The Impact on Workers' Compensation Insurance Markets of Allowing the Terrorism Risk Insurance Act to Expire

10.7249/rr643 ◽  
2014 ◽  
Keyword(s):  
Insurance Markets ◽  
Workers Compensation ◽  
Terrorism Risk ◽  
Risk Insurance ◽  
The Impact

scholarly journals impact of workers’ compensation benefit cessation on welfare and health service use

2021 ◽  
Vol 6 (1) ◽  
Author(s):  
Tyler Lane ◽  
Janneke Berecki-Gisolf ◽  
Ross Iles ◽  
Alex Collie ◽  
Peter Smith
Keyword(s):  
Emergency Department ◽  
Social Services ◽  
State Hospital ◽  
Service Use ◽  
Third Party ◽  
Community Control ◽  
Workers Compensation ◽  
Health Insurance Data ◽  
Medical Benefits ◽  
The Impact

BackgroundIn 2012, the Australian state of New South Wales passed legislation that reformed its workers’ compensation system. Section 39 introduced a five-year limit on income replacement, with the first affected group having their benefits cease in December 2017. There is limited evidence on how this will affect their healthcare service use and where they will go for financial support. MethodsMultiple data sources will be linked: administrate workers’ compensation claims data from the State Insurance Regulatory Authority (SIRA), universal health insurance data from the Medical Benefits Schedule (MBS) and Pharmaceutical Benefits Scheme (PBS), state hospital and emergency department data, and social welfare data from the Department of Social Services’ Data Over Multiple Individual Occurrences (DOMINO). An estimated 4,125 injured workers had their benefits cease due to Section 39. These will form the exposure group who will be compared to 1) a similar group of workers’ compensation claimants who have had at least two years of compensated time off work but whose benefits did not cease due to Section 39; and 2) a community comparison group drawn from state hospital and emergency department records. An accredited third party will link the data, which will be accessible only via secure virtual machine. Initial analyses will compare the prevalence and incidence of service use across groups in both the year before and year after benefit cessation; the community control will be assigned the median benefit cessation date in lieu of an actual date. To estimate the impact of benefit cessation due to Section 39, we will conduct time series analysis of the prevalence and incidence of service use. DiscussionThis study will provide much-needed evidence on the consequences of long-term benefit cessation, particularly on subsequent healthcare and welfare service use.

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.

scholarly journals How much do means-tested benefits reduce the demand for annuities?

2016 ◽  
Vol 16 (4) ◽  
pp. 419-449 ◽  
Author(s):  
MONIKA BÜTLER ◽  
KIM PEIJNENBURG ◽  
STEFAN STAUBLI
Keyword(s):  
Longevity Risk ◽  
Occupational Pension ◽  
Life Cycle Model ◽  
Cycle Model ◽  
Retirement Benefits ◽  
Trade Off ◽  
Administrative Dataset ◽  
Risk Insurance ◽  
The Impact ◽  
Pension Wealth

AbstractMeans-tested retirement benefits create incentives to cash out pension wealth. Individuals trade off the advantages from annuitization, receiving longevity risk insurance, to the disadvantages, giving up ‘free’ wealth in the form of means-tested supplemental income. We quantify the impact of means-tested benefits with a calibrated life-cycle model, demonstrating that they substantially reduce the desire to annuitize especially for low and intermediate levels of pension wealth. Using an administrative dataset on pension choices, we show that the model's predicted fraction of retirees choosing the annuity is able to match the annuitization pattern of occupational pension wealth observed in Switzerland. On the base of our model, we also assess alternative policies such as mandatory annutization and tougher asset tests.

scholarly journals O2C.5 Increasing costs of occupational injuries in association with high ambient temperatures in adelaide, south australia, 2000–2014

2019 ◽  
Vol 76 (Suppl 1) ◽  
pp. A17.2-A17
Author(s):  
Jianjun Xiang ◽  
Alana Hansen ◽  
Dino Pisaniello ◽  
Peng Bi
Keyword(s):  
Older Workers ◽  
South Australia ◽  
Economic Benefits ◽  
Retail Trade ◽  
Maximum Temperature ◽  
Workers Compensation ◽  
Work Related ◽  
Compensation Claims ◽  
The Impact ◽  
Compensation Costs

ObjectiveTo investigate the impact of ambient temperature on compensation costs due to work-related injuries, and to provide an evidence base about the economic benefits of developing workplace heat prevention strategies in a warming climate.MethodsWorkers’ compensation claims obtained from SafeWork South Australia for 2000–2014 were transformed into daily time series format and merged with meteorological data. The relationship between temperature and compensation costs were estimated using a generalized linear model after controlling for long-term trends, seasonality, and day of week. A piecewise linear spline function was used to account for non-linearity.ResultsA total of 4 64 139 workers’ compensation claims were reported during the 15 year period in South Australia, resulting in AU$14.9 billion dollars compensation payment. Overall, it is a reversed V-shaped temperature-cost association. A 1°C increase in maximum temperature was associated with a 1.1% (95% CI, 0.2%–2.0%) increase in daily injury compensation expenditure below 35.2°C. Specifically, significant increases of injury costs were observed in males (1.4%, 95% CI 0.3%–2.5%), young workers (3.0%, 95% CI 1.2%–4.9%), older workers≥65 years (2.4%, 95% CI 0.5%–4.4%), labourers (2.7%, 95% CI 0.5%–4.8%), machinery operators and drivers (3.5%, 95% CI 1.6%–5.3%) and the following industries: agriculture, forestry, fishing and hunting (12.3%, 95% CI 2.2%–23.3%); construction (7.8%, 95% CI 0.02%–16.3%); and wholesale and retail trade (2.4%, 95% CI 0.5%–4.4%). Costs for compensating occupational burns and ‘skin and subcutaneous tissue diseases’ increased by 3.1% (95% CI 1.2%–5.1%) and 2.7% (95% CI 0.1%–5.4%) respectively, with a 1°C increase in maximum temperature.ConclusionThere is a significant association between temperature and work-related injury compensation costs in Adelaide, South Australia for certain subgroups. Heat attributable workers’ compensation costs may increase with the predicted rising temperature.

scholarly journals The impact of the obstetrical risk insurance scheme in Mauritania on maternal healthcare utilization: a propensity score matching analysis

2020 ◽  
Vol 35 (4) ◽  
pp. 388-398 ◽  
Author(s):  
Marion Ravit ◽  
Andrainolo Ravalihasy ◽  
Martine Audibert ◽  
Valéry Ridde ◽  
Emmanuel Bonnet ◽  
...  
Keyword(s):  
Propensity Score ◽  
Propensity Score Matching ◽  
Neonatal Mortality ◽  
Estimation Method ◽  
Healthcare Services ◽  
Child Health Services ◽  
Public Healthcare ◽  
Payment Scheme ◽  
Risk Insurance ◽  
The Impact

Abstract In Mauritania, obstetrical risk insurance (ORI) has been progressively implemented at the health district level since 2002 and was available in 25% of public healthcare facilities in 2015. The ORI scheme is based on pre-payment scheme principles and focuses on increasing the quality of and access to both maternal and perinatal healthcare. Compared with many community-based health insurance schemes, the ORI scheme is original because it is not based on risk pooling. For a pre-payment of 16–18 USD, women are covered during their pregnancy for antenatal care, skilled delivery, emergency obstetrical care [including caesarean section (C-section) and transfer] and a postnatal visit. The objective of this study is to evaluate the impact of ORI enrolment on maternal and child health services using data from the Multiple Indicator Cluster Survey (MICS) conducted in 2015. A total of 4172 women who delivered within the last 2 years before the interview were analysed. The effect of ORI enrolment on the outcomes was estimated using a propensity score matching estimation method. Fifty-eight per cent of the studied women were aware of ORI, and among these women, more than two-thirds were enrolled. ORI had a beneficial effect among the enrolled women by increasing the probability of having at least one prenatal visit by 13%, the probability of having four or more visits by 11% and the probability of giving birth at a healthcare facility by 15%. However, we found no effect on postnatal care (PNC), C-section rates or neonatal mortality. This study provides evidence that a voluntary pre-payment scheme focusing on pregnant women improves healthcare services utilization during pregnancy and delivery. However, no effect was found on PNC or neonatal mortality. Some efforts should be exerted to improve communication and accessibility to ORI.

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