scholarly journals Dynamic decision problems in an insurance company

1968 ◽  
Vol 5 (1) ◽  
pp. 118-131 ◽  
Author(s):  
Karl Borch

1.1. — In this paper we shall consider some of the decisions which have to be made in the normal course of business in an insurance company. We shall see that the “right” decisions can be found only when the problems are analysed in their proper dynamic context.As examples of the decision problems which we shall study, we can mention the following:(i) What premium rates should be quoted on the insurance contracts, which the company offers to the public?(ii) How much should the company spend to promote the sale of its policies?(iii) When should the company refuse to underwrite a proposed insurance contract?(iv) How shall the company reinsure its portfolio of insurance contracts?(v) What reserve funds should an insurance company keep?(vi) How shall the company's funds be invested?Any actuary will be familiar with such problems, and he will probably feel that these problems cannot be satisfactorily solved with the methods offered by the classical actuarial theory.1.2. — In some earlier papers [I] and [2] it has been argued that such problems can best be solved in the frame work of utility theory. As an illustration we shall take Problem (iii) in the preceding paragraph, and consider an insurance company in the following situation:(i) The company has a capital S.(ii) The company holds a portfolio of insurance contracts which will lead to a total payment of x to settle claims. F1(x) is the distribution of the variate x.

2020 ◽  
Vol 29 (1) ◽  
pp. 129
Author(s):  
Dominik J. Kościuk ◽  
Justyna Kulikowska-Kulesza

<p>The provisions of the Act on Access to Public Information regulate, among others, the subjective and objective scope of the right to public information, reasons for restricting access to information, procedure and form of disclosure, rules for creating and publishing information in the Public Information Bulletin, costs of activities leading to the disclosure of information and the establishment of complaint proceedings in the event of refusal to provide the public information requested. Therefore, it is worth to pay attention to several problems arising from the analysis of statutory provisions and the practical consequences of applying the Act of 6 September 2001 on Access to Public Information. The current, extremely extensive, output of doctrine and jurisprudence allows for a fairly “efficient” summary of the considerations made in both literature and judicial and administrative case law.</p>


Mathematics ◽  
2020 ◽  
Vol 8 (8) ◽  
pp. 1376
Author(s):  
Guglielmo D’Amico ◽  
Fulvio Gismondi ◽  
Filippo Petroni

This paper presents an insurance contract that the supplier of wind power may subscribe to with an insurance company in order to immunize his/her revenue against the volatility of wind power and prices. Based on empirical evidence, we found that wind power and electricity prices are correlated. Then, we adopted a joint stochastic process to model both time series, which is based on indexed semi-Markov chains for the wind power generation process and on a general Markovian process for the electricity price process. Using a joint stochastic model allows the insurance company to compute the fair premium that the wind power producer has to pay in order to hedge the risk against inadequate revenues. Recursive type equations are obtained for the prospective mathematical reserves of the insurance contract. The model and the validity of the results are illustrated through a real data application.


Author(s):  
Juana María GIL RUIZ

LABURPENA: Klaseen gatazka elementu giltzarria izan zen aurreko mendeko estatu soziala edo ongizate-estatua ulertzeko; XXI. mendeko mundu mailako krisia ulertzeko, ordea, genero-gatazka deiturikoa da elementu giltzarria, eta, zalantzarik gabe, aro berri honetako erronkak ezaugarritzen ditu. Artikulu honek bere egiten du genero-metodologia, eta, Europako nahiz estatuko araudiaren bilakaera- testuinguruan eta emakumeek lan-eremuan duten kokalekuaren diagnostikotik abiatuta, Espainiak ongizate-estatuaren krisiaren aurrean emandako erantzuna eta emakumeek hiritar diren heinean duten babesgabetasuna jorratzen dira. Era berean, hobetzeari begirako proposamen juridiko-politiko batzuk aurreratuko dira, ongizate-estatuaren egungo desoreketatik abiatuta, epe labur-ertainean herritarren gainera eroriko diren arrisku batzuk ahaztu gabe. Lege ferenda-ko proposamen horiek —ez esklusiboak, gutxi gorabeherakoak baizik—, bizi-dualismoa eta herritarren banaketa konpontzeari begirakoak, hein handi batean zentratuko dira kontziliazio‑eskubidea berreskuratzeko arloan, kontziliazio-eskubide horrek izan behar duen horretatik abiatuta: babes eta sustapen berezia behar dituen eremua da, murrizketarik edo luzamendurik onartzen ez duena. RESUMEN: Si el conflicto de clases fue un elemento clave para entender la existencia del Estado Social o de Bienestar en el siglo pasado, lo cierto es que el llamado conflicto de Género, lo es para la comprensión de la Crisis Global del siglo XXIi y enmarca, sin duda, los nuevos desafíos de esta nueva era. Este artículo hace suyo la metodología de género y aborda —en un contexto de evolución normativa europea y nacional y partiendo del diagnóstico de la posición de las mujeres en la esfera laboral—, la respuesta española ante la crisis del Estado de Bienestar y la desprotección de éstas en tanto que ciudadanas. Asimismo, se avanzarán algunas propuestas jurídico-políticas concluyentes y de mejora, partiendo de los desequilibrios actuales del Estado de Bienestar, sin obviar algunos de los peligros que se ciernen a corto-medio plazo sobre la ciudadanía. Estas propuestas de lege ferenda —no exclusivas sino aproximativas— dirigidas a resolver el dualismo vital y la brecha ciudadana, se centrarán en buena medida, en recuperar el derecho de conciliación como lo que debe ser: un ámbito que requiere de especial protección y promoción y que no es susceptible de recortes ni postergaciones. ABSTRACT: If the Class conflict was key for the understanding of the welfare state in the last century, the so-called Gender conflict has become fundamental for a similar understanding of the 21st century Global Crisis and its challenging consequences. This article supports the gender methodology and addresses —in the context of the evolution of national and European legislations on the basis of the women status in the labour market—, the Spanish response to the crisis of the welfare state and the lack of protection of women as citizens. In addition, insofar Spain must respond to the commitments made to Europe regarding the public agenda, some conclusive legal and political proposals and improvements will be made in this paper, based on the current imbalances of the welfare state, without neglecting some of the dangers in the short-medium term of the citizenship. These lege ferenda proposals —not comprehensive but rather approximate— are aimed at resolving the vital dualism and the citizenship gap. They will focus, to a great extent, on recovering the right of conciliation as what it should be: an area that requires special protection and promotion and which is not susceptible to cuts or any further delays.


2017 ◽  
Vol 6 (10) ◽  
pp. 39
Author(s):  
Dr. Nabeel Farhan Al Shatanawi

<p>The insured, in some cases the conclusion of more than a decade of insurance against risk of fire to more than insurance companies, so as to increase the total amount of insurance cover for the value of the money of the insured, what is the extent of commitment by all insurance companies to pay compensation when the risk of fire? This study sheds light on the position of the Jordanian legislature to demonstrate the shortcomings and imperfections in the drawback of legislative texts the issue of multiple insurance contracts from the fire, and realized the need to restore the Jordanian legislature consideration of this legislative regulation in terms of the need to distinguish between the insurer and the good faith and bad faith in the case of multiple insurance contracts and their impact on the right to obtain compensation when the danger, and the provisions of the commitment of the insured to notify the insurance company in multiple insurance contracts.             </p><p dir="rtl" align="center"> </p>


2018 ◽  
Vol 17 (1) ◽  
pp. 12-17
Author(s):  
V. Iu Semenov ◽  
S. A Leevshitc ◽  
K. Iu Lakunin

The awareness of population about essence of functioning of mandatory medical insurance system continues to be low. The purpose of study was analysis of opinions of residents of the Moscow oblast about this particular system. The sociological survey was carried out according standard technology using an original questionnaire. The public opinion was investigated among visitors of medical organizations in 2013 and 2017. According data of survey, the percentage of respondents with positive response to question concerning their awareness about the insurance company they are insured slightly increased in 2017. however, every thirteenth respondent responded negatively to this question. Only every sixth respondent addresses to the insurance company in case of occurrence of problems with medical care support. According data of both surveys, the right of choosing insurance company, medical organization and physician was applied only by 17% and 22% respondents correspondingly. In 2013, 20% of respondents addressed nowhere because of absence of problems in case of receiving medical care support. In 2017, a significant increase of addressing to administrations of medical organizations was established. Also, number of addressing to insurance medical organizations and foundations of mandatory medical insurance increased up to 13% and 27% correspondingly. The percentage of respondents that responded positively to question about unofficial compulsion to pay for medical services during four years decreased on 18% and made up to 12.6% out of 709 participants of survey. Thereby, from one hand activities related to informing population about occurring changes in health care system, including broadening of rights of citizen is not enough. From the other hand, citizen in number of cases have no interest in receiving necessary information and ignore it even including title of insurance medical company mentioned in mandatory medical insurance policy.


CICES ◽  
2017 ◽  
Vol 3 (1) ◽  
pp. 35-47
Author(s):  
Faisal Rudiansyah Hamzah ◽  
Panji Wira Soma ◽  
Indri Rahmawati

With the development of information technology in particular in the field of multimedia in such rapid and the longer forms of media information more diverse so that more education institutions boast. Media information and promotion is currently used by SMK PGRI 11 Ciledug Tangerang. The purpose of this research audio visual media into the media information and proper promotion, by controlling hearing and vision in the form of audio visual in order to convey messages can be understood by the public at large. Existing problems, namely the medium used by the SMK PGRI 11 Ciledug Tangerang still use print media such as banners, posters and pamplet are considered less effective and efficient to use while simultaneously promoting the institutions with the best possible audio visual media so that it is selected into a medium of information and promotion of the right, by controlling hearing and vision in the form of audio visual. Because therein lies the message delivery process or how to visualize. At the same time listening and showing the contents of the message to the recipient with information through media menunjangnya, so the design of video media profile that displays the entire scope, advantages and facilities belonging to SMK PGRI 11 Ciledug Tangerang, can be a solution in solving problems in media promotion and information. With this study the author makes with the title "promotion and INFORMATION AUDIO VISUAL MEDIA SHAPED VIDEO PROFILE on SMK PGRI 11 APPLICATIONS TANGERANG CITY ".


2020 ◽  
Vol 2 (1) ◽  
Author(s):  
Gagah Yaumiyya Riyoprakoso ◽  
AM Hasan Ali ◽  
Fitriyani Zein

This study is based on the legal responsibility of the assessment of public appraisal reports they make in land procurement activities for development in the public interest. Public assessment is obliged to always be accountable for their assessment. The type of research found in this thesis is a type of normative legal research with the right-hand of the statue approach and case approach. Normative legal research is a study that provides systematic explanation of rules governing a certain legal category, analyzing the relationship between regulations explaining areas of difficulty and possibly predicting future development. . After conducting research, researchers found that one of the causes that made the dispute was a lack of communication conducted between the Government and the landlord. In deliberation which should be the place where the parties find the meeting point between the parties on the magnitude of the damages that will be given, in the field is often used only for the delivery of the assessment of the compensation that has been done.


2019 ◽  
Vol 11 (4) ◽  
pp. 45
Author(s):  
Cristina Lafont

In this essay I address the difficult question of how citizens with conflicting religious and secular views can fulfill the democratic obligation of justifying the imposition of coercive policies to others with reasons that they can also accept. After discussing the difficulties of proposals that either exclude religious beliefs from public deliberation or include them without any restrictions, I argue instead for a policy of mutual accountability that imposes the same deliberative rights and obligations on all democratic citizens. The main advantage of this proposal is that it recognizes the right of all democratic citizens to adopt their own cognitive stance (whether religious or secular) in political deliberation in the public sphere without giving up on the democratic obligation to provide reasons acceptable to everyone to justify coercive policies with which all citizens must comply.


2019 ◽  
Vol 25 (2) ◽  
pp. 197-201
Author(s):  
Tudor-Vlad Sfârlog

Abstract The present study offers the doctrine of the right of intellectual creation new perspectives on the study of the institution of termination of the assignment contract for the patrimonial rights resulting from the intellectual creation. We believe that the present study is rich in doctrinal contributions, formulating new theses and opening the prospect for new perspectives of scientific research. Last but not least, we appreciate that the proposals made in the present study contribute not only to the activity of opinionated in the field, but also to the work of practitioners and direct beneficiaries of the legal provisions on the assignment of patrimonial rights of authors.


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