Theory and Practice of Insurance

Theory and Practice of Insurance PDF

Author: J. François Outreville

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 342

ISBN-13: 1461561876

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Insurance is a concept, a technique, and an economic institution. It is a major tool of risk management, and plays an important role in the economic, social, and political life of all countries. Economic growth throughout the world has even expanded the role of insurance. Theory and Practice of Insurance aims to describe the significance of insurance institutions, the reasons they exist and how they function. The author emphasizes fundamental principles in risk and insurance, using an international frame of reference. This volume begins with an introduction to the concept of risk, then proceeds to cover insurance and its relationship to the economy; the principles of risk management and insurance; and the characteristics and performance of insurance companies.

Insurance Theory and Practice

Insurance Theory and Practice PDF

Author: Rob Thoyts

Publisher: Routledge

Published: 2010-06-21

Total Pages: 340

ISBN-13: 1136963456

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Presents a comprehensive overview of the theory, functioning, management and legal background of the insurance industry. This title begins with an examination of the insurance concept, its guiding principles and legal rules before moving on to an analysis of the market, its players and their roles and relationships.

Pricing Insurance Risk

Pricing Insurance Risk PDF

Author: Stephen J. Mildenhall

Publisher: John Wiley & Sons

Published: 2022-06-15

Total Pages: 564

ISBN-13: 1119755670

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PRICING INSURANCE RISK A comprehensive framework for measuring, valuing, and managing risk Pricing Insurance Risk: Theory and Practice delivers an accessible and authoritative account of how to determine the premium for a portfolio of non-hedgeable insurance risks and how to allocate it fairly to each portfolio component. The authors synthesize hundreds of academic research papers, bringing to light little-appreciated answers to fundamental questions about the relationships between insurance risk, capital, and premium. They lean on their industry experience throughout to connect the theory to real-world practice, such as assessing the performance of business units, evaluating risk transfer options, and optimizing portfolio mix. Readers will discover: Definitions, classifications, and specifications of risk An in-depth treatment of classical risk measures and premium calculation principles Properties of risk measures and their visualization A logical framework for spectral and coherent risk measures How risk measures for capital and pricing are distinct but interact Why the cost of capital, not capital itself, should be allocated The natural allocation method and how it unifies marginal and risk-adjusted probability approaches Applications to reserve risk, reinsurance, asset risk, franchise value, and portfolio optimization Perfect for actuaries working in the non-life or general insurance and reinsurance sectors, Pricing Insurance Risk: Theory and Practice is also an indispensable resource for banking and finance professionals, as well as risk management professionals seeking insight into measuring the value of their efforts to mitigate, transfer, or bear nonsystematic risk.

The Fundamentals of Insurance

The Fundamentals of Insurance PDF

Author: Hargovind Dayal

Publisher: Notion Press

Published: 2017-11-02

Total Pages: 164

ISBN-13: 1947949683

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Insurance is perhaps the most effective device for managing ‘risk,’ which is a pervasive phenomenon in our lives. We can sometimes avoid or reduce it but never entirely eliminate it. Whether you are a Graduate student who is studying insurance as a part of your curriculum, or an Executive managing your Organization’s Insurance and Risk Management Program this book will provide you with a strong conceptual foundation, comprehensive knowledge of non-life and life insurance products, and perspectives on how insurance functions as a part of the economy. Essentially, you will understand ‘why’ it is needed, ‘what’ solutions it provides, and ‘how’ different business processes and professionals work together to deliver the vital compensation to victims of disasters. Organized in 18 chapters that are comprehensive yet brief, it continuously relates facts to theories, concepts to processes, events to their context, and the rule-of-thumb to underlying basic principles. Thus, insurance will be demystified, and you will be empowered to decode ‘insurance speak.’

International Property Insurance Programmes

International Property Insurance Programmes PDF

Author: Claudio Böttcher

Publisher: Paragon Publishing

Published: 2021-12-10

Total Pages: 138

ISBN-13: 1782229019

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A lively insight and comprehensive guide for underwriters and risk and insurance managers, insurance intermediaries, college students and anyone who has an interest in international property insurance. Claudio Böttcher and Andy Baumli share their expertise in the field of international property insurance to help you understand the most important aspects/parameters of underwriting complex global industrial risks. They offer practical guidance on finding the most appropriate insurance solutions for your clients in terms of meeting their needs as well as ensuring compliance with the legal and regulatory requirements in all the countries in which they operate.

INSURANCE

INSURANCE PDF

Author: NALINI PRAVA TRIPATHY

Publisher: PHI Learning Pvt. Ltd.

Published: 2005-01-01

Total Pages: 256

ISBN-13: 9788120328563

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With the entry of many global players and tie-up of Indian finance companies with multinational insurance companies, the Indian insurance sector is making rapid stricles. This book provides an insight into the operational policies, practices and issues relating to the insurance business, with the latest trends in this sector. Divided into two parts and containing 21 chapters, the book has contributions from experts in their area of specialization. The first part contains an overview of insurance and its role in the services sector. It also examines the current status of development and future prospects of insurance industry in India, and proceeds to discuss factors affecting selection of life insurance products. The second part deals in details with rural, social and health insurance. It also covers the Gratuity system and Bancassurance. The book is intended as a text for postgraduate students of management (Finance specialization), and finance and professionals who have an interest in the increasingly expanding area.

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