The scope of this paper is to analyse duration as a risk measure of life insurance liabilities from traditional life insurance products using a simple model to assess the problem. First, the liabilities are defined. Then the concept of Macauley duration as a measure for interest rate risk with respect to life insurance liabilities is derived. This concept is discussed with respect to its useful...

We demonstrate the existence of multiple dimensions of private information in the long-term care insurance market. Two types of people purchase insurance: individuals with private information that they are high risk and individuals with private information that they have strong taste for insurance. Ex post, the former are higher risk than insurance companies expect, while the latter are lower r...

R I reviewed the minutes for the Association of Life Insurance Medical Directors (ALIMD) for 1889. These recorded the original organizational meeting of the group. Life insurance or assurance had started in this country in the early 1840s. Initially, the companies were mutual companies, owned by the policy holders and often dedicated to serving a specific clientele. The major risk in insuring t...

While data theft and cyber risk are major threats facing organizations, existing research suggests that most organizations do not have sufficient protection to prevent data breaches, deal with notification responsibilities, and comply with privacy laws. This article explores how insurance companies play a critical, yet unrecognized, role in assisting organizations in complying with privacy laws...

Independent, or demand, guarantees are strong securityinstruments. They designed to secure the properperformance of contractual obligations in commercialtransactions. In South Africa, independent guaranteesare a common feature construction projects where theinterests any main parties (that is, contractoror employer) may conceivably be secured. Essentially,independent constitute an undertaking b...