Insurance Commons^™

Features Of Organizing Of General Accounting In The Aspect Of Pension Insurance System In Condition Of Sustainable Development Of Tajikistan, Muqadamkhon Zokirkhonovna Abdurahmonova

Journal of Environmental Science and Sustainable Development

This article considered basic organizational aspects of general accounting of pension system in sustainable development condition of Republic of Tajikistan. Theoretical bases of pension system accounting are analysed. The key aspects of research work are based in the regulations confirmed on the “Instruction about general accounting organization and recording pension operations in accounting”. The problems of transformation of accounting and the pension system are pushing scientists to pay attention to the issues of organizing pension accounting. This scientific article is based on the research regarding to the theme of my candidate dissertation on theme: “Features of development and modernization of …

Insurance And Enterprise: Cyber Insurance For Ransomware, Tom Baker, Anja Shortland

Faculty Scholarship at Penn Carey Law

Selling insurance gives insurers an incentive to manage insured risks. The “insurance as governance” literature demonstrates that insurers often make insurance conditional on ex ante risk reduction or mitigation. But insurance governs in support of enterprise, not security for its own sake. Tight underwriting inhibits enterprise – not only for insured businesses but also the business of insurance. This paper highlights ex post loss reduction as a form of insurance-based governance. Drawing on interviews with industry insiders, we explore how insurers addressed the evolving problems of moral hazard, uncertainty, and correlated losses since the 1990s. We find that cyber insurance …

The Government Behind Insurance Governance: Lessons For Ransomware, Tom Baker, Anja Shortland

Faculty Scholarship at Penn Carey Law

The insurance as governance literature focuses on the ability of private enterprises to collectively regulate, pool, and distribute risks. This paper analyzes how governments support insurance markets to maintain insurability and limit risks to society. We propose a new conceptual framework grouping government interventions into three dimensions: regulation of risky activity, public investment in risk reduction, and co-insurance. We apply this framework to six case studies, describing insurance markets’ reliance on public support in more analytically precise terms. We analyze how mature insurance markets overcame insurability challenges akin to those currently presented by extortive cybercrime. Private governance struggled when markets …

Patterns Of Health Care Use Among Rural-Urban Medicare Beneficiaries Age 85 And Older, 2010-2017, Yvonne Jonk Phd, Heidi O'Connor Ms, Amanda Burgess Mppm, Carly Milkowski Mph

Access / Insurance

The purpose of this study was to examine rural-urban differences in health care use among Medicare beneficiaries age 85+. Understanding these differences, and the socioeconomic characteristics that contribute to them, can have important implications for Medicare policies aimed at serving the age 85+ population. Using the Medicare Current Beneficiary Survey 2010-13 Cost and Use and 2015-17 Cost Supplement Files, we examined whether and how rural and urban Medicare beneficiaries age 85+ differ in terms of their:

1. socioeconomic and health characteristics that may inform health care use;
2. trends in health care use, including use of inpatient and emergency department (ED) care; …

Life's Not Fair. Is Life Insurance?, Mark A. Sayre

Privacy Certificate Student Publications

The rapid adoption of artificial intelligence by life insurance companies increases the risk that such practices may unfairly discriminate against insurance applicants based on race. The article briefly discusses the history of racial discrimination in life insurance pricing, followed by a summary of current antidiscrimination law. Next, proposed state legislation to address discrimination risks posed by artificial intelligence is discussed. Finally, the article discusses the potential that professional standards may provide a faster way to mitigate discrimination risk in a nationally uniform manner.

The True Cost Of Auto Insurance In The Mountain West, 2022, Annie Vong, Saha Salahi, Caitlin J. Saladino, William E. Brown Jr.

Transportation & Infrastructure

This fact sheet examines data on average annual premiums, percent of income spent on auto insurance, and life events associated with the rising cost of auto insurance in the Mountain West (Arizona, Colorado, Nevada, New Mexico, and Utah). The original report includes data on national averages for auto insurance premiums for all fifty states.

Does Finance Make Us Less Social?, Henrik Cronqvist, Mitch Warachka, Frank Yu

Business Faculty Articles and Research

Informal risk sharing within social networks and formal financial contracts both enable households to manage risk. We find that financial contracting reduces participation in social networks. Specifically, increased crop insurance usage decreased local religious adherence and congregation membership in agricultural communities. Our identification utilizes the Federal Crop Insurance Reform Act of 1994 that doubled crop insurance usage nationally within a year, although changes in usage varied across counties. Difference-in-difference and Spatial First Difference tests confirm that households substituted insurance for religiosity. This substitution was associated with reductions in crop diversification and crop yields, indicating an increase in moral hazard.

Social Media Marketing And Insurance: An Analysis Of The Impact Of Social Media Marketing On Small Independent Brokerages Of Property And Casualty Insurance, Kaylee B. Brucker

University Honors Theses

Property and casualty insurance is an intangible service. It is a large industry within the US that in most regard is perpetual. Marketing for insurance is not similar to marketing for most other services or products. The agent must relay the value to the consumer prior to them purchasing it. Further, when considering social media marketing, we find a separate strategy of marketing. Social media marketing is becoming increasingly popular, it has shown as a successful strategy for obtaining consumers' attention and their business. This success has been seen in many industries, including insurance. However, there is a lack of …

Where The Rainbow Ends: The Hidden Humanitarian Crisis For Members Of The Lgbtqia+ Community In International Business, John R. Krendel

Senior Honors Projects, 2020-current

There are several people I would like to thank for their assistance in my Honors Capstone research and the writing of this Honors Thesis. First and foremost, I would like to thank my project advisor, Professor Fernando Pargas, for his assistance in planning my research and his continued support and input over the past few months. I would also like to thank my readers, Dr. Laura Leduc and Professor Robert Eliason for offering up their time to read my thesis and provide insightful feedback. Additionally, I would like to thank Elizabeth Price, the research librarian for the College of Business …

What Is Insurance? An Analysis Of The Tax Deductibility Of Captive Insurance Premiums, John D. Patten

Honors Capstones

What is insurance for the purposes of a tax deduction? The Internal Revenue Code does not define insurance. Without this definition, taxpayers using alternative insurance products to manage their risks must look to case law to determine whether their arrangements count as tax deductible insurance or non-deductible self-insurance. This paper dives into the four prongs of insurance: insurance risk, risk shifting, risk distributing, and commonly accepted notions of insurance. This paper looks to cases that have dealt with the deduction of captive insurance premiums to provide better insight into the practical application of this test. After discussing the evolution of …

Case Study In Enterprise Risk Management: Lion Rock Summer Camps, Inc., Arthur Meaney

Honors Theses

Enterprise risk management is a crucial part of the modern business world. Being unprepared to handle risks that a company may face can lead to financial demise. Since the 1960s, the insurance industry has steadily moved away from the focus on insurance buying. Enterprise risk management strives to identify company-wide risks, evaluate their frequency and severity, come up with risk management and loss control methods, implement said methods, and monitor their effectiveness over time. In this case study, I identify risks for Lion Rock Summer Camps, Inc. and suggest various risk management and loss control methods. Lion Rock Summer Camps, …

The Impact Of Different Worldviews On The Financial Planning Process, Luke Osterhus

Senior Honors Theses

An individual's worldview has an effect on all aspects of their life. Worldview affects the decisions people make, the clothes they wear, the people they interact with, and so much more. What is often overlooked is the impact of worldview on one's view and use of money. Money is universal and everyone has some form of currency or assets. However, the way money is used, whether it is saved, spent, or invested, is often determined by an individual's own concept of money. Additionally, relationships between people are often chosen or influenced by an individual's worldview. Human beings are seen differently …

Exploring Mechanisms Insurers Employ To Set Premiums And Maximize Profitability, Brent Ferenczy

Senior Honors Theses

The insurance industry is a very complex segment of the macroeconomy. An explain will be given as to how these companies are able to maintain and maximize their profits, allowing them to remain in business. A key area in this process is the setting of premiums. This activity draws from many areas of the business model. This paper will start with a birds-eye view and telescope in, starting with standard business practices and ending with specific undertakings of insurance companies. Companies must keep adequate liquid funds. This is done mainly through forecasting cash outflows and investing their assets under management. …

Takaful Insurance And Its Similarities And Differences With Traditional Insurance, Najlaa Al Hajj

Al Jinan الجنان

Commercial insurance or cooperative insurance (Co-Op Insurance) typically aims to reduce common risks that can happen to any type of business and to provide all kinds of protection against unforeseen circumstances. Takaful insurance has been created as an alternative choice that the public was looking for, mainly in the Arab countries for the reason that the services of the traditional insurance do not suit people’s needs especially with regard to non-compliance with sharia laws. Therefore, Takaful insurance seeks to solve this problem. It provides insurance services and programs Commercial insurance or cooperative insurance (Co-Op Insurance) typically aims to reduce common …

Third Party Moral Hazard And The Problem Of Insurance Externalities, Gideon Parchomovsky, Peter Siegelman

Faculty Scholarship at Penn Carey Law

Insurance can lead to loss or claim-creation not just by insureds themselves, but also by uninsured third parties. These externalities—which we term “third party moral hazard”—arise because insurance creates opportunities both to extract rents and to recover for otherwise unrecoverable losses. Using examples from health, automobile, kidnap, and liability insurance, we demonstrate that the phenomenon is widespread and important, and that the downsides of insurance are greater than previously believed. We explain the economic, social and psychological reasons for this phenomenon, and propose policy responses. Contract-based methods that are traditionally used to control first-party moral hazard can be welfare-reducing in …

Insurtech And Underwriting, Michael Mcshane, C. Ariel Pinto

Developing Technology Foresight: Case Study of AI in InsurTech

Questions regarding InsurTech and underwriting work.

Module 3: Technology Foresight And Insurtech, Michael Mcshane, C. Ariel Pinto

Developing Technology Foresight: Case Study of AI in InsurTech

Instructional Module 3 for course, Developing Technology Foresight: Case Study of AI in InsurTech.

Module 1: Introduction To Technology Foresight, Risk Management, And Insurtech, Michael Mcshane, C. Ariel Pinto

Developing Technology Foresight: Case Study of AI in InsurTech

Instructional Module 1 for course, Developing Technology Foresight: Case Study of AI in InsurTech.

Module 2: Case Studies Of Ai And Insurtech, Michael Mcshane, C. Ariel Pinto

Developing Technology Foresight: Case Study of AI in InsurTech

Instructional Module 2 for course, Developing Technology Foresight: Case Study of AI in InsurTech.

Introduction To The Course, Michael Mcshane, C. Ariel Pinto

Developing Technology Foresight: Case Study of AI in InsurTech

This PDF document describes the course, Developing Technology Foresight: Case Study of AI in InsurTech, and includes learning outcomes and a course outline.