By the eve of the Great Depression, there existed in America the equivalent of a policy for every man, woman and child, and in Britain it grew from its narrow aristocratic base to cover all social classes. This primary resource collection is the first comparative history of British and American life insurance industries.

Workers' compensation causes headaches throughout all levels of an organization. Injuries affect production, costs, and morale. Managing Workers' Compensation: A Guide to Injury Reduction and Effective Claim Management lays out - in logical order - management and safety procedures that reduce injuries and the aggravation that follows. The authors cover hiring, training, and managing employees with injury avoidance in mind. They provide a blueprint for dealing with injured employees and their families, and for determining the correct time for the employee to return to work.

The book discusses the all-important issues of fraud, modified duty, substance abuse testing and accident investigations. It also provides guidance for managing your organization's safety efforts in a manner that targets workers' compensation cost control as one of its major objectives. In addition to comprehensive coverage of workers' compensation, the book gives you a thorough explanation of additional sources of assistance, including the availability and utility of Internet safety resources, a complete listing of state workers' compensation agencies, and sample checklists that help you evaluate your workplace.

Although workers' compensation laws vary from state-to-state, the principles behind the system and the ability of employers to influence their own premiums remain consistent. By gaining a thorough understanding of these principles and implementing proven cost control strategies, you can realize substantial savings. Managing Workers' Compensation: A Guide to Injury Reduction and Effective Claim Management explains the process by which premiums are calculated and shows how you can impact - favorably - the amount your organization pays in premiums.

American state and Canadian provincial governments have dealt with rapidly rising auto insurance rates in different ways over the last two decades, a difference many attribute to variances in political pressure exerted by interest groups such as trial attorneys and insurance companies. Edward L. Lascher, Jr., argues that we must consider two additional factors: the importance of politicians' beliefs about the potential success of various solutions and the role of governmental institutions.

Using case studies from both sides of the border, Lascher shows how different explanations of the problem and different political structures affect insurance reform. In his conclusion, Lascher moves beyond auto insurance to draw implications for regulation and policymaking in other areas.

First published in 1998, this volume was formally completed in July 1994, but completing the structure of the market is not all the same thing as having a genuine Single Market. This book explores the difficulties inherent in the concept of the Single Market in Insurance, as well as the practical difficulties of implementation. It looks to the future of the Single Market as well as at the present. It should be of interest to lawyers studying law or EC law, as well as to economists and political scientists interested in the development of Project Europe.

Originally published in 1987, British Non-Bank Financial Intermediaries the book is the diversification of and overlaps in the operations of UK financial intermediaries forms. The book provides a coherent analysis of the broader implications of ongoing developments in the financial services sector and an insight into the 'back-room activities of the non-bank institutions. The book also focuses on institutions offering some form of financial markets, within which many of the financial intermediaries operate. In doing this, the book outlines a theoretical framework of financial intermediation and provides an overview of the broader evolution of the UK financial system. This volume will be of use to students and practitioners studying in the financial services sector.

Originally published in 1985, Capital City: London as a Financial Centre proves in depth analytical description of the financial institutions of the City of London. The book describes in detail the operations of the banks, the stock market, the insurance world and other bodies that make up the world's largest international financial centre. The book also answers a series of questions on the City's performance, accountability and honesty and explains how the City reached its present position, discuss its future.

The business guide to Big Data in insurance, with practical application insight Big Data and Analytics for Insurers is the industry-specific guide to creating operational effectiveness, managing risk, improving financials, and retaining customers. Written from a non-IT perspective, this book focusses less on the architecture and technical details, instead providing practical guidance on translating analytics into target delivery. The discussion examines implementation, interpretation, and application to show you what Big Data can do for your business, with insights and examples targeted specifically to the insurance industry. From fraud analytics in claims management, to customer analytics, to risk analytics in Solvency 2, comprehensive coverage presented in accessible language makes this guide an invaluable resource for any insurance professional. The insurance industry is heavily dependent on data, and the advent of Big Data and analytics represents a major advance with tremendous potential yet clear, practical advice on the business side of analytics is lacking. This book fills the void with concrete information on using Big Data in the context of day-to-day insurance operations and strategy. * Understand what Big Data is and what it can do * Delve into Big Data's specific impact on the insurance industry * Learn how advanced analytics can revolutionise the industry * Bring Big Data out of IT and into strategy, management, marketing, and more Big Data and analytics is changing business but how? The majority of Big Data guides discuss data collection, database administration, advanced analytics, and the power of Big Data but what do you actually do with it? Big Data and Analytics for Insurers answers your questions in real, everyday business terms, tailored specifically to the insurance industry's unique needs, challenges, and targets.

Disability insurance, long-term care insurance, and critical illness cover are becoming increasingly important in developed countries as the problems of demographic aging come to the fore. The private sector insurance industry is providing solutions to problems resulting from these pressures and other demands of better educated and more prosperous populations. Actuarial Models for Disability Insurance examines the actuarial structure of disability insurance, long-term care insurance, and critical illness cover, including problems encountered in the design and development of such insurances. Actuarial problems such as pricing and reserving are considered within the context of multiple state modeling, providing a vigorous and sound framework for analyzing personal insurances.

This volume is an exploration of the ethical issues raised by health insurance, which is particularly timely in the light of recent advances in medical research and political economy. Focusing on a wide range of areas, such as AIDS, genetic engineering, screening and underwriting, new disability legislation and the ethics of private and public health insurance, this comprehensive and sometimes controversial book provides an essential survey of the key issues in health insurance. Divided into two parts, the first considers the ethics of underwriting, risk assessment and the acceptance and refusal of insurance risk by insurers. Discussing the unjust treatment of high-risk applicants, the authors identify sources of unfairness to both parties of the insurance contract, indicating how reasonable trade-offs can be made. The second part considers the argument for a mix of public and private insurance for acute and long-term care, offering recommendations for changes in the balance of social insurance, and discussing the shift toward long-term contracts in private health care and pension insurance.

This volume is an exploration of the ethical issues raised by health insurance, which is particularly timely in the light of recent advances in medical research and political economy. Focusing on a wide range of areas, such as AIDS, genetic engineering, screening and underwriting, new disability legislation and the ethics of private and public health insurance, this comprehensive and sometimes controversial book provides an essential survey of the key issues in health insurance. Divided into two parts, the first considers the ethics of underwriting, risk assessment and the acceptance and refusal of insurance risk by insurers. Discussing the unjust treatment of high-risk applicants, the authors identify sources of unfairness to both parties of the insurance contract, indicating how reasonable trade-offs can be made. The second part considers the argument for a mix of public and private insurance for acute and long-term care, offering recommendations for changes in the balance of social insurance, and discussing the shift toward long-term contracts in private health care and pension insurance.

This textbook provides a broad overview of the present state of insurance mathematics and some related topics in risk management, financial mathematics and probability. Both non-life and life aspects are covered. The emphasis is on probability and modeling rather than statistics and practical implementation. Aimed at the graduate level, pointing in part to current research topics, it can potentially replace other textbooks on basic non-life insurance mathematics and advanced risk management methods in non-life insurance. Based on chapters selected according to the particular topics in mind, the book may serve as a source for introductory courses to insurance mathematics for non-specialists, advanced courses for actuarial students, or courses on probabilistic aspects of risk. It will also be useful for practitioners and students/researchers in related areas such as finance and statistics who wish to get an overview of the general area of mathematical modeling and analysis in insurance.

In the modern Western world, we tend to be insured by the state or for-profit insurers. We have privileged this system over mutual or micro-insurance, whose long and rich history we tend to forget. Yet, mutual and micro-insurance is becoming increasingly important, both in the Western and in the non-Western world and bears re-examination. This book traces the track record of mutual insurance from 1550 to the present, examining provisions for burial, sickness, unemployment, old age, and widowhood. The author seeks to address such topics as the type of risks micro-insurance covered between 1550 and 2015; how it was organized throughout its history; who provided the coverage; and how contributions, benefit levels, and conditions have changed. Importantly, the author explores why this system has worked through, and endured, the test of time. Mutual insurance can, for instance, overcome classic insurance problems such as adverse selection and moral hazards. The author demonstrates that the study of the position micro-insurance historically assumed in mixed economies of welfare presents interesting lessons for today's insurance market, as well as for today's mutualism.

Concentrating on practical examples, this text is presented in the style of a workbook for anyone involved in reinsurance operations. It includes 33 slip examples complete with underwriting information and comment. Chapters include coverage of reinsurance line limits and retentions, expenses, accumulation and reinsurance protection, systems and controls, rescuing and underwriting examples.

Practical Risk Theory is designed to be a textbook for practising actuaries and student actuaries on the practical aspects of stochastic modelling of the insurance business. It has its roots in the classical theory of risk but introduces many new elements that are important in managing the insurance business but which are usually ignored in the classical theory. These include modelling the stochastic behaviour of inflation and investments, cyclical effects on both claims and premiums, claaim run-off uncertainty and feed-back mechanisms. The main focus of the book is on general insurance (property/casualty insurance) but there are also chapters in life insurance and pensions. Practical tips are given for the use of simulation to solve both short-term and long-term problems, with many practical applications. The text avoids the use of complex or abstruse mathematical formulations and makes liberal use of diagrams and graphical representations.

Title insurance is central to the health of the home mortgage market and the commerical real estate business, and its regulation has a profound impact on the prices that consumers pay for title insurance and the kinds of coverages that are available. Dr. Lipshutz provides a concise but comprehensive overview of the key economic policy issues that arise in regulating this small but critical segment of the insurance industry. This is the first book to examine title insurance from a primarily economic viewpoint and contains much information on the operations of the industry that is available nowhere else. The book is particularly timely because title insurance regulation is currently under intensive study by a number of state insurance departments and by the National Association of Insurance Commissioners.

Risk Analysis in Finance and Insurance, Second Edition presents an accessible yet comprehensive introduction to the main concepts and methods that transform risk management into a quantitative science. Taking into account the interdisciplinary nature of risk analysis, the author discusses many important ideas from mathematics, finance, and actuarial science in a simplified manner. He explores the interconnections among these disciplines and encourages readers toward further study of the subject. This edition continues to study risks associated with financial and insurance contracts, using an approach that estimates the value of future payments based on current financial, insurance, and other information. New to the Second Edition Expanded section on the foundations of probability and stochastic analysis Coverage of new topics, including financial markets with stochastic volatility, risk measures, risk-adjusted performance measures, and equity-linked insurance More worked examples and problems Reorganized and expanded, this updated book illustrates how to use quantitative methods of stochastic analysis in modern financial mathematics. These methods can be naturally extended and applied in actuarial science, thus leading to unified methods of risk analysis and management.

By the eve of the Great Depression, there existed in America the equivalent of a policy for every man, woman and child, and in Britain it grew from its narrow aristocratic base to cover all social classes. This primary resource collection is the first comparative history of British and American life insurance industries.

By the eve of the Great Depression, there existed in America the equivalent of a policy for every man, woman and child, and in Britain it grew from its narrow aristocratic base to cover all social classes. This primary resource collection is the first comparative history of British and American life insurance industries.

This Palgrave Pivot assesses the impact of the regulatory framework for derivatives built post-crisis and examines its ambition to centralize and minimize credit risk, enhance transparency, and regain control. Zelenko delves into the powerful destabilizing forces exerted by derivatives markets in the global financial meltdown of 2008. Recapping the evolution in markets and counterparty risk management, as well as key aspects of regulation and their impact, this book aims to give readers the big picture and foster a deep understanding of the role of derivatives markets in the financial crisis. This practical angle will give useful keys to end-users and their risk managers, as they are faced with a new, complex, and changing environment. Additionally, this book conducts a comprehensive analysis of the new metrics the market has created to model, price, and manage credit risk, such as the Credit Value Adjustment (CVA), the Debt Value Adjustment (DVA), or the Funding Value Adjustment (FVA), and takes full stock of a domain that is still in rapid evolution. This volume covers the concepts, methods, and approaches taken by banks to manage counterparty credit risk in their derivatives activities in the new post-crisis market and regulatory environment, and it aims to highlight what is practical and effective today.

Across the European Union, common problems and challenges have arisen related to the accessibility, quality, and financial sustainability of long-term healthcare services, which represent a new social and medical risk. This book compares national policies in Norway, Germany, and the Netherlands and how these countries approach issues such as old-age insurance, home-help programs,and mental healthcare. The contributors look at different paths of policy development, identify problems faced by public and private parties, and ultimately discuss possible solutions.

Actuaries are experts in assessing risk, so it is not surprising that over the past few years they have become involved in many new areas of financial planning, including the appraisal of major capital projects. In this collection of essays published to celebrate the Institute of Actuariesa 150th Anniversary, leading experts describe how actuarial concepts have contributed to many important social and financial developments, and how these ideas will continue to "make financial sense of the future." Even non--mathematicians will find this book useful in understanding how the scientific bases of the insurance and pensions industries grew up, and how they work today. The authors each write from the perspective of their own special expertise. They include five former presidents of the Institute of Faculty of Actuaries.

The life insurance industry was one of the most important financial institutions of the long 19th century, on both sides of the Atlantic. By the eve of the Great Depression, there existed in America the equivalent of a policy for every man, woman and child alive at the time, whilst in Britain the life insurance market grew steadily from its narrow aristocratic base to encompass all social classes at home and throughout the empire. The sources in this edition are collected in three themed volumes.

In recent years a number of global brands in the automotive, food, toy and consumer goods sectors have suffered following (badly handled) product recalls. Their brands have been damaged and they have suffered significant loss of revenue and market share. In an age when images of defective products spread around the globe in minutes, it is more important than ever for producers to be aware of their legal obligations when recalling products. It is also imperative that they have crisis management processes in place before a recall is initiated, if they are to avoid the common pitfalls. The possible criminal prosecution of directors who fail to meet their obligations adds intensity to the boardroom focus on this area. The often significant costs associated with recalls have led to the growth of insurance as a means of transferring the risk. Across jurisdictions, there are significant differences in the law and practice relating to product safety regulation, recall and liability. This is reflected in the different forms of insurance available for the range of exposures that can arise from products. Featuring chapters from Uria Menendez, Norton Rose and Minter Ellison, this first edition covers key issues that can arise in relation to product regulation, recall, liability and insurance coverage in a number of jurisdictions in Europe, North America, South America and Asia. Whether you are a director or risk manager of a producer, distributor or retailer of products, or a lawyer or insurance professional, this guide is an essential tool. It is unique in detailing the different recall obligations and underlying liability issues of companies in jurisdictions around the world, as well as analysing the different insurance covers available for the sector-specific range of product exposures.

Reflecting the author's wealth of experience in this field, Handbook of Solvency for Actuaries and Risk Managers: Theory and Practice focuses on the valuation of assets and liabilities, the calculation of capital requirement, and the calculation of the standard formula for the European Solvency II project. The first three sections of the book examine the solvency concept, historical development, and the role of solvency in an enterprise risk management approach. The text provides a general discussion on valuation, investment, and capital, along with modeling and measuring. It also covers dependence, risk measures, capital requirements, subrisks, aggregation, the main risks market, and credit, operational, liquidity, and underwriting risks. The last three sections focus on the European Solvency II project. Basing the material on CEIOPS final advice, the author presents the general ideas, valuation, investments, and funds of this project as well as the standard formula framework. He also includes all calibrations from previous quantitative impact studies and discusses the political progress of the project. A one-stop shop for actuaries and risk managers, this handbook offers a complete overview of solvency and the European Solvency II standard formula. It gives a clear definition and broad historical review of solvency and incorporates a comprehensive discussion of the theory behind the calculation of the capital requirement. Updates on solvency projects and issues are available at www.SolvencyII.nu