A practitioners approach to individual claims models for bodily injury claims in german non-life insurance

The aim of our paper is to discuss the difficulties non-life actuaries are currently facing from a practical point of view. Based on this, we show that individual claims models are the key to address these difficulties and discuss how such models give actuaries a new and very powerful tool to explore further fields of application. Moreover, we address a very essential question: What data is needed for developing individual claims models? For bodily injury claims in German motor liability insurance, we shall derive specific attributes based on a detailed discussion of the legal background. All our ideas are based on practical experience for a large German motor insurance portfolio.

Corporate Diversification, Ownership, and Solvency in China’s Property-Liability Insurance Companies

Solvency is the premise of the sustainable management of insurance companies. Among factors that affect the solvency of insurance companies, diversification strategy is one that cannot be ignored. To study the impact of diversification on the solvency of property-liability insurance companies and how diversification will influence companies with different ownership, this paper adopts the dynamic panel GMM model and the unbalanced panel data from 2009 to 2015. The analysis is from two dimensions: product diversification and geographic diversification. Empirical study shows that product diversification will increase the solvency of Chinese-funded property-liability insurance companies but reduce the solvency of foreign-funded ones. As for the impact of geographic diversification on solvency, the more geographically diversified the premium income of Chinese-funded property-liability insurance companies are, the lower their solvency will be. However, geographical expansion has no significant solvency-related impact on foreign-funded property-liability insurance companies in China.

Cost stickiness and the firm’s organizational form: evidence from the property-liability insurance sector

We examine the existence of cost stickiness in the German property-liability insurance sector by analyzing if the percentage increase in administrative costs for a rise in premiums is larger than the percentage decrease in administrative costs for an equivalent drop in premiums. In addition, we analyze if sticky cost behavior depends on insurance firms’ organizational form. Using company-level data from German property-liability insurance firms for the years 2001–2017 and regression analyses, we find that administrative costs are sticky in the insurance sector, as administrative costs increase on average 0.82% per 1% increase in premiums but decrease only 0.6% per 1% decrease in premium income. Moreover, we find that stock insurers exhibit lower levels of cost stickiness, indicating better monitoring mechanisms.

NEED AND REASONS FOR INSURANCE OF NOTARY PUBLICS DURING NOTARY ACTIVITY

In this paper, the authors investigate the needs and reasons for securing notaries when performing notary activities. The paper should investigate and answer, what is the interest of the state, notaries and parties, in connection with performing notarial activity, legal basis and manner of conducting professional liability insurance of notaries, determining the amount of the insured case, the occurrence of the insured case, comparative legal solutions rights. The paper deals with persons who are participants in insurance (insured, insurer, injured party and other persons covered by insurance), the concept and subject of insurance, in this case professional liability insurance, the risk it carries, protection of the injured party and protection of property.

Purchase of a Leased Vehicle by a User Who Has Concluded a Motor Third Party Liability Insurance Contract

The article focuses on the interpretation of Article 31(1) of the Act on Compulsory Insurance, the Insurance Guarantee Fund and the Polish Bureau of Motor Insurers as regards legal consequences of the purchase of a vehicle by its user in the performance of the leasing contract, with the user having previously taken out a motor third party liability insurance. The article contains a polemical analysis of the position of the Polish Financial Supervision Authority of 11 February 2021.