Insurance Commons^™

Long-Run Risk-Adjusted Performance Of Ipos In The Life Insurance Industry, Lal Chugh, Joseph W. Meador

Financial Services Forum Publications

The pace of demutualization among major U.S. life insurance companies increased sharply after the mid-1990s. Five of the fifteen largest U.S. life insurers demutualized between 1997 and 2001, and the largest, Metropolitan Life Insurance Company, demutualized in 2000. Ten other major life insurance companies, with total assets in 2003 of $775 billion, demutualized over the same time period. The regulatory and competitive environment in the life insurance industry has changed dramatically in recent years. These changes include: (1) the fact that consumers have shown declining interest in the traditional life insurance products of risk bearing and transfer, while revenues from …

Insurance: Indian And Foreign Firms Test Positive For Growth Steroid, Knowledge@Smu

Knowledge@SMU

The new crop of private and foreign players in India's de-nationalized insurance industry is achieving growth rates in market shares that are bigger than its ambitious estimates. Insurance penetration -- both life and non-life -- has taken off vertically with a proliferation of products, and the former state-owned monopolies are pulling out the best in their armory. India Knowledge@Wharton spoke to some of the key players, industry regulators and consulting houses to capture a ringside view of one of the biggest slugfests these days in the emerging economies.

Event Notification/Registration Application: Community Forum Series, River Garden: Excellence In Adult Care And Services

Florida Blue Archives Printed Materials

No abstract provided.

Booklet: Community Connections: Celebration Of Leadership A Tribute To Excellence, Community Connections

Florida Blue Archives Printed Materials

No abstract provided.

Bridges, Girl Scouts Of Gateway Council

Florida Blue Archives Printed Materials

No abstract provided.

Newsletter: Ex Libris: The Quarterly Publication Of The Jacksonville Public Library Foundation, Includes: Donation Envelope, Jacksonville Public Library Foundation

Florida Blue Archives Printed Materials

No abstract provided.

Newsletter: Community Matters, United Way Of Northeast Florida

Florida Blue Archives Printed Materials

No abstract provided.

Evidence On The Relationship Between Takaful Insurance And Fundamental Perception Of Islamic Principles, Ramin Cooper Maysami, John Joseph Williams

Research Collection School Of Accountancy

One of the complexities overarching the concept of Islamic insurance is anchored in the belief system pertaining to fundamental Islamic Law, while another is embedded in the role of profit within the takaful contract. The purpose of this study is to empirically explore the association between the awareness of the existence of Islamic insurance (takaful) and religious perceptions of this financial service.

Report: Summer, 2006 Grant Summaries, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Blue Cross And Blue Shield Of Florida Wins Stevie Award In 4th Annual American Business Awards, 6/14/2006, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A news release from BCBSF about them winning the Stevie Award at the 4th annual American Business Awards from June 14, 2006.

Insurance Against Misinformation In The Securities Market, Tom Baker

All Faculty Scholarship

Prepared at the request of the Task Force to Modernize Securities Legislation in Canada, this study describes and evaluates evaluate a new capital markets insurance concept: securities misinformation insurance. This new insurance would compensate investors for losses caused by securities law violations. The most powerful objection to this new concept is that investors do not need a new insurance program for securities misinformation losses. Individual and institutional investors already can spread securities misinformation losses by holding a diversified portfolio. Nevertheless, a securities misinformation insurance program has the potential to provide systemic benefits: improved compliance with securities laws (resulting from cost …

Form: Mailer Of The Agenda And Registration Form For The 100th Grant Symposium, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Photocopy: Front Image Of The Program For The 100th Grant Symposium, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Binder: The Blue Foundation For A Healthy Florida: The 100th Grant Symposium: Celebrating Innovation, Excellence And Renewal, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

Date: 6/2/2006, Contains: CD: BCBSF The Blue Foundation 100 Grants Celebration TRT 4:22, Blank Symposium Evaluation Form, Email: From Michael Hutton to Susan Wildes and Barbara Riggan, Email: From Michael Hutton to Barbara Riggan and Susan Wildes, Event Program: The Blue Foundation for a Healthy Florida: The 100th Grant Symposium: Celebrating Innovation, Excellence and Renewal, Email: From Stephen Wilson to Susan Wildes, 2006/07/25 w/ attached correspondence letter to Stephen Wilson from Jennifer Adams, Transcript: The 100th Grant Symposium DVD Transcript, Transcript: The 100 Grant Symposium Interview Transcript w/ annotations, Email: From Barbara Riggan to Susan Wildes, Susan Towler, Michael Hutton, …

Agenda: The Blue Foundation For A Healthy Florida: The 100th Grant Symposium, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Poster: Jacksonville’S Premier Book Festival – Much Ado About Books Signed And Framed Poster, Jacksonville Public Library Association

Florida Blue Archives Printed Materials

No abstract provided.

Packet: Jacksonville Jaguars Foundation And First Book Press Conference Press Packet, Jacksonville Jaguars Foundation

Florida Blue Archives Printed Materials

Jacksonville Jaguars Foundation and First Book Press Conference Press Packet contains the following items: About First Book informational letter; Rally Jacksonville: Learning with Reading flyer; The Official Playbook 2005-2006 booklet; The Jacksonville Jaguars Foundation brochure; Touchdown for Reading Press Conference invitation; Rally! Book Drive flyer; Rally! Book Drive June 2004—May 2006 Contributor list; 100,000 Books Score Touchdown for Reading and Local Children press release; and, Touchdown for Reading Press Conference: Corporate and Foundation Sponsors list.

Event Program: 18th Annual Women Of Distinction, Girl Scouts Of Gateway Council

Florida Blue Archives Printed Materials

No abstract provided.

Letter: Mayor John Peyton To Susan B. Towler Of The Blue Foundation For A Healthy Florida, Inc., Meeting Cancellation And Thank You For Service On The Rally Jacksonville Community Advisory Board, John Peyton

Florida Blue Archives Printed Materials

With attachment: 2005-2006 Overview of the JELP [Jacksonville Early Literacy Partnership]

News Release: “The Sapphire Award Premieres In Orlando: Ten Florida Non-Profit Organizations Receive $375,000 In Awards From The Blue Foundation”, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Invitation: The Blue Foundation For A Healthy Florida 2005 Sapphire Award Ceremony, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

February 2006 Blue Cross And Blue Shield Executive Directory, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

February 2006 executive directory printed by the BlueCross and BlueShield Association.

Estimation Of Large Insurance Losses: A Case Study, Tine Buch-Kromann

Journal of Actuarial Practice (1993-2006)

This paper demonstrates an approach to analyzing liability data recently developed by a Danish insurance company. The approach is based on a Champernowne distribution, which is corrected with a non-parametric estimator. The correction estimator is obtained by transforming the data set with the estimated modified Champernowne cdf and then estimating the density of the transformed data set by using the classical kernel density estimator. Our approach is illustrated by applying it to an actual data set.

Solvency Of Life Insurance Companies: Methodological Issues, Rosa Cocozza, Emilia Di Lorenzo

Journal of Actuarial Practice (1993-2006)

The paper deals with solvency assessment for life insurance business; some methodological issues concerning the solvency of life insurance companies, particularly connected to the investment risk, are suggested. Considerations about the technical equilibrium of an insurance portfolio and the financial regulation lead to a dynamic system involving risk measure and solvency assessment. The formal model is applied to a life annuity cohort in a stochastic context in order to exemplify the potential of the model, especially referred to the need to frame solvency assessment in a dynamic perspective.

A Note On The Instability Of The Unprojected Individual Level Premium Cost Method, Pierre Devolder, Valerie Goffin

Journal of Actuarial Practice (1993-2006)

We compare the unit credit and the unprojected individual level premium cost methods in a continuous time environment and show that the latter may produce unstable contribution rates in a dynamic environment. Specifically, assuming there are no unfunded liabilities, we prove that the unprojected individual premium cost method may produce non-bounded contributions if benefits change too close to the normal retirement age.

Consistent Assumptions For Modeling Credit Loss Correlations, Jan Dhaene, Marc J. Goovaerts, Robert Koch, Ruben Olieslagers, Olivier Romijn, Steven Vanduffel

Journal of Actuarial Practice (1993-2006)

We consider a single period portfolio of n dependent credit risks that are subject to default during the period. We show that using stochastic loss given default random variables in conjunction with default correlations can give rise to an inconsistent set of assumptions for estimating the variance of the portfolio loss. Two sets of consistent assumptions are provided, which it turns out, also provide bounds on the variance of the portfolio's loss. An example of an inconsistent set of assumptions is given.

On Some Risk-Adjusted Tail-Based Premium Calculation Principles, Edward Furman, Zinoviy Landsman

Journal of Actuarial Practice (1993-2006)

This paper explores two tail-based premium calculation principles, the tail standard deviation (TSD) premium and the tail conditional expectation (TCE) premium, in their risk-adjusted and unadjusted forms. They are risk-adjusted using so-called distortion functions. We prove that the proportional hazard (PH) risk-adjusted TCE premium is larger than the unadjusted TCE premium. Additionally, given a risk distribution with location and scale parameters, we prove that the PH risk-adjusted TCE premium reduces to the unadjusted TSD premium.

Bayesian Analysis Of A Health Insurance Model, Helio S. Migon, Edison M.O. Penna

Journal of Actuarial Practice (1993-2006)

We consider the problem of determining health insurance premiums based on past information on size of loss, number of losses, and size of population at risk. The size of loss and the number of losses are treated as mutually independent random variables. The number of losses is assumed to follow a Poisson process, and the loss sizes are independent and identically distributed non-negative random variables, and the population at risk is assumed to follow a non-linear growth model. An expression for the premium is obtained through maximization of the insurer's expected utility under a Bayesian model. The parameter estimation process …

Bayesian Analysis Of Insurance Losses Using The Buhlmann-Straub Credibility Model, Abraham J. Van Der Merwe, Kobus N. Bekker

Journal of Actuarial Practice (1993-2006)

We propose a Bayesian analysis to develop credibility estimates of the well known Biihlmann-Straub model. We describe simple numerical methods to obtain exact posterior distributions and predictive densities under this model. These distributions are obtained through Monte Carlo simulations that generate independent samples from the joint posterior distribution. Our methods are therefore preferable to methods such as Gibbs sampling, which generates dependent samples from the joint distribution. The methods discussed also can be extended to more complicated credibility models.

Journal Of Actuarial Practice, Volume 13, 2006, Colin Ramsay , Editor

Journal of Actuarial Practice (1993-2006)

ARTICLES

Bivariate Archimedean Copula Models for Censored Data in Non-Life Insurance • Michel Denuit, Dana Purcaru, and Ingrid Van Keilegom 5

Bayesian Analysis of Insurance Losses Using the Biihlmann-Straub Credibility Model • Abraham J. van der Merwe and Kobus N Bekker . 33

Bayesian Analysis of a Health Insurance Model • Helio S. Migon and Edison M. O. Penna 61

Solvency of Life Insurance Companies: Methodological Issues • Rosa Cocozza and Emilia Di Lorenzo . 81

Pricing Insurance Policies with a Distribution-Free Financial Pricing Model • Min-Ming Wen . 103

A Note on the Instability of the Unprojected Individual Level …