supervision of insurance in all states is carried out for the purpose of development and evolution of insurance market. however, the method and field of supervision is different in states in relation to time and law and national development structure. the function of insurance in relation to creation of security and continuance of economic and social activities and development of social justice...

This paper presents applications of stochastic control theory in determining an insurer's optimal reinsurance and rating policy. Optimality is defined by means of variances of such variables as underwriting result of the insurer, solvency margins of the insurer and reinsurer and the premiums paid by policyholders.

BACKGROUND Tort law has legitimate social purposes of deterrence, punishment and compensation, but medical tort law does none of these well. Tort law could be counterproductive in medicine, encouraging costly defensive practices that harm some patients, restricting access to care in some settings and discouraging innovation. DISCUSSION Patients might be better served by purchasing combined he...

We consider an insurer who faces an external jump-diffusion risk that is negatively correlated with the capital returns in the financial market. We assume not only the financial market but also the risk process depend on the regime of the economy. The insurer selects investment and liability ratio policies continuously to maximize its expected utility of terminal wealth. We obtain explicit solu...

OBJECTIVE To promote managed competition in Dutch health insurance, the insured are now able to change health insurers. They can choose a health insurer with a low flat-rate premium, the best supplementary insurance and/or the best service. As we do not know why people prefer one health insurer to another, we investigated their reasons for selecting their health insurer and assessed the importa...

The impact of information distribution on optimal risk-sharing between different parties has been an important field of research over the past 30 years. In the literature of insurance, however, the focus has remained essentially on one configuration: insurers (the principal) propose a contract to insured (the agent), but are unable to observe perfectly the risk of their insured who can. This as...

Assume that the surplus of an insurer follows a jump­diffusion process and the insurer would invest its surplus in a risky asset, whose prices are modelled by a geometric Brow­ nian motion. The resulting surplus for the insurer is called as a jump­diffusion surplus process compounded by the geometric Brownian motion. In this resulting surplus process, ruin may be caused by a claim or by oscilla...

The problem of optimal investment for an insurance company attracts more attention in recent years. In general, the investment decision maker of the insurance company is assumed to be rational and risk averse. This is inconsistent with non fully rational decision-making way in the real world. In this paper we investigate an optimal portfolio selection problem for the insurer. The investment dec...