PRODUCT INNOVATIONS AND PARAMETERS CONCERNING MOTOR VEHICLE INSURANCE AND MANAGEMENT PROCESSES APPLIED BY INSURANCE COMPANIES

2018 ◽  
Vol 32 (1) ◽  
pp. 141-149
Author(s):  
Waclaw Jablonski ◽  
Keyword(s):  
Motor Vehicle ◽  
Insurance Companies ◽  
Product Innovations ◽  
Management Processes ◽  
Motor Vehicle Insurance

scholarly journals Reserves of Motor-Vehicle Insurance in Finland

1962 ◽  
Vol 2 (1) ◽  
pp. 161-173 ◽  
Author(s):  
Teivo Pentikäinen
Keyword(s):  
Motor Vehicle ◽  
Insurance Companies ◽  
Accurate Calculation ◽  
Short Term ◽  
The Subject ◽  
Image Position ◽  
Premium Income ◽  
The Cost ◽  
Motor Vehicle Insurance ◽  
Cluster Points

The Ministry of Social Affairs, which acts i.a. as the supervising office in Finland, has given instructions regarding the normal reserves of insurance companies. A summary of these and some comments are given here as far as they concern motor-vehicle insurance. The instructions as far as they concern the subject referred to in the following in the items 2-6, 9 and 10, were compiled by a committee, presided over by Mr. I. Ketola, M. Sc, which availed itself of the experience of several Finnish insurance companies.In order to give a review of the system as a whole many items, which are mathematically trivial and well-known, are briefly explained.The conventional principle of “pro rata parte temporis” is followed, which leads to the well-known reserve where P is the premium income of the company. This provides that the days when the premiums fall due are approximately equally distributed over the year (which can be checked from the premium sums of the different months in the book-keeping) or at least have no cluster points in the second half of the year and that the cost of the collecting of premiums is not less than 0.2 P. A more accurate calculation takes into account i.a. temporary short term policies etc.In casu-reserve. All unpaid claims (except those mentioned later) due to accidents which occured before the end of the account year, are listed and rated one by one. Doubtful cases, e.g. where the cause of the accident is still under litigation, are calculated in accordance with the “worst” alternative.

scholarly journals IMPLEMENTASI METODE BAYES PADA PENGHITUNGAN PREMI ASURANSI KENDARAAN BERMOTOR

2020 ◽  
Vol 3 (2) ◽  
pp. 112-123
Author(s):  
Rika Fitriani ◽  
Gunardi Gunardi
Keyword(s):  
Historical Data ◽  
Motor Vehicle ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Bayes Method ◽  
General Insurance ◽  
Pure Premium ◽  
Historical Data Analysis ◽  
Claim Frequency ◽  
Motor Vehicle Insurance

One type of general insurance is motor vehicle insurance. Premium pricing of general insurance can be calculated by some methods. In this study, Bayes method will be used. The distribution of claim frequency is Poisson distribution and the distribution of claim severity is Exponential distribution. The premium is calculated by multiplying the expectation of claim frequency and the expectation of claim severity. Based on the historical data analysis using the Bayes method, the highest pure premium of motor vehicle insurance in Indonesia is Hino brand and the lowest pure premium is Honda brand. The result of this premium pricing can be used as a reference for the insurance companies to manage their motor vehicle insurance reserves.

scholarly journals Personal Watercraft Incident Court Decisions: The Plaintiff’s Odds?

2021 ◽  
Vol 13 (9) ◽  
pp. 5096
Author(s):  
Eui-Yul Choi ◽  
Woo Jeong Cho
Keyword(s):  
Motor Vehicle ◽  
The United States ◽  
Insurance Companies ◽  
Court Decisions ◽  
Regression Analyses ◽  
Demographic Information ◽  
Slowing Down ◽  
Personal Watercraft ◽  
Successful Adults ◽  
Significant Factors

A personal watercraft (PWC) is a vessel that uses an inboard motor powering a water jet pump as a source of power and is operated by a person sitting, standing, or kneeling. Maneuvering a PWC is different from operating a motor vehicle or boat. An obstacle cannot be avoided by slowing down and turning the watercraft; throttle power is required to turn or maneuver the PWC. The watercraft stops only by drifting or turning sharply. The study examined sixty court decisions published in LexisNexis databases of the United States over the last decade. Cases included individuals injured while operating a PWC as a driver, passenger, or as a result of contact with a watercraft. A content analysis identified items to be used in the study. Crosstab and logistic regression analyses were used to identify demographic information and the characteristics of those who succeeded in a court of law. One-third of the cases were successful; adults, males, and the party who sustained a severe injury were more successful in a court of law with the exception of the statistically significant factors (high risk maneuvers and sharp turns). Among the additional results, we should be aware that insurance companies may not pay; additionally, it is unwise to loan a PWC to a female who has no experience.

scholarly journals Psychological distress following a motor vehicle crash: evidence from a statewide retrospective study examining settlement times and costs of compensation claims

BMJ Open ◽  
2017 ◽  
Vol 7 (9) ◽  
pp. e017515 ◽  
Author(s):  
Rebecca Guest ◽  
Yvonne Tran ◽  
Bamini Gopinath ◽  
Ian D Cameron ◽  
Ashley Craig
Keyword(s):  
At Risk ◽  
Psychological Distress ◽  
Retrospective Study ◽  
Injury Severity ◽  
Motor Vehicle ◽  
Multivariate Logistic Regression Analysis ◽  
Musculoskeletal Injury ◽  
Motor Vehicle Crash ◽  
Insurance Companies ◽  
Vehicle Crash

ObjectiveTo determine whether psychological distress associated with musculoskeletal injuries sustained in a motor vehicle crash (MVC), regardless of time of onset, impacts compensation outcomes such as claim settlement times and costs. Second, to identify factors routinely collected by insurance companies that contribute to psychological distress during the compensation process.DesignStatewide retrospective study.Data sourceAnalysis of the New South Wales statewide (Australia) injury register for MVC survivors who lodged a compensation claim from 2011 to 2013.Participants6341 adults who sustained a musculoskeletal injury and who settled a claim for injury after an MVC. Participants included those diagnosed with psychological distress (n=607) versus those not (n=5734).Main outcome measuresTime to settlement and total costs of claims, as well as socio-demographic and injury characteristics that may contribute to elevated psychological distress, such as socio-economic disadvantage, and injury severity.ResultsPsychological distress in those with a musculoskeletal injury was associated with significantly longer settlement times (an additional 17 weeks) and considerably higher costs (an additional $A41 575.00 or 4.3 times more expensive). Multivariate logistic regression analysis identified risk factors for psychological distress including being female, social disadvantage, unemployment prior to the claim, not being at fault in the MVC, requiring ambulance transportation and rehabilitation as part of recovery.ConclusionsResults provide compelling evidence that psychological distress has an adverse impact on people with musculoskeletal injury as they progress through compensation. Findings suggest that additional resources should be directed toward claimants who are at risk (eg, the socially disadvantaged or those unemployed prior to the claim), the major aim being to reduce risk of psychological distress, such as post-traumatic stress disorder, and associated risk of increased settlement times and claim costs. Prospective studies are now required that investigate treatment strategies for those at risk of psychological distress associated with an MVC.

Infant Automobile Restraint Systems: Beware of the Sun

PEDIATRICS ◽  
1980 ◽  
Vol 65 (3) ◽  
pp. 625-626
Author(s):  
Fred Hankin ◽  
Fred Vermeulen
Keyword(s):  
Case Report ◽  
Motor Vehicle ◽  
Female Infant ◽  
Insurance Companies ◽  
White Female ◽  
The Sun ◽  
Adverse Incident ◽  
Infant Safety

The use of infant safety seats in automobiles has become a standard recommendation of physicians, insurance companies, and various organizations. The efficacy of these devices in the prevention of serious motor vehicle trauma is well recognized.1-7 We report an adverse incident involving such a restraining device. CASE REPORT J.R. is a 12-week-old white female infant who was secured in such a restrainer seat in the recommended manner. The day of admission was an unusually sunny spring afternoon and the child was wearing only a T-shirt and a diaper. Persistent crying by the child for 15 minutes led to the discovery of a blister 3 cm in diameter on the exposed portion of the patient's anterior right thigh (Figure).

scholarly journals PREVENTATIVE MEASURES OF INSURERS AGAINST INSURANCE FRAUD WITH PARTICULAR REGARD TO MOTOR INSURANCE

Obiter ◽  
2017 ◽  
Vol 38 (1) ◽  
Author(s):  
Samantha Huneberg
Keyword(s):  
Motor Vehicle ◽  
Insurance Industry ◽  
Insurance Contract ◽  
Insurance Fraud ◽  
Insurance Claims ◽  
Preventative Measures ◽  
Motor Insurance ◽  
Major Increase ◽  
Motor Vehicle Insurance

Insurance fraud is prevalent in all spheres of the insurance industry; however, motor vehicle insurance sees a major increase in fraudulent insurance claims. It is for this reason that insurers need mechanisms in place to protect themselves from fraudulent claims by an insured. One of the more common preventative measures that insurers are using to protect themselves is by inserting forfeiture clauses in the insurance contract itself. These clauses aim to protect the insurer against any type of fraudulent claim by the insured. These clauses do, however, also bring a host of issues to the fore; including the fairness of these clauses as against the insured. These clauses do tend to be one-sided and therefore, a proper evaluation of these clauses is necessary to understand the application and effect these clauses can have on both the parties to an insurance contract.

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