Download or read book Enterprise Risk Analysis for Property Liability Insurance Companies written by Paul J. Brehm and published by Guy Carpenter & Company C2007. This book was released on 2007 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Enterprise Risk Management and Diversification Effects for Property and Casualty Insurance Companies written by Jing Ai and published by . This book was released on 2014 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk, and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. We find that ERM quality, as measured by S&P ERM ratings from 2006-2012, has a strong positive affect on ROA and Tobin's Q for P&C insurers. In contrast to previous studies that have found that diversified firms suffer a value discount relative to their more focused peers, the results of this study suggest that, after controlling for ERM quality, business line diversification is associated with a performance premium whereas geographic diversification is not a significant factor.

Download or read book Strategic Planning and Modeling in Property Liability Insurance written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Geneva Association and Risk Economics The Geneva Association The Geneva Association (International Association for the Study of Insurance Economics) commenced its activities in June 1973, on the initiative of twenty-two members in eight European countries. It now has fifty-four members in sixteen countries in Europe and in the United States. The members of the association are insurance companies which provide financial support for its activities. The aims and strategy of the Geneva Association were clearly defined in 1971 by the founding committee. They were set forth in the first report to the Assembly of Members in 1974: "To make an original contribution to the progress of insurance by objective studies on the interdependence between economics and insurance." In pursuit of this objective, the Association strives to place insurance problems in the context of the modern economy and to overcome the antagonism between different groups and institutions by showing that they all have a common interest in tackling the problem of risk in a changing world. In consequence, the studies made by the Association had to move away from the subjects familiar to insurance professionals and explore related fields, dealing with opinions and behavior falling outside the profession's vii FOREWORD viii traditional framework of analysis. It is in this direction that the Association's preoccupations have been directed from the beginning, towards areas in which insurance activities come into contact with those of other economic sectors such as government, banking, manufacturing, and households.

Download or read book Risk Management for Enterprises and Individuals written by Baranoff and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Value Oriented Risk Management of Insurance Companies written by Marcus Kriele and published by Springer Science & Business Media. This book was released on 2014-01-14 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value-oriented Management of Risk in Insurance focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have a basic knowledge of probability and familiarity with mathematical concepts. It is intended for working actuaries and quantitative risk managers as well as actuarial students.

Download or read book Asset Liability Management and Enterprise Risk Management of an Insurer written by Thomas S.Y. Ho and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk management techniques used in banks and trading floors are generally not applicable to insurance companies. Risk measures and risk monitoring approaches must be developed to respond to the challenges to the insurance industry. This paper describes the current risk management practices for both life and general insurance businesses, and proposes the corporate model approach that extends the present approaches to provide corporate management solutions, enterprise risk management in particular, for insurers.

Download or read book A Comparative Analysis of Government Regulation of Property liability Insurance in Selected Countries and the United States written by Samuel H. Weese and published by . This book was released on 1980 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-12-02 with total page 1133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Download or read book Risk Management and Insurance written by Finance and Sun and published by Finance and Sun . This book was released on with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book also covers emerging risks such as cybersecurity, climate change, and pandemics, as well as technological advancements in risk management and insurance. It provides insights into the ethical considerations and professional standards that govern the industry, as well as the international regulations and standards that insurance companies must comply with. With real-world case studies and examples, the book provides practical guidance on how to manage risk and effectively use insurance products and services. It also explores the evolution of insurance products and services, including the expansion of product lines, customization and personalization, digitalization, and value-added services. If you are a risk management professional, insurance industry practitioner, or simply someone interested in learning more about risk management and insurance, “this” is an invaluable resource that will enhance your understanding of this complex andThe book also covers emerging risks such as cybersecurity, climate change, and pandemics, as well as technological advancements in risk management and insurance. It provides insights into the ethical considerations and professional standards that govern the industry, as well as the international regulations and standards that insurance companies must comply with. With real-world case studies and examples, the book provides practical guidance on how to manage risk and effectively use insurance products and services. It also explores the evolution of insurance products and services, including the expansion of product lines, customization and personalization, digitalization, and value-added services. If you are a risk management professional, insurance industry practitioner, or simply someone interested in learning more about risk management and insurance, this is an invaluable resource that will enhance your understanding of this complex and ever-changing field. ever-changing field.

Download or read book Audits of Property and Liability Insurance Companies written by American Institute of Certified Public Accountants. Insurance Companies Committee and published by . This book was released on 2002 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managing the Insolvency Risk of Insurance Companies written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two different applications have been considered, automobile claims from Massachusetts and health expenses from the Netherlands. We have fit 11 different distributions to these data. The distributions are conveniently nested within a single four parameter distribution, the generalized beta of the second type. This relationship facilitates analysis and comparisons. In both cases the GB2 provided the best fit and the Burr 3 is the best three parameter model. In the case of automobile claims, the flexibility of the GB2 provides a statistically siE;nificant improvement in fit over all other models. In the case of Dutch health expenses the improvement of the GB2 relative to several alternatives was not statistically significant. * The author appreciates the research assistance of Mark Bean, Young Yong Kim and Steve White. The data used were provided by Richard Derrig of The Massachusetts Automobile Rating and Accident Prevention Bureau and by Bob Van der Laan and The Silver Cross Foundation for the medical insurance claim data. 2~ REFERENCES Arnold, B. C. 1983. Pareto Distributions. Bartonsville: International Cooperative Publishing House. Cummins, J. D. and L. R. Freifelder. 1978. A comparative analysis of alternative maximum probable yearly aggregate loss estimators. Journal of Risk and Insurance 45:27-52. *Cummins, J. D., G. Dionne, and L. Maistre. 1987. Application of the GB2 family of distributions in collective risk theory. University of Pennsylvania: Mimeographed manuscript. Hogg, R. V. and S. A. Klugman. 1983. On the estimation of long tailed skewed distributions with actuarial applications.

Download or read book Risk Management of Property liability Insurance Companies written by Nickolai Pavlov Stanev and published by . This book was released on 1996 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Risk Management and Product Design for Insurance Companies written by Susan Conant and published by Loma. This book was released on 2008-01-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the management issues surrounding enterprise risk management, capital, product development, and product design for life insurance and annuities.

Download or read book Managing Environmental Risk Through Insurance written by Paul K. Freeman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can insurance be used as a means to obtain compliance with environmental policy? Answering this question requires examination of a broad mosaic of academic issues, including current systems available for providing compensation and deterrence, use of contracts (including insurance) as substitutes for tort law, limitations of regulatory policy-making by government agencies, pre-conditions for creation of insurance products, and market mechanisms necessary for insurance to be purchased or sold. The purpose of Managing Environmental Risk Through Insurance is to highlight the potential role that insurance and performance standards can play in managing environmental risk. Insurance can play a significant role in dealing with one of the most problematic issues facing society today - how to compensate for environmental exposures. This book analyzes the ability of insurance to play a role in managing environmental risk. It begins by outlining the role insurance plays in society in contrast to other societal tools for addressing risk: government benefit programs and imposition of involuntary liability using the court system. By so doing, the book describes the comparative advantages of insurance. The book then analyzes the insurability of the risks. Finally, the book applies the insurability analysis to three concrete environmental examples.

Download or read book Risk Modeling for Appraising Named Peril Index Insurance Products written by Shadreck Mapfumo and published by World Bank Publications. This book was released on 2017-04-13 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Named peril index insurance has great potential to address unmet risk management needs for agricultural insurance in developing economies, potentially contributing to increased agricultural sustainability and improved food security. However, the development and appraisal of index insurance business lines is not without challenges. Insurers must rigorously evaluate the quality of the products they offer and take care to ensure that distributors and policyholders understand the benefits and limits of the purchased coverage. Without these important steps to ensure responsible insurance practices, insurers can damage the implementation and potential of index insurance in the market. Risk Modeling for Appraising Named Peril Index Insurance Products: A Guide for Practitioners helps stakeholders in the named peril index insurance industry appraise new and existing products. Part 1 of the guide provides a summary of the insights and decisions required for the insurer to make an informed decision to launch and expand an index insurance business line. Insurance managers are the primary audience for part 1. Part 2 provides a step-by-step guide to calculating the decision metrics used by the insurance manager in part 1. These metrics are calculated using probabilistic modeling that provides insights into risks related to the index insurance product. Actuarial analysts are the primary audience for part 2. In an increasingly competitive insurance market, creative product development and imaginative business strategies are becoming the norm. This guide will help emerging market insurers who seek to stay on the cutting edge to successfully and sustainably penetrate new market segments.

Download or read book CGL Policy Handbook written by Britton D. Weimer and published by Wolters Kluwer. This book was released on 2011-12-13 with total page 962 pages. Available in PDF, EPUB and Kindle. Book excerpt: CGL Policy Handbook, Second Edition offers plain-language analysis of the complex points of the CGL policy language and case law, focusing on issues where the terminology is subject to more than one interpretation. Whether you represent policyholders or insurers, you'll find the practical guidance you need to resolve coverage issues faster and prepare or defend claims more effectively. This comprehensive manual provides outstanding analysis of how CGL policy may integrate with many other primary liability policies and umbrella policies and offers helpful guidance for determining when specialized insurance policies or endorsements may need to be supplemented. Recent updates include discussion of many recent developments and adds significant new case law on a number of critical issues including: Enterprise risk management The insurance aftermath of September 11, 2001 Property damage Intentional damage exclusion Polluted related exclusions Employment related exclusions Motor vehicle exclusions andquot;Expansive riskandquot; exclusions Personal injury Advertising injury There's simply no more comprehensive or current research tool in this fast-changing area of the law!

Download or read book Risk Analysis And Compliance Checking of Business Rules In Insurance By Using of Process Mining Technique Case Study written by Ameneh Khadivar and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Objective: Nowadays, Organizations have adopted process-driven approaches in order to improve their operations. Process identification and refining them in organizations is essential to save time and reduce costs. Process management, enterprise risk management and compliance checking with the rules are of the main challenges of today's process-oriented organizations, especially insurance companies. Today, insurance has made tremendous progress in our society. In the meantime, the process mining helps insurers identify the existing process and understand the extent of noncompliance with business rules.Methodology: This study aims to identify the existing process and understand the extent of non-compliance with the business rules timely by using Process Mining technique through PMPM implementation methodology, conducted in one of the active insurance companies of Iran.Finding: In this study, the process has been visualized using existed event logs registered in the organization's information systems. Then, by applying ProM software, business processes are analyzed, the sequences of the activities related to the process are reviewed regarding selected business rules and finally some improving suggestions for process improvement are presented.Conclusion: Generally, this case study gives some new insights which can be propose to process analyst in the finance area. This approach can be used in parallel with the other control and audit methods as well as performance improvement of information system in order to diminish operational risks. Therefore, it can create a useful insight by presenting a timely rule-based process analysis in a short-term.