scholarly journals Life Insurance | Health Insurance | Property & Casualty Insurance

2015 ◽  
Vol 93 (49) ◽  
pp. 41
Keyword(s):  
Health Insurance ◽  
Life Insurance ◽  
Property Casualty

MODELING DEPENDENCE BETWEEN LOSS TRIANGLES WITH HIERARCHICAL ARCHIMEDEAN COPULAS

2015 ◽  
Vol 45 (3) ◽  
pp. 577-599 ◽  
Author(s):  
Anas Abdallah ◽  
Jean-Philippe Boucher ◽  
Hélène Cossette
Keyword(s):  
Life Insurance ◽  
Bootstrap Method ◽  
Dependence Structure ◽  
Insurance Company ◽  
Archimedean Copulas ◽  
Life Insurance Company ◽  
Critical Problems ◽  
Intuitive Interpretation ◽  
Property Casualty

AbstractOne of the most critical problems in property/casualty insurance is to determine an appropriate reserve for incurred but unpaid losses. These provisions generally comprise most of the liabilities of a non-life insurance company. The global provisions are often determined under an assumption of independence between the lines of business. Recently, Shi and Frees (2011) proposed to put dependence between lines of business with a copula that captures dependence between two cells of two different runoff triangles. In this paper, we propose to generalize this model in two steps. First, by using an idea proposed by Barnett and Zehnwirth (1998), we will suppose a dependence between all the observations that belong to the same calendar year (CY) for each line of business. Thereafter, we will then suppose another dependence structure that links the CYs of different lines of business. This model is done by using hierarchical Archimedean copulas. We show that the model provides more flexibility than existing models, and offers a better, more realistic and more intuitive interpretation of the dependence between the lines of business. For illustration, the model is applied to a dataset from a major US property-casualty insurer, where a bootstrap method is proposed to estimate the distribution of the reserve.

Insurability of the Pediatric Patient With Cardiac Disease

1988 ◽  
Vol 10 (4) ◽  
pp. 107-110
Author(s):  
Norman S. Talner
Keyword(s):  
Health Insurance ◽  
Pediatric Patient ◽  
Small Groups ◽  
Life Insurance ◽  
Cardiac Disease ◽  
Surgical Intervention ◽  
Insurance Industry ◽  
Cardiovascular Disorders ◽  
State Support ◽  
New Policies

This paper provides the pediatrician with suitable guidelines to counsel parents and their children when applying for life insurance. Knowledge of the natural and unnatural history, as influenced by surgical intervention of cardiovascular disorders in the child, has increased to the point where each condition for the most part can be critically defined as to severity and survival characteristics. This should lead to more uniform standards of insurability for this group of patients. The procurement of health insurance for individuals or small groups represents a continuing problem which will require new policies by the insurance industry or federal and/or state support.

Health, disability, and life insurance experiences of working-age persons with multiple sclerosis

2007 ◽  
Vol 13 (4) ◽  
pp. 534-546 ◽  
Author(s):  
LI Iezzoni ◽  
L. Ngo
Keyword(s):  
Multiple Sclerosis ◽  
Health Care ◽  
Health Insurance ◽  
Life Insurance ◽  
College Education ◽  
Employment Decisions ◽  
Public Programs ◽  
Considerable Difficulty ◽  
Telephone Interviews ◽  
Working Age

Working-age Americans with multiple sclerosis (MS) may face considerable financial insecurities when they become unable to work and lack the health, disability, and life insurance typically offered through employers. In order to estimate the rates of having these insurance policies, as well as how insurance status affects reports of financial stress, we conducted half-hour telephone interviews with 983 working-age persons across the US, who reported being diagnosed with MS. The interviews occurred from May through November 2005, and among the sampled individuals contacted and confirmed eligible, 93.2% completed the interview. The study population was largely female (78.9%), Caucasian (86.4%), married (68.6%), with at least some college education (71.5%), and unemployed (60.2%). Overall, 96.3% had some health insurance (40.3% with public health insurance, primarily Medicare), 56.7% had long-term disability insurance (36.4% with public programs), and 68.3% had life insurance. Notably, 27.4% indicated that, since being diagnosed with MS, health insurance concerns had significantly affected employment decisions. In addition, 16.4% reported considerable difficulty paying for health care, 27.4% put off or postponed seeking needed health care because of costs, and 22.3% delayed filling prescriptions, skipped medication doses, or split pills because of costs. Overall, 26.6% reported considerable worries about affording even basic necessities, such as food, utilities, and housing. Multiple Sclerosis 2007; 13: 534-546. http://msj.sagepub.com

Human Genetics and Financial Services. A Discussion Meeting with Supporting Papers

1997 ◽  
Vol 3 (5) ◽  
pp. 969-1058
Author(s):  
A.D. Wilkie ◽  
D.J. Le Grys ◽  
A.S. Macdonald ◽  
T.M. Ross ◽  
C.D. Daykin
Keyword(s):  
Health Insurance ◽  
Life Insurance ◽  
Financial Services ◽  
Royal Society ◽  
Human Genetics ◽  
Panel Discussion ◽  
Third Party ◽  
Scientific Communities ◽  
Joint Seminar ◽  
Royal Society Of London

The Profession held a joint seminar on ‘Human Genetics: Uncertainties and the Financial Implications Ahead’ with the Royal Society of London in September 1996. Papers submitted to that seminar included four from the profession and several from the medical, legal, social and scientific communities.This Sessional Meeting is designed to provide a forum for discussion amongst a wider actuarial audience. The topic is important to the profession, not only in relation to life insurance, but perhaps even more in relation to health insurance. The four papers by the actuarial authors are reproduced, together with a short third party summary of the whole seminar and a more detailed summary by C.D. Daykin of the actuarial, legal and social points raised in the discussions.The meeting takes the form of a panel discussion. Each of the panellists is to be invited to make introductory comments on their papers to update them where appropriate in the light of developments since September 1996 (for example the ABI statement) and will also suggest specific topics for discussion at the meeting. There is then an opportunity for members and guests to raise and debate all relevant issues.

scholarly journals Rate Making and Society's Sense of Fairness

1984 ◽  
Vol 14 (2) ◽  
pp. 151-163 ◽  
Author(s):  
G. W. de Wit ◽  
J. van Eeghen
Keyword(s):  
Risk Factors ◽  
Health Insurance ◽  
The Netherlands ◽  
Life Insurance ◽  
Fire Insurance ◽  
Solvency Requirements ◽  
Definition Of ◽  
Location Type ◽  
Premium Differentiation ◽  
Age And Sex

Actuaries have always been in search of ways to determine premiums which match the risks insured as closely as possible. They do this by differentiating between them on the basis of observable risk factors. In practice, many examples of such risk factors are being used: age and sex for life insurance; location, type of building etc. for fire insurance. Motor insurance is perhaps the most characteristic branch with respect to this phenomenon: in tariffs we find factors like weight, price or cylinder capacity of the car, age of the driver, area of residence, past claims experience (Bonus/Malus), annual mileage etc.Outsiders may not always be very positive about such a refined premium differentiation. The basis of insurance, they say, should be solidarity among insureds; premium differentiation is basically opposed to this. Another statement heard in the field is: “Premium differentiation ultimately results in letting every individual pay his own claims, it is the end of insurance”.Much confusion arises during discussions about this subject, especially between actuaries and non-actuaries. We will therefore first give a mathematical definition of solidarity, (Section 2), followed by a brief description of certain trends in society which might bring insurers to deliberately drop certain risk factors from their tariffs in order to increase solidarity (Section 3). The consequences of doing so are examined and it is shown that increased solvency requirements will in the end prove to be ineffective. A possible solution is a voluntary transfer of premium between companies (Section 4). The situation is illustrated by an example of health insurance in the Netherlands, where proposals to arrive at such transfeis are presently being discussed.

Combining Life and Health Insurance*

2019 ◽  
Vol 135 (2) ◽  
pp. 913-958 ◽  
Author(s):  
Ralph S J Koijen ◽  
Stijn Van Nieuwerburgh
Keyword(s):  
Health Insurance ◽  
Life Insurance ◽  
Survival Rates ◽  
Insurance Companies ◽  
Insurance Markets ◽  
Free Access ◽  
Access To Treatment ◽  
Term Care ◽  
Long Run ◽  
Premium Income

Abstract We estimate the benefit of life-extending medical treatments to life insurance companies. Our main insight is that life insurance companies have a direct benefit from such treatments because they lower the insurer’s liabilities by pushing the death benefit further into the future and raising future premium income. We apply this insight to immunotherapy, treatments associated with durable gains in survival rates for a growing number of cancer patients. We estimate that the life insurance sector’s aggregate benefit from FDA-approved immunotherapies is $9.8 billion a year. Such life-extending treatments are often prohibitively expensive for patients and governments alike. Exploiting this value creation, we explore various ways life insurers could improve stress-free access to treatment. We discuss potential barriers to integration and the long-run implications for the industrial organization of life and health insurance markets, as well as the broader implications for medical innovation and long-term care insurance markets.

scholarly journals Predictors of Health Insurance, Life Insurance, and Retirement Savings Among NYC’s Immigrant Taxi and For-Hire Vehicle Drivers

2020 ◽  
Vol 45 (6) ◽  
pp. 1098-1110
Author(s):  
Francesca Gany ◽  
Sheena Mirpuri ◽  
Soo Young Kim ◽  
Bharat Narang ◽  
Julia Ramirez ◽  
...  
Keyword(s):  
Health Insurance ◽  
Life Insurance ◽  
Retirement Savings

LIFE INSURANCE IN RUSSIA UNDER COVID-19 PANDEMIC

2021 ◽  
Vol 3 (9) ◽  
pp. 25-30
Author(s):  
B. A. DORONIN ◽  
◽  
Yu. E. KLISHINA ◽  
O. N. UGLITSKIKH ◽  
◽  
...  
Keyword(s):  
Health Insurance ◽  
Life Insurance ◽  
Financial Instability ◽  
Insurance Premiums ◽  
Insurance System ◽  
Crisis Situation ◽  
Current State ◽  
Compulsory Health Insurance

The situation related to the COVID-19 pandemic has clearly shown the financial instability of the economy and the need to provide insurance protection not only for property, but also for one's own life. The COVID-19 pandemic is a new phenomenon for the entire insurance system, so it is difficult to predict how it will work in these conditions. The article assesses the current state of compulsory health insurance, reflects the reasons that contribute to the more active use of voluntary insurance tools. The analysis of the dynamics of insurance premiums for the main types of insurance is carried out, the factors of the growth of the need to create addi-tional income and their subsequent accumulation in order to avoid the onset of a crisis situation are consid-ered.

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