Insurance Commons^™

Determinants Of Long-Term Care Insurance: Are Spouses Substitutes?, Jacob Harold-Matthew Haag

Honors Program Theses

As the U.S. population continues to age due to medical advancements and the aging of the largest generation in the history of the U.S. (baby boomers), the number of people in long-term care facilities has increased significantly; however, the percentage of people with long-term care insurance is small. Research conducted in the early 2000s focused on factors such as availability of children, risk aversion, health status, age, having Medicaid, and other variables that describe personal attributes to explain why the market is so small. This paper will use recent data from the Health and Retirement Study to determine whether or …

An Analysis Of Equity-Linked Insurance Pricing, Clara C. Ortgies

Honors Program Theses

This comprehensive study of equity-linked insurance options will explore the pricing of certificates of deposit and life insurance options using a present value method. With this study, I will be able to construct and price various equity-linked insurance products, with a focus on life insurance, that insurance companies could then sell to prospective customers. I will use concepts and formulas based in actuarial math, probability theory, and financial engineering in order to construct, price, and analyze new equity-linked insurance products. The fundamental methodology I will use involves applying pricing theory based on the expected value of the insurance payoff present …

Long-Term Care Insurance For The Elderly And Long-Term Care Insurance As A Viable Option For Today's Elderly, Brenda Joan Turnis

Honors Program Theses

Long-term care insurance policies have been sold for the last forty years, but many people are hesitant to invest in these plans. The purpose of this thesis is to provide a realistic view of how long-term care insurance is perceived in our society. It will also include factual evidence on the option of private long-term care insurance for the elderly. A review of research on long-term care will emphasize the coming crisis in long-term care and provide information on the viability of long-term care insurance in our communities.

Cedar Rapids Flood Of 2008: Manmade Or Statistical Anomaly?, Beth Kolsrud

Honors Program Theses

One of the main research questions for this thesis is what factors caused the flooding last summer and why was it so extreme? This is an important question to answer because it is vital to understand what causes a flood of this magnitude so communities can take steps to avoid or minimize damage that may result from floods in the future. The second question is what impact does this flood have on flood insurance? Flood insurance is one tool used to protect property owners from substantial loss due to flooding and plays a vital role in recovery after a flood, …

Managing Risk In Life Insurance With Your Genetic Information: The Issues, The Options, And The Speed Of Progress, Michelle Gogerty

Honors Program Theses

legislation is already in place to restrict the use of genetic information in the health insurance industry (Genetics and Public Policy Center 2008) and several states have similar laws restricting its use in the life insurance industry as well (National Conference of State legislatures 2008}. It is only a matter of time before national legislation applicable to life insurance is enacted on the matter and I expect it to come within the next five years. Unless both insurers and consumers actively protect their rights to privacy, equality, and profitability, the result of that legislation may be very harmful to one …

Risk Classification And Ratemaking In Insurance, Erin Conrad

Honors Program Theses

Actuaries in insurance companies strive to put a price tag on future risk. They use a variety of analyses and models to accurately price insurance products. Models discussed in this paper include the pure premium method, the loss ratio method, the minimum bias procedure, and generalized linear models. Each of these pricing mechanisms are used to determine accurate and actuarially sound rates for insurance products. Competition in the industry forces companies to find more refined ways to predict the future costs of a risk. Classification systems allow companies to include a variety of rating variables so that each risk is …

Young Adults And Health Insurance Coverage: A Description Of Trends, Christina Lynn Hansen

Honors Program Theses

Such high rates of uninsurance are due to many factors, but the transition from dependence to independence is a major cause of uninsurance within young adults. Affecting all classes and groups of young adults, it is shown that being in low-income families, a member of a minority group, and being male all increase chances of uninsurance (Callahan & Cooper, 2004).

Asbestos Litigation And Indemnification, Paul Grammens

Honors Program Theses

Asbestos started out as an amazing product. It was not only easy to manufacture and easy to work with but also fire resistant and a great insulator, asbestos became one of the most common manufacturing products in the United States, especially after World War I. What the public did not know about asbestos at the time is that long-term exposure could lead to sickness. Because of this unforeseen liability, industrial companies and insurance companies were not able to properly prepare for the losses due to asbestos.

Insurance: A Consumer's Perspective, Elizabeth Ann Nanke

Honors Program Theses

Life insurance is a pivotal part of the world in which we live, and yet most consumers think about it very little. Life insurance started with the Ancient Greeks and continued to develop in Europe, eventually reaching the United States. Throughout history, insurance companies have undergone a number of modifications to match changing consumer needs. ln our modem society, insurance can be best defined as an intermediary that reduces the financial drain caused by the death of an individual by apportioning this loss among a very large group. Today, insurance companies sell a number of diversified products, but most insurance …

Selected Problems Involving The Probability Of Ruin For An Insurance Company, Andrew J. Schafer

Presidential Scholars Theses (1990 – 2006)

In the actuarial science literature, an insurance company is said to be ruined if, at some time t > 0, the aggregate claims up to time t exceed the sum of the initial surplus and the total premium collected up to time t. The calculation and/or estimation of the probability of ruin is of fundamental importance. In this paper we use computer simulation to estimate the probabilities of ruin over a finite horizon of time when the aggregate claims process is Compound Poisson and the distribution of the claim sizes is: (i) Weibull, and (ii) exponential with a random parameter. The …

Present Status And Perceived Importance Of Computer Skills In A Taiwanese Service Industry, En-Ming Tseng

Dissertations and Theses @ UNI

The purpose of this study was to provide researchers,computer technologists, management and trainers with information concerning the current status and importance regarding computer skills for agents in the Taiwanese life insurance industry. In addition to identifying important computer skills for this population, this research investigated differences in perceptions of computer directors (major computer system developers), sales managers(major training providers), and life insurance agents(computer end-users) regarding the current status and importance of computer skills for life insurance agents.

Survey instruments were developed through the literature review as well as through expert interviews and validations. Investigated samples include all 30 computer directors …