Search results for " Insurance"
showing 10 items of 132 documents
Implant failure and history of failed endodontic treatment: A retrospective case-control study
2017
Background Residual bacterial biofilm and/or bacteria in planktonic form may be survived in the bone following an extraction of an infected tooth that was endodontically treated unsuccessfully Failed endodontic treatment may be associated with failure of implants to osseointegrate in the same sites. Therefore, the aim of this retrospective case-control study is to examine the risk of implant failure in previous failed endodontic sites. Material and methods This retrospective case-control study is based on 94 dental records of implants placed at the University of Minnesota School of Dentistry. Dental records of patients who received an implant in sites with previously failed endodontic thera…
Coûts de la sclérose en plaques en France
2014
Multiple sclerosis (MS) is one of the 30 chronic conditions specifically listed by the French healthcare system as a long-term disease (affections de longue duree [ALD]) for which the main health insurance fund (Caisse nationale d'assurance maladie des travailleurs salaries [CNAMTS]) provides full (100%) coverage of healthcare costs. The CNAMTS insures 87% of the French population (52,359,912 of the 60,028,292 inhabitants). The objectives of this study were to evaluate the direct and indirect medical costs of MS among the entire population insured by the CNAMTS in France in 2004. The CNAMTS provided us with access to the ALD database of patients with MS that contains different MS-related ex…
Case Comment: C-82/10 European Commission v Ireland - Judgement of the Court of Justice of the European Union, September 29, 2011 (VHI Case)
2011
This article (published online for the EJLE, see below) is the case comment on the recent judgement (September 29, 2011) of the Court of Justice of the European Union in the case No C-82/10 concerning non-life insurance. This case was initiated by the European Commission against Ireland for failure to fulfil its obligations by not covering the Voluntary Health Insurance Board by insurance supervisory scheme as provided for by relevant Directives. The above insurance institution which is the main health insurer in Ireland enjoys exemption from the supervisory scheme envisaged by relevant Directives. Ireland may maintain this exemption if its capacity is not amended; otherwise the above insti…
A Victim of a Road Traffic Accident Not Fastened by the Seat Belt and the EU Motor Insurance Law: CJEU Judgment in Vítor Hugo Marques Almeida
2013
This case note relates to the recent judgement (23 October 2012) by the Court of Justice of the European Union in the case No C-300/10 concerning interrelation of the European Union motor insurance law and the national civil liability regulation. As the civil liability arising from motor traffic accidents is not approximated by the European Union law, its regulation falls within the national law. Yet, application of the national civil liability law shall not undermine the obligation to provide insurance coverage for victims of road traffic accidents. The discussed case concerns a situation when a victim who was not fastened by a seat belt at the moment of a motor traffic accident was injure…
Warren Buffett versus Zvi Bodie: Should You Buy Or Sell Put Options?
2021
Academics and investment professionals often disagree when it comes to investment advice. Legendary investor Warren Buffett is a proponent of time diversification and firmly believes that stocks are less risky in the long run. Therefore, he often sells long-term put options instead of buying them for portfolio protection. By contrast, the famous finance professor Zvi Bodie argues that time diversification is a fallacy and, therefore, his advice to fund managers is to buy long-term portfolio insurance. In this article, we consider the optimal portfolio choice problem for a loss-averse investor. First, we demonstrate that our loss-averse investor subscribes to the principle of time diversific…
Asset and Liability Management for Insurance Products with Minimum Guarantees: The UK Case
2006
Abstract Modern insurance products are becoming increasingly complex, offering various guarantees, surrender options and bonus provisions. A case in point are the with-profits insurance policies offered by UK insurers. While these policies have been offered in some form for centuries, in recent years their structure and management have become substantially more involved. The products are particularly complicated due to the wide discretion they afford insurers in determining the bonuses policyholders receive. In this paper, we study the problem of an insurance firm attempting to structure the portfolio underlying its with-profits fund. The resulting optimization problem, a non-linear program…
Enhancing Bank Transparency: A Re-assessment
2001
Transparency regulation aims at reducing financial fragility by strengthening market discipline. There are however two elementary properties of banking that may render such regulation inefficient at best and detrimental at worst. First, an extensive financial safety net may eliminate the disciplinary effect of transparency regulation. Second, achieving transparency is costly for banks, as it dilutes their charter values, and hence it also reduces their private costs of risk-taking. We consider both the direct costs of complying with disclosure requirements and the indirect transparency costs stemming from imperfect property rights governing information and specify the conditions under which…
Financing Unemployment Benefits: Dismissal versus Employment Taxes
2006
This paper investigates the effects of using dismissal taxes to finance unemployment benefits. We compare dismissal and employment taxes in a model with search frictions. Employment taxes give rise to externalities because firms do not take into account the effects their dismissal decisions have on others. By introducing dismissal taxes to finance unemployment insurance, these externalities can partly be internalized. Taking into account the budget of the unemployment insurance, employment taxes can be reduced by more than necessary to offset the adverse effect of dismissal taxes on the firm value. The introduction of dismissal taxes leads to higher job creation and lower unemployment, in c…
Direct Compensation and Risk Management: A Key Study from the Insurance Sector
2019
This paper examines the business model of an Italian company (TIS) that manage the claims for non-life insurance companies with innovative solutions. When a policy-holder make a claim for a loss or damage, the insurer may decide either to repair, rebuild or replace the property or to offer a cash settlement. To provide these services, many insurance companies have started developing strategic relationships directly with building firms, repairers, specialist suppliers and project managers, in order to find reliable contractors that will repair or replace the policy holder’s property quickly, with high quality and at a low cost. Opposite to other EU Countries, in Italy many insurance companie…
CO2 Prices and Portfolio Management
2008
Since January 2005, the attention on European carbon markets has been increasing and thus the interest in studying the implications of the existence of two new assets in portfolio management. In this article we analyse both the characteristics of the EUAs Phase I and Phase II as a sole investment and the impact of including these two assets, considered separately, in a well-diversified portfolio. In order to control the problems of using historical returns, we have performed this analysis using as expected returns either historical returns or risk-adjusted returns. We find that, although the weights of EUAs are not too important when incorporating the EUAs in an optimal and well-diversified…