Download or read book Risk Adjustment Risk Sharing and Premium Regulation in Health Insurance Markets written by Thomas G McGuire and published by Academic Press. This book was released on 2018-08-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk Adjustment, Risk Sharing and Premium Regulation in Health Insurance Markets: Theory and Practice describes the goals, design and evaluation of health plan payment systems. Part I contains 5 chapters discussing the role of health plan payment in regulated health insurance markets, key aspects of payment design (i.e. risk adjustment, risk sharing and premium regulation), and evaluation methods using administrative data on medical spending. Part II contains 14 chapters describing the health plan payment system in 14 countries and sectors around the world, including Australia, Belgium, Chile, China, Columbia, Germany, Ireland, Israel, the Netherlands, Russia, Switzerland and the United States. Authors discuss the evolution of these payment schemes, along with ongoing reforms and key lessons on the design of health plan payment.
Download or read book The Economics Regulation and Systemic Risk of Insurance Markets written by Felix Hufeld and published by Oxford University Press. This book was released on 2017 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book brings together academics, regulators, and industry experts to provide a multifaceted array of research and perspectives on insurance, its role and functioning, and the potential systemic risk it could create.
Download or read book Morals and Markets written by Viviana A. Rotman Zelizer and published by Columbia University Press. This book was released on 2017-08-08 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Life insurance—the promise of an insurer to pay a sum upon a person's death in exchange for a regular premium—is a bizarre enterprise. How can we monetize human life? Should we? What statistics do we use, what assumptions do we make, and what behavioral factors do we consider? First published in 1979, Morals and Markets Is a pathbreaking study exploring the development of life insurance in the United States. Viviana A. Rotman Zelizer combines economic history and a sociological perspective to advance a novel interpretation of the life insurance industry. The book pioneered a cultural approach to the analysis of morally controversial markets. Zelizer begins in the mid-nineteenth century with the rise of the life insurance industry, a contentious chapter in the history of American business. Life insurance was stigmatized at first, denounced in newspapers and condemned by religious leaders as an immoral and sacrilegious gamble on human life. Over time, the business became a widely praised arrangement to secure a family's future. How did life insurance overcome cultural barriers? As Zelizer shows, the evolution of the industry in the United States matched evolving attitudes toward death, money, family relations, property, and personal legacy.
Download or read book COMPETITIVE FAILURES IN INSURANCE MARKETS written by PIERRE-ANDRE. CHIAPPORI and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of International Insurance written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2007-12-23 with total page 1000 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of International Insurance: Between Global Dynamics and Local Contingencies analyzes key trends in the insurance industry in more than 15 important national insurance markets that represent over 90 percent of world insurance premiums. Well-known academics from Europe, the Americas and Asia examine their own national insurance markets, including the competitive structure, product and service innovations, and regulatory developments. The book provides academics and executives with an unprecedented range of information about today’s insurance markets. This book also provides important 'new' information on the evolution of the financial sector worldwide and comprehensive chapters on reinsurance, Lloyd’s of London, alternative risk transfer, South and East Asian insurance markets, and European insurance markets. Setting the stage is an overview chapter by the editors focusing on overall conclusions on globalization.
Download or read book Insurance and Behavioral Economics written by Howard C. Kunreuther and published by Cambridge University Press. This book was released on 2013-01-28 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the behavior of individuals at risk and insurance industry policy makers involved in selling, buying and regulation.
Download or read book The Affordable Care Act written by Tamara Thompson and published by Greenhaven Publishing LLC. This book was released on 2014-12-02 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Patient Protection and Affordable Care Act (ACA) was designed to increase health insurance quality and affordability, lower the uninsured rate by expanding insurance coverage, and reduce the costs of healthcare overall. Along with sweeping change came sweeping criticisms and issues. This book explores the pros and cons of the Affordable Care Act, and explains who benefits from the ACA. Readers will learn how the economy is affected by the ACA, and the impact of the ACA rollout.
Download or read book Alternative Risk Transfer written by Erik Banks and published by John Wiley & Sons. This book was released on 2004-03-05 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical approach to ART-an alternative method by which companies take on various types of risk This comprehensive book shows readers what ART is, how it can be used to mitigate risk, and how certain instruments/structures associated with ART should be implemented. Through numerous examples and case studies, readers will learn what actually works and what doesn't when using this technique. Erik Banks (CT) joined XL Capital's weather/energy risk management subsidiary, Element Re, as a Partner and Chief Risk Officer in 2001.
Download or read book Imperfect Insurance Markets written by Annette Hofmann and published by VVW GmbH. This book was released on 2009 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of this thesis is on consumer diversity. Incorporating consumer heterogeneity into economic analysis is well-established in industrial organization literature; this aspect is, however, often neglected in microeconomic insurance models. A first new approach lies in analyzing risk interdependencies. When risks are interdependent, an agent's decision to self-protect affects the loss probabilities faced by others. Due to these externalities, economic agents invest too little in prevention relative to the socially efficient level by ignoring marginal external costs or benefits conferred on others. We analyze an insurance market with externalities of loss prevention. It is shown in a model with heterogenous agents and imperfect information that a monopolistic insurer can achieve the social optimum by engaging in premium discrimination. An insurance monopoly reduces not only costs of risk selection, but may also play an important social role in loss prevention. This result can be empirically confirmed. We also deal with the impact of intermediation on insurance market transparency and performance. In a differentiated insurance market under imperfect information, uninformed consumers may become informed about product suitability by consulting an intermediary. We analyze current broker compensation systems: commissions and fees. While insurers' equilibrium profits are equivalent under both systems, social welfare under fees is first-best efficient. Both systems may offer the opportunity to increase profits via collusion. Under a commission system, collusion enables insurers to separate consumers into groups purchasing different contracts. Insurers may then extract additional rents from some consumers. This might explain why intermediaries tend to be compensated by insurers in practice. Finally, we study optimal monopoly pricing given imperfect information and heterogenous policyholders. Die in englischer Sprache verfasste Arbeit ist der mikroökonomischen Analyse von Versicherungsmärkten gewidmet. Zunächst werden einige wichtige theoretische Grundlagen der Versicherungsnachfragetheorie beschrieben. Eine zentrale Erweiterung des Basismodells stellen interdependente Risiken dar. Bestehen Risikointerdependenzen, so sind alle Maßnahmen, die die Schadenshäufigkeit reduzieren, mit positiven externen Effekten verbunden. Es wird gezeigt, dass im Gleichgewicht das realisierte Präventionsniveau unterhalb des optimalen Niveaus angesiedelt ist. Aufgrund der Externalitäten kommt es zu einem Marktversagen und nur ein Monopolversicherer kann eine differenzierte Prämienstruktur herbeiführen, die zum optimalen Präventionsniveau führt. Dieses Ergebnis kollidiert mit dem Ergebnis, dass wettbewerbliche Versicherungsmärkte zu einer höheren Gesamtwohlfahrt führen, es lässt sich jedoch empirisch stützen. Ein weiterer Schwerpunkt der Arbeit liegt auf unvollkommenen Versicherungsmärkten, wobei heterogene Versicherungsnachfrager mit unterschiedlichen Produktpräferenzen und Informationskosten unterstellt werden. In einem solchen Markt erhöhen Versicherungsvermittler die Markttransparenz und damit auch die Gewinne der Versicherer. Im Mittelpunkt steht die Analyse verschiedener Vergütungsformen der Vermittler. Ein Vergütungssystem auf Basis von Beratungshonoraren ist einem Provisionssystem aus wohlfahrtsökonomischer Perspektive vorzuziehen. Aus Sicht der Versicherer kehrt sich dieses Ergebnis allerdings um, sobald es zur Kollusion zwischen Versicherern und Vermittlern kommt. Der letzte Schwerpunkt liegt in der Analyse einer optimalen Preispolitik eines Versicherungsmonopolisten bei heterogenen Nachfragern, die sich durch ihre Risikopräferenzen und damit ihre individuelle Zahlungsbereitschaft für Versicherungen unterscheiden.
Download or read book State Health Insurance Market Reform written by Joel C. Cantor and published by Routledge. This book was released on 2012-09-25 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading American health economists provide a critical assessment of the current state of knowledge of insurance market reform that is accessible to both policy-makers and researchers.
Download or read book Public Insurance and Private Markets written by Jeffrey R. Brown and published by AEI Press. This book was released on 2010-07-16 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Insurance and Private Markets offers market-based guidelines for the proper scope of government intervention and the design of public insurance programs_guidelines that will benefit the U.S. economy and protect the resources of future generations.
Download or read book Agricultural Risk Transfer written by Roman Marco Hohl and published by John Wiley & Sons. This book was released on 2019-03-25 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gain a holistic view of agricultural (re)insurance and capital market risk transfer Increasing agricultural production and food security remain key challenges for mankind. In order to meet global food demand, the Food and Agriculture Organisation estimates that production has to increase by 50% by 2050 and requires large investments. Agricultural insurance and financial instruments have been an integral part to advancing productivity and are becoming more important in increasingly globalized and specialized agricultural supply chains in the wake of potentially more frequent and severe natural disasters in today’s key producing markets. Underwriting, pricing and transferring agricultural risks is complex and requires a solid understanding of the production system, exposure, perils and the most suitable products, which vastly differ among developed and developing markets. In the last decade, new insurance schemes in emerging agricultural markets have greatly contributed to the large growth of the industry from a premium volume of US$10.1 billion (2006) to US$30.7 billion (2017). This growth is bound to continue as insurance penetration and exposure increase and new schemes are being developed. Agricultural (re)insurance has become a cornerstone of sovereign disaster risk financing frameworks. Agricultural Risk Transfer introduces the main concepts of agricultural (re)insurance and capital market risk transfer that are discussed through industry case studies. It also discusses best industry practices for all main insurance products for crop, livestock, aquaculture and forestry risks including risk assessment, underwriting, pricing, modelling and loss adjustment. Describes agricultural production risks and risk management approaches Covers risk transfer of production and financial risks through insurance and financial instruments Introduces modelling concepts for the main perils and key data sources that support risk transfer through indemnity- and index-based products Describes risk pricing and underwriting approaches for crop, livestock, aquaculture and forestry exposure in developed and developing agricultural systems Become familiar with risk transfer concepts to reinsurance and capital markets Get to know the current market landscape and main risk transfer products for individual producers, agribusinesses and governments through theory and comprehensive industry case studies Through Agricultural Risk Transfer, you’ll gain a holistic view of agricultural (re)insurance and capital market solutions which will support better underwriting, more structured product development and improved risk transfer.
Download or read book Care Without Coverage written by Institute of Medicine and published by National Academies Press. This book was released on 2002-06-20 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many Americans believe that people who lack health insurance somehow get the care they really need. Care Without Coverage examines the real consequences for adults who lack health insurance. The study presents findings in the areas of prevention and screening, cancer, chronic illness, hospital-based care, and general health status. The committee looked at the consequences of being uninsured for people suffering from cancer, diabetes, HIV infection and AIDS, heart and kidney disease, mental illness, traumatic injuries, and heart attacks. It focused on the roughly 30 million-one in seven-working-age Americans without health insurance. This group does not include the population over 65 that is covered by Medicare or the nearly 10 million children who are uninsured in this country. The main findings of the report are that working-age Americans without health insurance are more likely to receive too little medical care and receive it too late; be sicker and die sooner; and receive poorer care when they are in the hospital, even for acute situations like a motor vehicle crash.
Download or read book Foundations of Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 1992 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Download or read book Stabilizing Insurance Markets for Coastal Consumers written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Handbook of Global Trade Policy written by Andreas Klasen and published by John Wiley & Sons. This book was released on 2023-01-04 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a state-of-the-art overview of international trade policy research The Handbook of Global Trade Policy offers readers a comprehensive resource for the study of international trade policy, governance, and financing. This timely and authoritative work presents contributions from a team of prominent experts that assess the policy implications of recent academic research on the subject. Discussions of contemporary research in fields such as economics, international business, international relations, law, and global politics help readers develop an expansive, interdisciplinary knowledge of 21st century foreign trade. Accessible for students, yet relevant for practitioners and researchers, this book expertly guides readers through essential literature in the field while highlighting new connections between social science research and global policy-making. Authoritative chapters address new realities of the global trade environment, global governance and international institutions, multilateral trade agreements, regional trade in developing countries, value chains in the Pacific Rim, and more. Designed to provide a well-rounded survey of the subject, this book covers financing trade such as export credit arrangements in developing economies, export insurance markets, climate finance, and recent initiatives of the World Trade Organization (WTO). This state-of-the-art overview: Integrates new data and up-to-date research in the field Offers an interdisciplinary approach to examining global trade policy Introduces fundamental concepts of global trade in an understandable style Combines contemporary economic, legal, financial, and policy topics Presents a wide range of perspectives on current issues surrounding trade practices and policies The Handbook of Global Trade Policy is a valuable resource for students, professionals, academics, researchers, and policy-makers in all areas of international trade, economics, business, and finance.
Download or read book Health Care Utilization as a Proxy in Disability Determination written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-04-02 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Social Security Administration (SSA) administers two programs that provide benefits based on disability: the Social Security Disability Insurance (SSDI) program and the Supplemental Security Income (SSI) program. This report analyzes health care utilizations as they relate to impairment severity and SSA's definition of disability. Health Care Utilization as a Proxy in Disability Determination identifies types of utilizations that might be good proxies for "listing-level" severity; that is, what represents an impairment, or combination of impairments, that are severe enough to prevent a person from doing any gainful activity, regardless of age, education, or work experience.
