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Books > Business & Economics > Finance & accounting > Finance > Insurance > General
The formation of health professionals is critical for the health
system to function and to achieve its universal health coverage
(UHC) goals, and this is well recognized by the majority of
governments that plan to ensure enough training places and aim to
regulate in order to ensure quality. But the importance of market
forces is often overlooked, resulting in interventions and
regulations that often fail to achieve their intended effects. This
publication aims to inform the design of health professionals'
education policies to better manage health labor market forces
toward UHC. It documents what is known about the influence of
market forces on the health-professional formation process. The
report sought to answer the following questions: What have been the
large global and regional trends in the development of health
professions? How have these trends affected the career decisions of
current and potential health professionals? What is the evidence
base on the value and effectiveness of health professional
education of different types? How has the market for health
professional education evolved, and with what interrelationships
with the health labor and health care markets? The contexts of the
market for health professional training have been subject to
important changes in recent decades, in particular: the growing
extent of employment of mid-level cadres of health professionals;
changes in technology and the associated growth of high skilled
occupations; the increasing interconnectedness of national health
systems through globalization, with its implications for
international health professional mobility; and the greater
complexity of the public-private mix in employment options. There
is a need to ensure that market forces align with the intentions of
planning and regulation and the needs of UHC goals. This
publication provides recommendations to support the design of
policies that help to achieve these.
How to Save for Retirement and Use Your Savings TODAY Retirement
Planning and Rapid Wealth Creation for the Family will teach you
and your Family EXACTLY how to save for retirement. Saving for
retirement and knowing how to save for retirement can be one of the
most valuable skill sets a family has, and lead family members to a
more rewarding life today while investing for tomorrow. The book
will show you a straight-forward, logical way to save for
retirement. It will show you a way to use that same savings money
as though you had never touched it. You will learn how to put
together a solid retirement, as well as increase your cash flow in
the years leading up to retirement. You will literally get your
money working in two different directions at once so that you can
live better today while saving for tomorrow. Just by picking up
this book and implementing the simple strategy outlined, you could
easily save $100,000 to $200,000 over your lifetime if you are
currently using credit cards or financing major expenses.
GAO-11-616 - Federal Crisis: Review of Federal Reserve System
Financial Assistance to American International Group, Inc. In
September 2008, the Board of Governors of the Federal Reserve
System (Federal Reserve Board) approved emergency lending to
American International Group, Inc. (AIG)--the first in a series of
actions that, together with the Department of the Treasury,
authorized $182.3 billion in federal aid to assist the company.
Federal Reserve System officials said that their goal was to avert
a disorderly failure of AIG, which they believed would have posed
systemic risk to the financial system. But these actions were
controversial, raising questions about government intervention in
the private marketplace. This report discusses (1) key decisions to
provide aid to AIG; (2) decisions involving the Maiden Lane III (ML
III) special purpose vehicle (SPV), which was a central part of
providing assistance to the company; (3) the extent to which
actions were consistent with relevant law or policy; and (4)
lessons learned from the AIG assistance. To address these issues,
GAO focused on the initial assistance to AIG and subsequent
creation of ML III. GAO examined a large volume of AIG-related
documents, primarily from the Federal Reserve System--the Federal
Reserve Board and the Federal Reserve Bank of New York (FRBNY)--and
conducted a wide range of interviews, including with Federal
Reserve System staff, FRBNY advisors, former and current AIG
executives, AIG business counterparties, credit rating agencies,
potential private financiers, academics, finance experts, state
insurance officials, and Securities and Exchange Commission (SEC)
officials. Although GAO makes no new recommendations in this
report, it reiterates previous recommendations aimed at improving
the Federal Reserve System's documentation standards and
conflict-of-interest policies. While warning signs of the company's
difficulties had begun to appear a year before the Federal Reserve
System provided assistance, Federal Reserve System officials said
they became acutely aware of AIG's deteriorating condition in
September 2008. The Federal Reserve System received information
through its financial markets monitoring and ultimately intervened
as the possibility of bankruptcy became imminent. Efforts by AIG
and the Federal Reserve System to secure private financing failed
after the extent of AIG's liquidity needs became clearer. Both the
Federal Reserve System and AIG considered bankruptcy issues,
although no bankruptcy filing was made. Due to AIG's deteriorating
condition in September 2008, the Federal Reserve System said it had
little opportunity to consider alternatives before its initial
assistance. As AIG's troubles persisted, the company and the
Federal Reserve System considered a range of options, including
guarantees, accelerated asset sales, and nationalization. According
to Federal Reserve System officials, AIG's credit ratings were a
critical consideration in the assistance, as downgrades would have
further strained AIG's liquidity position. After the initial
federal assistance, ML III became a key part of the Federal Reserve
System's continuing efforts to stabilize AIG. With ML III, FRBNY
loaned funds to an SPV established to buy collateralized debt
obligations (CDO) from AIG counterparties that had purchased credit
default swaps from AIG to protect the value of those assets. In
exchange, the counterparties agreed to terminate the credit default
swaps, which were a significant source of AIG's liquidity problems.
As the value of the CDO assets, or the condition of AIG itself,
declined, AIG was required to provide additional collateral to its
counterparties.
The business of reinsurance developed at the fringe of financial
services and, for most of its existence, went largely unnoticed
outside the expert community. More recently, both public and
professional sensitivity towards managing risks has increased and
reinsurers have emerged as authorities on global threats such as
climate change and natural catastrophes. This is the first book to
provide a comprehensive historical description of this industry. It
traces the global development of reinsurance from the early 19th
century until today. As such it gives a detailed account of how the
nature of risk itself changed over the last 200 years. It
highlights all aspects relevant in shaping the industry from the
development of risk, risk engineering and risk management,
actuarial science, the financial and monetary environment, market
conditions, impacts of politics, the effects of regulatory changes,
to large risks and natural catastrophes. A comprehensive
introduction by the editors highlights the different challenges and
approaches to managing risk from a reinsurance perspective such as
mathematical, financial, legal, and contractual developments, as
well as the changing business models adopted. All of these are
dealt with in further detail by ten contributing authors.
This book is aimed to those professionals in financial and risk
industry who would like to get good insight into raising
operational risk issue. Research in book describes oprisk maturity
of insurance companies in Adriatic region, so readers interested in
doing insurance business in this region will benefit of this book
most . Besides regional research approach, reader will get good
understanding of operational risk and its influence to insurance
and financial businesses overall. Reader will also understand the
value of ERM (enterprise risk management) and ERM-ORM relation.
Book should be carefully read from the beginning to the end so it
can lead the reader through the reasons, issues, regulation
examples and research results.
Despite the importance of insurance in enabling individual and
collective social, economic, and financial activities, discussions
about the macro-economic role and risks of insurance markets are
surprisingly limited. The core motivation for publishing this book
is to bring together academics, regulators, and industry experts to
provide a multifaceted array of research and perspectives on
insurance, its role and functioning, and the potential systemic
risk it could create. The first part discusses the macro-economic
role of insurance and how insurance is different from banking and
general finance. Understanding the differences between the balance
sheets of insurers and other financial intermediaries is essential
to understand the potential differences in risk nature and
differences in optimal regulation. The second part of the book
focuses on the risks of the insurance sector and the potential for
systemic risk. The various chapters discuss the risks both on the
asset and liability sides of insurers' balance sheets. The third
part of the book covers the impact of regulation on insurance
companies. Existing regulation is often complex and has a large
impact on insurance companies' decision-making and functioning. The
chapters also illustrate the unintended consequences of various
forms of regulation. The book concludes with a summary of a survey
that has been conducted in collaboration with McKinsey, where
insurance executives have been asked about the risks and regulation
in the insurance sector. The survey provides guidance for future
research on insurance markets.
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