Rapid growth in heavy-tailed claim severity in commercial liability insurance requires insurer response by way of flexible mechanisms to update premiums. To this end in this paper a new premium principle is established for heavy-tailed claims, and its properties investigated. Risk-neutral premiums for heavy-tailed claims are consistently and unbiasedly estimated by the ratio of the first two ex...

insurance play very important role on economic growth and development of the country.  it's stability depends on their customer's satisfaction. this paper wants to answer this question that which strategies in insurance industry is customer oriented and what kind of structure we need to attain this in this research not only present approaches used but also studies and experiences in i...

This article examines the welfare consequences of moral hazard, and brings together several arguments suggesting that, in many cases, the additional consumption associated with health insurance could be welfare enhancing. Since conditions for maximum economic efficiency fail to hold in the market for medical care, the theory of the second best is useful. We focus on three efficiency-related rea...

background: the iranian healthcare system is primarily an insurance based system. this structure has an important influence on the efficiency and equity of the provision of healthcare in iran. this paper reviews the history of the iranian healthcare system and the impact of the iranian health insurance system on healthcare performance based on the results of interviews with key opinion leaders ...

This study is conducted to measure the actual efficiency comparison of life insurance company between Bangladesh and Malaysia. Total 15 life insurance companies’ were selected for the study where 10 conventional life insurance companies’ from Bangladesh and 5 Takaful lifeinsurance companies’ from Malaysia. Authors tried toindicate the problems and way to get exact solutions by using Data Envelo...

This is correct if efficiency is defined in terms of labor effort, as the landlord’s share operates like a tax on the returns to a tenant’s effort. However, sharecropping provides insurance to the tenant against fluctuations in crop yield arising from reasons beyond his control, so if this insurance effect is incorporated also in the notion of efficiency then they need not be less efficient tha...

During the recent 100 years, the third technological revolution has promoted the development of computer technology dramatically, which thus has brought a great change in the economic society of human beings such as economics structure, employment direction, the form of international economic and the form of business. Besides, new concepts and ideas have been brought into the mode of production...