Journal articles on the topic 'Insurance'
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1
Nam, Bach Thi Nha. "Suggestions to modify Vietnam’s legal provisions on the insurable interest in life insurance." Science & Technology Development Journal - Economics - Law and Management 2, no. 3 (January 20, 2019): 38–49. http://dx.doi.org/10.32508/stdjelm.v2i3.518.
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The insurable interest in life insurance is a core principle for the parties to enter into an insurance contract. In case the policyholder does not have insurable interest to the insured, the life insurance contract will become invalid or the life insurance contract will terminate when the policyholder no longer has insurable interest in accordance with Vietnam Insurance Business Law. The practice of life insurance contract performance has raised many issues related to the insurable interest that Vietnam Insurance Business Law has not mentioned or are still lacking. Therefore, the legal provisions on insurable interest are covered with many shortcomings, and inconsistent with the practice of insurance business. On the basis of analysis of caselaw and insurance statutes in US jurisdiction, the author proposes to modify the legal provisions on the insurable interest stipulated in the Vietnam Insurance Business Law..
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Dudziński, Piotr. "Insurance and Self-Insurance – Substitutes or Complements?" Przegląd Statystyczny. Statistical Review 2014, no. 3 (September 30, 2014): 307–16. http://dx.doi.org/10.59139/ps.2014.03.5.
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Classical result by Ehrlich and Becker states that with two states of the world, market insurance and self-insurance are substitutes. However, it turns out that conclusion does not hold in the model with many states. This paper considers interactions between price of compulsory market insurance and demand for self-insurance. We present sufficient conditions for self-insurance to be complementary or substitute for market insurance. We provide economic interpretation of that result, highlighting the role of an efficiency of self-insurace as a key to understanding the phenomenon.
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Habibaty, Diana Mutia, and Ah Azharuddin Lathif. "INSURANCE WAQF PHENOMENCES IN THE INSURABLE INTEREST PERSPECTIVE." Penamas 33, no. 2 (December 31, 2020): 225. http://dx.doi.org/10.31330/penamas.v33i2.409.
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Waqf insurance is a new breakthrough in the field of waqf and sharia insurance. This product collaborates between waqf and insurance products. The insurance waqf product is considered contrary to one of the insurance principles, namely the principle of insurable interest (Insurable Interest Principle). This principle states that the insured party (the insured / insurance participant) must have an interest in the object of insurance (life / object). This principle was born because everyone insures himself / his property because the person / property has the risk of being damaged / lost, whereas if someone chooses to have waqf or not, it does not actually pose any risk. This study uses an empirical approach in which an analysis of the Islamic waqf insurance contract is carried out and compares it with the basic principles of insurance. In addition, interviews were conducted with experts to deepen the study under study. The results of the study state that waqf insurance products in Sharia insurance can be used as part of insurance products by following the provisions of the DSN-MUI fatwa NO.106 / DSN-MUI / X / 2016 concerning Waqf Insurance Benefits and Investment Benefits in Sharia Insurance. By referring to this fatwa, the waqf insurance product has fulfilled the principle of insurable interest by stating that the maximum waqf that can be made on the insurance waqf product is 45%, while the other 55% is returned to the insurance participant or the beneficiary (if the insurance participant dies before the insurance contract is completed. ) as a form of risk mitigation and implementing the principle of insurable interest.
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Khabarov, V. I., M. S. Kolbina, and I. Yu Kushelev. "Innovative activity of insurance organizations: Course of development." Economics and Management 29, no. 2 (March 7, 2023): 188–99. http://dx.doi.org/10.35854/1998-1627-2023-2-188-199.
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Aim. The presented study aims to develop a model for the innovative development of insurance in Russia based on an in-depth analysis of scientific papers, a survey of insurers, and the market situation.Tasks. The authors examine innovative development models in the insurance sector; identify problems affecting the introduction of innovations in the insurance business; analyze channels through which insurers purchase insurance products; test the hypothesis about insurers giving preference to digital channels when choosing insurance depending on age and gender; identify the most popular types of insurance products among insurants; highlight promising innovative approaches in Russian insurance.Methods. This study uses general and private scientific methods, a formal logical approach, and survey of insurers.Results. A model for the innovative development of insurance in Russia is developed based on an in-depth analysis of scientific papers, a survey of insurers, and the market situation. Testing of the hypothesis about the dependence of the choice of insurance channels on age (generation) for different types of insurance indicates that such a dependence exists only for car insurance. The hypothesis about the joint influence of gender and generation on the choice of channels for purchasing insurance policies is not confirmed. According to the survey, the most popular types of policies include car insurance and travel insurance. Conventional insurance remains more popular among respondents than digital insurance.Conclusions. A problem of interaction and communication between the insurer and the insurant is revealed. Digital insurance is not sufficiently developed among Russian insurers. The developed client-oriented model will make it possible to establish long-term relationships between companies and customers. Convenient, functional digital tools will create the prerequisites for the sustainable growth of companies, allowing them to gain important competitive advantages in the market.
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Osipenko, Maria, Zhiwei Shen, and Martin Odening. "Is there a demand for multi-year crop insurance?" Agricultural Finance Review 75, no. 1 (May 5, 2015): 92–102. http://dx.doi.org/10.1108/afr-12-2014-0043.
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Purpose – The purpose of this paper is to examine the aggregate demand for single- and multi-year crop insurance contracts and to discuss market potential for multi-year crop insurances. Design/methodology/approach – In this paper the authors develop a dynamic discrete choice model of insurance alternatives, in which single- and multi-year insurance contracts are offered to heterogeneous risk averse farmers. The farmers determine their insurances choices based on inter-temporal utilities. Findings – The results show that in a competitive insurance market with heterogeneous risk averse farmers, there is simultaneous demand for both insurance contracts. Moreover, the introduction of multi-year contracts enhances the market penetration of insurance products. Research limitations/implications – The effect of introducing multi-year crop insurance is moderate when applying the model to US corn production. In practice, however, the increase of insurance demand could be more pronounced because we did not consider marketing and administrative costs and thus ignore this cost reduction potential of multi-year insurance. Originality/value – This study adds to the literature analyzing the feasibility of multi-year crop insurance and also shows that there is market potential for multi-year crop insurance.
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Jeong, Byungseok. "Joint Tortfeasor's Right of Contribution in Overlapping Liability Insurance: A Critical Review of Supreme Court Decision of 2009. 12. 24., 2009Da42819." Institute for Legal Studies Chonnam National University 43, no. 3 (August 31, 2023): 243–78. http://dx.doi.org/10.38133/cnulawreview.2023.43.3.243.
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As indicated in the ruling at issue, the contribution right arising from the underlying torts and the right of contribution arising out of overlapping insurance coverage coexist and can be exercised simultaneously, in competition, or successively. However, once one contribution right is satisfied, the other is proportionately diminished. The decision at issue, clarifying these legal principles and providing a specific method for calculating the amount of subrogation claims, is significant as a case of first impression on these issues.
This paper’s main arguments can be summarized as follows: 1. In liability insurance, it is crucial to consider concepts such as the insurable interests, the sum insured, and the amount of insurance coverage. Especially when unlimited liability insurance is one of the overlapping insurances, or when both are unlimited in liability, determining the amount to be paid respectively by the insurers, which serves as the basis for apportioning compensation liability among insurers, becomes unfeasible.
2. It is questionable whether the direct contribution rights among insurers are acquired from the subrogation of the right of insured or from the direct claim rights of the victim. The author maintains that this contribution right among the insurers arises from the internal relations among multiple obligors liable to the victim. This right therefore is sui generis.
3. The exercise of contribution rights among insurers involves separating the portion of liability attributable to the fault of the other party, and claiming the share of the overlapping insurance portion remaining after the first contribution. However, the result of the calculation remains the same, whether the proportion of overlapping insurance is applied first to the entire compensation liability or not.
4. The right of contribution concerning the torts and the right concerning overlapping insurances are independent and separate causes of action, however, they should be treated and managed in litigation process without any contradiction.
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Glintić, Mirjana. "Main characteristics of credit life insurance." Pravo i privreda 58, no. 3 (2020): 237–53. http://dx.doi.org/10.5937/pip2003237g.
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In recent years, banks in Serbia, as authorized insurance agents, have started offering various types of insurance contracts that serve as a means of securing credit. Since the potential credit user is a consumer who does not have sufficient legal knowledge of insurance contracts, this paper aims to point out the main characteristics of these insurances and to highlight the differences between them. Despite all the information that insurance agents are required to disclose to their clients, there are always certain dilemmas regarding these insurance policies, particularly with respect to the issues of insurance coverage, insurance voluntariness and its cost-effectiveness. During the last two years, several judgments have been made regarding credit insurance and the powers of banks in connection with this contract, so it was necessary to consider what consequences this could have on the way of concluding the contract and calculating premiums for some other insurances intended for securing loans, although differently conceived.
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Bilous, Nina. "CHARACTERISTIC FEATURES OF THE CORPORATE STRATEGIES OF THE FOREIGN CAPITAL COMPANIES ON THE LIFE INSURANCE MARKET IN UKRAINE." International Journal of New Economics and Social Sciences 6, no. 2 (December 22, 2017): 28–36. http://dx.doi.org/10.5604/01.3001.0010.7620.
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In the article the presence of international insurance companies on Ukraine’s insurance market has been, in particular, in the area of life insurances. Influence of activity of international companies on participants of insurance market of Ukraine is analysed. The directions of development of insurance companies activity are defined.
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K, Udaya Shetty. "Attitudes of Rural Customers about the Need for Life Insurance Protection – A Study in Udupi District." Shanlax International Journal of Arts, Science and Humanities 8, S1-Feb (February 6, 2021): 202–11. http://dx.doi.org/10.34293/sijash.v8is1-feb.3953.
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Insurance, in its many forms, touches the life of virtually every person in this country. Any society could not function effectively, efficiently or safely as it does were insurance-free. If there was no insurance, there would be so much uncertainty and exposure to loss that no business would be able to function and exist. Business would have an extremely difficult time obtaining any type of financing because few lenders would risk their capital without having a guarantee of safety for their investments. Insurance’s value to society is enormous and irreplaceable. Insurance protects hard-earned, accumulated assets while minimizing financial risk. Insurance does this by reimbursing people and business for covered losses, encouraging accident prevention and safety-oriented practices, providing funds for investment, enabling people to borrow money, and reducing anxiety. Even though insurance does do all these things, many people do not fully understand how insurance works or the value and security it brings to them.A strong insurance sector is of vital importance to every modern economy. It encourages the savings habit, provides safety to rural and urban enterprise and productive individuals. It generates long term investible funds for infrastructure building.India as a country is under–insured in the urban as well as the rural areas. Only 35 percent of the 250 million insurable population is insured .There exists a vast potential in the rural areas where more than 70% of our population lives. But it is common perception and belief amongst the insurance companies that it is expensive to do business in rural areas. The present Study on attitudes of rural customers throws lights on all vital issues of rural insurance, and covers opinion of insurance customers, insurance agents and business development executives selling life insurance policies. The study attempts to understand level of awareness of rural customers in order to suggest strategies for tapping untapped market. The study aimed at a thorough investigation into various issues which are the challenges in promnotion of life insurance business in rural areas.
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Orlicki, Marcin. "Optimization of Insurance Coverage Time (Just on Time Insurance) – Legal Aspects of the Use of Information Technology in Insurance." Prawo Asekuracyjne 3, no. 104 (September 18, 2020): 3–14. http://dx.doi.org/10.5604/01.3001.0014.3701.
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Modern information technologies enable easy communication of information on activities performed by the policyholder/insured person and on the occurrence of certain events related to the subject of insurance or the risk parameters. It facilitates the creation of insurance products in which the duration of insurance cover is shaped dynamically based on the customer’s declaration of intent or by reading parameters using the IT equipment. Such formation of the insurance coverage period is permitted under Polish law (with the exception of some compulsory insurances) – without affecting rights and interests of customers receiving insurance services,
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Kawata, Yukichika, and Syed Ahmed Salman. "Muslims and Non-Muslims’ Satisfaction of the Islamic Insurance in Malaysia: Application of the Extended Customer Satisfaction Analysis." Turkish Journal of Islamic Economics 9, no. 1 (February 15, 2022): 119–35. http://dx.doi.org/10.26414/a189.
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Islamic insurance has a more value-added substance than conventional insurance, and it is the ultimate solution for anyone seeking financial protection for their potential misfortune. However, the penetration ratio has been low even in Muslim majority countries, including Malaysia. While some existing studies examined the factors that contribute to improving the penetration rate, almost no studies examined satisfaction as the primary target. This study conducted a questionnaire for both Muslims and non-Muslims in Malaysia to investigate the factors that determine the satisfaction of the conventional and Islamic insurances. The Snowball sampling method was used, and 396 responses were obtained from Muslim and non-Muslim insurance policyholders in Selangor and Kuala Lumpur. The extended version of the Customer Satisfaction (CS) analysis was developed and applied to the Malaysian insurance policyholders’ data. There are three main results in this study. First, the factors that determine both Muslims’ and non-Muslims’ satisfaction with insurance were different. Second, while non-Muslims in Malaysia were satisfied with both the conventional and Islamic insurances, Muslims were more confident with the Islamic insurance than conventional ones. Furthermore, the current Islamic insurance would be accepted with higher satisfaction by non-Muslims than Muslims. Third, the extended CS analysis successfully detected factors that determined satisfaction for both the conventional and Islamic insurances, suggesting the extended CS analysis was effective.
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Pitterle*, Claudia. "How do Doctors Evaluate Insurance for Their Surgery and What Decisions Are Made for or Against Taking out Insurance?" International Journal of Management and Humanities 5, no. 7 (March 30, 2021): 9–15. http://dx.doi.org/10.35940/ijmh.g1249.035721.
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A practising doctor in his own surgery has a professional responsibility to earn a regular income for the maintenance of his existence and his employees. Professional risks arise from his activity, which the doctor should regulate with appropriate insurances and powers of attorney. Which of these insurances do doctors have and how important do doctors feel it is to take out such insurances? Are updates made to the insurance policies and what criteria do doctors use to decide for or against insurance? In order to answer this questions, in-depth interviews, mostly face-to-face, were conducted with five doctors of different specialities, professional experience in their own surgery. It was found that doctors contracted insurances that were obligatory, the professional liability and known from their private environment, the legal expenses insurance. Likewise, some insurances were considered unnecessary (i.e. cyber risk) and insurances that sound very similar were confused (i.e. business interruption). The decision-making behaviour for and against insurance was also very different and no clear trend emerged. Due to the rather small sample, further interviews and surveys are necessary to show whether the result is consolidated. It is also advisable to delve deeper into the decision-making behaviour of doctors.
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Kwon, Tae Yeon. "Causality Change in Life Insurance Demand: Focusing on Financial Market and Insurance Provider Factors." Korean Data Analysis Society 25, no. 1 (February 28, 2023): 173–84. http://dx.doi.org/10.37727/jkdas.2022.25.1.173.
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This paper examined the Granger causality and changes in its intensity for Korea life insurance demand, focusing on the financial market and insurance provider factors. The significant causality ratio (SCR) in Kwon (2018), which can measure the intensity as well as the change in the significance of Granger causality, was applied. The intensity of the Granger causality of the three-year treasury bond rate, three-year AA corporate bond rate, KOSPI200 index, and number of planners was examined for each life insurance demand from January 1997 to May 2022. The change in the intensity of Granger causality for life insuance demand were visualized through the time plot of SCR by demand factor and life insurance type which are endowment, pure-endowment insurances and insurance against death, respectively. As a result, it was confirmed that the existence and intensity of Granger causality of each demand factor for each insurance type changed, and the pattern of change varies by factor and life insurance type. The factor with higher Granger causality than other periods in the global financial crisis is the interest rate and the Granger causality of the number of planners showed the opposite pattern. The Granger causality of the stock index for insurance against death was lower than that of other insurances.
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Bakalo, Nadiya, Iryna Krekoten, and Viktoriia Makhovka. "INSURANCE IN TOURISM." Economies' Horizons, no. 1(23) (April 3, 2023): 59–69. http://dx.doi.org/10.31499/2616-5236.1(23).2023.273358.
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The article is devoted to the definition of insurance in tourism, which will ensure that the tourist solves all problems and receives qualified medical, legal or administrative assistance. It was determined what insurance is, travel insurance, insurance in tourism. It has been proven that insurance in the tourism industry is used to insure against the risk of financial losses, both large and small, that may arise from damage to the insured or his property, or from liability for damage caused to a third party. The main categories of travel insurance have been revealed, namely: insurance against trip cancellation or interruption, insurance for luggage and personal belongings, medical insurance, accident insurance, in-flight accident insurance. The main sections of the travel insurance policy were also mentioned. During the pandemic, it has become more difficult to travel, so you need to understand the requirements of different countries, as well as protect yourself from risks due to the disease. Additional insurances against no-show and additional financial risks help protect tourists from illness if they have a travel permit. It was concluded that travel insurance provides some security and confidence for tourists to travel with peace of mind. Insurance is designed to cover financial risks.
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Lakstutiene, Ausrine, Rasa Norvaisiene, Jurgita Stankeviciene, and Rytis Krusinskas. "The Impact of Financial Crisis on the Non-Life Insurance Market in Lithuania : Will the Market Growth Expectations be Met?" Olsztyn Economic Journal 10, no. 1 (March 30, 2015): 5–18. http://dx.doi.org/10.31648/oej.3130.
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The article analyzes the insurance market trends, which have been determined by the financial crisis, and reveals the development features and prospects of non-insurance market, which accounts for almost 70% of the total insurance market, in Lithuania. The obtained results showed that after the market shrank by a quarter in 2009, the insurance sector is recovering, and while the volume of issued insurance premiums increased in 2013, they still remain lower than during the pre-crisis period. 2010 is a distinctive year for the Lithuanian non-insurance market due to a track of unusual abundance of adverse events. Throughout the analyzed period the structure of the non-insurance market issued portfolios remained the same in Lithuania, and throughout the whole analyzed period non-insurance market is dominated by Mandatory Third Party Liability Insurance (MTPLI), Voluntary vehicle insurance (CASCO) and Property insurances, which, according to estimates and analysts' forecasts, have growth potential.
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Vrachovski, Danail, and Kalina Kancheva Kancheva. "INSURANCE FUNDS AS FORM TO FINANCE SOCIAL ACTIVITIES." KNOWLEDGE INTERNATIONAL JOURNAL 30, no. 1 (March 20, 2019): 135–39. http://dx.doi.org/10.35120/kij3001135v.
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European regulations and mechanisms call for creation of unified social structures of collaboration and communications. As such could be social associations, insurance companies, insurance funds, clusters, voluntary social funds..The financing of social activities is carried out by various mechanisms, approaches and organizational forms. It could be used at the management of health insurance, social insurance, social activities etc. The purpose of the article is to outline the possibilities to us insurance funds at some social payments, mainly in the system of social insurance and social activities. Those social payment in the shape of social an pension incomes from insurance funds do not exhaust opportunities to apply the methods of payments with disability people of monetary compensations at sickness, social and health insurances and others. The methods could be implemented in other areas as health insurance, social assistance, health insurance etc., taking into consideration the nature of their activities.
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Mahdinia, Majid. "Investigation on Development Barriers of Electronic Insurance in Iranian Insurance Companies Case Study (Insurance Companies in Mazandaran Province)." International Journal of Family Business and Management 2, no. 2 (November 28, 2018): 1–6. http://dx.doi.org/10.15226/2577-7815/2/2/00117.
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Electronic insurances are from important phenomenon that used from information and communication technology and also are from information management that has depth evolution in the way of selling insurance and delivering of damages, through from side increasing the communication with insurer and with another side make the domain of virtual selling and buying of some insurance widely. In this research we pay attention to barriers of electronic insurance and getting some alternatives for expanding and developing electronic insurance in Iran insurance company at mazandaran state and investigating the effect of natural and behavioral barrier of environmental organization as independent variable to undeveloped electronically insurance as dependent variable with operating statistical analysis on collecting data and the result has shown with t-test that independent variable has effective significant on dependent variable and the factors with using of Friedman test has classified from their importance of organization nature of environment and behavioral are from the most important barrier of expanding electronic insurance. Key words: electronic trade, electronic insurance, information technology.
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Driver, Tania, Mark Brimble, Brett Freudenberg, and Katherine Hunt. "Insurance Literacy in Australia: Not Knowing the Value of Personal Insurance." Financial Planning Research Journal 4, no. 1 (December 1, 2018): 53–75. http://dx.doi.org/10.2478/fprj-2018-0003.
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ABSTRACT Underinsurance and low financial literacy have been shown to be key issues impacting the effectiveness of personal financial management. Both issues are made more important by the complex financial system, an ever moving array of financial products and services, and the progressive move towards self-reliance in retirement. These factors suggest a greater degree of financial independence and more effective financial decision-making is required over the long-term, both of which may be undermined by low financial literacy and underinsurance. Little is known, however, about the impact of financial illiteracy on the propensity to seek and retain insurance. Using an interview methodology, we obtained the views of informed and non-informed participants to examine insurance literacy in Australia. We find evidence that insurance literacy of consumers is generally low and exacerbated by factors such as low product knowledge, low trust of providers, low awareness of risk mitigation strategies, and behavioural decision-making biases. These factors can culminate in a perception of low value and subsequent underinsurance. Furthermore, this appears to be more acute for personal insurances as opposed to general insurances.
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Rogoziński, Dawid. "Securing Bank Claims by means of Credit Risk Insurance versus Insurance Recourse." Prawo Asekuracyjne 3, no. 100 (September 15, 2019): 47–61. http://dx.doi.org/10.5604/01.3001.0013.5733.
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This article examines the specific nature of the insurance of risks directly related to lending. The dynamic development of cooperation between banking and insurance industries has resulted not only in a greater popularity of the coverages already existing on the market, but also in new types of insurance products directly linked to banking operations and covering risks that were traditionally non-transferable to insurance undertakings. Further comments refer to the functions of insurance recourse in relations with banks. However, the main focus of this study is the confrontation of results of those analyses with the phenomenon of directing recourse claims to the entities carrying the actual and final burden of the insurance cost (borrowers). Moreover, practical solutions adopted by credit institutions which involve the treatment of credit risk insurances as payment protection methods and consequently shift the burden of insurance premium onto the borrower have been assessed.
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Yang, Chia-Jung, Chia-Wen Lu, Chien-Hsieh Chiang, Hao-Hsiang Chang, Chien-An Yao, and Kuo-Chin Huang. "Traveler’s knowledge, attitude, and practice about travel health insurance: A community-based questionnaire study." PLOS ONE 18, no. 2 (February 9, 2023): e0281199. http://dx.doi.org/10.1371/journal.pone.0281199.
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Background Travel, especially international travel, has become one of the most popular leisure activities in the world. The risk of accidents and travel-related illnesses, including infectious and non-communicable diseases, should not be neglected. To provide a more comprehensive pre-travel consultation to international travelers, this study aimed to investigate the knowledge, attitude, and practice of travelers about travel health insurance. Methods This was a cross-sectional study. Anonymous structured questionnaires were distributed to 1000 visitors to the Taiwan International Travel Fair in May 2019. Results The top three important travel health insurances were accidental death and disablement insurance (92%), accidental medical reimbursement (90.4%), and 24-hour emergency assistance (89%). In addition to education level, travel-associated illness, and special activities during travel, a significant association was observed between the willingness to buy various travel health insurances and the willingness of pre-travel consultation. Conclusions Most travelers would buy travel health insurance; however, disproportional respondents understood the content of travel health insurance. Most travelers considered travel clinics to be the most reliable information source regarding travel health insurance. Therefore, travel medicine specialists are encouraged to offer more information about travel health insurance during pre-travel consultation.
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Chi, Yichun, and Ken Seng Tan. "OPTIMAL INCENTIVE-COMPATIBLE INSURANCE WITH BACKGROUND RISK." ASTIN Bulletin 51, no. 2 (March 29, 2021): 661–88. http://dx.doi.org/10.1017/asb.2021.7.
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ABSTRACTIn this paper, the optimal insurance design is studied from the perspective of an insured, who faces an insurable risk and a background risk. For the reduction of ex post moral hazard, alternative insurance contracts are asked to satisfy the principle of indemnity and the incentive-compatible condition. As in the literature, it is assumed that the insurer calculates the insurance premium solely on the basis of the expected indemnity. When the insured has a general mean-variance preference, an explicit form of optimal insurance is derived explicitly. It is found that the stochastic dependence between the background risk and the insurable risk plays a critical role in the insured’s risk transfer decision. In addition, the optimal insurance policy can often change significantly once the incentive-compatible constraint is removed.
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Augustytė, Ugnė, and Daiva Jurevičienė. "DEVELOPMENT TRENDS OF GENERAL LIABILITY INSURANCE IN LITHUANIA." Ekonomika 90, no. 3 (January 1, 2011): 136–50. http://dx.doi.org/10.15388/ekon.2011.0.930.
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The article deals with the situation of general liability insurance in Lithuania and its alteration, with an emphasis on the novelty of the topic. The essence of a particular insurance as well as the main insurable ranges in comparison with other types of insurance are reflected. The key problems related to general liability insurance in Lithuania are presented and discussed. A short overview of other countries’ experience is provided together with the nature of general liability insurance. The environment of general liability insurance and the key factors influencing it are discussed and highlighted. A qualitative and quantitative analysis of the development of general liability insurance market is made.
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Maringe, Noah. "A double-edged sword: The role of insurable interest in non-indemnity insurance in the light of the Covid-19 pandemic in Zimbabwe." De Jure 55, no. 1 (June 10, 2022): 1–12. http://dx.doi.org/10.17159/2225-7160/2022/v55a3.
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The on-going Covid-19 pandemic has affected many facets of life including the business of insurance. It raises fresh questions as to who can insure the life of another because it has led to the loss of many lives. This brings one to the requirement of insurable interest in non-indemnity insurance. This paper argues that the requirement should be removed as it adds confusion to this branch of insurance law. It further limits the categories of people who can insure the lives of others. The Insurable Interest Bill of England attempts to expand the circumstances where one can have insurable interest. It is a step in the right direction as it represents liberalisation of that requirement. However, there are persuasive decisions in both Zimbabwe and South Africa which held that the existence of insurable interest should be a mere factor in deciding whether a contract is one of insurance or a mere wager. It is submitted that this decision can still be arrived at in some cases without even considering the existence of insurable interest. Removing the requirement of insurable interest has precedence as it has happened in other jurisdictions such as New Zealand and Australia. In fact, the intention of the Life Assurance Act 1 774 has not been achieved in real practice. The legal principles surrounding insurable interest in non-indemnity insurance are not only confused but they are confusing. Thus, the paper proposes for other facts which may be taken into account in determining whether a contract is one of insurance and not a wager. Such factors may include the age of the parties, the intention of the parties, the relationship of the parties and the consent of the insured. The emphasis should be on determining whether a contract is not a wager rather than to rely solely on the presence or absence of insurable interest.
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Madani, Assoc Prof Dr Filloreta, and Assoc Prof Dr Evelina Bazini. "Development of the Life Insurance Market in Albania." European Journal of Economics and Business Studies 8, no. 1 (May 19, 2017): 38. http://dx.doi.org/10.26417/ejes.v8i1.p38-47.
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Life insurances occupy a small part in the insurance market in developing countries. The new age of the insurance industry and the level of the economic development in Albania make the life insurance market even more fragile. Factors affecting the development of this market are influenced by the economic growth and by other factors such as inflation, education of population, population growth, government policies, private investment, etc. In this article we will analyze using statistical methods the degree of the impact of the above factors in the life insurance market and we will also analyze through penetration coefficients the impact of the life insurance industry in Albania's economic development.
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Wieteska, Stanisław. "Świadomość czy samoświadomość ubezpieczonych." Annales. Etyka w Życiu Gospodarczym 13, no. 1 (May 15, 2010): 231–38. http://dx.doi.org/10.18778/1899-2226.13.1.22.
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There is a term ‘self-avareness’ in the literature of insurance and opinion on the insurance market. On the base of the insurance data it is concluded that Poles hale a low level of awareness. The level increases when random event occurs. The aim of his article is an attempt to define a term ‘self-awareness’ and point its connection with life and property insurances.
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Sulistyowati, Sulistyowati. "DINAMIKA DAN PROBLEMATIKA ASURANSI SYARIAH." El-Qist: Journal of Islamic Economics and Business (JIEB) 2, no. 2 (October 25, 2012): 337–66. http://dx.doi.org/10.15642/elqist.2012.2.2.337-366.
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The mechanism of action of sharia insurance is essential to distinguish between Shariah insurance with conventional insurance lies in how the work is done from the premium deposits, investment funds, to the payment of insurance claims to participants stricken or disaster. Everything is summed up in the concept of the working mechanism Shariah insurance. Discussion about the mechanism of action or Shariah insurance, will be divided in two basic discussion in accordance with Shariah insurance payment itself, the family insurance and insurance Shari'ah common. This division is very important to do considering the mechanism of action of these two Shariah suransi it memuliki little difference, namely in the management of premiums paid to insurance companies Shari'ah. Difference arises because "something" that is to be insuranced is different, if in general insurance (loss) the insured's property or the property insurance participants, whereas in family insurance (life) which is self-insured insurance participants themselves. While the claims payment procedure is no difference between a family Takaful and Takaful general. The difference lies in the source of payment of claims. For the payment of claims to family Takaful insurance participants apart from savings and profit sharing of investment is also sourced from the savings tabarru', whereas in the general Takaful is not a savings tabarru' but the pristine source of savings and profit sharing insurance participants, while the payment of claims to do participants at the stricken insurance or out of contract or insurance participants withdrew into Islamic insurance company clients and most importantly Takaful insurance is not the same as conventional.
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Zhou, Rui, Johnny Siu-Hang Li, and Jeffrey Pai. "Evaluating effectiveness of rainfall index insurance." Agricultural Finance Review 78, no. 5 (October 1, 2018): 611–25. http://dx.doi.org/10.1108/afr-11-2017-0102.
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Purpose The purpose of this paper is to examine the reduction of crop yield uncertainty using rainfall index insurances. The insurance payouts are determined by a transparent rainfall index rather than actual crop yield of any producer, thereby circumventing problems of adverse selection and moral hazard. The authors consider insurances on rainfall indexes of various months and derive an optimal insurance portfolio that minimizes the income variance for a crop producer. Design/methodology/approach Various regression models are considered to relate crop yield to monthly mean temperature and monthly cumulative precipitation. A bootstrapping method is used to simulate weather indexes and corn yield in a future year with the correlation between precipitation and temperature incorporated. Based on the simulated scenarios, the optimal insurance portfolio that minimizes the income variance for a crop producer is obtained. In addition, the impact of correlation between temperature and precipitation, availability of temperature index insurance and geographical basis risk on the effectiveness of rainfall index insurance is examined. Findings The authors illustrate the approach with the corn yield in Illinois east crop reporting district and weather data of a city in the same district. The analysis shows that corn yield in this district is negatively influenced by excessive precipitation in May and drought in June–August. Rainfall index insurance portfolio can reduce the income variance by up to 51.84 percent. Failing to incorporate the correlation between temperature and precipitation decreases variance reduction by 11.6 percent. The presence of geographical basis risk decreases variance reduction by a striking 24.11 percent. Allowing for the purchase of both rainfall and temperature index insurances increases variance reduction by 13.67 percent. Originality/value By including precipitation shortfall into explanatory variables, the extended crop yield model explains more fluctuation in crop yield than existing models. The authors use a bootstrapping method instead of complex parametric models to simulate weather indexes and crop yield for a future year and assess the effectiveness of rainfall index insurance. The optimal insurance portfolio obtained provides insights on the practical development of rainfall insurance for corn producers, from the selection of triggering index to the demand of the insurance.
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Tasheva, Yordanka. "OPPORTUNITIES TO INTEGRATE IN BULGARIA THE BEST PRACTICES FROM THE USA MODEL OF PRIVATE ENTERPRENEURSHIP HEALTH INSURANCE SYSTEM." Knowledge International Journal 28, no. 1 (December 10, 2018): 183–88. http://dx.doi.org/10.35120/kij2801183t.
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The USA health insurance system is a model that encourages the entrepreneurship development in all kinds of medical care. The problems in USA and partly in Bulgaria concern the big difference between the actual medical care costs and the payment from the health insurance system. The private insurance companies are different in any USA state. In Bulgaria the private insurance companies must be limited and it is necessary to be integrated a central insurance system for the Bulgarian population. It must be controlled by the government state. In Bulgaria must be only one insurance government company and the population shouldn’t be divided as poor or rich, or employed or unemployed. In the present conditions the private insurance companies cannot be controlled by the Bulgarian government by giving any advices about the investments, saved by the played population health care insurances.
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Coble, Keith H., Terry Hanson, J. Corey Miller, and Saleem Shaik. "Agricultural Insurance as an Environmental Policy Tool." Journal of Agricultural and Applied Economics 35, no. 2 (August 2003): 391–405. http://dx.doi.org/10.1017/s1074070800021350.
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This paper examines the possibility that insurance for row crops, livestock, and aquaculture can be used effectively to encourage producers to adopt practices that will improve environmental behavior. Examples of agricultural environmental insurance are provided and considered in the context of alternative policy mechanisms. The current state of agricultural insurance and the nonagricultural environmental insurance market are explored. We also lay out the characteristics of an insurable risk along with the theoretical basis of insurance provision. An empirical example of an environmental insurance design is provided, and the behavioral implications of such a design are examined. Finally, we discuss important considerations that should be evaluated when considering an attempt to implement an agricultural insurance program directed at environmental behavior.
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Hartono, Risky Kusuma. "Equity Level of Health Insurance Ownership in Indonesia." Kesmas: National Public Health Journal 12, no. 2 (November 30, 2017): 93. http://dx.doi.org/10.21109/kesmas.v0i0.1408.
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Social health insurance from government program are expected to be able to reduce inequalities access to health services in the middle of rising of health care cost, while private health insurance is still limited for up and middle class population. This study aimed to analyze the equity level of health insurance ownership including social and private health insurance in Indonesia. This study examined the condition of Indonesia in the middle of entering National Health Insurance (NHI) era. This study used data of Indonesian Socio-Economic Survey 2012. Data were analyzed by using econometric approach through multinomial logit analysis. The results showed that the concentration index of social health insurance ownership was 0.615, which is smaller than private health insurance ownership (0.972). It means that Indonesia social health insurace ownership will be able to increase equity access to the health services especially for poor people (pro poor). Social health insurance ownership increases the use of the health services by people.
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Yamori, Nobuyoshi. "Insurance Education, Insurance Literacy and Insurance Purchasing Behavior." Hokengakuzasshi (JOURNAL of INSURANCE SCIENCE) 2021, no. 652 (March 31, 2021): 652_19–652_45. http://dx.doi.org/10.5609/jsis.2021.652_19.
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Weremczuk, Arkadiusz. "Dotowane ubezpieczenia upraw w Polsce. Stan i perspektywy." Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, no. 120 (December 29, 2017): 69–81. http://dx.doi.org/10.22630/eiogz.2017.120.39.
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The article is an attempt to analyze the functioning of subsidized crop insurance in Poland in 2012–2016. The evaluation of crop insurance has been done. Negative effectiveness of these products for insurance companies and the lack of universality in the acquisition of policies by agricultural producers in Poland were observed. The article proposes changes that may improve the functioning of these insurances, from demand and supply point of view.
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Bak, Joanna. "Property Insurance and Liability Insurance of Pharmacists and Pharmacies in the Olsztyn Market." Olsztyn Economic Journal 8, no. 3 (December 9, 2013): 269–76. http://dx.doi.org/10.31648/oej.3237.
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This article brings up a very important and current issue concerning the insurance of pharmacists and pharmacies. The aim of the research undertaken was to present the range and factors determining the choice of insurance products for pharmacies and pharmacists operating in Olsztyn. The study is focused on products ensuring protection for the properties owned and used in pharmacies, as well as third-person liability insurance related to the business activity and to the professional practice of a pharmacist. It identifies the most popular insurances in the examined population and specifies the factors determining their choice.
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Citrawati, Citrawati, Eko Edy Suntoro, and Erlina Puspitaloka Mahadewi. "Coordination Of Benefit (COB) Program Development Analysis: A Case Study Of Healthcare Insurance In Indonesia." International Journal of Science, Technology & Management 4, no. 4 (July 21, 2023): 742–47. http://dx.doi.org/10.46729/ijstm.v4i4.845.
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The present study reports the first comprehensive study on the coordination of benefits program in healthcare insurance in Indonesia. Every individual Indonesian citizen who works is required to have health insurance as a fulfillment of the obligation to be physically and comprehensively healthy. Ownership of health insurance can be through government programs which are mandatory government policies for every employee or health insurance managed by the services of a commercial insurance company. So that every Indonesian employee or citizen generally has 2 health insurance memberships, one is commercial insurance and the other is mandatory insurance from the government, BPJS health insurance. The use of health insurance from commercial insurance is the first choice, while BPJS health insurance is used as a backup if the coverage limit on commercial insurance has expired. With limited coverage limits provided by private insurance based on premium payments for each class registered by the company, the government facilitates a program to use the benefits of the two health insurances simultaneously, known as the Coordination of Benefits between BPJS Health and commercial insurance. This study uses a qualitative method to analyze how far this program has progressed, as well as the development of an additional health insurance benefit program in Indonesia. The end goal of this research it can be concluded that highlighting the benefits of this program that can be maximized by health insurance participants, what obstacles are faced by participants, as well as health services when using the coordination of benefits program and its development in the future.
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Assa, Hirbod. "A financial engineering approach to pricing agricultural insurances." Agricultural Finance Review 75, no. 1 (May 5, 2015): 63–76. http://dx.doi.org/10.1108/afr-12-2014-0041.
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Purpose – The purpose of this paper is to introduce a continuous time version of the speculative storage model of Deaton and Laroque (1992) and to use for pricing derivatives, in particular insurances on agricultural prices. Design/methodology/approach – The methodology of financial engineering is used in order to find the partial differential equations that the dynamics of derivative prices have to satisfy. Furthermore, by using the Monte-Carlo method (and Feynman-Kac theorem) the insurance prices is computed. Findings – Results of this paper show that insurance prices (and derivative prices in general) are heavily influenced by market structure, in particular, the demand function specifications. Furthermore, through an empirical analysis, the performance of the continuous time speculative storage model is compared with the geometric Brownian motion model. It is shown that the speculative storage model outperforms the actual data. Practical implications – Since the agricultural insurances in many countries are subsidised by government, the results of this paper can be used by policy makers to measure changes in agricultural insurance premiums in scenarios that market experiences changes in demand. In the same manner, insurance companies and investors can use the results of this paper to better price agricultural derivatives. Originality/value – The issue of agricultural insurance pricing (in general derivative pricing) is of great concern to policy makers, investors and insurance companies. To the author’s knowledge, an approach which uses the methodology of financial engineering to compute the insurance prices (in general derivatives) is new within the literature.
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Ling, Zicong, Jingyi Zhou, and Churui Zhou. "Research on China's Overseas Investment Expropriation Insurance ——Based on MIGA's Experience and Enlightenment." Journal of Education, Humanities and Social Sciences 24 (December 31, 2023): 385–92. http://dx.doi.org/10.54097/y9gkdn83.
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With the promotion of the "Belt and Road" initiative, the scale of China's overseas FDI has been growing exponentially, and the exposure of Chinese enterprises to overseas investment to political risks has also been on the increase. It is common for major capital-exporting countries in the world to safeguard themselves against overseas investment risks by creating an overseas insurance system for such investments. Amongst them, the Multilateral Investment Guarantee Agency (MIGA) is a representative insurance system, which is also a modality that China can learn from. At this moment, the China National Export and Credit Insurance Corporation (Sinosure) is the exclusive domestic commercial enterprise that covers overseas capital investment insurances in China. There are still some deficiencies in the scope of coverage, insurance premium regulations and underwriting conditions in the field of insurance. This essay investigates the issues of collection on insurance for Sinosure 's overseas ventures, learns from MIGA's insurance system, and puts forward suggestions for improvement.
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WIDANA, I. NYOMAN, and KETUT JAYANEGARA. "ANALISIS PRODUK ASURANSI UNIT LINK DI INDONESIA." E-Jurnal Matematika 8, no. 1 (February 2, 2019): 42. http://dx.doi.org/10.24843/mtk.2019.v08.i01.p233.
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This paper presents a unit-linked insurance which is a modern insurance. The policyholders will get benefits of insurances and investment. The aim of this research is to analysis of unit link insurance products in Indonesia. Especially to analysis the mortality cost, premium, return, and profit of the product. The method used is a stochastic profit testing method and the results of the study show that mortality cost offered by the three unit link companies selected as the sample of this study are greater than the insurance costs calculated based on the Indonesian Mortality Table. From comparing different unit linked insurance plans, only one plan is sufficient to fund the guarantee. While others have to do a Top-up premium.
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KULYNA, Halyna, and Yaroslav FARION. "WORLD MARKET OF INSURANCE SERVICES IN THE CONDITIONS OF CHANGE THE PARADIGM OF GLOBAL ECONOMIC DEVELOPMENT." WORLD OF FINANCE, no. 3(52) (2017): 48–59. http://dx.doi.org/10.35774/sf2017.03.048.
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Introduction. Global changes in society and the rapid development of financial technologies identify major trends in the global insurance market. At the same time there are changes to the functioning of the global insurance market and the organization of insurance companies it according to the new paradigm of the economic community. Purpose. The aim of the research is to evaluate the trends of the global insurance market, identifying characteristics and problematic aspects of its operation in the changing paradigm of progress, to identify key priorities for further evolution in the regional dimension. Results. The features and problems outlined aspects of the global insurance market in terms of a paradigm shift. The estimation of trends in its evolution in terms of developed and developing countries. The basic innovations in insurance-related robotics market development and risks of cyber-attacks, information and digitalization society. The basic priorities of the further evolution of the global insurance market in regional terms. The ways of improvement principles Solvensy II, which will improve the efficiency of the European insurance market. Conclusion. For today for the world market of insurance services characteristic are next tendencies and range of problems of further advancement: acceleration of increase of volume of insurance bonuses, that get insurers from the risk types of insurance, life-insurance and reinsurance; activations of demand are on insurance services in countries that develop, especially in China, to South Korea and others like that; declines of cost of insurance products in the field of commercial insurance and strengthening of insurance interest in cyber-insurance and insurances of robots; consolidations of leading insurers are in a few highly developed countries.
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Rutkowska, Małgorzata, Adam Sulich, and Jolanta Pakulska. "Environmental insurance in Poland and selected EU countries." Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie 18, no. 3 (September 29, 2017): 79–90. http://dx.doi.org/10.5604/01.3001.0010.6488.
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The article presents an analysis of offered ecological (environmental) insurances by insurance companies operating in Poland as an innovative tool to protect local environment. The purpose of this article is to analyse the role of insurance and reinsurance companies in managing environmental risks. The research method was an analysis of the environmental insurance offered to Polish enterprises and normative acts. The idea of ecological insurances was compared for selected EU countries and data for biggest ecological disasters. This concept helps create a source of funds to restore natural environment after damages which may occur due to human activity. Poland and Hungary are the countries with the highest number of ecological disasters but none financial protection is applied to reduce these threats.
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Shet, Nagaraj, Ghulam Jeelani Qadiri, Sunita Saldanha, Gayathri Kanalli S., and Prajna Sharma. "Pattern of utilization of health insurance in two districts of South Karnataka." International Journal Of Community Medicine And Public Health 6, no. 10 (September 26, 2019): 4310. http://dx.doi.org/10.18203/2394-6040.ijcmph20194486.
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Background: Health insurance is a widely recognized and preferable mechanism to finance the health care expenditure of the individuals. It is an important mechanism in the modern world to save the individuals from the huge health shock but only a small percentage of people even from educated higher income groups are covered under any health insurance policy. This study was undertaken to know the pattern of health insurance utilization in Uttar Kannada and Udupi districts of Karnataka.Methods: A descriptive study was conducted among 550 household of Uttar Kannada and Udupi districts. Household were selected using multistage sampling technique.Results: Of the 550 study participants, 348 (63.27%) were aware and also subscribed for any type of the health insurance and of these only 89 (25.57%) utilized them. 190 (34.55%) had availed Rashtriya Swastya Bima Yojana, 42 (7.64%) for Yashasvini, 6 (1.09%) forESI, 12 (2.18%) for Sampoorna Suraksha and 15 (27.27%) had private insurances. Reasons for not availing health insurances other than being unaware were complicated process 85 (42.08%) and provides only partial coverage 49 (24.26%). The main reasons for not using the health insurance were non availability of empaneled hospital 84 (74.34%), disease not being under the scope of scheme 60 (23.17%) and 32 (12.36%) were unaware about the process of availing.Conclusions: Health insurances being are the best way to help people reduce their financial burden has to be made aware and the drawbacks have to be addressed.
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Dimitrov, Stanislav. "Limitations of the framework to address value for money risk in the European unit-linked market." VUZF Review 7, no. 1 (March 28, 2022): 32–42. http://dx.doi.org/10.38188/2534-9228.22.1.04.
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Savings in the unit-linked products are increasing across the European Union member-states. In environment of low interest rates and increased capital requirements for traditional life insurance products the supply of the unit-linked insurances is rapidly growing. The last year sold unit-linked life insurances in Bulgaria are four times more than five years earlier.
Unit-linked life insurance consists of insurance part and asset management part. The investment result from the insurance is usually born by the insured. The investment performance is related to the performance of the financial markets.
The growing acceptance of unit-linked products are posing questions of adequate information to consumers, the balance between the price and the benefits of the products, the related risks and the proper rights of the insured.
All these specifics raise questions whether the insured are well informed when buying the insurance and whether the client’s needs and preferences are matched with the proposed product. These questions lead to the asking what value is receiving the client for the money spent – value for money effect and risks.
In the European Union there is no common framework on the assessment of the effectiveness of the product. The European Insurance and Occupational Pensions Authority is proposing framework to address value for money risk in the European unit-linked market.
The study finds out that the design of the product is of great importance for the value for money effect for the insured. The life insurance activity in the European Union follows strict and profound regulations both for the life insurance companies and for the life insurance products. That is why additional framework is not the most necessary step. The European Union needs Savings plan that encourages saving in the member states, increases the insurance coverage, increases the accumulated assets and improves the efficiency of the personal savings and investment products.
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Zolotukhin, Aleksei. "Legal nature of business risk insurance." SHS Web of Conferences 50 (2018): 01227. http://dx.doi.org/10.1051/shsconf/20185001227.
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This paper raises the question of the legal nature of business risk insurance. A conclusion is made that the legal understanding of business risk insurance should be built upon the unity of the actual content of this type of insurance and its legal form. The presence of a special subject on the policy holder’s side in business risk insurance determines the features of the object of such type of insurance, which is represented by an entrepreneur’s insurable interests related to one’s business activity. In the legal sense, insurance is a legal relationship and is characterized by a bilateral connection between the insurer and the policyholder that manifests in a unity of their subjective rights and responsibilities. Two aspects of insurance indicate not the existence of two independent notions free from each other: insurance in the economic sense and insurance in the legal sense, but rather demonstrate two aspects of one phenomenon that exist in an inseparable unity. In the course of comparing business risk insurance and liability insurance, the author comes to a conclusion that unlike liability insurance, business risk insurance is connected not with the policyholder’s wrongful behavior but, on the contrary, with the possible dishonesty of their contracting party.
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Sharma, Pushpa Raj. "Mainstreaming Micro-Insurance Schemes: Role of Insurance Companies in Nepal." Economic Literature 11 (May 9, 2016): 40. http://dx.doi.org/10.3126/el.v11i0.14865.
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<p>Micro-insurance refers to the relatively short term insurances meant for health, accident, crop and livestock policies. The beneficiaries are the rural people who are mostly involved in agriculture which is subject to different external shocks. Along with agro insurance, the regulator is also encouraging insurance companies to insure micro enterprises such as water mills, tea shops, rickshaws and vending carts. The poor households currently need to incur huge amounts of health expenses which are over and above their current income(s) and savings and therefore, need to resort to multiple sources of financing, of which a major source is borrowing. At present, there are 25 registered insurance companies in Nepal. Of these, 8 are private commercial life insurers, 16 are private commercial non-life insurers and 1 is composite insurer. There is no scientific calculation of the crop’s yield and of livestock, which will create ambiguity in the valuation of the property being insured. </p><p><strong>Economic Literature,</strong> Vol. XI (40-46), June 2013 </p>
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Kislingerová, Sofia, and Jindřich Špička. "Factors Influencing the Take-Up of Agricultural Insurance and the Entry into the Mutual Fund: A Case Study of the Czech Republic." Journal of Risk and Financial Management 15, no. 8 (August 16, 2022): 366. http://dx.doi.org/10.3390/jrfm15080366.
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The objective of the study was to identify the main factors influencing farmers’ willingness to take up agricultural insurance and participate in a mutual fund for non-insurable risks in the Czech Republic. Responses from 214 representative farms were processed using descriptive statistics, paired t-tests, binary logistic regression, and contingency analysis. The regression model showed the influences of agricultural area, distrust in insurance companies, the probability of losing more than 20% of production, the price of insurance premiums, and having a developed formal strategy on the likelihood of taking up agricultural insurance. Unlike previous empirical studies, this study did not attempt to look at agricultural insurance as an isolated risk management tool but rather to show the interrelationship between farmers’ decisions to join a mutual fund and their choice of agricultural insurance. Farmers expect most agricultural production risks to become significantly more important. With the ongoing economic crisis in the EU, there is growing pressure to reduce ad hoc public spending on coverage of non-insurable risks and to seek alternative solutions. The study also shows the need for a holistic approach to the design of risk management support systems in EU countries.
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Oldertz, Carl. "Security Insurance, Patient Insurance, and Pharmaceutical Insurance in Sweden." American Journal of Comparative Law 34, no. 4 (1986): 635. http://dx.doi.org/10.2307/840326.
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RASHID, MOHAMMAD. "FINANCIAL STATEMENT ANALYSIS OF IDBI FEDERAL LIFE INSURANCE, NEW DELHI‖." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, no. 04 (May 1, 2024): 1–5. http://dx.doi.org/10.55041/ijsrem32550.
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Financial statement analysis provides a comprehensive understanding of IDBI Federal Life Insurance's financial health and operational efficiency for the period 2022-2023. In conjunction with this analysis, an overview of the market size and valuation of the company within the insurance industry is essential for stakeholders to gain a holistic perspective. The insurance industry in India has witnessed significant growth over the past few years, driven by factors such as increasing awareness about financial security, rising disposable income, and favorable regulatory reforms. Within this landscape, IDBI Federal Life Insurance operates as a prominent player, contributing to the overall market size. The market size of the insurance industry encompasses various segments, including life insurance, health insurance, and general insurance. As a life insurance company, IDBI Federal Life Insurance primarily operates within the life insurance segment. The market size of the life insurance sector is influenced by factors such as demographic trends, economic conditions, and regulatory policies. Despite the challenges posed by the COVID-19 pandemic, the life insurance industry in India has demonstrated resilience, with continued growth in premium income and policy sales. IDBI Federal Life Insurance, leveraging its market presence and distribution network, has contributed to the expansion of the overall market size by attracting customers and offering a diverse range of insurance products and services.
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Ramoutar, Richard S. "The Effects of Insurances, Pensions and Mutual Funds on Economic Growth." Journal of Economics and Public Finance 6, no. 1 (January 6, 2020): p17. http://dx.doi.org/10.22158/jepf.v6n1p17.
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Earlier studies on the impact of the insurance sectors activities on economic growth have largely failed. To examine the financial development market interaction of pensions and mutual funds linkages, through which insurance assets affects economic growth. This study re-examines the impact of life insurance premium volume, non-life insurance premium volume, insurance company assets, pension fund assets and mutual fund assets on economic growth. Using panel data of 33 countries over the period 2000-2016. The study applied the Autoregressive Distributed Lag (ARDL) model in panel setting using the PMG (Pooled Mean Group) and MG (Mean Group) estimators in this analysis. The study findings indicate that cointegration exists among all series and that insurances and mutual funds stimulate economic growth in both the short and long run.
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Rühl, Giesela. "Common Law, Civil Law, and the Single European Market for Insurances." International and Comparative Law Quarterly 55, no. 4 (October 2006): 879–910. http://dx.doi.org/10.1093/iclq/lei133.
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AbstractFifty years after the foundation of the European Communities, the single market for insurances has not yet become a reality. Despite the harmonization of insurance supervision law, insurance companies still essentially refrain from cross-border activity when it comes to small commercial and consumer risks. Since this finding is usually attributed to the lack of common rules on insurance contracts, this article sets out to lay the foundation for the harmonization of the corresponding national laws. By providing a comparative analysis of two of the most pervasive issues in consumer insurance contract law, the article proves that common law and civil law are not as far apart as commonly assumed. It thus refutes the widely held belief that the insurance contract laws of common law and civil law countries are too different to be harmonized.
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Zaman, M. Raquibuz. "Some Issues In Risk Management and Insurance In a Non-Muslim State." American Journal of Islam and Society 5, no. 2 (December 1, 1988): 263–73. http://dx.doi.org/10.35632/ajis.v5i2.2717.
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IntroductionThis paper is not intended to be a discourse on whether or not insuranceis permitted under Islam. The subject is controversial and, hence, there areat least five different viewpoints on the subject which are:1. Insurance is permissible (mutbuh).2. Insurance is prohibited (haram).3. Insurance is not permitted in an Islamic state (dar-ul-Islam) .4 . Insurance may be permissible between Muslim policy holdersand non-Muslim insurers in a non-Muslim state whereMuslims have religious freedom and security (dar-ul-amn),and in an enemy state (dar-ul-harb), if required to do so.5 . Insurance provides important social benefits which areotherwise not available at all. However, some features and/orpractices of modem insurance companies are undesirable and,hence, they must be changed before insurance can be permitted.
The controversy on insurance is quite understandable. There was no suchinstitution in existence at the time of the Prophet (on him be peace) or the ...
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Latorre Guillem, Miguel Angel. "The Customer Orientation Service of Spanish Brokers in the Insurance Industry: The Advisory Service of the Insurance Distribution Channel Bancassurance." Sustainability 12, no. 7 (April 8, 2020): 2970. http://dx.doi.org/10.3390/su12072970.
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This research focuses on the customer orientation of insurance brokers, whose activity is regulated by the Law on the mediation of private insurances and reinsurances. The goal is to ascertain whether the intermediation inherent in the insurance broker’s activity, which implies a customer-oriented service, entails a positive behaviour that transcends the immediate environment, reaching society. This study presents a comparative analysis between the insurance brokerage society, characterised by a personalised customer service, and banks’ advisory services on insurance. To this end, the study uses a sample of insurance brokerage firms in Spain. The results presented in this study suggest that the customer values the advisory service provided by the broker. However, for a particular business segment in standardized insurance products and products related to banking assets, customers are more likely to resort to the bank’s services. In addition, the results indicate that the commission percentages applied by the entities operating in the banking insurance channel exceed those perceived by the insurance broker. With all this, intermediation in the development of the insurer’s activity can entail social behaviour that involves customer-orientation and, possibly, social service and environmental performance.