Search results for "Insurance"

How Do Unisex Life Care Annuities Embedded in a Pay-As-You-Go Retirement System Affect Gender Redistribution?

2017

This paper deals with the idea of converting retirement benefit into a life care annuity with graded benefits using a pre-existing public pay-as-you-go pension scheme. Based on accurate biometric data from Australia and the US, the paper shows that using gender-neutral annuity factors to compute the initial benefit involves a large increase in ex-ante gender redistribution compared to a system without long-term coverage. In spite of the very different biometric data, the results are surprisingly similar for both countries. To disentangle the hidden redistribution, a methodology based on conversion (actuarial) factors is used. The value of the actuarial factor relies on a multistate framewor…

A LEGAL OPINION ON WHETHER A PERSON PERFORMING THE FUNCTION (CHURCH OFFICE) OF THE ECONOMIST OF THE POLISH BISHOPS’ CONFERENCE SATISFIES THE CONDITIO…

2019

Przedmiotem opinii jest udzielenie odpowiedzi na pytanie: czy osoba pełniąca funkcję (urząd kościelny) Ekonoma Konferencji Episkopatu Polski wypełnia przesłankę określoną w przepisie art. 44 ust. 3 ustawy z dnia 28 sierpnia 1997 r. o organizacji i funkcjonowaniu funduszy emerytalnych, czyli należy do kręgu tzw. „osób zależnych”? Przeprowadzona analiza stanu prawnego i faktycznego w tym konkretnym przypadku doprowadziła do konkluzji, że sam fakt bycia Ekonomem KEP nie powoduje, że ziszcza się negatywna przesłanka z art. 44 ust. 3 ustawy o organizacji i funkcjonowaniu funduszy emerytalnych. Ponieważ jednak osoba wykonująca funkcję Ekonoma KEP pozostaje równocześnie w stosunku pracy z jednostk…

Extemporaneous formulations in Germany – relevance for everyday clinical practice

2017

Background Extemporaneous formulations broaden the spectrum of therapeutic options for topical treatment in particular and thus improve patient care. The latest amendment to the Regulation on the Operation of Pharmacies issued in 2012 brought about changes in prescribing and manufacturing practices. The aim of the present study was to assess the relevance of extemporaneous formulations in everyday clinical practice. Methods We used data from the German Institute for Drug Use Evaluation (DAPI) to analyze the prescribing practice for compounded preparations in Germany between the fourth quarter of 2011 and the third quarter of 2014. In doing so, we determined the total cost associated with ex…

Problem Questions of Insurance Contract Regulation in Latvia

2012

This paper reviews significant defects of Latvian Insurance Contract Law arising from its drafting procedure and interrelation with other laws. Particular attention is paid to the out-dated approaches contained in this law, and the paper discusses them in conjunction with approaches developed in other European countries, including neighboring countries. The paper challenges inclusion of regulations of insurance contract in the above mentioned separate law and instead proposes its inclusion in the Civil Law of the Republic of Latvia, and provides grounds for such proposal.

A comment on mortgage procylicality

2012

This paper comments on mortgage procyclicality. A framework for credit constraints along the lines of Kiyotaki and Moore (1997) is applied to illustrate a potential regime shift in the credit risk assessments of mortgagees. Depending on the relationship between house price growth and the alternative rate of return the weight given to collateral and debt-servicing ability may vary according to the house price cycle as mortgagees engage in search-for-yield. The regime shifts induced by increased global liquidity and expectations of continued housing appreciation might stimulate owner-occupation and LTV-ratios and induce mortgage procyclicality.

Insurance mechanisms for tropical cyclones and droughts in Pacific Small Island Developing States

2016

One group of locations significantly affected by climate-related losses and damage is the Small Island Developing States (SIDS). One mechanism aiming to reduce such adverse impacts is insurance, with a wide variety of products and models available. Insurance for climate-related hazards affecting Pacific SIDS has not been investigated in detail. This article contributes to filling this gap by exploring how insurance mechanisms might be implemented in the Pacific SIDS for tropical cyclones and droughts. The study examines opportunities and constraints or limitations of some existing insurance mechanisms and programmes as applied to the Pacific SIDS. Eight insurance mechanisms are compared and…

Pricing Reinsurance Contracts

2011

Pricing and hedging insurance contracts is hard to perform if we subscribe to the hypotheses of the celebrated Black and Scholes model. Incomplete market models allow for the relaxation of hypotheses that are unrealistic for insurance and reinsurance contracts. One such assumption is the tradeability of the underlying asset. To overcome this drawback, we propose in this chapter a stochastic programming model leading to a superhedging portfolio whose final value is at least equal to the insurance final liability. A simple model extension, furthermore, is shown to be sufficient to determine an optimal reinsurance protection for the insurer: we propose a conditional value at risk (VaR) model p…

Informācijas stratēģiskā loma apdrošināšanā

2004

Risk Preference Heterogeneity and Multiple Demand for Insurance

2010

We examined the relationship between unobserved risk preferences and four insurance purchase decisions: health Medigap insurance, long-term insurance, life insurance and annuity. Standard economic theory assumes that individuals take decision over a set of risky domains according to their own risk preferences which are stable across decision contexts. This assumption of context-invariant risk preference has caused debate in the literature concerning its validity. Using data from the Health and Retirement Study, we exploit latent class analysis to identify conditional on predicted and realized risk how heterogeneity in risk preferences affects multiple insurance demand. Our results provide e…

What does insurance purchase behaviour say about risks?

2015

Purpose – This paper aims to explore the world of insurances as rites of adaptancy and resiliency before risk and disasters. The research on risks, both perceived and real, has become a frequent theme of academic research in the recent past. Design/methodology/approach – The information given by the superintendencia de Seguros de Buenos Aires involves 100 per cent of the insurances companies of Argentina. The reading of insurance demands corresponds with a new method in the studies of risks. Findings – Using advanced probability theory and quantitative techniques, risk management researchers have been able to construct sophisticated mathematical-statistical models of risk. Research limitat…