An insurance company is obliged to pay the cost of repair work only, as specified in the insurance policy. If the insured party undertakes repair work himself or does it by independent sources this is not claimable from the insurance company. Repair includes replacement or repair of spare parts – Case No. 245/97.

2004 ◽  
pp. 231-232
Keyword(s):  
Spare Parts ◽  
Insurance Company ◽  
Insurance Policy ◽  
Repair Work ◽  
The Cost

Insurance Companies Are Liable To Compensate Insured Motor for Explosion of the Engine Even If There Was No Interference From a Third Party

1995 ◽  
Vol 10 (4) ◽  
pp. 350-351
Keyword(s):  
Third Party ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Policy ◽  
Appeal Court ◽  
Repair Costs ◽  
Apparent Reason ◽  
The Cost ◽  
Court Of First Instance ◽  
Mechanical Defect

AbstractIn a case brought before the A1 Ain Court against a local insurance company, the plaintiff claimed the cost of repairing the engine of her vehicle which was insured with the defendant insurance company. The plaintiff claimed that the engine of her vehicle had exploded accidentally and suddenly and without any apparent reason. She therefore claimed the cost of repairing the engine from the insurance company. The insurance company refused to pay on the ground that the explosion of the engine was a mechanical defect which was excluded from the terms of the insurance policy. Therefore, the insured was not entitled to be reimbursed for the repair of the engine of her own vehicle, because it was not involved in any accident with a third party. The Court of First Instance delivered a judgment in favour of the insured. This judgment was upheld by the Appeal Court and thereafter by the Abu Dhabi Supreme Court of Cassation who held that the explosion was accidental, sudden and for reasons unknown to the assured. This damage was covered by the insurance policy and the insurance company was therefore liable to compensate the insured for the repair costs even though the damage was not caused by an accident with a third party.

THE TECHNICAL CONDITION OF THE SURVEYED HYDRAULIC UNITS IN THE MOSCOW REGION AND THE CLASSIFICATION FEATURES OF THEIR RESERVOIRS

2021 ◽  
pp. 69-79
Author(s):  
V. V. GRITSAN ◽  
Keyword(s):  
Technical Condition ◽  
Moscow Region ◽  
Risk Level ◽  
Ecological Framework ◽  
Safety Level ◽  
Repair Work ◽  
Hydraulic Unit ◽  
Technical Parameters ◽  
Characteristic Features ◽  
The Cost

The article presents the results of surveys of 311 class IV hydraulic structures carried out in 2016-2020 in the Moscow region. All the reservoirs of the surveyed hydraulic units were classified according to their characteristic features, the technical condition of culverts and dams was assessed, there was established the safety level of both separate structures and hydraulic units as a whole. During the surveys, the technical parameters of the surveyed structures were established, the state of each structure and the hydraulic unit as a whole was assessed, a possibility of their accident and a risk level for the downstream areas were considered. At the same time, recommendations were developed for the elimination of serious damage and, with the help of an examination, the amount of the cost of the necessary repair work was determined. The paper also assesses the issues of the ecological state of the areas where the hydraulic units are located and the hydraulic units themselves as blocks of the ecological framework of the territories.

Theoretical and methodological approaches to the calculation of planned costs for maintenance of service vehicles of the road works customer

2021 ◽  
Vol 2021 (23) ◽  
pp. 20-30
Author(s):  
Taras Pechonchyk ◽  
◽  
Vitaliy Ivanchenko ◽  
Keyword(s):  
Customer Service ◽  
Planning Process ◽  
Spare Parts ◽  
Cost Estimates ◽  
The Road ◽  
Fleet Composition ◽  
Cost Planning ◽  
Methodological Approaches ◽  
The Cost ◽  
Service Vehicles

AbstractIntroduction. Effective management of road indstry is particularly important in conditions of limited funding, as it is not possible to provide adequate funding of the economic entity that has the functions of a customer service. The cost of the customer service maintenance depends directly on the compliance with applicable regulations for these works cost determination. One of the aspects that form a considerable part of the costs of customer service is the maintenance of service vehicles.Problem Statement. Road services in the regions (hereinafter RSR) are the recipients and managers of the funds from the State Budget of Ukraine that are directed for the development and maintenance of public roads of state importance, being as well the asset holders of these roads. To perform their functions, the RSR have vehicles on their balance, the use of which involves a number of costs, including fuel and lubricants, repair, maintenance, replacement of tires, etc. The most important of the steps involved in setting the costs of vehicle maintenance is the process of cost planning. Planning has to be based on the structure of the vehicle fleet (own or leased), functional responsibilities and scope of road works.Planning is carried out for vehicles on the balance of the RSR, as well as for leased vehicles. In the case of leasing, the costs mentioned above are added by the vehicles leasing costs. These costs must be forecasted, justified and performed within the approved cost estimates of the customer service expenses.Purpose. The purpose of the article is to highlight the theoretical and methodological approaches to the calculation of planned costs for the maintenance of service vehicles of the road works customer.Materials and methods. Dialectical methods of knowledge, such as analysis and synthesis of fleet composition characteristics and approaches to cost planning methods, as well as induction, were used in writing the article to explore some aspects of the process of calculating the planned cost of maintenance of the road works customer's service vehicles.Results. The study highlights and describes the main approaches to the calculation of planned costs for the maintenance of service vehicles of the road works customer. The methodology of calculation of planned costs for the maintenance of service vehicles is explored.Conclusions. The introduction of a clear methodology and analytical toolkit for calculating all necessary expenditure items for the maintenance of the road works customer's vehicles in the cost planning process will establish the implementation of a clear mechanism for calculating the planned costs of maintenance of the road works customer's vehicles. It will also provide an automated information-analytical complex for planning of cost estimates, with information entry and reporting in standard forms and possibility of prompt response to changes in fleet composition, needs for spare parts, repairs or other expenses for the maintenance of service vehicles and making changes in cost estimates.Keywords: motor vehicles, costs, cost planning, customer service, maintenance of service vehicles

scholarly journals INCREASING THE COMPETITIVENESS OF INSURANCE COMPANY PRODUCTS AND SERVICES USING ECONOMIC AND MATHEMATICAL MODELING METHODS

2021 ◽  
Author(s):  
Mykhailo Demydenko ◽  
Ihor Pistunov
Keyword(s):  
Mathematical Model ◽  
Social Activity ◽  
Insurance Companies ◽  
Comprehensive System ◽  
Insurance Company ◽  
Competitive Advantages ◽  
Insurance Policy ◽  
Insurance Policies ◽  
The Impact

The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. An economic and mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. To analyze the impact of these indicators on the competitiveness of the insurance policy and identify areas for improving the efficiency and competitiveness of the insurance company. The competitiveness of an insurance company depends on the competitiveness of the products and services it introduces in the market. The assessment of the quality of insurance company services is compliance with the needs, requirements, and insurance interests of customers. This assessment is performed each time an individual client chooses to cooperate with an insurance company that meets his insurance interests and wishes. Therefore, the overall competitiveness of the enterprise depends on the competitiveness of products and services offered on the market. The competitive advantages of the insurance company are expressed in the attractiveness and competitiveness of insurance policies. The insurance market in recent years has shown consistently high growth, which makes it attractive for doing business. In these conditions, the task of modeling the activities of the insurance company in a highly competitive market environment becomes relevant. A mathematical model of increasing the competitiveness of the insurance company is proposed, which allows to calculate the integrated indicator of competitiveness of the insurance policy based on a comprehensive system of indicators characterizing the reliability of the insurance company, quality of its services, competitiveness, social activity. With the proposed model, insurance companies can objectively assess their weaknesses and strengths to ensure continuous growth and decent competition in a competitive market environment. The model allows you to select performance indicators and perform modeling and determine the consequences of changes in this indicator, analyze the impact of these indicators on the competitiveness of insurance policies and identify areas for improving the efficiency and competitiveness of the insurance company. By conducting such experiments, insurance companies can make more informed choices and decisions, analyze areas of competitiveness, and more efficiently allocate resources.

scholarly journals Ways to Immune Your Finances from the Cost of Heart Disease and Cancer Treatment

2019 ◽  
Vol 8 (12S2) ◽  
pp. 43-46
Keyword(s):  
Public Health ◽  
Heart Disease ◽  
Critical Illness ◽  
Cancer Treatment ◽  
General Public ◽  
Health Concern ◽  
Insurance Policy ◽  
Public Health Concern ◽  
Questionnaire Method ◽  
The Cost

Threateningdiseases such as, cancer and heart disease are emerging as a major public health concern in India. This paper uses LANCET report to specify the background of heart disease and cancer in India. It also provides ways to transfer the out-of-pocket expenditure caused due to the diagnosis of such disease. Further it discusses about policies such as critical illness, heart and cancer insurance, heart insurance. This paper specifies different factors to be taken into consideration while purchasing a policy and assists in selecting the best insurance policy. To check the awareness among general public this paper uses a questionnaire, method to collect samples (of 417 members) and the results are interpreted accordingly. Finally, this paper also provides recommendations for Cancer Cover to make it more effective.

scholarly journals EFFECTIVENESS EVALUATION OF STEEL STRENGTH IMPROVEMENT FOR PYRAMIDAL-PRISMATIC BUNKERS

2020 ◽  
Vol 2 ◽  
pp. 30-38
Author(s):  
Yukhym Hezentsvei ◽  
Dmytro Bannikov
Keyword(s):  
Low Temperatures ◽  
High Strength ◽  
Operating Conditions ◽  
Professional Literature ◽  
Plastic Properties ◽  
Repair Work ◽  
Practical Engineering ◽  
Cis Countries ◽  
The Right ◽  
The Cost

In accordance with the recommendations of specialized professional literature, steel pyramidal-prismatic bunkers are projected for a service life of 20 years. However, in practice this term is often twice, or even three times lower. This is especially true for complicated operating conditions, in particular the effect of increased loads and low temperatures. Existing design techniques for such structures, both in European practice and the design practice of Ukraine and other CIS countries do not pay attention to these aspects. Therefore, in the practice of operation, the increased accident rate of steel bunker capacities has already become virtually a common occurrence. One of the possible ways to solve this problem is presented, which consists of using instead of traditional steels of ordinary strength with high plastic properties, steels of increased or high strength with reduced plastic properties. At the same time, clear theoretical recommendations are provided for choosing the right steel depending on the operating conditions, primarily when exposed to increased loads. The recommendations are presented in a form convenient for practical engineering applications. The proposed approach allows to reduce the material consumption of structures of this type on average according to theoretical estimates by 25-30% without reducing their bearing capacity. Their durability is also further enhanced by improving performance at low temperatures. Thus, the applied aspect of such a solution to this above problem is the possibility of increasing the overall reliability of steel bunker capacities, as well as reducing the cost of their periodic maintenance and repair work. A practical illustration of the presented approach is also given on the example of the design of bunkers of a bypass track for supplying charge materials for blast furnaces of one of the metallurgical plants of the northern location. As a result, this created the preconditions for monetary savings of about 0.5 million UAH in prices 2019 (about 20,000 USD)

A Test of Wagner’s Heuristics for the Spare Parts Inventory Control Problem

2012 ◽  
Vol 3 (4) ◽  
pp. 88-100
Author(s):  
Ibrahim S. Kurtulus
Keyword(s):  
Lead Time ◽  
Spare Parts ◽  
Exact Distribution ◽  
Heuristic Rules ◽  
Algorithmic Solution ◽  
Spare Parts Inventory ◽  
Perform Sensitivity Analysis ◽  
Inventory Control Problem ◽  
The Cost ◽  
Data Requirements

Over the years, Wagner’s (1975) heuristic rules appealed to the practitioners because they had simple data requirements, were easy to understand and hence easy to apply. In his algorithmic solution, Wagner assumes that the exact distribution of demand (during lead time) is known. If such a distribution is not available, he recommends using the normal distribution. The author’s purpose is to compare the cost of the solutions provided by Wagner’s (1975) heuristics to optimal (Archibald & Silver, 1978) and determine their quality. Their second goal is to perform sensitivity analysis on the results with respect to demand’s skewness, the ratio of ordering cost to carrying cost. The author’s third goal is to use as much actual data as they possibly can.

Employers' Liability Insurance

1931 ◽  
Vol 13 (1) ◽  
pp. 1-66 ◽  
Author(s):  
Hugh W. Brown
Keyword(s):  
Common Law ◽  
Liability Insurance ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Policy ◽  
Home Office ◽  
The Subject ◽  
Insurance Business ◽  
The Law ◽  
Workmen's Compensation

SynopsisUnder Common Law an employer has always been liable to his workmen for his own personal negligence, but it was not until 1897 that there was enacted the first of a series of Workmen's Compensation Acts which introduced a remarkable change in the law, inasmuch as the workman was given a statutory right to compensation for accident without requiring him to prove any negligence whatever.The evolution of the law relating to Workmen's Compensation is traced through the successive Acts of Parliament, and the provisions of the Workmen's Compensation Act 1925, which codifies the law on the subject, are summarised so far as they relate to the liability covered by an Insurance Policy. Under the Act the employer is liable for personal injury to his workmen by accident “arising out of and in the course of” the employment or by certain scheduled industrial diseases.An Insurance Policy covers the liability at Common Law and under the Employers' Liability Act 1880 as well as under the Workmen's Compensation Acts, and in addition makes the Insurance Company responsible for the cost of defending claims. The injured workman may have to consider whether he is likely to recover a larger sum by way of damages than he would receive in compensation by arbitration proceedings under the Workmen's Compensation Acts, and he can then elect which course to take.A description is given of the Returns of Compensations made by Insurance Companies to the Home Office on behalf of the employers in certain selected industries as required by the Workmen's Compensation Act 1925.The requirements of the Assurance Companies Act 1909 relating to Employers' Liability Insurance business are stated. In the Annual Returns to the Board of Trade under this Act, an Actuarial Valuation of the Outstanding Claims that have been in existence for five years or more is called for on an annuity basis, but no regulations are laid down for estimating the Liability in respect of Outstanding Claims of shorter duration. The present method is to take each of such claims and after considering the facts—nature of injury, rate of compensation, etc.—to make the best possible estimate of the ultimate cost to the Insurance Company. Later developments of the injury, however, may cause such estimate to be wide of the amount which the Company is called upon to pay. A plea is advanced for an investigation into the liability in respect of Outstanding Claims, in the hope that it may be found possible to arrive at average factors which could be used, with a suitable grouping of the Claims, to determine the Liability under the non-fatal Outstanding Claims from the first occasion of their becoming outstanding. When there is no recognised method based on past experience of making such an estimate, judgment may be influenced by factors not solely relevant to the ascertainment of the liability.All the leading Offices transacting Employers' Liability Insurance business are members of the Accident Offices Association. This Association was formed after the passing of the Workmen's Compensation Act 1906, by which the scope of workmen's compensation was widely extended. The Association controls the rates and policy conditions of the Tariff Offices, but as the regulations are in great measure confidential, detailed information can only be given regarding what is already common knowledge.A further step was taken in Government supervision of Insurance Companies by the Agreement made in 1923 between the Home Office and the Accident Offices Association, the effect of which is to limit to 37½% the expenses and profits in respect of the combined figures of the members of the Association.The trend of probable future legislation as recommended by the Departmental Committee in the Insurance Undertakings Bill is described, and the questions of Compulsory Insurance and State Insurance are touched upon.An account is given of an Undertaking made recently by the Accident Offices Association to furnish the Government with workmen's compensation statistics in connection with a Home Office Scheme of enquiry into the Incidence and Causation of Accidents.The subject is so extensive that it has only been possible to deal with it in broad outline, but in conclusion reference is made to various aspects that could with advantage be expanded.

scholarly journals A Mutual Reinsurance Scheme

1971 ◽  
Vol 6 (2) ◽  
pp. 163-177 ◽  
Author(s):  
Harald Bohman ◽  
Ulf Grenander
Keyword(s):  
Life Insurance ◽  
Insurance Company ◽  
Insurance Policy ◽  
Insured Person ◽  
Insurance Business ◽  
Basic Facts ◽  
Policy Holder ◽  
Administrative Expenses

In order to make this report clear to those without experience in insurance matters, we first present some basic facts about the insurance business. In so doing we intentionally omit certain facts irrelevant to the present study. The most important omission of this kind is our assumption that the insurance business operates without administrative expenses and without sales costs. We also assume that the insurance business is run in such a way that no profit is made. It will be evident to readers already directly connected with insurance problems what further omissions we have made and why we have made them.Insurance is the establishment of a contract between the insurance company and the insured person This contract is by tradition called the “insurance policy” and the insured person is called the “policyholder”. By agreeing to the insurance policy, the policyholder commits himself to paying certain premiums to the insurance company, and the insurance company commits itself to paying certain amounts to the policyholders. The conditions under which such payments are to be made are of many different kinds: the policy-holder dies, the policyholder becomes ill, a homeowner's house is burnt down, or the policyholder has a collision in his car. The circumstances under which a payment is to be made to the policy-holder are described in detail in the insurance policy. The amount to be paid is either fixed or variable: in life insurance the amount to be paid is always fixed and stated in the insurance policy, but in most other forms of insurance the intention is that the insurance compensate the policyholder for the losses he might incur as a consequence of the events covered by his policy.

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