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Full-Text Articles in Insurance

Profile Vol: 46 No: 6 October 20, 1997, Blue Cross And Blue Shield Of Florida, Inc. Oct 1997

Profile Vol: 46 No: 6 October 20, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

October 20, 1997 employee newsletter published to educate and inform the employees of Blue Cross and Blue Shield of Florida. Special Issue – United Way. Box: 8 Folder: 62


Profile Special Issue: 1 October 15, 1997, Blue Cross And Blue Shield Of Florida, Inc. Oct 1997

Profile Special Issue: 1 October 15, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

October 15, 1997 employee newsletter devoted to Organization Re-Design. Special Issue. Box: 8 Folder: 62


The Coexistence Of Multiple Distribution Systems For Financial Services: The Case Of Property-Liability Insurance, Allen N. Berger, J. David Cummins, Mary A. Weiss Oct 1997

The Coexistence Of Multiple Distribution Systems For Financial Services: The Case Of Property-Liability Insurance, Allen N. Berger, J. David Cummins, Mary A. Weiss

Faculty Publications

Property-liability insurance is distributed through a direct-writer system, where agents represent one insurer, and an independent- agency system, where agents represent several insurers. Independent-agency insurers have higher costs than direct writers. The market- imperfections hypothesis attributes the coexistence of the two types of insurers to impediments to competition, while the product-quality hypothesis holds that independent-agency insurers provide higher-quality services. We measure cost efficiency and profit efficiency for property-liability insurers and find strong support for the product-quality hypothesis, implying that independent-agency insurers produce higher-quality outputs and are compensated by higher revenues.


Ua25/2 Connections, Wku Human Resources Oct 1997

Ua25/2 Connections, Wku Human Resources

WKU Archives Records

Newsletter created by WKU Human Resources for the faculty and staff of WKU regarding personnel issues and benefits.


Profile Vol: 46 No: 5 August 29, 1997, Blue Cross And Blue Shield Of Florida, Inc. Aug 1997

Profile Vol: 46 No: 5 August 29, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

August 29, 1997 employee newsletter published to educate and inform the employees of Blue Cross and Blue Shield of Florida. Box: 8 Folder: 62


Ua25/2 Connections, Wku Human Resources Aug 1997

Ua25/2 Connections, Wku Human Resources

WKU Archives Records

Newsletter created by WKU Human Resources for the faculty and staff of WKU regarding personnel issues and benefits.


Board Of Directors July Informational Meeting, Blue Cross And Blue Shield Of Florida, Inc. Jul 1997

Board Of Directors July Informational Meeting, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

July 17-18, 1997 Board of Directors July Informational Meeting packet. Box: 11 Folder: 114


Profile Vol: 46 No: 4 July 3, 1997, Blue Cross And Blue Shield Of Florida, Inc. Jul 1997

Profile Vol: 46 No: 4 July 3, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

July 3, 1997 employee newsletter published to educate and inform the employees of Blue Cross and Blue Shield of Florida. Box: 8 Folder: 62


Profile Vol: 46 No: 3 June 13, 1997, Blue Cross And Blue Shield Of Florida, Inc. Jun 1997

Profile Vol: 46 No: 3 June 13, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

June 13, 1997 employee newsletter published to educate and inform the employees of Blue Cross and Blue Shield of Florida. Box: 8 Folder: 62


Tort Liability: A Minefield For Managed Care?, Patricia. M. Danzon Jun 1997

Tort Liability: A Minefield For Managed Care?, Patricia. M. Danzon

Health Care Management Papers

The restructuring of health insurance contracts and health care delivery systems under managed care is the result of competitive attempts to reduce the inefficiencies that developed in medical markets under traditional indemnity insurance. Liability rules that continue to apply norms of customary care threaten to undermine these potential efficiency gains. Liability rules under managed care should treat claims for denial of coverage as contractual disputes, to be brought against health plans as residual claimants. Where contracts are ambiguous, appropriate coverage should be determined using a cost-benefit criterion based on beneficiaries’ willingness-to-pay. Liability claims for negligent care should be permitted only ...


Ua25/2 Connections, Wku Human Relations Jun 1997

Ua25/2 Connections, Wku Human Relations

WKU Archives Records

Newsletter created by WKU Human Resources for the faculty and staff of WKU regarding personnel issues and benefits.


Profile Vol: 46 No: 2 May 12, 1997, Blue Cross And Blue Shield Of Florida, Inc. May 1997

Profile Vol: 46 No: 2 May 12, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

May 12, 1997 employee newsletter published to educate and inform the employees of Blue Cross and Blue Shield of Florida. Box: 8 Folder: 62


Profile Vol: 46 No: 1 April 25, 1997, Blue Cross And Blue Shield Of Florida, Inc. Apr 1997

Profile Vol: 46 No: 1 April 25, 1997, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

April 25, 1997 employee newsletter published to educate and inform the employees of Blue Cross and Blue Shield of Florida. Box: 8 Folder: 62


Ua25/2 Connections, Wku Human Resources Apr 1997

Ua25/2 Connections, Wku Human Resources

WKU Archives Records

Newsletter created by WKU Human Resources for the faculty and staff of WKU regarding personnel issues and benefits.


Ua25/2 Connections, Wku Human Resources Feb 1997

Ua25/2 Connections, Wku Human Resources

WKU Archives Records

Newsletter created by WKU Human Resources for the faculty and staff of WKU regarding personnel issues and benefits.


Journal Of Actuarial Practice, Volume 5, No. 1, 1997, Colin Ramsay , Editor Jan 1997

Journal Of Actuarial Practice, Volume 5, No. 1, 1997, Colin Ramsay , Editor

Journal of Actuarial Practice 1993-2006

ARTICLES

Providing Pensions for U.K. Employees with Varied Working Lives • Deborah R. Cooper

Seeking the Profitability-Risk-Competitiveness Frontier Using a Genetic Algorithm • Ronnie Tan

Fuzzy Underwriting: An Application of Fuzzy Logic to Medical Underwriting • Per-Johan Horgby, * Ralf Lohse, and Nicola-Alexander Sittaro

Accelerated Death Benefits, Viatical Settlements, and Viatical Loans: Options for the Terminally III Paula Schmidt

The Right to Underwrite? An Actuarial Perspective With a Difference • Thomas A. Moultrie and R. Guy Thomast

Discussion of T.A. Moultrie and R.G. Thomas's ''The Right to Underwrite? An Actuarial Perspective With a Difference" • Charles L. Trowbridge

Editor - Colin Ramsay, University ...


Seeking The Profitability-Risk-Competitiveness Frontier Using A Genetic Algorithm, Ronnie Tan Jan 1997

Seeking The Profitability-Risk-Competitiveness Frontier Using A Genetic Algorithm, Ronnie Tan

Journal of Actuarial Practice 1993-2006

Monte Carlo simulation is used to develop a flexible framework to measure the profitability, risk, and competitiveness of any insurance product. A genetic algorithm is then used to seek the optimum asset allocations that form the profitability-risk-competitiveness frontier and to examine the profitability, risk, and competitiveness trade-off's. We also show how to select the appropriate asset allocation and crediting strategy in order to position the product at the DeSired location on the profitability-risk-competitiveness spectrum.


Providing Pensions For U.K. Employees With Varied Working Lives, Deborah R. Cooper Jan 1997

Providing Pensions For U.K. Employees With Varied Working Lives, Deborah R. Cooper

Journal of Actuarial Practice 1993-2006

Several different working lives are investigated, including employees with breaks in employment, part-time employment, and temporary employment. The pensions that could be provided to the different employees by final salary, revalued career average, or money purchase pension schemes (plans) are calculated and compared. Some of the weaknesses in a final salary pension scheme (the treatment of deferred pensioners and cross subsidies between different groups of member) are considered. Possible alternative benefit structures are considered to address the problems.


Fuzzy Underwriting: An Application Of Fuzzy Logic To Medical Underwriting, Per-Johan Horgby, Ralf Lohse, Nicola-Alexander Sittaro Jan 1997

Fuzzy Underwriting: An Application Of Fuzzy Logic To Medical Underwriting, Per-Johan Horgby, Ralf Lohse, Nicola-Alexander Sittaro

Journal of Actuarial Practice 1993-2006

One of the most difficult issues in the medical underwriting of life insurance applicants is diabetes mellitus. Compiling the prognosticating parameters for diabetic applicants results in a complex system of mutually interacting factors. In addition, neither the prognosticating factors themselves nor their impact on the mortality risk is clear cut. We show how a fuzzy inference system can be used in underwriting diabetes mellitus. A fuzzy inference system can cope with the imprecise nature of medical parameters by converting them into fuzzy sets and aggregating them using mathematical techniques. The fuzzy underwriting system presented goes further than previous applications of ...


The Right To Underwrite? An Actuarial Perspective With A Difference, Thomas A. Moultrie, Guy R. Thomas Jan 1997

The Right To Underwrite? An Actuarial Perspective With A Difference, Thomas A. Moultrie, Guy R. Thomas

Journal of Actuarial Practice 1993-2006

For a long time underwriting has been a part of the actuarial canon. With increasing frequency, however, challenges are being issued against the right of insurance companies to underwrite applications for new bUSiness, arguing that certain aspects of the practice are undesirably discriminatory. We explore the role of the actuary in the underwriting process and the challenges that are being set for the profession (as opposed to the life insurance industry) as a result of this role. As the distinction between the interests of the actuarial profession and the interests of the life insurance companies has become increasingly blurred, we ...


Dynamic Immunization And Transaction Costs With Different Term Structure Models, Eliseo Navarro, Juan M. Nave Jan 1997

Dynamic Immunization And Transaction Costs With Different Term Structure Models, Eliseo Navarro, Juan M. Nave

Journal of Actuarial Practice 1993-2006

A bond portfolio selection model is developed in a dynamic framework using different term structures, but without transactions costs. We show that the optimal portfolios are consistent with Khang's dynamic immunization theorem, i.e., the optimal path consists of making portfolio duration equal to the investor's horizon planning period. The model is then extended to include transaction costs. The resulting optimal portfolios are no longer consistent with Khang's dynamic immunization theorem. In fact, the strategy for constructing the optimal portfolio consists of initially choosing a portfolio with a duration that is smaller than the horizon planning period.


A New Approach For Determining Claim Expense Reserves In Workers Compensation, Kay Rahardjo Jan 1997

A New Approach For Determining Claim Expense Reserves In Workers Compensation, Kay Rahardjo

Journal of Actuarial Practice 1993-2006

This paper describes a new approach for determining a reserve for claim expenses. While the discussion focuses on workers compensation claims, the methodology is equally applicable to other lines of business. The approach also can be applied to the calculation of the reserve for all claims (including IBNR claims) and the reserve for claims reported to date (excluding IBNR claims). In addition, a methodology for pricing claims-handling services is discussed. The implications of pricing claims-handling services on a handle-to- conclusion basis versus pricing claims-handling services on a limited time handling basis are examined. Finally, the paper discusses a methodology for ...


Accelerated Death Benefits, Viatical Settlements, And Viatical Loans: Options For The Terminally Iii, Paula Schmidt Jan 1997

Accelerated Death Benefits, Viatical Settlements, And Viatical Loans: Options For The Terminally Iii, Paula Schmidt

Journal of Actuarial Practice 1993-2006

There are three options available for terminally ill insureds who are interested in accessing all or part of the face value of their life insurance policies: through the life insurance company (accelerated death benefits), through a viatical company (a via tical settlement), or through a via tical loan company (a via tical loan). This paper explores the definitions and tax regulations, calculations, and the claims process associated with accelerated death benefits and via tical settlements and loans.


Actuarial Model Assumptions For Australian Inflation, Equity Returns, And Interest Rates, Michael Sherris Jan 1997

Actuarial Model Assumptions For Australian Inflation, Equity Returns, And Interest Rates, Michael Sherris

Journal of Actuarial Practice 1993-2006

Though actuaries have developed several types of stochastic investment models for inflation, stock market returns, and interest rates, there are two commonly used in practice: autoregressive time series models with normally distributed errors, and autoregressive conditional heteroscedasticity (ARCH) models. ARCH models are particularly suited when there is heteroscedasticity in inflation and interest rate series. In such cases nonnormal residuals are found in the empirical data. This paper examines whether Australian univariate inflation and interest rate data are consistent with autoregressive time series and ARCH model assumptions.


Discussion Of T.A. Moultrie And R.G. Thomas's ''The Right To Underwrite? An Actuarial Perspective With A Difference", Charles L. Trowbridge Jan 1997

Discussion Of T.A. Moultrie And R.G. Thomas's ''The Right To Underwrite? An Actuarial Perspective With A Difference", Charles L. Trowbridge

Journal of Actuarial Practice 1993-2006

This interesting but controversial paper studies a subject I too have seriously considered. Nearly a decade ago I was commissioned to prepare a monograph that appeared in 1989 under the auspices of the Actuarial Education and Research Fund under the title Fundamental Concepts of Actuarial Science. 1 Chapter VII of this work, "Classification, Selection, and Antiselection," claims that the cluster of ideas surrounding these three words form a fundamental actuarial concept. I have recently reviewed this monograph (hereinafter FCAS) and am struck by the dissimilarities between the two treatments. The authors of "The Right to Underwrite?" (RTU) were unaware of ...


Pricing Earthquake Exposure Using Modeling, Debra L. Werland, Joseph W. Pitts Jan 1997

Pricing Earthquake Exposure Using Modeling, Debra L. Werland, Joseph W. Pitts

Journal of Actuarial Practice 1993-2006

This paper demonstrates a practical methodology for determining a statewide rate level indication for the earthquake insurance and for determining more equitable territorial relativities within a state. The methodology is based on the output from a certain commercially available earthquake modeling software package. The methodology addresses some of the complex issues involved in pricing earthquake insurance exposure and potential regulatory acceptance. The paper also features a section dealing with the net cost of reinsurance in the proposed direct rates. A final consideration is the treatment of a model's output when it is believed the modeled results art' less than ...


Comments On Some Parametric Models For Mortality Tables, Kam C. Yuen Jan 1997

Comments On Some Parametric Models For Mortality Tables, Kam C. Yuen

Journal of Actuarial Practice 1993-2006

Parametric models for the entire age pattern of mortality have been suggested by Heligman and Pollard (1980) and Carriere (1992). The former is designed to fit the classical mortality pattern while the latter is supported by a statistical theory. Insights into their papers motivate us to consider a variation of the Heligman-Pollard model. We also apply these models to the 1993 Hong Kong Assured Lives Mortality Tables as well as the 1991 Hong Kong Female Life Table. This paper is not intended to construct a better parametric model for mortality tables; the main purpose is simply to provide insights into ...


Journal Of Actuarial Practice, Volume 5, No. 2, 1997, Colin Ramsay , Editor Jan 1997

Journal Of Actuarial Practice, Volume 5, No. 2, 1997, Colin Ramsay , Editor

Journal of Actuarial Practice 1993-2006

Articles:

With Different Term Structure Models • Eliseo Navarro and Juan M. Nave

A New Approach for Determining Claim Expense Reserves in Workers Compensation • Kay Rahardjo

Pricing Earthquake Exposure Using Modeling • Debra L. Werland and Joseph W. Pitts

Actuarial Model Assumptions for Australian Inflation, Equity Returns, and Interest Rates • Michael Sherris

Comments on Some Parametric Models for Mortality Tables • Kam C. Yuen

Editor - Colin Ramsay, University of Nebraska. Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, Actuarial Frameworks ○ Samuel Cox, Georgia State University ○ David Cummins, University of Pennsylvania ○ Robert Finger, Retired ○ Charles Fuhrer, The Segal ...


Conflicts And Defense Lawyers: From Triangles To Tetrahedrons, Tom Baker Jan 1997

Conflicts And Defense Lawyers: From Triangles To Tetrahedrons, Tom Baker

Faculty Scholarship at Penn Law

No abstract provided.


An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery Jan 1997

An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery

Faculty Scholarship at Penn Law

No abstract provided.