|
on Insurance Economics |
|
Issue of 2008‒08‒21
four papers chosen by Soumitra K Mallick Indian Institute of Social Welfare and Bussiness Management |
| By: | Cristea, Mirela |
| Abstract: | Taking into account the actual economic situation of the world with numerous financial crisis, the insurance companies should control their financial stability in order to avoid the insolvency or even bankruptcy state. Thus, the insurers should find the adequate methods of substantiating the premium installments, the adequate ways of attracting insurances in order to achieve the right structure of the portfolio and the desired level of financial stability within the company. The present paper proposes mathematical calculation, through which different solution may be given in order to optimize insurance portfolio, determining thus its adequate structure to a certain level of stability planned by the company. The result of elaborated studies and analysis represents an useful instrument for the insured persons, being able to choose the right type of insurance, resting on its comparisons, analysis and conclusions, and for the insurance companies, being meant to improve their subscription and investment activity, as well as the financial stability. The mathematical calculation shown within this paper may be applied in practice and improved. |
| Keywords: | insurance; financial stability; optimize subscription portfolio; mathematical calculation |
| JEL: | G14 G22 |
| Date: | 2008–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:10067&r=ias |
| By: | Cristea, Mirela |
| Abstract: | Taking into account the actual economic situation of the world with numerous financial crisis, the insurance companies should control their financial stability in order to avoid the insolvency or even bankruptcy state. Thus, the insurers should find the adequate methods of substantiating the premium installments, the adequate ways of attracting insurances in order to achieve the right structure of the portfolio and the desired level of financial stability within the company. The present paper proposes mathematical calculation, through which different solution may be given in order to optimize insurance portfolio, determining thus its adequate structure to a certain level of stability planned by the company. The result of elaborated studies and analysis represents an useful instrument for the insured persons, being able to choose the right type of insurance, resting on its comparisons, analysis and conclusions, and for the insurance companies, being meant to improve their subscription and investment activity, as well as the financial stability. The mathematical calculation shown within this paper may be applied in practice and improved. |
| Keywords: | insurance; financial stability; optimize subscription portfolio; mathematical calculation. |
| JEL: | G22 C65 L20 |
| Date: | 2008–08–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:10052&r=ias |
| By: | Dwight Jaffee; Howard Kunreuther; Erwann Michel-Kerjan |
| Abstract: | This paper proposes long-term insurance (LTI) as an alternative to the standard annual homeowners policy using lessons from the mortgage market as a benchmark. LTI has the potential to significantly increase social welfare by reducing insurers’ administrative costs, lowering search costs and uncertainty for consumers and providing incentives for long-term investment in mitigation measures to protect property. A two-period model illustrates situations that would make a long-term contract attractive to both insurers and consumers under competitive market conditions. |
| JEL: | G1 G2 G22 |
| Date: | 2008–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:14210&r=ias |
| By: | Randall D. Cebul; James B. Rebitzer; Lowell J. Taylor; Mark Votruba |
| Abstract: | Many goods and services can be readily provided through a series of unconnected transactions, but in health care close coordination over time and within care episodes improves both health outcomes and efficiency. Close coordination is problematic in the US health care system because the financing and delivery of care is distributed across a variety of distinct and often competing entities, each with its own objectives, obligations and capabilities. These fragmented organizational structures lead to disrupted relationships, poor information flows, and misaligned incentives that combine to degrade care quality and increase costs. We illustrate our argument with examples taken from the insurance and the hospital industries, and discuss possible responses to the problems resulting from organizational fragmentation. |
| JEL: | D2 I11 I12 I18 |
| Date: | 2008–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:14212&r=ias |