scholarly journals Utilization Copula in Determination of Shallot Insurance Premium Based on Regional Harvest Results

2020 ◽  
Vol 20 (2) ◽  
pp. 160-166
Author(s):  
Hasna Afifah Rusyda ◽  
Achmad Zabar Soleh ◽  
Lienda Noviyanti ◽  
Anna Chadidjah ◽  
Fajar Indrayatna
Keyword(s):  
Risk Estimation ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Market Prices ◽  
Horticultural Crops ◽  
Result Show ◽  
Weather Changes ◽  
Dependence Modelling ◽  
Agricultural Yields

Abstract: Shallot is one of the highest-yielding horticultural crops in Indonesia and has the tendency to increase the profits of farmers in Indonesia. But until now in Indonesia there is no insurance for horticultural crops other than corn, whereas the shallot farmers face various sources of risk such as weather changes, pest attacks, or other technical factors that ultimately lead to uncertainty of agricultural yields (revenue risk). To overcome this loss, insurance companies can make products based on shallot yields and shallot market prices. Therefore it is essential to grasp the distribution of risk variables (shallot yields and shallot market prices) that interact simultaneously, not separate from one another. Omitting dependencies among risk variables can cause biased risk estimation. Copula can model the non-linear dependencies and can identify the structure of the dependencies between variables. The suitable copula for modeling yield and price risk of shallot is simulated to compute the premium. Result show that clayton copula is suitable for dependence modelling between risk variables.

scholarly journals PEMODELAN DAN SIMULASI PROSES SURPLUS PADA BISNIS ASURANSI

2018 ◽  
Vol 6 (1) ◽  
pp. 38
Author(s):  
Hutomo Atman Maulana ◽  
Erma Domos
Keyword(s):  
Negative Impact ◽  
Stochastic Modelling ◽  
Insurance Companies ◽  
Time Of Arrival ◽  
Insurance Company ◽  
Result Show ◽  
Claims Problem ◽  
Insurance Business ◽  
Premium Income

Basic insurance business is public trust. Insurance companies must pay attention to the systems and procedures for the payment of claims problem which is not simple. One of the important thing is when determining premium, because if it is too high could lead the company out of competition with the competitor. In the other hand, it is too low could lead the company lack of cash to handle claim which bring a negative impact for the company. This research aimed to give illustration of surplus in insurance business in a year period through determination of premium income and stochastic modelling in number and amount of claims. This model could be used by insurance company to take decision when determining premium whether surplus or ruin. The research used Exponential  and Gamma distribution to model time of arrival and amount of claim respectively.  The result show that the minimum premium could be found to get minimum surplus and avoid ruin.

Determination of Optimum Parameters for Anaerobic Thermophilic Bacterium Injection using Commercial Simulator: Core Flooding Validation and Sensitivity

2020 ◽  
Author(s):  
A. Koto
Keyword(s):  
Oil Recovery ◽  
Simulation Experiment ◽  
Previous Experiment ◽  
Core Sample ◽  
Thermophilic Bacterium ◽  
Injection Rate ◽  
Core Flooding ◽  
Optimum Parameters ◽  
Result Show

The objective of this paper is to determine the optimum anaerobic-thermophilic bacterium injection (Microbial Enhanced Oil Recovery) parameters using commercial simulator from core flooding experiments. From the previous experiment in the laboratory, Petrotoga sp AR80 microbe and yeast extract has been injected into core sample. The result show that the experiment with the treated microbe flooding has produced more oil than the experiment that treated by brine flooding. Moreover, this microbe classified into anaerobic thermophilic bacterium due to its ability to live in 80 degC and without oxygen. So, to find the optimum parameter that affect this microbe, the simulation experiment has been conducted. The simulator that is used is CMG – STAR 2015.10. There are five scenarios that have been made to forecast the performance of microbial flooding. Each of this scenario focus on the injection rate and shut in periods. In terms of the result, the best scenario on this research can yield an oil recovery up to 55.7%.

scholarly journals Road Networks Winter Risk Estimation Using On-Board Uncooled Infrared Camera for Surface Temperature Measurements over Two Lanes

2011 ◽  
Vol 2011 ◽  
pp. 1-8 ◽  
Author(s):  
M. Marchetti ◽  
M. Moutton ◽  
S. Ludwig ◽  
L. Ibos ◽  
V. Feuillet ◽  
...  
Keyword(s):  
Data Analysis ◽  
Road Network ◽  
Risk Estimation ◽  
Risk Index ◽  
Road Networks ◽  
Infrared Camera ◽  
Atmospheric Parameters ◽  
The Road ◽  
Measurement Rate

Thermal mapping has been implemented since the late eighties to establish the susceptibility of road networks to ice occurrence with measurements from a radiometer and some atmospheric parameters. They are usually done before dawn during wintertime when the road energy is dissipated. The objective of this study was to establish if an infrared camera could improve the determination of ice road susceptibility, to build a new winter risk index, to improve the measurements rate, and to analyze its consistency with seasons and infrastructures environment. Data analysis obtained from the conventional approved radiometer sensing technique and the infrared camera has shown great similarities. A comparison was made with promising perspectives. The measurement rate to analyse a given road network could be increased by a factor two.

scholarly journals On the Determination of the Rates of Premium for Assuring against Issue

1859 ◽  
Vol 8 (3) ◽  
pp. 127-138
Author(s):  
Archibald Day
Keyword(s):  
Individual Case ◽  
Insurance Companies ◽  
The Subject

Among the numerous classes of risks now undertaken by Insurance Companies, those against the contingency of leaving issue are beginning, from their increasing numbers, to assume a position of greater importance than heretofore. Nothing has hitherto, to my knowledge, been written upon the subject, and the premiums for insurances of this nature have been left to the judgment of the actuary as each individual case has come before him, there being no recognized and accurate formula for the calculation of the risk. Under these circumstances, and as a considerable amount of material exists from which approximate results may be deduced, I venture to submit to the Institute a few considerations upon the subject, but confined principally to the probabilities of marriage so far as they affect the calculation of such premiums.

scholarly journals The Competitiveness Assessment of the Life Insurance Companies in Ukraine

2020 ◽  
pp. 47-53
Author(s):  
N. Prykaziuk ◽  
A. Tkachenkо
Keyword(s):  
Development Strategy ◽  
Life Insurance ◽  
Customer Orientation ◽  
Insurance Companies ◽  
Relevant Market ◽  
Methodical Approach ◽  
Leading Position ◽  
Regulation Model ◽  
Further Development

The paper suggests a methodical approach to assessing the life insurance companies’ competitiveness, which is based on a combination of ranking and radar methods. The algorithm for such an assessment is developed, which covers seven progressive stages. The respective calculations revealed the most competitive life insurance companies currently existing in Ukraine. The performed analysis proved the existence of system-forming life insurance companies in Ukraine, as well as groups of institutions that, under certain conditions, can compete significantly or even take a leading position in the market. It is proved that the establishment of competitive positions of such institutions in the relevant market is not only economic but also social in nature, because it allows potential policyholders quickly determining the integrated state of development of a particular insurer. It is substantiated that such calculations are necessary for insurers, as well as for the relevant state authorities, concerning the determination of further development prospects for the cash-value life insurance. Such an analysis is also justified under the changing regulation model of the life insurance companies, as one of the key tasks of the NBU is to strengthen the requirements for their activities, as a result, only the most developed institutions will remain on the market. It is proved that maintaining its place in the market by existing insurers-leaders and, at the same time, gaining new additional prospects for strengthening their market positions by other life insurance companies, requires using a flexible development strategy, which will be based on customer orientation. The ways for improvement of traditional development strategies of life insurance companies are outlined, which allows strengthening their competitive positions in the market under the emerging crisis phenomena in the economic and financial fields.

scholarly journals DETERMINATION OF NATURAL RADIONUCLIDE IN PIG PRODUCTION CHAIN IN MACEDONIA BY GAMMA SPECTROMETRY

AGROFOR ◽  
2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Dimitar Nakov ◽  
Metodija Trajchev ◽  
Aleksandra Angjeleska ◽  
Katerina Belichovska ◽  
Nikola Pacinovski
Keyword(s):  
Specific Radioactivity ◽  
Natural Radionuclide ◽  
Animal Products ◽  
Production Chain ◽  
Significant Difference ◽  
Human Food Chain ◽  
Naturally Occurring Radionuclides ◽  
Result Show ◽  
Important Pathway

Exposure of animals to ionizing irradiation may be a important pathway fortransfer of radionuclides to human food chain, thereby adding to the exposureburden. Therefore, radiation control of animal feeds and animal products willreduce risk for radioactive hazards to human health. The study was carried out inorder to detect the natural radioactivity in edible parts of pigs, excrements andfeeds in one commercial pig breeding farm in Macedonia. Therefore, 40K, 212Pb,214Pb, 228Ac, 235U, 241Am, 212Bi, 214Bi, 232Th, 7Be and 226Ra were measured usinggamma spectrometry. Gamma spectrometer Canberra Packard with a high-puritygermanium detector and Marinelli beakers (1 l capacity) were used for the samplesmeasurement. The most prominent gamma energies observed in the spectrabelonged to the naturally occurring radionuclides 40K, 235U and 232Th. Othernuclides if present occurred infrequently at low levels. The result show that 40Kmade the largest contribution to the specific radioactivity in all the samples. Themean activity concentration of the 40K in edible organs (kidney and liver), muscle,excrements and feeds was: 73.39±9.109 Bq/kg; 111.26±3.88 Bq/kg; 298.80±38.51Bq/kg; 83.60±10.279 Bq/kg, respectively. The 235U and 232Th were detectible onlyin feed samples (0.53±0.293 Bq/kg; 163.69±23.791 Bq/kg, respectively) andsamples from excrements (0.25±0.021 Bq/kg; 58.17±1.062 Bq/kg, respectively).The other radionuclides were detected only in few samples and the measuredactivities were below the detection limit. If we take in consideration the activityconcentration of the most frequently occurred 40K found in all samples, than therewas statistical significant difference between radioactivity concentration in organs,muscle, excrements and feeds (p<0.001).

Quantitative Determination of Safety Integrity Level on Offshore Metering and Custody Transfer Facility

2003 ◽  
Author(s):  
Alejandro Di´az-Herna´ndez ◽  
Mari´a Eloisa Pe´rez Medina ◽  
Rafael Melo Gonza´lez
Keyword(s):  
Petroleum Industry ◽  
Fault Tree Analysis ◽  
Insurance Companies ◽  
Minimal Cut Sets ◽  
Reliability Parameters ◽  
Safety Integrity Level ◽  
Primary Element ◽  
Oil Tanker ◽  
Innovative Concept

A quantitative way for determining the Safety Integrity Level of Safety Instrumented System (SIS) on Offshore Metering and Custody Transfer Facility in Campeche Bay Mexico is presented in this work. The methodology that was employed in order to assess and determine the Reliability parameters of SIS; which was carried out in three steps: 1. Identify undesirable events that can damage to personnel using the API-14C and to, the facility and the environment (by oil spill in hoses when the oil tanker is filled), 2. Estimate the severity and consequences of risk, using safety layer matrix of ISA S84.01 and, 3. Quantify the severity of each risk identified with the fault tree analysis. This last step uses the minimal cut sets, an innovative concept in petroleum industry, this provides valuable information about possible combinations of fault events, that can result in a critical failure of the system. The period of maintenance of the main SIS components (sensors, logic solver and final element), was reduced applying redundancy in the primary element. Furthermore, the results obtained of this analysis can be used by insurance companies or institutions that certify under standards of process quality and safety.

OSIGURANjE ŽIVOTA U KORIST TREĆIH LICA

2021 ◽  
pp. 535-551
Author(s):  
Zoran Miladinović ◽  
Keyword(s):  
Life Insurance ◽  
Legal Status ◽  
Insurance Contract ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Law ◽  
Legal Provisions ◽  
Insured Person ◽  
Insured Event

Insurance of life in favor of third parties is more important than the insurance of life in case of death. Moreover, in some rights this type of insurance can be contracted only in the event of the death of the insured person. There are no such restrictions in our insurance law, which means that the same can be agreed in case the isured person reaches a certain age. With this type of insurance, the insured event can be realized on the person of the insurance policyholders or on some other person. The insured person can therefore be the insurance contractor himself and it can also be another person. Considering that in this type of insurance, upon the occurrence of the insured event, the payment of the insured amount is always made to a certain third party beneficiary and that the insurance contract mentions several persons with different legal status, the insurance contract must clearly define the issues such as clear determination of the beneficiary insurance, what happens if the insurance beneficiary dies before the insured person, or the contractor assures, whether it is necessary for the insurance beneficiary to give his consent to be paid compensation, whether and until when the insurance policyholder can revoke the benefit he has contracted for a third party-beneficiary of the insured, etc. All these issues are mainly regulated by legal provisions, but of particular importance are General Conditions of life insurance of life insurance companies, as the above issues are clearly defined on the basis of experiences that have proven to be open in practice.

Asset Insulators

2020 ◽  
Author(s):  
Gabriel Chodorow-Reich ◽  
Andra Ghent ◽  
Valentin Haddad
Keyword(s):  
Market Value ◽  
Value Of Life ◽  
Insurance Companies ◽  
Security Level ◽  
Data Set ◽  
Market Prices ◽  
Life Insurers ◽  
Pass Through

Abstract We construct a new data set tracking the daily value of life insurers’ assets at the security level. Outside of the 2008–2009 crisis, a ${\$}$ 1 drop in the market value of assets reduces an insurer’s market equity by ${\$}$ 0.10. During the ?nancial crisis, this pass-through rises to ${\$}$ 1. We explain this pattern by viewing insurance companies as asset insulators, institutions with stable, long-term liabilities that can ride out transitory dislocations in market prices. Illustrating the macroeconomic importance of insulation, insurers’ market equity declined by ${\$}$50 billion less than the duration-adjusted value of their securities during the crisis.

scholarly journals An Application of Credibility Theory to Solvency Margins: Some Comments on a Paper by G. W. De Wit and W. M. Kastelijn

1982 ◽  
Vol 13 (1) ◽  
pp. 37-46 ◽  
Author(s):  
Henrik Ramlau-Hansen
Keyword(s):  
Life Insurance ◽  
Alternative Methods ◽  
Credibility Theory ◽  
Insurance Companies ◽  
Numerical Example

AbstractSome comments are given on a recent paper by de Wit and Kastelijn (1980) and alternative methods for analysing loss ratios are proposed in connection with the determination of the necessary solvency margins of non-life insurance companies. The methods are illustrated by a numerical example.

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