scholarly journals PENENTUAN PREMI DAN CADANGAN PADA ASURANSI PENDIDIKAN DENGAN MEMERHATIKAN PELUANG HIDUP ANAK

2021 ◽  
Vol 10 (4) ◽  
pp. 246
Author(s):  
NI LUH DE SISKA SARI DEWI ◽  
I NYOMAN WIDANA ◽  
KETUT JAYANEGARA
Keyword(s):  
Equivalence Principle ◽  
Secondary Data ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Insurance Premiums ◽  
Life Chances ◽  
Education Fund ◽  
Mortality Table ◽  
Exact Amount ◽  
Value Of Education

Education insurance provides services in the field of education. In education insurance, the insured not only gets protection benefits but also education funds. These benefits will be received if they have paid premiums. Insurance companies also need to set the exact amount of policy value. The purpose of this study is to determine the premium and policy value of education insurance by taking into account the child's life chances. In this study, used secondary data from the 2011 Indonesian Mortality Table and illustrated data in the form of education fund data. Premium is obtained using the equivalence principle and policy value is obtained using the prospective method. In the calculation of premiums and policy values for education insurance premiums by taking into account the child's life chances, modifications are made, the amount of education funds multiplied by the child's life chances. The results given in this study are the amount of education insurance premium by taking into account the child's life chances is Rp 6.946.456,00. Policy value increases during the disbursement of education funds and decreases at the end of coverage.

Taxation of Insurance Premiums in the EU Cross-Border Insurance Business

2021 ◽  
Vol 3 (108) ◽  
pp. 52-70
Author(s):  
Anna Tarasiuk ◽  
Bracken Crossley
Keyword(s):  
Value Added ◽  
Insurance Premium ◽  
Point Of View ◽  
Insurance Companies ◽  
Insurance Premiums ◽  
Insurance Contracts ◽  
Cross Border ◽  
Tax Exemptions ◽  
Court Of Justice ◽  
The Eu

As in many other cases of business activity, the performance of insurance activity involves various types of tax charges. Insurance contracts, having been excluded from the scope of value-added tax at the EU level, are subjected to taxes specific to insurance activity, namely insurance premium taxes, which are discussed in the article. However, insurance premium tax regulations are not harmonised at the EU level and vary immensely from one country to another. In fact, in some EU countries, including Poland, no such taxes have been implemented whatsoever. The issue discussed in the article is related to the fact that an increasing number of insurance companies perform insurance activity on a cross border basis. From this point of view, although there is no such tax in Poland, it may be of great importance to Polish insurance companies that insure risks located outside Poland. The regulations concerning the insurance premium tax depend on internal decisions of individual European Union countries, both in terms of the introduction of such tax, exemptions, and rates, and they may differ significantly across those jurisdictions. Due to the nature of cross-border activity and the rules on the localisation of the risk associated with the taxation of premiums, it was not clear whether and to what extent, in the case of insurance of risks located outside Poland, a tax obligation arises in respect of insurance premiums. These questions were addressed by the Court of Justice of the EU in several cases (C-118/96, C191/99, C-243-11). The CJEU decisions have revealed the multifaceted complexity inherent to the taxation of cross border insurance contracts.

scholarly journals Alternative Method of Mitigating Risk on Medium and Large Corporations

2016 ◽  
Vol 11 (11) ◽  
pp. 164
Author(s):  
Raude John O. Messo
Keyword(s):  
Corporate Governance ◽  
Research Problem ◽  
Insurance Premium ◽  
Alternative Methods ◽  
Management Policy ◽  
Motor Vehicles ◽  
Insurance Companies ◽  
Insurance Premiums ◽  
Alternative Method ◽  
The Government

High operating costs and complexity of risks are impacting negatively on corporations’ profitability despite practicing corporate governance. Corporate governance requires that the management develops frameworks, structures and guidance to manage enterprise risk. The traditional methods of mitigating risk has relied heavily on insurance as the only mean of protecting enterprise against risks. This is now becoming too expensive for corporations, and, is not able to cover all risk exposures. This forms the basis of the research problem in this study. The purpose and objective of this study is to establish alternative methods of mitigating risks in corporations and, develop models for computing benefits accruing to the corporations as a result of using the new alternative method. As such, this study identifies financial assets, sinking fund, ploughing back of premiums as possible investments where foregone insurance premiums can be invested and, develop a model for computing earnings resulting from such investments. This study applies Actuarial Theory, Financial Theory of Risk Transfer, Modigliani and Miller Theory and Agency Theory, and use both primary and secondary data collected from National Transport and Safety Authority, Kenya and Registrar of Motor vehicles, Kenya target populations, namely number of countries in Europe and North America and the number of insurance companies in Kenya. This study is of significance to the business communities, scholars and researchers, the government and the general public by: (1), providing a better understanding for designing and formulating risk management policy in their organizations, (2), providing mechanism for investing the foregone insurance premium and (3), strengthening knowledge and further research in this area. In summary this study is tenable and a better alternative to ever increasing insurance premiums.

scholarly journals The Effect of Good Corporate Governance and Premium Growth on the Performance of Insurance Companies

2017 ◽  
Vol 2 (2) ◽  
pp. 01-07
Author(s):  
Markonah Markonah ◽  
Achmad Sudiro ◽  
Surachman Surachman ◽  
Mintarti Rahayu
Keyword(s):  
Corporate Governance ◽  
Sampling Method ◽  
Stock Exchange ◽  
Insurance Premium ◽  
Jel Classification ◽  
Insurance Companies ◽  
Insurance Premiums ◽  
Insurance Sector ◽  
Existing Problems ◽  
Good Corporate Governance

Objective - Insurance companies in Indonesia are considered an important part of society by the Indonesian government. Corporate governance was a major problem during the post-financial crisis period, particularly in emerging markets in Indonesia. Financial Institutions considered the possibility of increasing insurance premiums to cover their operating costs and increase their profits. The purpose of this study is to measure the effect of corporate governance and premium growth on the performance of the insurance sector, to determine the characteristics of good corporate governance. Methodology/Technique - The samples used in this study include insurance companies listed on the Indonesia Stock Exchange between 2011 and 2015. The data used in the study is derived from the Indonesian Stock Exchange Corner. The method of analysis used is descriptive statistics and linear regression. The research objectives are to analyze the influence of the independent variables on the dependent variable. A purposive sampling method is used to determine the sample size of the study. This method generated a sample of 9 commercial insurance companies. Findings - The findings show that corporate governance is significantly and positively related to ROA whereas Insurance Premiums are not significantly related to ROA. Novelty - Study suggests that the insurance companies must aim to improve corporate governance structures by finding solutions to existing problems and improving the management structures of the company, in order to attract future investment which will ultimately lead to an increase in ROA and ROE. Type of Paper: Empirical Keywords: Corporate Governance; Insurance Premium; Corporate Performance; Growth. JEL Classification: G22, L25, M41

scholarly journals Factors Affecting Equity and Its Impact on Insurance Premium of General Insurance Companies in Indonesia

2018 ◽  
Vol 5 (2) ◽  
pp. 70
Author(s):  
M. Noor Salim ◽  
Sukarman Sukarman
Keyword(s):  
Capital Investment ◽  
Secondary Data ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Significant Positive Effect ◽  
Working Capital ◽  
Factors Affecting ◽  
General Insurance ◽  
Premium Income ◽  
Positive Effect

The phenomenon that was appointed to be the object of research was the decline in the percentage of premium income in general insurance companies in Indonesia while the equity value (capitalization) of the company increased. This study aims to determine the effect that occurs due to the influence of the variables of free working capital, investment, assets and equity on the acquisition of premiums. The research data is secondary data taken from the OJK website. Processing data using multiple linear regression methods, and using two sub-structure equation techniques because in this study using intervening variables. From the results of the study conclusions are as follows: Working capital does not have a significant positive effect on equity, investment has a significant positive effect on equity, assets do not have a significant effect on equity, working capital does not significantly influence the acquisition of premiums, investment does not significantly influence the acquisition of premiums, assets no significant effect on the acquisition of premiums, equity has a positive and significant effect on the acquisition of premiums. In this study, equity mediates the effect of working capital, investment, assets on the acquisition of premiums.

scholarly journals The Annual Premium of Life Insurance on The Joint-Life Status based on The 2011 Indonesian Mortality Table

2020 ◽  
Vol 3 (3) ◽  
pp. 263-270
Author(s):  
Stacia Litha Suryani ◽  
Rudi Ruswandi ◽  
Ahmad Faisol
Keyword(s):  
Interest Rates ◽  
Life Insurance ◽  
Equivalence Principle ◽  
Life And Death ◽  
Premium Payment ◽  
Life Chances ◽  
Force Of Mortality ◽  
Mortality Table ◽  
Annual Premium ◽  
Parent Child

Life insurance is insurance that protects against risks to someone's life. Joint Life Insurance is insurance where the life and death rules are a combination of two or more factors, such as husband-wife or parent-child, and if the first death occurs, then the premium payment process is stopped. The annual premium is the premium paid annually. In this study, the annual premium is calculated continuously with the equivalence principle based on the 2011 Indonesian Mortality Table.  The calculation shows that the amount of annual premiums for 2 (two) and 3 (three) people is not much different. The factors that influence the annual premium amount are the duration insurance period, age at signing the policy, interest rates, life chances, force of mortality, and the number of benefits.

scholarly journals The effect of insurance premiums, claims, underwriting results, on profitability with a risk-based minimum capital ratio (RBMC) as an intervening variable in general insurance companies

2021 ◽  
Vol 6 (1) ◽  
pp. 61
Author(s):  
Richad Alamsyah
Keyword(s):  
Indirect Effect ◽  
Linear Regression Analysis ◽  
Sample Selection ◽  
Secondary Data ◽  
Multiple Linear Regression Analysis ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Minimum Capital ◽  
Negative Effect ◽  
Positive Effect

This study aims to analyze factors that effect profitability (ROA) with insurance premium, claim and underwriting result as independent variabel and risk based capital ratio (MMBR) as an intervening variable on insurance companieswich operate in Indonesia from year 2011-2015. The sample selection was done by using purposive sampling method and based on predetermined criteria, then got sample which amounted to 72 companies. The data in this study was secondary data. Data processing is done by statistical analysis technique that is multiple linear regression analysis and sobel method for intervening test.The results of this study indicate that (1) Insurance premium has no effect on MMBR ratio, (2) claim insurance  has a negative effect on MMBR ratio, (3) Underwriting result has positive effect on MMBR ratio, (4) Insurance premium has positive effect on profitability, (5) claim insurance has a negative effect on profitability, (6) underwriting result has positive effect on profitability, (7) MMBR ratio has positive effect on profitability, (8) premium insurance, has no indirect effect on profitability through MMBR ratio. (9) claim insurance has no indirect effect on profitability through MMBR ratio, (10) underwriting result has no indirect effect on profitability through MMBR ratio.

scholarly journals PENENTUAN NILAI PREMI ASURANSI PERTANIAN BERBASIS INDEKS CURAH HUJAN PADA KOMODITAS KEDELAI YANG DISIMULASI MENGGUNAKAN DISTRIBUSI WEIBULL

2020 ◽  
Vol 9 (4) ◽  
pp. 257
Author(s):  
NI PUTU AYUNDA SURYA DEWI ◽  
KOMANG DHARMAWAN ◽  
KARTIKA SARI
Keyword(s):  
Insurance Premium ◽  
Weather Generator ◽  
Rainfall Data ◽  
Simulated Rainfall ◽  
Crop Failure ◽  
Agricultural Insurance ◽  
Stochastic Weather Generator ◽  
Insurance Premiums ◽  
Rainfall Index ◽  
Insurance Costs

Agricultural insurance protects farmers who experience crop failure. This study aims to calculate the value of agricultural insurance premium by applying simulated rainfall index-based using stochastic weather generator on soybean commodities in Negara sub-district. This study are used rainfall data to determine the probability of the transition, then perform rainfall simulations using the Stochastic Weather Generator method to obtain trigger values and continued with the calculation of agricultural insurance premiums. Results of this study provide the value that higher trigger is taken, the greater the insurance premium that must be paid. The value of insurance premiums to be paid is 4,18% - 5,66% of insurance costs Rp2.605.000,00.

scholarly journals Kedudukan Hukum Pemegang Polis Pada Perusahaan Asuransi yang Dinyatakan Pailit

2021 ◽  
Vol 2 (3) ◽  
pp. 520-525
Author(s):  
Ni Kadek Vikka Ayu Swandewi ◽  
Ni Luh Made Mahendrawati ◽  
I Putu Gede Seputra
Keyword(s):  
Research Method ◽  
Legal Protection ◽  
Secondary Data ◽  
Insurance Companies ◽  
Bankruptcy Law ◽  
Insurance Company ◽  
Human Need ◽  
Legal Position ◽  
Policy Holder ◽  
The Right

In this era of globalization, insurance has been considered as a basic need which is a human need for security. Insurance is a form of risk management that is formed with the aim of avoiding the possibility of an uncertain risk of loss. This study aims to examine the legal position of policyholders as creditors in insurance companies and to reveal the legal protection of policyholders in insurance companies that are declared bankrupt. This study uses a normative research method because there is still a conflict of norms, with the approach to legislation. The data is sourced from the opinions of legal scholars and data law. The data sources are primary and secondary data obtained through recording and documentation, then the data is processed using interpretation and descriptive. Based on the Bankruptcy Law and PKPU Article 1 number 2, creditors are parties who have receivables due to agreements or laws that can be collected in advance of services. In the context of the legal protection of the policyholder, the Insurance Act has regulated the existence of a policy guarantor institution in which the purpose of the establishment of a policy guarantee program is to guarantee the return of part or all of the rights of the policyholder. In the bankruptcy and liquidation of an Insurance Company, it is expected that the curator will pay attention to the right of the Policy Holder to obtain compensation from the bankruptcy assets of the Insurance Company.

scholarly journals Legal Protection Carried Out by the Financial Service Authority in a Dispute between Consumers and Insurance Companies in Indonesia

2018 ◽  
Vol 3 (1) ◽  
pp. 55-61
Author(s):  
Pujiyono ◽  
Sufmi Dasco Ahmad
Keyword(s):  
Dispute Resolution ◽  
Financial Services ◽  
Legal Protection ◽  
Secondary Data ◽  
Analytical Techniques ◽  
Financial Service ◽  
Insurance Companies ◽  
Data Types ◽  
Financial Service Authority ◽  
Litigation Process

This study aims to find out how the form of legal protection carried out by the Financial Service Authority towards consumers who experience disputes with insurance companies in Indonesia. This research is a normative legal research that is the prescriptive approach. The data are taken from secondary data types that consist of primary and secondary legal materials. Data collection techniques used are library studies, and the analytical techniques used are deductive by syllogism method. The result of the study shows that a form of repressive protections is carried out by the Financial Service Authority after a dispute between consumers and insurance services and a legal defense that contains many weaknesses. Settlement of disputes between consumers and Insurance Companies can be done through litigation/ court and non-litigation/ out of court settlement. In the litigation process through the Commercial Court. The non-litigation process that will carried out with the institution/ internal dispute resolution step, limited facilities through mediation that facilitated by Financial Services Authority and finally through the external dispute resolution or the arbitration institution.

scholarly journals PENERAPAN HUKUM MORTALITA MAKEHAM UNTUK PENENTUAN NILAI CADANGAN PREMI ASURANSI JOINT LIFE DENGAN METODE FACKLER

2020 ◽  
Vol 9 (3) ◽  
pp. 182
Author(s):  
MIFTAAHUL JANNAH ◽  
AGUS SUPRIATNA ◽  
RIAMAN RIAMAN
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Estimated Parameters ◽  
Premium Calculation ◽  
Mortality Table

Joint life insurance is life insurance with an amount of more than one person, where the benefits are paid when one of the insured dies. The possibility of insurance companies will suffer losses if the claims that occur are more than predicted, so the premium reserve calculation is required. In this study, reserves were calculated using the Fackler method based on the Indonesian Mortality Table 2011 and the Makeham Assumption Mortality Table. The Indonesian Mortality Table 2011 was analyzed for the estimated parameters contained in the Makeham Assumption Mortality Table. Then the premium calculation and premium reserve calculation are done using the Fackler method based on the Makeham Assumption Mortality Table and the comparison uses the Indonesian Mortality Table 2011. The results of the calculation of the premiums based on the Makeham Assumption Mortality Table are greater than using the Indonesia Mortality Table 2011, while the premium reserve results are greater using the Indonesian Mortality Table 2011 than using the Makeham Assumption Mortality Table. This is because the chances of survival based on the Makeham Assumption Mortality Table are smaller than the Indonesian Mortality Table 2011.

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