Mutuality and the Underwriting Cycle: Theory with Evidence from the Pennsylvania Fire Insurance Market, 1873-1909

2004 ◽  
Author(s):  
George H. Zanjani
Keyword(s):  
Insurance Market ◽  
Fire Insurance ◽  
Underwriting Cycle

Sharing the Risk

2021 ◽  
pp. 281-298
Author(s):  
Andrew C. A. Elliott
Keyword(s):  
Climate Change ◽  
Law Of Large Numbers ◽  
Insurance Market ◽  
Insurance Companies ◽  
Marine Insurance ◽  
Fire Insurance ◽  
Large Numbers ◽  
Mutual Insurance ◽  
The Face ◽  
Friendly Societies

Insurance makes use of the law of large numbers to mitigate the effects of risks on individuals by allowing them to be shared collectively. Early insurance arrangements arose as friendly societies and mutual insurance companies. Marine insurance has a long history and remains a major insurance market. Fire insurance provides compensation in the face of a capricious and frightening risk, but also invites fraudulent claims. Increasing amounts of information provide challenges for insurance underwriting: can there be too much information? The principle of insurance is that of averaging out of independent risks, but when risks are not independent, as may be the case when it comes to climate change, is there still any role for insurance?

The determinants of reinsurance in the Swedish property fire insurance market during the interwar years, 1919–39

2010 ◽  
Vol 52 (2) ◽  
pp. 268-284 ◽  
Author(s):  
Hale Abdul Kader ◽  
Michael Adams ◽  
Lars Fredrik Andersson ◽  
Magnus Lindmark
Keyword(s):  
Insurance Market ◽  
Fire Insurance

scholarly journals Competing Models of Organizational Form: Risk Management Strategies and Underwriting Profitability in the Swedish Fire Insurance Market Between 1903 and 1939

2012 ◽  
Vol 72 (4) ◽  
pp. 990-1014 ◽  
Author(s):  
Michael Adams ◽  
Lars Fredrik Andersson ◽  
Magnus Lindmark ◽  
Elena Veprauskaite
Keyword(s):  
Risk Management ◽  
High Risk ◽  
Management Strategies ◽  
Organizational Form ◽  
Insurance Market ◽  
Insurance Markets ◽  
Fire Insurance ◽  
Social Obligation ◽  
Risk Management Strategies ◽  
Competing Models

Mutual and stock insurers have coexisted and competed against each other in insurance markets for centuries. In this article, we examine the risk management strategies and underwriting profitability of the different organizational forms in Sweden's property fire insurance market between 1903 and 1939. We demonstrate that stock insurers acted as intermediaries between policyholders and reinsurers to operate effectively in the potentially high-risk segments of the fire insurance market. In contrast, nationwide mutual insurers kept larger reserves to balance fluctuations in claims experiences, while local insurance pools relied on social obligation and trust to mobilize capital after adverse fire events.

Prediction of Technical Reserves Based on Grey Model — GM(1,1): Evidence from Non-life Egyptian Insurance Market

2019 ◽  
Vol 10 (9) ◽  
pp. 852-860
Author(s):  
Mahmoud Elsayed ◽  
◽  
Amr Soliman ◽  
Keyword(s):  
System Theory ◽  
Grey System Theory ◽  
Insurance Market ◽  
Grey Model ◽  
Loss Ratio ◽  
Grey System ◽  
Mathematical Technique ◽  
Supervisory Authority ◽  
Error Ratio ◽  
Using Data

Grey system theory is a mathematical technique used to predict data with known and unknown characteristics. The aim of our research is to forecast the future amount of technical reserves (outstanding claims reserve, loss ratio fluctuations reserve and unearned premiums reserve) up to 2029/2030. This study applies the Grey Model GM(1,1) using data obtained from the Egyptian Financial Supervisory Authority (EFSA) over the period from 2005/2006 to 2015/2016 for non-life Egyptian insurance market. We found that the predicted amounts of outstanding claims reserve and loss ratio fluctuations reserve are highly significant than the unearned premiums reserve according to the value of Posterior Error Ratio (PER).

State Approaches to Premium Rate Reforms in the Individual Health Insurance Market

2014 ◽  
Author(s):  
Sabrina Corlette Corlette ◽  
Kevin W. Lucia Lucia ◽  
Justin Giovannelli Giovannelli
Keyword(s):  
Health Insurance ◽  
Insurance Market ◽  
Premium Rate ◽  
Individual Health ◽  
Health Insurance Market ◽  
The Individual
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