Search results for "Insurance"
showing 10 items of 194 documents
The barratry of the shipmaster in early modern law: polysemy and mos Italicus
2019
Summary ‘Barratry’ is a polysemic term: it means deceit, bribe, simony, and fraud of the shipmaster. This article seeks to trace the origins of the word and to explore its different meanings, focusing especially on the influence that older meanings had on the development of more recent ones. This operation is of particular importance to understand the meaning of barratry that would appear for last – that of fraud of the shipmaster. By the time civil lawyers started dealing with maritime barratry, they were already well familiar with the other meanings of the term. This probably favoured the adaptation process, but it also left a deep mark on its outcome: the weight of those other meanings o…
The Sustainability Factor: How Much Do Pension Expenditures Improve in Spain?
2020
The reform of 2013 represented a qualitative leap in the reform of the Spanish pension system. Unlike its predecessors, it introduced two automatic resetting mechanisms similar to those of other European countries. The first is the sustainability factor, scheduled to come into effect in 2019 but delayed until 2023, and its ultimate reversal cannot be ruled out. The objective of this study was to quantify the savings, or the lowest expenditure, that can be achieved in the Spanish public contributory pension system by applying it. These savings are measured in terms of cash&mdash
Measuring universal health coverage based on an index of effective coverage of health services in 204 countries and territories, 1990-2019: a systema…
2020
Publisher's version (útgefin grein)
Liquidity Synchronization, Its Determinants and Outcomes under Economic Growth Volatility: Evidence from Emerging Asian Economies
2021
This study investigates the country-level determinants of liquidity synchronization and degrees of liquidity synchronization during economic growth volatility. As a non-diversifiable risk factor, liquidity co-movement shock spreads market-wide and thus disrupts the overall functioning of the financial market. Firms in Asian markets operate in legal and regulatory environments distinct from those of firms analyzed in the previous literature. Comprehensive analyses of liquidity synchronicity in emerging markets are limited. A major knowledge gap pertaining to Asian emerging markets serves as the primary motivation for this study. Seven Asian emerging economies are selected from the MSCI emerg…
Asset and Liability Modelling for Participating Policies with Guarantee
2008
We study the problem of asset and liability management of participating insurance policies with guarantees. We develop a scenario optimization model for integrative asset and liability management, analyze the tradeoffs in structuring such policies, and study alternative choices in funding them. The nonlinearly constrained optimization model can be linearized through closed form solutions of the dynamic equations. Thus large-scale problems are solved with standard methods. We report on an empirical analysis of policies offered by Italian insurers. The optimized model results are in general agreement with current industry practices. However, some inefficiencies are identified and potential im…
Modelling and forecasting mortality in Spain
2008
[EN] Experience shows that static life tables overestimate death probabilities. As a consequence of this overestimation the premiums for annuities, pensions and life insurance are not what they actually should be, with negative effects for insurance companies or policy-holders. The reason for this overestimation is that static life tables, through being computed for a specific period of time, cannot take into account the decreasing mortality trend over time. Dynamic life tables overcome this problem by incorporating the influence of the calendar when graduating mortality. Recent papers on the topic look for the development of new methods to deal with this dynamism. Most methods used in dyna…
Insurance Supervisory Law and Consumer Protection
2015
This chapter discusses the relationship between insurance supervisory law and consumer protection within the ambit of Solvency II and the EIOPA system. To this, the article focuses on existing laws, with particular regard given to European rules on insurance supervision. The Solvency II Directive takes as its exclusive objective the protection of insureds and insurance beneficiaries. Solvency II does not address consumer protection. Nevertheless, consumer protection is a significant by-product of the Solvency II rules, in the sense of collective consumer protection. The EIOPA Regulation provisions, too, address consumer protection solely in the realm of collective consumer protection. The a…
The prometeia model for managing insurance policies with guarantees
2008
Publisher Summary This chapter discusses the development of a scenario-based optimization model for asset and liability management for the participating policies with guarantees and bonus provisions offered by Italian insurers. The changing landscape of the financial services in Italy sets the backdrop for the development of this system which was the result of a multi-year collaborative effort between academic researchers, the research staff at Prometeia in Bologna, and end-users from diverse Italian insurers. It also presents and discusses the model and its key feature, and introduces several extensions. The resulting system allows the analysis of the tradeoffs facing an insurance firm in …
"OCTA" tirgus problēmas Latvijā
2019
OCTA ir sauszemes transportlīdzekļu īpašnieku civiltiesiskās atbildības obligātā apdrošināšana, kas Latvijā pastāv jau no 1997. gada, kopš 2004. gada OCTA sistēmu pārrauga, attīsta un stabilizē Latvijas Transportlīdzekļu apdrošinātāju birojs un kopš 2006. gada darbojas bonus-malus sistēma. Lai gan OCTA sistēma ir daudz attīstījusies un pilnveidojusies un šis ir 22. gads, kad OCTA darbojas Latvijā, tā tikai piecus gadus ir strādājusi ar peļņu. Bakalaura darba mērķis ir balstoties uz pieejamo informāciju, izpētīt OCTA nozares darbību, veicot apdrošināšanas izmaksāto atlīdzību un saņemto prēmiju izpēti, sniegt priekšlikumus nozares pilnveidošanai. Lai sasniegtu darba mērķi tika izpētīts vai OC…
Insurance in Elizabethan England. The London Code
2016
English insurance came into being almost entirely during the Elizabethan period. However, the Great Fire of 1666 consumed most of London's mercantile document, and therefore little is known about early English insurance. Using new archival material, this study provides the first in-depth analysis of early English insurance. It focuses on a crucial yet little-known text, the London Insurance Code of the early 1580s, and shows how London insurance customs were first imported from Italy, then influenced by the Dutch, and finally shaped in a systematic fashion in that Insurance Code. The London Insurance Code was in turn heavily influenced by coeval continental codes. This deep influen…