referring to responsible person by insurer after damage compensation is one of the important issues in insurance law. finding the jurisprudence basis of this reference regarding to islamic laws and jurisprudence sources is the objective of this article. subrogation with payment is rooted in french law and it is not stated in iranian law and its basis. according to an implicit condition in insur...

A risk model of a joint business (insurer/re-insurer) is studied in the Large Deviations (LD) regime. In the model considered, the premium paid by the insurer to the re-insurer changes if the insurer’s capital falls below a certain level P . An optimal premium arrangement for the both business participants is investigated. By a proper choice of parameters involved, it is possible to increase th...

In this paper we consider an extension of the two-dimensional risk model introduced in Avram, Palmowski and Pistorius (2008a). To this end, we assume that there are two insurers. The first insurer is subject to claims arising from two independent compound Poisson processes. The second insurer, which can be viewed as a different line of business of the same insurer or as a reinsurer, covers a pr...

BACKGROUND In a demand oriented health care system based on managed competition, health insurers have incentives to become prudent buyers of care on behalf of their enrolees. They are allowed to selectively contract care providers. This is supposed to stimulate competition between care providers and both increase the quality of care and contain costs in the health care system. However, health i...

Economic efficiency is improved in the presence of an implemented risk management program of the insurer. Risk management requirements are imposed by regulators to reduce the insurers’ insolvency risk, as well as to improve the insurance market stability. We extend the classical analysis on optimal insurance design to the case when the insurer implements regulatory requirements (Value-at-Risk)....

Contract-relevant information asymmetries are known to cause inefficien-cies in markets. The information asymmetry is largest in the beginning of the customerinsurer relationship but reduces over time; the longer a poli-cyholder stays with the insurer the more the insurer learns about the poli-cyholder’s risk. Two important characteristics of the market studied here imply that the information a...

Consolidation within the market for health insurance has generated significant concern that insurers are using monopsony power in a manner that is harmful to social welfare. This paper uses physician level survey data to ascertain if the ability of insurers to exercise monopsony power affects physician markets. Specifically, we look at the market for primary care physician services, and evaluat...

It is well-known that reinsurance can be an effective risk management technique for an insurer. An appropriate use of reinsurance reduces the adverse risk exposure of an insurer and improves the overall viability of the underlying business. The use of reinsurance, on the other hand, incurs additional cost to the insurer in the form of reinsurance premium. This implies that an insurer is faced w...