scholarly journals Modeling Number of Third-party Legal Liability Insurance Claims

2018 ◽  
Vol 3 (11) ◽  
pp. 311
Author(s):  
F F Adam
Keyword(s):  
Legal Liability ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Claims

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scholarly journals Legal Certainty of Doctor Profession Insurance Claim in Bumiputera Muda 1967 General Insurance, Pekanbaru City

2020 ◽  
Vol 7 (10) ◽  
pp. 333
Author(s):  
Ibnu Multazam ◽  
Ismansyah Ismansyah ◽  
Wetria Fauzi
Keyword(s):  
Medical Profession ◽  
Medical Professional ◽  
Third Party ◽  
Liability Insurance ◽  
Legal Certainty ◽  
Insurance Claims ◽  
Insurance Claim ◽  
Positive Law ◽  
Information Studies ◽  
Made In

PT. Asuransi Umum Bumiputera Muda 1967 Sells an insurance product called professional medical insurance, which is included in the scope of liability insurance. Liability insurance is a type of insurance that covers material losses due to legal liability to other parties, in this case a mistake or negligence committed by a doctor in carrying out his / her duties. The problems in this thesis are how is the legal certainty in medical profession insurance claims and how is legal certainty in the implementation of medical profession insurance claims at PT. Asuransi Umum Bumiputera Muda 1967, Pekanbaru City. The method used in this thesis is a juridical empiric approach. Sources of data are primary, secondary and tertiary legal materials obtained through literature and information studies, using interview guidelines and field observations. From research done shows that the rule of law in insurance claims medical profession when there is negligence medic was not found in the positive law of Indonesia, therefore, if there had been an agreement between the parties regarding the amount of compensation and payment terms then poured into agreements or agreements made in writing, either under hand or before a notary. This agreed agreement will become the law for the parties in claiming professional insurance. Furthermore, legal certainty in the settlement of medical professional insurance claims as well as implementation and obstacles both from the insurance party, the doctor as the insured or a third party, in this case the Medicolegal team

Cláusulas de franquicia o deducible en seguros de responsabilidad civil en el Derecho español: Naturaleza y efectos respecto de terceros perjudicados

2018 ◽  
pp. 101
Author(s):  
Rafael Lara González
Keyword(s):  
Civil Liability ◽  
Third Parties ◽  
Insurance Contract ◽  
Third Party ◽  
Liability Insurance ◽  
Legal Doctrine ◽  
Insurance Contracts ◽  
Spanish Law ◽  
Palabras Clave ◽  
Legal Nature

ResumenPese a su ubicuidad en la práctica contractual, las cláusulas de franquicia han recibido tratamiento incidental en la doctrina. La discusión sobre ellas se ha enfocado en los contratos de seguros de responsabilidad civil, y en la interpretación del artículo 76 de la Ley española de Contrato de Seguro. En este contexto se ha tratado de establecer si el asegurador puede o no oponer la cláusula de franquicia al tercero perjudicado. El presente trabajo analiza la cláusula de franquicia en la obligación principal del asegurador, su naturaleza jurídica, y examina su relación con los terceros perjudicados. La consideración principal a este respecto estará en si nos encontramos ante un seguro obligatorio o ante un seguro voluntario de responsabilidad civil. Palabras clave: Contrato de seguro; Cláusula de franquicia; Terceroperjudicado; Responsabilidad civil.AbstractDespite their ubiquity in contractual praxis, deductible clauses have received only incidental treatment in legal doctrine. Discussion on them has focused on civil liability insurance contracts, and the interpretation of article 76 of the Spanish Law of Insurance Contracts. In this context it has been attempted to establish whether the insurer can invoke the clause to oppose the injured third party's claim. This article examines the deductible clause included in the insurer's main obligation, its legal nature, and its relation to injured third parties. The main consideration in this regard will be whether the insurance contract is of a mandatory or voluntary nature.Keywords: Insurance contract; Deductible clause; Injured third party; Civil liability.

Not all experts are equal in the eyes of the International Auditing and Assurance Standards Board: On the application of ISA510 and ISA620 by South African registered auditors

2021 ◽  
Vol 24 (1) ◽  
Author(s):  
Marianne Kok ◽  
Warren Maroun
Keyword(s):  
South African ◽  
Audit Quality ◽  
Legal Liability ◽  
Third Party ◽  
Audit Committees ◽  
Test Procedures ◽  
Technical Application ◽  
Auditing Standards ◽  
Testing Complex ◽  
African Context

Background: The article focuses on inconsistencies in audit approaches when auditors place reliance on the work performed by others. It examines differences in the approach followed by auditors when relying on the work of a predecessor versus the work of an auditor’s expert.Setting: The study contributes to the limited body of auditing research focusing on the technical application of International Auditing Standards and the functioning of actual audit practice in a South African context. It outlines how auditors apply their professional judgement when using technical auditing standards when comparing the work of a similarly trained expert in the field of accounting and auditing (per ISA510) versus the work of an expert in a field other than accounting and auditing (per ISA620).Aim: The purpose of this article is to examine and identify inconsistencies in the interpretation and application of ISA510 and ISA620 by a purposefully selected number of registered auditors in South Africa. It considers how inconsistencies in the approach followed when an auditor places reliance on the work of another auditor or an auditor’s expert points to underlying efforts to seek legitimacy and manage legal liability.Method: Detailed interviews are used to explore auditors’ experiences and challenges with the application of these two ISAs.Results: Audit quality is not necessarily a function of compliance with professional standards. While ISA510 and ISA620 deal with a situation where an auditor places reliance on the work of a third party, they are interpreted and applied very differently.Conclusion: The application of ISA510 is part of a rules-based approach to auditing aimed at reducing an auditor’s legal liability rather than enhancing audit quality. The same logic applies to ISA620 except that auditors perceive that their risk exposure is lower because the standard is limited to a single transaction or balance rather than to the entire audit engagement. The application of ISA620 is also useful for convincing internal reviewers, external regulators or audit committees that sufficient appropriate evidence for a complex line item has been obtained. The need to ensure a more robust process for testing complex balances and transactions is not, however, the primary consideration. Regulators and standard setters should not assume that compliance with auditing standards results in better quality audits. At the operational level, the need to manage legal liability and to signal the credibility of test procedures may be more relevant for the execution of audits than ensuring that audit opinions are supported by sufficient appropriate audit evidence. As only two standards, applied in a single jurisdiction, are used to illustrate this point, additional research will be required to determine the extent of inconsistency in the application of auditing standards and how this can result in lower levels of audit quality.

scholarly journals The Expectation Gap In The Legal System: Perception Differences Between Auditors And Judges

2011 ◽  
Vol 10 (3) ◽  
pp. 39 ◽  
Author(s):  
Jordan Lowe
Keyword(s):  
Legal System ◽  
Legal Liability ◽  
Business Owners ◽  
Third Parties ◽  
Third Party ◽  
Bank Loan ◽  
Small Business Owners ◽  
Expectation Gap ◽  
Role Responsibilities ◽  
Loan Officers

<span>The expectation gap, and its related effects on auditor legal liability, has been presumed to be caused by diverging perceptions by the auditing profession and third party litigants regarding the professions role, responsibilities, and related performance. Prior research regarding the expectation gap has focused on diverging perceptions of different groups (i.e. financial analysts, bank loan officers, small business owners, and auditors). While this research has identified an expectation gap between auditors and certain third-parties, it has neglected examining the perceptions of judicial litigants. This absence is somewhat ironic given the current auditor legal liability situation. This study fills this void by comparing judges and auditors attitudes toward the auditing profession. Results revealed a large divergence in perceptions of auditors and judges regarding their expectations of the auditing profession.</span>

scholarly journals The Application of Bühlmann‑Straub Model with Data Correction for the Estimation of Net Premium Rates in Bonus‑Malus Systems of the Motor Third Liability Insurance

2018 ◽  
Vol 4 (336) ◽  
pp. 7-22
Author(s):  
Anna Edyta Szymańska
Keyword(s):  
Estimation Method ◽  
Third Party ◽  
Liability Insurance ◽  
New Method ◽  
Insurance Companies ◽  
Data Correction ◽  
Insurance Portfolio ◽  
Premium Rates ◽  
The Right

One of the elements used in the process of tariff calculation of premiums in motor liability insurance is a bonus‑malus system. This systems takes into account the “claims ratio” by means of increases and discounts of the base premium called net premium rates. The aim of this work is to propose an estimation method of the net premium rates in the bonus‑malus classes of the motor third‑party liability insurance portfolio of individuals. The Bühlmann‑Straub model was used for the premium estimation. In order to improve the credibility of the estimated premium rates, a data correction in the classes with premium increase was preformed. An example of the application of the new method is presented based on the data obtained from one of the insurance companies operating on the Polish market, which has reserved the right to stay anonymous.

10. Derivative claims

Company Law ◽  
2020 ◽  
pp. 177-206
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Majority Rule ◽  
Third Party ◽  
Liability Insurance ◽  
Minority Shareholders ◽  
Legal Personality ◽  
The Core ◽  
Locus Standi ◽  
Stage Process ◽  
The Subject ◽  
Management Principle

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter examines derivative action as a means of safeguarding minority shareholders against abuses of power and its implications for the principle of majority rule. It begins by analysing the rule in Foss v Harbottle (1843), which translates the doctrine of separate legal personality, the statutory contract, the ‘internal management principle’, and the principle of majority rule into a rule of procedure governing locus standi (that is, who has standing to sue), as well as the exceptions to that rule. It then considers various types of shareholder actions, including personal claims, representative actions (group litigation), and derivative claims. It also discusses derivative claims under the Companies Act 2006, with emphasis on the two-stage process of the application for permission to continue a derivative claim. The chapter concludes by assessing bars to a derivative action, together with liability insurance and qualifying third party indemnity provisions.

scholarly journals On the Validation of Claims with Excess Zeros in Liability Insurance: A Comparative Study

Risks ◽  
2019 ◽  
Vol 7 (3) ◽  
pp. 71 ◽  
Author(s):  
Marjan Qazvini
Keyword(s):  
Poisson Regression ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Pricing ◽  
Excess Zeros ◽  
Insurance Portfolio ◽  
Zip Model ◽  
Validation Set ◽  
Insurance Data ◽  
Better Than

In this study, we consider the problem of zero claims in a liability insurance portfolio and compare the predictability of three models. We use French motor third party liability (MTPL) insurance data, which has been used for a pricing game, and show that how the type of coverage and policyholders’ willingness to subscribe to insurance pricing, based on telematics data, affects their driving behaviour and hence their claims. Using our validation set, we then predict the number of zero claims. Our results show that although a zero-inflated Poisson (ZIP) model performs better than a Poisson regression, it can even be outperformed by logistic regression.

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