand drew quite the crowd. Director-General Rolf Heuer was there to promote CERN’s mission and the "LHC: the Large Hadron Collider" book. He met a lot of visitors and for one of them there was also a nice follow-up…   Marcus and his father visiting the LINAC facility. Fifteen year-old Marcus lives in Lauterecken near Frankfurt. The popular book fair last autumn was for him a nice opportunity to get in touch with the CERN environment. Inspired by the stand and what the CERN people were describing, he started to ask more and more questions… So many, that Rolf Heuer decided to invite him to come to CERN and find out some of the answers for himself. A few weeks later, while recovering from an exciting visit to the ATLAS underground cavern and other CERN installations with a cup of tea in Restaurant 1, Marcus shared his enthusiasm about the Organization: “When I was younger, my moth...

  1. Life Insurance and Annuity Demand under Hyperbolic Discounting

    Directory of Open Access Journals (Sweden)

    Siqi Tang

    2018-04-01

    Full Text Available In this paper, we analyse and construct a lifetime utility maximisation model with hyperbolic discounting. Within the model, a number of assumptions are made: complete markets, actuarially fair life insurance/annuity is available, and investors have time-dependent preferences. Time dependent preferences are in contrast to the usual case of constant preferences (exponential discounting. We find: (1 investors (realistically demand more life insurance after retirement (in contrast to the standard model, which showed strong demand for life annuities, and annuities are rarely purchased; (2 optimal consumption paths exhibit a humped shape (which is usually only found in incomplete markets under the assumptions of the standard model.

  2. Book Review: Is Fair Value Fair? Financial Reporting from an International Perspective

    DEFF Research Database (Denmark)

    Thinggaard, Frank

    2005-01-01

    This is a review of Henk Langendijk, Dirk Swagerman and Willem Verhoog (Eds) "Is Fair Value Fair? Financial Reporting from an International Perspective," Chichester: John Wiley, 2003, ISBN 0 470 85028 0.......This is a review of Henk Langendijk, Dirk Swagerman and Willem Verhoog (Eds) "Is Fair Value Fair? Financial Reporting from an International Perspective," Chichester: John Wiley, 2003, ISBN 0 470 85028 0....

  3. Fair period in French solar

    International Nuclear Information System (INIS)

    Pradel, P.

    1997-01-01

    The French solar industry decreased from 1992, but five years later, the situation changes and this industry is increasing again. The energy policy takes in account the renewable energies in a greater part, secondly, the technical reliability and a prices decreasing allow to this market to gain some ground. (N.C.)

  4. Transport Nuclear Liability Insurance

    International Nuclear Information System (INIS)

    Folens, M.

    2006-01-01

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

  5. 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...

  6. 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.

  7. 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.

  8. 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...

  9. 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.

  10. 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.

  11. Group life insurance

    CERN Multimedia

    2013-01-01

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

  12. M. Nuclear insurance

    International Nuclear Information System (INIS)

    1976-01-01

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

  13. Building and Contents Insurance.

    Science.gov (United States)

    Freese, William C.

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

  14. HUD Insured Hospitals

    Data.gov (United States)

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

  15. Deductibles in health insurance

    Science.gov (United States)

    Dimitriyadis, I.; Öney, Ü. N.

    2009-11-01

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

  16. 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.

  17. 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.

  18. Prevention in insurance markets

    OpenAIRE

    Marie-Cécile FAGART; Bidénam KAMBIA-CHOPIN

    2006-01-01

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

  19. Production of hypernuclei at FAIR

    Energy Technology Data Exchange (ETDEWEB)

    Gaitanos, Theodoros; Larionov, Alexei; Mosel, Ulrich [Institut fuer Theoretische Physik, Universitaet Giessen (Germany)

    2011-07-01

    The strangeness sector of the strong interaction is important for our knowledge on, e.g., nuclear astrophysics. It is still a widely debated topic of current research. Hypernuclear production in heavy-ion collisions and anti p-nucleus collisions offers the opportunity to investigate the hyperon-nucleon and hyperon-hyperon interaction inside a hadronic environment in terrestrial laboratories. We study the formation of fragments with and without strangeness contents in the framework of a dynamical transport model (Giessen Boltzmann-Uehling- Uhlenbeck, GiBUU) and a statistical approach (Statistical Multifragmentation Model, SMM) of fragment formation. We use a coalescence picture for the production of single-{Lambda} and double-{Lambda} hypernuclei, and provide theoretical estimates on their spectra and inclusive cross sections in heavy-ion collisions and anti p induced reactions, relevant for HypHI and PANDA experiments at FAIR.

  20. The PANDA experiment at FAIR

    International Nuclear Information System (INIS)

    Bussa, M.P.

    2005-01-01

    The approved FAIR upgrade of the GSI facility in Darmstadt, Germany, includes the construction of a High Energy Storage Ring (HESR) for high intensity, phase space cooled antiprotons with momenta up to 15 GeV/c. A wide physics program is planned at this facility to investigate fundamental questions of hadron and nuclear physics in interactions of antiprotons with nucleons and nuclei. To serve the many experiments planned at this new facility, an universal, modular, hermetic spectrometer called PANDA (Proton ANtiproton Detector Array) is planned. This talk presents an overview of the physics program pursued by this project and of the PANDA detector system. The feasibility of measurements in the sector of spin degrees of freedom of quarks will be also discussed. (author)

  1. 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.

  2. Consumer in insurance law

    Directory of Open Access Journals (Sweden)

    Čorkalo Milena

    2016-01-01

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

  3. 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)

  4. Negotiating Values in the Creative Industries

    DEFF Research Database (Denmark)

    together a team of distinguished scholars to examine art fairs, biennales, auctions, book fairs, television programming markets, film festivals, animation film festivals, country music festivals, fashion weeks, wine classifications and wine-tasting events. This diverse set of studies shows that such events......Fairs, festivals and competitive events play a crucial role in the creative industries; yet their significance has been largely overlooked. This book explores the role of such events through a series of studies that include some of the most iconic fairs and festivals in the world. It brings...... perspective on the role and importance of fairs, festivals and competitive events in the creative industries....

  5. 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)

  6. 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.

  7. 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.

  8. Marketingová komunikace fair trade

    OpenAIRE

    Nídlová, Michaela

    2013-01-01

    This thesis focuses on how fair trade and its brand are communicated on the market. The theoretical part describes the basic concepts of marketing, marketing communication and marketing research. The practical part describes the general meaning of fair trade and its main principles and goals. The following section is devoted to the analysis of recent marketing activities. The main research investigates the level of knowledge of fair trade among Czech consumers. The conclusion summarizes the r...

  9. CONVERGENCES AND DIVERGENCES RELATED TO FAIR VALUE

    OpenAIRE

    Ionica Oncioiu; Florin Razvan Oncioiu; Daniela Simona Nenciu

    2012-01-01

    Many authors present the advantages of fair value accounting, but others contest this concept, because of its volatility and subjective tendency of the models used for the evaluation. The advantages of fair value include utility, relevance, transparency and superior accuracy of the results, provides more clarity to the financial statements, it provides a total accounting of the comparable value and it gives more liability to the manager. However, critics of fair value accounting do not provid...

  10. Fair value accounting – pros and cons

    OpenAIRE

    Gorgieva-Trajkovska, Olivera; Temjanovski, Riste; Koleva, Blagica

    2016-01-01

    Fair value accounting continues to be a topic of significant interest and debate among the preparers and users of financial information. Fair value continues to be an important measurement basis in financial reporting. It provides information about what an entity might realize if it sold an asset or might pay to transfer a liability. In recent years, the use of fair value as a measurement basis for financial reporting has been expanded, even as the debate over its usefulness to stakeholders c...

  11. FAIR PLAY I N TURKISH SOCIAL LIFE

    Directory of Open Access Journals (Sweden)

    Mikail TEL

    2014-07-01

    Full Text Available We can say that we start hearing term of fair play since last 30 years in our country. While it is a sportive term it also represents respectfulness toward all mutual rights, symbol of being just and honest also we can determine it as basic moral values wh ich needs to be practise. Expression and teaching of Fair play fact starts with family and it needs to be thought as a life discipline which should appear in society. Term of Fair play isn‟t only an organizing term for sportive interrelations it also ne eds to be taken as a cultural fact. It is a way of life. Term of Fair play is a way of thinking and acting so it is is above all of sport branches. It is behaviors and emotions which are accepted as conditions of being a perfect human being by Turkish society. Purpose of this study is to investigate perspective of Turkish society toward Fair play and find lived / real fair play events to set as sample. Term of Fair play, cultural values among Turkish society and real Fair play events had been studied carefully within the theorical scope. This research is a theorical study. Screening the resources used as method for this study. Tried to investigate works, articles and researches had been done about this field and interpret the facts which can be acc epted as sample for Fair play.

  12. 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...

  13. ENDOWMENT LIFE INSURANCE

    Directory of Open Access Journals (Sweden)

    Zeljko Sain

    2013-06-01

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

  14. Group Life Insurance

    CERN Multimedia

    2013-01-01

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

  15. The PANDA detector at FAIR

    International Nuclear Information System (INIS)

    Bersani, Andrea

    2012-01-01

    The PANDA detector will be installed at FAIR to enterprise a long-term, wide-spectrum physics program in the strong interaction framework. The detector will be installed at the HESR accumulation ring, which will provide an anti-proton beam of unprecedented luminosity and momentum definition. The beam will interact with an internal target. The detector has been designed to allow a 4π coverage around the interaction region. Due to the relatively high energy of the beam, up to 15 GeV, PANDA will feature two magnetic spectrometers: the target spectrometer (TS), with a superconducting solenoid and covering the interaction region, and a forward spectrometer (FS), with a normal-conducting dipole and covering the small angles region. Since the physics program is wide and the requirements on the various subsystems are different, the detector has been designed to be as flexible as possible. The complete detector will be described in detail, both from the viewpoint of the proposed techniques and from the viewpoint of the expected performances. An overview of the status of various components of the detector will be presented, too.

  16. The PANDA detector at FAIR

    Science.gov (United States)

    Bersani, Andrea

    2012-10-01

    The PANDA detector will be installed at FAIR to enterprise a long-term, wide-spectrum physics program in the strong interaction framework. The detector will be installed at the HESR accumulation ring, which will provide an anti-proton beam of unprecedented luminosity and momentum definition. The beam will interact with an internal target. The detector has been designed to allow a 4π coverage around the interaction region. Due to the relatively high energy of the beam, up to 15 GeV, PANDA will feature two magnetic spectrometers: the target spectrometer (TS), with a superconducting solenoid and covering the interaction region, and a forward spectrometer (FS), with a normal-conducting dipole and covering the small angles region. Since the physics program is wide and the requirements on the various subsystems are different, the detector has been designed to be as flexible as possible. The complete detector will be described in detail, both from the viewpoint of the proposed techniques and from the viewpoint of the expected performances. An overview of the status of various components of the detector will be presented, too.

  17. Fuel performance analysis code 'FAIR'

    International Nuclear Information System (INIS)

    Swami Prasad, P.; Dutta, B.K.; Kushwaha, H.S.; Mahajan, S.C.; Kakodkar, A.

    1994-01-01

    For modelling nuclear reactor fuel rod behaviour of water cooled reactors under severe power maneuvering and high burnups, a mechanistic fuel performance analysis code FAIR has been developed. The code incorporates finite element based thermomechanical module, physically based fission gas release module and relevant models for modelling fuel related phenomena, such as, pellet cracking, densification and swelling, radial flux redistribution across the pellet due to the build up of plutonium near the pellet surface, pellet clad mechanical interaction/stress corrosion cracking (PCMI/SSC) failure of sheath etc. The code follows the established principles of fuel rod analysis programmes, such as coupling of thermal and mechanical solutions along with the fission gas release calculations, analysing different axial segments of fuel rod simultaneously, providing means for performing local analysis such as clad ridging analysis etc. The modular nature of the code offers flexibility in affecting modifications easily to the code for modelling MOX fuels and thorium based fuels. For performing analysis of fuel rods subjected to very long power histories within a reasonable amount of time, the code has been parallelised and is commissioned on the ANUPAM parallel processing system developed at Bhabha Atomic Research Centre (BARC). (author). 37 refs

  18. Experience Studies on Determining Life Premium Insurance Ratings: Practical Approaches

    Directory of Open Access Journals (Sweden)

    Mirela CRISTEA

    2008-01-01

    Full Text Available The focus of this article is to present the modelling tehcniques used on international practice in the evaluation of right life premiums based. The knowledge and models obtained have a common element of mortality risk indicators but these are varied in different parts of the world. The common elements of these studies and models are generally based on a series of indicators which mainly point out their probability of survival and they are named the mortality indicators. These indicators represent the basis for the calculation of the premiums quotes and for the elaboration by the insurers of premium tables. The benefit for the policyholder is to obtain insurance at a fair and competitive price and for the insurer, to maintain the experience of its portfolio in line with mortality assumptions.

  19. 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.

  20. 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.

  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. Dental insurance! Are we ready?

    Directory of Open Access Journals (Sweden)

    Ravi SS Toor

    2011-01-01

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

  3. 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.

  4. 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

  5. Insurance against nuclear risks

    International Nuclear Information System (INIS)

    Dow, J.C.

    1976-01-01

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

  6. Fairness through Transparency: The Influence of Price Transparency on Consumer Perceptions of Price Fairness

    OpenAIRE

    Sandra Rothenberger

    2015-01-01

    This study proposes that price transparency is a significant factor affecting customer judgments of the fairness of sellers’ prices. Cognitive judgments of fairness require a certain amount of information processing; therefore, the level of transparency and the amount of price information affect fairness judgments. The more clear information consumers possess concerning seller prices, the more positive the judgment will be. Customer price fairness judgment is an effective measurement for the ...

  7. American nuclear insurers

    International Nuclear Information System (INIS)

    Oliveira, R.A.

    1988-01-01

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

  8. Lectures on insurance models

    CERN Document Server

    Ramasubramanian, S

    2009-01-01

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

  9. The Entrepreneur Fair: Fifth Grade Student Businesses

    Science.gov (United States)

    Moore, Teresa

    2010-01-01

    In twenty years of teaching, the author has never been involved in a project that sparked as much enthusiasm from students, parents, the administration, and other teachers as the Entrepreneur Fair. In an effort to challenge students to become entrepreneurs, the author developed a one-day market called the Entrepreneur Fair at Stonewall Elementary…

  10. 7 CFR 735.111 - Fair treatment.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Fair treatment. 735.111 Section 735.111 Agriculture Regulations of the Department of Agriculture (Continued) FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE... treatment. (a) Contingent upon the capacity of a warehouse, a warehouse operator will deal in a fair and...

  11. Fair Access to Higher Education: Global Perspectives

    Science.gov (United States)

    Mountford-Zimdars, Anna, Ed.; Sabbagh, Daniel, Ed.; Post, David, Ed.

    2015-01-01

    What does "fairness" mean internationally in terms of access to higher education? Increased competition for places in elite universities has prompted a worldwide discussion regarding the fairness of student admission policies. Despite budget cuts from governments--and increasing costs for students--competition is fierce at the most…

  12. Fair value accounting and managerial discretion

    NARCIS (Netherlands)

    Byrne, A.; Clacher, I.; Hillier, D.; Hodgson, A.

    2008-01-01

    We analyse the extent to which managers exercise discretion under fair value accounting and the value relevance of these disclosures. Utilising a sample of firms that apply the UK fair value pension accounting standard, (FRS-17), we examine the main determinants of the assumptions managers use to

  13. Theory of Mind Enhances Preference for Fairness

    Science.gov (United States)

    Takagishi, Haruto; Kameshima, Shinya; Schug, Joanna; Koizumi, Michiko; Yamagishi, Toshio

    2010-01-01

    The purpose of the current study was to examine the role of theory of mind in fairness-related behavior in preschoolers and to introduce a tool for examining fairness-related behavior in children. A total of 68 preschoolers played the Ultimatum Game in a face-to-face setting. Acquisition of theory of mind was defined as the understanding of false…

  14. Fairness concerns and cooperation in context

    NARCIS (Netherlands)

    Rezaei Khavas, T.

    2016-01-01

    Interaction settings offering identical choices result in different behaviour when they are presented in different frames or when they are conducted in different contexts. This thesis investigates the influence of various contexts on people’s fairness and fairness-driven cooperative behaviour. We

  15. Formal analysis of a fair payment protocol

    NARCIS (Netherlands)

    J.G. Cederquist; M.T. Dashti (Mohammad)

    2004-01-01

    textabstractWe formally specify a payment protocol. This protocol is intended for fair exchange of time-sensitive data. Here the ?-CRL language is used to formalize the protocol. Fair exchange properties are expressed in the regular alternation-free ?-calculus. These properties are then verified

  16. Formal Analysis of a Fair Payment Protocol

    NARCIS (Netherlands)

    Cederquist, J.G.; Dashti, M.T.

    2004-01-01

    We formally specify a payment protocol. This protocol is intended for fair exchange of timesensitive data. Here the μCRL language is used to formalize the protocol. Fair exchange properties are expressed in the regular alternation-free μ-calculus. These properties are then verified using the finite

  17. Formal Analysis of a Fair Payment Protocol

    NARCIS (Netherlands)

    Cederquist, J.G.; Dashti, Muhammad Torabi; Dimitrakos, Theo; Martinelli, Fabio

    We formally specify a payment protocol described by Vogt et al. This protocol is intended for fair exchange of time-sensitive data. Here the mCRL language is used to formalize the protocol. Fair exchange properties are expressed in the regular alternation-free mu-calculus. These properties are then

  18. Promoting Fair Food-to-Consumer Communication

    DEFF Research Database (Denmark)

    Barratt, Daniel; Hviid Madsen, Mai; Smith, Viktor

    2012-01-01

    with authoritative definitions (adding experts’ final judgments). The research is part of the cross-disciplinary research project “Spin or fair speak – when foods talk” which aims at providing new knowledge, tools, and experimental evidence for promoting fairness in food naming and labelling practices....

  19. FAIR VALUE ACCOUNTING AND EARNINGS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Pei-Hui Hsu

    2016-04-01

    Full Text Available Many have argued that measuring financial instruments at fair value might not reflect firms’ financial condition. Prior study finds that managers manipulate the “disclosure” of fair value measurement (Song et al. 2010. In this study, we attempt to provide evidence regarding manager’s incentive to manipulate the disclosure of fair value measurements by examining whether the disclosure of less relevant fair value measurement is related to the odds of earnings management. We find that firms with more Level 3 assets and liabilities (i.e., less value relevant fair value measurement are more likely to recognize positive unrealized gains to meet or beat analyst forecast target. In addition, we find that only firms with weak corporate governance disclose more Level 3 fair value liabilities and recognize unrealized gains into reported earnings to meet or beat analyst forecast target. This evidence suggests that managers manipulate the disclosure of fair value measurement in order to manage reported earnings via the adoption of fair value option.

  20. Fair Optimization and Networks: A Survey

    Directory of Open Access Journals (Sweden)

    Wlodzimierz Ogryczak

    2014-01-01

    Full Text Available Optimization models related to designing and operating complex systems are mainly focused on some efficiency metrics such as response time, queue length, throughput, and cost. However, in systems which serve many entities there is also a need for respecting fairness: each system entity ought to be provided with an adequate share of the system’s services. Still, due to system operations-dependant constraints, fair treatment of the entities does not directly imply that each of them is assigned equal amount of the services. That leads to concepts of fair optimization expressed by the equitable models that represent inequality averse optimization rather than strict inequality minimization; a particular widely applied example of that concept is the so-called lexicographic maximin optimization (max-min fairness. The fair optimization methodology delivers a variety of techniques to generate fair and efficient solutions. This paper reviews fair optimization models and methods applied to systems that are based on some kind of network of connections and dependencies, especially, fair optimization methods for the location problems and for the resource allocation problems in communication networks.

  1. High school science fair and research integrity

    Science.gov (United States)

    Dalley, Simon; Shepherd, Karen; Reisch, Joan

    2017-01-01

    Research misconduct has become an important matter of concern in the scientific community. The extent to which such behavior occurs early in science education has received little attention. In the current study, using the web-based data collection program REDCap, we obtained responses to an anonymous and voluntary survey about science fair from 65 high school students who recently competed in the Dallas Regional Science and Engineering Fair and from 237 STEM-track, post-high school students (undergraduates, 1st year medical students, and 1st year biomedical graduate students) doing research at UT Southwestern Medical Center. Of the post-high school students, 24% had competed in science fair during their high school education. Science fair experience was similar overall for the local cohort of Dallas regional students and the more diverse state/national cohort of post-high school students. Only one student out of 122 reported research misconduct, in his case making up the data. Unexpectedly, post-high school students who did not participate in science fair anticipated that carrying out science fair would be much more difficult than actually was the case, and 22% of the post-high school students anticipated that science fair participants would resort to research misconduct to overcome obstacles. No gender-based differences between students’ science fair experiences or expectations were evident. PMID:28328976

  2. Fair packet scheduling in Wireless Mesh Networks

    KAUST Repository

    Nawab, Faisal; Jamshaid, Kamran; Shihada, Basem; Ho, Pin Han

    2014-01-01

    ordering of timestamps among neighboring nodes is sufficient for enforcing local fairness, subsequently leading to flow rate fairness in a multi-hop WMN. We show that TMAC can be implemented using the control frames in IEEE 802.11, and thus can be easily

  3. A note on fair value accounting in a crisis: The influence of the hedge accounting regulations

    OpenAIRE

    Beisland, Leif Atle

    2010-01-01

    Published version of an article published in the journal: Business and Economics Journal. Also available from the publisher at: http://astonjournals.com/manuscripts/Vol2010/BEJ-13_Vol2010.pdf The role of fair value accounting in the financial crisis is contorversial and heavily debated. Some claim that fair value accounting of financial instruments contributed to the recent crisis. This note acknowledges that, in many industries, a significant proportion of the financial instruments are en...

  4. 75 FR 4100 - Affirmative Fair Housing, Marketing (AFHM) Plan-Multifamily Housing, Affirmative Fair Housing...

    Science.gov (United States)

    2010-01-26

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5376-N-01] Affirmative Fair Housing, Marketing (AFHM) Plan-Multifamily Housing, Affirmative Fair Housing Marketing (AFHM) Plan-Single Family Housing and Affirmative Fair Housing Marketing (AFHM) Plan- Cooperatives/Condominiums AGENCY: Office of...

  5. FAIR VALUE IMPLICATIONS ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2014-12-01

    Full Text Available Fair value generated intense debate during the last years, as the financial turmoil influenced many economies and capital markets, including the Romanian ones, too. Some researchers and professionals consider fair value in charge with the financial crisis and they ask for historical cost accounting basis for financial reporting. Fair value has its supporters, too. They consider that fair value reflects the effects of changes in market conditions when they take place, and accounting information is more reliable in this framework. Following recent regulations, Romanian entities activating on capital market as investors in capital market instruments, or whose shares are traded on a regulated market, must prepare their individual financial statements in accordance with the International Financial Reporting Standards. The study provides some conclusions that could enlarge the utility of fair value related to entities that activate on Romanian capital market.

  6. VALUATION TECHNIQUES USED IN FAIR VALUE MEASUREMENT

    Directory of Open Access Journals (Sweden)

    Cristina-Aurora, BUNEA-BONTAS

    2013-12-01

    Full Text Available Valuation of assets and liabilities involves significant judgements and estimates, especially when fair value measurement is required. Currently, IFRS 13 Fair Value Measurement offers a single and more comprehensive source of guidance that is applied to almost all fair value estimates. When measuring fair value of fixed assets, intangible assets, specified financial assets or liabilities, different valuation techniques may be used: the market approach, the cost approach and the income approach. This article reviews these techniques and points out that different valuation practices may provide different results depending on the item being fair valued and on the inputs used. Also it emphasizes that, in particular circumstances, there is the possibility that a certain technique may be more appropriate than other.

  7. Measuring and Controlling Fairness of Triangulations

    KAUST Repository

    Jiang, Caigui

    2016-09-30

    The fairness of meshes that represent geometric shapes is a topic that has been studied extensively and thoroughly. However, the focus in such considerations often is not on the mesh itself, but rather on the smooth surface approximated by it, and fairness essentially expresses a mesh’s suitability for purposes such as visualization or simulation. This paper focusses on meshes in the architectural context, where vertices, edges, and faces of meshes are often highly visible, and any notion of fairness must take new aspects into account. We use concepts from discrete differential geometry (star-shaped Gauss images) to express fairness, and we also demonstrate how fairness can be incorporated into interactive geometric design of triangulated freeform skins.

  8. Fair trade for coffee producing small-scale farmers in Mexico

    Directory of Open Access Journals (Sweden)

    Nam kwon Mun

    2012-10-01

    Full Text Available The agriculture played an important role in the industrialization process of Mexico. However, the agricultural policy of State has isolated small scale farmers, giving priority just to large agricultural exporters. This study analyzes the implications that can have fair trade for the Mexican small scale farmers. The fair trade tries to cover the production cost and basic necessities for the small scale farmers, making direct ties between producers and consumers. This type of linkage guarantees the minimum price and the extra social payment to the small scale farmers, grouped in cooperatives o associations.Coffee is one of the most known fair trade product, and Mexico is one of the most important coffer exporters of the world. The fair trade of coffee production where many small farmers work is carried out by cooperative like UCIRI (Unión de Comunidades Indígenas de la Región Istmo. The case study shows that fair trade cannot provide complete answers to the all problems that have small farmers. But, since fair trade tries to promote small farmers well-being and many small farmers could get rid of extreme poverty thanks to fair trade, it might be possible to say that fair trade can be one valuable option for the sustainable development of small farmers.

  9. 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...

  10. 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 ...

  11. 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)

  12. 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 ...

  13. 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.

  14. 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

  15. 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...

  16. Voluntary Public Unemployment Insurance

    DEFF Research Database (Denmark)

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

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

  17. Consumers’ Collision Insurance Decisions

    DEFF Research Database (Denmark)

    Austin, Laurel; Fischhoff, Baruch

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

  18. Trends in pension insurance

    Directory of Open Access Journals (Sweden)

    D. Shterev

    2017-12-01

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

  19. HOUSING INSURANCE IN ROMANIA

    Directory of Open Access Journals (Sweden)

    FLOREA IANC MARIA MIRABELA

    2014-12-01

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

  20. Business intelligence for insurance companies

    OpenAIRE

    IGNATIUK A.

    2016-01-01

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