Analysis of insurance contracts

Lecture Risk management and insurance - Lecture No 19: Analysis of insurance contracts. This chapter’s objectives are to: Basic parts of an insurance contract, definition of the “insured”, endorsements and riders, deductibles, coinsurance, other-insurance provisions.

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This chapter’s objectives are to: Major types of coverage, perils clause, deductibles, general average clause, sue-and-labor clause, abandonment, ocean transportation insurance, warranties in ocean marine insurance, express warranties,...

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Frauds in insurance are typically where a fraudster tries to gain undue benefit from the insurance contract by ignorance or wilful manipulation. Using the claims data in motor insurance obtained from a Mumbai based insurance company for the time period of 2010-2016, this study focuses on studying the pattern exhibited by those claims which have been rejected and accepted as well.

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Chapter 4 - Advanced topics in risk management. In this chapter we will discuss: The changing scope of risk management, enterprise risk management, insurance market dynamics, loss forecasting, financial analysis in risk management decision making, other risk management tools.

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Chapter 10 - Analysis of insurance contracts. This chapter is divided into several parts. First, the basic parts of an insurance contract are discussed in some detail. The difference between a named-perils policy and an open-perils policy (formerly called “allrisks”) should be made clear to the student.

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Chapter 21 - Homeowners insurance, section II. This chapter continues the discussion of the homeowners policy by an analysis of the Section II coverages in the homeowners policy by the Insurance Services Office. Once again, instructors will differ in their approach to teaching the material in this chapter.

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In some contracts with deductibles, the insurer pays the full claim then seeks reimbursement from the insured for the deductible portion of the contract. In some jurisdictions, such arrangements are also known as “large deductibles”. The resulting policy premium for such large deductible policies is expected to be smaller than if no deductible existed. Different accounting systems may choose to treat the premium reduction due to the deductible credit differently.

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Because larger firms are much more likely to be covered by collective bargaining contracts and works councils, a closely related issue concerns the independent role of firm size in providing wage insurance. As firm size is typically viewed as a good proxy for capital market access (e.g., Gertler and Gilchrist 1994), insurance contracts should be particularly apparent for individuals working at larger employers.

40p quaivatxanh 30-11-2012 57 6   Download

This potential disparity in availability of private insurance between regions and crops is sometimes cited as a reason for government intervention (U.S. GAO, 1980; Appel, Lord, and Harrington, 1999), but here again, crop insurance is not unique. Many risk management tools used by farmers are available only in certain regions. For example, cash forward contracting is widely available for corn and soybean producers in the Midwest, although the same is not necessarily true for producers in regions where basis risk is high.

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One of the reasons private crop insurance markets have not developed is the relatively low demand for crop insurance. Despite large subsidies in the United States, crop insurance participation historically has been relatively low. Farmers and ranchers use a variety of risk management strategies to mitigate the risks they face (Harwood, Heifner, Coble, Perry, and Somwaru, 1999; U.S. GAO, 1999), many of which compete with crop insurance. These include futures and options markets, contracting, cultural practices that reduce crop loss (e.g.

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The nature of annuities and their potential to be considered both insurance and in- vestment products complicated attempts during this study to differentiate annuities sold by insurance companies as insurance products from those annuities that qualify solely as investment products that happened to be sold by insurance companies. The SAR narratives reference annuities in the manner portrayed in Table 7.

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In writing this book we set out to modernize the teaching of bank management at universities and collegiate schools of business. Our goal is to expand the scope of the typical bank management course by (1) covering a broader, but still selective, variety of Wnancial institutions, and (2) explaining the why of intermediation, as opposed to simply describing institutions, regulations, and market phenomena. Our approach is unapologetically analytical, and we have tried to make analysis an appealing feature of this book....

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In large-scale engineering projects, millions of dollars in potential losses hinge on the integrity of each and every constituent part. When a loss event arises from defective design, materials, or workmanship, the design clause determines what is covered and what is not. A clear definition of these clauses is obviously critical, yet the standard wordings found in the marketplace are often confusing and misleading. An analysis of the two industry standard wordings - the London Market Defect Exclusion (DE) and Munich Re wordings - goes a long way toward sorting out the confusion.......

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