The Lincoln National Life Insurance Co v Sun Life Assurance Co of Canada and Ors

2004 ◽  
Vol 2004 (1) ◽  
pp. 423-445
Author(s):  
J Toulson
Keyword(s):  
Life Insurance ◽  
Life Assurance ◽  
National Life

Some Account of the French General and National Life Insurance Companies

1876 ◽  
Vol 19 (06) ◽  
pp. 435-445
Keyword(s):  
Life Insurance ◽  
Preceding Paper ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Life Assurance ◽  
Similar Series ◽  
National Life

M. Philip de Bosredon, Manager of the FrenchGeneralLife Insurance Company, having kindly furnished us with the printed reports of that company for a series of years, and Mr. George W. Kilford having sent us a similar series of reports of the FrenchNational, it appeared to us that a notice of these reports would be of great interest to the readers of theJournalin connection with the preceding paper. We have therefore drawn up the following account of the companies, with the assistance of Mr. J. J. W. Deuchar, of theStandardLife Assurance Company, to whom is due the whole credit of preparing the various statistical tables.—ED.J. I. A.

Eksistensi Fatwa No.21/DSN-MUI/X/2001 Pada Asuransi Jiwa Syariah di PT. Prudential Life Assurance Cabang Ponorogo

2021 ◽  
Vol 1 (1) ◽  
pp. 61-73
Author(s):  
Linda Pertiwi ◽  
Atik Abidah
Keyword(s):  
Data Collection ◽  
Qualitative Methods ◽  
Life Insurance ◽  
Field Research ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Life Assurance ◽  
Deductive Method ◽  
Investment System ◽  
Islamic Insurance

This article aims to review the implementation of Fatwa No. 21 / DSN-MUI / X / 2001 concerning General Guidelines for Sharia Insurance in Insurance Institutions. Sharia life insurance is a type of life insurance whose application is based on the provisions of Islam. PT. Prudential Life Assurance is a sharia life insurance company. In carrying out its activities to develop customer funds, PT. Prudential Life Assurance invests. In practice, the investment and insurance percentage determination is carried out unilaterally by the agent. Determining the percentage of this investment will affect customers' cash value claims that do not match the illustration. More specifically, in this connection, the author will analyze two aspects. First, the analysis of Fatwa No.21 / DSN-MUI / X / 2001 regarding the General Guidelines for Islamic Insurance on the implementation of the investment system at PT. Prudential Life Assurance Ponorogo Branch? Second, the analysis of Fatwa No.21 / DSN-MUI / X / 2001 regarding the General Guidelines for Islamic Insurance on the payment of cash value claims for customers at PT. Prudential Life Assurance Ponorogo Branch? The author's type of research is field research using qualitative methods, while the data collection techniques used are interviews and documentation. The analysis used uses the deductive method, namely a discussion that begins with presenting arguments, theories or provisions that are general and then put forward a specific fact. From this research, it can be concluded that the implementation of the investment system at PT. Prudential Life Assurance at the Ponorogo branch is only limited to administration. Where the agent determines the percentage of insurance and investment unilaterally to get a hefty fee, this is not following the DSN fatwa No.21 / DSN-MUI / X / 2001, which reads "investment must be made under sharia." Meanwhile, regarding the payment of cash value claims from customers that do not match the illustration, it follows the DSN fatwa No.21 / DSN-MUI / X / 2001, which reads "different claims in the amount according to the premium paid."Artikel ini bertujuan untuk mengkaji implementasi Fatwa No. 21/DSN-MUI/X/2001 tentang Pedoman Umum Asuransi Syariah Pada Lembaga Perasuransian. Asuransi jiwa syariah adalah jenis asuransi jiwa yang penerapannya berdasarkan ketentuan Islam. PT. Prudential Life Assurance adalah perusahaan asuransi jiwa syariah. Dalam menjalankan kegiatannya untuk mengembangkan dana nasabah, PT. Prudential Life Assurance berinvestasi. Dalam praktiknya, penentuan persentase investasi dan asuransi dilakukan secara sepihak oleh agen. Penetapan persentase investasi ini akan mempengaruhi klaim nilai tunai nasabah yang tidak sesuai dengan ilustrasi. Lebih khusus lagi, dalam hubungan ini, penulis akan menganalisis dua aspek. Pertama, analisis Fatwa No.21/DSN-MUI/X/2001 tentang Pedoman Umum Asuransi Syariah Tentang Penerapan Sistem Investasi Pada PT. Prudential Life Assurance Cabang Ponorogo? Kedua, Analisis Fatwa No.21/DSN-MUI/X/2001 tentang Pedoman Umum Asuransi Syariah Tentang Pembayaran Klaim Nilai Tunai Bagi Nasabah Pada PT. Prudential Life Assurance Cabang Ponorogo? Jenis penelitian penulis adalah penelitian lapangan dengan menggunakan metode kualitatif, sedangkan teknik pengumpulan data yang digunakan adalah wawancara dan dokumentasi. Analisis yang digunakan menggunakan metode deduktif, yaitu pembahasan yang diawali dengan mengemukakan argumentasi, teori atau ketentuan yang bersifat umum kemudian dikemukakan suatu fakta yang spesifik. Dari penelitian ini dapat disimpulkan bahwa penerapan sistem investasi pada PT. Prudential Life Assurance di cabang Ponorogo hanya sebatas administrasi. Dimana agen menentukan persentase asuransi dan investasi secara sepihak untuk mendapatkan fee yang besar, hal ini tidak sesuai dengan fatwa DSN No.21/DSN-MUI/X/2001 yang berbunyi “investasi harus dilakukan secara syariah”. Sedangkan mengenai pembayaran klaim nilai tunai dari nasabah yang tidak sesuai dengan ilustrasi, mengikuti fatwa DSN No.21/DSN-MUI/X/2001 yang berbunyi “beda klaim besarnya sesuai dengan premi yang dibayarkan”.

V The Verification of Technical Reserves in Non-Life Insurance

1971 ◽  
Vol 20 (01) ◽  
pp. 51-53
Author(s):  
C. M. Stewart
Keyword(s):  
Life Insurance ◽  
Risk Groups ◽  
Insurance Companies ◽  
Life Assurance ◽  
Careful Scrutiny ◽  
Sufficient Detail ◽  
Satisfactory Method ◽  
Claim Frequency ◽  
The Government ◽  
Do So

The reader of this note will know well the method used in the U.K. for the verification of technical reserves (i.e. the net liability) in life assurance. The net liability must be calculated by a qualified actuary and the methods and bases used must be described in sufficient detail in Schedule 4 of The Insurance Companies (Accounts and Forms) Regulations 1968 for their suitability to be apparent from a careful scrutiny of these and the other financial statistics submitted in accordance with the Regulations. As the data are made public, this scrutiny can be made not only by the Government Actuary in advising the supervisory authorities at the Department of Trade and Industry, but also by any other qualified actuary who cares to do so, which is an equally important discipline. Under this system, the maximum freedom can be allowed to the company and its actuary, but there has hitherto been no equally satisfactory method available for the objective scrutiny of non-life technical reserves. However, the new Claim Frequency Analyses and Claim Settlement Analyses prescribed in Parts II and III of Schedule 3 to the 1968 Regulations should go a long way towards remedying this deficiency. These analyses are to be supplied separately for each class of insurance in each of a company's main markets, and separately for such risk groups within each class as the company decides to be appropriate.

scholarly journals On Legislation as to Life Insurance and Life Insurance Companies

1871 ◽  
Vol 16 (2) ◽  
pp. 77-98 ◽  
Author(s):  
T. B. Sprague
Keyword(s):  
United States ◽  
United Kingdom ◽  
Life Insurance ◽  
United States Of America ◽  
The United States ◽  
Insurance Companies ◽  
The Past ◽  
Life Assurance ◽  
The United Kingdom ◽  
The Law

The past session of Parliament has witnessed the passing of an Act for the regulation of Life Assurance Companies in the United Kingdom, which, while introducing great changes in the law, still stops very far short of the system of legislation which has been for several years in operation in a few of the United States of America, and which is warmly approved of and urgently recommended for adoption by some persons in this country. The present may therefore be considered a fitting time for reviewing what has been done and considering whether any further legislation is desirable, and if any, of what nature it should be.

Some Notes on Laws affecting Policies of Life Assurance

1891 ◽  
Vol 29 (5) ◽  
pp. 381-419
Author(s):  
William Kent Lemon
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Inaugural Address ◽  
Life Assurance ◽  
Legal Questions

In response to the suggestion of our President, in his inaugural address for the present session, I commenced to put together some notes which seemed suitable for a paper to be read before one of the provincial institutes. In this I proposed to deal with some practical legal questions which are encountered by officials engaged in various positions outside the head offices of life insurance companies.

The Actuarial Practices of British Insurance Companies in Peripheral Markets: The Case of Spain (1890–1936)

2015 ◽  
Vol 17 (2) ◽  
pp. 237-264 ◽  
Author(s):  
JERÒNIA PONS PONS ◽  
PABLO GUTIÉRREZ GONZÁLEZ
Keyword(s):  
World War Ii ◽  
Life Insurance ◽  
Statistical Information ◽  
Spanish Population ◽  
Insurance Companies ◽  
World War ◽  
Death Rates ◽  
Foreign Companies ◽  
Spanish Influenza ◽  
Life Assurance

The backwardness of actuarial techniques in Spain and the lack of Spanish mortality tables had a bearing on the development of life insurance in Spain. The actuaries of the domestic and foreign companies operating in this country used other countries’ mortality tables, corrected upwards, to draw up their policies. With actuarial reports from the Gresham Life Assurance Society, established in Spain in the 1890s, the difficulties actuaries had to confront to adjust expectations to Spanish reality can be followed for decades. On the basis of statistical information from 1896 to 1937, a comparison is made between expected and actual death rates. Furthermore, the information from this company enables a comparison with other countries in which it operated (more developed and less developed than Spain) and with the profit and loss results of other domestic and foreign companies operating in the country. Moreover, the problems caused for actuaries by unforeseen events that affected the Spanish population in particular, such as the “Spanish Influenza” or the Civil War, can also be studied. On the basis of this valuable documentation, certain patterns of the difficulties faced by actuaries operating in economically backward countries before World War II can be established.

scholarly journals The Evolution of Premium Rates, a chapter in the History of Life Insurance

1896 ◽  
Vol 3 ◽  
pp. 416-438
Author(s):  
James Sorley
Keyword(s):  
Seventeenth Century ◽  
Life Insurance ◽  
Limited Extent ◽  
Life Assurance ◽  
History Of ◽  
Premium Rates ◽  
The Many ◽  
Historical Sketch

Gentlemen,—For the honour which you have done me by electing me Honorary President of our Society for the new Session which we inaugurate to-night, I return you my most sincere and cordial thanks. All the more do I appreciate the compliment in that, during the greater portion of my business life, I have been more or less intimately connected with the Societ, and have learned much from the many important papers which have been read at its meetings, and from the discussions which have taken place upon them.It has occurred to me that a fitting subject for this evening would be an historical sketch of the rates of premiums charged for Life Assurances, and a consideration of the grounds upon which such premiums have from time to time been adjusted, together with an examination of tendencies at work which may yet lead to further modifications in our methods or our results.Life Assurance appears to have been practised to a limited extent in the seventeenth century, and earlier part of the eighteenth, as a simple branch of underwriting. Those whose business it was to insure ships against loss at sea, came in due course to be asked to insure also masters of vessels—not against death, but against the risk of their being taken by the Moorish or Turkish pirates, etc., in order that, in such an event, a fund might be available to pay their ransom.

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