Earning like a Prof: Academic rank wage premia in Ústí nad Labem, Czechia

The article attempts to estimate the size of the wage premia fetched by ranked academics on the academic market in Ústí nad Labem, Czechia. We employed a large (anonymized) data set of contracts and wages of employees of a medium-sized regional public university in Ústí nad Labem. We used OLS regression in various specifications to determine the wage premia of all educational levels (mainly full professors over associate professors/ docents and associate professors/docents over assistant professors/PhDs) while controlling for many attributes (of employees or contracts) possibly affecting wage levels. The local context regarding the topic of this article is discussed as well. The results generally confirm the intuition and show a clear pattern of increasing wages with levels and ranks. Focusing predominantly on the academic ranks, the monthly premium of associate professors (docents) over PhDs seems to be somewhere between 5 and 6 thousand CZK (185 and 220 EUR), and the premium of full professors over associate professors to an average of around 4 thousand CZK (150 EUR). The latter premium, however, exhibits systematic variation across different schools within the university: in some it is insignificant (around 0), while in others it is rather large and averages around 8 thousand CZK (300 EUR).

THE NEED TO INTEGRATE ZAKAT AND WAKAF IN THE DEVELOPMENT OF MICRO TAKAFUL MODEL

Micro Takaful is an affordable alternative protection policy for those who cannot afford a high-end level protection policy. However, many in the low-income group do not own a personal or family protection policy because they cannot afford the monthly premium rates. Zakat and wakaf could become an alternative source of funds for developing micro takaful. This qualitative study intends to explain the need to integrate zakat funds and wakaf in order to develop micro takaful. Data were collected through semi-structured interviews involving three institutions, namely Syarikat Takaful Malaysia Keluarga Berhad, Muftis Office in the Federal Territories Islamic Religious Council and the Muftis Office in the Selangor Islamic Religious Council. Findings show that there are two major pressing needs for integrating zakat and wakaf, which are to provide a huge risk savings fund and to support an insufficient zakat fund and wakaf.

The Determination of Monthly Premium of Joint Term Health Insurance for Hospital Care

Hospital care is one of the insurance products giving compensation to the members by reimbursing the medicine and hospital care costs. According to the number of members in one insurance policy, health insurance is classified into two categories namely individual health insurance and joint health insurance. This article discusses the monthly premium of joint health insurance. The monthly premium of joint term health insurance is calculated before deciding the probability to facilitate hospital care for two or more people using The RP-2000 Combined Healthy Tables and joint life annuity. Based on the simulation, at the same benefit, the monthly premium that must be paid for joint health insurance is smaller than for individual health insurance because the premium for joint insurance are borne by some insured under the same insurance policy

Assessment of costs and insurance policies for referral treatment of equine colic

Colic is the most common emergency problem in horses. The aims of this study were to survey costs of different referral treatments and to review insurance policies relevant to horses with colic. Data were collected retrospectively from nine equine hospitals for case costs, categorised into four different outcomes: admitted and euthanased; euthanased during or immediately after surgery; medical treatment and survived more than 24 hours; and surgical treatment and survived more than 24 hours. Data from five UK equine insurance companies were extracted and analysed using a standardised case example. Costs were obtained for 108 cases. The mean cost for horses admitted and euthanased was £873.89 (range £459.72–£1471.51), and for surgical treatment and survival more than 24 hours was £6437.80 (range £3178.87–£9100.00). Insurance cover for veterinary fees ranged from £5000 to £7500, and monthly premium rates for a standardised case ranged from £27.06 to £47.06. The terms and conditions for the insurance policies ranged in length from 2098 to 17,701 words; Flesch Kincaid Reading Ease scores ranged from 21.6 to 57.7, indicating a high degree of complexity and low readability. This study highlights the complexity and challenges for decision-making in critical cases of colic.

Evidências do Prêmio do Mês do Dividendo no Mercado Acionário Brasileiro

We test the presence of the dividend month premium in the Brazilian stock market. This premium consists in the existence of abnormal returns when companies are predicted to issue a dividend. We build portfolios based on predicted dividends and estimate asset pricing multifactor models to check for the existence of returns not associated with risks. We present evidences of a positive monthly premium of about 1%, but results are less robust when we exclude low liquidity assets from the sample. Also, the effect is larger for small caps and assets with higher dividend yields.

PENENTUAN CADANGAN PREMI DENGAN PERHITUNGAN PROSPEKTIF UNTUK ASURANSI PENDIDIKAN

The purpose of this research is to get formula to calculate premium reserve value with prospective calculation for education insurance. This study examines the value of premium reserves for people aged 40 years with a coverage period of 17 years. In determining the value of premium reserve using the prospective calculation. It will be started by completing the value of the Indonesian Mortality Table 2011 using the interest rate of 6.5%, calculating the cash value of the benefit, the annuity value, the net annual premium value, and the net monthly premium value. The results of this study indicate that the value of premium reserves with a prospective calculation for benefits paid at the end of the year and the premium reserve value for benefits paid at the time the insured dies, its value with the value of the cash price set by the insurer at the end of year- 17 on the insurance contract.

BPJS Kesehatan dalam Perspektif Ekonomi Syariah

This article provides answer to the MUI statements that BPJS is inconsistent with the principles of sharia economics. First, a solution to avoid Gharar, where participants pay a monthly premium, but it is unclear how much they will receive.Second, the solution to avoid the element of gambling, where financial calculations can be profit or loss. Third, the solution of usury, when claims were received by participants of BPJS greater than the premium paid; therefore, it contains elements of usury and usury Fadl category. Meanwhile, when there is a delay of participants to pay premiums, BPJS establishes fines that is also included nasi'ah usury.DOI: 10.15408/ajis.v15i2.2859

PENENTUAN CADANGAN PREMI UNTUK ASURANSI PENDIDIKAN

This aims of this research is determine the insurance premium reserve for education with retrospective calculations and determine the premium reserves who acquired during the period of guarantee for insurance education. This research observes the premium reserve for persons aged 40 years with a coverage period of 17 years. The secondary data used is an education insurance data product from the insurance company that issued the insurance product. Premium reserve is determined by using the retrospective calculation, the calculation using the annuity value, net single premium value, net annual premiums, the value of net monthly premium, CSO 1980 mortality and fixed interest rate at 9%. Retrospective calculations produce a faster value backup and sequentially in each year. The results showed that the premium reserve with retrospective calculation should be close up to the cash price owned by insurance company and must be the same at the end of the insurance period is Rp 7.000.000,00.

PERUMUSAN PREMI BULANAN ASURANSI KESEHATAN INDIVIDU PERAWATAN RUMAH SAKIT (ANUITAS HIDUP PEMBAYARAN BULANAN)

This study calculates non renewable monthly premiums and renewable monthly premiums for health insurance. Formulations used in this study were derived from the equations used by Wilandari (2007). The monthly premium calculation uses a CSO mortality table and an interest rate of 6%. To illustrate the calculating of the premium it is assumed that a family consist of a father, a mother and a son, respectively with age 40, 36 and 9 years old. The results obtained were that the total premium is paid amounted to Rp. 155.02,00 every month for 20 years. Benefit for the cost of room, doctor visits, and the cost of care respectively were Rp. 200.000,00 per day, Rp. 75.000,00 per day and Rp. 4.000.000,00 per periode. Average duration of treatment was 180 days. The renewable monthly premium was paid in different amounts each year, with the range from Rp. 80.425,00 to Rp. 406.465,00. From this study, Although initially the renewable premium is cheaper than the non renewable premium, at the end it is more expensive than the non renewable premium. In this study it was obtained too that 12 times the monthly premium is greater than 1 times the annual premium.

No more Doubts about the Nature of Unit-Linked Products

Judgment of the Court (fifth Chamber) of 1 March 2012 (reference for preliminary ruling), Case C—166/11: Ángel Lorenzo González Alonso v Nationale Nederlanden Vida Cía. de Seguros y Reaseguros, S.A.E. (Spain)**A contract concluded away from business premises, under which life assurance is offered in return for payment of a monthly premium to be invested, in varying proportions, in fixed-rate investments, variable-rate investments and financial investment products of the company offering the contract, falls outside the scope of Council Directive 85/577/ EEC of 20 December 1985, to protect the consumer in respect to contracts negotiated away from business premises, in accordance with Article 3(2)(d) thereof (official headnote).