Search results for "Liability insurance"

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…

Informācijas stratēģiskā loma apdrošināšanā

2004

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…

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…

L’assicurazione della responsabilità civile su base claims made e la deformazione del giudizio sulla causa del contratto

2019

The essay analyses civil liability insurance contracts based on claims made and the tormented evolution of the related jurisprudence. The Author criticizes the position of the jurisprudence, especially with reference to the recent judgment of the Sezioni Unite no. 22437 of 2018. The examination widens to the reckless attempt of the Sezioni Unite to subordinate the validity of these contracts to a judgment of adequacy imbedded in the context of the judgment on the cause of the contractand destined, in case of negative outcome, to allow the judge to redetermine the content of the contract, using the remedy of partial nullity pursuant to Article 1419 of the civil code, in a rebalancing effort.

Insurance league: Italy vs. U.K

2003

Insurers are competing by adopting product innovations that provide the insured with integrated coverage for actuarial and financial risks. This article compares the contract structures of blended life policies between the insurance markets in Italy and the United Kingdom within the context of asset-liability management and welfare analysis. © Emerald Backfiles 2007.

Contro l’uso della nullita ` parziale in chiave di conformazione del contratto

2020

.Il saggio analizza la tendenza giurisprudenziale a servirsi della nullita ` parziale ex art. 1419 c.c. per realizzare interventi sul contratto animati dall’obiettivo di ridefinirne il contenuto in funzione di riequilibrio dei relativi termini. Il caso piu ` eclatante registrato di recente e ` rappresentato dalla sentenza a Sezioni unite del 2018 in materia di contratti di assicurazione della responsabilita ` civile con copertura claims made, nella quale si e ` assistito all’abbandono del grimaldello della meritevolezza degli interessi di cui all’art. 1322 c.c. a vantaggio di un uso altamente censurabile della categoria della causa del contratto che sfocia in una declaratoria di nullita ` p…

Critica della causa al servizio dell’adeguatezza in concreto del contratto. Il caso dell’assicurazione della responsabilità civile con copertura clai…

2019

The essay analyses civil liability insurance contracts based on claims made and the tormented evolution of the related jurisprudence. The Author criticizes the position of the jurisprudence, especially with reference to the recent judgment of the Sezioni Unite no.22437 of 2018. Upon examination of the reasons given to support the validity of this type of contract, the Author comes to the conclusion that the latter should be considered void in both versions: pure and impure claims made. Indeed, the claims made agreement drives the related contract beyond the area of the indemnity function, placing it firmly in the context of contracts with speculative cause. The examination then widens to th…

The Fair Premium of an Equity—Linked Life and Pension Insurance

2002

An equity linked life and pension insurance contract consists of an nonlinear combination of a life and pension insurance with an investment strategy. In addition to the guaranteed payments the insured receives a bonus depending on the value of an investment strategy. The additional payment is similar to an Asian type option. Since the insurance contract combines mortality and financial risks in a nonlinear way, the value or premium of the contract must reflect these uncertainties. Within this context a premium sequence is called fair if the accumulated expected discounted premium is equal to the accumulated expected discounted payments of the contract. This paper shows the existence of a f…