Model of short-term insurance of independent environmental risks

2021 ◽  
Author(s):  
I. V. Sukhorukova ◽  
N. A. Chistyakova
Keyword(s):  
Environmental Risks ◽  
Short Term ◽  
Term Insurance

scholarly journals The continuous market cycle of the short term insurance industry

2012 ◽  
Vol 2 (1) ◽  
pp. 22-29
Author(s):  
Liezel Essel ◽  
Frederik J. Mostert ◽  
Jan Hendrik Mostert
Keyword(s):  
South Africa ◽  
Insurance Industry ◽  
Emerging Market ◽  
Literature Study ◽  
Short Term ◽  
Financial Decision Making ◽  
Empirical Survey ◽  
Term Insurance ◽  
Financial Decision ◽  
The Impact

The short-term insurance industry is a cyclical type of business due to the impact of the continuous market cycle. This cycle has a growth phase, soft market phase, hard market phase and a break-even phase. The objective of the research paper focuses on the improvement of financial decision-making when executives of the short-term insurance industry are managing their business during the various phases of the continuous market cycle. Both a literature study and an empirical survey were necessary to achieve the research objective. The empirical survey included the contributions of the top nine commercial and corporate short-term insurers in South Africa. They represented more than 77% of the total gross written premiums in 2009 and can thus be considered as the leaders of the short-term insurance industry in this country. The conclusions of the study should be valuable to other developing countries with emerging market economies as South Africa is also classified as such. The study focused on the various factors which may cause the continuous market cycle, the problem areas which the executives experience concerning the continuous market cycle, and how often various factors are adjusted by the short-term insurers to account for changes in the continuous market cycle.

scholarly journals The claims handling process of property insurance in South Africa

2011 ◽  
Vol 8 (4) ◽  
pp. 155-164
Author(s):  
D Naudé ◽  
Frederik J. Mostert ◽  
Jan Hendrik Mostert
Keyword(s):  
South Africa ◽  
Emerging Market ◽  
Literature Study ◽  
Short Term ◽  
Property Insurance ◽  
Financial Decision Making ◽  
Empirical Survey ◽  
Term Insurance ◽  
Financial Decision ◽  
Main Factors

Property insurance is the second largest class of short-term insurance in South Africa. As South Africa is a developing country and has an emerging market economy, the conclusions of this paper, which are based on a literature study and an empirical survey, should accordingly also be valuable to short-term insurers in other countries with emerging market economies. The objective of this research paper endeavors to improve financial decision-making relating to the claims handling process of property insurance. It therefore focuses on the insurance of buildings, the contents of buildings, as well as all-risks insurance. After paying attention to the main factors, necessary to contemplate in the claims handling process of each of the three types of subject matter, the applicable problem areas and the effectiveness of the short-term insurers who participate in the empirical survey, are addressed.

scholarly journals Dynamic Prevention in Short-Term Insurance Contracts

2008 ◽  
Vol 75 (2) ◽  
pp. 289-312 ◽  
Author(s):  
M. Martin Boyer ◽  
Karine Gobert
Keyword(s):  
Short Term ◽  
Insurance Contracts ◽  
Term Insurance

scholarly journals The claims handling process of engineering insurance in South Africa

2015 ◽  
Vol 5 (2) ◽  
pp. 15-21
Author(s):  
Johan de Beer ◽  
Frederik J. Mostert ◽  
Jan Hendrik Mostert
Keyword(s):  
South Africa ◽  
Negative Impact ◽  
Secondary Data ◽  
Insurance Market ◽  
Primary Data ◽  
Short Term ◽  
Empirical Survey ◽  
Term Insurance ◽  
Technological Developments ◽  
Engineering Insurance

Due to technological developments, the complicated world of engineering and its associated products are continuously becoming more specialized. Short-term insurers provide engineering insurance to enable the owners and operators of engineering assets to combat the negative impact of the associated risks. It is, however, a huge challenge to the insurers of engineering insurance to manage the particular risks against the background of technological enhancement. The skills gap in the short-term insurance market and the engineering environment may be the main factor which inhibits the growth of the engineering insurance market. The objective of this research embodies the improvement of financial decision-making concerning the claims handling process of engineering insurance. Secondary as well as primary data were necessary to achieve the stated objective. The secondary data provided the background of the research and enabled the researchers to compile a questionnaire for the empirical survey. The questionnaire and a cover letter were sent to the top 10 short-term insurers in South Africa that are providing engineering insurance. Their perceptions should provide guidelines to other short-term insurers who are engaged in engineering insurance, as they are regarded as the market leaders of engineering insurance in South Africa. The empirical results of this research focus on the importance of various claims handling factors when assessing the claims handling process of engineering insurance, the problem areas in the claims handling process concerned, as well as how often the stipulations of engineering insurance policies are adjusted to take the claims handling factors into account.

scholarly journals Towards better mitigation technologies for invasive wasps Vespula spp

2009 ◽  
Vol 62 ◽  
pp. 395-395
Author(s):  
M. Brownbridge ◽  
R. Toft ◽  
J. Rees ◽  
T.L. Nelson ◽  
C. Bunt
Keyword(s):  
Feeding Habits ◽  
Control Agent ◽  
Environmental Risks ◽  
Fungal Treatment ◽  
Short Term ◽  
Conservation Areas ◽  
Vespula Vulgaris ◽  
Wilderness Areas ◽  
Protein Bait ◽  
Limit Access

Exotic social insects are a major threat to New Zealands natural and agroecosystems Social wasps (Vespula vulgaris V germanica) in particular have had devastating effects in native forests and have displaced indigenous fauna through their predatory and polyphagous feeding habits High nest densities also limit access to and use of wilderness areas Insecticidal baits can reduce wasp populations for the short term on a local scale but contain potent toxins that pose environmental risks Novel baiting technologies are urgently needed by DOC and Regional Councils for use in conservation areas Baits must be palatable to Vespula spp and enable prolonged delivery of an efficacious yet selective control agent to the nest Using appropriate preservatives and humectants the field life of a protein bait was extended to 4 days without compromising its acceptance by foraging wasps Incorporation of waspactive isolates of Metarhizium anisopliae and Beauveria bassiana into the baits did not affect their attractiveness to wasps; nest traffic rates were significantly reduced by the Metarhizium treatment and infected larvae were recovered from nests exposed to each fungal treatment demonstrating the potential utility of this approach in a wasp mitigation strategy

scholarly journals The influence of length of relationship, gender and age on the relationship intention of short-term insurance clients: an exploratory study

2011 ◽  
Vol 11 (2) ◽  
pp. 139-156 ◽  
Author(s):  
Derik Steyn ◽  
Pierre Mostert ◽  
Jan-Willem De Jager
Keyword(s):  
Relationship Marketing ◽  
Strong Relationship ◽  
Short Term ◽  
Gender And Age ◽  
Term Insurance ◽  
Length Of Relationship ◽  
Gender Display ◽  
The Relationship ◽  
Different Levels

Building long-term relationships with clients is extremely beneficial for organisations. This does not necessarily imply, however, that the clients themselves need or want a long-term relationship with an organisation. Relationship marketing could profitably be looked at from the client’s perspective, at the same time identifying those clients who have a strong relationship intention and would, in fact, like to engage in a long-term relationship with organisations.The objective of this research was to explore whether three aspects relating to clients, that is, the varying lengths of their relationship with organisations, their age and their gender display significantly different levels of relationship intention. Relationship intention is measured in terms of constructs like involvement, expectations, forgiveness, feedback and fear of relationship loss.Non-probability sampling was used in this study, and 114 respondents from the short-terminsurance industry completed self-administered questionnaires. Findings indicate that, for a group of high relationship-intention clients of a short-term insurance organisation, no practically significant discrimination exists on any of the relationship-intention constructs for clients’ length of relationship, gender or age.

Bühlmann & Bühlmann-Straub Credibility for Extreme Claims Applied on Non-Life Egyptian Insurance Market: An Actuarial Approach

2019 ◽  
Vol 10 (10) ◽  
pp. 992-1002
Author(s):  
Mahmoud Elsayed ◽  
◽  
Amr Soliman ◽  
Keyword(s):  
Linear Function ◽  
Extreme Events ◽  
Insurance Industry ◽  
Real Data ◽  
Insurance Market ◽  
Credibility Theory ◽  
Short Term ◽  
Insurance Premiums ◽  
Term Insurance ◽  
Actuarial Approach

Credibility theory is an actuarial approach used to calculate the short term insurance premiums. The aim of this article is to calculate the credibility premium based on real data from non-life Egyptian insurance industry during 10 years period (2006 to 2015), taking into consideration the amount of incurred claims from six insurance branches and the number of extreme losses in each branch. The analysis was based on the assumptions of Bühlmann and Bühlmann-Straub credibility models in order to estimate the net credible premium for the upcoming year as a linear function of the prior claims and the number of extreme events.

scholarly journals A Short Note on Overall Risk Management in an Insurance Concern

1971 ◽  
Vol 6 (2) ◽  
pp. 153-156 ◽  
Author(s):  
Karl Borch
Keyword(s):  
Short Note ◽  
Insurance Contract ◽  
Short Term ◽  
Term Contract ◽  
Term Insurance ◽  
Short Term Contract ◽  
Proper Perspective ◽  
Image Position ◽  
Sound Foundation

1. At an earlier ASTIN Colloquium participants were invited to present notes on problems which they considered as important but unsolved. There was little response to this invitation, presumably because a problem, once it is well formulated, is almost solved.In this Note I do not present any new problems. In stead I try to outline a framework which may be useful for analysing different risk problems and seeing them in their proper perspective. In my view, a framework of this kind is urgently needed to place today's actuarial work on a sound foundation.2. In general an insurance contract will define two stochastic processes. We lose little by assuming that the processes are discrete, and describing them in the following manner:(i) The payment process: x0, x1 … xt …, where xt is the amount which the company pays to settle claims in period t, or at time t.(ii) The premium process: p0, p1 … pt …, where pt is the premium which the company receives in period t, or at time t.If the contract is concluded at time t = o, the Principle of Equivalence requires thatFor the typical short-term contract with premium payable in advance (i) will reduce to3. For a long-term insurance contract one usually requires that the inequalityshall hold for all τ. This means that the company must never be a net creditor of its customer.

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