Search results for "Group insurance"
showing 3 items of 3 documents
Health insurance: medical treatment vs. disability payment
2010
We present arguments for treating health insurance and disability insurance in an integrated manner in economic analysis, based on a model where each individual's utility depends on both consumption and health and her income depends on her earning ability. When purchasing insurance, she may choose a contract that offers less than full medical treatment. We find that high-ability individuals demand full recovery and equalize utility across states, while low-ability individuals demand partial treatment and cash compensation and suffer a loss in utility if ill. Our results carry over to the case where health states are not observable. NOTICE: this is the author’s version of a work that was acc…
The Influence of Behavioral Factors on Insurance Decision – A Romanian Approach
2013
Abstract Although the classical economic theory postulates that individuals should make perfectly rational choices that take into account all the available information, I will present, in the following, the action of behavioral factors on the decisions regarding the insurance against certain events. I will analyze the elements that determine a person who should be covered against a risk, not to buy insurance and the reverse situation when, although the likelihood of the event is reduced, a person will secure against the damage(s) caused by it. In this paper I developed a general approach of the behavioral factors with specific reference to the Romanian market .Finally, I will suggest the in…
Ethical Behaviour and Operating Performance of Insurance Broker Firms
2015
In this research we investigate whether there is a relationship between the ethical behaviour of insurance brokers and their operating performance. Specifically, we focus on the practice of deferring the premiums charged to clients in order to invest them in short–term financial products and, as a result, gain an additional financial return to their traditional sources of income. We consider this practice to be an unethical behaviour since uninformed clients, that is, those who are not aware of the legal process of brokerage, expect the broker to immediately process the policy with the insurance company once the premium has been paid. We find that the better the performance and the larger t…