scholarly journals Proses Klaim Produk Director & Officers (D&O) Liability Insurance di Indonesia

2020 ◽  
Vol 15 (3) ◽  
pp. 171-182
Author(s):  
Yulial Hikmah
Keyword(s):  
Third Parties ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Company ◽  
Literature Study ◽  
Corporate Profits

D&O (Directors & Officers) liability insurance  is a protection of guarantees for Directors and Company officials (the insured) for losses arising from third party claims due to negligence around managerial or operational matters carried out by the insured. This study discusses the process of settling claims for D&O liability insurance products, claim adjustments in compensation calculations, and provisions in policies that are considered adjustments to compensation calculations. This research was conducted by interview, observation and literature study. The claim process begins with claims from third parties to the insured, and must be reported directly to the guarantor (insurance company) as soon as possible. After the report is received by the guarantor, the guarantor will begin to follow up on the claim by conducting a survey of claim investigation and collecting supporting documents needed. Furthermore, the guarantor will make a decision whether the claim submitted by the insured is guaranteed or not based on the provisions of the policy. If the claim is rejected, a rejection notice will be sent. However, if it turns out that the claim is declared guaranteed, a claim approval notice will be sent to subsequently make a claim payment. Adjustment in the calculation of compensation is needed to optimize the amount of compensation issued by the insurance company so that it can be minimized in order to achieve corporate profits.

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.

Pricing Strategy Study on Environmental Pollution Liability Insurance in China

2010 ◽  
Vol 113-116 ◽  
pp. 1529-1532
Author(s):  
Ji Chang Zhou
Keyword(s):  
Option Pricing ◽  
Environmental Pollution ◽  
Third Party ◽  
Liability Insurance ◽  
Pricing Strategy ◽  
Insurance Company ◽  
Practical Application ◽  
Strategy Study ◽  
The Third ◽  
Pricing Theory

The research discovered that the calculation pricing theory, the risk effectiveness pricing theory, the financial pricing theory is the pricing main theory basis, adopts the option pricing and in the calculation pricing union, the pricing method in the pricing technology uses one by one method and the classification unifies, adopts the corresponding pricing strategy in the practical application, only then can calculate conforms to the insurance enterprise, the insurance company, the third party wish and the benefit price.

scholarly journals Sustainable Risk Assessment through the Analysis of Financial Losses from Third-Party Damage in Bridge Construction

2020 ◽  
Vol 12 (8) ◽  
pp. 3435 ◽  
Author(s):  
Sungjin Ahn ◽  
Taehui Kim ◽  
Ji-Myong Kim
Keyword(s):  
Risk Factors ◽  
Construction Projects ◽  
Third Parties ◽  
Assessment Model ◽  
Third Party ◽  
Risk Indicators ◽  
Insurance Company ◽  
Bridge Construction ◽  
Foundation Type ◽  
Financial Losses

Due to the recent introduction of innovative construction methods and technologies, construction projects increasingly require sustainability in their high degrees of specialization and complex work processes. This is due to a wide variety of new risk factors associated with construction projects that can lead to extensive and severe damage. When an accident occurs during a construction project, it can cause material, property, or bodily damage not only within the actual construction site but also outside, affecting third parties. This study analyzed the record of such third-party damage and the subsequent financial losses in bridge construction management, to identify the objective and quantified relationship of risk indicators related to the damage and losses. In order to assess the actual losses in construction projects, we adopted the loss claim payout data as recorded and provided by a major Korean insurance company, and conducted a multiple regression analysis to identify the loss indicators and to develop a loss estimation model. In this study, the analysis of the data indicated that the superstructure type, the foundation type, floods, and company ranking by the amount of the contract were the four statistically significant risk indicators that affected financial losses from third-party damage, among the nine variables used as independent variables, which included the superstructure type, foundation type, superstructure construction method, maximum span length, floods, typhoons, total construction cost, total construction period, and company ranking. As this study focused on identifying the risk factors and producing a loss assessment model quantified in numerical values, the results provide important references for assessing and minimizing the risks to third parties and the consequential financial losses in bridge construction, while promoting sustainability objectives.

scholarly journals Subrogation in the Rear-View: Evaluating Alberta's Current Approach to Automobile Liability Insurance for Impaired Drivers

2014 ◽  
Vol 51 (3) ◽  
pp. 601
Author(s):  
Kendal Gummer
Keyword(s):  
Public Policy ◽  
Current System ◽  
Current Approach ◽  
Third Parties ◽  
Third Party ◽  
Liability Insurance ◽  
Previous Approach ◽  
The Public ◽  
Policy Objectives ◽  
The Right

In Alberta, automobile insurers are required to indemnify an insured up to policy limits for injury or property damage to third parties for which the insured is liable. Prior to 1 June 1982, insurers could demand reimbursement for third party liability payments if the insured driver caused loss while under the influence of drugs or alcohol. However, the Insurance Amendment Act removed the right of insurers to recover these sums. This article evaluates this amendment by considering its impact on the public policy objectives ordinarily associated with subrogation, and argues that, compared to the previous approach, Alberta’s current system of third party liability coverage better serves the objectives of subrogation.

scholarly journals Optimal Bonus-Malus System Design in Motor Third-Party Liability Insurance in Turkey: Negative Binomial Model

2016 ◽  
Vol 8 (8) ◽  
pp. 205 ◽  
Author(s):  
Serpil Ergün Bülbül ◽  
Kemal B. Baykal
Keyword(s):  
Financial Stability ◽  
Negative Binomial ◽  
Negative Binomial Model ◽  
Third Party ◽  
Liability Insurance ◽  
Credibility Theory ◽  
Insurance Companies ◽  
Binomial Model ◽  
Insurance Company ◽  
System Data

One of the most significant instruments used in motor third-party liability insurance rating is bonus-malus system. The aim of the bonus-malus system is to provide a fairness of the premiums paid by ensuring everyone pays a premium that corresponds exactly to their own claim frequency. A balance of total amount of bonuses and maluses is very important to maintain the financial stability of the insurance companies. In Turkey, free tariff regime in motor third-party liability insurance has been adopted since 2014. In this study, an experience rating was employed via the insured’s individual claim experience by considering the drawbacks of using mandatory bonus-malus system. Data entailing information about the claim frequencies of automobiles over a year for motor third party liability policies were obtained from an insurance company. Optimal bonus-malus rates are determined by negative binomial model by using credibility theory, Bayesian approach and the principle of expected value premium.

Formation of Contract and Third Parties in Cambodia

2018 ◽  
Author(s):  
Ly Tayseng
Keyword(s):  
Academic Writing ◽  
Case Law ◽  
Civil Code ◽  
Third Parties ◽  
Third Party ◽  
The Third ◽  
Contract Formation ◽  
The Law ◽  
The Right ◽  
Formal Requirements

This chapter gives an overview of the law on contract formation and third party beneficiaries in Cambodia. Much of the discussion is tentative since the new Cambodian Civil Code only entered into force from 21 December 2011 and there is little case law and academic writing fleshing out its provisions. The Code owes much to the Japanese Civil Code of 1898 and, like the latter, does not have a requirement of consideration and seldom imposes formal requirements but there are a few statutory exceptions from the principle of freedom from form. For a binding contract, the agreement of the parties is required and the offer must be made with the intention to create a legally binding obligation and becomes effective once it reaches the offeree. The new Code explicitly provides that the parties to the contract may agree to confer a right arising under the contract upon a third party. This right accrues directly from their agreement; it is not required that the third party declare its intention to accept the right.

Contracts for the Benefit of Third Parties Under the Taiwan Civil Code

2018 ◽  
Author(s):  
Sheng-Lin JAN
Keyword(s):  
Civil Code ◽  
Third Parties ◽  
Third Party ◽  
The Third ◽  
Legal Relationship ◽  
The Third Party ◽  
Privity Of Contract

This chapter discusses the position of third party beneficiaries in Taiwan law where the principle of privity of contract is well established. Article 269 of the Taiwan Civil Code confers a right on the third party to sue for performance as long as the parties have at least impliedly agreed. This should be distinguished from a ‘spurious contract’ for the benefit of third parties where there is no agreement to permit the third party to claim. Both the aggrieved party and the third party beneficiary can sue on the contract, but only for its own loss. The debtor can only set off on a counterclaim arising from its legal relationship with the third party. Where the third party coerces the debtor into the contract, the contract can be avoided, but where the third party induces the debtor to contract with the creditor by misrepresentation, the debtor can only avoid the contract if the creditor knows or ought to have known of the misrepresentation.

Contracts for the Benefit of Third Parties in Japan

2018 ◽  
Author(s):  
Masami Okino
Keyword(s):  
Case Analysis ◽  
Case Law ◽  
Contract Law ◽  
Civil Code ◽  
Third Parties ◽  
Third Party ◽  
German Model ◽  
Recent Debate ◽  
The Law

This chapter discusses the law on third party beneficiaries in Japan; mostly characterized by adherence to the German model that still bears an imprint on Japanese contract law. Thus, there is neither a doctrine of consideration nor any other justification for a general doctrine of privity, and contracts for the benefit of third parties are generally enforceable as a matter of course. Whether an enforceable right on the part of a third party is created is simply a matter of interpretation of the contract which is always made on a case-by-case analysis but there are a number of typical scenarios where the courts normally find the existence (or non-existence) of a contract for the benefit of a third party. In the recent debate on reform of Japanese contract law, wide-ranging suggestions were made for revision of the provisions on contracts for the benefit of third parties in the Japanese Civil Code. However, it turned out that reform in this area was confined to a very limited codification of established case law.

scholarly journals Has the GDPR hype affected users’ reaction to cookie disclaimers?

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Oksana Kulyk ◽  
Nina Gerber ◽  
Annika Hilt ◽  
Melanie Volkamer
Keyword(s):  
Data Protection ◽  
Media Coverage ◽  
Privacy Protection ◽  
Third Parties ◽  
Survey Study ◽  
Decision To Leave ◽  
General Data Protection Regulation ◽  
General Data ◽  
Negative Feelings

  For many years, cookies have been widely used by websites, storing information about users’ behaviour. While enabling additional functionality and potentially improving user experience, cookies can be a threat to users’ privacy, especially cookies used by third parties for data analysis. Websites providers are legally required to inform users about cookie use by displaying a so-called cookie disclaimer. We conducted a survey study in 2017 to investigate how users perceive this disclaimer and whether it affects their actual behaviour. We found that while most participants had negative feelings towards the disclaimer, the disclaimer text had no significant effect on their decision to leave the website. Since the extensive media coverage of data protection issues that accompanied the EU General Data Protection Regulation (GDPR) entry into force in May 2018 may have sensitized users to privacy protection, we conducted a follow-up study in December 2018. Our results suggest that users did not change their attitude towards cookie use in favour of privacy protection, but got even more accustomed to the use of cookies, also by third parties. Moreover, many users seem to have misconceptions regarding cookie use. We discuss the implications of our results for the users’ right to make an informed decision about their privacy.

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