The use of personalization mechanisms should allow the insurance distributor to reduce exploration costs and adjust offered product needs, features, situation each individual client. This study seeks examine how liability be allocated when process an does not result in client’s choice optimal product. First, we identify typical uses new technologies allowing for adjustment contracts. Second, an...

This paper investigates the probability of ruin within finite horizon for a discrete time risk model, in which the reserve of an insurance business is currently invested in a risky asset. Under assumption that the risks are heavy tailed, some precise estimates for the finite time ruin probability are derived, which confirm a folklore that the ruin probability is mainly determined by whichever o...

Agro-meteorological index insurance can transfer the risks in the agricultural production, reduce the farmers' economic losses, and promote a sustainable development of agricultural production. However, traditional agricultural insurance with a single rate has the problems of the presence of adverse selection, the difficulty of determining premium rates and assessing the claims. As a new agricu...

On the one hand, insurance market is no different from other markets, as it has entities, supply, demand, price and "product" (sale of security). Still, on specific in relation to all markets; subject sale a risk that may or not be realized future. Insurance form management, primarily moderate reduce financial losses transfer insured company, with premium payment. The security its own branch in...

An unlikely combination’/Hardly; the demanding but diverse medical world of the U.S. Air Force (USAF) Flight Surgeon and the insurance medical director share similar roles in assessing their clients health and fitness, on the one hand for flying and world-wide duty and on the other to enhance the quality, accuracy and timeliness of the insurance underwriting process. The current epidemic of car...

In OECD countries, medicines spending accounts for approximately 17% of total health spending or 1.5% of gross domestic product (GDP) [1]. New technologies and pharmaceuticals have been important contributors to rising health care costs. At the same time, patients may not have access to cost–effective medicines because of lack of health insurance coverage, limited insurance benefits, high medic...

Each year over 100,000 injuries and deaths are attributable to work-related falls. According to the National Safety Council, falls are one of the leading causes of deaths in the workplace. In addition to permanent injuries and lost lives caused by falls, businesses lose billions of dollars each year from significant increases in insurance premiums, workers’ compensation claims, product liabilit...

The paper examines the nature of health insurance contracts when insurance companies pool highand low-risk individuals. In a spatial product differentiation model, the normal forces of competition induce quality provision, but selection incentives induce insurers to under-provide quality. To offset selection incentives, the government can reimburse some of the insurers’ costs. However, such a s...