Managing The Insolvency Risk Of Insurance Companies
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Author | : J. David Cummins |
Publisher | : Springer Science & Business Media |
Total Pages | : 334 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9401138788 |
Download Managing the Insolvency Risk of Insurance Companies Book in PDF, Epub and Kindle
Two different applications have been considered, automobile claims from Massachusetts and health expenses from the Netherlands. We have fit 11 different distributions to these data. The distributions are conveniently nested within a single four parameter distribution, the generalized beta of the second type. This relationship facilitates analysis and comparisons. In both cases the GB2 provided the best fit and the Burr 3 is the best three parameter model. In the case of automobile claims, the flexibility of the GB2 provides a statistically siE;nificant improvement in fit over all other models. In the case of Dutch health expenses the improvement of the GB2 relative to several alternatives was not statistically significant. * The author appreciates the research assistance of Mark Bean, Young Yong Kim and Steve White. The data used were provided by Richard Derrig of The Massachusetts Automobile Rating and Accident Prevention Bureau and by Bob Van der Laan and The Silver Cross Foundation for the medical insurance claim data. 2~ REFERENCES Arnold, B. C. 1983. Pareto Distributions. Bartonsville: International Cooperative Publishing House. Cummins, J. D. and L. R. Freifelder. 1978. A comparative analysis of alternative maximum probable yearly aggregate loss estimators. Journal of Risk and Insurance 45:27-52. *Cummins, J. D., G. Dionne, and L. Maistre. 1987. Application of the GB2 family of distributions in collective risk theory. University of Pennsylvania: Mimeographed manuscript. Hogg, R. V. and S. A. Klugman. 1983. On the estimation of long tailed skewed distributions with actuarial applications.
Author | : Nigel Davies |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2003-07-01 |
Genre | : Business & Economics |
ISBN | : 1451856008 |
Download Insurance and Issues in Financial Soundness Book in PDF, Epub and Kindle
This paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.
Author | : Douglas G. Olson |
Publisher | : |
Total Pages | : 172 |
Release | : 1970 |
Genre | : Automobile insurance |
ISBN | : |
Download Insolvencies Among Automobile Insurers Book in PDF, Epub and Kindle
Author | : Greg Niehaus |
Publisher | : |
Total Pages | : 51 |
Release | : 2014 |
Genre | : |
ISBN | : |
Download Managing Capital and Insolvency Risk Via Internal Capital Market Transactions Book in PDF, Epub and Kindle
Understanding the movement of capital between insurers and affiliated companies under common ownership is important for understanding insurer insolvency risk and the impact of regulatory policies regarding capital standards and group supervision. Aggregate data indicate that life insurers received substantial internal capital contributions from other entities in their group and decreased the internal shareholder dividends paid during the financial crisis. Panel data estimates indicate that, on average, a dollar decrease in net income when net income is negative is associated with a $0.32 increase in capital contributions from other entities in the group, and that a dollar increase in net income when net income is positive is associated with a $0.56 increase in the amount of internal shareholder dividends paid by the insurer to other entities in the group. Also, insurers with low (high) risk-based capital ratios receive more (less) internal capital contributions than other insurers. While the sensitivity of internal capital movements to performance and capitalization is concentrated in groups with a large number of affiliates, insurers in these groups do not on average, holding other factors constant, have lower capital or lower liquidity ratios than insurers in groups with less active internal capital markets.
Author | : Felix Hufeld |
Publisher | : Oxford University Press |
Total Pages | : 247 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 0198788819 |
Download The Economics, Regulation, and Systemic Risk of Insurance Markets Book in PDF, Epub and Kindle
The book brings together academics, regulators, and industry experts to provide a multifaceted array of research and perspectives on insurance, its role and functioning, and the potential systemic risk it could create.
Author | : École de management (Lyon) |
Publisher | : |
Total Pages | : 30 |
Release | : 2008 |
Genre | : |
ISBN | : |
Download On the Bankruptcy Risk of Insurance Companies Book in PDF, Epub and Kindle
Author | : René Doff |
Publisher | : |
Total Pages | : 322 |
Release | : 2011 |
Genre | : Insurance companies |
ISBN | : 9781906348618 |
Download Risk Management for Insurers Book in PDF, Epub and Kindle
This fully updated user-friendly second edition will quickly help you get to grips with risk management terms and techniques, and how they relate specifically to the insurance industry. It also demonstrates how Solvency II is already shaping the regulatory agenda and its likely impact on the insurance industry.
Author | : J. David Cummins |
Publisher | : Springer Science & Business Media |
Total Pages | : 198 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9401122083 |
Download Financial Management of Life Insurance Companies Book in PDF, Epub and Kindle
th This book is published to commemorate the 50 Anniversary of the S.S. Huebner Foundation for Insurance Education. Administered at the Wharton School of the University of Pennsylvania, the Huebner Foundation was established in 1941 to strengthen insurance education at the collegiate level by increasing the number of professors specializing in insurance and enriching the literature in the field. The financial support of leading life insurance companies has enabled the Foundation to provide post-graduate education for prospective insurance teachers and scholars. Through its fellowship program, the Foundation supports students in the Ph.D. program in Risk and Insurance at the Wharton School. The success of the Foundation is measured by the accomplishments of its alumni. Former Huebner Fellows play leading roles in every major area of insurance education. Fellows teach insurance to tens of thousands of undergraduate and MBA students each year and have written hundreds of books and thousands of articles on insurance. Fellows hold leadership positions at the American College, the Life Office Management Association, and the Certified Employee Benefit Specialist Program. The Foundation was created in honor of Dr. Solomon S. Huebner, a pioneer in insurance education. Dr. Huebner taught the first organized course on the economics of insurance ever offered at the collegiate level in 1904. An internationally recognized author and teacher, Dr. Huebner had a profound impact on both insurance education and the insurance industry. He served on the faculty of the Wharton School for more than nearly fifty years.
Author | : Thomas A. Harnett |
Publisher | : |
Total Pages | : 308 |
Release | : 1987 |
Genre | : Bankruptcy |
ISBN | : |
Download Insolvency and Solidity of Insurance Companies Book in PDF, Epub and Kindle
Author | : Giovanni Dosi |
Publisher | : OUP Oxford |
Total Pages | : 404 |
Release | : 2001-11-29 |
Genre | : Business & Economics |
ISBN | : 0191530220 |
Download The Nature and Dynamics of Organizational Capabilities Book in PDF, Epub and Kindle
In this book, the editors and a team of distinguished international contributors analyse the nature of organizational capabilities–how organizations do things, use their knowledge base, and diffuse that knowledge in a competitive environment. Dosi is the author and editor of numerous books including Technology, Organization, and Competitiveness (OUP, 1998). He is also one of the editors of the journal Industrial and Corporate Change published by Oxford University Press. Nelson and Winter are recognized as leading proponents of evolutionary perspectives in economics and management. The book includes chapters from David Teece, Keith Pavitt, Benjamin Coriat, and Richard Florida amongst others.