A Study on the Impact on the Guarantor’s risk and Policy Holders’ Benefit from the Insurance Premium Structure Changes in Korean Reverse Mortgage Program

2017 ◽  
Vol 109 ◽  
pp. 43-78 ◽  
Author(s):  
Seungryul Ma ◽  
Jeongju Kim
Keyword(s):  
Insurance Premium ◽  
Reverse Mortgage ◽  
Structure Changes ◽  
The Impact

The impact of insurance premium taxation

2018 ◽  
Vol 8 (1) ◽  
pp. 127-167
Author(s):  
Moritz Degelmann ◽  
Anna-Maria Hamm ◽  
Stefan Weber
Keyword(s):  
Insurance Premium ◽  
The Impact

Climate change and fl ood insurance in Germany, Great Britain and Serbia

2021 ◽  
Author(s):  
Slobodan Jovanovic ◽  
Keyword(s):  
Climate Change ◽  
Great Britain ◽  
Insurance Premium ◽  
Point Of View ◽  
Prevention Measures ◽  
Natural Risk ◽  
The United Kingdom ◽  
Risk Insurance ◽  
The Impact ◽  
High Winds

In this paper, the author analyzes the organization of fl ood risk insurance, the risk which signifi cantly deteriorates due to climate change in Germany, the United Kingdom and Serbia. Th e author used selected studies and works, national legislation, insurance conditions and materials of specialized organizations. Climate change signifi cantly aff ects the frequency and severity of the harmful consequences of fl ood risks, which, due to their catastrophic consequences and territorial exposure, require more effi cient prevention measures and the design of their insurance. Floods are increasingly occurring as a result of heavy rainfall and high winds that simultaneously enhance their harmful potential. Th erefore, insurers cannot ignore the impact of climate change on the conditions for taking risks, determining the insurance premium, excesses and all other aspects related to these risks. From the point of view of risk assessment and selection techniques, the principle of fl ood insurability will certainly be applied in the future. Th erefore, refraining insurers from insuring those risks where the recurrence of fl oods is more frequent than a certain number of years (fi ve or ten years), based on the historical development of claims or classifi cation of zones into the danger class with increased frequency, will certainly pose a problem for policyholders. In Germany, fl ood risk cover is provided similarly to a number of Serbian insurers, ie. as an additional risk to basic property risks. However, the German insurance practice provides an opportunity to insure a number of other natural risks as a supplementary risk in the form of a natural risk package. It should be pointed out that there are also insurers in Serbia, whose policy terms regarding the cover scope more or less coincide with the insurance of named risks in Great Britain. Th ese are insurance conditions that represent an extension of the so-called traditional insurance of named fi re risks, which certainly represents a good step in the direction of modernizing the household insurance conditions in Serbia.

From Earthquake Geophysical Measures to Insurance Premium: A Generalised Method for the Evaluation of Seismic Risk, with Application to Italy’s Housing Stock

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Riccardo Cesari ◽  
Leandro D’Aurizio
Keyword(s):  
Seismic Risk ◽  
Housing Stock ◽  
Insurance Premium ◽  
New Technique ◽  
Probabilistic Assessment ◽  
Natural Catastrophes ◽  
A New Technique ◽  
The Impact ◽  
Housing Units

Abstract Following the increasing necessity of quantitative measures for the impact of natural catastrophes, this paper proposes a new technique for a probabilistic assessment of seismic risk by using publicly available data on the earthquakes that have occurred in Italy. We implement an insurance-oriented methodology to produce a new map of the seismic risk and to evaluate, under various hypotheses, the costs of insuring all the Italian housing units against it. The model is compared with two main privately developed models, well known in the reinsurance industry, providing fairly similar results.

scholarly journals BPOP-v1 model: exploring the impact of changes in the biological pump on the shelf sea and ocean nutrient and redox state

2019 ◽  
Author(s):  
Elisa Lovecchio ◽  
Timothy M. Lenton
Keyword(s):  
Organic Matter ◽  
Deep Ocean ◽  
Biological Pump ◽  
Promising Tool ◽  
Biogeochemical Fluxes ◽  
Structure Changes ◽  
Large Particles ◽  
Shelf Sea ◽  
Slope Sediment ◽  
The Impact

Abstract. The ocean’s biological pump has changed over Earth history from one dominated by prokaryotes, to one involving a mixture of prokaryotes and eukaryotes with trophic structure. Changes in the biological pump are in turn hypothesised to have caused important changes in the ocean’s nutrient and redox properties. To explore these hypotheses, we present here a new box model including oxygen (O), phosphorus (P) and a dynamical biological pump. Our Biological Pump, Oxygen and Phosphorus (BPOP) model accounts for two – small and large – organic matter species generated by production and coagulation, respectively. Export and burial of these particles are regulated by a remineralization length (zrem) scheme. We independently vary zrem of small and large particles in order to study how changes in sinking speeds and remineralization rates affect the major biogeochemical fluxes, and O and P ocean concentrations. Modelled O and P budgets and fluxes lay close to present estimates for zrem in the range of currently measured values. Our results highlight that relatively small changes in zrem of the large particles can have important impacts on the O and P ocean availability and support the idea that an early ocean dominated by small particles was nutrient rich due to inefficient removal to sediments. The results also highlight that shelf ocean anoxia can coexist with an oxygenated deep open ocean for realistic values of zrem, especially for large values of the small particle zrem. This could challenge conventional interpretations that the Proterozoic deep ocean was anoxic, which are derived from shelf and slope sediment redox data. This simple and computationally inexpensive model is a promising tool to investigate the impact of changes in the organic matter sinking and remineralization rates as well as changes in physical processes coupled to the biological pump in a variety of case studies.

Did the time frame associated with the implementation of the Patient Protection and Affordable Care Act noticeably impact consumer bankruptcy filings?

2017 ◽  
Vol 44 (12) ◽  
pp. 1957-1972
Author(s):  
Donald D. Hackney ◽  
Daniel Friesner ◽  
Erica H. Johnson
Keyword(s):  
Health Insurance ◽  
Affordable Care Act ◽  
Dynamic Change ◽  
Time Frame ◽  
Insurance Premium ◽  
Skewed Distribution ◽  
Structural Dynamic ◽  
Content Type ◽  
Patient Protection ◽  
The Impact

Purpose The purpose of this paper is to examine whether the timing associated with the implementation of the health insurance-related provisions of the Patient Protection and Affordable Care Act (ACA) altered the presence and distribution of medical/non-medical debts accumulated by different types of bankruptcy filers. Design/methodology/approach Data were drawn from the US Bankruptcy Court’s Eastern Washington District over the years 2009, 2011 and 2014 using interval random sampling. Binary probit and Tobit analyses were used to model the existence, and distribution, of medical debts and total debts, respectively, at the time of filing. The impact of the time frame associated with the ACA was operationalized via a Chow test for structural dynamic change. Findings Chapter 13 filers in 2014 (post-ACA-based health exchange implementation) were more likely to report medical debts than Chapter 7 filers in the pre-intervention period, and were also more likely to report a larger proportion of outstanding debts owed to a single creditor. Filers claiming health insurance premium expenses in 2011 were (at the 10 percent significance level) more likely to report a more skewed distribution of medical debts. Originality/value The time frame associated with the implementation of the ACA impacts the distribution of medical debts among filers who have sufficient net disposable income to fund a Chapter 13 plan. The polarization of outstanding medical debts may indicate coverage gaps in existing health insurance policies, whose costs would be disproportionately borne by patients operating on thin financial margins.

scholarly journals The Expected Utility Insurance Premium Principle with Fourth-Order Statistics: Does It Make a Difference?

Algorithms ◽  
2020 ◽  
Vol 13 (5) ◽  
pp. 116
Author(s):  
Alessandro Mazzoccoli ◽  
Maurizio Naldi
Keyword(s):  
Order Statistics ◽  
Fourth Order ◽  
Expected Utility ◽  
Value At Risk ◽  
Order Approximation ◽  
Insurance Premium ◽  
Second Order ◽  
Accurate Approximation ◽  
Increased Risk ◽  
The Impact

The expected utility principle is often used to compute the insurance premium through a second-order approximation of the expected value of the utility of losses. We investigate the impact of using a more accurate approximation based on the fourth-order statistics of the expected loss and derive the premium under this expectedly more accurate approximation. The comparison between the two approximation levels shows that the second-order-based premium is always lower (i.e., an underestimate of the correct one) for the commonest loss distributions encountered in insurance. The comparison is also carried out for real cases, considering the loss parameters values estimated in the literature. The increased risk of the insurer is assessed through the Value-at-Risk.

scholarly journals Physical Activity and Obesity: Biomechanical and Physiological Key Concepts

2011 ◽  
Vol 2011 ◽  
pp. 1-10 ◽  
Author(s):  
Julie Nantel ◽  
Marie-Eve Mathieu ◽  
François Prince
Keyword(s):  
Physical Activity ◽  
Body Weight ◽  
Gait Pattern ◽  
Relative Energy ◽  
Excess Body Weight ◽  
Energy Expenditures ◽  
Structure Changes ◽  
Musculoskeletal Structure ◽  
Low Levels ◽  
The Impact

Overweight (OW) and obesity (OB) are often associated with low levels of physical activity. Physical activity is recommended to reduce excess body weight, prevent body weight regain, and decrease the subsequent risks of developing metabolic and orthopedic conditions. However, the impact of OW and OB on motor function and daily living activities must be taken into account. OW and OB are associated with musculoskeletal structure changes, decreased mobility, modification of the gait pattern, and changes in the absolute and relative energy expenditures for a given activity. While changes in the gait pattern have been reported at the ankle, knee, and hip, modifications at the knee level might be the most challenging for articular integrity. This review of the literature combines concepts and aims to provide insights into the prescription of physical activity for this population. Topics covered include the repercussions of OW and OB on biomechanical and physiological responses associated with the musculoskeletal system and daily physical activity. Special attention is given to the effect of OW and OB in youth during postural (standing) and various locomotor (walking, running, and cycling) activities.

scholarly journals SISTEM PENJAMINAN SIMPANAN (DEPOSIT INSURANCE SYSTEM) PADA INDUSTRI PERBANKAN INDONESIA

2019 ◽  
Vol 1 (2) ◽  
pp. 77-90
Author(s):  
Sjafruddin Sjafruddin
Keyword(s):  
Deposit Insurance ◽  
Insurance Premium ◽  
Bank Risk ◽  
Contagion Effect ◽  
Insurance System ◽  
Guarantee System ◽  
Deposit Insurance System ◽  
The Government ◽  
Public Costs ◽  
The Impact

Banking plays a very important role in the economy along with its function to channel funds from parties who have excess funds (surplus of funds) to those who need funds (lack of funds). If the banking industry does not work well, the economy will become inefficient and the expected economic growth will not be achieved. The risks that are always inherent in the financial and banking sectors, can trigger a crisis at any time and result in a collapse of the country's economy. To overcome the impact of the crisis, the government must pay quite large public costs. This article analyzes several important concepts, namely bank risk and the contagion effect, the operation of a deposit guarantee system that has been implemented in various countries after a financial crisis and how the deposit guarantee program is implemented in Indonesia. The results show that the Deposit Insurance System (DIS) can be implemented through law enforcement system, market discipline, political and economic freedom, low levels of corruption, strict regulations inbanking sector, setting an adequate deposit insurance premium based on the level of bank risk , and selective deposit guarantees. Keywords: Deposit Insurance System,Indonesia Deposit Insurance Corporation, Risk   Abstrak Perbankan memegang peran yang sangat penting dalan perekonoman seiring dengan fungsinya untuk menyalurkan dana dari pihak yang mempunyai kelebihan dana (surplus of funds) kepada pihak-pihak yang membutuhkan dana (lack of funds). Apabila industri perbankan tidak bekerja dengan baik, maka perekonomian menjadi tidak efisien dan pertumbuhan ekonomi yang diharapkan tidak akan tercapai. Risiko yang selalu melekat dalam sektor keuangan dan perbankan, dapat memicu terjadinya krisis sewaktu-waktu dan berakibat lumpuhnya ekonomi negara. Untuk menanggulangi dampak krisis tersebut, pemerintah harus mengeluarkan biaya publik cukup besar. Artikel ini menganalisis beberapa konsep penting, yaitu risiko bank dan  efek penularan (Contagion Effect),penyelenggaraan sistem penjaminan simpanan yang telah di implementasikan berbagai negara setelah terjadi krisis keuangan dan bagaimana implementasi program penjaminan simpanan di Indonesia.Hasilnya menunjukkan bahwaDeposit Insurance System (DIS) dapat diimplementasikan melalui sistem penegakan hukum yang kuat, disiplin pasar, kebebasan politik dan ekonomi, tingkat korupsi yang rendah, regulasi khususnya di bidang perbankan yang kuat, penetapan premi penjaminan simpanan yang memadai dan berdasarkan tingkat risiko bank, serta pemberian jaminan simpanan yang selektif. Kata Kunci:Deposit Insurance System, Lembaga Penjamin Simpanan, Risiko

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