Public Control of Automobile Insurance Rate Adequacy and Excessiveness

1963 ◽  
Vol 30 (3) ◽  
pp. 423
Author(s):  
Frederick G. Crane
Keyword(s):  
Automobile Insurance ◽  
Public Control ◽  
Insurance Rate

scholarly journals Have the Politics of Rate Regulation Produced a Better No-Fault Regime for Ontario ?

2005 ◽  
Vol 39 (2-3) ◽  
pp. 473-489
Author(s):  
Bruce Feldthusen
Keyword(s):  
Insurance Industry ◽  
Automobile Insurance ◽  
Injury Rates ◽  
Rate Regulation ◽  
Catastrophic Injury ◽  
Accident Compensation ◽  
Insurance Rate ◽  
The Government ◽  
The Cost

Ontario has changed its no-fault legislation substantially three times in the past decade. These changes have reflected the interest group lobbying of the insurance industry and the practising bar. However, the main and explicit motivation, especially for the latest revision, has been the government's desire to regulate rates. With the Automobile Insurance Rate Stability Act the government appears to have struck a very successful compromise. The lawyers have been allowed an increased, albeit limited, right to sue in tort. The insurers have achieved more certainty, with stricter time and monetary limits on benefits for non-catastrophic injury. Rates have been reduced in part through lower benefit levels, but primarily by throwing the cost of automobile accidents on to other collateral sources. There is, therefore, some subsidization of driving inherent in the legislation. There are also compensation gaps, especially in long term health care, that affect mainly the most vulnerable members of society. Both these shortcomings could and should be easily corrected. So far, it would appear that the politics of rate regulation have generated an improved no-fault automobile accident compensation scheme for Ontario.

The Economics and Politics of Automobile Insurance Rate Classification

1993 ◽  
Vol 60 (1) ◽  
pp. 59 ◽  
Author(s):  
Scott E. Harrington ◽  
Helen I. Doerpinghaus
Keyword(s):  
Automobile Insurance ◽  
Insurance Rate ◽  
Economics And Politics

scholarly journals On automobile insurance ratemaking

1968 ◽  
Vol 5 (1) ◽  
pp. 41-48 ◽  
Author(s):  
Jan Jung
Keyword(s):  
General Model ◽  
Degrees Of Freedom ◽  
Random Variables ◽  
Automobile Insurance ◽  
Insurance Plan ◽  
Canadian Data ◽  
Relative Loss ◽  
Different Types ◽  
Insurance Rate ◽  
Expected Values

Suppose that an automobile insurance plan is characterized by a double classification. The risks are thus divided into classes, i = 1, 2, …, p (e.g. defined by use of car and age of operator), and groups j = 1, 2, …, q (e.g. defined by licence and by accidents during the last three years). The experience of the company is described by the observed “relative loss ratios” rij and some measure of exposure nij. A general model, often used, is that the rij: s are observations of random variables with the expected values gij = g(αi, βj), where the relativities αi are parameters representing the classes i and the relativities βj represent the influence of the groups j. One of the ratemaker's problems is to find a realistic function g(α, β) and to obtain estimates ai of αi and bj of βj.In their paper “Two Studies in Automobile Insurance Rate-making” (ASTIN Bulletin Vol. I, Part IV, page 192-217) Robert Bailey and LeRoy Simon have thoroughly analyzed this problem for private passenger automobiles in Canada. They have principally studied three different types of the function g(α β), namely g(α β) = αβ (Method 2), g(α β) = α + β (Method 3) and g(α β) = 3αβ— 2 (Method 4). The authors show in an appendix, that the variance of rij is approximately g(αi βj)/Knij where K ≅ 0.005 for the Canadian data. They estimate the relativities αi and βj; by making χ2 = K. Σnij(rij — gij)2/gij a minimum. For the Canadian material, the “method 4” agrees best with the observations. This method gives an observed χ2 value of about 8 for 11 degrees of freedom.

Identifying Key Fraud Indicators in the Automobile Insurance Industry Using SQL Server Analysis Services

2019 ◽  
Vol 64 (2) ◽  
pp. 53-71
Author(s):  
Botond Benedek ◽  
Ede László
Keyword(s):  
Neural Network ◽  
Decision Tree ◽  
Naive Bayes ◽  
Insurance Industry ◽  
Naïve Bayes ◽  
Sql Server ◽  
Categorical Variables ◽  
Automobile Insurance ◽  
Price Determination ◽  
Mining Tool

Abstract Customer segmentation represents a true challenge in the automobile insurance industry, as datasets are large, multidimensional, unbalanced and it also requires a unique price determination based on the risk profile of the customer. Furthermore, the price determination of an insurance policy or the validity of the compensation claim, in most cases must be an instant decision. Therefore, the purpose of this research is to identify an easily usable data mining tool that is capable to identify key automobile insurance fraud indicators, facilitating the segmentation. In addition, the methods used by the tool, should be based primarily on numerical and categorical variables, as there is no well-functioning text mining tool for Central Eastern European languages. Hence, we decided on the SQL Server Analysis Services (SSAS) tool and to compare the performance of the decision tree, neural network and Naïve Bayes methods. The results suggest that decision tree and neural network are more suitable than Naïve Bayes, however the best conclusion can be drawn if we use the decision tree and neural network together.

Activity of public control entities and development of distributed computing and distributed data storage systems

2018 ◽  
pp. 14-22
Author(s):  
D. V. Gribanov
Keyword(s):  
Distributed Computing ◽  
Data Storage ◽  
Storage Systems ◽  
Legal Regulation ◽  
Distributed Data ◽  
Distributed Data Storage ◽  
Public Control ◽  
Blockchain Technology ◽  
Legal Method ◽  
Digital Assets

Introduction. This article is devoted to legal regulation of digital assets turnover, utilization possibilities of distributed computing and distributed data storage systems in activities of public authorities and entities of public control. The author notes that some national and foreign scientists who study a “blockchain” technology (distributed computing and distributed data storage systems) emphasize its usefulness in different activities. Data validation procedure of digital transactions, legal regulation of creation, issuance and turnover of digital assets need further attention.Materials and methods. The research is based on common scientific (analysis, analogy, comparing) and particular methods of cognition of legal phenomena and processes (a method of interpretation of legal rules, a technical legal method, a formal legal method and a formal logical one).Results of the study. The author conducted an analysis which resulted in finding some advantages of the use of the “blockchain” technology in the sphere of public control which are as follows: a particular validation system; data that once were entered in the system of distributed data storage cannot be erased or forged; absolute transparency of succession of actions while exercising governing powers; automatic repeat of recurring actions. The need of fivefold validation of exercising governing powers is substantiated. The author stresses that the fivefold validation shall ensure complex control over exercising of powers by the civil society, the entities of public control and the Russian Federation as a federal state holding sovereignty over its territory. The author has also conducted a brief analysis of judicial decisions concerning digital transactions.Discussion and conclusion. The use of the distributed data storage system makes it easier to exercise control due to the decrease of risks of forge, replacement or termination of data. The author suggests defining digital transaction not only as some actions with digital assets, but also as actions toward modification and addition of information about legal facts with a purpose of its establishment in the systems of distributed data storage. The author suggests using the systems of distributed data storage for independent validation of information about activities of the bodies of state authority. In the author’s opinion, application of the “blockchain” technology may result not only in the increase of efficiency of public control, but also in the creation of a new form of public control – automatic control. It is concluded there is no legislation basis for regulation of legal relations concerning distributed data storage today.

IMPROVING MECHANISMS OF COOPERATION BETWEEN THE STATE BORDER SERVICE OF UKRAINE, PUBLIC ORGANISATIONS AND POPULATION

2018 ◽  
Vol 1 (11) ◽  
pp. 91-101
Author(s):  
Iakiv Serhiiovych Halaniuk
Keyword(s):  
Political Stability ◽  
Subject Area ◽  
The State ◽  
Military Force ◽  
Border Area ◽  
Public Control ◽  
The Public ◽  
Mechanism Model ◽  
Public Organisations ◽  
The Military

The article highlights the author’s approach to improving coopera- tion mechanisms of the State Border Service of Ukraine with public organiza- tions and population. There has been analyzed public control as a means their cooperation and priorities of improving the cooperation, particularly, forms and methods of organizing citizens’ feedback, introduction of the assessment pro- cedure of the efficiency of the SBSU and population and public organization. There have been stated conceptual pillars of the public control development in the SBSU, developed by the author, including public control forms and resource provision. There has been considered a mechanism algorithm of the public par- ticipation in the development of the border administration through submitting petitions or proposals concerning a legally enforceable enactment draft (or the legally enforceable enactment currently in force). There has been represented a mechanism model of discussing legally enforceable enactments and public peti- tions, developed by the author. It is noted that one of the mechanisms of interac- tion of the SBSU with the public is effective public control, which becomes an in- tegral part of ensuring national security and political stability. The conditions of permanence of Ukraine's threats in the border area, and in certain areas and their exacerbation, along with further reforms of the institutes of Ukrainian statehood, cause the problem of establishing and implementing public control in the border area as an important and urgent one.It is proved that public control is intended to determine the correctness of the military-force policy in the border area, the validity of the scale and optimality of the forms of activity of the border guards. In accordance with all this, in the subject area of public control should be: political decisions on issues of border security, including international agreements; the expediency and validity of government programs for the provision and reform of the border authorities of Ukraine, assess- ment of the effectiveness of these programs and the procedure for making changes to them.

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