scholarly journals Prediction region for average claim occurrence rate and average claim size in motor insurance

2021 ◽  
Vol 36 ◽  
pp. 01009
Author(s):  
Wei Yeing Pan ◽  
Huei Ching Soo ◽  
Ah Hin Pooi
Keyword(s):  
Conditional Distribution ◽  
Third Party ◽  
Occurrence Rate ◽  
Categorical Variables ◽  
Claim Size ◽  
Binary Variables ◽  
The Third ◽  
Prediction Region ◽  
Motor Insurance ◽  
Insurance Data

The third-party motor insurance data from Sweden for 1977 described by Andrews and Herzberg in 1985 contain average claim occurrence rate (Pc) , average claim size (Ca) for category of vehicles specified by the kilometres travelled per year (K), geographical zone (Z), no claims bonus (B) and make of car (M). The categorical variables Z and M may first be represented respectively by the vectors (Z1, Z2, … , Z6) and (M1, M2, … , M8) of binary variables. The variable (Pc, Ca) is next modelled to be dependent on X∗ = (K, Z1, Z2, … , Z6, B, M1, M2, … , M8) via a conditional distribution which is derived from an 18-dimensional powernormal distribution. From the conditional distribution, a prediction region for (Pc, Ca) can be obtained to provide useful information on the possible ranges of average claim occurrence rate and average claim size for a given category of vehicles.

scholarly journals Subrogation of the Guarantee Fund and liability of the persons failing to take out mandatory insurance: an endorsement of the prevailing opinion of Portuguese courts

2019 ◽  
Vol 4 (2019/4) ◽  
Keyword(s):  
Case Law ◽  
Third Party ◽  
The Third ◽  
Current Trends ◽  
Motor Insurance ◽  
The Third Party

The paper discusses the problem of subrogation of the Guarantee Fund, especially in a case when a person who failed to take out the third-party liability motor insurance was not liable for the accident. The author presents current trends in Portuguese case-law on this matter and examines whether the Guarantee Fund should be entitled to claim the redress.

scholarly journals FACTORS INFLUENCING THE CHOICE OF THIRD PARTY LIABILITY MOTOR INSURANCE AMONG ACADEMIC STAFF IN LAGOS STATE, NIGERIA.

2018 ◽  
Vol 1 (1) ◽  
pp. 210-220
Author(s):  
Sewhenu Francis DANSU ◽  
Olufemi Adebowale ABASS ◽  
Yeside Abiodun OYETAYO
Keyword(s):  
Academic Staff ◽  
Study Data ◽  
Third Party ◽  
Insurance Policy ◽  
Tertiary Institutions ◽  
The Third ◽  
Lagos State ◽  
Motor Insurance ◽  
The Third Party ◽  
Major Factors

The coverage of the Third Party Liability (TPL) motor insurance is limited when compared with the third party liability, fire & theft and comprehensive coverage. Notwithstanding this limitation, vehicle owners seem to still prefer the third party liability motor insurance policy. This study seeks to identify the major factors responsible for this sentiment. 300 academic staff across five tertiary institutions in Lagos were engaged in this study. Data were gathered with the use of structured questionnaire, 146 copies of the questionnaires were duly completed and found useful for the study. The data were analysed by conducting factor analysis and testing three hypotheses using correlation analysis with the aid of Statistical Package for Social Sciences (SPSS), version 20. The study found significant positive relationship existing between family size, price of insurance, number of vehicles owned and marital status and the choice of TPL motor insurance policy among academic staff of higher institutions in Lagos State. The findings of the study reflected that TPL motor insurance is preferred because it is cheap and its purchase will not mainly hinder the attainment of the needs of any family members. It is recommended that safety of life and properties other than price of motor insurance should be considered when making motor insurance policy choice and that there is need to review the law of motor insurance with the aim of expanding the mandatory minimum coverage to cater for the life and properties of the insured.

Resolving tension from the third-party forgiveness effect

2014 ◽  
Author(s):  
Jaclyn M. Moloney ◽  
Chelsea A. Reid ◽  
Jody L. Davis ◽  
Jeni L. Burnette ◽  
Jeffrey D. Green
Keyword(s):  
Third Party ◽  
The Third ◽  
The Third Party

Issues in security and privacy of big data

2018 ◽  
Vol 7 (12) ◽  
pp. 1
Author(s):  
Shaveta Bhatia
Keyword(s):  
Cloud Computing ◽  
Big Data ◽  
Approximate Method ◽  
Biomedical Research ◽  
Cyber Security ◽  
Data Science ◽  
Third Party ◽  
Security And Privacy ◽  
Security Threats ◽  
The Third

 The epoch of the big data presents many opportunities for the development in the range of data science, biomedical research cyber security, and cloud computing. Nowadays the big data gained popularity.  It also invites many provocations and upshot in the security and privacy of the big data. There are various type of threats, attacks such as leakage of data, the third party tries to access, viruses and vulnerability that stand against the security of the big data. This paper will discuss about the security threats and their approximate method in the field of biomedical research, cyber security and cloud computing.

Brokering Peace in Nuclear Environments

2018 ◽  
Author(s):  
Moeed Yusuf
Keyword(s):  
Cold War ◽  
Third Party ◽  
Bargaining Theory ◽  
The Third ◽  
China And India ◽  
International Setting ◽  
Multiple Audiences ◽  
Crisis Behavior ◽  
The Cold War ◽  
Shed Light

This book is the first to theorize third party mediation in crises between regional nuclear powers. Its relevance flows from two of the most significant international developments since the end of the Cold War: the emergence of regional nuclear rivalries; and the shift from the Cold War’s bipolar context to today’s unipolar international setting. Moving away from the traditional bilateral deterrence models, the book conceptualizes crisis behavior as “brokered bargaining”: a three-way bargaining framework where the regional rivals and the ‘third party’ seek to influence each other to behave in line with their crisis objectives and in so doing, affect each other’s crisis behavior. The book tests brokered bargaining theory by examining U.S.-led crisis management in South Asia, analyzing three major crises between India and Pakistan: the Kargil conflict, 1999; the 2001-02 nuclear standoff; and the Mumbai crisis, 2008. The case studies find strong evidence of behavior predicted by the brokered bargaining framework. They also shed light on several risks of misperceptions and inadvertence due to the challenges inherent in signaling to multiple audiences simultaneously. Traditional explanations rooted in bilateral deterrence models do not account for these, leaving a void with serious practical consequences, which the introduction of brokered bargaining seeks to fill. The book’s findings also offer lessons for crises on the Korean peninsula, between China and India, and between potential nuclear rivals in the Middle East.

Relaxations of Contractual Privity and the Need for Third Party Rights in Chinese Contract Law

2018 ◽  
Author(s):  
Chen Lei
Keyword(s):  
Direct Action ◽  
Contract Law ◽  
Third Party ◽  
Chinese Law ◽  
The Third ◽  
Right Of Action ◽  
The Law ◽  
The Third Party ◽  
The Right

This chapter examines the position of third party beneficiaries in Chinese law. Article 64 of the Chinese Contract Law states that where a contract for the benefit of a third party is breached, the debtor is liable to the creditor. The author regards this as leaving unanswered the question of whether the thirdparty has a right of direct action against the debtor. One view regards the third party as having the right to sue for the benefit although this right was ultimately excluded from the law. Another view, supported by the Supreme People’s Court, is that Article 64 does not provide a right of action for a third party and merely prescribes performance in ‘incidental’ third party contracts. The third view is that there is a third party right of action in cases of ‘genuine’ third party contracts but courts are unlikely to recognize a third party action where the contract merely purports to confer a benefit on the third party.

Formation of Contract and Third Parties in Cambodia

2018 ◽  
Author(s):  
Ly Tayseng
Keyword(s):  
Academic Writing ◽  
Case Law ◽  
Civil Code ◽  
Third Parties ◽  
Third Party ◽  
The Third ◽  
Contract Formation ◽  
The Law ◽  
The Right ◽  
Formal Requirements

This chapter gives an overview of the law on contract formation and third party beneficiaries in Cambodia. Much of the discussion is tentative since the new Cambodian Civil Code only entered into force from 21 December 2011 and there is little case law and academic writing fleshing out its provisions. The Code owes much to the Japanese Civil Code of 1898 and, like the latter, does not have a requirement of consideration and seldom imposes formal requirements but there are a few statutory exceptions from the principle of freedom from form. For a binding contract, the agreement of the parties is required and the offer must be made with the intention to create a legally binding obligation and becomes effective once it reaches the offeree. The new Code explicitly provides that the parties to the contract may agree to confer a right arising under the contract upon a third party. This right accrues directly from their agreement; it is not required that the third party declare its intention to accept the right.

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