WorldWideScience

Sample records for life insurance industry

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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…

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

    NARCIS (Netherlands)

    Bikker, J.A.|info:eu-repo/dai/nl/06912261X

    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

  7. 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 eff

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

    NARCIS (Netherlands)

    Bikker, J.A.; Gorter, J.

    2008-01-01

    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

  9. 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 consolid

  10. 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 age levels and…

  11. Data Envelopment Analysis with Missing Data: An Application to Life Insurance Industry in Taiwan

    Directory of Open Access Journals (Sweden)

    Yao-Hung Yang

    2014-12-01

    Full Text Available A fuzzy Data Envelopment Analysis model is adopted in this paper to assess the operational efficiency of life insurance companies in Taiwan. The study was conducted from 2008 to 2012 and the data were taken from Taiwan Economic Journal and related financial statements provided by the Taiwan Insurance Institute. The results indicate that the operational efficiency of insurance companies affiliated to financial holding companies appears to be better than that of insurance companies not affiliated with financial holding companies, signifying that the synergy generated after a financial holding company is formed and the cross-selling between its subsidiary groups are highly beneficial to the management of a life insurance company affiliated to such a financial holding company. The chief contribution of this paper is that, in the past, the data envelopment analysis models applied often could not calculate due to missing input and output data. The study adopts the fuzzy linear mathematics to solve the uncertainty.

  12. Performance Evaluation of the Intermediary Channels of Life Insurance Industry in India

    Directory of Open Access Journals (Sweden)

    Sumninder Kaur BAWA

    2016-05-01

    Full Text Available The present study aims to canvass the performance of intermediary channels in Indian Life Insurance Industry viz. individual agents, corporate agents, bancassurance, brokers and direct selling. The conduct of performance has been deliberated in context of business premium collected and number of policies issued by various channels through Two-Way ANOVA. The data has been figured out over the period of seven years, i.e. from 2006- 07 to 2012-13. The findings demonstrate that in the context of premium as well as policy, there is difference in mean scores for various categories of channels, but no difference has been found with respect to time period. Besides the study also measures the augmentation in their performance, through compound annual growth rate (CAGR by using the log linear regression model which reveals that individual agent is the foremost performing channel in terms of generating business. But sustaining efficacy of every channel has become one of the confronting issues for insurance domain.

  13. Corporate, Product and Distribution Strategies in the European Life Insurance Industry

    OpenAIRE

    Paul J M Klumpes; Stefan Schuermann

    2011-01-01

    This paper examines corporate, marketing and product distribution strategies in the cost and revenue efficiency across a sample of life insurers that operate in European markets with the highest insurance concentration and density. We predict that these strategies are also affected by segmentation and cross-country differences in regulatory type (“alpine” vs. “atlantic”), which facilitate managerial opportunistic behaviour in choice of distribution strategy. This contrasts with the standard m...

  14. Role of Data mining in Insurance Industry

    Directory of Open Access Journals (Sweden)

    K. Umamaheswari

    2014-06-01

    Full Text Available n the global era, Insurance systems rapidly a lot of tremendous development in our society. Due to the increased stress in day-to-day life, the growth of demand of insurance increased. Data mining helps insurance firms to discovery useful patterns from the customer database. The purpose of the paper aims to present how data mining is useful in the insurance industry, how its techniques produce good results in insurance sector and how data mining enhance in decision making using insurance data. The conceptual paper is written based on secondary study, observation from various journals, magazines and reports.

  15. Role of Data mining in Insurance Industry

    Directory of Open Access Journals (Sweden)

    K. Umamaheswari

    2015-11-01

    Full Text Available In the global era, Insurance systems rapidly a lot of tremendous development in our society. Due to the increased stress in day-to-day life, the growth of demand of insurance increased. Data mining helps insurance firms to discovery useful patterns from the customer database. The purpose of the paper aims to present how data mining is useful in the insurance industry, how its techniques produce good results in insurance sector and how data mining enhance in decision making using insurance data. The conceptual paper is written based on secondary study, observation from various journals, magazines and reports.

  16. Life insurance after malignant disease.

    Science.gov (United States)

    Fitzgerald, R H

    1981-11-01

    Forty-five life insurance companies responded to a questionnaire on insurance industry attitudes towards patients with a history of malignancy other than skin carcinoma. Although the criteria for acceptance, provisions of the policy, and philosophy about adjuvant treatment varied, all companies would underwrite such patients provided that at application there was no evidence of persistent or recurrent disease or severe complications of therapy. The concept of excess mortality (observed death rates versus standard expected death rates) is used with other factors in calculating premiums. Legal and ethical responsibilities of physicians associated with insurance applications are briefly discussed.

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

    NARCIS (Netherlands)

    Bikker, Jaap; Popescu, Adelina

    2014-01-01

    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 se

  18. 人寿保险行业市场结构及影响因素研究%Research on Market Structure and Influence Factors of Life Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    蒋才芳; 杨俣涛; 陈收

    2015-01-01

    准入退出壁垒、市场集中度、规模经济和范围经济以及产品差异化等是影响人寿保险业市场结构的主要因素。中国保险市场准入、退出的行政性政策壁垒较高,市场集中度较高,属于寡占 III 型市场结构;寿险业保费规模、保险密度、保险深度、保险资产总额占 GDP 的比重、保险资产总额占整个金融资产的比重较低;寿险产品同质化现象较严重。鉴此,应降低市场进入壁垒,建立市场退出机制,达到优化市场结构,提高资源配置效率目的。%Entry & exit barriar,industry market concentration,economy of scale,economy of scope,product differentiation are the main influencing factors of the market structure of the life insurance access and exit mechanism.The study found that:the administrative policies and barri-ers of China's insurance market entry and exit is also high;China's life insurance industry market concentration gradually decreased,but compared with the developed countries,China's life insur-ance industry is of a high degree of market concentration,market structure is oligopolistic type III;China's life insurance premium scale,insurance density,insurance depth,total insurance as-sets accounted for the proportion of GDP,total insurance assets accounted for the proportion of financial assets is relatively low;life insurance products homogenization phenomenon is serious, participating insurance products become the focus and trend of development of the life insurance company;reducing the insurance market entry barriers,and the establishment of the delisting mechanism properly is conducive to optimizing the structure of life insurance market,and impro-ving the allocation efficiency of the life insurance industry resources.

  19. 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)

  20. 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.

  1. Life insurance mathematics

    CERN Document Server

    Gerber, Hans U

    1997-01-01

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

  2. 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 &...

  3. 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.

  4. PREMIUMS CALCULATION FOR LIFE INSURANCE

    Directory of Open Access Journals (Sweden)

    ANA PREDA

    2012-10-01

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

  5. 中国寿险业增长中的人才贡献率研究%The Research of Human Resources Contribution in Life Insurance Industry Growing

    Institute of Scientific and Technical Information of China (English)

    贾广涛

    2012-01-01

    2011年以来,整个寿险业面临增速放缓的巨大压力,如何顺利实现转型发展战略成为关注的焦点。从人才建设角度,利用行业内具有影响力寿险公司作为代表,借鉴国际通用要素贡献率计算方法,对我国寿险业人才贡献率进行了初步测算,并从管理制度、培训体系和企业文化等方面提出了相关政策建议。%Since 2011,the life insurance industry is facing a slowdown pressure,We have paid more attention to realize the transition of development strategy.This paper in the perspective of talent construction,using four influential life insurance company as a representative,draw lessons from international general factor contribution rate calculation method,to estimate Chinese life insurance industry talent contribution rate.

  6. 78 FR 58264 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access

    Science.gov (United States)

    2013-09-23

    ... AFFAIRS 38 CFR Part 9 RIN 2900-AO42 Servicemembers' Group Life Insurance and Veterans' Group Life... Insurance (SGLI), Family SGLI, SGLI Traumatic Injury Protection, and Veterans' Group Life Insurance (all...-AO42 Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information...

  7. Impact of New Accounting Standards for Insurance on Non-life Insurance Industry%保险会计新准则对非寿险业的影响

    Institute of Scientific and Technical Information of China (English)

    姚军梅; 陈月; 王晔

    2012-01-01

    保险会计新准则的变化主要体现在保费收入确认和准备金计量两个方面。由于绝大多数非寿险产品都能通过重大保险风险测试,保费收入几乎没有变化,因此新准则对非寿险业的影响主要体现在准备金计量上。新准则要求非寿险公司运用"三要素法"计量准备金,这将使得非寿险公司的准备金计量方式、财务管理模式和利润情况发生重大变化,对非寿险公司产生近期与远期的深远影响。%There are two major changes in new accounting standards for insurance: one is premium income confirmation,and the other is measurement of reserve.The vast majority of non-life insurance products can be tested by a significant insurance risks and pass the test,but premium income is almost unchanged.Thus,impact of the new standards on non-life insurance industry is mainly reflected in the measurement of reserve.In the new standards,non-life insurance companies are required to apply the "three elements policy" into the measurement of reserve,which will lead to great changes in the measurement of reserve,financial management and profit for non-life insurance companies and will have short-term and long-term impact on these companies as well.

  8. 75 FR 66806 - Nationwide Life Insurance Company, et al.,

    Science.gov (United States)

    2010-10-29

    ... COMMISSION Nationwide Life Insurance Company, et al., Notice of Application October 25, 2010. AGENCY...: Nationwide Life Insurance Company (``NWL''), Nationwide Life and Annuity Insurance Company (``NLAIC... contracts and/or variable life insurance policies issued by the Insurance Companies (collectively,...

  9. 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.

  10. 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.

  11. 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.

  12. Online Business Games in the Insurance Industries – An Attempt to Prepare Attendees for their Later Working Life as Self-employed Workers (doi: 10.3991/ijac.v1i2.605

    Directory of Open Access Journals (Sweden)

    Patrick Blum

    2008-11-01

    Full Text Available In Europe, the basic education for sales personnel in the insurance industries is regulated by law to guarantee a secure customer oriented sales process. This education mainly targets insurance-knowledge, -law, -conditions and the sales process. It does not prepare the attendees for their working life as a self-employed worker. To overcome this problem online business games are used because of their abilities to master complexity, to achieve higher cognitive objectives, to learn from mistakes without risk through trial and error, and to learn from operating experience through time-lapse. On the basis of the online business game “SiVA” – a simulation of an insurance agency – the impact on the future working life of a self-employed worker in the insurance industries is discussed and documented through a survey in one of the leading insurance companies in Germany.

  13. 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...

  14. 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...

  15. Life insurance theory actuarial perspectives

    CERN Document Server

    Vylder, F Etienne

    1997-01-01

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

  16. 76 FR 70510 - Federal Employees' Group Life Insurance Program: New Federal Employees' Group Life Insurance...

    Science.gov (United States)

    2011-11-14

    ... MANAGEMENT Federal Employees' Group Life Insurance Program: New Federal Employees' Group Life Insurance... Management (OPM) is announcing changes in premiums for certain Federal ] Employees' Group Life Insurance... coincided with the implementation of the Federal Employees' Life Insurance Improvement Act, Public Law...

  17. 75 FR 13147 - Integrity Life Insurance Company, et al.;

    Science.gov (United States)

    2010-03-18

    ... COMMISSION Integrity Life Insurance Company, et al.; Notice of Application March 10, 2010. AGENCY: Securities...: Integrity Life Insurance Company (``Integrity''), Separate Account I of Integrity Life Insurance Company (``Integrity Separate Account I''), Separate Account II of Integrity Life Insurance Company...

  18. Modelling in life insurance a management perspective

    CERN Document Server

    Norberg, Ragnar; Planchet, Frédéric

    2016-01-01

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

  19. Considerations on Albanian Life Insurance Market

    Directory of Open Access Journals (Sweden)

    Gentiana Sharku

    2011-03-01

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

  20. Comparative analysis of life insurance market

    Directory of Open Access Journals (Sweden)

    Malynych, Anna Mykolayivna

    2011-05-01

    Full Text Available The article deals with the comprehensive analysis of statistic insight into development of the world and regional life insurance markets on the basis of macroeconomic indicators. The author located domestic life insurance market on the global scale, analyzed its development and suggested the methods to calculate the marketing life insurance index. There was also approbated the mentioned methods on database of 77 countries all over the world. The author also defined the national rating on the basis of marketing life insurance index.

  1. Return Smoothing Mechanisms in Life and Pension Insurance

    DEFF Research Database (Denmark)

    Montserrat, Guillén; Jørgensen, Peter Løchte; Nielsen, Jens Perch

    2006-01-01

    Traditional with-profits pension saving schemes have been criticized for their opacity, plagued by embedded options and guarantees, and have recently created enormous problems for the solvency of the life insurance and pension industry. This has fueled creativity in the industry's product...

  2. Life Insurance Actuarial Model with Returnable Premium

    Institute of Scientific and Technical Information of China (English)

    YanhuaiLang

    2004-01-01

    Insurance is the important aspect of finance. It has been fully developed in the western developed countries. With the fast development of market economy in our country,it is necessary to introduce the alien modern theories and techniques, and at the same time,adapt them to our concrete situation. The model of general life insurance product is to be established in this paper, including deferred life annuities, increasing whole life insurance and returnable premiums. Then through the regulation of various parameters, we can obtain various insurance products.

  3. Life insurance: genomic stratification and risk classification.

    Science.gov (United States)

    Joly, Yann; Burton, Hilary; Knoppers, Bartha Maria; Feze, Ida Ngueng; Dent, Tom; Pashayan, Nora; Chowdhury, Susmita; Foulkes, William; Hall, Alison; Hamet, Pavel; Kirwan, Nick; Macdonald, Angus; Simard, Jacques; Van Hoyweghen, Ine

    2014-05-01

    With the development and increasing accessibility of new genomic tools such as next-generation sequencing, genome-wide association studies, and genomic stratification models, the debate on genetic discrimination in the context of life insurance became even more complex, requiring a review of current practices and the exploration of new scenarios. In this perspective, a multidisciplinary group of international experts representing different interests revisited the genetics and life insurance debate during a 2-day symposium 'Life insurance: breast cancer research and genetic risk prediction seminar' held in Quebec City, Canada on 24 and 25 September 2012. Having reviewed the current legal, social, and ethical issues on the use of genomic information in the context of life insurance, the Expert Group identified four main questions: (1) Have recent developments in genomics and related sciences changed the contours of the genetics and life insurance debate? (2) Are genomic results obtained in a research context relevant for life insurance underwriting? (3) Should predictive risk assessment and risk stratification models based on genomic data also be used for life insurance underwriting? (4) What positive actions could stakeholders in the debate take to alleviate concerns over the use of genomic information by life insurance underwriters? This paper presents a summary of the discussions and the specific action items recommended by the Expert Group.

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

    NARCIS (Netherlands)

    Lobo-Guerrero, Luis

    2014-01-01

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

  5. Sets, Probability and Statistics: The Mathematics of Life Insurance.

    Science.gov (United States)

    Clifford, Paul C.; And Others

    The practical use of such concepts as sets, probability and statistics are considered by many to be vital and necessary to our everyday life. This student manual is intended to familiarize students with these concepts and to provide practice using real life examples. It also attempts to illustrate how the insurance industry uses such mathematic…

  6. 基于RSCP框架的寿险公司风险与产业组织关系%The Relationship between Risk and Industrial Organization of Life Insurance Industry:A Study Based on the RSCP Frame

    Institute of Scientific and Technical Information of China (English)

    王汝志

    2012-01-01

    Based on the analytical framework of R (risk scenario), S (market structure), C (corporate behavior), and P( economic performance), this paper built a new theory to study the relationship between the risk of life insur- ance company and the industrial organization of life insurance industry, using the factor analysis method to build the index system of risk of life insurance companies. The exponential analysis showed that with the increase of risk index, the market share and competitive behaviors of the life insurance company would also increase, but it would decrease the operational efficiency of the life insurance company. And life insurance companies with different risk characteristics and business sizes followed different economic rules in their market operation.%论文基于风险状况(R)-市场结构(S)-公司行为(C)-经济效率(P)的分析框架,通过因子分析计算寿险公司风险,在此基础上进行了寿险公司风险与产业组织关系的实证分析。实证结果表明:风险指数的提升,可以提高寿险公司的市场份额与竞争努力程度,但会降低其经营效率;不同风险特点与规模结构的寿险公司在寿险市场的运行中服从不同的经济规律。

  7. 78 FR 54691 - American General Life Insurance Company, et al.

    Science.gov (United States)

    2013-09-05

    ... COMMISSION American General Life Insurance Company, et al. August 29, 2013, AGENCY: The Securities and... Life Insurance Company (``American General''), The United States Life Insurance Company in the City of New York (``US Life'') (each, an ``Insurance Company'' and together, the ``Insurance Companies''),...

  8. 5 CFR 870.701 - Eligibility for life insurance.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Eligibility for life insurance. 870.701... REGULATIONS (CONTINUED) FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM Annuitants and Compensationers § 870.701 Eligibility for life insurance. (a) When an insured employee retires, Basic life insurance...

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

    Science.gov (United States)

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

    2004-01-01

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

  10. Establishment of life insurance benefits, 1986.

    Science.gov (United States)

    1988-01-01

    In 1986, Nanjing County in Fujian Province, China, established life insurance policies for only children. Families with only one child paying insurance premiums of 40 yuan will be refunded medical expenses exceeding 200 yuan incurred in caring for the child from birth to age 16.

  11. Insuring Life : Value, Security and Risk

    NARCIS (Netherlands)

    Lobo-Guerrero, Luis

    2016-01-01

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

  12. Empirical Test of the Relationship on Life Insurance Industry and Economic Growth in China%中国寿险业发展与经济增长关系的实证研究

    Institute of Scientific and Technical Information of China (English)

    刘玉焕

    2012-01-01

    Based on the data over the period from the first quarter of 2000 to the first quarter of 2012, this article examined the relationship between the life insurance industry development and the growth of GDP with the VEC model. The results showed that the development of life insurance industry was the granger causes for the growth of GDP in short and medium term, while GDP growth impact the development of the life insurance in short term. In the end, this article suggested that the government should improve the personal disposable income, insurance awareness and favored policy to support the development of the life insurance industry.%利用2000Q1~2012Q1的中国寿险保费和实际GDP数据,建立VEC模型并进行Granger因果关系检验。实证结果表明:在短期,寿险保费与GDP互为因果关系;在中期,寿险业发展是经济增长的Granger原因,但经济增长对寿险业发展作用并不显著;在长期,寿险业发展与经济增长不存在格兰杰因果关系。间接说明了寿险业发展潜力巨大,面临的宏观环境有待改善。建议在加快和规范寿险市场发展的同时,加大对寿险的政策支持力度,提高寿险有效需求。

  13. 5 CFR 870.301 - Eligibility for life insurance.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Eligibility for life insurance. 870.301... REGULATIONS (CONTINUED) FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM Eligibility § 870.301 Eligibility for life insurance. (a) Each nonexcluded employee is automatically insured for Basic insurance unless...

  14. 76 FR 24572 - Proposed Information Collection (Application for Ordinary Life Insurance) Activity: Comment Request

    Science.gov (United States)

    2011-05-02

    ... AFFAIRS Proposed Information Collection (Application for Ordinary Life Insurance) Activity: Comment... Insurance, Replacement Insurance for Modified Life Reduced at Age 65, National Service Life Insurance, VA Form 29-8485. b. Application for Ordinary Life Insurance, Replacement Insurance for Modified...

  15. 41 CFR 60-741.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

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

  16. 75 FR 60833 - Jackson National Life Insurance Company, et al.;

    Science.gov (United States)

    2010-10-01

    ... COMMISSION Jackson National Life Insurance Company, et al.; Notice of Application September 27, 2010. AGENCY... National Life Insurance Company (``Jackson''), Jackson National Life Insurance Company of New York... Companies and serve as the underlying investment vehicles for the variable life insurance contracts...

  17. [Hypertension, smoking and life insurance].

    Science.gov (United States)

    Lund-Johansen, P

    1975-11-01

    The insurance companies' data on blood-pressure and longevity have certainly contributed to the trend among both laymen and doctors to take hypertension more seriously. Smoking is also of special interest, having proved to be a clear risk-factor in coronary disease. It holds a unique position, in that - at least theoretically - it would be possible to eliminate. The insurance companies could undoubtedly contribute to an altered attitude towards the problem of smoking. Non-smokers might be granted a bonus and heavy smokers be charged an additional premium.

  18. 78 FR 68103 - Transamerica Life Insurance Company, et al; Notice of Application

    Science.gov (United States)

    2013-11-13

    ... COMMISSION Transamerica Life Insurance Company, et al; Notice of Application November 6, 2013. AGENCY: The.... Applicants: Transamerica Life Insurance Company (``TLIC''), Transamerica Financial Life Insurance Company...: Transamerica Life Insurance Company and Separate Account VA B, Transamerica Financial Life Insurance......

  19. 77 FR 54621 - Pruco Life Insurance Company, et al;

    Science.gov (United States)

    2012-09-05

    ... COMMISSION Pruco Life Insurance Company, et al; Notice of Application August 29, 2012. AGENCY: Securities and... Section 17(a) of the Act. Applicants: Pruco Life Insurance Company (``Pruco Life''), Pruco Life Flexible Premium Variable Annuity Account (``Pruco Life Variable Annuity Account''), Pruco Life Insurance...

  20. Life cycle responses to health insurance status.

    Science.gov (United States)

    Pelgrin, Florian; St-Amour, Pascal

    2016-09-01

    This paper studies the lifetime effects of exogenous changes in health insurance coverage (e.g. Medicare, PPACA, termination of employer-provided plans) on the dynamic optimal allocation (consumption, leisure, health expenditures), status (health and wealth), and welfare. We solve, simulate, and structurally estimate a parsimonious life cycle model with endogenous exposure to morbidity and mortality risks, and exogenous health insurance. By varying coverage, we identify the marginal effects of insurance when young and/or when old on allocations, statuses, and welfare. Our results highlight positive effects of insurance on health, wealth and welfare, as well as mid-life substitution away from healthy leisure in favor of more health expenses, caused by peaking wages, and accelerating health issues.

  1. Analysis of regional difference of life insurance industry based on Theil index%基于锡尔系数的寿险业区域差异分析

    Institute of Scientific and Technical Information of China (English)

    苏恒轩

    2011-01-01

    Regional inequality of life insurance industry obviously exists in terms of premium and insurance density. By dividing the life insurance market into four areas, East, Middle, West and Northeast, the spatial difference of life insurance using the method of Theil coefficient was measured. The outcome of an empirical analysis shows that provincial inequality within these areas is a mainl cause of the regional difference of life insurance, while the difference among the areas has a lower contribution to the overall difference although it is also a source of regional inequality. The result implies that it is necessary to develop a new method of insurance region division which can reflect the level of insurance development so as to provide guidance on life insurance catering to specific circumstances.%从保费收入和保险密度指标来看,我国寿险业的发展呈现出区域不平衡的特征.基于东、中、西、东北的四大保险区域划分方法,引入锡尔系数对寿险业的区域差异程度进行实证测度.结果表明:寿险业发展不平衡的主因在于各个区域内部的省际差异,而区域之间的差异对整体差异的贡献度不如区域内部差异,且区域间差异呈现下降趋势.根据这一实证结果,为了针对地区保险市场差异进行区域保险政策制定,有必要打破传统的地带保险区划方法,根据保险业发展程度进行区域划分,从而进行分类指导.

  2. 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.

  3. 26 CFR 1.819-2 - Foreign life insurance companies.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Foreign life insurance companies. 1.819-2... TAX (CONTINUED) INCOME TAXES Miscellaneous Provisions § 1.819-2 Foreign life insurance companies. (a) Carrying on United States insurance business. Section 819(a) provides that a foreign life insurance...

  4. 32 CFR 552.67 - Life insurance policy content.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 3 2010-07-01 2010-07-01 true Life insurance policy content. 552.67 Section 552... Reservations § 552.67 Life insurance policy content. Insurance policies offered and sold on Army installations... premium based on the length of time the policy has been in force. (f) Variable life insurance policies...

  5. Strategies for Development of Shaanxi’s Agricultural Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

    This paper introduces current situations of agricultural insurance market in Shaanxi Province. It is indicated that development of Shaanxi’s agricultural insurance industry is faced with following difficulties. First, risks of agricultural production are various, occurrence frequency is high and losses are great. Second, effective supply of commercial insurance companies for agriculture is seriously inadequate. Third, farmers’ demand for agricultural insurance is restricted by many factors. Fourth, government support for agricultural insurance is not generous. Then, it puts forward strategies for development of agricultural insurance in Shaanxi Province. These include: encourage commercial insurance companies to actively enter agricultural insurance market; establish perfect agricultural reinsurance system; strengthen propaganda of agricultural insurance and speed up agricultural industrialization; enhance policy support for agricultural insurance to promote its development.

  6. 基于非寿险分析的营业税改增值税对保险业的影响研究%Impact Of Change From Business Tax To VAT On The Insurance Industry--For Non-life Insurance

    Institute of Scientific and Technical Information of China (English)

    张德周; 赵明利

    2014-01-01

    保险业并未纳入2012年“营改增”范围,但是我国现行保险业营业税制度滞后于我国保险业的发展,因此随着“营改增”试点的进展,保险业进行增值税改革将是大势所趋。本文拟通过借鉴新西兰的反计还原法,设置我国非寿险业增值税制度,运用数据模拟分析“营改增”对非寿险业的影响。%Insurance was not included in the range of change from business tax to VAT in 2012. But our current insurance business tax system lagged behind the development of China’s insurance. So with the development of change from business tax to VAT, insurance industry for VAT reform wil be the trend. We intended to design the VAT system for China’ s non-life insurance by learning from New Zealand, and to study the impact of change from business tax to VAT on non-life insurance.

  7. 中国寿险业资产风险、产品风险与资本的关系%The Relations among Asset Risk, Product Risk and Capital in the Chinese Life Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    安超; 卞小娇

    2013-01-01

      本文检验了我国寿险业资产风险、产品风险与资本之间的关系。文章运用2005-2011年33家寿险公司的非平衡面板数据,建立联立方程的局部调整模型。研究发现:我国寿险公司的资本与资产风险并没有显著的相关性,资本与产品风险有显著的正相关,资产风险与产品风险方面有显著负相关。这说明我国保险业的风险监管制度在资产配置方面的影响力还没有发挥显著的作用;在产品开发和产品风险评估方面发挥了显著作用。%  The paper explores the relation among asset risk, product risk and capital in the Chinese life insurance industry. To examine this issue, we use the unbalanced panel data of 33 life-insurance companies from 2005 to 2011, and use a simultaneous-equation partial-adjustment model. A significant finding is that, for the Chinese life insurers the relation between capital and asset risk is not significant, but the relation between capital and product risk is positive, and the relation between asset risk and product risk is negative. This tells that the risk regulation system of Chinese life insurance industry does not have a significant influence on insurers’ asset allocation, but does work on product development and product risk assessment.

  8. 41 CFR 60-300.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life insurance and other benefit plans. 60-300.25 Section 60-300.25 Public Contracts and Property Management..., life insurance and other benefit plans. (a) An insurer, hospital, or medical service company,...

  9. 41 CFR 60-250.25 - Health insurance, life insurance and other benefit plans.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Health insurance, life insurance and other benefit plans. 60-250.25 Section 60-250.25 Public Contracts and Property Management..., life insurance and other benefit plans. (a) An insurer, hospital, or medical service company,...

  10. Insurance industry troubles put pension, annuity plans at risk; experts urge checkup.

    Science.gov (United States)

    Pallarito, K

    1991-08-05

    Because of recent troubles in the insurance industry, most notably the state seizure of Newark, N.J.-based Mutual Benefit Life Insurance Co., it's a good time for hospitals and associations that sponsor pension and annuity plans to check up on the financial health of their investments, experts say. The rapid rise in "non-performing" mortgages held by insurance companies is among the maladies putting plans at risk.

  11. Actuarial models of life insurance with stochastic interest rate

    Science.gov (United States)

    Wei, Xiang; Hu, Ping

    2009-07-01

    On the basis of general actuarial model of life insurance, this article has carried on research to continuous life insurance actuarial models under the stochastic interest rate separately. And it provide net single premium for life insurance and life annuity due over a period based on that de Moivre law of mortality and Makeham's law of mortality separately.

  12. REVISITING LIFE INSURANCE IN ISLAMIC LAW

    Directory of Open Access Journals (Sweden)

    K. M. Zakir Hossain SHALIM

    2016-08-01

    Full Text Available Life insurance can provide individuals with an important financial planning tool through which they can obtain financial security for their families and businesses as the prime objective of life insurance is undertaking a responsibility towards safeguarding widows, orphans and other dependents of the deceased (assured / policyholder from unexpected future material risks. However, it is not surprising that until now throughout the Muslim world the burning question of the day is whether life insurance is permissible or not? Indeed, a heated controversy has been raging over this problem, and Muslim jurists are divided into two groups on this issue. Some hold it permissible with certain conditions that should be imposed on it; and others reject it without considering any condition for its permissibility. Interestingly, both groups have supported their views, according to their understanding of the proofs and sources of Islamic law, which have created much confusion in the Muslim world. Hence, this article intends to re-examine the concept of life insurance and different views of Muslim jurists on this issue, in order to determine the preferable view in this regard.

  13. 26 CFR 20.2042-1 - Proceeds of life insurance.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Proceeds of life insurance. 20.2042-1 Section... Proceeds of life insurance. (a) In general. (1) Section 2042 provides for the inclusion in a decedent's gross estate of the proceeds of insurance on the decedent's life (i) receivable by or for the benefit...

  14. Life Insurance: A Suggested Adult Business Education Course.

    Science.gov (United States)

    New York State Education Dept., Albany. Bureau of Continuing Education Curriculum Development.

    This course is aimed at the buyer or potential buyer of life insurance for the purpose of helping him to a better understanding of life insurance and of aiding him in making decisions about his own life insurance coverage. It is structured to be taught one evening a week for six to eight weeks. Each session would last about two hours. The course…

  15. 5 CFR 870.706 - Reinstatement of life insurance.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Reinstatement of life insurance. 870.706... REGULATIONS (CONTINUED) FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM Annuitants and Compensationers § 870.706 Reinstatement of life insurance. (a) An annuitant whose disability annuity terminates because...

  16. Life insurance and breast cancer risk assessment: adverse selection, genetic testing decisions, and discrimination.

    Science.gov (United States)

    Armstrong, Katrina; Weber, Barbara; FitzGerald, Genevieve; Hershey, John C; Pauly, Mark V; Lemaire, Jean; Subramanian, Krupa; Asch, David A

    2003-07-30

    Life insurance industry access to genetic information is controversial. Consumer groups argue that access will increase discrimination in life insurance premiums and discourage individuals from undergoing genetic testing that may provide health benefits. Conversely, life insurers argue that without access to risk information available to individuals, they face substantial financial risk from adverse selection. Given this controversy, we conducted a retrospective cohort study to evaluate the impact of breast cancer risk information on life insurance purchasing, the impact of concerns about life insurance discrimination on use of BRCA1/2 testing, and the incidence of life insurance discrimination following participation in breast cancer risk assessment and BRCA1/2 testing. Study participants were 636 women who participated in genetic counseling and/or genetic testing at a University based clinic offering breast cancer risk assessment, genetic counseling, and BRCA1/2 testing between January 1995 and May 2000. Twenty-seven women (4%) had increased and six (1%) had decreased their life insurance since participation in breast cancer risk assessment. The decision to increase life insurance coverage was associated with predicted breast cancer risk (adjusted OR 1.03 for each 1% absolute increase in risk, 95% CI 1.01-1.10) and being found to carry a mutation in BRCA1/2 (OR 5.10, 95% CI 1.90-13.66). Concern about life insurance discrimination was inversely associated with the decision to undergo BRCA1/2 testing (RR 0.67, 95% CI 0.52-0.85). No respondent reported having life insurance denied or canceled. In this cohort of women, these results indicate that information about increased breast cancer risk is associated with increase in life insurance purchasing, raising the possibility of adverse selection. Although fear of insurance discrimination is associated with the decision not to undergo BRCA1/2 testing, there was no evidence of actual insurance discrimination from BRCA1

  17. Life Insurance Makes Great Contributions to the Country-- An exclusive interview with AIA Beijing General Manager

    Institute of Scientific and Technical Information of China (English)

    Sun Yongjian

    2005-01-01

    @@ "It is my belief that life insurance industry makes great contributions to a country. I have come to Beijing to fight for this belief instead of making a lot of money" said Mr. Simpson Hsu, General Manager of AIA Beijing.

  18. Leontieve矩阵在寿险行业投入产出分析中的应用%The use of Leontieve Matrix about Analysise of Input and output of Life Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    任勇

    2012-01-01

    Leontieve Matrix analysized input and output of System of National Accounts on condition of General equilibrium.The method is based on the study of amount of input and output and the determination of division criterion and directive expenditure index.On the base of Leontieve Matrix,Fujian life insurance industry is analysized about input and output as a whole.So that help the development of Fujian life insurance industry.%Leontieve矩阵法以瓦尔拉均衡为前提,对国民经济体系的投入产出进行研究。该方法侧重于投入产出总量的研究,依赖于产业划分标准和直接消耗系数的确定。在Leontieve矩阵法的基础上,把2007-2011年福建寿险行业作为均衡整体,进行投入产出分析研究。可以为福建寿险行业的健康发展提供有益的帮助。

  19. Life, health, and disability insurance: understanding the relationships.

    Science.gov (United States)

    Jerry, Robert H

    2007-01-01

    Communitarian values are stronger in health insurance than in life or disability insurance. This correlates with increased tolerance for insurers' use of genetic information in disability insurance underwriting, which, in turn, is relevant to the scope and content of proposals to regulate such use.

  20. Empirical Analysis of the Relation between Diversification and Performance in China Life Insurance Industry%寿险公司产品多元化经营对绩效影响的实证分析

    Institute of Scientific and Technical Information of China (English)

    郭洪川; 徐传谌

    2015-01-01

    Diversification is the important trend for the development of China’s insurance industry ,but w hether it could benefit the insurance company’s performance is a question worth exploring .The paper analyzes the effects of corporate diversification on its performance using panel data from Chinese forty‐eight life insurance companies during the period 2003~2012 .The analysis shows that there is a significant nonlinear relation be‐tween product diversification and performance in China’s life insurance companies ,and higher degree of diversi‐fication is not necessarily better ,but there exists an optimal value .The size and public company variables have significant impact on performance ,while geographic diversification and other variables’ impact on firm per‐formance are not significant .%产品多元化是我国寿险公司经营发展的鲜明特征,但多元化能否给寿险公司经营绩效带来益处是值得探究的问题。文章以我国48家主要寿险公司2003~2012年面板数据对产品多元化与经营绩效关系的实证分析表明,寿险公司产品多元化经营与绩效存在显著的非线性关系,多元化程度并非越高越好,而是存在最优值。寿险公司资产规模、是否为上市公司与绩效存在显著的关系,而区域多元化等变量对公司绩效的影响不显著。

  1. 26 CFR 1.7702-2 - Attained age of the insured under a life insurance contract.

    Science.gov (United States)

    2010-04-01

    ... years. However, X has an actual age of 64 as of the date the face amount of the contract is increased... 26 Internal Revenue 13 2010-04-01 2010-04-01 false Attained age of the insured under a life... age of the insured under a life insurance contract. (a) In general. This section provides guidance...

  2. Unit-Linked Life Insurance Products Versus Other Alternative Investments

    OpenAIRE

    Cristina Ciumas; Diana-Maria Chis

    2015-01-01

    Unit-linked insurance is a life insurance policy with investment component. An important component of the activity carried out by the insurance companies is the investment of the premiums paid by policyholders in various types of assets, in order to obtain higher yields than those guaranteed by the insurance contracts, while providing the necessary liquidity for the payment of insurance claims in case of occurrence of the assumed risks. This research contributes to the existing literature reg...

  3. 38 CFR 8.7 - Reinstatement of National Service Life Insurance except insurance issued pursuant to section 1925...

    Science.gov (United States)

    2010-07-01

    ... Service Life Insurance except insurance issued pursuant to section 1925 of title 38 U.S.C. 8.7 Section 8.7 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS NATIONAL SERVICE LIFE INSURANCE Reinstatement § 8.7 Reinstatement of National Service Life Insurance except insurance issued pursuant to...

  4. Life Insurance In Russia: Features Of Regional Development

    Directory of Open Access Journals (Sweden)

    Evgenia Leonidovna Prokopjeva

    2015-03-01

    Full Text Available Life insurance is the economic tool allowing to accumulate large monetary funds at the level of the country, regions and certain insurers, and also providing growth of a standard of living of citizens and social stability in society. Subject matter of the research is the economic aspects of development of life insurance in regions of Russia. The purpose of the work — to carry out the comparative analysis of functioning of the markets for life insurance in territorial subjects of the Russian Federation, to reveal regularities and distinctive features of development of the markets and to define further prospects of branch. Methods of research: analysis, comparison, induction, analogy, mathematical modeling were used. The main results of research: life insurance — a demanded financial product in Moscow, but in regions of Russia demand for it is extremely limited; economic indicators of the market have low values and vary on territorial subjects of the Russian Federation; statistics of a variation confirm heterogeneity of functioning of the life insurance marketin comparison with the insurance market in general; life insurance volumes in regions of Russia significantly depend on activity of real sector of economy, thus have practically no close interrelation with the income of the population. Collaboration of authorities of all levels and insurance community is necessary for effective development of the life insurance marketin regions. The special attention has to be paid to price policy of insurers, increase of transparency of the movement of their financial streams and guarantees of recoverability of means of insurers.

  5. Life Insurance: Who Needs It? Teacher's Guide [and] Student Material

    Science.gov (United States)

    Turner, Elaine

    A unit to acquaint secondary school students with the basics of life insurance is presented. The document contains student materials and a teacher's guide. Objectives are to evaluate the four basic types of life insurance (term, whole life, limited payment life, and endowment), compare prices of policies, recognize the difference between…

  6. Recent developments in health insurance, life insurance, and disability insurance case law.

    Science.gov (United States)

    Hasman, Joseph J; Chittenden, William A; Doolin, Elizabeth G; Wall, Julie F

    2008-01-01

    This survey reviews significant state and federal court decisions from 2006 and 2007 involving health, life, and disability insurance. Also reviewed is a June 2008 Supreme Court decision in the disability insurance realm, affirming that a conflict of interest exists when an ERISA plan sponsor or insurer fulfills the dual role of determining plan benefits and paying those benefits but noting that the conflict is merely one factor in considering the legality of benefit denials. In addition, this years' survey includes compelling decisions in the life and health arena, including cases addressing statutory penalties and mandated benefits, as well as some ERISA decisions of note. This year, the Texas Supreme Court held that Texas's most recent version of the prompt payment statute abolished the common law interpleader exception and allowed the prevailing adverse claimant in an interpleader action filed beyond the sixty-day statutory period to recover statutory interest and attorney fees from the insurer. Meanwhile, the Court of Appeals of New York upheld the constitutionality of a statute mandating coverage for contraceptives in those employer-sponsored health plans that offer prescription drug coverage, including those plans sponsored by faith-based social service organizations. In the ERISA context, litigants continue to fight over the standard of review with varying results. In a unique assault on the arbitrary and capricious standard of review, the Fourth Circuit found that an ERISA plan abused its discretion when it failed to apply the doctrine of contra proferentem to construe ambiguous plan terms against itself. In more hopeful news for plan insurers, the Tenth Circuit held that claimants are not entitled to review and rebut medical opinions generated during the administrative appeal of a claim denial before a final decision is reached unless such reports contain new factual information.

  7. Life Insurance Cash Flows with Policyholder Behavior

    Directory of Open Access Journals (Sweden)

    Kristian Buchardt

    2015-07-01

    Full Text Available The problem of the valuation of life insurance payments with policyholder behavior is studied. First, a simple survival model is considered, and it is shown how cash flows without policyholder behavior can be modified to include surrender and free policy behavior by calculation of simple integrals. In the second part, a more general disability model with recovery is studied. Here, cash flows are determined by solving a modified Kolmogorov forward differential equation. We conclude the paper with numerical examples illustrating the methods proposed and the impact of policyholder behavior.

  8. With Profit Contracts in Life Insurance

    Directory of Open Access Journals (Sweden)

    Katarina Sakálová

    2006-12-01

    Full Text Available A basic idea of a with profit policy is that the policyholder accepts a lower guarantee (sum assured for the same premium, than he would accept under an equivalent without profit policy. In return for a lower guarantee, the policy has the right to share in the profits of the life insurance company. In order to qualify for such entitlement the policyholder will pay a higher premium that if the benefit was an amount stated in the contract. This paper describes a number of different methods that are used in various parts of the world to allocate profits to policy-holders.

  9. Applied Research of IoV in Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    BI Xiang; LIU Zheng-yu; LIU Ning-bo; ZHANG Li

    2014-01-01

    A vehicle intelligent terminal is designed to collect vehicle state information and driver behavior information based on the application of Internet of Vehicle in the insurance industry, and data of 12 risk factors affecting the traffic safety is extracted from the information. The Principal Component Analysis is improved and PCA based on the index significant priority is proposed, using which the data of risk factors is processed and 3 principal components are obtained as the pricing factor of the insurance industry.

  10. 26 CFR 1.831-3 - Tax on insurance companies (other than life or mutual), mutual marine insurance companies, mutual...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Tax on insurance companies (other than life or mutual), mutual marine insurance companies, mutual fire insurance companies issuing perpetual policies...-3 Tax on insurance companies (other than life or mutual), mutual marine insurance companies,...

  11. China life insurance industry productive efficiency change's demonstrative analysis——based on MALMQUIST index%中国寿险业生产效率变化的实证分析——基于MALMQUIST指数

    Institute of Scientific and Technical Information of China (English)

    林峰

    2012-01-01

    本文运用dea方法,总结其他学者参数设计的利弊,从财务管理角度重新调整了参数及其构成内容,结果发现中国寿险业全要素生产率尽管得益于追赶效应实现了2005~2009年连年大幅净增长,而且中外资各有千秋,但是沿面移动效应,即技术创新、管理创新等非常差,这意味着寿险业整体后劲不足,实现集约式增长任重而道远。%This study learns lessons from other scholars' advantages and disadvantages in parametric design,makes use of DEAP2.1 and renews factors from the perspective of financial management.The Malmquist index shows that Chinese?insurance industry achieves a successive net big increase in total factor productivity from 2005-2009 and Chinese vs foreign companies each has its own merits,which benefits from efficiency change,but technology change is very bad.That is to say that the total ability of Chinese life insurances to make further advances stays shortage and there is a long way to go for the transformation of development mode.

  12. Interdependence of life insurance service quality and premium

    Directory of Open Access Journals (Sweden)

    Dragan Benazić

    2006-12-01

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

  13. 76 FR 56504 - Proposed Information Collection (Claim for Disability Insurance Benefits, Government Life...

    Science.gov (United States)

    2011-09-13

    ... AFFAIRS Proposed Information Collection (Claim for Disability Insurance Benefits, Government Life Insurance) Activity: Comment Request. AGENCY: Veterans Benefits Administration, Department of Veterans... information technology. Title: Claim for Disability Insurance Benefits, Government Life Insurance, VA Form...

  14. [Rare diseases from a life insurance perspective].

    Science.gov (United States)

    Senn, A; Filzmaier, K

    2015-12-01

    A rare disease is defined as a disease that affects a maximum of 5 in 10,000 people. As of today there are roughly 7000 different rare diseases known. On account of this one can say that "rare diseases are rare, but people affected by them are common". For Germany this amounts to: 4 million people that are affected by a rare disease. Diagnosis, therapeutic options and prognosis have substantially improved for some of the rare diseases. Besides the general medical advances--especially in the area of genetics--this is also due to networking and sharing information by so-called Centres of Competence on a national and international scale. This results in a better medical care for the corresponding group of patients. Against this backdrop, the number of people applying for life assurance who are suffering from a complex or rare disease has risen steadily in the last years. Due to the scarce availability of data regarding long-term prognosis of many rare diseases, a biomathematical, medical and actuarial expertise on the part of the insurer is necessary in order to adequately assess the risk of mortality and morbidity. Furthermore there is quite a focus on the issue of rare diseases from not only politics but society as well. Therefore evidence based medical assessment by insurers is especially important in this group of applicants--thinking of legal compliance and reputational risk.

  15. 26 CFR 1.831-1 - Tax on insurance companies (other than life or mutual), mutual marine insurance companies, and...

    Science.gov (United States)

    2010-04-01

    ... companies (other than life or mutual), mutual marine insurance companies, and mutual fire insurance companies issuing perpetual policies. (a) All insurance companies, other than life or mutual or foreign... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Tax on insurance companies (other than life...

  16. 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)

  17. Life insurance investment and stock market participation in Europe.

    Science.gov (United States)

    Cavapozzi, Danilo; Trevisan, Elisabetta; Weber, Guglielmo

    2013-03-01

    In most European countries life insurance has played a key role in household portfolios, to the extent that it has often been the first asset ever purchased. In this paper we use life history data from a host of European countries to investigate the role of life insurance investment in shaping individuals' attitudes towards participation in stocks and mutual funds. We show that individuals who purchased a life insurance policy are more likely to invest in stocks and mutual funds later. On the one hand, these findings support the notion that life insurance policies play an educational role in financial investment. On the other hand, they are also consistent with behavioural models where economic agents are first concerned with avoiding unacceptable adverse scenarios by purchasing low risk investments, such as life insurance policies, and then invest in riskier assets, such as stocks and mutual funds, to obtain higher economic returns.

  18. Models of Non-Life Insurance Mathematics

    Directory of Open Access Journals (Sweden)

    Constanta Nicoleta BODEA

    2008-01-01

    Full Text Available In this communication we will discuss two regression credibility models from Non – Life Insurance Mathematics that can be solved by means of matrix theory. In the first regression credibility model, starting from a well-known representation formula of the inverse for a special class of matrices a risk premium will be calculated for a contract with risk parameter q. In the next regression credibility model, we will obtain a credibility solution in the form of a linear combination of the individual estimate (based on the data of a particular state and the collective estimate (based on aggregate USA data. Mathematics Subject Classification: 62P05.

  19. 20 CFR 416.1230 - Exclusion of life insurance.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Exclusion of life insurance. 416.1230 Section 416.1230 Employees' Benefits SOCIAL SECURITY ADMINISTRATION SUPPLEMENTAL SECURITY INCOME FOR THE AGED, BLIND, AND DISABLED Resources and Exclusions § 416.1230 Exclusion of life insurance. (a) General....

  20. 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

  1. 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

  2. Life Insurance in Republic of Macedonia – Luxury or Necessity

    Directory of Open Access Journals (Sweden)

    Gordana Vitanova

    2014-05-01

    Full Text Available Individual’s life is uncertain and limited, such as are his working life and working ability, therefore life insurance represents a manner of managing with risks which may be expressed through the lack of means for subsistence in a certain period of life or protection of the individual or the members of his family in financial terms. By having a life insurance policy one invests in his own security, protects his loved ones, while saving and planning their own future. Life insurance policy is a long-term solution that combines the safest savings and reliability. There is a tradition of having a life insurance policy in the developed countries, while in the Republic of Macedonia the number of individuals with life insurance is still very small. In this paper we will do a research on the perception of the population in the country regarding the benefits of owning a life insurance policy, limiting factors and measures to increase the contracts on life insurance.

  3. 77 FR 3842 - Proposed Information Collection (Conversion from Servicemembers' Group Life Insurance to Veterans...

    Science.gov (United States)

    2012-01-25

    ... AFFAIRS Proposed Information Collection (Conversion from Servicemembers' Group Life Insurance to Veterans' Group Life Insurance); Comment Request AGENCY: Veterans Benefits Administration, Department of Veterans... members, especially service members with disabilities are informed about their life insurance...

  4. 77 FR 20886 - Agency Information Collection (Conversion From Servicemembers' Group Life Insurance to Veterans...

    Science.gov (United States)

    2012-04-06

    ... AFFAIRS Agency Information Collection (Conversion From Servicemembers' Group Life Insurance to Veterans' Group Life Insurance); Activity Under OMB Review AGENCY: Veterans Benefits Administration, Department of... Evaluation of the Conversion Privilege from Servicemembers' Group Life Insurance (SGLI) to Veterans'...

  5. 76 FR 24570 - Proposed Information Collection (Veterans Mortgage Life Insurance-Change of Address Statement...

    Science.gov (United States)

    2011-05-02

    ... AFFAIRS Proposed Information Collection (Veterans Mortgage Life Insurance--Change of Address Statement... Mortgage Life Insurance. DATES: Written comments and recommendations on the proposed collection of... information technology. Title: Veterans Mortgage Life Insurance--Change of Address Statement, VA Form...

  6. Life insurance for living kidney donors: a Canadian undercover investigation.

    Science.gov (United States)

    Yang, R C; Young, A; Nevis, I F P; Lee, D; Jain, A K; Dominic, A; Pullenayegum, E; Klarenbach, S; Garg, A X

    2009-07-01

    Some living kidney donors encounter difficulties obtaining life insurance, despite previous surveys of insurance companies reporting otherwise. To better understand the effect of donation on insurability, we contacted offices of life insurance companies in five major cities in Canada to obtain $100 000 of life insurance (20-year term) for 40 fictitious living kidney donors and 40 paired controls. These profiles were matched on age, gender, family history of kidney disease and presence of hypertension. The companies were blinded to data collection. The study protocol was reviewed by the Office of Research Ethics. The main study outcomes were the annual premium quoted and total time spent on the phone with the insurance agent. All donor and control profiles received a quote, with no significant difference in the premium quoted (medians $190 vs. $209, p = 0.89). More time was spent on the phone for donor compared to control profiles, but the absolute difference was small (medians 9.5 vs. 7.0 min, p = 0.046). Age, gender, family history of kidney disease and new-onset hypertension had no further effect on donor insurability in regression analysis. We found no evidence that kidney donors were disadvantaged in the first step of applying for life insurance. The effect donation has on subsequent phases of insurance underwriting remains to be studied.

  7. Aspects of Valuation and Optimization in Life Insurance

    DEFF Research Database (Denmark)

    Henriksen, Lars Frederik Brandt

    strategy for a portfolio of general life insurance contracts by using the criterion of local risk-minimization. The second paper studies expected policyholder behavior in a multistate Markov chain model with deterministic intensities. Valuation techniques in the cases where policyholder behavior...... is modelled to occur independently or dependently of insurance risk, respectively, are discussed and studied numerically. The impact (quantitatively and computationally) of dierent simplifying assumptions are investigated for representative insurance contracts. In the third paper, we derive worst......Summary This thesis consists, in excess to an introductory chapter, of five papers within the broad area of life insurance mathematics. The last of the papers can also be considered as within the area of non-life insurance mathematics. There is no unifying topic, but many recurrent subtopics...

  8. 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.

  9. The Added Value of Medical Testing in Underwriting Life Insurance

    NARCIS (Netherlands)

    Bronsema, Jan; Brouwer, Sandra; de Boer, Michiel R.; Groothoff, Johan W.

    2015-01-01

    Background In present-day life-insurance medical underwriting practice the risk assessment starts with a standard health declaration (SHD). Indication for additional medical screening depends predominantly on age and amount of insured capital. From a medical perspective it is questionable whether

  10. Life Insurance Liabilities with Policyholder Behaviour and Stochastic Rates

    DEFF Research Database (Denmark)

    Buchardt, Kristian

    In any life and pension insurance company, it is a central task to calculate the value of the liabilities toward the policyholders. In the classic model for such valuations, a continuous time Markov chain in a finite state space describes the state of the insured, and the interest rate, mortality...

  11. 12 CFR 2.3 - Distribution of credit life insurance income.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Distribution of credit life insurance income. 2... CREDIT LIFE INSURANCE § 2.3 Distribution of credit life insurance income. (a) Distribution of credit life... percent), who is involved in the sale of credit life insurance to loan customers of the national bank,...

  12. 26 CFR 1.79-1 - Group-term life insurance-general rules.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Group-term life insurance-general rules. 1.79-1...-term life insurance—general rules. (a) What is group-term life insurance? Life insurance is not group-term life insurance for purposes of section 79 unless it meets the following conditions: (1)...

  13. Growth and Fluctuation of Cross-straits' Financial Cooperation---Evidences from Life Insurance Industry%两岸金融合作的成长与波动--来自寿险市场的证据

    Institute of Scientific and Technical Information of China (English)

    吴祥佑

    2014-01-01

    Based on HP filter, the time series of premium income of the three Taiwan-funded insurers in the mainland can be divided into long-term growth trends and short-term fluctuations. The empirical analysis shows that Shin Kong-hna Life has the strongest growth capacity, King Dragon Life follows it, Cathay Life is the weakest one in the three. It finds that Shin Kong-hna Life and Cathay Life are more like foreign insurers, but King Dragon Life acts alike a mainland-funded insurer. With respect to fluctuation, three insurers are closed correlated with the state of the life insurance marker in the mainland, Cathay Life and King Dragon Life are positively related with the mainland-funded players, but Shin Kong-hna Life is negatively related with the market atmosphere. Cathay Life is more mature than the other two in fluctuation owing to its long-term presence in the mainland. King Dragon Life and Shin Kong-hna Life are highly correlated with and inter-depended on each other in fluctuation.%基于HP滤波分析方法,台资寿险公司保费收入的时间序列可以分解为长期趋势项和短期波动项,便于进行成长与波动分析。三家台资寿险公司的成长性分析表明,新光海航人寿的成长能力最强,君龙人寿次之,国泰人寿最弱;国泰人寿、新光海航人寿与外资公司的整体表现相近,而君龙人寿则与内资公司的整体表现趋同;三家公司保费收入的波动都与大陆寿险市场的整体波动密切相关,但新光海航人寿的波动方向却与整体内资市场相反;君龙人寿和新光海航人寿的波动高度相依,反映了两者的同质性;国泰人寿与内资及外资保费收入的波动同步,反映了其老牌公司的成熟性。

  14. 26 CFR 1.821-4 - Tax on mutual insurance companies other than life insurance companies and other than fire, flood...

    Science.gov (United States)

    2010-04-01

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

  15. DEVELOPMENTS AND TRENDS IN THE LIFE INSURANCE MARKET IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Florina Oana Virlanuta

    2013-12-01

    Full Text Available An essential aspect in the life and evolution of man since ancient times was the concern for the future, fear combined with care and wisdom certainly accomplished something. The events of our lives fast moving and often they occur unpredictably. We need to make sure that our family is safe and receiving all the financial support it needs. Evolving from simple function of protection in case of death, life insurance became more complex, and at the moment we can choose one of the following forms of insurance. Life insurance is a form of financial protection of human in case of an accident, illness, disability or death. In this regard we propose an analysis of the life insurance market in Romania.

  16. Non-life insurance pricing: multi-agent model

    Science.gov (United States)

    Darooneh, A. H.

    2004-11-01

    We use the maximum entropy principle for the pricing of non-life insurance and recover the Bühlmann results for the economic premium principle. The concept of economic equilibrium is revised in this respect.

  17. Non-Life Insurance Pricing: Multi Agents Model

    OpenAIRE

    Amir H. Darooneh

    2004-01-01

    We use the maximum entropy principle for pricing the non-life insurance and recover the B\\"{u}hlmann results for the economic premium principle. The concept of economic equilibrium is revised in this respect.

  18. Some Aspects Regarding the Analysis of the Life Insurance Market

    Directory of Open Access Journals (Sweden)

    Constantin Anghelache

    2009-03-01

    Full Text Available This paper aims to draw-up an analysis of the life insurance market in Romania. This survey is drawn up for the period 2003-2006 and the data used for this analysis were taken over from the Annual Reports published by the Insurance Supervision Commission. Life insurance market in Romania is a steady growing market as a result of the economic growth and the purchase power but is still far away from the development stage of the European markets.

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

    Directory of Open Access Journals (Sweden)

    Srivastava Medha

    2013-06-01

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

  20. Life Insurance Makes Great Contributions to the Country-- An exclusive interview with AIA Beijing General Manager

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

      "It is my belief that life insurance industry makes great contributions to a country. I have come to Beijing to fight for this belief instead of making a lot of money" said Mr. Simpson Hsu, General Manager of AIA Beijing.……

  1. 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.

  2. 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.

  3. The mutual shaping of life insurance and medicine in Finland.

    Science.gov (United States)

    Jauho, Mikko

    2015-08-01

    This article examines the mutual shaping of medicine and private life insurance in Finland before the Second World War. Based on historical texts and archival material, it shows the important effects that the involvement of medicine in client selection for life insurance companies had on medical knowledge and practice. The analysis focuses on the tensions between the main actors in life insurance underwriting--candidates, insurance agents, examining physicians and the central office--as well as the medical examination as the key site of these tensions. The article shows how the introduction of a set of procedural and technical innovations reshaped the medical examination and helped to stabilize the fraught network of life insurance underwriting. These innovations re-scripted medical work. They stressed objective measurable knowledge over the personal skill and clinical acumen of the examining physician, propagated the physical examination and the use of diagnostic technologies and vital standards, multiplied medicine's administrative tasks, and contributed to the introduction of a risk factor approach to medicine. Moreover, the social organization of life insurance promoted the spread of these objects, practices and tasks to other fields of medicine. The case displays how medical innovations are developed through the situated interplay of multiple actors that cuts across the science-society boundary.

  4. Life insurance and genetic test results: a mutation carrier's fight to achieve full cover.

    Science.gov (United States)

    Keogh, Louise A; Otlowski, Margaret F A

    2013-09-01

    Currently, there is debate about life insurance companies' use of genetic information for assessing applicants. In his early 20s, James (pseudonym) was denied full life insurance cover because he revealed that he had discussed genetic testing with a genetic counsellor. He was later tested and found to carry a mutation in the MSH6 gene; after disclosing this, he was denied cover for cancer by two other life insurance companies. Unsatisfied with the insurance companies' risk assessments, and based on his understanding that regular colonoscopy significantly reduced his risk of cancer, James made a complaint to the Australian Human Rights Commission. After informing the third insurance company that he had done so, he was offered full coverage, which suggests that the company did not have actuarial data to justify its decision. This case provides evidence of the high level of initiative and proactivity required for a consumer to achieve a fair result. Few Australians would be in a position to pursue the level of research and advocacy undertaken by James (a professional with scientific training). We call on a collaborative approach between industry, government and researchers to address the issues that James's case raises about genetic testing and life insurance.

  5. [Industrial injury insurance system in the UK].

    Science.gov (United States)

    Muramatsu, Keiji; Kubo, Tatsuhiko; Fujino, Yoshihisa; Matsuda, Shinya

    2013-12-01

    The Industrial Injuries Disablement Benefit (IIDB) is a benefit for people who are disabled either as a result of an accident at work or because of a prescribed disease. IIDB does not cover the self-employed, military personnel, or certain kinds of trainees. "Prescribed diseases" are defined by the Department of Work and Pension in a list of diseases covered by IIDB. Delivery of medical services, such as the medical treatment benefit in Japan, is not included in this scheme because most medical services are provided for in the scheme of the National Health Service (NHS). Prevention Projects, such as the Follow-up Medical Examination Benefits in Japan, are also not included. Benefits for people who have Pneumoconiosis (including asbestosis) are provided in the IIDB scheme.

  6. 76 FR 40451 - Agency Information Collection (Application for Ordinary Life Insurance) Activity Under OMB Review

    Science.gov (United States)

    2011-07-08

    ... AFFAIRS Agency Information Collection (Application for Ordinary Life Insurance) Activity Under OMB Review... INFORMATION: Titles a. Application for Ordinary Life Insurance, Replacement Insurance for Modified Life Reduced at Age 65, National Service Life Insurance, VA Form 29-8485. b. Application for Ordinary...

  7. 26 CFR 1.802-3 - Tax imposed on life insurance companies.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Tax imposed on life insurance companies. 1.802-3... TAX (CONTINUED) INCOME TAXES Life Insurance Companies § 1.802-3 Tax imposed on life insurance... tax on the life insurance company taxable income (as defined in section 802(b) and paragraph (a)...

  8. 26 CFR 1.802(b)-1 - Tax on life insurance companies.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Tax on life insurance companies. 1.802(b)-1...) INCOME TAX (CONTINUED) INCOME TAXES Life Insurance Companies § 1.802(b)-1 Tax on life insurance companies... August 16, 1954, section 802(b) imposes a tax on the 1954 life insurance company taxable income of...

  9. Modeling Flood Insurance Penetration in the European Non-Life Market: An Overview

    Science.gov (United States)

    Mohan, P.; Thomson, M.-K.; Das, A.

    2012-04-01

    Non-life property insurance plays a significant role in assessing and managing economic risk. Understanding the exposure, or property at risk, helps insurers and reinsurers to better categorize and manage their portfolios. However, the nature of the flood peril, in particular adverse selection, has led to a complex system of different insurance covers and policies across Europe owing to its public and private distinctions based on premiums provided as ex ante or ex post, socio-economic characterization and various compensation schemes. To model this significant level of complexity within the European flood insurance market requires not only extensive data research, close understanding of insurance companies and associations as well as historic flood events, but also careful evaluation of the flood hazard in terms of return periods and flood extents, and the economic/ financial background of the geographies involved. This abstract explores different approaches for modeling the flood insurance penetration rates in Europe depending on the information available and complexity involved. For countries which have either a regulated market with mandatory or high penetration rate, as for example found in the UK, France and Switzerland, or indeed countries with negligible insurance cover such as Luxembourg, assumptions about the penetration rates can be made at country level. However, in countries with a private insurance market, the picture becomes inherently more complex. For example in both Austria and Germany, flood insurance is generally restricted, associated with high costs to the insured or not available at all in high risk areas. In order to better manage flood risk, the Austria and German government agencies produced the risk classification systems HORA and ZÜRS, respectively, which categorize risk into four risk zones based on the exceedance probability of a flood occurrence. Except for regions that have preserved mandatory flood inclusion from past policies

  10. DUAL RANDOM MODEL OF INCREASING LIFE INSURANCE FOR MULTIPLE-LIFE STATUS

    Institute of Scientific and Technical Information of China (English)

    ZhangYi; HeWenjiong

    2002-01-01

    In this paper the dual random model of increasing life insurance for multiple-life status is discussed. The rnth moment of the present value of benefits are calculated and the respective expressions of the moments under joint life status or last- survivor status are presented.Fur-thermore,the limiting distribution of average cost of a portfolio of increasing life insurance for multiple-life status is studied.

  11. Statistical methods with applications to demography and life insurance

    CERN Document Server

    Khmaladze, Estáte V

    2013-01-01

    Suitable for statisticians, mathematicians, actuaries, and students interested in the problems of insurance and analysis of lifetimes, Statistical Methods with Applications to Demography and Life Insurance presents contemporary statistical techniques for analyzing life distributions and life insurance problems. It not only contains traditional material but also incorporates new problems and techniques not discussed in existing actuarial literature. The book mainly focuses on the analysis of an individual life and describes statistical methods based on empirical and related processes. Coverage ranges from analyzing the tails of distributions of lifetimes to modeling population dynamics with migrations. To help readers understand the technical points, the text covers topics such as the Stieltjes, Wiener, and Itô integrals. It also introduces other themes of interest in demography, including mixtures of distributions, analysis of longevity and extreme value theory, and the age structure of a population. In addi...

  12. 75 FR 73166 - Agency Information Collection (Claim for One Sum Payment (Government Life Insurance)) Activities...

    Science.gov (United States)

    2010-11-29

    ... AFFAIRS Agency Information Collection (Claim for One Sum Payment (Government Life Insurance)) Activities... Insurance), VA Form 29-4125. b. Claim for Monthly Payments (National Service Life Insurance), VA Form 29-4125a. c. Claim for Monthly Payments (United States Government Life Insurance, (USGLI)), VA Form...

  13. 38 CFR 6.3 - Incontestability of United States Government life insurance.

    Science.gov (United States)

    2010-07-01

    ... United States Government life insurance. 6.3 Section 6.3 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS UNITED STATES GOVERNMENT LIFE INSURANCE Policies § 6.3 Incontestability of United States Government life insurance. Discharge or release of an insured from military or...

  14. 26 CFR 1.594-1 - Mutual savings banks conducting life insurance business.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Mutual savings banks conducting life insurance... savings banks conducting life insurance business. (a) Scope of application. Section 594 applies to the... insurance business, if: (1) The conduct of the life insurance business is authorized under State law,...

  15. 76 FR 40455 - Agency Information Collection (Veterans Mortgage Life Insurance Inquiry) Activity Under OMB Review

    Science.gov (United States)

    2011-07-08

    ... AFFAIRS Agency Information Collection (Veterans Mortgage Life Insurance Inquiry) Activity Under OMB Review... INFORMATION: Title: Veterans Mortgage Life Insurance Inquiry, VA Form 29-0543. OMB Control Number: 2900-0501... insured under Veterans Mortgage Life Insurance (VMLI) completes VA Form 29-0543 to report any...

  16. 26 CFR 1.821-3 - Tax on mutual insurance companies other than life or marine or fire insurance companies subject...

    Science.gov (United States)

    2010-04-01

    ... Premium Deposits) § 1.821-3 Tax on mutual insurance companies other than life or marine or fire insurance... life or marine or fire insurance companies subject to the tax imposed by section 831. 1.821-3 Section 1... (CONTINUED) INCOME TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance...

  17. 26 CFR 1.821-1 - Tax on mutual insurance companies other than life or marine or fire insurance companies subject...

    Science.gov (United States)

    2010-04-01

    ... Premium Deposits) § 1.821-1 Tax on mutual insurance companies other than life or marine or fire insurance... life or marine or fire insurance companies subject to the tax imposed by section 831. 1.821-1 Section 1... (CONTINUED) INCOME TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance...

  18. Market valuation in the framework of modern life insurance mathematics

    Directory of Open Access Journals (Sweden)

    Maja Petrač

    2013-12-01

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

  19. 76 FR 24571 - Proposed Information Collection (Veterans Mortgage Life Insurance Inquiry); Comment Request

    Science.gov (United States)

    2011-05-02

    ... AFFAIRS Proposed Information Collection (Veterans Mortgage Life Insurance Inquiry); Comment Request AGENCY... information needed to maintain Veterans Mortgage Life Insurance accounts. DATES: Written comments and... techniques or the use of other forms of information technology. Title: Veterans Mortgage Life...

  20. 78 FR 36829 - Proposed Information Collection (Veterans Mortgage Life Insurance Statement) Activity: Comment...

    Science.gov (United States)

    2013-06-19

    ... AFFAIRS Proposed Information Collection (Veterans Mortgage Life Insurance Statement) Activity: Comment... solicits comments for information needed to decline Veterans Mortgage Life Insurance. DATES: Written... techniques or the use of other forms of information technology. Title: Veterans Mortgage Life...

  1. Characterising freeze in the UK: applications for the insurance industry

    Science.gov (United States)

    Raven, E. K.; Keef, C.; Busby, K.

    2012-04-01

    The UK winters of 2009-2010 and 2010-2011 were characterised by prolonged and widespread low temperatures. This was challenging for the UK insurance industry and organisations such as the emergency services, the Highways Agency and British Gas who had to manage the extra demands that resulted. In the 6-day period running to Christmas Eve 2010, British Gas reported 100,000 boiler repair call-outs, whilst those 190,000 homes and businesses left with frozen and subsequently burst pipes contributed to the ABI's estimated £ 900 million in insured losses for December 2010 alone; the highest payout by the industry for damages associated with cold weather. Unfortunately, the severity of these winters made the difference between profit and loss for some primary UK insurance companies. To enable better pricing of premiums in the future, insurance companies are looking to understand the potential risk from cold waves at a local, postcode-level, whilst reinsurance firms seek to determine the accumulated loss across the UK associated with spatially coherent events. Other industry sectors also strive to improve their understanding of weather extremes for planning and management. Underpinning this is the need to statistically characterise the physical hazard. Aimed primarily at the re/insurance industry, we have applied an established methodology for developing statistical event sets and applied this to generate a UK freeze event set. An event set provides a stochastic set of several thousand events over 10's of 1000's of years and is typically applied within probabilistic catastrophe models. Our method applies extreme value theory and dependence modelling to explain low-temperature relationships across the UK and over time using historical records. The resulting event set represents the spatial and temporal dependence of cold waves in the UK and is modelled against household factors that increase the vulnerability to freezing conditions, such as property type, age and condition

  2. Diagnosis and improvement of service quality in the insurance industries of Greece and Kenya

    OpenAIRE

    Tsoukatos, E; Marwa, S; Rand, G K

    2004-01-01

    There is widespread customer dissatisfaction in the insurance industry, stemming from insurers' failure to satisfy customers' needs. Therefore, further research to improve the industry's understanding of service quality is required. Using data from the Greek and Kenyan insurance industries, service quality is measured using the SERVQUAL methodology to identify quality determinants and existing quality gaps in the industries. Quality improvement strategies are recommended in each case. Some ob...

  3. The impact of the twin peaks model on the insurance industry ...

    African Journals Online (AJOL)

    The impact of the twin peaks model on the insurance industry. ... the time and international trends have an important influence on lawmakers nationally. ... A further question is whether insurance as a financial service will change dramatically in ...

  4. 77 FR 9708 - Pacific Life Insurance Company, et al.; Notice of Application

    Science.gov (United States)

    2012-02-17

    ... COMMISSION Pacific Life Insurance Company, et al.; Notice of Application February 13, 2012. AGENCY... Insurance Company (``Pacific Life''), Pacific Life & Annuity Company (``PL&A,'' and collectively with Pacific Life and any insurance company controlling, controlled by, or under common control with...

  5. 78 FR 62716 - Pacific Life Insurance Company, et al; Notice of Application

    Science.gov (United States)

    2013-10-22

    ... COMMISSION Pacific Life Insurance Company, et al; Notice of Application October 17, 2013. AGENCY: Securities... 1940, as amended (the ``1940 Act''). Applicants: Pacific Life Insurance Company (``Pacific Life... Street NE., Washington, DC 20549-1090. Applicants: Pacific Life Insurance Company, Separate Account A...

  6. 76 FR 35249 - Allianz Life Insurance Company of North America, et al; Notice of Application

    Science.gov (United States)

    2011-06-16

    ... COMMISSION Allianz Life Insurance Company of North America, et al; Notice of Application June 10, 2011... Section 17(b) of the Act from Section 17(a) of the Act. Applicants: Allianz Life Insurance Company of North America (``Allianz Life'') and Allianz Life Insurance Company of New York (``Allianz...

  7. 76 FR 33003 - TIAA-CREF Life Insurance Company, et al.

    Science.gov (United States)

    2011-06-07

    ... COMMISSION TIAA-CREF Life Insurance Company, et al. June 1, 2011. AGENCY: Securities and Exchange Commission... 1940, as amended (the ``1940 Act''). Applicants: TIAA-CREF Life Insurance Company (``TC LIFE''), TIAA... ``Replacement Portfolio'') under certain variable life insurance policies and variable annuity contracts...

  8. Life-Insurance Deals May Be Costly for Colleges

    Science.gov (United States)

    Wolverton, Brad

    2007-01-01

    In the past two months, nearly 100 colleges have started exploring a financial concept that seems almost too good to be true: collecting hundreds of millions of dollars for long-term capital needs by taking out life-insurance policies on wealthy alumni. The idea started with Oklahoma State University, which said this spring that it had secured…

  9. Measuring the impact of a dependence among insured life lengths

    NARCIS (Netherlands)

    M. Denuit; J. Dhaene; C. Le Bailly De Tilleghem; S. Teghem

    2001-01-01

    Actuaries usually compute multiple life premiums based on the unrealistic assumption of independence of the lifelengths of insured persons. Many clinical studies, however, have demonstrated dependence of the lifetimes of paired lives such as husband and wife. In this respect, the present article tri

  10. Dependent interest and transition rates in life insurance

    DEFF Research Database (Denmark)

    Buchardt, Kristian

    2014-01-01

    For market consistent life insurance liabilities modelled with a multi-state Markov chain, it is of importance to consider the interest and transition rates as stochastic processes, for example in order to consider hedging possibilities of the risks, and for risk measurement. In the literature, t...

  11. Modelling the life insurance needs using the human life value revision method

    Science.gov (United States)

    Hashim, Haslifah; Service, David

    2013-04-01

    There are numerous methods to determine the appropriate amount of life insurance a person needs - it can be scientific or simplistic. Many life insurance agents and financial advisors simply rely on traditional rules of thumb using the multiple of income method. The more scientific methods are the needs analysis and the human life value. The needs analysis is regarded as the most commonly used sales tool and the human life value is the most agreed academic expression for the purpose of life insurance. However, there are several weaknesses of using both methods. By using needs analysis as a sales tool, the recommendation amount of life insurance would leave a person underinsured. Similar goes to the human life value method. Nevertheless, both methods can be improved with a few revisions. The post-death needs under the needs analysis must be revised to incorporate the reality that the family's standard of living changes over time. The projection of a changing standard of living is a part of human life value analysis. Therefore, this research looked into both methods and combines both concept of needs analysis and human life value to create a powerful methodology that provide adequate life insurance protection - a method we name it as 'the Human Life Value Revision Method'.

  12. FY11_EOM_August_Number of Life Insurance Policies by Program by State

    Data.gov (United States)

    Department of Veterans Affairs — Number of life insurance policies for each administered life insurance program listed by state. Data is current as of 08/31/11. All programs are closed to new issues...

  13. 77 FR 37839 - Veterans' Group Life Insurance (VGLI) No-Health Period Extension

    Science.gov (United States)

    2012-06-25

    ... removal of the words ``Servicemembers' Group Life Insurance or,'' which refers to Retired Reservist SGLI... 38 CFR Part 9 Life insurance, Military personnel, Veterans. Dated: June 20, 2012. Robert C....

  14. 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.

  15. The insurance and risk management industries: new players in thedelivery of energy-efficient and renewable energy products andservices

    Energy Technology Data Exchange (ETDEWEB)

    Mills, Evan

    2001-11-26

    The insurance industry is typically considered to have little concern about energy issues. However, the historical involvement by insurers and allied industries in the development and deployment of familiar loss-prevention technologies such as automobile air bags, fire prevention/suppression systems, and anti-theft devices, shows that this industry has a tradition of utilizing technology to improve safety and otherwise reduce the likelihood of losses for which they would otherwise have to pay. Through an examination of the connection between risk management and energy efficiency, we have identified nearly 80 examples of energy-efficient and renewable energy technologies that offer''loss-prevention'' benefits, and have mapped these opportunities onto the appropriate segments of the very diverse insurance sector (life, health,property, liability, business interruption, etc.). Some insurers and risk managers are beginning to recognize these previously un-noticed benefits.This paper presents the business case for insurer involvement in energy efficiency and documents case studies of insurer efforts along these lines. We review steps taken by 52 forward-looking insurers and reinsurers, 5 brokers, and 7 insurance organizations, and 13non-insurance organizations in the energy-efficiency arena. The approaches can be grouped into the categories of: information, education,and demonstration; financial incentives; specialized policies and products; direct investment to promote energy efficiency and renewables; value-added customer services and inspections; efficient codes,standards, and policies; research and development; and in-house energy management in insurer-owned properties. Specific examples include reduced premiums for architects and engineers who practice building commissioning(reduces risk of property loss and liability-related claims), insurer promotion of improved indoor air quality practices (mitigating life,health, and liability risks), and

  16. Queer(ed) risks: life insurance, HIV/AIDS, and the "gay question".

    Science.gov (United States)

    Cobb, Neil

    2010-01-01

    In 2004 the Association of British Insurers (ABI) issued its second Statement of Best Practice on HIV and Insurance. This prohibited use of the "gay question" (employed by some underwriters in application forms for life insurance to identify heightened risk of infection with HIV), in response to growing criticism that the practice was actuarially unreliable, unfair to gay men, and unnecessary, given the availability of alternative "behaviour-based" risk criteria. While the overhaul of this controversial practice is clearly a victory for gay (male) identity politics, this paper argues that the interests of gay men seem to have dominated at the expense of a more far-reaching critique of the industry's evaluation of infection risk. It contends that a more radical (or "queerer") challenge is needed which can better understand and address the injustices created by criteria for appraising risk of infection that still remain in place.

  17. 26 CFR 1.61-22 - Taxation of split-dollar life insurance arrangements.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Taxation of split-dollar life insurance..., and Taxable Income § 1.61-22 Taxation of split-dollar life insurance arrangements. (a) Scope—(1) In general. This section provides rules for the taxation of a split-dollar life insurance arrangement for...

  18. 75 FR 39994 - AXA Equitable Life Insurance Company, et al.; Notice of Application

    Science.gov (United States)

    2010-07-13

    ... COMMISSION AXA Equitable Life Insurance Company, et al.; Notice of Application July 7, 2010. AGENCY... Act. APPLICANTS: AXA Equitable Life Insurance Company (``AXA Equitable''), Separate Account 45 of AXA... (``Separate Account FP'') (together, ``AXA Equitable Separate Accounts''), MONY Life Insurance Company...

  19. 75 FR 56664 - Proposed Information Collection (Claim for One Sum Payment (Government Life Insurance)); Comment...

    Science.gov (United States)

    2010-09-16

    ... AFFAIRS Proposed Information Collection (Claim for One Sum Payment (Government Life Insurance)); Comment.... Claim for One Sum Payment (Government Life Insurance), VA Form 29-4125. b. Claim for Monthly Payments (National Service Life Insurance), VA Form 29-4125a. c. Claim for Monthly Payments (United States...

  20. 77 FR 38396 - Agency Information Collection (Notice of Lapse-Government Life Insurance) Activities Under OMB...

    Science.gov (United States)

    2012-06-27

    ... AFFAIRS Agency Information Collection (Notice of Lapse--Government Life Insurance) Activities Under OMB... INFORMATION: Titles: a. Notice of Lapse--Government Life Insurance, VA Form 29-389. b. Application for... government life insurance has lapsed or will lapse due to nonpayment of premiums. The claimant must...

  1. 31 CFR 500.526 - Transactions involving blocked life insurance policies.

    Science.gov (United States)

    2010-07-01

    ... blocked life insurance policies. (a) The following transactions are hereby authorized: (1) The payment of premiums and interest on policy loans with respect to any blocked life insurance policy; (2) The issuance, servicing or transfer of any blocked life insurance policy in which the only blocked interest is that of...

  2. 77 FR 22069 - Proposed Information Collection (Notice of Lapse-Government Life Insurance); Comment Request

    Science.gov (United States)

    2012-04-12

    ... AFFAIRS Proposed Information Collection (Notice of Lapse--Government Life Insurance); Comment Request... Life Insurance policy. DATES: Written comments and recommendations on the proposed collection of... use of other forms of information technology. Titles a. Notice of Lapse--Government Life Insurance,...

  3. 31 CFR 515.526 - Transactions involving blocked life insurance policies.

    Science.gov (United States)

    2010-07-01

    ... blocked life insurance policies. (a) The following transactions are hereby authorized: (1) The payment of premiums and interest on policy loans with respect to any blocked life insurance policy; (2) The issuance, servicing or transfer of any blocked life insurance policy in which the only blocked interest is that of...

  4. 77 FR 32397 - Servicemembers' Group Life Insurance Traumatic Injury Protection Program-Genitourinary Losses

    Science.gov (United States)

    2012-06-01

    ... AFFAIRS 38 CFR Part 9 RIN 2900-AO20 Servicemembers' Group Life Insurance Traumatic Injury Protection... Servicemembers' Group Life Insurance Traumatic Injury Protection (TSGLI) program by adding certain genitourinary... Servicemembers' Group Life Insurance Traumatic Injury Protection (TSGLI) program to add certain genitourinary...

  5. 76 FR 40451 - Agency Information Collection (Veterans Mortgage Life Insurance-Change of Address Statement...

    Science.gov (United States)

    2011-07-08

    ... AFFAIRS Agency Information Collection (Veterans Mortgage Life Insurance-- Change of Address Statement.... 2900-0503.'' SUPPLEMENTARY INFORMATION: Title: Veterans Mortgage Life Insurance--Change of Address... continued ownership of property issued under Veterans Mortgage Life Insurance when an address change for...

  6. 78 FR 53014 - Agency Information Collection (Claim for One Sum Payment (Government Life Insurance)) Activities...

    Science.gov (United States)

    2013-08-27

    ... AFFAIRS Agency Information Collection (Claim for One Sum Payment (Government Life Insurance)) Activities... for One Sum Payment (Government Life Insurance), VA Form 29-4125. ] b. Claim for Monthly Payments (National Service Life Insurance), VA Form 29-4125a. c. Claim for Monthly Payments (United States...

  7. 75 FR 68038 - Agency Information Collection (Veterans Mortgage Life Insurance Statement) Activity Under OMB Review

    Science.gov (United States)

    2010-11-04

    ... AFFAIRS Agency Information Collection (Veterans Mortgage Life Insurance Statement) Activity Under OMB....'' SUPPLEMENTARY INFORMATION: Title: Veterans Mortgage Life Insurance Statement, VA Form 29-8636. OMB Control... complete VA Form 29-8636 to decline Veterans Mortgage Life Insurance (VMLI) or to provide information...

  8. 78 FR 53175 - The Northwestern Mutual Life Insurance Company, et al.;

    Science.gov (United States)

    2013-08-28

    ... COMMISSION The Northwestern Mutual Life Insurance Company, et al.; Notice of Application Agency: Securities... Section 17(b) of the Act from Section 17(a) of the Act. Applicants: The Northwestern Mutual Life Insurance...''), under each of the variable annuity contracts and variable life insurance policies issued by the...

  9. 5 CFR 352.309 - Retirement, health benefits, and group life insurance.

    Science.gov (United States)

    2010-01-01

    ... life insurance. 352.309 Section 352.309 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL... Organizations § 352.309 Retirement, health benefits, and group life insurance. (a) Agency action. An employee... entitled to retain coverage for retirement, health benefits, and group life insurance purposes if he or...

  10. 78 FR 8601 - AXA Equitable Life Insurance Company, et al; Notice of Application

    Science.gov (United States)

    2013-02-06

    ... COMMISSION AXA Equitable Life Insurance Company, et al; Notice of Application January 31, 2013. AGENCY... the Act from Section 17(a) of the Act. Applicants: AXA Equitable Life Insurance Company (``AXA... Equitable Life Insurance Company, 1290 Avenue of Americas, New York, New York 10104; Patricia Louie,...

  11. 78 FR 47017 - Submission for Review: Designation of Beneficiary: Federal Employees' Group Life Insurance, SF 2823

    Science.gov (United States)

    2013-08-02

    ... MANAGEMENT Submission for Review: Designation of Beneficiary: Federal Employees' Group Life Insurance, SF..., Designation of Beneficiary: Federal Employees' Group Life Insurance, SF 2823. As required by the Paperwork... or retiree covered by the Federal Employees' Group Life Insurance (FEGLI) Program, or an assignee...

  12. 75 FR 75708 - American United Life Insurance Company, et al.; Notice of Application

    Science.gov (United States)

    2010-12-06

    ... COMMISSION American United Life Insurance Company, et al.; Notice of Application November 30, 2010. AGENCY... securities. Applicants: American United Life Insurance Company (``AUL''), AUL American Unit Trust (``AUL.... Applicants: c/o Richard M. Ellery, Esq., American United Life Insurance Company, One American...

  13. 75 FR 68040 - Proposed Information Collection (Veterans Mortgage Life Insurance Statement) Activity: Comment...

    Science.gov (United States)

    2010-11-04

    ... AFFAIRS Proposed Information Collection (Veterans Mortgage Life Insurance Statement) Activity: Comment... solicits comments for information needed to decline Veterans Mortgage Life Insurance. DATES: Written...: Veterans Mortgage Life Insurance Statement, VA Form 29-8636. OMB Control Number: 2900-0212. Type of...

  14. 26 CFR 1. 6039I-1 - Reporting of certain employer-owned life insurance contracts.

    Science.gov (United States)

    2010-04-01

    ... Reporting of certain employer-owned life insurance contracts. (a) Requirement to report. Section 6039I requires every taxpayer that is an applicable policyholder owning one or more employer-owned life insurance...-owned life insurance contracts issued after August 17, 2006, must provide the information required...

  15. 26 CFR 1.381(d)-1 - Operations loss carryovers of life insurance companies.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Operations loss carryovers of life insurance... loss carryovers of life insurance companies. For the application of part V, subchapter C, chapter 1 of the Code to operations loss carryovers of life insurance companies, see section 812(f) and §...

  16. 78 FR 18424 - Proposed Information Collection (Claim for One Sum Payment (Government Life Insurance)); Comment...

    Science.gov (United States)

    2013-03-26

    ... AFFAIRS Proposed Information Collection (Claim for One Sum Payment (Government Life Insurance)); Comment.... Claim for One Sum Payment (Government Life Insurance), VA Form 29-4125. b. Claim for Monthly Payments (National Service Life Insurance), VA Form 29-4125a. c. Claim for Monthly Payments (United States...

  17. 78 FR 58611 - Agency Information Collection (Veterans Mortgage Life Insurance Statement) Activity Under OMB Review

    Science.gov (United States)

    2013-09-24

    ... AFFAIRS Agency Information Collection (Veterans Mortgage Life Insurance Statement) Activity Under OMB... ``OMB Control No. 2900-0212.'' SUPPLEMENTARY INFORMATION: Title: Veterans Mortgage Life Insurance... collection. Abstract: Veterans complete VA Form 29-8636 to decline Veterans Mortgage Life Insurance (VMLI)...

  18. 75 FR 52065 - Proposed Information Collection (Veterans Mortgage Life Insurance Statement) Activity: Comment...

    Science.gov (United States)

    2010-08-24

    ... AFFAIRS Proposed Information Collection (Veterans Mortgage Life Insurance Statement) Activity: Comment... solicits comments for information needed to decline Veterans Mortgage Life Insurance. DATES: Written...: Veterans Mortgage Life Insurance Statement, VA Form 29-8636. OMB Control Number: 2900-0212. Type of...

  19. 26 CFR 1.381(c)(22)-1 - Successor life insurance company.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Successor life insurance company. 1.381(c)(22)-1...) INCOME TAX (CONTINUED) INCOME TAXES Insolvency Reorganizations § 1.381(c)(22)-1 Successor life insurance... the following examples: Example 1. X qualified as a life insurance company in 1949. Y qualified as...

  20. 76 FR 36583 - Submission for Review: Life Insurance Election, Standard Form 2817

    Science.gov (United States)

    2011-06-22

    ... MANAGEMENT Submission for Review: Life Insurance Election, Standard Form 2817 AGENCY: U.S. Office of... to comment on a revised information collection request (ICR) 3206-0230, Life Insurance Election. As...'s coverage through an assignment or ``transfer'' of the ownership of the life insurance)....

  1. 26 CFR 1.264-2 - Single premium life insurance, endowment, or annuity contracts.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Single premium life insurance, endowment, or..., directly or indirectly, to purchase or to continue in effect a single premium life insurance or endowment... payee of such annuity contract. A contract is considered a single premium life insurance, endowment,...

  2. 26 CFR 1.72-16 - Life insurance contracts purchased under qualified employee plans.

    Science.gov (United States)

    2010-04-01

    ... in Gross Income § 1.72-16 Life insurance contracts purchased under qualified employee plans. (a... pension, annuity, or profit-sharing plans for the purchase of life insurance contracts and rules for the... under such plans. For purposes of this section, the term “life insurance contract” means a retirement...

  3. 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.

  4. CORPORATE INSURANCE IN THE RUSSIAN ELECTRIC POWER INDUSTRY

    OpenAIRE

    KIRILLOVA NADEZDA; BAZHENOVA VICTORIA

    2015-01-01

    В статье рассмотрены риски российской энергетической промышленности, которые могут быть компенсированы страховыми программами. Особое внимание уделено тем видам страхования, которые представляются наиболее перспективными для нашей страны.In this article insurance risks of electric power industry of the Russian Federation, corporate insurance of electric power objects are considered. The special attention is paid to the types of insurance inherent in this branch, widespread in the Russian Fede...

  5. Current Situation and Issue of Industrial Accident Compensation Insurance

    Science.gov (United States)

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

    2012-01-01

    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. PMID:22661871

  6. Analysis of the life insurance market in the Republic of Macedonia

    Directory of Open Access Journals (Sweden)

    Andreeski Cvetko

    2012-01-01

    Full Text Available Life insurance in the Republic of Macedonia has a short history, if we do not count the experience of ZOIL Makedonija before the independence of Republic of Macedonia. The recent history of life insurance covers the last seven years and the segment of life insurance comprises about 6% of the total insurance market in the Republic of Macedonia. In this paper we analyse the development of life insurance in the Republic of Macedonia in recent history, taking the gross premiums of two of the best companies that are working in the segment of life insurance. Besides analysing the influence of the basic determinants of the development of life insurance (GDP, monetary stability, social insurance, etc. we analyse the model of time series, with the purpose of making a model and forecasting future values of the series.

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

    Directory of Open Access Journals (Sweden)

    Zhavoronkov A

    2015-01-01

    Full Text Available Alex Zhavoronkov Biogerontology Research Foundation, London, United Kingdom Abstract: 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. Keywords: life expectancy, gerontology, actuarial, retirement, beliefs

  8. A Two-Account Life Insurance Model for Scenario-Based Valuation Including Event Risk

    DEFF Research Database (Denmark)

    Jensen, Ninna Reitzel; Schomacker, Kristian Juul

    2015-01-01

    and unit-linked insurance. By use of a two-account model, we are able to illustrate general concepts without making the model too abstract. To allow for complicated financial markets without dramatically increasing the mathematical complexity, we focus on economic scenarios. We illustrate the use of our......Using a two-account model with event risk, we model life insurance contracts taking into account both guaranteed and non-guaranteed payments in participating life insurance as well as in unit-linked insurance. Here, event risk is used as a generic term for life insurance events, such as death...... product types. This enables comparison of participating life insurance products and unit-linked insurance products, thus building a bridge between the two different ways of formalizing life insurance products. Finally, our model distinguishes itself from the existing literature by taking into account...

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

    Science.gov (United States)

    Baharin, Roziana; Isa, Zaidi

    2013-04-01

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

  10. 18 CFR 367.4262 - Account 426.2, Life insurance.

    Science.gov (United States)

    2010-04-01

    ... insurance. This account must include all payments for life insurance of officers and employees where the... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Account 426.2, Life insurance. 367.4262 Section 367.4262 Conservation of Power and Water Resources FEDERAL ENERGY...

  11. 78 FR 46420 - Proposed Information Collection (Application for Conversion (Government Life Insurance)) Activity...

    Science.gov (United States)

    2013-07-31

    ... AFFAIRS Proposed Information Collection (Application for Conversion (Government Life Insurance)) Activity...: Application for Conversion (Government Life Insurance), VA Form 29-0152. OMB Control Number: 2900-0149. Type... solicits comments for information needed to convert to a permanent plan of insurance. DATES:...

  12. 75 FR 68036 - Proposed Information Collection (Application for Conversion (Government Life Insurance)) Activity...

    Science.gov (United States)

    2010-11-04

    ... AFFAIRS Proposed Information Collection (Application for Conversion (Government Life Insurance)) Activity...: Application for Conversion (Government Life Insurance), VA Form 29-0152. OMB Control Number: 2900-0149. Type... solicits comments for information needed to convert to a permanent plan of insurance. DATES:...

  13. Macro Economy Blooms the Life Insurance Companies in India: An Overview

    Directory of Open Access Journals (Sweden)

    Kartheeswari S

    2012-11-01

    Full Text Available In India, Insurance has been synonymous with LIC. Life Insurance Corporation (LIC was created as an entity in 1956 through LIC Act. The presence of new players in the market has no doubt resulted in enhanced product innovation, distribution models, better services and value added benefits. The significant components of expansion in the life sector have been the enormous growth in unit linked insurance plans and allied services. Though LIC of India require time to adopt themselves to the competitive environment and the associated contemporary structural changes, the post-deregulation period has seen greater diversification in the product offerings with added emphasis on marketing and distribution strategies. Now, insurance is driving the infrastructure sector by increasing investments each year. Further, insurance has boosted the employment scenario in India by providing direct as well as indirect employment opportunities[1]. The insurance market depends on a variety of economic and non-economic factors, and the future performance is difficult to predict. It has been observed that there is a significant relationship between the demand for life insurance and various macroeconomic variables. High growth of GDP induces an economic effect through higher per-capita and disposable income and savings, which in turn create a favourable market demand for life insurance. On the other hand, life insurance also gives support to the capital market and savings of Indian life insurance business. Data pertaining to Indian life insurance and macroeconomic variables broadly indicate a close relationship and interdependence between economic variables and life insurance demand.

  14. Edificio de la Gulf Life Insurance Company, en Florida, USA

    Directory of Open Access Journals (Sweden)

    Welton Becket y Asociados, Arquitectos

    1969-03-01

    Full Text Available This tall building contains the offices of the Gulf Insurance Co. and also a hotel with 302 rooms and a car park. Its various floor levels are largely free of columns, and thus provide a highly diaphanous space, that is easily adaptable to various uses. This Tower is outstanding because of its height, in contrast with the largely horizontal development of the city of Jacksonville, and the beautiful light and shade effects of its external elevations, which give it a dynamic intrigueing quality. There is also a fine contrast between the dark tinge of the glazing and the white coloured structure.Este edificio, desarrollado en altura, además de las oficinas de la firma Gulf Life Insurance Company, contiene un hotel con 302 habitaciones, un aparcamiento, etc. La diafanidad de sus plantas —libres de columnas— ha proporcionado la adecuada flexibilidad para la distribución del espacio interior y la posibilidad de acoger fácilmente futuras necesidades. El edificio Gulf Life Insurance destaca: por su altura —la urbanización de Jacksonville virtualmente horizontal—; por los bellos juegos de luces y sombras que se producen en sus fachadas, que le imprimen variedad y vida; así como también por el contraste entre el vidrio oscuro de los acristalamientos y el hormigón «blanco» de su estructura.

  15. A COMPARATIVE ANALYSIS BETWEEN UNIT-LINKED LIFE INSURANCE AND OTHER ALTERNATIVE INVESTMENTS

    OpenAIRE

    CRISTINA CIUMAS; DIANA-MARIA CHIS

    2015-01-01

    The unit-linked life insurance has two important components: protection and investment. The protection component refers to the insured sum in case of the occurrence of insured risks and the investment component refers to the policyholder’s account that represents the present value of the units from the chosen investment funds.These financial products invest most of the premium paid by the insured person in the funds managed by the insurance company or an external administrator and the lower p...

  16. A COMPARATIVE ANALYSIS BETWEEN UNIT-LINKED LIFE INSURANCE AND OTHER ALTERNATIVE INVESTMENTS

    OpenAIRE

    CRISTINA CIUMAS; DIANA-MARIA CHIS

    2015-01-01

    The unit-linked life insurance has two important components: protection and investment. The protection component refers to the insured sum in case of the occurrence of insured risks and the investment component refers to the policyholder’s account that represents the present value of the units from the chosen investment funds.These financial products invest most of the premium paid by the insured person in the funds managed by the insurance company or an external administrator and...

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

    Science.gov (United States)

    Zhavoronkov, Alex

    2015-01-01

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

  18. A Two-Account Life Insurance Model for Scenario-Based Valuation Including Event Risk

    DEFF Research Database (Denmark)

    Jensen, Ninna Reitzel; Schomacker, Kristian Juul

    2015-01-01

    Using a two-account model with event risk, we model life insurance contracts taking into account both guaranteed and non-guaranteed payments in participating life insurance as well as in unit-linked insurance. Here, event risk is used as a generic term for life insurance events, such as death......, disability, etc. In our treatment of participating life insurance, we have special focus on the bonus schemes “consolidation” and “additional benefits”, and one goal is to formalize how these work and interact. Another goal is to describe similarities and differences between participating life insurance...... model by conducting scenario analysis based on Monte Carlo simulation, but the model applies to scenarios in general and to worst-case and best-estimate scenarios in particular. In addition to easy computations, our model offers a common framework for the valuation of life insurance payments across...

  19. [Change in the panorama of chronic diseases and their insurability by life insurance].

    Science.gov (United States)

    Fröhlich, E M

    1989-05-01

    The health condition of man has changed considerably since life insurance companies have been established. The initial problem of the companies was the fact that many young persons died from tuberculosis. For many decades persons from families with tuberculosis cases or with underweight were not accepted for insurance on their lives. Nevertheless companies observed many deaths causes by this disease. Medical directors and actuaries studied these cases in detail (dates and numbers), even of the deceased. The resulting statistics formed the premium calculation basis for persons with an increased risk. Comparative studies allowed acceptance for more people. Within the last decades when sulfonamides, antibiotics and insulin were discovered and produced the mortality ratio decreased. Nowadays, even persons who suffered from tuberculosis do not present an increased risk anymore. The life expectancy has doubled during the last century. This is why degenerative diseases increased, especially the coronary heart diseases. While thirty years ago the mortality ratio stood at about 500%, improved medical and surgical therapy made prognosis easier and when risk factors can be eliminated the mortality ratio tends to be less than 200%. Since insulin is available, patients with type I-diabetes do not die anymore in coma, the remaining risk is the sclerosis of the vessels. Diabetes with adults increases with overweight, high blood pressure and hyperlipemia. The mortality ratio depends on these risk factors. Morbus Crohn, first described in 1932, seems to increase. Life insurance needs more long-term statistical data. For only some years we are confronted with the immunodeficiency "Aids".(ABSTRACT TRUNCATED AT 250 WORDS)

  20. FY11_EOM_August_Face Amount of Life Insurance Coverage by Program by State

    Data.gov (United States)

    Department of Veterans Affairs — Face value of insurance for each administered life insurance program listed by state. Data is current as of 8-31-11. All programs are closed to new issues except for...

  1. EOM July FY2011 - Face Amount of Life Insurance Coverage by Program by State

    Data.gov (United States)

    Department of Veterans Affairs — Face value of insurance for each administered life insurance program listed by state. Data is current as of 7-31-11. All programs are closed to new issues except for...

  2. FY11_EOM_Oct_Face Amount of Life Insurance Coverage by Program by State

    Data.gov (United States)

    Department of Veterans Affairs — Face value of insurance for each administered life insurance program listed by state. Data is current as of 10-31-11. All programs are closed to new issues except...

  3. [Genetic screening of patients with familial hypercholesterolemia and insurability for life insurance policies and disability cover policies].

    Science.gov (United States)

    Homsma, S J; Lansberg, P J; Kastelein, J J

    2004-03-01

    In the Netherlands, people with familial hypercholesterolaemia (FH) have been actively screened since 1994 by means of DNA analysis. Recently, the Stichting Opsporing Erfelijke Hypercholesterolemie (Foundation for the Detection of Familial Hypercholesterolaemia) initiated a large scale-screening programme aimed at finding all 40,000 people. The Dutch ministry of Health, Welfare and Sport is providing the financial support. Genetic screening has social implications and raises questions on insurability. The Dutch Medical Examination Act prohibits insurers from posing questions about untreatable, serious inheritable conditions for insured sums under a certain value: for life-insurance policies policies insurers can request information for the purpose of an accurate risk classification. Insurance contracts can be accepted at normal rates if the target value of LDL-cholesterol < 4 mmol/l and additional risk factors such as smoking and an abnormal BMI are absent; the risk is determined by the phenotype and clinical factors and not by the genotype.

  4. Aggravation of Risk and Precautionary Measures in Non-Life Insurance: A Tricky Scope for the Insurer?

    Directory of Open Access Journals (Sweden)

    Olavi-Jüri Luik

    2015-12-01

    Full Text Available Aggravation of risk and failure to take precautionary measures are focal issues in non-life insurance in terms of potential partial or full release of the insurer from the duty to perform. Not infrequently, it is difficult to draw a line between the aggravation of risk on the one hand, and non-compliance with precautionary measures on the other, since a particular action by a policyholder may present both situations. At the same time, the legal remedies available to the insurer regarding these two situations are different in scope. The aggravation of risk and non-compliance with precautionary measures are precisely the bases on which insurers actually reduce indemnity or refuse to compensate for damages. This article explores the differences between insurance laws in the Baltic states—specifically, the Estonian Law of Obligations Act, the Latvian Insurance Contract Law and Lithuanian rules contained in the Civil Code and Insurance Law. The article explores the differences between the Baltic states’ insurance laws and the Principles of European Insurance Contract Law (PEICL with regard to a policyholder’s duty in relation to aggravation of risk and precautionary measures, as the rights and obligations of policyholders do change where the optional instrument is applied. The article also includes comparisons to German, Finnish and Russian insurance law.

  5. 26 CFR 31.3401(a)(14)-1 - Group-term life insurance.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 15 2010-04-01 2010-04-01 false Group-term life insurance. 31.3401(a)(14)-1... SOURCE Collection of Income Tax at Source § 31.3401(a)(14)-1 Group-term life insurance. (a) The cost of group-term life insurance on the life of an employee is excepted from wages, and hence is not subject...

  6. The Tree of Industrial Life

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2002-01-01

    The purpose of this paper is to bring forth an interaction between evolutionary economics and industrial systematics. The suggested solution is to reconstruct the "family tree" of the industries. Such a tree is based on similarities, but it may also reflect the evolutionary history in industries...... finding of optimal industrial trees. The results are presented as taxonomic trees that can easily be compared with the hierarchical structure of existing systems of industrial classification....

  7. Corporate social responsibility in the international insurance industry

    NARCIS (Netherlands)

    Scholtens, B.

    2011-01-01

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

  8. 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

  9. 债券保险行业研究%Research on Bond Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    郑时雨

    2015-01-01

    This paper analyzes the basic situation of bond insurance industry. Firstly, the basic concepts and characteristics of bond insurance, the development status of bond insurance industry and the latest situation of bond insurance industry are introduced in this paper. Then theory of the bond insurance involves literature is reviewed, and answered why bond insurance popular, bond insurance can not save interest expense and cost savings from why and come to the three problems. Finally, the future development direction of bond insurance industry is analyzed.%本文分析了债券保险行业的基本情况。首先简要介绍了债券保险的基本概念和主要特点,债券保险行业的发展状况和金融危机背景下债券保险行业的最新状况。然后对债券保险涉及的理论文献进行了梳理,并回答了债券保险为什么流行,债券保险能不能节约利息支出,成本节约从何而来三个问题。最后分析了债券保险行业未来的发展方向。

  10. Modelling home equity conversion loans with life insurance models

    Directory of Open Access Journals (Sweden)

    Baškot Bojan

    2013-01-01

    Full Text Available Home equity represents a reserve that can be used for providing additional money for its owners during their retirement. Life insurance models can be successfully applied to model home equity conversion loans. The home equity conversion loan is a financial product that provides a certain flexibility by using home equity as a resource for a quality life during retirement. Home equity conversion loans do not have a predetermined maturity date, as do conventional loans. But, like every loan, it must be repaid. One potential advantage of using a home equity conversion loan during tough financial times instead of some types of need-based assistance is that eligibility is straightforward. Home equity conversion loans can be useful tools in the process of pension system reform.

  11. 26 CFR 1.79-0 - Group-term life insurance-definitions of certain terms.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Group-term life insurance-definitions of certain....79-0 Group-term life insurance—definitions of certain terms. The following definitions apply for... policy of life insurance is “carried directly or indirectly” by an employer if— (a) The employer pays...

  12. 77 FR 71687 - Federal Employees' Group Life Insurance Program: Court Orders Prior to July 22, 1998

    Science.gov (United States)

    2012-12-04

    ... RIN 3206-AM67 Federal Employees' Group Life Insurance Program: Court Orders Prior to July 22, 1998... the court order expressly provides that an individual receive Federal Employee's Group Life Insurance... Administrative practice and procedure, Government employees, Hostages, Iraq, Kuwait, Lebanon, Life...

  13. Loss analysis of a life insurance company applying discrete-time risk-minimizing hedging strategies

    NARCIS (Netherlands)

    Chen, A.

    2008-01-01

    The present paper investigates the net loss of a life insurance company issuing equity-linked pure endowments in the case of periodic premiums. Due to the untradability of the insurance risk which affects both the in- and outflow side of the company, the issued insurance claims cannot be hedged perf

  14. Loss analysis of a life insurance company applying discrete-time risk-minimizing hedging strategies

    NARCIS (Netherlands)

    Chen, A.

    2008-01-01

    The present paper investigates the net loss of a life insurance company issuing equity-linked pure endowments in the case of periodic premiums. Due to the untradability of the insurance risk which affects both the in- and outflow side of the company, the issued insurance claims cannot be hedged perf

  15. The Tree of Industrial Life

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2002-01-01

    The purpose of this paper is to bring forth an interaction between evolutionary economics and industrial systematics. The suggested solution is to reconstruct the "family tree" of the industries. Such a tree is based on similarities, but it may also reflect the evolutionary history in industries ...

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

    National Research Council Canada - National Science Library

    Masoud Pourkiani; Mehrdad Goudarzvand Chegini; Samin Yousefi; Shiva Madahian

    2014-01-01

    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...

  17. Fraud worries insurance companies but should concern physicians too, industry says

    Science.gov (United States)

    Baer, N

    1997-01-01

    The amount of insurance fraud is increasing in Canada. This should worry physicians, because all personal-injury claims must be substantiated by a medical certificate. The vast majority of physicians are honest and ethical, fraud investigators say, but some are being duped as patients scheme to cheat the insurance industry. In one sensational auto-insurance-fraud case, some Ontario physicians are being investigated about possible involvement in a self-referral scheme. Nicole Baer looks at insurance fraud and the challenges it poses for doctors. PMID:9012734

  18. An Empirical Analysis of Online Insurance Complaints against Life Insurance Companies%寿险公司网络投诉案例实证研究

    Institute of Scientific and Technical Information of China (English)

    郭振华; 朱少杰

    2012-01-01

    通过世纪保网3年549个寿险投诉案件,采用内容分析法揭示寿险业诚信问题的真正原因,研究发现引发消费者不满的三大问题依次为:销售误导、销售员隐瞒合同内容和退保问题,理赔难仅位列第四。结论表明,寿险业增进消费者信任最有效的手段是加强对销售人员的管理,杜绝销售误导和隐瞒,并就退保规定向消费者作出明确说明。研究还发现,相对于市场占有率而言,外资寿险公司的被投诉率比中资寿险公司还高。%Through content analysis, the paper attempted to disclose the true causes for the credibility issue of the life insurance industry on the basis of 549 life insurance complaint cases gathered in the past three years by Century In- surance Website. We found that the three major problems leading to customer's dissatisfaction were as follows: sales misrepresentation, agent withholding certain contract content, dissatisfied policy surrendering. And difficult claim-set- tlement just ranked in the fourth place. It indicated that the most efficient means for the life insurance industry to gain trust from customers was to strengthen agent management, with the purpose to eradicate misleading selling and con- cealment and require agents to explain clearly policy surrender stipulations to consumers. Furthermore, it revealed that in terms of their market share, the complaint ratio of foreign life insurance companies was higher than that of domestic ones.

  19. Health and life insurance as an alternative to malpractice tort law

    Directory of Open Access Journals (Sweden)

    Sumner Walton

    2010-06-01

    Full Text Available Abstract Background Tort law has legitimate social purposes of deterrence, punishment and compensation, but medical tort law does none of these well. Tort law could be counterproductive in medicine, encouraging costly defensive practices that harm some patients, restricting access to care in some settings and discouraging innovation. Discussion Patients might be better served by purchasing combined health and life insurance policies and waiving their right to pursue malpractice claims. The combined policy should encourage the insurer to profit by inexpensively delaying policyholders' deaths. A health and life insurer would attempt to minimize mortal risks to policyholders from any cause, including medical mistakes and could therefore pursue systematic quality improvement efforts. If policyholders trust the insurer to seek, develop and reward genuinely effective care; identify, deter and remediate poor care; and compensate survivors through the no-fault process of paying life insurance benefits, then tort law is largely redundant and the right to sue may be waived. If expensive defensive medicine can be avoided, that savings alone could pay for fairly large life insurance policies. Summary Insurers are maligned largely because of their logical response to incentives that are misaligned with the interests of patients and physicians in the United States. Patient, provider and insurer incentives could be realigned by combining health and life insurance, allowing the insurer to use its considerable information access and analytic power to improve patient care. This arrangement would address the social goals of malpractice torts, so that policyholders could rationally waive their right to sue.

  20. Court upholds prison term for fraud against life insurers.

    Science.gov (United States)

    1999-10-15

    The 7th U.S. Circuit Court of Appeals in Chicago upheld the lower court conviction of [name removed] for fraud and mail fraud. [Name removed] enrolled seven critically ill persons under employee group life insurance through his travel agency, Corporate Travel Consultants Corp. in a scheme to collect $2.4 million. None of the people were employees of his company. The deaths of an HIV-infected man and [name removed]'s 95-year-old mother paid him $600,000 in benefits before the plot was discovered. He was sentenced to a jail term, fined $50,000, and ordered to make restitution in the amount of $600,000. The three-judge panel said that in spite of some errors, the sentence was appropriate.

  1. Life insurance risk assessment using a fuzzy logic expert system

    Science.gov (United States)

    Carreno, Luis A.; Steel, Roy A.

    1992-01-01

    In this paper, we present a knowledge based system that combines fuzzy processing with rule-based processing to form an improved decision aid for evaluating risk for life insurance. This application illustrates the use of FuzzyCLIPS to build a knowledge based decision support system possessing fuzzy components to improve user interactions and KBS performance. The results employing FuzzyCLIPS are compared with the results obtained from the solution of the problem using traditional numerical equations. The design of the fuzzy solution consists of a CLIPS rule-based system for some factors combined with fuzzy logic rules for others. This paper describes the problem, proposes a solution, presents the results, and provides a sample output of the software product.

  2. [Study on willingness to participate and willingness to pay for hypothetical industrial injury insurance scheme].

    Science.gov (United States)

    Wu, Yuan; Dong, Hengjin; Duan, Shengnan; Liu, Xiaofang; Ye, Chiyu; You, Hua; Hu, Huimei; Wang, Linhao; Zhang, Xing; Wang, Jing

    2014-10-01

    To investigate workers' willingness to participate and wiliness to pay for a hypothetical industrial injury insurance scheme, to analyze the influential factors, and to provide information for policy making of the government. Multistage cluster sampling was used to select subjects: In the first stage, 9 small, medium, orlarge enterprises were selected fromthree cities (counties) in Zhejiang province, China, according to the level of economic development, transportation convenience, and cooperation of government agencies; in the second stage, several workshops were randomly selected from each of the 9 enterprises. Face-to-face interviews among all workers in the workshops were conducted by trained interviewers using a pre-designed questionnaire. It was found that 73.87% (2095) of all workers were willing to participate in the hypothetical work injury insurance scheme and to pay 2.21% of monthly wage (51.77 yuan) on average, and more than half of the workers were willing to pay less than 1%of monthly wage (35 yuan). Of the 741 workers who were not willing to participate, 327 thought that the premium should be borne by the state or enterprises, instead of individuals, and others were not willing to participate because of low income, unstable job, or poor understanding of the hypothetical industrial injury insurance scheme. Logistic regression analysis showed that workers with higher education levels, longer length of services, longer weekly working time, or more knowledge of occupational diseases showed higher willingness to participate in the scheme; workers who were exposed to physical hazards, had health records, or had participated in the existing medical insurance or industrial injury insurance were more willing to participate. Multiple linear regression analysis showed that with increasing average monthly wage, weekly working time, and self?health evaluation, the proportion of workers with willingness to pay increased; however, with increasing work intensity and

  3. 26 CFR 1.804-4 - Investment yield of a life insurance company.

    Science.gov (United States)

    2010-04-01

    ... in any way by the enactment of the Life Insurance Company Income Tax Act of 1959 (73 Stat. 112...) INCOME TAX (CONTINUED) INCOME TAXES Investment Income § 1.804-4 Investment yield of a life insurance... income and excess profits taxes, if any. In cases where the investment expenses allowable as deductions...

  4. 26 CFR 20.2206-1 - Liability of life insurance beneficiaries.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Liability of life insurance beneficiaries. 20.2206-1 Section 20.2206-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY... § 20.2206-1 Liability of life insurance beneficiaries. With respect to the right of the...

  5. 17 CFR 270.6c-3 - Exemptions for certain registered variable life insurance separate accounts.

    Science.gov (United States)

    2010-04-01

    ... registered variable life insurance separate accounts. 270.6c-3 Section 270.6c-3 Commodity and Securities... 1940 § 270.6c-3 Exemptions for certain registered variable life insurance separate accounts. A separate account which meets the requirements of paragraph (a) of Rule 6e-2 (17 CFR 270.6e-2) or paragraph (a)...

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

    NARCIS (Netherlands)

    A. Chen; M. Suchanecki

    2007-01-01

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

  7. 76 FR 2756 - Agency Information Collection (Application for Conversion) (Government Life Insurance) Activity...

    Science.gov (United States)

    2011-01-14

    ... AFFAIRS Agency Information Collection (Application for Conversion) (Government Life Insurance) Activity... No. 2900-0149.'' SUPPLEMENTARY INFORMATION: Title: Application for Conversion (Government Life Insurance), VA Form 29-0152. OMB Control Number: 2900-0149. Type of Review: Extension of a...

  8. 26 CFR 1.818-4 - Election with respect to life insurance reserves computed on preliminary term basis.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Election with respect to life insurance reserves... Election with respect to life insurance reserves computed on preliminary term basis. (a) In general. Section 818(c) permits a life insurance company issuing contracts with respect to which the life...

  9. Health, life and disability insurance and hereditary risk for breast or colorectal cancer.

    Science.gov (United States)

    Norum, J; Tranebjaerg, L

    2000-01-01

    Fear of insurance discrimination affecting the insurance-seeker and family has been reported as the singlemost important reason why individuals choose not to undergo genetic testing. The eleven health insurers operating on the Norwegian market were mailed a questionnaire asking them to list their insurance products and evaluate two individuals' requests for insurance. The requests were constructed in order to illustrate a high genetic risk for (a) colorectal (HNPCC) and (b) breast cancer (BRCAI/BRCA2), respectively. Nine out of 11 insurers responded. While no restriction was documented concerning risk of BRCA1/BRCA2 and life insurance or disability pension, the premium paid by persons with susceptibility to HNPCC varied between the different insurers from standard to raised premiums. The product 'critical disease' insurance was refused or obtained at normal or raised premiums in both cases, depending on the insurer in question. On examining personal indemnity insurance, we found that the BRCA1/BRCA2-risk individual was offered insurance at the standard premium, whereas HNPCC-risk individuals were offered a standard or raised premium. Only the major Norwegian insurer is in fact diverging in its policies.

  10. An optimal life insurance policy in the investment-consumption problem in an incomplete market

    CERN Document Server

    Egami, Masahiko

    2008-01-01

    This paper considers an optimal life insurance for a householder subject to mortality risk. The household receives a wage income continuously, which is terminated by unexpected (premature) loss of earning power or (planned and intended) retirement, whichever happens first. In order to hedge the risk of losing income stream by householder's unpredictable event, the household enters a life insurance contract by paying a premium to an insurance company. The household may also invest their wealth into a financial market. The problem is to determine an optimal insurance/investment/consumption strategy in order to maximize the expected total, discounted utility from consumption and terminal wealth. To reflect a real-life situation better, we consider an incomplete market where the householder cannot trade insurance contracts continuously. To our best knowledge, such a model is new in the insurance and finance literature. The case of exponential utilities is considered in detail to derive an explicit solution. We al...

  11. A Two-Account Life Insurance Model for Scenario-Based Valuation Including Event Risk

    Directory of Open Access Journals (Sweden)

    Ninna Reitzel Jensen

    2015-06-01

    Full Text Available Using a two-account model with event risk, we model life insurance contracts taking into account both guaranteed and non-guaranteed payments in participating life insurance as well as in unit-linked insurance. Here, event risk is used as a generic term for life insurance events, such as death, disability, etc. In our treatment of participating life insurance, we have special focus on the bonus schemes “consolidation” and “additional benefits”, and one goal is to formalize how these work and interact. Another goal is to describe similarities and differences between participating life insurance and unit-linked insurance. By use of a two-account model, we are able to illustrate general concepts without making the model too abstract. To allow for complicated financial markets without dramatically increasing the mathematical complexity, we focus on economic scenarios. We illustrate the use of our model by conducting scenario analysis based on Monte Carlo simulation, but the model applies to scenarios in general and to worst-case and best-estimate scenarios in particular. In addition to easy computations, our model offers a common framework for the valuation of life insurance payments across product types. This enables comparison of participating life insurance products and unit-linked insurance products, thus building a bridge between the two different ways of formalizing life insurance products. Finally, our model distinguishes itself from the existing literature by taking into account the Markov model for the state of the policyholder and, hereby, facilitating event risk.

  12. 1 The Mauritian Insurance Industry in the next Decade: Challenges ...

    African Journals Online (AJOL)

    2015-05-11

    May 11, 2015 ... better cater for the needs of the future generation. Keywords: ... decade, the European insurance markets, with the partial exception of the United ... As the credit and equity markets recover combined with ... nations to rein in spending, with austerity measures in place across several ..... 3.1.1 Gender.

  13. Regulatory Framework in the Insurance Industry – The Solvency II Project

    Directory of Open Access Journals (Sweden)

    Simona-Laura Dragos

    2013-05-01

    Full Text Available Insurance is of fundamental importance to both individuals and business because replaces insecurity with security and stability. The protection provided by insurance and the investments made by insurers contribute to economic growth and structural development. The role of public authorities is to provide an adequate regulatory framework allowing consumers to benefit from product innovation and to be protected. The study gives a brief review of the development of the insurance risk-management concept, analysis the goals and design of the Solvency II project and the solvency capital requirement formula according to the new regulation. In the end the results of the quantitative impact studies on the insurance industry are discussed.

  14. A COMPARATIVE ANALYSIS BETWEEN UNIT-LINKED LIFE INSURANCE AND OTHER ALTERNATIVE INVESTMENTS

    Directory of Open Access Journals (Sweden)

    CRISTINA CIUMAS

    2015-07-01

    Full Text Available The unit-linked life insurance has two important components: protection and investment. The protection component refers to the insured sum in case of the occurrence of insured risks and the investment component refers to the policyholder’s account that represents the present value of the units from the chosen investment funds.These financial products invest most of the premium paid by the insured person in the funds managed by the insurance company or an external administrator and the lower part of the premium is intended to cover the insured risk (death, disability, etc. An important component of the activity carried out by the insurance companies is the investment of the premiums paid by policyholders in various types of assets, in order to obtain higher yields than those guaranteed by the insurance contracts, while providing the necessary liquidity for the payment of insurance claims in case of occurrence of the assumed risks. This research contributes to the existing literature regarding the study of investment alternatives, with an exclusive focus on the investment in unit-linked life insurance. A special place in this study is the presentation of investments in unit-linked insurance versus other types of financial investments: deposits, treasury bills, shares (BET, currency (EURO and gold.

  15. Measuring the relative efficiency of insurance industry: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Maryam Mousavi

    2015-11-01

    Full Text Available Measuring the relative efficiency in insurance industry plays essential role for productivity improvement in insurance industry. In this paper, we present an empirical investigation to measure the relative efficiency of some insurance firms listed on Tehran Stock Exchange using data envelopment analysis (DEA over the period 2011-2013. The proposed study of this paper uses four inputs namely; total assets, price to earnings ratio, beta and sigma and four outputs namely; net earnings, one-year, two-year and three-year returns. The study uses two methods of input and output oriented DEA to measures the relative efficiencies of 9 banks and the results indicate that most insurance firms perform well in terms of efficiency.

  16. 26 CFR 20.2056(b)-6 - Marital deduction; life insurance or annuity payments with power of appointment in surviving spouse.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Marital deduction; life insurance or annuity... consists of proceeds held by an insurer under the terms of a life insurance, endowment, or annuity contract... policy of insurance upon the decedent's life, a policy of insurance upon the life of a person...

  17. Servicemembers' Group Life Insurance--Veterans' Group Life Insurance regulation update--ABO, VGLI application, SGLI 2-year disability extension. Final rule.

    Science.gov (United States)

    2014-07-31

    This document amends the Department of Veterans Affairs (VA) insurance regulations concerning Servicemembers' Group Life Insurance (SGLI) to reflect the statutory provisions of the Veterans' Benefits Act of 2010, which became law on October 13, 2010, and resulted in the need for amendments to change the SGLI Disability Extension period from 1 year to 2 years in duration; provide SGLI Traumatic Injury Protection (TSGLI) retroactive coverage effective from October 7, 2001, for all qualifying injuries regardless of the geographic location and military operation in which the injuries were incurred; and remove the SGLI and Veterans' Group Life Insurance (VGLI) Accelerated Benefits Option (ABO) discount rate. This rule also clarifies that ``initial premium'' refers to ``initial Veterans' Group Life Insurance premium,'' updates the current address of the Office of Servicemembers' Group Life Insurance (OSGLI), managed by Prudential Insurance Company of America, to reflect where the ABO application is mailed for processing, and corrects the OSGLI phone number. Finally, this rule removes the ABO application form from the regulation, and it corrects and clarifies language concerning the VGLI application period that was inadvertently incorrectly modified in a prior amendment of the regulations.

  18. 27 CFR 70.164 - Surrender of property subject to levy in the case of life insurance and endowment contracts.

    Science.gov (United States)

    2010-04-01

    ... subject to levy in the case of life insurance and endowment contracts. 70.164 Section 70.164 Alcohol... the case of life insurance and endowment contracts. (a) In general. This section provides special rules relating to the surrender of property subject to levy in the case of life insurance and...

  19. 26 CFR 1.101-7 - Mortality table used to determine exclusion for deferred payments of life insurance proceeds.

    Science.gov (United States)

    2010-04-01

    ... deferred payments of life insurance proceeds. 1.101-7 Section 1.101-7 Internal Revenue INTERNAL REVENUE... payments of life insurance proceeds. (a) Mortality table. Notwithstanding any provision of § 1.101-4 that... principles of this section may be illustrated by the following examples: Example 1. A life insurance...

  20. 26 CFR 1.79-3 - Determination of amount equal to cost of group-term life insurance.

    Science.gov (United States)

    2010-04-01

    ...-term life insurance. 1.79-3 Section 1.79-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE... Income § 1.79-3 Determination of amount equal to cost of group-term life insurance. (a) In general. This section prescribes the rules for determining the amount equal to the cost of group-term life insurance...

  1. 26 CFR 1.101-4 - Payment of life insurance proceeds at a date later than death.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Payment of life insurance proceeds at a date... Income § 1.101-4 Payment of life insurance proceeds at a date later than death. (a) In general. (1)(i... those to which section 101(c) applies) received under a life insurance contract and paid by reason...

  2. 26 CFR 1.264-1 - Premiums on life insurance taken out in a trade or business.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Premiums on life insurance taken out in a trade... taxpayer on a life insurance policy are not deductible from the taxpayer's gross income, even though they would otherwise be deductible as trade or business expenses, if they are paid on a life insurance...

  3. 38 CFR 8.12 - Payment of the cash value of National Service Life Insurance in monthly installments under...

    Science.gov (United States)

    2010-07-01

    ... of National Service Life Insurance in monthly installments under section 1917(e) of title 38 U.S.C. 8... SERVICE LIFE INSURANCE Cash Value and Policy Loan § 8.12 Payment of the cash value of National Service Life Insurance in monthly installments under section 1917(e) of title 38 U.S.C. (a) Effective January...

  4. 26 CFR 1.61-10 - Alimony and separate maintenance payments; annuities; income from life insurance and endowment...

    Science.gov (United States)

    2010-04-01

    ...; annuities; income from life insurance and endowment contracts. 1.61-10 Section 1.61-10 Internal Revenue... separate maintenance payments; annuities; income from life insurance and endowment contracts. (a) In general. Alimony and separate maintenance payments, annuities, and income from life insurance...

  5. 38 CFR 8.26 - Renewal of National Service Life Insurance on the 5-year level premium term plan.

    Science.gov (United States)

    2010-07-01

    ... Service Life Insurance on the 5-year level premium term plan. 8.26 Section 8.26 Pensions, Bonuses, and... § 8.26 Renewal of National Service Life Insurance on the 5-year level premium term plan. (a) Effective July 23, 1953, all or any part of National Service Life Insurance on the 5-year level premium term plan...

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

    Science.gov (United States)

    Becher, St

    2016-06-01

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

  7. Mathematics of Life Insurance Study Aid Development and Evaluation in a Nontraditional Setting.

    Science.gov (United States)

    Rahmlow, Harold F.

    A mode of operation that is currently being utilized for research and development activities in a nontraditional college environment is presented. The program described is in the content area of mathematics of life insurance. The students for whom the materials were developed are adults in insurance and related professions who are engaged in…

  8. CJEU rules on use of standards in imposing information duties on life insurance companies

    NARCIS (Netherlands)

    Mańko, R.

    2015-01-01

    The EU Directive applicable to life insurance sets out what kind of information insurance companies must give to policyholders. It also allows Member States to impose broader information duties, provided that the information is necessary for the policyholder to understand the contract. In its ruling

  9. 26 CFR 1.804-3 - Gross investment income of a life insurance company.

    Science.gov (United States)

    2010-04-01

    ... law) shall be excluded from the gross investment income of a life insurance company. However, section... company. 1.804-3 Section 1.804-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY... insurance company. (a) Gross investment income defined. For purposes of part I, subchapter L, chapter 1 of...

  10. Individual Savings Accounts and the Life-Cycle Approach to Social Insurance

    DEFF Research Database (Denmark)

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

    Using Danish data, we find that about three fourths of the taxes levied to finance public transfers actually finance benefits that do not redistribute between people but redistribute income over the life cycle of individual taxpayers. This provides a rationale for financing part of social insurance...... via mandatory individual savings accounts. An account system that offers liquidity insurance and a lifetime income guarantee helps to alleviate the dilemma between insurance and incentives. To illustrate this, we analyse a specific proposal for reform of the Danish system of social insurance...

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

    Directory of Open Access Journals (Sweden)

    Stelian STANCU

    2006-01-01

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

  12. Individual Savings Accounts and the Life-Cycle Approach to Social Insurance

    DEFF Research Database (Denmark)

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

    Using Danish data, we find that about three fourths of the taxes levied to finance public transfers actually finance benefits that do not redistribute between people but redistribute income over the life cycle of individual taxpayers. This provides a rationale for financing part of social insurance...... via mandatory individual savings accounts. An account system that offers liquidity insurance and a lifetime income guarantee helps to alleviate the dilemma between insurance and incentives. To illustrate this, we analyse a specific proposal for reform of the Danish system of social insurance......, involving the use of individual accounts. We estimate how the reform would affect the distribution of lifetime incomes, the public budget, and economic efficiency...

  13. 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.

  14. 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.

  15. The Impact of Tea Crop Insurance in the Development of Tea Industry (Case study: Otagvar, Langrood

    Directory of Open Access Journals (Sweden)

    Hojat Sharifi

    2013-02-01

    Full Text Available The Agricultural Insurance Fund has covered tea crop since (2003. Due to undisputable effect of tea industry in the livelihood and the economy of Northern cities and people of the region, the Fund’s performance gains its importance. So in this paper, we investigate the impact of tea crop insurance in development of tea industry and factors effective on this impact. Our main question to be answered is that whether, in the present situation, tea crop insurance has been able to wield its role in the development of tea industry. To provide an answer to the question above, we employed variety of qualitative and quantitative methods of research. Quantitative method has been done as survey and our instrument was a questionnaire the questions of which were answered by 200 farmers in Otagvar, Langrood. To achieve a better sample population, we have used the random and cluster methods of sampling. Qualitative method has used the discussion groups with insurance agents in Amlash and Kumleh and interview with experts of Organization for Rural Cooperation and Agricultural Insurance Fund.

  16. ECONOMIC & DEMOGRAPHIC CHARACTERICTICS, SOCIAL CAPITAL AND DEMAND FOR LIFE INSURANCE: EVIDENCE FROM CENTRAL REGION OF SRI LANKA

    Directory of Open Access Journals (Sweden)

    Sisira Kumara NARADDA GAMAGE

    2016-08-01

    Full Text Available This paper presents findings of the determinants of demand for life insurance in the central region of Sri Lanka.  It is a novel study in the sense that it incorporated social capital as a determinant of demand for life insurance. Primary data has been collected through random sampling and the logistic model was used to examine the determinants of the demand for life insurance. Results confirmed that gender, income, trust and social capital has significant effect on demand for life insurance in the study area. Income and trust came out positive contributors of life insurance demand. However, it is worthy to note that although income has a positive effect on life insurance demand but its odds ratio makes it less important factor to influence demand for life insurance. Gender has deteriorated effect on demand for life insurance indicating that male household head less likely to purchase life insurance. Similarly, social capital also has a negative impact on demand for life insurance. Other determinants like age, religious status, working status, and education, has not significant effect on life insurance demand. Policies are recommended on research findings.

  17. 78 FR 28007 - Submission for Review: Federal Employees' Group Life Insurance (FEGLI) Implementation...

    Science.gov (United States)

    2013-05-13

    ... From the Federal Register Online via the Government Publishing Office OFFICE OF PERSONNEL MANAGEMENT Submission for Review: Federal Employees' Group Life Insurance (FEGLI) Implementation Questionnaire for Tribal Employers AGENCY: U.S. Office of Personnel Management. ACTION: 60-Day Notice...

  18. 77 FR 66069 - Veterans' Group Life Insurance (VGLI) No-Health Period Extension

    Science.gov (United States)

    2012-11-01

    ...,'' which refer to Retired Reservist SGLI, which was discontinued by Public Law 104-275 as an independent..., 2012, for publication. List of Subjects in 38 CFR Part 9 Life insurance, Military personnel,...

  19. 2014 CRL Blood Pressure Study of Life Insurance Applicants.

    Science.gov (United States)

    Fulks, Michael; Dolan, Vera F; Stout, Robert L

    2015-01-01

    Objective .- Define the relative mortality risk by systolic (SBP) and diastolic blood pressure (DBP) in a relatively healthy cohort split by age and sex with adjustment for smoking status, other findings and admitted heart disease history. Method .- Blood pressure (BP in mm Hg), build, laboratory studies and limited medical history are collected when people apply for individual life insurance. Information on 2,472,706 applicants tested by Clinical Reference Laboratory from 1993 to 2007 was utilized with follow-up for vital status using the September 2011 Social Security Death Master File identifying 31,033 deaths. Data was analyzed by SBP and DBP split by age and sex accounting for smoking and for BMI, urine protein/creatinine ratio and history of heart disease in a Cox multivariate survival analysis. Separate analysis by admitted hypertension history was also conducted. Results are presented by SBP and DBP for 4 age-sex groups with and without added covariates beyond age and smoking status. Results .- Relative mortality progressively increased by SBP level from the 90 to 119 band (down to 80 in younger women) upward with little additional impact by DBP. Addition of covariates beyond age and smoking resulted in a 5% to 10% reduction in relative risk. Although high DBP had limited impact, a pulse pressure/SBP ratio >½ identified 1% of applicants at high mortality risk, with little difference in risk for ratios ≤½. Hypertension history with current BP control was associated with a 10% to 25% increase in relative mortality risk as compared to those with similar BP but no such history. Conclusion .- Increasing SBP is closely associated with increasing relative mortality, starting from the lowest SBP. Increasing DBP has little additional impact, but a pulse pressure/SBP ratio >½ is a potent marker of increased risk as well. Accounting for build and other laboratory findings reduces risk modestly. A history of hypertension with current control increases risk.

  20. 76 FR 17720 - American Family Life Insurance Company, et al.

    Science.gov (United States)

    2011-03-30

    ... a diversified portfolio of stocks of companies with above average earnings growth potential. Each... substitution of shares of the Vanguard Capital Growth Portfolio (``Replacement Portfolio'') of the Vanguard... Products Growth Portfolio (``Replaced Portfolio'') of the Fidelity Variable Insurance Products Fund...

  1. 26 CFR 1.1402(a)-18 - Split-dollar life insurance arrangements.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 12 2010-04-01 2010-04-01 false Split-dollar life insurance arrangements. 1... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Tax on Self-Employment Income § 1.1402(a)-18 Split-dollar life insurance arrangements. See §§ 1.61-22 and 1.7872-15 for rules relating to the treatment of split...

  2. Modeling CLV : A test of competing models in the insurance industry

    NARCIS (Netherlands)

    Donkers, Bas; Verhoef, Peter C.; de Jong, Martijn G.

    2007-01-01

    Customer Lifetime Value (CLV) is one of the key metrics in marketing and is considered an important segmentation base. This paper studies the capabilities of a range of models to predict CLV in the insurance industry. The simplest models can be constructed at the customer relationship level, i.e. ag

  3. Modeling CLV : A test of competing models in the insurance industry

    NARCIS (Netherlands)

    Donkers, Bas; Verhoef, Peter C.; de Jong, Martijn G.

    Customer Lifetime Value (CLV) is one of the key metrics in marketing and is considered an important segmentation base. This paper studies the capabilities of a range of models to predict CLV in the insurance industry. The simplest models can be constructed at the customer relationship level, i.e.

  4. 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.

  5. Health, disability, and life insurance experiences of working-age persons with multiple sclerosis.

    Science.gov (United States)

    Iezzoni, L I; Ngo, L

    2007-05-01

    Working-age Americans with multiple sclerosis (MS) may face considerable financial insecurities when they become unable to work and lack the health, disability, and life insurance typically offered through employers. In order to estimate the rates of having these insurance policies, as well as how insurance status affects reports of financial stress, we conducted half-hour telephone interviews with 983 working-age persons across the US, who reported being diagnosed with MS. The interviews occurred from May through November 2005, and among the sampled individuals contacted and confirmed eligible, 93.2% completed the interview. The study population was largely female (78.9%), Caucasian (86.4%), married (68.6%), with at least some college education (71.5%), and unemployed (60.2%). Overall, 96.3% had some health insurance (40.3% with public health insurance, primarily Medicare), 56.7% had long-term disability insurance (36.4% with public programs), and 68.3% had life insurance. Notably, 27.4% indicated that, since being diagnosed with MS, health insurance concerns had significantly affected employment decisions. In addition, 16.4% reported considerable difficulty paying for health care, 27.4% put off or postponed seeking needed health care because of costs, and 22.3% delayed filling prescriptions, skipped medication doses, or split pills because of costs. Overall, 26.6% reported considerable worries about affording even basic necessities, such as food, utilities, and housing.

  6. The Evolution of Romania's Market Stability and Performance Indicators of the Life Insurance Sector

    Directory of Open Access Journals (Sweden)

    Maria Mirabela FLOREA IANC

    2016-09-01

    Full Text Available Evidently, life insurance helps to reduce the burden that weighs upon the state concerning social protection, leading to the release of resources for investment and provision of goods and essential public services (education, health, justice, public order or national defense. Also, life insurance have a major impact, even if indirectly, on financial markets and on economic development as a whole. Because of high amounts they manage and the vast horizon of time they have available, insurers and pension funds is one of the most important sources of capital for financial markets of developed countries. As a result, life insurance is, from the point of view of economy financing, an alternative to the traditional banking system.

  7. 我国寿险公司产品同质程度研究%A Study on Degree of Product Homogeneity of Life Insurance Companies in China

    Institute of Scientific and Technical Information of China (English)

    谢圣远; 李晓锋

    2014-01-01

    本文在厘清同质产品概念的基础上,比较分析寿险公司产品的保险责任、投保年龄、保险期间等,并构建同质指数,结果发现:我国寿险公司产品的同质程度不高。产品同质化并不是制约我国寿险业创新发展的首要因素,寿险公司要突破增长瓶颈,应在营销渠道、品牌宣传和价值传递等方面积极创新。%After clarifying the concept of life insurance product homogeneity , this paper makes a comparative analysis on products of different companies in their insurance liability , entry age and insurance period , which leads to the construction of a homogeneity index .It is found that life insurance products in China do not have the problem of high degree homogeneity . Therefore, product homogeneity is not the primary factor that restricts the innovation of life insurance industry .In order to break through the bottleneck of growth , life insurance companies should innovate in such areas as marketing channel , brand publicity and value delivery .

  8. Analysis of insurance agent's sales misleading from the perspective of life insurance company%保险代理人销售误导行为分析--基于寿险公司视角

    Institute of Scientific and Technical Information of China (English)

    汪晶晶

    2016-01-01

    保险代理人的销售误导行为一直是寿险行业的一大顽疾,从寿险公司角度分析销售误导行为产生的原因,找出其在经营管理方面存在的问题,并提出相应的建议和对策。%Sales misleading of insurance agents has been a chronic disease facing life insurance companies, which not only does harm to the consumers, but also hinders the healthy development of life insurance industry.This paper analyzes what causes sales misleading from the perspective of those companies, trying to reveal the problems in administration and provide some corresponding suggestions and countermeasures.

  9. Life Insurance - Their Characteristics Importance and Actuality On The Romanian Market

    Directory of Open Access Journals (Sweden)

    Oana Claudia Ionescu

    Full Text Available For the twenty-first century life, there cannot be a real, long-term and sustained progress, without insurance. Let’s only consider the avalanche of natural disasters and acts of terrorism in recent years that have affected many parts of the world, brought suffering to millions of people and caused huge economic losses. The common knowledge that a country’s economic strength lays in bankingand insurance needs no arguments. It is not accidental that the most stable economies, where even population’s prosperity is remarkable, are found in countries where insurance is well represented in economic life. In a modern economy, insurances play an important role due to its contribution to financial stability, by promoting effective control of various risk categories and mobilizing people’s savings. This paper plans to identify the main characteristics, trends and developments of life insurance products and their market, as well as the interactions between the insurance sector, banks and financial markets and to highlight some of the determinants of insurance demand. Also, another topic addressed is the current economic context, and the effects of inflation and economic recession on this sector. Finally, this paper contains a short observation of the evolution of this particular market, striving to make a “prediction” of the immediate prospects of this activity.

  10. 数据挖掘技术在寿险业交叉销售中的应用%Application of data mining technique to cross-selling of the life insurance industry

    Institute of Scientific and Technical Information of China (English)

    王新军; 胡曼

    2009-01-01

    一般来说,保险公司获得新客户的成本比维持老客户的成本要高得多,因此保险公司开始更多地关注现有客户的发展,交叉销售正是挖掘现有客户的消费潜力的有效方法.本文以CRISP-DM(Cross-Industry Standard Process for Data Mining)方法论为基础,探讨聚类分析和关联规则在寿险行业交叉销售中的应用,并结合某寿险公司的基础数据应用Clementine挖掘工具建立了交叉销售模型,帮助寿险公司有针对性地开展产品营销.

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

    Energy Technology Data Exchange (ETDEWEB)

    Osmundsen, Petter [Department of Industrial Economics and Risk Management, University of Stavanger, N-4036 Stavanger (Norway)], E-mail: Petter.Osmundsen@uis.no; Aven, Terje [Department of Industrial Economics and Risk Management, University of Stavanger, N-4036 Stavanger (Norway)], E-mail: Terje.Aven@uis.no; Erik Vinnem, Jan [Department of Industrial Economics and Risk Management, University of Stavanger, N-4036 Stavanger (Norway)], E-mail: jev@preventor.no

    2008-01-15

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

    Science.gov (United States)

    2011-04-13

    ... diversified, open- end management investment company.\\3\\ Currently, VIPFV has 31 investment portfolios, one of... substitution of shares of the Money Market Portfolio (the ``Replacement Portfolio'') of the Variable Insurance Products Fund V (``VIPFV'') for shares of the Money Market Fund (the ``Substituted Portfolio'') of the...

  13. 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.

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

    Energy Technology Data Exchange (ETDEWEB)

    Mills, Evan E-mail: emills@lbl.gov

    2003-09-01

    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.

  15. Learning, diffusion and the industry life cycle

    OpenAIRE

    Zhu Wang

    2006-01-01

    An industry typically experiences initial mass entry and later shakeout of producers over its life cycle. It can be explained as a competitive equilibrium outcome driven by the dynamic interaction between technology progress and demand diffusion. When a new product is introduced, high-income consumers tend to adopt it first. Technology then improves with cumulative output and demand growth generates S-shaped diffusion as the product penetrates lower-income groups. Eventually fewer new adopter...

  16. The Development of Value Systems and the Role of Information Systems in the Portuguese Insurance Industry

    Directory of Open Access Journals (Sweden)

    Bruno Alexandre Ribeiro Marques

    2013-10-01

    Full Text Available This study aims to analyze the status of partnerships between organizations in the Portuguese insurance industry and design a development strategy that includes the Information Systems (IS dimension. In this paper, the current role of the IS in insurance partnerships (e.g.: automation of functionalities, alignment with decision makers is analyzed, as well as their importance in the future. Since insurance information activities are knowledge intensive, a relational and learning approach was followed. The impact of the IS on collaboration and implications for the CIO (responsible for the IS are presented. The existence of a good exploration of the IS for automation and integration of heterogeneous systems were verified. However, collaborative functionalities (e.g. Web 2.0 and partnership management indicators were not observed as a common practice. The CIO can be an agent of change, highlighting the IT Governance view and the socio-technical approach that are key to increase the maturity and value of the IS in the insurance industry.

  17. Sets, Probability and Statistics: The Mathematics of Life Insurance. [Computer Program.] Second Edition.

    Science.gov (United States)

    King, James M.; And Others

    The materials described here represent the conversion of a highly popular student workbook "Sets, Probability and Statistics: The Mathematics of Life Insurance" into a computer program. The program is designed to familiarize students with the concepts of sets, probability, and statistics, and to provide practice using real life examples. It also…

  18. 综合人寿保险精算模型%Aggregate Model on Life Insurance

    Institute of Scientific and Technical Information of China (English)

    郎艳怀; 冯恩民

    2002-01-01

    Insurance is an important aspect of finance. It has developed rapidly during the international market of insurance. Because it was developing in our country late and references on insurance are lacking, it is necessary to introduce the alien modern experience and technique, to absorb them based on our concrete situation. A aggregate model of general life insurance product is established in this thesis, including deferred life annuities, whole life insurance and returnable premiums. Then through the regulation among various parameters, we can gain various insurance products.%保险是金融的重要组成部分,国际保险业发展迅速,我国保险业发展较晚,资料匮乏,迫切需要引进国外先进的保险经验和保险技术,并结合我国的实际情况加以运用.本文建立了一个综合的人寿保险精算模型,其中包括生存年金,终身寿险和还本部分.通过适当的调整参数进行组合,可以获得不同的保险产品.

  19. Antecedents of employee job stress: Evidence from the insurance industry in Ghana

    Directory of Open Access Journals (Sweden)

    Evelyn Twumasi

    2016-09-01

    Full Text Available Although job stress has become an issue of great concern over the last decades both internationally and nationally, there still remains a paucity of research in the Ghanaian insurance industry. This study therefore examined the relationship between antecedent variables (work overload, role conflict and role ambiguity and employee job stress in the insurance industry in Ghana. Using a descriptive cross-sectional design with a survey questionnaire, 212 employees were selected to participate in the study. Pearson correlation and a two-step hierarchical regression were used to test the proposed hypotheses. Results of the analysis revealed that work overload and role conflict rather than role ambiguity were positively related to job stress. Implications for theory and practice are later discussed in the study.

  20. The transformation of morals in markets: death, benefits, and the exchange of life insurance policies.

    Science.gov (United States)

    Quinn, Sarah

    2008-11-01

    This article adopts an institutional approach to describe the changing secondary market for life insurance in the United States. Since the 1990s, this market, in which investors buy strangers' life insurance policies, has grown in the face of considerable moral ambivalence. The author uses news reports and interviews to identify and describe three conceptions of this market: sacred revulsion, consumerist consolation, and rationalized reconciliation. Differences among the conceptions are considered in view of the institutional legacy of life insurance and its success in organizing practices, perceptions, and understandings about markets and death. From this case, the author draws implications for analyses of morals in markets, an important and emergent topic within economic sociology.

  1. IRS Notice 2002-8 clarifies split-dollar life insurance arrangements.

    Science.gov (United States)

    Ledbetter, Thomas L

    2002-04-01

    Healthcare organizations that sponsor split-dollar life insurance arrangements for employees need to understand the tax treatment of such arrangements. IRS Notice 2002-8 clarifies this issue. The notice announces the IRS's intention to publish final regulations regarding the taxation of split-dollar life insurance, outlines the expected provisions to be included in the regulations, provides guidance on the value of economic benefit provided under such arrangements, and issues rules for the taxation of arrangements entered into before the publication of final rules.

  2. The effect of firearm deaths on life expectancy and insurance premiums in the United States.

    Science.gov (United States)

    Lemaire, Jean

    2005-01-01

    Despite recent gains, the U.S. remains behind most other affluent countries in life expectancy. Even within the U.S., the gap between the life expectancies of Caucasians and African-Americans remains significant. At the same time, firearm deaths in the U.S. far exceed peer nations, and disproportionately affect African-American males. In this Issue Brief, Dr. Lemaire explores whether deaths from firearms explain some of these international and racial disparities in life expectancy. He uses actuarial techniques to calculate the "cost" of firearm deaths in the U.S., both in terms of reduced life expectancy and increased life insurance premiums.

  3. 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.

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

    Directory of Open Access Journals (Sweden)

    Qiuying Li

    2014-02-01

    Full Text Available Orientation: The article discusses the relationship between enterprise risk management (ERM and firm value.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. Normal 0 false false false EN-GB ZH-CN AR-SA DUAL RANDOM MODEL OF INCREASING LIFE INSURANCE FOR MULTIPLE-LIFE STATUS%多生命状态增额寿险的双随机模型

    Institute of Scientific and Technical Information of China (English)

    张奕; 何文炯

    2002-01-01

    In this paper the dual random model of increasing life insurance for multiple-life status is discussed.The mth moment of the present value of benefits are calculated and the respective expressions of the moments under joint life status or last- survivor status are presented.Fur-thermore,the limiting distribution of average cost of a portfolio of increasing life insurance for multiple-life status is studied.

  5. 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

  6. 26 CFR 1.6052-1 - Information returns regarding payment of wages in the form of group-term life insurance.

    Science.gov (United States)

    2010-04-01

    ... in the form of group-term life insurance. 1.6052-1 Section 1.6052-1 Internal Revenue INTERNAL REVENUE... § 1.6052-1 Information returns regarding payment of wages in the form of group-term life insurance. (a... employees remuneration for services in the form of group-term life insurance on the life of such...

  7. 78 FR 56757 - Submission for Review: Federal Employees' Group Life Insurance (FEGLI)

    Science.gov (United States)

    2013-09-13

    ... From the Federal Register Online via the Government Publishing Office OFFICE OF PERSONNEL MANAGEMENT Submission for Review: Federal Employees' Group Life Insurance (FEGLI) AGENCY: Office of Personnel... FR 28007) allowing for a 60-day public comment period. No comments were received during the 60...

  8. Optimal dynamic premium control in non-life insurance. Maximizing dividend pay-outs

    DEFF Research Database (Denmark)

    Højgaard, Bjarne

    2002-01-01

    In this paper we consider the problem of finding optimal dynamic premium policies in non-life insurance. The reserve of a company is modeled using the classical Cramér-Lundberg model with premium rates calculated via the expected value principle. The company controls dynamically the relative safety...

  9. Personal finance and life insurance under separation of risk aversion and elasticity of substitution

    DEFF Research Database (Denmark)

    Jensen, Ninna Reitzel; Steffensen, Mogens

    2015-01-01

    In a classical Black–Scholes market, we establish a connection between two seemingly different approaches to continuous-time utility optimization. We study the optimal consumption, investment, and life insurance decision of an investor with power utility and an uncertain lifetime. To separate ris...

  10. 32 CFR Appendix A to Part 50 - Life Insurance Products and Securities

    Science.gov (United States)

    2010-07-01

    ..., MILITARY AND CIVILIAN PERSONAL COMMERCIAL SOLICITATION ON DOD INSTALLATIONS Pt. 50, App. A Appendix A to... supplemental commercial life insurance. Installation Finance Officers are responsible for ensuring this seven... members, the management of the association is responsible for complying fully with the policies...

  11. 75 FR 16205 - MetLife Insurance Company of Connecticut, et al.

    Science.gov (United States)

    2010-03-31

    ... primarily purchases equity both. securities of large, seasoned, U.S. and multinational companies that the... COMMISSION MetLife Insurance Company of Connecticut, et al. March 25, 2010. AGENCY: Securities and Exchange... Investment Company Act of 1940 (the ``Act'') approving certain substitutions of securities and an order of...

  12. Estimation model of life insurance claims risk for cancer patients by using Bayesian method

    Science.gov (United States)

    Sukono; Suyudi, M.; Islamiyati, F.; Supian, S.

    2017-01-01

    This paper discussed the estimation model of the risk of life insurance claims for cancer patients using Bayesian method. To estimate the risk of the claim, the insurance participant data is grouped into two: the number of policies issued and the number of claims incurred. Model estimation is done using a Bayesian approach method. Further, the estimator model was used to estimate the risk value of life insurance claims each age group for each sex. The estimation results indicate that a large risk premium for insured males aged less than 30 years is 0.85; for ages 30 to 40 years is 3:58; for ages 41 to 50 years is 1.71; for ages 51 to 60 years is 2.96; and for those aged over 60 years is 7.82. Meanwhile, for insured women aged less than 30 years was 0:56; for ages 30 to 40 years is 3:21; for ages 41 to 50 years is 0.65; for ages 51 to 60 years is 3:12; and for those aged over 60 years is 9.99. This study is useful in determining the risk premium in homogeneous groups based on gender and age.

  13. 寿险和非寿险业务变迁趋势、原因分析及其优化路径探讨%Life insurance and Non-life Insurance Business Comparison and Optimization

    Institute of Scientific and Technical Information of China (English)

    刘玉焕

    2012-01-01

    Non-life insurance premium can produce more compensation with stronger insurance function, so its share marks the role of insurance. In the 20 century, non-life insurance is the main product in the market, and in the 21 century, life insurance had a larger share. This paper discusses the reason and effect of disproportion of life and non-life insurance from the aspect of crowd-out effect of life insurance on non-life insurance, weak insurance willingness of households, low growth-point of property insurance company, and mismatch of name and scope of property insurance company. And it provides policy suggestion in the end.%非寿险保费撬动保险金额的杠杆较大,属于保障功能较强的险种,其占比高低体现着保险保障功能发挥程度的强弱。在20世纪,中国非寿险业务占据市场主流地位,进入21世纪后,寿险占比远高于非寿险。本文从寿险对非寿险的挤出效应、居民保险意识淡薄、财险公司业务增长点低、财险公司命名与其经营范围不符等角度探究了寿险业务与非寿险业务结构占比失衡的原因和影响,并提出相关对策建议。

  14. 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.

  15. Right hepatic lobe donation adversely affects donor life insurability up to one year after donation.

    Science.gov (United States)

    Nissing, Matthew H; Hayashi, Paul H

    2005-07-01

    There are no data regarding hepatic lobe donation effects on donor life insurability. Two investigators called 10 agents of 10 different large life insurance companies. One investigator gave a fictitious profile: Caucasian man, 33 years old, nonsmoker, without medical problems (control profile [CP]). The other investigator used the same profile with a history of uncomplicated right lobe donation 12 months earlier (donor profile [DP]). Investigators asked for premium quotes on a $100,000 term life policy. No medical testing or record review was allowed. Investigators were blinded to the results of each other's calls. Agents were unaware of the study. We documented underwriting decisions, premiums quoted, stipulations, number of phone calls, and phone time. All 10 companies would pursue underwriting CP at their lowest, "preferred" rate. Five would do the same for DP. Two might underwrite DP at a more expensive "standard" rate, but a "preferred" rate would be less likely. One would underwrite DP at the "standard" rate; one would not underwrite DP. One agent did not return follow-up calls (DP insurability premiums were lower for CP vs. DP ($189/yr. vs. $202/yr., P = 0.56). Median number of phone calls required was 1 for CP and 3 for DP (P = 0.01). Mean telephone minutes were 4.2 for CP and 8.0 for DP (P = 0.004). In conclusion, right hepatic lobe donation decreases life insurability 1 year after uncomplicated donation. Donors can expect some increased difficulty obtaining life insurance, but they should find a company willing to pursue underwriting. The premium paid may be slightly higher.

  16. Is Gibrat's Law Applicable to China's Life Insurance Companies? Study on the Influential Factors of Scales and Growth of Life Insurance Companies%Gibrat法则是否适用于中国寿险公司——兼论寿险公司规模与成长的影响因素

    Institute of Scientific and Technical Information of China (English)

    邵全权

    2011-01-01

    近年来中国寿险市场发展呈现出“寡头主导、大中小共生”的局面。究竟应重点发展“巨无霸”式的金融保险集团,还是应优先发展“船小好掉头”的中小保险公司,这是中国寿险市场面临的一个重要选择。Gibrat法则认为同一行业中的企业,其成长率是独立于其规模的变量,文章对Gibrat法则在寿险业的适用性进行了实证检验,研究结果表明:(1)Gibrat法则对中国的寿险公司不成立,规模越小的公司其成长率越高;(2)寿险公司资产增长率和保费增长率均存在条件收敛效应;(3)寿险公司的产业特点、业务结构和经营产生的外部性会较显著地影响其规模与成长。文章认为中国寿险市场发展的选择如果与本文所揭示的规律相匹配,则寿险业发展会进入良性循环。%In recent years, life insurance market in China shows an oligarchy-led situation with the symbiosis of big, medium and small companies. The life insurance market in China is faced with an important choice concerning its development focus, namely placing emphasis on the development of giant-type financial insurance groups, or giving priority to the development of small- and- medium-sized insurance companies. According to Gibrat 's law, the growth rate of firms in the same industry is independent of their scales, and this paper empirically studies the issues abovementioned through testing the applicability of Gibrat's law to the life insurance industry in China. The findings are shown as follows: firstly, Gibrat's law does not hold in the life insurance industry in China, and the life insurance companies in China with smaller scales have higher growth rates; secondly, there is a conditional convergence effect between asset growth rate and premium growth rate in life insurance industry; thirdly, the industrial charac- teristics, business structures and operation externalities of life insurance

  17. 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

  18. Veterans' Group Life Insurance (VGLI) no-health period extension. Final rule.

    Science.gov (United States)

    2012-11-01

    The Department of Veterans Affairs (VA) is issuing this final rule that amends the regulations governing eligibility for Veterans' Group Life Insurance (VGLI) to extend to 240 days the current 120-day "no-health" period during which veterans can apply for VGLI without proving that they are in good health for insurance purposes. The purpose of this rule is to increase the opportunities for disabled veterans to enroll in VGLI, some of whom would not qualify for VGLI coverage under existing provisions. This document adopts as a final rule, without change, the proposed rule published in the Federal Register on June 25, 2012.

  19. Monitoring Actuarial Present Values of Term Life Insurance By a Statistical Process Control Chart

    Science.gov (United States)

    Hafidz Omar, M.

    2015-06-01

    Tracking performance of life insurance or similar insurance policy using standard statistical process control chart is complex because of many factors. In this work, we present the difficulty in doing so. However, with some modifications of the SPC charting framework, the difficulty can be manageable to the actuaries. So, we propose monitoring a simpler but natural actuarial quantity that is typically found in recursion formulas of reserves, profit testing, as well as present values. We shared some simulation results for the monitoring process. Additionally, some advantages of doing so is discussed.

  1. Is genetic information relevantly different from other kinds of non-genetic information in the life insurance context?

    Science.gov (United States)

    Malpas, P J

    2008-07-01

    Within the medical, legal and bioethical literature, there has been an increasing concern that the information derived from genetic tests may be used to unfairly discriminate against individuals seeking various kinds of insurance; particularly health and life insurance. Consumer groups, the general public and those with genetic conditions have also expressed these concerns, specifically in the context of life insurance. While it is true that all insurance companies may have an interest in the information obtained from genetic tests, life insurers potentially have a very strong incentive to (want to) use genetic information to rate applicants, as individuals generally purchase their own cover and may want to take out very large policies. This paper critically focuses on genetic information in the context of life insurance. We consider whether genetic information differs in any relevant way from other kinds of non-genetic information required by and disclosed to life insurance companies by potential clients. We will argue that genetic information should not be treated any differently from other types of health information already collected from those wishing to purchase life insurance cover.

  2. 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

    2012-01-01

    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 (<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 general trend. These

  3. 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

  4. Life insurance and inflammatory bowel disease: is there discrimination against patients?

    Science.gov (United States)

    Moody, G A; Mayberry, J F

    1996-01-01

    The aims of this study were to compare and contrast the attitude of major insurance companies to patients with inflammatory bowel disease (IBD) and to a Consultant Gastroenterologist (JFM) requesting guidelines for patients with IBD. The experience of patients in Leicester with insurance companies was also investigated. A standard letter requesting information regarding the likelihood of loading on life assurance in connection with a mortgage was sent to 50 major insurance companies from a typical patient. A similar letter was constructed from a consultant gastroenterologist (JFM) to the same 50 insurance companies requesting simple guidelines for patients with IBD when applying for various types of insurance. A questionnaire investigating the experience of patients with IBD when applying for insurance was also sent to 100 patients with IBD selected at random from the Leicestershire data base of patients with Crohn's disease and ulcerative colitis, 39 insurance companies responded to the request for information by a typical patient, (response rate = 78%). 24 were split between those who thought the patient would be accepted at normal rates (n = 7) and those who would request an increased premium (n = 17). Only 27 companies replied to the letter by a consultant gastroenterologist requesting general guidelines, (response rate = 54%). There were only 17 overlapping replies to the two letters. Of these 17 overlapping replies, five companies (30%) informed the patient to expect increased premiums whilst advising the consultant a similar patient could expect normal rates. Six companies conferred (35%), telling both the patient and the consultant to expect normal rates. Either one or both of the remaining six companies (35%) felt unable to comment without either specific details of the patient or a medical examination. 69% of patients responded to the questionnaire. Over half (54%) had applied for an insurance policy. More than a third of patients had required either a

  5. Asset and Liability Composition in Participating Life Insurance: The Impact on Shortfall Risk and Shareholder Value

    DEFF Research Database (Denmark)

    Gatzert, Nadine; Bohnert, Alexander; Jørgensen, Peter Løchte

    that supports the life insurer’s various types of guarantees and surplus participation schemes. The aim of this paper is to analyze the impact of asset and liability composition in life insurance including decisions regarding the product portfolio composition, the riskiness of the asset side, and different......Management decisions regarding the asset and liability composition of a life insurance company can have a substantial impact on an insurer’s risk situation. At the same time, they also affect the fair risk-adjusted compensation offered to the company’s equity holders for providing capital...... risk and ensure a fair situation for shareholders. Our findings emphasize that management decisions can have a substantial impact on the company’s shortfall risk, and that their effectiveness in risk reduction varies substantially depending on the surplus appropriation scheme offered to the customer...

  6. [The assessment of free volitional competence in cases of suicide with life insurance].

    Science.gov (United States)

    Cording, C; Sass, H

    2009-09-01

    The German insurance law stipulates that in cases of suicide, life insurance providers are not obligated to pay within a restriction period of 3 years, except if it can be proven that the suicide was committed in a state that precludes the insured's ability to make free choices. The relevant psychiatric assessment criteria are identical with those of mental and volitional competence in general. However, a different profile of patients and other disorders are involved, mainly depressive syndromes, but also chronic alcoholism as well as schizophrenic and paranoid syndromes. The assessment has to be based on the legal concept of mental disorder, which is different from the current diagnostic classifications in psychiatry. Decisive psychopathological symptoms are impairment of reality control, of volition and/or of judgement. These posthumous assessments are particularly difficult and require a thorough knowledge of psychopathology as well as of the relevant jurisdiction. The latter is summarised in this article.

  7. 2014 CRL Build Study of Life Insurance Applicants.

    Science.gov (United States)

    Fulks, Michael; Dolan, Vera F; Stout, Robert L

    2016-01-01

    Objective .- Determine the impact of build on insurance applicant mortality accounting for smoking, laboratory test values and blood pressure. Method .- The study consisted of 2,051,370 applicants tested at Clinical Reference Laboratory between 1993 and 2007 with build and cotinine measurements available whose body mass index (BMI) was between 15 and 47. Vital status was determined as of September, 2011 by the Social Security Death Master File. Excluded from the primary study were applicants with HbA1c values ≥6.5%, systolic BP ≥141 mmHg, albumin values ≤3.3 g/dL or total cholesterol values ≤130 mg/dL. Relative mortality was determined by Cox regression analysis for bands of BMI split by age, sex and smoking status (urine cotinine positive). Results .- A majority of applicants had BMI >24 (overweight or obese by WHO criteria). After the exclusions noted above, relative mortality does not increase by >34% unless BMI is 34. BMI values in the range of 22 to 24 and 25 to 29, overall, had similar and the lowest relative risks. For most nonsmokers, risk was lowest in the lower of these two BMI bands but for smokers (and non-smoking males age 60 to 89) risk was lowest in the higher BMI band. Additional analysis showed limited reduction in relative risk by accounting for all laboratory test values as well as continuing the exclusions. Eliminating the exclusions resulted in only a modest increase in relative risk because the mortality rate of the reference band increased as well. Conclusion .- After excluding elevated HbA1c and blood pressure (associated with high BMI) and low albumin and cholesterol (associated with low BMI) which are usually evaluated separately, mortality varies by a limited degree for BMI 20 to 34. Accounting for the mortality impact of other test values, in addition to the exclusions noted, reduced mortality associated with high BMI to a limited extent, but had little impact on mortality associated with low BMI.

  8. The Social Life of Health Insurance in Low- to Middle-income Countries: An Anthropological Research Agenda.

    Science.gov (United States)

    Dao, Amy; Nichter, Mark

    2016-03-01

    The following article identifies new areas for engaged medical anthropological research on health insurance in low- and middle-income countries (LMICs). Based on a review of the literature and pilot research, we identify gaps in how insurance is understood, administered, used, and abused. We provide a historical overview of insurance as an emerging global health panacea and then offer brief assessments of three high-profile attempts to provide universal health coverage. Considerable research on health insurance in LMICs has been quantitative and focused on a limited set of outcomes. To advance the field, we identify eight productive areas for future ethnographic research that will add depth to our understanding of the social life and impact of health insurance in LMICs. Anthropologists can provide unique insights into shifting health and financial practices that accompany insurance coverage, while documenting insurance programs as they evolve and respond to contingencies.

  9. An Empirical Research of Regional Insurance Industry Stimulating Great- leap -forward Development in Xinjiang%区域保险业促进新疆跨越式发展的实证研究

    Institute of Scientific and Technical Information of China (English)

    卢爱珍; 尹泽东

    2011-01-01

    本文以新疆保费收入和地区GDP数据为研究依据,选取样本区间为1980年-2009年,利用统计分析工具进行实证研究。得出:(1)新疆保险业发展与经济增长高度正相关;(2)保险业发展与经济增长之间存在由经济增长到保险业发展的格兰杰因果关系,即国民经济的快速发展有利于促进保险业发展;(3)新疆财产保险发展、人寿保险发展与经济增长存在正相关;(4)短期内财产保险、人寿保险都不是经济增长的Granger原因,但经济增长却是财产保险和人寿保险发展的Granger原因;从长期来看,人寿保险的增长可以带动经济的增长。%This paper, based on premium income and regional GDP data in Xinjiang, selecting the samples from the year 1980 to the year 2009, uses statistical tools Eviews5.0 to make an empirical research. The conclusions are: ( 1 ) the Xinjiang insurance industry development and economic growth is highly related ; (2) the insurance industry development and economic growth by be- tween economic growth to the development of the insurance industry granger causality, the rapid economic development to promote insurance industry development; (3) Xinjiang property insurance development, life insurance development and economic growth have positive correlation; (4) the short term property insurance, life insurance are not economic growth, but economic growth Granger reason is property insurance and life insurance development of Granger reason, and in the long run, life insurance growth may be the reason for economic growth Granger.

  10. TANTAMOUNT TO FRAUD?: EXPLORING NON-DISCLOSURE OF GENETIC INFORMATION IN LIFE INSURANCE APPLICATIONS AS GROUNDS FOR POLICY RESCISSION.

    Science.gov (United States)

    Prince, Anya E R

    2016-01-01

    Many genetic counselors recommend that individuals secure desired insurance policies, such as life insurance, prior to undergoing predictive genetic testing. It has been argued, however, that this practice is "tantamount to fraud" and that failure to disclose genetic test results, or conspiring to secure a policy before testing, opens an individual up to legal recourse. This debate traps affected individuals in a Catch-22. If they apply for life insurance and disclose a genetic test result, they may be denied. If they apply without disclosing the information, they may have committed fraud. The consequences of life insurance fraud are significant: If fraud is found on an application, a life insurer can rescind the policy, in some cases even after the individual has passed away. Such a rescission could leave family members or beneficiaries without the benefits of the life insurance policy payment after the individual's death and place them in in economic difficulty. Although it is clear that lying in response to a direct question about genetic testing would be tantamount to fraud, few, if any, life insurance applications currently include broad questions about genetic testing. This paper investigates whether non-disclosure of unasked for genetic information constitutes fraud and explores varying types of insurance questions that could conceivably be interpreted as seeking genetic information. Life insurance applicants generally have no duty to disclose unasked for information, including genetic information, on an application. However, given the complexities of genetic information, individuals may be exposed to fraud and rescission of their life insurance policy despite honest attempts to truthfully and completely answer all application questions.

  11. 26 CFR 1.501(c)(12)-1 - Local benevolent life insurance associations, mutual irrigation and telephone companies, and like...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Local benevolent life insurance associations...) INCOME TAXES (CONTINUED) Exempt Organizations § 1.501(c)(12)-1 Local benevolent life insurance.... (b) The phrase of a purely local character applies to benevolent life insurance associations, and...

  12. 26 CFR 20.2031-8 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of certain life insurance and annuity... certain life insurance and annuity contracts. (1) The value of a contract for the payment of an annuity, or an insurance policy on the life of a person other than the decedent, issued by a company...

  13. 26 CFR 1.101-1 - Exclusion from gross income of proceeds of life insurance contracts payable by reason of death.

    Science.gov (United States)

    2010-04-01

    ... Specifically Excluded from Gross Income § 1.101-1 Exclusion from gross income of proceeds of life insurance... proceeds of life insurance policies, if paid by reason of the death of the insured, are excluded from the gross income of the recipient. Death benefit payments having the characteristics of life...

  14. On life insurance marketing misleading——angle based on mandate agency%浅析寿险销售误导——基于委托代理视角

    Institute of Scientific and Technical Information of China (English)

    李平兵; 董济玲

    2012-01-01

    In recent years,with the rapid development of the insurance industry,more attention is paid on the integrity of the industry,especially the sales misleading of life insurance,which restricts further development of the insurance industry.This paper analysises the reasons of life insurance sales misleading from the relationship between the insurer and agent,and proposes measures to promote the better development of the insurance industry.%近年来,伴随保险业的迅速发展,行业诚信问题也日益成为人们关注的焦点,特别是寿险销售误导问题,更是制约着保险业的进一步发展。本文从保险人与代理人之间的委托代理关系角度分析了寿险销售误导问题产生的原因,并提出了相应的解决措施,以促进保险业更好发展。

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

    Directory of Open Access Journals (Sweden)

    Emine Öner Kaya

    2015-10-01

    Full Text Available This study investigates the firm-specific factors affecting the profitability of non-life insurance companies operating in Turkey. For this purpose, data of 24 non-life insurance companies operating in Turkey from the period 2006–2013 were brought together to obtain 192 observed panel data sets. In this study, profitability is measured by two different variables: technical profitability ratio and sales profitability ratio. According to the empirical results, the firm-specific factors affecting the profitability of Turkish non-life insurance companies are the size of the company, age of the company, loss ratio, current ratio, and premium growth rate.

  16. 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.

  17. THE AWARENESS OF HAVING LIFE INSURANCE POLICY: AN EXPLORATORY STUDY AMONG LAGOS STATE UNIVERSITY STUDENTS IN OJO, LAGOS, NIGERIA

    Directory of Open Access Journals (Sweden)

    Mustapha Abiodun Okunnu

    2008-10-01

    Full Text Available The paper examines the level of awareness of the importance Life Insurance policy among the Nigerian students using students of Lagos State University, Ojo-Lagos, in the South-West part Nigeria as our case study. This University was better known in the mid nineties for incessant Cult clashes right in the University campus, which resulted to unwanted deaths and maiming of innocent Students and Staff alike. We discovered that lost their lives , lost “entirely” because most of them were not insured. It was discovered through the simple descriptive survey adopted for this study, that most students are actually aware of the significance of Life Insurance policy especially the financial benefits one can derive in case of unexpected death of their parents but they are handicapped of possessing the policy because they cannot afford to buy one. The survey revealed that 71 percentage see taking Life Insurance necessary, 22 percentage see taking Life Insurance Compulsory, while 7 percentage did not see to why someone should considered taking Life Insurance. The study also found that taking care of Children’s future took approximately 67 percentage as main goal for the University Students taking Life Insurance in the future. Whereas 20 percentage perceived Wealth creation as the reason of taking Life Insurance policy after graduating from the University, while other reasons took 13 percentage. Conclusively, it is suggested that the various stakeholders should make extra effort to let people know the importance of having Life Insurance at the early stage. University Students are most potential group because most of them are ready to buy this policy after they have graduated from the University.

  18. Asset and Liability Composition in Participating Life Insurance: The Impact on Shortfall Risk and Shareholder Value

    DEFF Research Database (Denmark)

    Gatzert, Nadine; Bohnert, Alexander; Jørgensen, Peter Løchte

    Management decisions regarding the asset and liability composition of a life insurance company can have a substantial impact on an insurer’s risk situation. At the same time, they also affect the fair risk-adjusted compensation offered to the company’s equity holders for providing capital...... surplus appropriation schemes on the company’s shortfall risk and the shareholders’ fair risk charge. The range of products comprises temporary life annuities and endowment insurance contracts with varying surplus appropriation schemes that are modeled actuarially. We thereby also account for mortality...... risk and ensure a fair situation for shareholders. Our findings emphasize that management decisions can have a substantial impact on the company’s shortfall risk, and that their effectiveness in risk reduction varies substantially depending on the surplus appropriation scheme offered to the customer...

  19. 我国寿险市场需求实证分析%The Empirical Analysis About The Demand Of The Life Insurance Market In China

    Institute of Scientific and Technical Information of China (English)

    王林娟

    2011-01-01

    近年,随着中国经济的发展,寿险市场也有了巨大的发展空间。本文通过建立计量经济模型研究各因素对寿险需求的影响程度,从而了解我国寿险市场的发展潜力。进而提出有关增强我国寿险公司的竞争力及拓宽我国寿险市场需求的可行性建议。%In recent years, with the development of economic, there' s huge space for the development of the life insurance industry. The effecting extent of various factors through the establishment of an econometric model was researched, which is prepared for understanding the potential of development about life insurance in China. Then the author put forward some practical recommendations about promoting the development of the life insurance industry in our country.

  20. Optimal Hedging and Pricing of Equity-Linked Life Insurance Contracts in a Discrete-Time Incomplete Market

    Directory of Open Access Journals (Sweden)

    Norman Josephy

    2011-01-01

    Full Text Available We present a method of optimal hedging and pricing of equity-linked life insurance products in an incomplete discrete-time financial market. A pure endowment life insurance contract with guarantee is used as an example. The financial market incompleteness is caused by the assumption that the underlying risky asset price ratios are distributed in a compact interval, generalizing the assumptions of multinomial incomplete market models. For a range of initial hedging capitals for the embedded financial option, we numerically solve an optimal hedging problem and determine a risk-return profile of each optimal non-self-financing hedging strategy. The fair price of the insurance contract is determined according to the insurer's risk-return preferences. Illustrative numerical results of testing our algorithm on hypothetical insurance contracts are documented. A discussion and a test of a hedging strategy recalibration technique for long-term contracts are presented.

  1. 银行降息对寿险业的影响及供求模型分析%Impact on Life Insurance from Reduction of the Bank's Interest Rate and Analysis on Supply and Demand Model

    Institute of Scientific and Technical Information of China (English)

    肖文

    2001-01-01

    宏观经济因素对保险业的发展起了重要的作用。自1996年以来,中国经济政策导向已由治理通货膨胀转向刺激需求,三年多来,央行七次降息,对保险业的影响巨大。本文主要探讨降息对寿险业的影响,分析了降息引发的寿险业变革的原因,并就转型期寿险市场的有效启动提出了一些建议。%The factors of macro-economy have played a very. imaportant role in the development of insurance industry. Since 1996,China's economic policy has been directed from curbing inflation to stimulating demand. The central bank has reduced interest rate seven times in the past three years, which has exerted a great influence on insurance. The present article seeks for the impact on life insurance from reduction of interest rate, analyses causes of transformation in life insurance resulted from reduction of interest rate,and gives some proposals on effective stipulation of life insurance market during the transitional period. As one of the hot topics on instrance market, the above study will make a great contribution to the development and readjustment of China' s insurance industry.

  2. 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.

  3. 26 CFR 301.6332-2 - Surrender of property subject to levy in the case of life insurance and endowment contracts.

    Science.gov (United States)

    2010-04-01

    ... policy by the taxpayer or by the death of the insured on a date before the 90th day after service of the... case of life insurance and endowment contracts. 301.6332-2 Section 301.6332-2 Internal Revenue INTERNAL... the case of life insurance and endowment contracts. (a) In general. This section provides...

  4. Improved access to life insurance after genetic diagnosis of familial hypercholesterolaemia: cross-sectional postal questionnaire study.

    Science.gov (United States)

    Huijgen, Roeland; Homsma, Sietske J M; Hutten, Barbara A; Kindt, Iris; Vissers, Maud N; Kastelein, John J P; van Rijckevorsel, Jan L A

    2012-07-01

    A decade ago, in the initial stage of genetic testing for familial hypercholesterolaemia (FH) in The Netherlands, it was reported that such screening decreased access to affordable life insurance for mutation carriers. In 2003, in order to improve access to insurance for FH mutation carriers, insurers agreed to underwrite according to a set of guidelines. In this cross-sectional study, we assessed whether access to insurance has improved since the advent of these guidelines. We approached 2825 subjects that had participated in the genetic testing for FH between 1998 and 2003. We compared unconditional acceptance rates before and after FH diagnosis and before and after the guidelines were issued by means of logistic regression analysis. Our study outcome pertains to 414 FH patients who applied for life insurance. Unconditional acceptance of a policy before DNA diagnosis and before the issue of guidelines occurred in 182 out of 255 (71%) cases, versus 27 out of 35 (77%) cases after DNA diagnosis, but before the issue of guidelines. De facto, 107 out of 124 (86%) patients received unconditional acceptance after DNA diagnosis and after the issue of guidelines (P for trend=0.002). Access to life insurance improved for FH patients after molecular diagnosis and it improved even further after the guidelines were issued. Therefore, we argue that limited access to life insurance on the basis of 'DNA discrimination' is no longer a valid argument against genetic cascade testing for FH, at least not in our country.

  5. Improved access to life insurance after genetic diagnosis of familial hypercholesterolaemia: cross-sectional postal questionnaire study

    Science.gov (United States)

    Huijgen, Roeland; Homsma, Sietske JM; Hutten, Barbara A; Kindt, Iris; Vissers, Maud N; Kastelein, John JP; van Rijckevorsel, Jan LA

    2012-01-01

    A decade ago, in the initial stage of genetic testing for familial hypercholesterolaemia (FH) in The Netherlands, it was reported that such screening decreased access to affordable life insurance for mutation carriers. In 2003, in order to improve access to insurance for FH mutation carriers, insurers agreed to underwrite according to a set of guidelines. In this cross-sectional study, we assessed whether access to insurance has improved since the advent of these guidelines. We approached 2825 subjects that had participated in the genetic testing for FH between 1998 and 2003. We compared unconditional acceptance rates before and after FH diagnosis and before and after the guidelines were issued by means of logistic regression analysis. Our study outcome pertains to 414 FH patients who applied for life insurance. Unconditional acceptance of a policy before DNA diagnosis and before the issue of guidelines occurred in 182 out of 255 (71%) cases, versus 27 out of 35 (77%) cases after DNA diagnosis, but before the issue of guidelines. De facto, 107 out of 124 (86%) patients received unconditional acceptance after DNA diagnosis and after the issue of guidelines (P for trend=0.002). Access to life insurance improved for FH patients after molecular diagnosis and it improved even further after the guidelines were issued. Therefore, we argue that limited access to life insurance on the basis of ‘DNA discrimination' is no longer a valid argument against genetic cascade testing for FH, at least not in our country. PMID:22293687

  6. How Do Board Characteristics Influence Business Performance? Evidence from Non-life Insurance Firms in Zimbabwe

    Directory of Open Access Journals (Sweden)

    Maxwell Sandada

    2015-08-01

    Full Text Available The purpose of this study was to contribute to the corporate governance literature by establishing the relationship between board characteristics and corporate performance within the nonlife insurance firms in Zimbabwe. The study sought to provide some insights on corporate governance since the phenomenon is relatively an emerging discipline in Zimbabwe. The paper sought to complement other corporate governance studies that were conducted in other environments by producing evidence on the phenomenon from a developing country context. A quantitative research approach was adopted and respondents were selected through a stratified random sampling. The results of the study confirm that board characteristics (board composition, diversity, and size exhibit a statistically significant positive predictive relationship with the performance of non-life insurance firms measured by gross premium written and customer retention. However, CEO/Chairman duality showed a negative relationship with business performance. Non-life insurance companies need to be cognizant of board characteristics in order to improve their performance. Moreover , the findings in this research has practical relevance for the selection process of directors as it highlights the importance of having a sizeable number of board members as well as an appropriate mix of competences and qualifications on the board. Although corporate governance is has been extensively researched, there is limited study in this area from a developing country like Zimbabwe with relatively less developed capital markets. It would be wrong to assume that the findings found in other countries can apply here because the conditions are different.

  7. Pricing Life Insurance under Stochastic Mortality via the Instantaneous Sharpe Ratio: Theorems and Proofs

    CERN Document Server

    Young, Virginia R

    2007-01-01

    We develop a pricing rule for life insurance under stochastic mortality in an incomplete market by assuming that the insurance company requires compensation for its risk in the form of a pre-specified instantaneous Sharpe ratio. Our valuation formula satisfies a number of desirable properties, many of which it shares with the standard deviation premium principle. The major result of the paper is that the price per contract solves a linear partial differential equation as the number of contracts approaches infinity. One can interpret the limiting price as an expectation with respect to an equivalent martingale measure. Another important result is that if the hazard rate is stochastic, then the risk-adjusted premium is greater than the net premium, even as the number of contracts approaches infinity. We present a numerical example to illustrate our results, along with the corresponding algorithms.

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

    Science.gov (United States)

    Samsudin, Humaida Banu

    2014-06-01

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

  9. Failure factors in non-life insurance companies in United Kingdom

    Science.gov (United States)

    Samsudin, Humaida Banu

    2013-04-01

    Failure in insurance company is a condition of financial distress where a company has difficulty paying off its financial obligations to its creditors. This study continues the research from the study in identifying the determinants for run-off non-life insurance companies in United Kingdom. The analysis continues to identify other variables that could lead companies to financial distress that is macroeconomic factors (GDP rates, inflation rates and interest rates); total companies failed a year before and average size for failed companies'. The result from the analysis indicates that inflation rates, interest rates, total companies failed a year before and average sizes for failed companies are the best predictors. An early detection of failure can prevent companies from bankruptcy and allow management to take action to reduce the failure costs.

  10. PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR

    Directory of Open Access Journals (Sweden)

    Sandra Teodorescu

    2013-11-01

    Full Text Available The present paper describes a series of parametric distributions used for modeling non-life insurance payments data.Of those listed, special attention is paid to the transformed Beta distribution family.This distribution as well as those which are obtained from it(special cases of four-parameter transformed Beta distribution are used in the modeling of high costs, or even extreme ones.In the literature it follows the tail behaviour of distributions depending on the parameters, because the insurance payments data are tipically highly positively skewed and distributed with large upper tails.In the paper is described the tail behavior of the distribution in the left and right side respectively, and deduced from it, a general case.There are also some graphs of probability density function for one of the transformed Beta family members, which comes to reinforce the comments made.

  11. 山西煤炭行业工伤保险困境分析%Analyze on the Dififculties in Industrial Injury Insurance in Shanxi Coal Industry

    Institute of Scientific and Technical Information of China (English)

    张军

    2014-01-01

    工伤保险基金的统筹层级、参保范围和缴费费率是影响工伤保险保障能力的重要因素。本文就在经济下行环境下煤炭企业工伤保险行业统筹管理的基金征缴与待遇支付情况进行了分析,为如何解决提高工伤保险的保障能力、加强工伤保险制度建设问题提供了重要的参考。%The level of insurance fund pooling, protecting scope, and rate of fund collecting are important factors to inlfuence the support capability of industrial injury insurance. In this paper, the raising and payment of the pooled industrial injury funds in coal enterprises under current economic situation are analyzed, and therefore provide important reference for improving the support ability of industrial injury insurance and for intensifying the construction of industrial injury insurance system.

  12. Analysis of accelerated death benefit claims at a Japanese life insurance company.

    Science.gov (United States)

    Kobayashi, Miyoharu; Kudomi, Hiroyuki

    2002-01-01

    We studied accelerated death benefit (ADB) claims at the Dai-ichi Mutual Life Insurance Company (Dai-ichi Life). The ADB provision is designed to pay all or a portion of the death benefit if the insured is expected to die within 6 months. Dai-ichi Life paid 243 ADB claims and did not pay 17 ADB claims between December 1994 and March 1998. Of the 260 ADB claims, 253 (97.3%) were caused by malignant neoplasm, 2 by intracranial hemorrhage, 2 by angina pectoris, 1 by dilated cardiomyopathy, 1 by hepatic cirrhosis, and 1 by bleeding gastric ulcer. The age range of the 243 paid claims at the time when the attendant physician predicted a life expectancy below 6 months was 21.6-72.6 years (48.7 +/- 8.7 years [Mean +/- SD]). By the end of March 2000, 236 cases were followed up among the above 243 paid ADB claims. Of the 236 followed-up cases, 149 (63.1%) died within 6 months and 203 (86.0%) died within 1 year. The range of survival periods of these 236 cases was 6-1516 days (210 +/- 237 days). Of the 217 dead cases due to malignant neoplasm, 45 (20.7%) died of gastric cancer, 44 (20.3%) of lung cancer, 24 (11.1%) of liver cancer, 16 (7.4%) of colon cancer, 13 (6.0%) of rectum cancer, and 12 (5.5%) of pancreatic cancer.

  13. 寿险对消费内需的作用机制研究%The Effect of Life Insurance on Domestic Consumption

    Institute of Scientific and Technical Information of China (English)

    李心愉; 吴逸; 张越昕

    2012-01-01

    Under the framework of precautionary savings, this paper studied the mechanism and effect of annuity products and non-annuity products on boosting consumption. It laterally compared the life insurance industry devel- opment and domestic consumptions in different provinces of China and some other countries. The study showed that life insurance industry,with its inherent mechanism of "risk clustering and loss sharing" ,promoted residents' current consumption by reducing income volatility and losses uncertainty, as well as reducing uncertainty on their life expectancy. Thus,life insurance industry was the effective means for improving domestic consumptions.%采用预防性储蓄研究框架,通过建立纳入不确定因素的效用函数模型,分析了寿险产品中年金产品和非年金产品影响消费内需的机制及效果,并对2010年中国各地区及世界主要国家的寿险业发展和消费内需水平进行了横向比较。本文的研究表明,寿险业对于消费内需的作用机制在于:通过“风险汇聚”和“损失分担”的机制,消除居民面临的损失、收入、支出以及寿命的不确定性,使居民对未来形成稳定的预期,从而降低居民的预防性储蓄,增加现期消费。因此,寿险业对于消费内需具有重要的拉动作用。

  14. Analysis of Life Insurance Premium in Regard to Net Income as an Influencing Factor– the Case of the Republic of Serbia

    Directory of Open Access Journals (Sweden)

    Olja Munitlak Ivanović

    2013-12-01

    Full Text Available In current business conditions, insurance market in the Republic of Serbia notes positive but relatively slow growing trend. During the last few years, life insurance market in Serbia has an upward trend, however, it still significantly falls back in comparison to developed European countries. Insufficient development of life insurance sector is in direct relation to insufficient economic development, weak financial market, high unemployment rate and poor implementation of economic reforms. Additionally there is a problem due to the lack of both quality and quantity of education with insufficient basic knowledge of potentials that this type of insurance offers. The aim of this paper is to present the projection of life insurance premium on the basis of linear trend parameters and correlation degree between average net income and the amount of life insurance premium and to emphasize the necessity of intense development of life insurance market. Normal 0 false false false EN-US X-NONE X-NONE

  15. Servicemembers' Group Life Insurance Traumatic Injury Protection Program--genitourinary losses. Final rule.

    Science.gov (United States)

    2012-06-01

    The Department of Veterans Affairs (VA) is issuing this final rule that amends the regulations governing the Servicemembers' Group Life Insurance Traumatic Injury Protection (TSGLI) program by adding certain genitourinary (GU) system losses to the TSGLI Schedule of Losses and defining terms relevant to these new losses. This amendment is necessary to make qualifying GU losses a basis for paying TSGLI benefits to servicemembers with severe GU injuries. The intended effect is to expand the list of losses for which TSGLI payments can be made. This document adopts as a final rule, without change, the interim final rule published in the Federal Register on December 2, 2011.

  16. Longevity Risk and Natural Hedge Potential in Portfolios Of Life Insurance Products : The Effect of Investment Risk

    NARCIS (Netherlands)

    Stevens, R.S.P.; De Waegenaere, A.M.B.; Melenberg, B.

    2011-01-01

    Payments of life insurance products depend on the uncertain future evolution of survival probabilities. This uncertainty is referred to as longevity risk. Existing literature shows that the effect of longevity risk on single life annuities can be substantial, and that there exists a (natural) hedge

  17. 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

    2011-03-01

    Full Text Available The purpose of this research paper was to explore the extent to which strategic intelligence is utilised within the South African long-term insurance industry and whether it could be used to identify opportunities or threats within the global environment to remain competitive, create greater innovation, and corporate advantage.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

  18. 保险经纪同业对标发展研究%Research on Insurance Brokerage Industry Benchmarking Development

    Institute of Scientific and Technical Information of China (English)

    宋庆松; 白荣霞

    2011-01-01

    国内的保险经纪业属于新兴行业,本文从分析保险经纪业在保险市场中的定位、业务结构、业务规模状况入手,并针对目前国内保险经纪发展较好的长安保险经纪、江泰保险经纪有限公司,作者从公司概况、业务收入与利润、业务种类及服务行业、业务机制等进行了着重研究,并与竞盛保险经纪股份有限公司现状进行对标分析,明确自身与业界最佳的差距,从而提出了适合竞盛的具有战略性发展意义的发展建议。%The insurance brokerage belongs to emerging industries In Domestic,the author analyzes the location of insurance brokerage industry、business scale、business structure in insurance market.The paper starts from domestic developing better Changan insurance brokerage company、JiangTai insurance brokerage company.And the author contrastive analyzes the company profiles、business revenue and profit、business types and service industry,business mechanism in five major aspects and bowls between JingSheng insurance brokerage,clears out the gap between itself and the same trade,then puts forward the JingShen's development Suggestions stratigicly.

  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. Serum globulin predicts all-cause mortality for life insurance applicants.

    Science.gov (United States)

    Fulks, Michael; Stout, Robert L; Dolan, Vera F

    2014-01-01

    Determine the relative mortality in apparently healthy adults with various levels of serum globulin. By use of the Social Security Death Master File, mortality in 2010 was determined for 7.7 million life insurance applicants age 20 to 89 providing blood samples with valid globulin results between 1992 and 2006. Relative mortality by Cox regression for bands of globulin values was determined by age-sex group, with age split into 20 to 59 and 60 to 89, with each grouping also including age as a covariate. Further analysis was conducted by excluding applicants with elevations of other test values associated with increased globulin levels and mortality risk. After accounting for the mortality impact of frequently associated laboratory test abnormalities including BMI, alkaline phosphatase and albumin, relative mortality was found to increase gradually for globulin values > 3.2 g/dL. Values > 4.0 were associated with a mortality risk that was approximately doubled. There is also a small increased risk for globulin values < 1.9 g/dL. The highest 20% of globulin levels were associated with steadily increasing mortality in life insurance applicants. In many cases, other laboratory findings were not informative of the risk.

  1. Estimating Quantile Families of Loss Distributions for Non-Life Insurance Modelling via L-Moments

    Directory of Open Access Journals (Sweden)

    Gareth W. Peters

    2016-05-01

    Full Text Available This paper discusses different classes of loss models in non-life insurance settings. It then overviews the class of Tukey transform loss models that have not yet been widely considered in non-life insurance modelling, but offer opportunities to produce flexible skewness and kurtosis features often required in loss modelling. In addition, these loss models admit explicit quantile specifications which make them directly relevant for quantile based risk measure calculations. We detail various parameterisations and sub-families of the Tukey transform based models, such as the g-and-h, g-and-k and g-and-j models, including their properties of relevance to loss modelling. One of the challenges that are amenable to practitioners when fitting such models is to perform robust estimation of the model parameters. In this paper we develop a novel, efficient, and robust procedure for estimating the parameters of this family of Tukey transform models, based on L-moments. It is shown to be more efficient than the current state of the art estimation methods for such families of loss models while being simple to implement for practical purposes.

  2. 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.

  3. [Risk factor calculator for medical underwriting of life insurers based on the PROCAM study].

    Science.gov (United States)

    Geritse, A; Müller, G; Trompetter, T; Schulte, H; Assmann, G

    2008-06-01

    For its electronic manual GEM, used to perform medical risk assessment in life insurance, SCOR Global Life Germany has developed an innovative and evidence-based calculator of the mortality risk depending on cardiovascular risk factors. The calculator contains several new findings regarding medical underwriting, which were gained from the analysis of the PROCAM (Prospective Cardiovascular Münster) study. For instance, in the overall consideration of all risk factors of a medically examined applicant, BMI is not an independent risk factor. Further, given sufficient information, the total extra mortality of a person no longer results from adding up the ratings for the single risk factors. In fact, this new approach of risk assessment considers the interdependencies between the different risk factors. The new calculator is expected to improve risk selection and standard acceptances will probably increase.

  4. 26 CFR 25.2512-6 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of certain life insurance and annuity...; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-6 Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end investment company. (a) Valuation of certain life...

  5. Life Cycle Design - a Route to the Sustainable Industrial Culture?

    DEFF Research Database (Denmark)

    Hauschild, Michael Zwicky; Wenzel, Henrik; Alting, Leo

    1999-01-01

    In the attempt to reorient Society's development in a more sustainable direction attention is focused on the environmental impact of products and systems over their entire life cycle, but how can the environmental life cycle perspective be introduced into the design of new solutions and how much...... is reviewed and the overall question of to what extent life cycle design is a route to the sustainable industrial culture is discussed....

  6. Racial and Ethnic Disparities in Health Insurance Coverage: Dynamics of Gaining and Losing Coverage over the Life-Course.

    Science.gov (United States)

    Sohn, Heeju

    2017-04-01

    Health insurance coverage varies substantially between racial and ethnic groups in the United States. Compared to non-Hispanic whites, African Americans and people of Hispanic origin had persistently lower insurance coverage rates at all ages. This article describes age- and group-specific dynamics of insurance gain and loss that contribute to inequalities found in traditional cross-sectional studies. It uses the longitudinal 2008 Panel of the Survey of Income and Program Participation (N=114,345) to describe age-specific patterns of disparity prior to the Affordable Care Act (ACA). A formal decomposition on increment-decrement life-tables of insurance gain and loss shows that coverage disparities are predominately driven by minority groups' greater propensity to lose the insurance that they already have. Uninsured African Americans were faster to gain insurance than non-Hispanic whites but their high rates of insurance loss more than negated this advantage. Disparities from greater rates of loss among minority groups emerge rapidly at the end of childhood and persist throughout adulthood. This is especially true for African Americans and Hispanics and their relative disadvantages again heighten in their 40s and 50s.

  7. An Analysis on Women’s Insurance in Theoretical Perspectives of Life Cycle%基于生命周期理论视角的女性保险探析

    Institute of Scientific and Technical Information of China (English)

    汪连新

    2014-01-01

    女性在我国社会建设中日益发挥“半边天”的作用,女性健康与安全涉及到家庭幸福,也惠及社会和谐。我国保险业近几年快速发展,但是女性保险还处在初级阶段,存在保险意识薄弱﹑产品稀缺﹑服务不到位﹑与社会保险结合不够等问题,基于生命周期理论视角,解析女性特有的保险需求,针对女性保险现状与问题,提出提高女性保险意识﹑健全女性保险市场﹑开发女性保险产品﹑避免女性投保误区等建议。%Women increasingly play"half the sky"role in our society. Women’s health and safety involve domestic happiness, and also benefit the social harmony. China's insurance industry in recent years has witnessed a rapid development, but the female insurance is still in its infancy. The existence of insurance awareness is weak, insurance products are scarce, and services are not in good place, bad combination with inadequate social insurance and other issues. Based on the theoretical perspectives of life cycle, this paper analyzes woman's unique insurance needs for women insurance status and problems, proposes to increase the female insurance awareness, improve women's insurance market, the development of female insurance products, and to avoid misunderstanding.

  8. Life Cycle Design - a Route to the Sustainable Industrial Culture?

    DEFF Research Database (Denmark)

    Hauschild, Michael Zwicky; Wenzel, Henrik; Alting, Leo

    1999-01-01

    In the attempt to reorient Society's development in a more sustainable direction attention is focused on the environmental impact of products and systems over their entire life cycle, but how can the environmental life cycle perspective be introduced into the design of new solutions and how much...... can be optained through life cycle design? The authors' experience with integration of environmental considerations in product development is presented, ranging from the detailed interactive approach to the EDIP-method through various simplified approaches. The potential for environmental improvements...... is reviewed and the overall question of to what extent life cycle design is a route to the sustainable industrial culture is discussed....

  9. Private health insurance and quality of life: perspectives of older Australians with multiple chronic conditions.

    Science.gov (United States)

    Jeon, Yun-Hee; Black, Annie; Govett, Janelle; Yen, Laurann; McRae, Ian

    2012-01-01

    A qualitative study was conducted to explore in-depth issues relating to the health costs of chronic illness as identified in a previous study. A key theme that emerged from interviews carried out was the benefits and challenges of private health insurance (PHI) membership, and choices older Australians with multimorbidity make in accessing health services, with and without PHI. This is the focus of this paper. Semistructured interviews were conducted with 40 older people with multiple chronic conditions. Data were analysed using content analysis. Key motivators for maintaining PHI included: fear of an inability to access timely health care; the opportunity to exercise choice in service provider; a belief of being 'better off' both medically and financially, which was often ill-founded; and the core values of self reliance and independence. Most described financial pressure caused by rising PHI premiums as well as other out-of-pocket health related expenses. Many older people who can ill afford PHI still struggle to maintain it, potentially at the cost of their quality of life, based on beliefs about costs of health care that they have never properly assessed. The findings highlight the degree to which people whose resources are constrained are prepared to go to maintain access to private hospital care. Attention should be given to assisting older people to make informed and valid choices of health insurance derived from the facts, rather than being based on fear and assumptions.

  10. Nonparametric Fine Tuning of Mixtures: Application to Non-Life Insurance Claims Distribution Estimation

    Science.gov (United States)

    Sardet, Laure; Patilea, Valentin

    When pricing a specific insurance premium, actuary needs to evaluate the claims cost distribution for the warranty. Traditional actuarial methods use parametric specifications to model claims distribution, like lognormal, Weibull and Pareto laws. Mixtures of such distributions allow to improve the flexibility of the parametric approach and seem to be quite well-adapted to capture the skewness, the long tails as well as the unobserved heterogeneity among the claims. In this paper, instead of looking for a finely tuned mixture with many components, we choose a parsimonious mixture modeling, typically a two or three-component mixture. Next, we use the mixture cumulative distribution function (CDF) to transform data into the unit interval where we apply a beta-kernel smoothing procedure. A bandwidth rule adapted to our methodology is proposed. Finally, the beta-kernel density estimate is back-transformed to recover an estimate of the original claims density. The beta-kernel smoothing provides an automatic fine-tuning of the parsimonious mixture and thus avoids inference in more complex mixture models with many parameters. We investigate the empirical performance of the new method in the estimation of the quantiles with simulated nonnegative data and the quantiles of the individual claims distribution in a non-life insurance application.

  11. Designing a Pattern which Describes Factors influencing Success of E-Insurance in Iran’s Insurance industry: An Integrated View to Technology Acceptance by Policy Holders and Insurers’ E-Readiness

    Directory of Open Access Journals (Sweden)

    mohammad saleh torkestani

    2014-09-01

    Full Text Available E-insurance can be broadly defined as the application of Internet and related information technologies (IT to the production and distribution of insurance services. In a narrower sense, it can be defined as the provision of an insurance cover whereby an insurance policy is solicited, offered, negotiated and contracted online. While payment, policy delivery and claims processing may all be done online as well, technical and regulatory constraints may not allow these elements to be subjected to full e-commerce application in certain countries. However, insurance legislation worldwide is being continuously modified to accommodate online payment and policy delivery, and outside the discussion of e-insurance metrics, these elements should be included in the narrow definition. The anticipated efficiency effect of e-insurance is twofold. First, e-insurance should reduce internal administration and management costs by automating business processes, permitting real-time networking of company departments, and improving management information. Secondly, it should reduce the commissions paid to intermediaries since it can be sold directly to clients. For insurance sold to individuals, agents typically receive a commission of 10 to 15 percent for non-life policy sales and renewals and from 35 to 100 percent for life insurance policies in the first policy year, but much less on renewal (Bender and Marks, 2000 SIGMA, 2001 Fery, 2000. However, some of the income gained in commissions that are not paid to intermediaries must be spent on online customer acquisition and marketing. Assuming cost savings do materialize in a competitive market, they would be passed on to consumers thereby allowing them to buy more insurance, or other products or services.

  12. All-Cause Mortality for Diabetics or Individuals with Hyperglycemia Applying for Life Insurance.

    Science.gov (United States)

    Freitas, Stephen A; MacKenzie, Ross; Wylde, David N; Roudebush, Bradley T; Bergstrom, Richard L; Holowaty, J Carl; Hart, Anna; Rigatti, Steven J; Gill, Stacy J

    2016-01-01

    Diabetics and individuals with lab results consistent with a diagnosis of diabetes or hyperglycemia were extracted from data covering US residents who applied for life insurance between January 2007 and January 2014. Information about these applicants was matched to the Social Security Death Master File (SSDMF) and another commercially available death source file to determine vital status. Due to the inconsistencies of reporting within the death files, there were two cohorts of death cases, one including the imputed year of birth (full cohort of deaths), and the second where the date of birth was known (reduced cohort of deaths). The study had approximately 8.5 million person-years of exposure. Actual to expected (A/E) mortality ratios were calculated using the Society of Actuaries 2008 Valuation Basic Table (2008VBT) select table, age last birthday and the 2010 US population as expected mortality rates. With the 2008VBT as an expected basis, the overall A/E mortality ratio was 3.15 for the full cohort of deaths and 2.56 for the reduced cohort of deaths. Using the US population as the expected basis, the overall A/E mortality ratio was 0.98 for the full cohort of deaths and 0.79 for the reduced cohort. Since there was no smoking status information in this study, all expected bases were not smoker distinct. A/E mortality ratios varied by disease treatment category and were considerably higher in individuals using insulin. A/E mortality ratios decreased with increasing age and took on a J-shaped distribution with increasing BMI (Body Mass Index). The lowest mortality ratios were observed for overweight and obese individuals. The A/E mortality ratio based on the 2008VBT decreased with the increase in applicant duration, which was defined as the time since initial life insurance application.

  13. On the management of life insurance company risk by strategic choice of product mix, investment strategy and surplus appropriation schemes

    DEFF Research Database (Denmark)

    Bohnert, Alexander; Gatzert, Nadine; Jørgensen, Peter Løchte

    2015-01-01

    The aim of this paper is to analyze the impact of management’s strategic choice of asset and liability composition in life insurance on shortfall risk and the shareholders’ fair risk charge. In contrast to previous work, we focus on the effectiveness of management decisions regarding the product...... mix and the riskiness of the asset side under different surplus appropriation schemes. We propose a model setting that comprises temporary life annuities and endowment insurance contracts. Our numerical results show that the effectiveness of management decisions in regard to risk reduction strongly...... depends on the surplus appropriation scheme offered to the customer and their impact on guaranteed benefit payments, which thus presents an important control variable for the insurer....

  14. Countering fraud in the insurance industry : a case study of Malaysia

    OpenAIRE

    Mohamed, Mudzamir

    2013-01-01

    Insurance fraud is noted as one of the most significant challenges to the financial stability of the insurance market (Wells, 2011; Yusuf & Babalola, 2009). The main purpose of this study is to explore and access the magnitude of the issues in a company setting and gather responses from the general environment regarding this threat. Due to the Malaysian cultural set up, there are gaps of research in this topic as fraud issues are considered sensitive and taboo. Although some researchers have ...

  15. 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

    2003-08-01

    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.

  16. 17 CFR 274.303 - Form N-27I-2, notice of withdrawal right and statement of charges for variable life insurance...

    Science.gov (United States)

    2010-04-01

    ... withdrawal right and statement of charges for variable life insurance contractholders required pursuant to... variable life insurance contractholders required pursuant to Rule 6e-2 (§ 270.6e-2 of this chapter). Editorial Note: For Federal Register citations affecting Form N-27I-2, see the List of CFR Sections...

  17. 17 CFR 274.302 - Form N-27I-1, notice of right of withdrawal and refund for variable life insurance...

    Science.gov (United States)

    2010-04-01

    ... of withdrawal and refund for variable life insurance contractholders required pursuant to Rule 6e-2... for Exemptions § 274.302 Form N-27I-1, notice of right of withdrawal and refund for variable life insurance contractholders required pursuant to Rule 6e-2 (§ 270.6e-2 of this chapter). Editorial Note:...

  18. 17 CFR 270.6e-3(T) - Temporary exemptions for flexible premium variable life insurance separate accounts.

    Science.gov (United States)

    2010-04-01

    ... cash surrender value or certain non-forfeiture and settlement options which are required or permitted... value approximately equal to the reserves and other contract liabilities for such separate account are not chargeable with liabilities arising from any other business of the life insurer; (5) The value...

  19. 我国寿险公司范围经济效应的实证研究%An Empirical Study of the Economies of Scope in China's Life Insurance Companies

    Institute of Scientific and Technical Information of China (English)

    张宗军

    2013-01-01

      The insurance industry carried out separating operation since 1996.The number of life insurance companies increased dramatically. The new life insurance products had dominated the life insurance business. This article applied the translog cost function method to test the scope of economy factor of 29 life insurance companies during the period of 2005 to 2010.Based on each company's financial condition and operating history and other factors, the paper analyzed which companies existed true economies of scope and false economies of scope. Further the paper pointed out that the structural adjustment of life insurance business lack internal market incentives, and need to drive by the strong external force.%  我国自1996年实施产寿分业经营以来,人身保险业务快速增长,寿险公司数量急剧增加,寿险公司业务中新型寿险的比重不断上升,呈现出“一险独大”的市场状况。运用超越对数成本函数,对国内29家具有代表性的寿险公司2005-2010年期间的范围经济状况进行检验的结果显示:不同规模和背景的寿险公司的范围经济系数均比较明显,但是很多寿险公司所表现出来的范围经济性具有“欺骗性”。因此,寿险业务结构调整缺乏内部的市场激励,需要强有力的外部力量推动。

  20. A brief historical sketch of the Association of Life Insurance Medical Directors of America (ALIMDA), the predecessor of the American Academy of Insurance Medicine (AAIM).

    Science.gov (United States)

    Singer, Richard B

    2010-01-01

    This is a brief historical sketch of ALIMDA, the name of our professional organization when it was founded at a meeting of a few medical directors in New York City in 1898. The principal source for its contents is based on recollections of my own experience with ALIMDA/AAIM since I first became a member after appointment as an Assistant Medical Director of the company then known as New England Mutual Life Insurance Company, in Boston, in 1952. I was never an officer of ALIMDA or AAIM, but I attended most of its meetings, and I was involved in our mortality research activites.

  1. 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.

  2. Scoring life insurance applicants' laboratory results, blood pressure and build to predict all-cause mortality risk.

    Science.gov (United States)

    Fulks, Michael; Stout, Robert L; Dolan, Vera F

    2012-01-01

    Evaluate the degree of medium to longer term mortality prediction possible from a scoring system covering all laboratory testing used for life insurance applicants, as well as blood pressure and build measurements. Using the results of testing for life insurance applicants who reported a Social Security number in conjunction with the Social Security Death Master File, the mortality associated with each test result was defined by age and sex. The individual mortality scores for each test were combined for each individual and a composite mortality risk score was developed. This score was then tested against the insurance applicant dataset to evaluate its ability to discriminate risk across age and sex. The composite risk score was highly predictive of all-cause mortality risk in a linear manner from the best to worst quintile of scores in a nearly identical fashion for each sex and decade of age. Laboratory studies, blood pressure and build from life insurance applicants can be used to create scoring that predicts all-cause mortality across age and sex. Such an approach may hold promise for preventative health screening as well.

  3. 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.

  4. 我国保险业的发展策略%The Developing Strategies in China's Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    孔祥慧

    2011-01-01

    我国保险营销在营销体制方面存在许多问题,可从创新保险业营销观念、制定科学合理的营销发展战略、强化我国保险机制等方面发展保险营销,这对我国保险企业经营绩效和长久的竞争及发展具有重要意义。%This paper analyzes the present situation of the marketing situation of China's insurance,stresses problems existing in the present marketing system,and proposes new marketing concept and strategy in innovating marketing notion,making scientific and reasonable developing strategy,and strengthening insurance system.This it is of great significance to the operation efficiency and long-term competition and development of China's insurance industry.

  5. Markov chain modeling of policyholder behavior in life insurance and pension

    DEFF Research Database (Denmark)

    Henriksen, Lars Frederik Brandt; Nielsen, Jeppe Woetmann; Steffensen, Mogens;

    2014-01-01

    We calculate reserves regarding expected policyholder behavior. The behavior is modeled to occur incidentally similarly to insurance risk. The focus is on multi-state modelling of insurance risk and behavioral risk in terms of free policy risk and surrender risk. We discuss valuation techniques...... in the cases where behavior is modeled to occur independently or dependently of insurance risk, respectively. Ordinary differential equations make it easier to work with dependence between insurance risk and behavior risk. We analyze the effects of the underlying behavioral assumptions for two contracts...

  6. Culture, state and varieties of capitalism: a comparative study of life insurance markets in Hong Kong and Taiwan.

    Science.gov (United States)

    Chan, Cheris Shun-Ching

    2012-03-01

    This article examines the interplay between local culture, the state, and economic actors' agency in producing variation across markets. I adopt a political-cultural approach to examining why life insurance has been far more popular in Taiwan than Hong Kong, despite the presence of a cultural taboo on the topic of premature death in both societies. Based on interview data and documentary references, the findings reveal that as an independent state, the Taiwanese government heavily protected domestic insurance firms during their emergence. These domestic firms adopted a market-share approach by re-defining the concept of life insurance to accommodate the local cultural taboo. The colonial Hong Kong government, on the other hand, adopted laissez-faire policies that essentially favoured foreign insurance firms. When faced with the tension between local adaptation and the profitability of the business, these foreign firms chose the latter. Their reluctance to accommodate local cultures, however, resulted in a smaller market. I argue that state actions mediate who the dominant economic players are and that the nature of the dominant players affects the extent of localization. Specifically, the presence of competitive domestic players alongside transnational corporations is more likely to produce varieties of capitalism. © London School of Economics and Political Science 2012.

  7. The burden of falling on the quality of life of adults with Medicare supplement insurance.

    Science.gov (United States)

    Hawkins, Kevin; Musich, Shirley; Ozminkowski, Ronald J; Bai, Ming; Migliori, Richard J; Yeh, Charlotte S

    2011-08-01

    To study the impact of falling or risk of falling on quality of life (QOL) outcomes, a survey was mailed to a random sample of 15,000 adults with an AARP® Medicare Supplement plan insured by UnitedHealthcare from 10 states in 2008. Approximately 21% had fallen in the past year; 17% did not fall but reported balance or walking problems (i.e., at high risk of falling); and 62% were in the low-risk, no-falls comparison group. Multiple regression analyses showed the strongest predictors of falling or being at high risk of falling were advancing age, female gender, heart conditions, stroke, digestive disorders, arthritis, sciatica, diabetes, and hearing problems. Average physical and mental component scores were significantly lower for both those who fell and those at risk of falling than the comparison group, indicating that falling or being at risk of falling had a stronger negative influence on QOL than most of the comorbidities measured. Clinicians, patients, and families should be aware of the potential negative impact of falling and fear of falling on the QOL of older adults.

  8. Effect of Imposing Inheritance Tax on Life Insurance Business:a case study based on China Ping An Life Insurance Company%开征遗产税对人寿保险业务的影响

    Institute of Scientific and Technical Information of China (English)

    林娟娟

    2014-01-01

    以个案分析为主,同时辅以调查、文献分析、功能分析、数量研究、数学统计工具等方法对未来开征遗产税对中国平安人寿保险股份有限公司可能造成的影响进行研究分析。研究结果表明遗产税的开征在很大程度上对人寿保险的业务量、产品种类、营销、相关法律等方面产生影响。%Since Opening up and reform, the wealth accumulated by common people has greatly increased and the gap between the rich and the poor has widened. China has not yet imposed inheritance tax; however, the possibility of imposing inheritance tax is high. In recent years, academia and practice circle has given more attention to inheritance tax. It is human nature to go after profits and avoid unfavourable results, therefore, if inheritance tax is imposed, great effects will be exerted on life insurance business. Based on a case study, this paper takes advantage of surveys, literature analysis, and functional analysis, mathematical and statistical tools to study China Ping An Life Insurance Company. The results show that imposing inheritance tax will have impact on life insurance premiums, policy types, marketing strategies and relevant regulations.

  9. The Study on the Innovation and Development of Insurance Industry%保险行业创新发展研究

    Institute of Scientific and Technical Information of China (English)

    龚云飒; 孙理康

    2015-01-01

    如何通过互联网保险等创新发展实现保险业升级转型,成为当务之急.结合五中全会和"十三五"规划,对保险行业创新发展做了的一些探讨,主要包括保险理论创新、保险产品创新、产品定价方法、分享营销机制创新、跨界经营、监管机制创新以及保险业"十三五"展望等,提出了一些创新思路和设想.%It has become an urgent need to achieve the upgrade and transition of the insurance industry through Internet-based Insurance and other innovative approaches. Based on the 13th Five-Year Plan, this paper is aimed to explore the innovation and development of the insurance industry in terms of insurance theory, insurance products, product pricing methods, marketing channels, cross-border operations and supervision mechanism, present the outlook of Insurance Industry, and finally put forward some new thoughts and assumption.

  10. Life insurance securitisation in Europe : An overview on the effects of alternative capital resources and its relation to regulator and IFRS guidelines

    NARCIS (Netherlands)

    Walhof, P.; Dorsman, A.B.; Thibeault, A.

    2005-01-01

    Recently Life Insurance Securitisation practices have been probed in dedicated areas to access the wider capital markets. These developments have shown a rising interest among leading insurers and reinsurers to start building experience with securitisation practices, either for risk transfer, raisin

  11. 中国与世界保险市场的联动性研究——寿险与财险市场的比较%Analysis of the Co-movement of China and Global Insurance Markets --Comparable Analysis of Life Insurance and Non-life Insurance

    Institute of Scientific and Technical Information of China (English)

    粟芳; 谭中

    2012-01-01

    作为世界经济的一部分,我国的保险业与世界保险业的联系越来越紧密。我国保险市场不断学习世界保险市场的先进经验,世界保险市场的发展和变化也不断影响着我国保险市场。许多学者基于经济基础说和市场传染说的理论研究了中国证券市场与世界市场之间同步变化的现象及原因。本文借鉴证券市场联动性分析的理论和方法,利用中国和世界保险市场的数据进行了深入研究。分析结果表明,由于经济规律的同质性,中国寿险市场与世界寿险市场的发展轨迹基本相似,而财险市场的长期均衡性却不明显。短期来看,世界保险市场对中国保险市场的影响不大。但是,世界财产保险市场对中国财产保险市场单向溢出影响还是比较大的。特别是当世界财产保险市场发生了比较大的波动时,对中国财产保险市场的影响就更大。%As a component of the global economy,the ties between the Chinese insurance market and its global counter- parts are stronger and stronger. The Chinese insurance market is constantly drawing on advanced experiences of the inter- national market,while the development of global insurance market also constantly affects that of China. Based on the eco- nomic fundamentals theory and market contagion theory, some researches had explained the phenomenon and causes of the co-movement of the global securities markets. The paper borrowed on the securities market's global co-movement the- ory and method to conduct a research into the similar phenomenon in the insurance market with the insurance market da- ta of China and the global counterparts. The results showed that,due to the homogeneity of economic laws ,the co-move- ment of Chinese insurance market and global insurance market was very significant ,especially in the life insurance mar- ket. But the development of non-life insurance markets followed a significantly different

  12. Life cycle assessment-driven selection of industrial ecology strategies.

    Science.gov (United States)

    Ardente, Fulvio; Cellura, Maurizio; Lo Brano, Valerio; Mistretta, Marina

    2010-01-01

    The paper presents an application of the Life-Cycle Assessment (LCA) to the planning and environmental management of an “eco-industrial cluster.” A feasibility study of industrial symbiosis in southern Italy is carried out, where interlinked companies share subproducts and scraps, services, structures, and plants to reduce the related environmental impact. In particular, the research focuses on new recycling solutions to create open recycling loops in which plastic subproducts and scraps are transferred to external production systems. The main environmental benefits are the reduction of resource depletion, air emissions, and landfilled wastes. The proposed strategies are also economically viable and they suggest cost abatement for the involved companies. This research shows the need for a multidisciplinary approach to data processing and to complexity managing of the investigated systems. In this context, life-cycle thinking is required to be promoted throughout the economy, as well to be as a part of all decisions on products and other criteria such as functionality, health, and safety. The Life-Cycle Assessment approach can be assumed as a methodology for influencing decision makers to make sustainable choices.

  13. 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.

  14. 77 FR 4734 - Servicemembers' Group Life Insurance-Stillborn Child Coverage

    Science.gov (United States)

    2012-01-31

    ... Veterans' Benefits Improvement Act of 2008, Public Law 110-389, expanded the definition of ``insurable... affect in a material way the economy, a sector of the economy, productivity, competition, jobs,...

  15. 我国寿险营销方式转变研究%Transformation of Life Insurance Distribution Patterns

    Institute of Scientific and Technical Information of China (English)

    魏华林; 黄余莉

    2012-01-01

    There are a variety of indicators that the life insurance distribution patterns in mainland China have en- countered a bottleneck,which is an inflection point for an urgent need of change of development patterns. Using the experiences of Japan and Taiwan for reference and combined with the current market realities and regulatory policies, we think life insurance marketing methods will gradually transit to a connotation-intensive mode of development char- acterized by specialization, professionalization and refinement ;a differentiation of target markets and target customers, a corresponding adjustment of distribution channels and marketing models ; and a gradually diversified sales channels. Transformation in life insurance distribution patterns will go through two paths : the improvement of the old system, and the innovation of new channels and new modes. The essence of both paths lies with innovation. In addition ,the innova- tion of culture and concepts in life insurance distribution plays a much more crucial role ,which has a direct impact on the process of transforming life insurance distribution patterns.%多种迹象表明,我国大陆寿险营销方式遇到了瓶颈,发展进入到一个拐点,亟待转变发展方式。借鉴日本和台湾的经验,结合当前市场实际和监管政策,寿险营销方式将逐步向专业化、职业化、精细化的内涵集约型转变;目标市场和目标客户分化,销售渠道和营销模式相应调整;销售渠道逐步多元化。寿险营销方式转变依靠两条路径:一是旧体制改良;二是新渠道、新模式的创新,两者本质都是创新。寿险营销文化创新和观念创新至关重要,直接影响寿险营销方式转型的进程。

  16. Analysis of Distribution of Claim Ratios and Minimum Solvency Margin for Chinese Non-Life Insurance Companies%我国财险公司赔付率的统计分布与最低偿付能力额度分析

    Institute of Scientific and Technical Information of China (English)

    杨贵军; 赵仲丽; 雷媛

    2012-01-01

    The minimum solvency margin of non--life insurance companies is affected by many factors, such as ones from non--life insurance companies, Chinese insurance industry, international economic circumstance, and et al. Ratio model takes the claim rate as the most important variable, and gives simple and applicable measurement o{ the minimum solvency margin for a non-- life insur- ance company. This paper verifies the distributed identity of claim ratios of Chinese non-- life insur- ance companies by using linear model. The results are used to improve the ratio model and deter mine minimum solvency margin of Chinese non--life insurance companies that have more confidence of the conclusion obtained. Empirical analysis shows that solvency classification regulation for Chi nese non--life insurance companies is an optimal option. It should improve regulatory system of Chinese non--life insurance company.%财险公司最低偿付能力的影响因素很多,包括财险公司内部因素、国内保险业发展状况和国际经济环境变化等。比率法将赔付率作为偿付能力的最重要影响因素,给出了财险公司最低偿付能力额度的简单且实用的度量。本文首先利用线性模型分析我国各财险公司赔付率的分布规律,再结合比率法分析我国财险公司最低偿付能力额度,提高比率法分析结果的可信度。分析结果显示,我国财险公司偿付能力额度应当分类监管。

  17. Insurance fraud on the Czech insurance market

    OpenAIRE

    Jastremská, Kateřina

    2015-01-01

    The thesis deals with insurance fraud on the Czech insurance market. The introductory section describes the actual state of the insurance market. Insurance fraud is presented in terms of legislation, their species and the general alarming indicators. The next section deals with internal fraud and depictures a brief profile of the typical internal fraudster, indicators of their suspicious behavior and ways of prevention. The following chapter describes the external fraud in the life and non-li...

  18. Evaluating and Ranking Businesses’ Branches, Based on Clients’ Perception, a Study in Insurance Industry

    Directory of Open Access Journals (Sweden)

    Mohammad Ali Abdolvand

    2013-02-01

    Full Text Available Both financial and non financial information is needed for decision making by many businesses. Accurate ranks of business branches, is very important information for management and many outsiders as owners, potential investors, labor union, government agencies, bankers, other creditors and the public, because all these groups have some interest in the business that will be served by information about its position and ranks. MCDM method is useful to rank businesses’ branches and 3-stage procedure (S.E.T can be used to rank service organizations such as insurance firms, travel agencies and banking. The present study aims to evaluate and rank a business’ branches based on the clients’ perception of their shopping experience. For this purpose, a sample of 270 clients who has had the experience of shopping from XYZ insurance firm in Shiraz-Iran was used in order to collect data and 240 questionnaires were returned and used in this study. So service quality based on the clients’ perception by SERVPERF was evaluated, then for calculating the criteria weights Entropy method was applied and finally, Technique for Order Preference by Similarity to Ideal Solution (TOPSIS used to achieve the final ranking results. Branches final ranks are: C, A, B. full results of ranking branches are shown in Table 7 and 8.

  19. 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.

  20. 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.

  1. Reflexiones sobre el anteproyecto de ley de contrato de seguro y la designación del beneficiario en el seguro sobre la vida = Reflections on the draft law on the insurance contract and beneficiary designation in on life insurance

    Directory of Open Access Journals (Sweden)

    María Angustias Díaz Gómez

    2012-07-01

    Full Text Available En este trabajo se analiza el Anteproyecto de Ley español de Contrato de Seguro, de 8 de abril de 2011, centrándonos en las novedades más significativas que contiene, en el ámbito de los Seguros de las personas, en el seguro sobre la vida y, de un modo más específico, respecto al beneficiario.This paper analyzes the Spanish Draft Law on Insurance Contracts (Anteproyecto de Ley de Contrato de Seguro, dated April 8, 2011, focusing on the most significant developments that contains, in the field of insurance of persons, in life insurance, and in a more specific regard to the insurance beneficiary

  2. Safety Margins for Systematic Biometric and Financial Risk in a Semi-Markov Life Insurance Framework

    Directory of Open Access Journals (Sweden)

    Andreas Niemeyer

    2015-01-01

    Full Text Available Insurance companies use conservative first order valuation bases to calculate insurance premiums and reserves. These valuation bases have a significant impact on the insurer’s solvency and on the premiums of the insurance products. Safety margins for systematic biometric and financial risk are in practice typically chosen as time-constant percentages on top of the best estimate transition intensities. We develop a risk-oriented method for the allocation of a total safety margin to the single safety margins at each point in time and each state. In a case study, we demonstrate the suitability of the proposed method in different frameworks. The results show that the traditional method yields an unwanted variability of the safety level with respect to time, whereas the variability can be significantly reduced by the new method. Furthermore, the case study supports the German 60 percent rule for the technical interest rate.

  3. 从中融人寿举牌看险资对资本市场的影响及未来走向%On Influence of Insurance Capital on Capital Market and Future Trend of Insurance Capital from Perspective of "Announcement for 5% Change" Made by Zhongrong Life Insurance Co., Ltd

    Institute of Scientific and Technical Information of China (English)

    王鹏智; 苗长青

    2016-01-01

    中融人寿举牌资本市场一方面有长期避险配置的价值;另一方面,能提高保险资金的投资收益。文章通过中融人寿举牌入手,进一步分析险资举牌过程中可能对资本市场产生的影响,并指出未来险资的发展方向。%The "Announcement for 5% Change" in capital market made by Zhongrong Life Insurance Co., Ltd. helps to avoid risks and to raise the income in insurance investment. From the "Announcement for 5% Change" made by Zhongrong Life Insurance Co., Ltd., a further analysis is made of the influence of insurance capital on capital market and of the future trend of insurance capital.

  4. Why Did Early Industrial Capitalists Suggest Minimum Wages and Social Insurance?

    DEFF Research Database (Denmark)

    Reckendrees, Alfred

    arbitration panels of employers and labour representatives. The proposals did not gain support from the Prussian ministries arguing collective agreements would violate freedom of contracting. Entrepreneurs demanding social welfare and the Prussian state defending economic liberalism – this challenges...... the perception of the Bismarckian welfare state as a means to reconcile labour with the German state. Yet, in the early 19th century the district of Aachen was the most advanced economic region in Prussia in regard with industrial employment and modern industrial organisation. Producing quality goods...

  5. 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. PMID:28798705

  6. 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.

  7. Work-Life Balance: A Study In The Petroleum Industry

    Directory of Open Access Journals (Sweden)

    Judy De Villiers

    2003-11-01

    Full Text Available A qualitative study was completed to discover how employees of a company in the petroleum industry define and experience the phenomenon of work-life balance, to identify the workplace determinants of work-life imbalance and to elicit some solutions for the problem. It was found that work-life balance is a personal issue that varies across time and situations and the underlying conflict experienced pertains to role overload and role interference. The most significant work-life conflict arises from complex workplace issues, including managing change, supervisory and technical competences, leadership, roles and accountabilities, and culture. Solutions to address the workplace issues, as well as the development of individual balance-enabling skills, are suggested. Opsomming’n Kwalitatiewe studie is onderneem om vas te stel hoe die werknemers van ’n maatskappy in die petroleumnywerheid die fenomeen van die werk-lewe ewewig definieer en ervaar, om die werkpleksdeterminante van ’n werk-lewe onewewigtigheid te identifiseer en om sekere oplossings vir die probleem aan die hand te doen. Dit is gevind dat werk-lewe ewewig ’n persoonlike saak is wat oor tyd en omstandighede varieer en die ervaarde onderliggende konflik na roloorladingsrolle en -inmenging verwys. Die mees betekenisvolle werk-lewe konflik tree na vore vanuit komplekse werkplekaangeleenthede, insluitende die bestuur van veranderings, toesighoudende en tegniese vaardighede, leierskap, rolle en aanspreeklikheid, asook kultuur. Oplossings om die werkpleksake aan te spreek, asook die ontwikkeling van individuele vaardighede om ’n ewewig teweeg te bring, word voorgestel.

  8. 78 FR 18634 - ING Life Insurance and Annuity Company, et al; Notice of Application

    Science.gov (United States)

    2013-03-27

    ... investment adviser and an indirect wholly owned subsidiary of ING Groep, N.V.\\1\\ The Replacement Fund is sub... announced that ING and its U.S. insurance affiliates, including the Companies, are preparing for a base case... affiliates, including DSL. 6. The Contracts are individual variable annuity contracts. Each of the...

  9. Additional Actions Needed to Mitigate Risks of Unsuitable Life Insurance Sales to Junior Enlisted Service Members

    Science.gov (United States)

    2011-08-23

    three stated they purchased the product in a hotel lobby outside Osan Air Base, Korea; and • one did not provide the location where he purchased...at which a kiosk in front of the store displayed the insurance agency’s name and the sign, “Attention Military Members Register to Win.” The

  10. 78 FR 75581 - Minnesota Life Insurance Company, et al.; Notice of Application

    Science.gov (United States)

    2013-12-12

    ... Securities and Exchange Commission (``Commission''). ACTION: Notice of application for an order pursuant to..., ``Applicants''). SUMMARY: Summary of Application: Applicants seek an order amending an existing order pursuant... purchase payments under certain deferred variable annuity contracts issued by the Insurance Company....

  11. 32 CFR Appendix B to Part 50 - Overseas Life Insurance Registration Program

    Science.gov (United States)

    2010-07-01

    ... the laws of the State where the company's headquarters are located. d. A statement that the company... license. 2. General agents and agents may represent only one registered commercial insurance company. This..., MILITARY AND CIVILIAN PERSONAL COMMERCIAL SOLICITATION ON DOD INSTALLATIONS Pt. 50, App. B Appendix B to...

  12. 75 FR 60573 - Federal Employees' Group Life Insurance Program: Miscellaneous Changes, Clarifications, and...

    Science.gov (United States)

    2010-10-01

    ...; to provide for the continuation of coverage opportunities for Federal employees called to active duty... continuation of FEGLI coverage for up to 24 months for Federal employees called to active duty. FEGLI coverage... Sec. 870.506(a). (6) Newly eligible employees must be in pay and duty status before Optional insurance...

  13. What is the difference? Evidence on the distribution of wealth, health, life expectancy, and health insurance coverage.

    Science.gov (United States)

    Kennickell, Arthur B

    2008-09-10

    There is a literature of long standing that considers the relationship between income and differentials in mortality and morbidity, but information on differentials over the distribution of accumulated wealth have been far more scarce and subject to measurement problems. This paper provides evidence from the Survey of Consumer Finances, which is designed as a survey of wealth, on the distribution of wealth and income and how those distributions have shifted in recent years. Particular attention is paid to the distribution of wealth across minority groups and across age groups. The paper also examines the relationship between wealth and health status, life expectancy, and health insurance coverage.

  14. Insurance status as a sociodemographic risk factor for functional outcomes and health-related quality of life among youth with sickle cell disease.

    Science.gov (United States)

    Robinson, M Renee; Daniel, Lauren C; O'Hara, Emily A; Szabo, Margo M; Barakat, Lamia P

    2014-01-01

    Youth with sickle cell disease (SCD) are at risk for functional limitations and poor health-related quality of life (QoL). This study examined sociodemographic factors that may interact with medical complications to reduce functional ability and QoL among youth with SCD. Fifty-three patient/caregiver pairs (children 8 to 18 years; M=12.3 y) with SCD completed the Functional Disability Inventory and Pediatric Quality of Life Inventory questionnaires. Medical database reviews were conducted to collect health care utilization, disease complications, and sociodemographic information; insurance type (public vs. private insurance) and family zip code to access Census tract data reflecting neighborhood distress. Insurance type, but not neighborhood sociodemographic risk indicators, was significantly associated with disease-related complications and QoL. There were significant differences in both health care utilization and QoL by insurance type. Complications were higher in the group with public insurance. Insurance type seems to be more strongly related to disease outcomes and QoL than neighborhood sociodemographic distress. Closer attention to the contribution of insurance type to health outcomes may provide important insight to potential barriers for disease management. These issues are critically important for health care efficiency and equity for poor and underserved children with chronic health conditions.

  15. 38 CFR 8.0 - Definitions of terms used in connection with title 38 CFR, part 8, National Service Life Insurance.

    Science.gov (United States)

    2010-07-01

    ... § 8.0 Definitions of terms used in connection with title 38 CFR, part 8, National Service Life... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Definitions of terms used in connection with title 38 CFR, part 8, National Service Life Insurance. 8.0 Section 8.0...

  16. The Efficiency of the European Non-Life Insurance: CEO Power, Macroeconomic, and Market Characteristics Impact

    Directory of Open Access Journals (Sweden)

    Walid Bahloul

    2016-03-01

    Full Text Available A numbers of studies focusing on the determinant of the insurance market efficiency have increased in the last decade. In fact, many factors, like the CEO’s power, can influence the efficiency in the insurance firm. The purpose of this research is to analyze the relationship between efficiency, measured by the cost function using the stochastic frontier approach (SFA methodologies, and the market structure, as well as the macroeconomic variables. In addition, it focuses on identifying the impact of the integration of the CEO power variable in the cost function on this relation. The result shows that after the consideration of the CEO power score in the cost efficiency, the relation between insurance efficiency and the determinant of market development, as well as the domestic economy, has changed and become more significant. The result also shows that the firms become more efficient and more profitable with a higher concentration ratio and this is in accordance with the structure-conduct-performance (SCP theory.

  17. 基于风险因素的保险业效率研究%A Study on Efficiency of China Insurance Industry Based on Risk Factors

    Institute of Scientific and Technical Information of China (English)

    胡颖; 叶羽钢

    2009-01-01

    By introducing into the DEA model for efficiency evaluation two risk··assessment factors which re-flect the risk level of insurers and by using the method of data analysis,we do in this study an empirical analysis of the efficiency level of the property-liability insurers and life insurers in China from 2002 to 2007,and com-pare the efficiency when risks are not taken into account and the efficiency when risk factors are considered.The results show that some life insurers improve their efficiency by taking more risks in life insurance market,but this phenomenon is not significant in property-liability insurance market.In conclusion,the introduction of risk factors into the analysis of efficiency has important realistic significance for making efficiency evaluation pre-cise and objective.%通过把反映保险公司风险状况的两个衡量指标纳入效率评估的DEA模型,利用数据包络分析方法对我国产险和寿险公司2002年-2007年的效率水平进行实证分析,比较考虑风险因素前后的效率变化情况.实证研究发现,在我国寿险公司中,有些公司通过承担较高的风险,提高了未经风险调整的效率水平;但在产险公司中,这种现象却不明显.将风险因素纳入效率的分析框架,对于效率评估的准确性和客观性都具有重要的现实意义.

  18. Insuring Solar Photovoltaics: Challenges and Possible Solutions; (Revised)

    Energy Technology Data Exchange (ETDEWEB)

    Speer, B.; Mendelsohn, M.; Cory, K.

    2010-02-01

    Insuring solar photovoltaic (PV) systems poses certain challenges. Insurance premiums, which can represent a significant part of overall costs for PV developers, can affect market competition. The market for certain types of insurance products is limited. Historical loss data is lacking, and test data for the long-term viability of PV products under real-life conditions is limited. Insurers' knowledge about PV systems and the PV industry is uneven even as the industry introduces innovative contractual structures and business models. Interviews conducted for this report with PV project developers, insurance brokers, and underwriters suggest government actions aimed at better testing, data collection, and communication could facilitate the development of a market for PV insurance products. This report identifies actions by governments, national laboratories, and other stakeholders that could accelerate the development of insurance products in support PV systems. Such actions include: increasing understanding of the solar PV industry among insurance professionals; expanding the availability of PV historical loss data; evaluating the expansion of renewable energy business classification; developing module and component testing capabilities and services offered by federal labs; and, advancing industry standards for PV system installers.

  19. Analysis of the Patterns of Life Insurance Consumption and the Impacts of Related Factors%居民人身保险消费行为及其影响因素分析——基于粤东四市①人身保险消费行为调查

    Institute of Scientific and Technical Information of China (English)

    刘坤坤; 万金; 黄毅

    2012-01-01

    The insurance consumption is the original driving force for the development of the insurance industry. At present, having an in-depth understanding of the consumers'insurance consumption mentality and consumption behav- iors is the prerequisite for effectively tapping the immense potential of the insurance market. Based on the relevant life insurance consuming behavior surveys, the paper conducted a research on factors affecting insurance consumption of different consumer groups, using factorial analysis and cluster analysis methods. The research came to the conclusion that income level was the fundamental factor constraining insurance consumption, but the industry could significantly boost insurance consumption through enhancing insurance and risk awareness, improving on the supply side and offer- ing quality services.%保险消费是保险业发展的原始动力。深入了解居民保险消费心理和消费行为是有效开发我国潜在巨大保险需求市场的前提。本文在问卷调查的基础上,采用因子和聚类分析方法,对影响保险消费行为的因素和不同保险消费群体进行分析,得出收入水平是限制保险消费的基础因素,但行业在培育公众风险和保险意识、提供有效供给和优质服务方面仍大有可为。

  20. 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.

  1. 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.

  2. 浅析保险代位权应在社会保险中运用%Analysis on Application of Insurance Subrogation in Social Insurance

    Institute of Scientific and Technical Information of China (English)

    范秀文

    2012-01-01

    The insurance subject of social insurance is the people,but not objects.Social public institutions provide security service for body,health and life of people through the medical insurance,industrial injury insurance,birth insurance,unemployment insurance and pension insurance,etc.This means that the social insurance is included in person insurance category.So,for the analysis about the application of insurance subrogation in social insurance,it should be firstly analyzed in life insurance.The analysis about the application of insurance subrogation in property insurance of China is narrow scoped,and does not adapt the international insurance law practice.By expanding the applicable scope of insurance subrogation,it can be align with international insurance law practice,and more perfect as well.%社会保险的保险标的是人而不是物,社会公共机构通过医疗保险、工伤保险、生育保险、失业保险及养老保险等几个方面为人的身体、健康、生命提供保障服务。由此可见,社会保险囊括在人身保险范畴里面。那么,要证明保险代位权应在社会保险中运用首先要分析保险代位权在人身保险中的运用。我国目前保险代位权仅在财产保险中运用,适用范围狭小,与国际保险法惯例不适应。扩大保险代位权适用范围,既可以和国际接轨又可以提高其完备性。

  3. 人寿保险公司资金运用研究%Research on Application of Funds of Life Insurance Company

    Institute of Scientific and Technical Information of China (English)

    夏宏雄

    2012-01-01

    This paper lakes the environment faced by the application of insurance funds as research object, starts from the reality of the application of China insurance funds, mainly analyzes and contrasts mode of operation of real life insurance funds from policy perspective to enterprise perspective, based on this, discusses the enlightenment to the application of China insurance funds.%本文以保险资金运用所面临的环境为研究对象,以中国保险资金运用的现实为切入,从政策视角到企业视角,着重分析对比现实人寿保险资金的运作方式,并由此探讨对我国保险资金运用的启示.

  4. Association of cholesterol, LDL, HDL, cholesterol/ HDL and triglyceride with all-cause mortality in life insurance applicants.

    Science.gov (United States)

    Fulks, Michael; Stout, Robert L; Dolan, Vera F

    2009-01-01

    Determine the relationship between various lipid tests and all-cause mortality in life insurance applicants stratified by age and sex. By use of the Social Security Death Master File, mortality was determined in 1,488,572 life insurance applicants from whom blood samples were submitted to Clinical Reference Laboratory. There were 41,020 deaths observed in this healthy adult population during a median follow-up of 12 years (range 10 to 14 years). Results were stratified by 4 age-sex subpopulations: females, ages 20 to 59 or 60+; and males, ages 20 to 59 or 60+. Those with serum albumin or = 2.1 mmol/L were excluded. The middle 50% of lipid values specific to each of these 4 age-sex subpopulations was used as the reference band. The mortality rates in bands representing other percentiles of lipid values were compared with the mortality rate in the reference band within each age-sex subpopulation. In contrast to some published findings from general populations, lipid test results are only moderately predictive of all-cause mortality risk in a life insurance applicant population and that risk is dependent on age and sex. At ages below 60, HDL values are associated with a "J" shaped mortality curve and at ages 60+, total cholesterol is associated with a "U" shaped curve. The total cholesterol/HDL ratio may serve as a useful single measure to predict mortality risk, but only if stratified by age and sex, and only if high HDL values at younger ages and lower total cholesterol values at ages 60+ are recognized as being associated with increased risk as well. Using LDL or non-HDL cholesterol instead of total cholesterol does not improve mortality risk discrimination; neither does using total cholesterol or triglyceride values in addition to the total cholesterol/HDL ratio. The total cholesterol/HDL ratio is the best single measure of all-cause mortality risk among the various lipid tests but is useful only if viewed on an age- and sex-specific basis and is only a modest

  5. 随机利率下的增额寿险%Increasing Life Insurance Model under Random Rates of Interest

    Institute of Scientific and Technical Information of China (English)

    王丽燕; 王丽娟; 杨德礼

    2006-01-01

    We discuss the increasing life insurance that the death benefit will be paid as soon as the insured dies. We establish its dual random model in which the force interest accumulation function is joint by both reflected Brownian motion (RBM) and Poisson process, and obtain all orders of moment of the present value of the benefits. The concise expressions of moment are given in the case that death happens uniformly in every policy year, and the examples are also given.%我们考虑即时给付的增额寿险模型,根据保费的实际投资情况以及突发事件对利率的影响,将随机利率采用反射布朗运动(RBM)和Poisson过程联合建模,给出即时给付的增额寿险的给付现值的各阶矩,并在死亡均匀分布的条件下得到矩的简洁表达式.最后用数值例子说明模型与计算方法的正确性与有效性.

  6. 我国寿险产品结构分析与优化%An Analysis of Life Insurance Product Structure and Optimization

    Institute of Scientific and Technical Information of China (English)

    李杰

    2012-01-01

    Life insurance is a risk management tool that deals with the uncertainty of life circle,whose product structure is affected by the factors including the developing standard of finance market,inflation rate,interests,literary level and individual income standard etc.In China,the structure of life insurance products is out of balance.The guarantee function is deviated and the innovation ability of product is low.Therefore,in order to optimize life insurance product structure,Life insurance company should change business growth pattern,establish scientific concept of adjusting product structure,improve marketing ability,develop insurance e-business greatly,guide and cultivate public with insurance awareness properly.%人寿保险是一种处理生命周期不确定性的风险管理工具,其产品结构受金融市场发展水平、通货膨胀率、利率、文化教育水平、个人收入水平等因素的影响。我国寿险产品结构存在结构失衡、偏离保障功能、产品创新能力低等问题,为此优化寿险产品结构,寿险公司应转变业务增长模式,树立科学的产品结构调整理念,提高产品营销能力,大力发展保险电子商务,正确引导和培育公众的保险意识。

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

    African Journals Online (AJOL)

    Insurance requirements and practices of Ethiopia's construction sector. ... The principles of insurance and types of insurance policies in construCtion industry in ... Insurable interest, Indemnity, Liability, Policy, Premium, Risk management.

  8. SuperMap GIS Application in the Insurance Industry%SuperMap GIS 在保险行业的应用研究

    Institute of Scientific and Technical Information of China (English)

    郗连霞

    2013-01-01

    Geographic information system plays a vital role in auto insurance , property insurance and other insurance businesses , the position of the incident , breakdown assistance , surveying scheduling , incident handling , vehicle repair , damage claims are insepara-ble from GIS analysis .GIS application in the insurance industry can utilize the "one map"regional information resources management and application mode to effectively integrate the basic geographic information , disaster information and insurance business data , so that it can analyze the disaster risk situation respectively or comprehensively according to the indexes such as the customer , the insurance object, time, space, disaster, etc and provide the risk data services and visualization decision analysis support .%地理信息系统在车险、财险等保险业务中起着至关重要的作用,事发地定位、故障救援、查勘调度、事故处理、车辆修理、定损理赔都离不开GIS在诸多保险业务中的辅助决策。 GIS在保险行业的应用可基于“一张图”的区域信息资源管理与应用模式将基础地理信息、灾害信息等外部数据和承保理赔等业务数据在空间上进行有效整合与集成,从客户、标的、时间、空间、灾害指标等多个维度单独或者联合给出灾害风险情况,提供风险数据应用服务和可视化决策分析支持。

  9. 78 FR 77366 - Federal Employee Dental and Vision Insurance Program; Qualifying Life Event Amendments

    Science.gov (United States)

    2013-12-23

    ... Event Amendments AGENCY: U.S. Office of Personnel Management. ACTION: Notice of Proposed Rulemaking... can make enrollment changes under the same qualifying life events (QLEs) as enrollees under the FEHB... definition of QLE qualifying life event to read as follows: Sec. 894.101 Definitions. * * * * * QLE...

  10. 建筑业参加工伤保险比率低之分析%Analyzing on Low Rate of Construction Industry to Participate in Industrial Injury Insurance

    Institute of Scientific and Technical Information of China (English)

    张军

    2015-01-01

    建筑业是发生工伤事故高风险行业,也是农民工就业人数较多的行业,如何使建筑企业参加工伤保险,有效保障工伤人员的权益,是社会保障部门的重要工作。本文对建筑业参加工伤保险比率低进行分析,对于推进建筑企业参加工伤保险有参考作用。%Construction industry is at high-risk of industry injury. It also employs large numbers of migrant workers. How to make construction enterprises attend industrial injury insurance to ensure effectively protecting the right of the injured is an important task for the social security department. In this paper, the reason of low rate of the construction enterprises to participate in industrial injury insurance is analyzed. It can be referred to promote them buying this kind of insurance.

  11. Strategies on Short-term Health Insurance Claims Risk Management Life Insurance Company%寿险公司短期健康险理赔风险管理对策研究

    Institute of Scientific and Technical Information of China (English)

    张懿

    2014-01-01

    Health insurance business in the life insurance market is in a slow development compared with other types of insurance, and there are diverse potential risks in its claiming due to the factors such as the unwilling cooperation of medical institutions and other third parties and over-treatment of patients. Hence, the insurance companies has always kept a high loss ratio on this type of insurance business. It is very necessary to carry out the risk management on the claims process and make up relevant strategies. Within the improvable domain, the companies can reduce the needless losses resulting from risks in claims links and the loss ratio, raise the renewal ratio of insurance, and make favorable benefits.%我国人身保险市场上的健康保险业务与其他险种相比发展缓慢,且在理赔时往往因医疗机构等第三方配合度低、患者过度治疗等因素存在各类理赔风险隐患,使得保险公司在这一险种业务上的赔付率过高。因此,对理赔过程进行风险管理并制定相应对策是非常必要的。在可改进的范围内,公司可以减少因理赔各环节风险因素可能带来的不必要赔付,降低赔付率,提高续保率,创造良好的收益。

  12. Living with life insurance: a qualitative analysis of the experience of male implantable defibrillator recipients in Spain.

    Science.gov (United States)

    Palacios-Ceña, Domingo; Losa Iglesias, Marta E; Losa, Marta E; Fernández-de-Las-Peñas, César; Salvadores-Fuentes, Paloma

    2011-07-01

    The implantation of defibrillators should not be studied simply on the basis of clinical improvement or quality of life: it is also important to understand the significance, which the recipients attach to the defibrillator and their experiences with it. The aim of this work was, therefore, to determine the experience of Spanish implantable defibrillator recipients. A qualitative phenomenological study. Purposeful sampling of male implantable defibrillator recipients older than 18 years of age attended at the defibrillator consultancy at the Hospital Fuenlabrada or belonging to the Heart Patients' Association (Asociación de Pacientes Coronarios, APACOR). A secondary, theoretical sampling was also carried out to gain a more in-depth understanding of certain aspects identified in the first sampling, such as living with the discharges and difficulties during sexual activity. Data were collected using unstructured and semi-structured questionnaires and applying a question guide, field notes and the recipients' personal diaries/letters. Data collection was terminated once theoretical saturation was reached. Data were analysed using the Giorgi method. Finally, the seven themes, which showed what it means to be an implantable cardioverter-defibrillator recipient, were described. The defibrillator is perceived positively and is considered to be a form of life insurance, whereas the discharges are a limiting factor. The recipient's outlook on life changes. Acceptance of the changes resulting from the implant leads to the development of strategies to facilitate everyday life. An understanding of the significance attached by recipients to their disease, diagnosis and treatment allows their behaviour and expectations to be understood. Provide the basis for nursing assessment after discharge, understand the effects of the device in the recipient and track the process of adapting the recipient to daily life. © 2011 Blackwell Publishing Ltd.

  13. Health insurance basic actuarial models

    CERN Document Server

    Pitacco, Ermanno

    2014-01-01

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

  14. Aggregate life insurance in fractional jump-diffusion environment%分数跳-扩散下的综合人寿保险

    Institute of Scientific and Technical Information of China (English)

    吴晓蕊; 薛红; 李军

    2011-01-01

    An aggregate life insurance model is studied. The traditional constant interest rate model is extended in life insurance. A mathematic model of interest force is established driven by fractional Brownian motion and Poisson process. The accurate present value formula for life annuity, whole life insurance and returnable premiums are obtained from this model. Through the regulation of parameters, various insurance products can be gained.%以综合人寿保险模型为研究对象,改进传统的常值利率的寿险模型,利用分数Brown运动和Poisson过程联合对利息力建立数学模型,获得了年金,终身寿险的精算现值公式,以及几种保险产品综合起来的人寿保险模型,通过调整参数,可获得不同的保险产品.

  15. Life Insurance for Consumers: A Teacher's Guide. A Teacher Inservice Module for Secondary Level Consumer Education Units in Home Economics, Business Education, Social Studies and Related Areas.

    Science.gov (United States)

    Thelen, Judith

    This teacher-oriented learning module for secondary level consumer education teachers, the first in a series of three, was developed to provide information on life insurance and ideas for conveying this content to students. The module begins with a definition and general goals of consumer economics, an overview, a pre-test, a performance objective…

  16. Use of medical insurance claims for surveillance of occupational disease. An analysis of cumulative trauma in the auto industry.

    Science.gov (United States)

    Park, R M; Nelson, N A; Silverstein, M A; Mirer, F E

    1992-07-01

    Medical insurance claims, linked with work histories for a large automotive manufacturer over a 3-year period, identified large numbers of cases of potentially work-related diseases, including 30,600 episodes of probable cumulative trauma disorders (CTD). CTD incidence rates were calculated within five plants, and high-risk areas identified, however, unknown differences in medical insurance coverage by exposure group limited interpretation. Case-control analyses, with controls also identified by insurance claims, addressed coverage and produced age-adjusted and sex-adjusted estimates of risks. All five plants had departments with statistically significant, elevated risks for one or more of the diagnoses carpal tunnel syndrome, CTD of other upper extremities, rotator cuff syndrome, CTD of the neck and of the lower back. Medical insurance claim data linked with work history provide the basis for practical and comprehensive surveillance for CTD and potentially a variety of other occupational diseases.

  17. Life Cycle Based Environmental Approach in the Industry

    DEFF Research Database (Denmark)

    Jørgensen, Tine Herreborg; Thrane, Mikkel

    2002-01-01

    This paper discusses the need for industries to extend the focus from environmental impacts in their own production, towards considerations of impacts and improvement potentials in the whole product chain.......This paper discusses the need for industries to extend the focus from environmental impacts in their own production, towards considerations of impacts and improvement potentials in the whole product chain....

  18. The Environmental Impact of Industrial Bamboo Products: Life-cycle Assessment and Carbon Sequestration

    NARCIS (Netherlands)

    Vogtlander, J.G.; Van der Lugt, P.

    2014-01-01

    This report gives a Life-Cycle Assessment (LCA) and carbon footprint analysis on a selection of industrial bamboo products. The LCA is made for cradle-to-gate, plus the end-of-life stages of the bamboo products. For end-of-life it is assumed that 90% of the bamboo products are incinerated in an elec

  19. Toward an Ecosystem for Innovation in a Newly Industrialized Economy: Singapore and the Life Sciences

    Science.gov (United States)

    Wong, Poh-Kam

    2006-01-01

    In the late 1990s the Singapore government embarked on a set of far-reaching strategies intended to develop the city-state into one of the major life science R&D and industrial clusters in Asia. Besides efforts to attract leading overseas life science companies to establish operations in Singapore, the government has developed new life science…

  20. 中国寿险制度的内生性分析%China Life Insurance System's Endophytism Analysis

    Institute of Scientific and Technical Information of China (English)

    薛梅

    2011-01-01

    世界寿险发展,先有商业性的寿险经营,之后才是社会保障制度的酝酿及实施。中国的保障制度建设却是:先建立国家保障制度,后推行企业补充养老制度,再大力发展商业寿险制度。本文就这一现象,采用历史梳理的方法,从制度经济学角度揭示寿险制度产生的基础,并给出中国寿险制度伴随中国转轨经济内生并进一步发展的经济学解释。同时,本文在制度分析的统一框架下,阐述中国商业寿险要从制度创新上取得成绩和突破。%Review the history of the life insurance in the world,come first,followed by the social security system's deliberation and implementation.But the order of China's security system is: establish the national security system first,then implement the enterprise supplementary pension system,and develop commercial life insurance system in the end.On this phenomenon,this paper revealed the basis of life insurance system in the view of institutional economics,and gives economic interpretation to the situation that China's life insurance system is endogenous with China's economic transition and developing further.At the same time,in the framework of institutional analysis,this paper explained that China's life insurance business should get achievements and breakthrough from the system innovation.

  1. 我国人寿保险公司经营绩效的DEA有效性分析%Efficiency Analysis of DEA on Life Insurance Companies'Performance

    Institute of Scientific and Technical Information of China (English)

    蒋才芳; 陈收

    2014-01-01

    Market performance reflects the efficiency of market operation and the resource al-location results.Through the input-oriented model of the data envelopment analysis (DEA),we analyzed the efficiency of 30 life-insurance companies'performance from 2002 to 2011.The empir-ical results showed that the efficiency of China's invested life insurance companies'performance was proportional to their size,the efficiency of sino-foreign j oint ventures'performance was lower than that of China-invested life insurance,and the efficiency of total life-insurance market's per-formance was positively correlated to national economic development and macroeconomic policy of life-insurance.%市场绩效反映了市场运行的效率和资源配置的效果,运用数据包络分析(DEA)投入导向型模型,考量我国30家人寿保险公司2002~2011年经营绩效的有效性,结果显示,中资寿险公司经营绩效 DEA相对有效性与人寿保险公司规模成一定正相关关系,中外合资或外资寿险公司经营绩效 DEA 有效性低于中资寿险公司经营绩效的有效性,我国寿险市场保险公司经营绩效与国民经济发展以及人寿保险宏观管理政策有较强正相关性。

  2. 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.

  3. 寿险公司的财务风险管理%The Financial Risk Management of Life Insurance Company

    Institute of Scientific and Technical Information of China (English)

    褚小林

    2012-01-01

    在全球经济复苏乏力的背景下,寿险公司面临偿付能力不足、资产负债匹配性差、持续盈利能力不足等一系列财务风险。全面预算作为企业经济活动的一种有效管理工具,与财务风险管理在目标协同、内部管理支持、外部环境融合方面具有紧密的关系。通过建立基于全面预算的财务风险监控指标体系、风险预算分解机制、市场竞争策略、现金流预测手段,防范和化解财务风险,保持寿险公司财务稳定。%In the background of global economic recovery is weak, life insurance companies face a lack of solvency, the matching of assets and liabilities, the lack of sustained profitability and a series of financial risk. The overall budget as effective management tool for enterprise economic activity has a close relationship with financial risk management in target coincidence, internal management support, integration of the external environment. Through the establishment of the monitoring index system based on the comprehensive budget of the financial risk, risk budgeting decomposition mechanism, competition strategy, cash flow forecast means to guard against and defuse financial risk, maintain the financial stability of the insurance companies.

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

    OpenAIRE

    Orio Giarini

    2016-01-01

    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 toda...

  5. Impact of the number of painful stimuli on life satisfaction among Korean industrial accident workers completing convalescence: dual mediating effects of self-esteem and sleeping time.

    Science.gov (United States)

    Choi, Wan-Suk; Kim, Bo-Kyung; Kim, Ki-Do; Moon, Ok-Kon; Yeum, Dong-Moon

    2016-10-08

    This study examined the impact of the number of painful stimuli on life satisfaction among workers who experienced an industrial accident and investigated how self-esteem and sleeping time affected life satisfaction. The Korea Workers' Compensation & Welfare Service conducted the first nationwide panel survey on occupational health and safety insurance in 2013-2014 through a stratified systematic sampling on 2,000 industrial accident workers who completed convalescence. Based on the dataset, our study analyzed 1,832 workers experiencing an industrial accident after excluding 168 disease patients. For the research model analysis, a four-stage hierarchical regression analysis technique was applied using the SPSS regression analysis Macro program of PROCESS Procedure. To test mediated indirect effects of the self-esteem and sleeping time, the bootstrapping technique was applied. Life satisfaction, self-esteem and sleeping time decreased as the number of painful stimuli increased. Life satisfaction decreased as self-esteem and sleeping time decreased. On balance, the partial mediation model confirmed that self-esteem and sleeping time both mediate the impact of the number of painful stimuli on life satisfaction.

  6. 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

  7. Life Cycle Based Environmental Approach in the Industry

    DEFF Research Database (Denmark)

    Jørgensen, Tine Herreborg; Thrane, Mikkel

    2002-01-01

    This paper discusses the need for industries to extend the focus from environmental impacts in their own production, towards considerations of impacts and improvement potentials in the whole product chain....

  8. Life-Cycle-Based Multicriteria Sustainability Evaluation of Industrial Parks: A Case Study in China

    Directory of Open Access Journals (Sweden)

    Jin Yang

    2012-01-01

    Full Text Available Along with increasing concerns on environmental protection and global warming mitigation, new industrial organization modes such as “Ecoindustrial Park” and “Low Carbon Industrial Park” are emerging. Since ecoindustrial parks and low carbon industrial parks may offer multifaceted benefits to the users, it naturally follows that the sustainability assessment of the industrial parks ought to adopt a multicriteria methodology. In this paper, a multicriteria sustainable evaluation framework is proposed in combination with the life cycle analysis and applied to a low carbon and high end industrial park (LCHE in Beijing, China. Results show that the LCHE industrial park can contribute to both energy-saving and greenhouse gas emission mitigations compared with other industrial parks. In terms of economic performance, although the economic profits are considerable, the investment per constructed area is relatively high. The results of sustainable analysis of the LCHE industrial park can thus shed light on future upgrading of industrial parks.

  9. Effect of Brand Personality on Repurchase Intention via Perceived Value and Brand Loyalty (case study: Saman Insurance’s Life Insured

    Directory of Open Access Journals (Sweden)

    hashem aghazadeh

    2014-03-01

    Full Text Available Brand personality has an important role in business success, enhancing perceived value, creating strong relation with costumer, loyalty and repurchase intention. Current research has investigated the effect of brand personality of Saman Insurance Company and its dimensions (based on Jenniffer Aaker’s brand personality model (consist of Sincerity, Excitement, Competence, Sophistication, and Ruggedness on perceived value and brand loyalty (consequences of brand personality and their effects on repurchase intention of 267 people of Saman Insurance’s life insured in Tehran. For confirmatory factor analysis of variables, measurement models are used via LISREL software. Research hypotheses are tested by correlation and linear and multiple regression analysis in SPSS software. With regard to non-normal population, spearman correlation is used that results show significant and positive correlation between variables. Results gained from regression analysis show brand personality of Saman Insurance has a significant effect on perceived value and brand loyalty of life insured and also perceived value and brand loyalty has a significant effect on their repurchase intention. Results show that sincerity, competence, and ruggedness have effect on perceived value and sincerity, excitement, and competence have effect on brand loyalty. Brand competence has the most effect on life insured’s perceived value and brand loyalty.

  10. PERFORMANCES OF INSURANCE MARKET IN MONTENEGRO IN CONDITIONS OF FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    Julija Cerović

    2011-06-01

    Full Text Available Insurance market of Southeast European countries is characterized by significant changes due to uneven economic growth and development. At markets of developed countries, life insurance premium has the leading position in total insurance premium. Due to insufficient economic development of Montenegro, and inadequate awareness and distrust of citizens, compulsory insurances make the biggest part in the total portfolio of the insurance market in Montenegro. The insurance industry was not fully exposed to crisis and drastic changes have not been expected within this type of industry. The global financial crisis did not have a direct negative impact on the insurance market in Montenegro, but rather the indirect one that may be identified through the decline in purchasing power of citizens, decrease in the lending activity of the banks, and through possible recession. Since the financial markets both in Montenegro and in the region are not sufficiently developed, the insurance companies were not able to invest funds in sophisticated securities and financial derivatives, while the Law on Insurance, on the other hand, limited the companies to invest available monetary assets in risky securities, such as stocks. Insurance development trends primarily depend on economic growth, while strict rules and other regulations dominantly affect the improvement and development of insurance market in every country. Therefore, the control of business of insurance companies, licensed brokers and insurance agents, directing insurance companies to invest free funds into non-risky forms of property and adequate promotion of insurance activities can provide reduction in negative impacts of economic events, i.e. affect insurance companies so that they realize the best possible business results in this and later period.

  11. Risky business: how insurance companies gamble with your health coverage.

    Science.gov (United States)

    Denny, J

    1993-01-01

    Under a patchwork of state laws and virtually no federal oversight, a decade of risky investments, questionable business dealings, lavish spending, and help-yourself ethics in the insurance industry is playing a hidden role in the crisis in affordable medical coverage. Skyrocketing medical costs are the main culprit, but financial losses have put pressure on insurers to raise premiums and cancel risky policyholders. The losses also are a major factor in the sharp increase in life/health insurance company failures, which can leave policyholders stranded.

  12. Does Gibrat’s law hold in the insurance industry of china? A test with sequential panel selection method

    Directory of Open Access Journals (Sweden)

    Pan Guochen

    2012-01-01

    Full Text Available This study applies the Sequential Panel Selection Method to investigate whether the growth rate of total insurance premium is independent of their size, as postulated by Robert Gibrat’s (1931 Law of Proportionate Effects. Time-series data for the total insurance premium of 35 insurance companies in China during the December 2005 to May 2011 period are used. Since other panel-based unit root tests are joint tests of a unit root for all members of a panel and are incapable of determining the mix of I(0 and I(1 series in a panel setting, the SPSM, proposed by Georgios Chortareas and George Kapetanios (2009, classifies a whole panel into a group of stationary series and a group of non-stationary series. In doing so, we can clearly identify how many and which series in the panel are stationary processes. The empirical results from the SPSM tests unequivocally indicate that Gibrat’s Law is only valid for one of these 35 companies studied here. Our study has important policy implications for insurance regulation, insurance market construction, and policyholder protection.

  13. [Work capacity evaluation in occupational disability (supplementary) insurance. What should the medical expert know about industrial practice?].

    Science.gov (United States)

    Hochheim, S

    1995-02-01

    Up to now it has often been the responsibility of physicians to assess whether an insured person qualifies for disability benefits, although the insurance conditions in fact state that the problem is not purely a medical one. Indeed, it is advisable to take advantage of the expertise available in the field of Occupational Studies when assessing elibility for benefits. The spectrum of occupations is subject to constant change. The "classification of Occupations" published by the Federal Employment Agency in Nuremberg lists some 25,000 occupational designations. Further, several thousand agreements are concluded each year between employers and employees' representatives at various levels and these may need to be taken into account when assessing claims for disability benefits. Occupational Studies is a specialist area in its own right, requiring specific training and experience. The assessment of disability claims calls for close cooperation and teamwork: doctors, insurers and occupational consultants must each contribute their own particular skills to the decision-making process. In the final analysis, however, it is the insurer alone who must take responsibility for accepting or rejecting the disability claim. The present paper starts by discussing the term "Occupational Studies" and goes on to explain the tasks of the occupational consultant. Finally, reference is made to descriptions of occupations as well as workplace features and requirements which the medical expert should take into account when assessing and insured's ability to work in a given occupation.

  14. The Determinants and Potential Effects of Life Insurer Mortgage Backed Securities Exposure

    OpenAIRE

    Andre P. Liebenberg; Lee Colquitt; Harris Hollans

    2010-01-01

    Our study examines two aspects of life insurers’ exposure to the troubled residential mortgage backed securities (RMBS) market. First, we develop and estimate a model that explains cross-sectional variation in RMBS exposure in terms of firm characteristics. We find that firms least likely to invest in RMBS tend to be small and to have high separate accounts ownership and large investments in common stocks and cash and short-term investments. Among firms that do invest in RMBS, publicly traded...

  15. Enhancing Socially Responsible Innovation in Industry: Practical Use for Considerations of Social and Ethical Aspects in Industrial Life Science & Technology

    NARCIS (Netherlands)

    Flipse, S.M.

    2013-01-01

    The aim of the study presented in this thesis is to explore to what extent corporate researchers in the field of industrial Life Science & Technology (LST) can consider social and ethical aspects of LST innovation to improve their Research and Development (R&D) practices. Innovators, particularly th

  16. 关于农民工工伤保险制度的思考%Pondering over the Industrial Injury Insurance System of Migrant Workers

    Institute of Scientific and Technical Information of China (English)

    王春林; 沈璇

    2012-01-01

    The industrial injury accident of migrant workers is frequently occurred,as the closely related rights,industrial injury insurance currently has some problems in system,such as the lack of supervision mechanism due to government management oversight,the lack of compulsory measures as corporate evades responsibilities,and the lack of awareness of rights due to low cultural quality of migrant workers.By strengthening government supervision,completing the supervision of enterprises and increasing the rights awareness of migrant workers,the industrial injury insurance system of migrant workers can be improved,so as to ensure the legitimate rights and interests of migrant workers.%农民工工伤事故频发,工伤保险作为与其密切相关的权利,其制度目前仍存在政府管理疏漏而缺失监督机制、企业逃避责任而缺乏强制措施以及农民工文化素质不高而缺少维权意识等问题。通过提出加强政府监管力度、完善对企业的监管、提高农民工维权意识等对策来完善农民工工伤保险制度,保障农民工的合法权益。

  17. Analogies Among Current and Future Life Detection Missions and the Pharmaceutical/Biomedical Industries

    Science.gov (United States)

    Wainwright, N. R.; Steele, A.; Monaco, L.; Fries, M.

    2017-02-01

    Life detection goals and technologies are remarkably similar between several types of NASA missions and the pharmaceutical and biotechnology industries. Needs for sensitivity, specificity, speed have driven techniques and equipment to common ends.

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

    Directory of Open Access Journals (Sweden)

    Subiakto Soekarno

    2012-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Subiakto Soekarno

    2012-01-01

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

  20. Industrial open source solutions for product life cycle management

    Directory of Open Access Journals (Sweden)

    Jaime Campos

    2014-12-01

    Full Text Available The authors go through the open source for product life cycle management (PLM and the efforts done from communities such as the open source initiative. The characteristics of the open source solutions are highlighted as well. Next, the authors go through the requirements for PLM. This is an area where more attention has been given as the manufacturers are competing with the quality and life cycle costs of their products. Especially, the need of companies to try to get a strong position in providing services for their products and thus to make themselves less vulnerable to changes in the market has led to high interest in product life cycle simulation. The potential of applying semantic data management to solve these problems discussed in the light of recent developments. In addition, a basic roadmap is presented as to how the above-described problems could be tackled with open software solutions.

  1. 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.

  2. Predictors of health-related quality of life among industrial workers: A descriptive correlational study.

    Science.gov (United States)

    Malak, Malakeh Z

    2017-06-01

    Assessment and evaluation of the health-related quality of life of industrial workers is an important research focus. This descriptive correlational study identifies the predictors of health-related quality of life using a random sampling of industrial workers (n = 640) from construction factories in Amman Governorate in Jordan using demographic characteristics, a health and work-related factors questionnaire, and the World Health Organization Quality of Life-Brief scale. Results showed that industrial workers had good physical health but a poor working environment. There was a statistically significant relationship between educational level, conflict between work and individual life and work and social life, working hours, and workload, and all domains of health-related quality of life. Overall, educational level was the main predictor for all domains of health-related quality of life. Such results confirm the need to develop appropriate interventions and strategies to improve workers' health-related quality of life. Furthermore, developing an integrated approach among policymakers, employers, and work organizations to enhance industrial workers' occupational health programs could be effective. © 2017 John Wiley & Sons Australia, Ltd.

  3. 人寿保险合同解除权行使中的利益平衡%Balance of Interest in Exerting Rescission Right of Life Insurance Contract

    Institute of Scientific and Technical Information of China (English)

    朱晓婷

    2016-01-01

    寿险保单积累的现金价值决定了此类保单的财产属性,成为投保人解除保险合同的根本动因。保险金权利人的保险合同效力维持利益根源于投保人交纳的保费,经过不断的积累和转化,最终以保险金的形式表现出来。当保险合同订立者与合同利益享有者相分离时,寿险合同解除权的行使与合同效力维持利益的冲突得以显现。此时,应对投保人的法定解除权设置必要的限制:区分寿险合同的类型和解除权行使的期间,确定解除权行使的具体方式,明确特殊情形下的解除权主体,在投保人的意思自治和保险金权利人的合法利益之间寻求合理的平衡点,实现人寿保险互助共济的社会目的。%The cash value accumulated in life insurance policy determines the property attributes of such policy, which forms the ultimate cause of removing insurance contracts by applicants.The interests of insurance contracts ma-intenance for the holders of insurance benefits rooted in the insurance premium paid by applicants, and eventually turn up in the form of insurance money, through the continuous accumulation and transformation.When the person who conducts the insurance contract and the person who has the right to share contract interests is separated, the con-fliction between the termination right of insurance contract and the right to maintain the effectiveness will emerge.At this point, the response to this conflict is to set up necessary restrictions for the legal rescission right of applicant, which ranges from distinguishing the type of life insurance contract and the time scope of right exercising, ascertaining the ways of exercising, to making sure the subject in some circumstances.Trough these restrictive measures, the rea-sonable balance between the autonomy of applicants and the legitimate interests of holders of insurance benefits will be found.And on this basis the mutual assistance social

  4. Insurance Incentives for Health Promotion.

    Science.gov (United States)

    Hosokawa, Michael C.

    1984-01-01

    To reduce the cost of reimbursements, many insurance companies have begun to use insurance incentives as a way to motivate individuals to participate in health promotion activities. Traditional health education, research and demonstration, and policy-premium incentives are methods of health promotion used by life and health insurance companies.…

  5. 寿险保险人缴费催告义务的立法研究%Legislative Comparison and Reflection on the Life Insurer's Fee Summon Obligation

    Institute of Scientific and Technical Information of China (English)

    李娟

    2012-01-01

    人寿保险合同中的投保人要承担长期的缴费义务。为解决投保人未能及时缴付保险费的问题,各国保险实务上都创设了宽限期制度与缴费催告制度。但在是否要求保险人承担法定的缴费催告义务问题上,因对保险费性质的理解差异,分属两大法系的国家在立法上产生较大分歧。我国保险立法则游离于两大法系之间,这造成保险实务的困惑,不利于保护投保人的利益,也未能与合同法的规则相契合。因此,在立法上有必要明确这一义务。%Applicants in the life insurance must undertake a long-term payment obligation.In order to solve the problem that the applicant fail to pay premiums,the systems of grace period and payment summon system have been created by insurance practitioners in all countries.Because of the different understanding to the nature of the insurance premiums,differences exist between Common Law and Civil law about whether insurer should bear fee summon obligation.Insurance legislations in China swing between the two legal systems,causing confusion to insurance practice,which is not conducive to the protection of the applicant's interest,and is not consistent with the rules of contract law.Therefore,legislations should admit the obligation.

  6. 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.

  7. D and O insurance for protection against the risk of personal liability in the electric power industry; Absicherung persoenlicher Haftungsrisiken in der Energiewirtschaft durch D and O-Versicherungen

    Energy Technology Data Exchange (ETDEWEB)

    Pisani, Christian [Mueller und Pisani - Rechtsanwaelte, Muenchen-Graefelfing (Germany)

    2010-12-15

    Current legislation makes higher demands on the management in the electric power industry, and there is an increasing risk of personal liability in case of infringement. Personal liability may be incurred already for organisational reasons, e.g. if the management failed to instal effective compliance programmes. Increasingly, companies take out so-called directors-and-officers insurances (D and O insurance) for their management. To avoid gaps in coverage, it is important to have detailed knowledge of the particularities of a D and O insurance.

  8. National Dam Safety Program. General American Life Insurance Co. Lake Dam (MO 31390), Upper Mississippi - Kaskaskia - St. Louis Basin, St. Louis County, Missouri. Phase I Inspection Report.

    Science.gov (United States)

    1980-12-01

    spillway, where a MIM ---- - -- timber footbridge about 4 feet wide and 40 feet long spans the outlet. A site plan of the General American Life Insurance...attractive if the normal waterline were 1 foot higher than originally planned. It appears that the footbridge that crosses the spillway structure was also...herein (curb, footbridge , and drawdown pipe screen) and the fact that the downstream slope of the dam was found to be somewhat steeper than specified

  9. 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.

  10. The geographical concentration of hotels in Switzerland and the industry life cycle

    OpenAIRE

    Sund, Kristian J.

    2006-01-01

    Empirical studies of numerous products and industries have shown that the evolution of variables such as the market price of a product, output and the number of competitors in an industry are non-monotonic and follow a typical pattern over the life span of that industry. The Swiss hotel industry has been experiencing stagnation, even decline, for a period of over 20 years. This can be measured in terms of arrivals, overnight stays and, perhaps most importantly, the number of firms. Thus the n...

  11. Trouble with Your Liability Insurance? Here's Why.

    Science.gov (United States)

    AGB Reports, 1985

    1985-01-01

    The insurance industry is in trouble, which means problems for colleges and universities--especially in the area of liability insurance. Some strategies for higher education are discussed, including risk-management programs, self-insurance, catastrophic or excess insurance, and risk-management consortia. (MLW)

  12. Insurance for wind energy : working with insurers

    Energy Technology Data Exchange (ETDEWEB)

    Beswick, S. [Marsh Canada Ltd., Toronto, ON (Canada). Power and Utilities Practice Group

    2005-07-01

    This presentation described Marsh Canada Ltd.'s role in the Canadian insurance marketplace, the cost of insurance, working with the domestic market and specialty services for the wind power industry. Marsh Canada works with 13 industry groups and recognizes the Canadian marketplace's strong interest in wind energy. Marsh Canada's product specialty input is in machinery breakdown, directors and officers, marine installations, risk consulting, professional liability, surety and construction. In addition to Marsh Canada, there are 8 other Canadian insurers of wind energy. An annual premium costs about $135,000 based on a total of 10 MW capacity and an insured value of $20 million. This premium also allows for business interruption. With expertise in power generation, transportation, and civil, electrical and mechanical engineering, Marsh Canada can offer the wind energy construction industry specialty services such as risk identification, analysis and control; insurance program design; contract review; claims tracking, management, administration and settlement; health and safety consultation; risk financing advice; and, credit enhancement solutions. The specialty services for wind energy property include cable damage; lightning strikes; gearboxes and lubrication; switch gear; substation transformers; earthquakes; icing; fire in transformers; malicious damage; environmental issues; and new technology. tabs., figs.

  13. INTERACTION BETWEEN MODELS OF THE LIFE CYCLE OF INDUSTRIAL ENTERPRISE AND CYCLE OF ITS REORGANIZATION

    Directory of Open Access Journals (Sweden)

    Chulkov Vitaliy Olegovich

    2012-10-01

    Full Text Available The objective of this scientific research is to develop a theoretical model of organizational and technology-related processes of reorganization of industrial enterprises, as well as their interaction. Multipoint logic notions of growth and interaction phases are used as research methods. The author describes the basic stages of reorganization, the life cycle of industrial enterprises and the cycle of their transformation. The processes are presented as an infographical image that represents a concentric model of interaction. This concentric model represents interaction between two or more phases. The process is entitled infografical modeling on the polyfunctional level. The concentric model moves both clockwise and anti-clockwise. Basic organizational and technological processes of reorganization of industrial enterprises that include decision making in terms of expediency of reorganization, design, construction, and performance of industrial enterprises at full capacity, and further operation of the industrial enterprise are described in the paper. Attainment of this objective, namely, reorganization of an industrial enterprise, involves a huge amount of resources, including labour resources that need interaction with all parties of reorganization; therefore, the concentric model of interaction describing the basic cycle of reorganization, the life cycle of an industrial enterprise and the cycle of its conversion is a trustworthy representation of this process. The proposed concentric model of interaction should be used in the design of organizational and technology-related processes for integrated consideration of reorganization of enterprises required to understand and improve the efficiency of reorganizations and to control the reorganization of industrial facilities.

  14. 一个随机利率下的夫妻综合保险模型%Aggregate life insurance model for couples under random interest rates

    Institute of Scientific and Technical Information of China (English)

    柳扬; 洪宇; 王丽燕

    2014-01-01

    For the combined life insurance issue under stochastic interest rate ,this paper establishes an aggregate life insurance model ,which includes increasing insurance for couple’s life ,increasing pension for couple of deferred payment and repaid principal parts etc .With the influence of the actual investment of premiums ,continuous diffusion section of the random interest rate is decided by reflec‐ted Brow nian motion .Considering the influence of the outburst cases on interest rate ,discrete jump‐ing section of the interest rate is decided by Poisson process .It obtains the formulas of annual level premium ,and the concise expressions of the formula are given in the case that death happens uni‐formly in every policy year .Finally ,the accuracy and validity of the model are verified by numerical examples .The semi‐continuous life insurance model has a wide application and is more suitable to the requirement of insurance practice .%针对随机利率下的联合寿险精算问题,建立了一个包括夫妻终身增额寿险,延期支付夫妻增额养老金和储蓄还本部分等综合的联合保险精算模型。考虑到承保人对保费收入的实际投资状况,将利率的连续扩散部分采用了反射布朗运动建模。并在考虑到突发事件会对利率产生的影响,将利率的离散跳跃部分运用了泊松过程建模。给出了均衡净保费的一般表达式和在假设死亡均匀分布条件下均衡纯保费的简洁计算公式。并且通过数值例子说明了模型的正确性与有效性。由于采用半连续式寿险模型计算均衡纯保费,更加符合保险实务的要求,具有较强的实用性与可操作性,有更为广泛的使用范围。

  15. “十二五”期间陕西人身保险市场需求变化研究%Analysis of the Changes in Life Insurance Market Demand of Shaanxi Province During the Twelfth Five-Year

    Institute of Scientific and Technical Information of China (English)

    杨馥; 刘珺

    2012-01-01

    The development of life insurance market in Shaanxi Province will be promoted by the substainable development of Shaanxi's economy and society during the Twelfth Five-Year.The demand of life insurance is key index of the development of lif insurance market.The demand of life insurance market is measured by life insurance premiums in Shaanxi.Based on the data in 1990-2009,this paper provides positive analysis on the demand of life insurance market in Shaanxi by cointegration and logarithm function-model.Following the results,it predicts the trends of life insurance market demands in Shanxi during the Twelfth Five-Year plan,to provide theory basis for life insurance market planning.%"十二五"期间,陕西省经济的持续发展为陕西省人身保险市场的发展提供了有利契机。人身保险需求是度量人身保险市场发展状况的重要指标。文章以陕西省人身保险保费收入作为衡量人身保险市场需求的变量,参考保险密度和保险深度等指标,选取1990—2009年的相关数据,采用协整检验,利用自然对数模型对陕西省人身保险市场需求进行实证分析,并据此对"十二五"期间陕西省人身保险市场需求变化趋势进行预测,旨在为陕西省人身保险业规划提供理论依据。

  16. Environmental Design of Industrial Products (EDIP), anchoring of the life cycle concept in industry and society

    DEFF Research Database (Denmark)

    Alting, Leo; Wenzel, Henrik; Hauschild, Michael Zwicky

    1999-01-01

    The Danish methodology and tools for environmental assessment of products (EDIP) became public available in 1996-97. Following the EDIP-project, projects reflecting methodological developments and simplifications for a broader use have been lanuched, also taking the methodology beyond Danish bord...... borders and into Europe and Asia. Simplification projects comprise development of a manual for SME's and identification of product families. Industrial applications are exemplified by a product development project at the pump manufacturer Grundfos, and by this company's use of the EDIP...

  17. Environmental Design of Industrial Products (EDIP), anchoring of the life cycle concept in industry and society

    DEFF Research Database (Denmark)

    Alting, Leo; Wenzel, Henrik; Hauschild, Michael Zwicky

    1999-01-01

    The Danish methodology and tools for environmental assessment of products (EDIP) became public available in 1996-97. Following the EDIP-project, projects reflecting methodological developments and simplifications for a broader use have been lanuched, also taking the methodology beyond Danish bord...... borders and into Europe and Asia. Simplification projects comprise development of a manual for SME's and identification of product families. Industrial applications are exemplified by a product development project at the pump manufacturer Grundfos, and by this company's use of the EDIP......-methodology in connection with EMAS-registration....

  18. Building Industry Enterprises Logistic System according to their Life-cycle and Organizational Adaptation

    Directory of Open Access Journals (Sweden)

    Natalya Voznenko

    2016-01-01

    Full Text Available This article presents a survey of the Ukrainian machinery-building industry enterprises performance in 2012-2014 due to the state of their logistic systems development and companies’ life-cycle stage. The review of existing theoretical approaches shows the range of possible criteria for evaluation at each level of the industry, enterprise and product. The conducted research evaluates the Ukrainian machinery-building industry and the companies that create that potential. The peculiarities of the organizational adaptation of the above mentioned enterprises and the developed recommendations will help to establish an adaptive management and gain enterprises’ market competitiveness.

  19. [Medical insurance estimation of risks].

    Science.gov (United States)

    Dunér, H

    1975-11-01

    The purpose of insurance medicine is to make a prognostic estimate of medical risk-factors in persons who apply for life, health, or accident insurance. Established risk-groups with a calculated average mortality and morbidity form the basis for premium rates and insurance terms. In most cases the applicant is accepted for insurance after a self-assessment of his health. Only around one per cent of the applications are refused, but there are cases in which the premium is raised, temporarily or permanently. It is often a matter of rough estimate, since the knowlege of the long-term prognosis for many diseases is incomplete. The insurance companies' rules for estimate of risk are revised at intervals of three or four years. The estimate of risk as regards life insurance has been gradually liberalised, while the medical conditions for health insurance have become stricter owing to an increase in the claims rate.

  20. 论人身保险合同中投保人保险利益规则--对我国《保险法》相关规定的重新考察%On the Rule of Insurable Interest of Policyholder in Life Insurance Contract

    Institute of Scientific and Technical Information of China (English)

    李红润

    2016-01-01

    基于投保人当然享有保险金请求权的假定与人身保险合同兼具投资属性的认识论,我国《保险法》的立法者认为,在人身保险合同中投保人存在故意制造或扩大保险事故的道德风险,并据此规定了投保人保险利益规则,要求投保人于订立人身保险合同时应对被保险人的寿命或身体具有保险利益,目的在于控制投保人的道德风险。然而,该规则不仅存在功能定位错误之缺陷,且滋生出了若干问题,一种旨在替代投保人保险利益规则的受益人保险利益规则也远未能解决投保人保险利益规则所面临的困境。%Based on the assumption that the policyholder surely has the right to insurance claims and on the epistemology that life insurance contract has investment properties, the lawmakers of Insurance Law of China argue that the policyholder will have the moral risk of deliberately creating or expanding insurance accident in life insur-ance contract. Accordingly, Insurance Law of China prescribes that the rule of insurable interest requiring policy-holder shall have insurable interest on the life or body of the insured at the time of entering into life insurance con-tract, which aims at controlling moral risk of the policyholder. However, this rule does not only has defects of functional positioning errors, but also causes a number of problems. An alternative rule of insurable interest of beneficiary far fails to resolve the plight that the rule of insurable interest of policyholder faces.

  1. 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 internatio

  2. 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 internatio

  3. 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.

  4. 5 CFR 870.402 - Withholdings for Optional insurance.

    Science.gov (United States)

    2010-01-01

    ... which his/her birthday occurs. (3) When OPM makes any adjustment to the Optional life insurance premiums... REGULATIONS (CONTINUED) FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM Cost of Insurance § 870.402... amount of Optional life insurance deductions from an individual's pay, annuity, or compensation,...

  5. Study on the Performance Evaluation to the Bank Life Insurance Companies Based on Balanced Scorecard%基于平衡计分卡的银行系寿险公司绩效评价研究

    Institute of Scientific and Technical Information of China (English)

    王刚贞

    2015-01-01

    随着金融混业经营趋势不断加强,2009年起中国的银行开始入股保险公司,且以建立寿险公司为主。为了能全面评价银行入股保险公司后的运营绩效,通过构建平衡计分卡模型,从各项评价指标和总绩效角度将银行系寿险公司与传统寿险公司进行比较,发现在三年的时间里,银行系寿险公司发展迅速,且综合绩效较好,相对于传统的中小型寿险公司,具有明显的优势和发展潜力,但与大型的寿险公司相比仍有一定的差距。%As the financial mixed management trend continuously strengthen, banks began to allow a stake in the insurance company in China since 2009, and most of which are life insurance companies.Then, to compare with insurance companies of bank holding on the mixed management mode and insurance companies on the segre-gate management mode, this paper establishes the balanced scorecard model to compare the performance of bank insurance company with the traditional life insurance company, and find that in a short span of three years, bank insurance company has been developing rapidly, and has good comprehensive performance, obvious advantages and development potential, compared with traditional small and medium-sized life insurance company, but it still has certain gap compared with large life insurance companies in our country.

  6. Combinatorial Life Cycle Assessment to Inform Process Design of Industrial Production of Algal Biodiesel

    NARCIS (Netherlands)

    Brentner, L.B.; Eckelman, M.J.; Zimmerman, J.B.

    2011-01-01

    The use of algae as a feedstock for biodiesel production is a rapidly growing industry, in the United States and globally. A life cycle assessment (LCA) is presented that compares various methods, either proposed or under development, for algal biodiesel to inform the most promising pathways for

  7. 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 ...

  8. What I've Learned and Unlearned as a Physical Scientist in the Life Science Industry

    Science.gov (United States)

    Morgenstern, David

    2008-04-01

    I joined Monsanto in 1996 with a Ph.D. in Physical Chemistry and a background in photochemistry and supercritical fluids, just as the company was exiting the chemical business. Since then, I experienced a merger into a pharmaceutical company (Pharmacia) and a spinoff into a purely agricultural company, focused on Biotech and Crop Protection. Change of this kind is typical in industrial research. I have found it to be a continuing challenge to decide when to adapt and when to focus on marketing the expertise that I brought into the company. Viewed as a problem in career tactics in a constantly changing technical, business, and organizational landscape, it might seem overwhelmingly difficult. But, as I will discuss, life in industrial research is constantly offering opportunities to provide new answers to the question, ``what should I do with my life?'' Thus, particularly for those who believe that research should serve society, the satisfactions of an industrial research career are deep and varied.

  9. 一种利率双随机条件下的有序状态寿险精算模型%One Actuarial Models of Orderly Life Insurance under the Condition of Dual Random Interest Rate

    Institute of Scientific and Technical Information of China (English)

    孙荣

    2012-01-01

    有序状态的联合寿险依赖于多个被保险人的死亡顺序,与一般的联合寿险相比具有一定的复杂性.本文研究联合生命保险中有序条件的复合状态寿险精算函数,对利率采用反射Brownian运动和Poisson过程的双随机模型及死亡均匀分布假设下的一种联合投保有序条件的复合状态建模,给出了生命年金、保险金、纯保费精算现值及保险金的二阶矩的表达式.运用这些表达式可以对联合投保有序状态的保险损失风险进行分析.%Joint life insurance of orderly compound status depends on the death order of the insured persons. As compared with the general insurances, it is of more complexity to a certain extent. This paper investigates the actuarial function of joint life insurance of orderly compound status. Both reflected standard Brownian motion and Possion process are used to model the stochastic interest rates and further it is employed to construct the actuarial model. The formulas of joint life insurance of compound status are proposed, including the life annuities, insurance, actuarial present value of net premiums and second moments of insurance. Based on the formulas so proposed, the loss risk of the joint life insurance of orderly compound status can reasonably be analyzed.

  10. Exploring the life cycle management of industrial solid waste in the case of copper slag.

    Science.gov (United States)

    Song, Xiaolong; Yang, Jianxin; Lu, Bin; Li, Bo

    2013-06-01

    Industrial solid waste has potential impacts on soil, water and air quality, as well as human health, during its whole life stages. A framework for the life cycle management of industrial solid waste, which integrates the source reduction process, is presented and applied to copper slag management. Three management scenarios of copper slag are developed: (i) production of cement after electric furnace treatment, (ii) production of cement after flotation, and (iii) source reduction before the recycling process. A life cycle assessment is carried out to estimate the environmental burdens of these three scenarios. Life cycle assessment results showed that the environmental burdens of the three scenarios are 2710.09, 2061.19 and 2145.02 Pt respectively. In consideration of the closed-loop recycling process, the environmental performance of the flotation approach excelled that of the electric furnace approach. Additionally, although flash smelting promotes the source reduction of copper slag compared with bath smelting, it did not reduce the overall environmental burdens resulting from the complete copper slag management process. Moreover, it led to the shifting of environmental burdens from ecosystem quality damage and resources depletion to human health damage. The case study shows that it is necessary to integrate the generation process into the whole life cycle of industrial solid waste, and to make an integrated assessment for quantifying the contribution of source reduction, rather than to simply follow the priority of source reduction and the hierarchy of waste management.

  11. Stochastic Cooperative Games in Insurance and Reinsurance

    NARCIS (Netherlands)

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

    1996-01-01

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

  12. 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

  13. 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

  14. Probabilistic Insurance

    NARCIS (Netherlands)

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

    1997-01-01

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

  15. 商业人身保险涉及的艾滋病相关问题探讨%Analysis of issues of HIV/AIDS related commercial life insurance

    Institute of Scientific and Technical Information of China (English)

    李佳; 陈清峰

    2011-01-01

    Objective To analyze the issues of HIV/AIDS related commercial life insurance and explore the ways to tackle them in perspectives of conflicting views.Methods Literature concerning these issues were reviewed.Resuits Three conflicting views were present in regards to HIV/AIDS related commercial life insurance: 1)Whether differential treatments concerning HIV/AIDS related commercial life insurance constituted discrimination and stigma; 2)Whether provision of HIV/AIDS related insurance would impact on risk management and control of insurance companies; 3) Whether HIV/AIDS related life insurance is part of social responsibilities undertaken by insurance companies.Conclusion Three issues have led to the conflicting views in regards to HIV/AIDS related commercial life insurance: 1)Perceptions on features of commercial insurance could influence understanding of HIV/AIDS discrimination and stigma in commercial life insurance; 2)Insurance companies are faced with pricing and "non-moral"judgment of HIV/AIDS related risk; 3) There is different understanding of relation between HIV/AIDS related life insurance and social responsibilities of insurance companies.Hence, it is suggested that HIV/AIDS related risk,and scientific definition of differential treatments and HIV/AIDS discrimination in commercial life insurance be objectively assessed, regulations on exclusion clauses of commercial life insurance concerning HIV/AIDS be enhanced,and participation by insurance companies in the fight against HIV/AIDS be promoted.%目的 从艾滋病相关商业人身保险服务现状及针对这些现状的不同观点人手,理清艾滋病相关商业人身保险服务所面临的问题,探讨解决商业人身保险涉及的艾滋病相关问题.方法 采取文献研究方法.结果 对艾滋病相关商业人身保险服务主要有三个对立观点:商业人身保险服务中,艾滋病相关的区别对待是否构成歧视;将艾滋病纳入商业人身保险责任范围,是否对

  16. Aviation Technology Life Cycle Management: Importance for Aviation Companies, Aerospace Industry Organizations and Relevant Stakeholders

    Directory of Open Access Journals (Sweden)

    Stanislav Szabo

    2017-04-01

    Full Text Available The paper in the introductory part underlines some aspects concerning the importance of Aviation Technology Life Cycle Management and informs on basic international standards for the processes and stages of life cycle. The second part is focused on definition and main objectives of system life cycle management. The authors subsequently inform on system life cycle stages (in general and system life cycle processes according to ISO/IEC/IEEE 15288:2015 standard. Following the fact, that life cycle cost (LCC is inseparable part and has direct connection to the life cycle management, the paper contains brief information regarding to LCC (cost categories, cost breakdown structure, cost estimation a.o.. Recently was issued the first part of Aviation Technology Life Cycle Management monograph (in Slovak: ”Manažment životného cyklu leteckej techniky I”, written by I.Koblen and S.Szabo. Following this fact and direct relation to the topic of article it is a part of article briefly introduced the content of two parts of this monograph (the 2nd part of monograph it has been prepared for the print. The last part of article is focused on issue concerning main assumptions and conditions for successful application of aviation technology life cycle management in aviation companies, aerospace industry organizations as well as from the relevant stakeholders side.

  17. REPORTING OF COMMERCIAL INSURANCE COMPANIES: EVIDENCE FROM THE CZECH REPUBLIC

    OpenAIRE

    Jiřina Bošková

    2007-01-01

    The subject of insurance companies is to provide insurance protection based on commercial principles. All changes in the society are directly reflected in the insurance activity. New risks apperar and therfore new insurance products appear as well. The insurance business intervenes into all areas of the economic and social life in the Czech Republic. Insurance companies cannot be treated only as companies offering insurance protection, but also as important investors who, as a result of their...

  18. 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.

  19. Joint-venture Insurance Firm Born

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    @@ Generali China Life insurance Company Ltd.began operations in February this year in Guangzhou,capital of South China's Guangdong Province - the first joint-venture insurer since China joined the World Trade Organization.

  20. 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

  1. Investigating positive leadership, psychological empowerment, work engagement and satisfaction with life in a chemical industry

    Directory of Open Access Journals (Sweden)

    Tersia Nel

    2015-02-01

    Full Text Available Orientation: The predominant theme of this research attends to the role of perceived positive leadership behaviour in relation to employee outcomes (psychological empowerment, work engagement, and satisfaction with life.Research purpose: The objective of this study was to investigate whether perceived positive leadership behaviour could predict psychological empowerment, work engagement, and satisfaction with life of employees in a chemical organisation in South Africa and whether positive leadership behaviour has an indirect effect on employees work engagement and satisfaction with life by means of psychological empowerment. Motivation for the study: The motivation for this study arose from the evident gap in academic literature as well as in terms of practical implications for the chemical industry regarding positive leadership behaviour, psychological empowerment, work engagement and satisfaction with life of employees. Research design, approach and method: A cross-sectional survey design was used with a convenience sample (n = 322. Structural equation modelling (SEM was used to examine the structural relationships between the constructs. Main findings: Statistically significant relationships were found between positive leadership behaviour, psychological empowerment, work engagement and satisfaction with life of employees. Positive leadership has an indirect effect on work engagement and satisfaction with life via psychological empowerment.Practical/managerial implications: This study adds to the lack of literature in terms of positive leadership, psychological empowerment, work engagement and satisfaction with life within a chemical industry. It can also assist managers and personnel within the chemical industry to understand and perhaps further investigate relationships that exist between the above mentioned concepts.Contribution/value-add: It is recommended that leadership discussions, short training programs and individual coaching about

  2. 5 CFR 870.502 - Basic insurance: Waiver/cancellation of insurance.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Basic insurance: Waiver/cancellation of insurance. 870.502 Section 870.502 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM Coverage § 870.502 Basic insurance: Waiver/cancellation of...

  3. 5 CFR 870.505 - Optional insurance: Waiver/cancellation of insurance.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Optional insurance: Waiver/cancellation of insurance. 870.505 Section 870.505 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM Coverage § 870.505 Optional insurance: Waiver/cancellation...

  4. 中国寿险产品供给及其影响因素分析%Analysis on Affecting Factors of China's Life Insurance Product Supply T~ 1 2

    Institute of Scientific and Technical Information of China (English)

    周华林; 郭金龙

    2012-01-01

    本文以人寿保险产品的保费收入为切入点,分析了各保险公司保费收入的变化趋势和特点,从企业微观和宏观因素方面分析了各因素对不同寿险产品保费收入的影响。寿险公司本科员工比例对个人普通寿险产品保费收入有较大影响,大专及以下员工占比对个人分红寿险产品保费收入有较大影响,公司严格控制资产负债风险可以显著提高各种寿险产品的保费收入。金融发展水平对个人分红型寿险有较大的影响,社会保障水平提高对保费收入有明显的带动作用,当人们对通货膨胀持悲观预期时,有利于提升寿险个人业务保费收入。%Based on premium income of different life insurance products, this paper analyzed trends and features of premium incomes of different insurance companies, and analyzed effects of micro and macro factors on premium in comes of life insurance products. The proportion of undergraduate employees had quite large effects on premium in comes of individual ordinary life insurance products of an insurance company, while the proportion of employees with junior college or lower education had relatively large effects on sales of individual participation life insurance prod ucts. Strictly controlling asset liability risks would increase premium income of all types of life insurance products. Financial development level had more effect on individual participation life insurance products. Improving social se curity level increased the sales of individual life insurance products significantly. The market's pessimism about in flation could also increase the premium income of individual insurance products

  5. Evaluation of the Effectiveness of the Incentive Mechanism of the Fuzzy Comprehensive Evaluation Method Based on the Insurance Agent--China Life Insurance Company Shihezi Branch as an Example%基于模糊综合评价法的保险代理人激励机制有效性评价--以中国人寿石河子分公司为例

    Institute of Scientific and Technical Information of China (English)

    靳芹芹

    2013-01-01

    The market economy gradually opening makes our country’s insurance industry is also faced with the embarrassing situation of brain drain, the reason, is mainly the current incentive mechanism still exist many problems, resulting in the overall economic and social benefits with the agent’s personal interests conflict, based on this, this paper takes Shihezi life insurance company as an example, validity of the incentive mechanism of the agent was described and analyzed quantitatively by using the fuzzy comprehensive evaluation method, which provides the basis to improve the relevant system, but also to the industry to reference.%  市场经济的逐渐开放使得我国保险行业也面临着人才流失的尴尬境遇,究其根本原因,主要是现行的代理人激励机制还存在很多的不足,基于此,本文以石河子人寿保险公司为例,采用模糊综合评价法对其现行的代理人激励机制有效性进行了定量的分析和描述,从而对其相关制度的完善提供依据,同时也给同业以参考和借鉴。

  6. Captive insurance companies.

    Science.gov (United States)

    Strauss, Peter

    2014-01-01

    The landscape of the business world is changing; and now, more than ever, business owners are recognizing that life is filled with risks: known risk, calculated risk, and unexpected risk. Every day, businesses thrive or fail based on understanding the risk of owning and operating their business, and business owners are recognizing that there are alternative risk financing mechanisms other than simply taking out a basket of standard coverage as recommended by your friendly neighborhood agent. A captive insurance company is an insurance company established to provide a broad range of risk management capabilities to affiliated companies. The captive is owned by the business owner and can provide insurance to the business for potential future losses, whether or not the losses are already covered by a commercial carrier or are "self-insured." The premiums paid by your business are tax deductible. Meanwhile, the premiums that your captive collects are tax-free up to $1.2 million annually.

  7. IMPROVING QUALITY OF WORK LIFE THROUGH ELECTROPHYSIOLOGY: AN IDEA ACCEPTED BY INDUSTRY

    Directory of Open Access Journals (Sweden)

    Evanthia Giagloglou

    2015-12-01

    Full Text Available Quality of Work Life (QWL and Occupational Health and Safety (OHS are two interconnected and important human needs. Modern industry shows a clear will for improving QWL and OHS, nevertheless, existent automatization and technological advances may negatively influence employees' wellbeing and result as triggers to their health deterioration. Subjective measures of employees workload can help, however, the lack of objectivity may be an issue. Improvement of working life needs objective measures. There is technology for measuring objectively employees' psychophysiology, but is considered to interfere with the flexibility needed for performing working tasks. Today electrophysiological methods require minimal dimensions, are wireless connected, allow movement and are proved to be useful in capturing psychophysical wellbeing. This study shows that the industry is ready to accept electrophysiological measures for monitoring and improving the employees' wellbeing.

  8. 76 FR 56505 - Agency Information Collection (Application by Insured Terminally Ill Person for Accelerated...

    Science.gov (United States)

    2011-09-13

    ... life expectancy of the insured person and a statement by the insured on the amount of accelerated... a portion of the face value of his or her Servicemembers' Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI) prior to death. If the insured would like to receive a portion of the...

  9. 38 CFR 8.3 - Revival of insurance.

    Science.gov (United States)

    2010-07-01

    ... life insurance which are equal to or greater in amount than the total of the monthly premiums which... income provision lapsed at the same time as the life insurance, the premium for the provision will be... INSURANCE Premiums § 8.3 Revival of insurance. (a) If the sole reason death or total disability...

  10. Study on the Economic Efficiency of China's Life Insurance Companies by DEA%DEA 对我国寿险公司的经济效率研究

    Institute of Scientific and Technical Information of China (English)

    栾秀云; 李苗苗

    2013-01-01

      本文采用数据包络分析方法(DEA)对13家寿险公司的经济效率进行对比分析,在数据结果分析的基础上,提出改善寿险公司经营效率的主要措施,促进寿险企业经济发展。%This paper made comparative analysis of economic efficiency of 13 life insurance companies by DEA, based on results of data analysis, made the key measure in improving the operating efficiency of life insurance companies to promote economic development in life insurance companies.

  11. 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)....

  12. 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...

  13. Life cycle assessment of water reuse systems in an industrial park.

    Science.gov (United States)

    Tong, Le; Liu, Xin; Liu, Xuewei; Yuan, Zengwei; Zhang, Qiong

    2013-11-15

    The rapid development of industrial parks in China has resulted in large resource consumption and pollutant emissions, especially freshwater use and wastewater discharge. Water reuse has attracted much attention from governments because of its potential to conserve freshwater and reduce pollutant emissions. However, water reuse usually means adding advanced treatment which consumes chemicals, materials and energy. Is the water reuse beneficial for the environment from a life cycle perspective? To answer this question, we quantified the environmental impacts of reusing treated wastewater at industrial parks under different scenarios through a comparative life-cycle assessment (LCA). Four scenarios are assessed: wastewater is treated and discharged, 20% and 99% of wastewater is treated and reused as industrial process water, and treated wastewater is used for horticulture. Inventory data were mainly obtained from a facility which manages the wastewater treatment and reuse system of an industrial park in Jiangsu Province. Environmental impacts were evaluated using the CML2001 method built into the GaBi version 4.3 database. The results show the water reuse is beneficial and the reuse rate significantly affects environmental performance of the system. It is also found that using the reclaimed water for higher value applications results in larger environmental credit. Decision makers in water management should consider both water quantity and quality and associated environmental impacts for different water reuse applications.

  14. 建筑施工企业农民工工伤保险立法浅议%Discussion on Insurance Legislation of Migrant Worker’ Industrial Injury of Construction Enterprises

    Institute of Scientific and Technical Information of China (English)

    刁红

    2014-01-01

    Industrial injury insurance of migrant workers of construction enterprises has aroused widespread concern of all circles in society .To establish a proper industrial injury insurance system for migrant workers of construction enterprises is necessary to protect the health of migrant workers and maintain social stability .At present,there are some problems in safeguarding rights of industrial injury of migrant workers of construction enterprises in China ,so we need to establish the industrial injury insurance suitable for the characteristics of the migrant workers of con -struction enterprises .%建筑行业农民工的工伤保险问题,已经引起社会各界的广泛关注。建立适合建筑行业农民工的工伤保险制度是保护农民工健康和维护社会稳定的必要条件。目前我国建筑行业农民工工伤维权存在一些问题,因此,需要建立符合我国建筑行业农民工自身特点的工伤保险。

  15. Pricing General Insurance in a Competitive Market

    OpenAIRE

    Burcã Ana-Maria; Bãtrînca Ghiorghe

    2012-01-01

    In insurance industry, the lack of a proper pricing policy will generate suboptimal results. The price has to be competitive and actuarially adequate in order to reflect the dimension of risk. In a competitive market, the pricing policy of insurance companies acquires the capacities of a dynamic process. In this pricing war, the insurance company must analyze each component of pricing. Insurance companies use various statistical methods to set prices, taking in consideration the interaction b...

  16. 2007 Saw Fresh Air for Insurance

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ What happened to China's insurance sector this year?Above all, this year was the first in the new Five-Year Plan for the Standardization of China's Insurance (2007-2011). The Five-Year Plan,released back in February, sets the first standards for the insurance industry in China; meanwhile, it also lays out a blueprint for future development. Additionally, the insurance sector is focused on meeting international standards and levels of service in 2015.

  17. 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

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

    Science.gov (United States)

    Hung, Hung-Chih; Hung, Jia-Yi

    2016-04-01

    equivalent,' and 'gamble tradeoff' methods were used. We then synthesized a Tobit and an OLS regression analysis to identify and examine the determinants of insurers' decisions on insurability and pricing for flood risk. Furthermore, the data were collected through a questionnaire survey, which was conducted with the assistance from the Non-life Underwriters Society, Taiwan and the Actuarial Institute, Taiwan. After pretesting, questionnaires were mailed to 410 randomly chosen commercial property-and-casualty insurance firms' actuaries and underwriters. The final sample consisted of 179 questionnaires for a 43.8% response rate. 3. Results Results of the questionnaire survey reveal that flood risk tends to be more uninsurable when there is ambiguity regarding the probability of a particular flood event loss. The presence of insurers' risk aversion appears to be robust. Insurers would charge a significantly higher price for a flood insurance policy than normal property insurance. The findings also show that the insurers who perceived higher levels of flood risk, or/and had a company with smaller size or higher financial leverage, would trigger a higher premium for flood insurance. Governmental risk management strategies, such as land-use planning, building codes, flood-hazard zone regulations, also played a prominent role in enhancing insurability and decreasing insurance premium. Therefore, appropriate incentives should be combined with better public risk communication and mitigation strategies to stimulate insurance coverage in reducing flood loss.

  19. 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...

  20. Creating Value with Long Term R&D: The life science industry

    Science.gov (United States)

    Soloman, Darlene J. S.

    2008-03-01

    Agilent Laboratories looks to the future to identify, invest and enable technologies and applications that will nurture the world’s people, environment and economies, and help ensure Agilent’s continuing leadership. Following a brief introduction to Agilent Technologies and Agilent Laboratories, Solomon will discuss how innovation and long-term R&D are transcending traditional boundaries. Focusing on the life sciences industry, she will discuss current trends in R&D and the importance of measurement in advancing the industry. She will describe some of the challenges that are disrupting the pharmaceutical industry where significant and sustained investment in R&D has not translated into large numbers of block-buster therapeutics. Much of this gap results from the profound complexity of biological systems. New discoveries quickly generate new questions, which in turn drive more research and necessitate new business models. Solomon will highlight examples of Agilent’s long-range R&D in life sciences, emphasizing the importance of physics. She’ll conclude with the importance of creating sustainable value with R&D.