Investment Management for Insurers details all phases of the investment management process for insurers as well as fixed income instruments and derivatives and state-of-the-art analytical tools for valuing securities and measuring risk. Complete coverage includes: a general overview of issues, fixed income products, valuation, measuring and controlling interest rate risk, and equity portfolio management.

This is a new edition of a very successful introduction to statistical methods for general insurance practitioners. No prior statistical knowledge is assumed, and the mathematical level required is approximately equivalent to school mathematics. While the book is primarily introductory, the authors discuss some more advanced topics, including simulation, calculation of risk premiums, credibility theory, estimation of outstanding claim provisions and risk theory. All topics are illustrated by examples drawn from general insurance, and references for further reading are given. Solutions to most of the exercises are included. For the new edition, the opportunity has been taken to make minor improvements and corrections throughout the text, to rewrite some sections to improve clarity, and to update the examples and references. A new section dealing with estimation has also been added.

This applied study addresses the large flood exposures of Central Europe and proposes efficient financial and risk transfer mechanisms to mitigate fiscal losses from such natural catastrophes. In 2010 the V-4 Visegrad countries (i.e., Poland, Czech Republic, Hungary and Slovakia) demonstrated their historical vulnerability to floods - Poland suffered $3.2 billion in flood related losses, comparable to it $3.5 billion of losses in 1997. Flood modeling analysis of the V-4 shows that a disaster event with a 5 percent probability in any given year can lead to economic losses in these countries of between 0.6 percent to 1.9 percent of GDP, as well as between 2.2 percent to 10.7 percent of government revenues. Larger events could quadruple such losses. The European Union Solidarity Fund is available as a mechanism for disasters but it comes into effect at only very high levels of losses, does not provide sufficient funding, and is not speedy. An insurance-like mechanism for National Governments can be tailored for country-portfolio needs for buildings, properties and critical infrastructure. By virtue of the broad territorial scope, fiscal support should use mechanisms that provide payments triggered by physical flood measurements in selected areas (rather than site-by-site losses as in the traditional insurance industry). A multi-country mechanism for insurance pooling of risks to protect infrastructure can also provide major cost efficiencies for all governments, using parametric-or index contracts. Savings from pooling can range from 25 to 33 percent of the financing costs that each country would otherwise have paid on its own. There are several instruments and options for both insurance, and debt financed mechanisms for funding catastrophes. All instruments can be analyzed based on equivalencies in terms of market spreads. A hybrid-like instrument, the catastrophe bond, is really a risk transfer instrument but structured as a debt security. The V-4 countries should therefore begin to set up the financial mechanisms to prevent major fiscal losses from future catastrophic floods and avoid fiscal disruptions when these occur. The instruments proposed can be market tested and supplemented with exacting studies on hydrology and topography used to fine tune the loss estimations per event and where property and infrastructure are exposed.|Kill the Messenger is perhaps the most thorough and authoritative work in defense of educational testing ever written. Phelps points out that much research conducted by education insiders on the topic is based on ideological preference or profound self-interest. It is not surprising that they arrive at emphatically anti-testing conclusions. Much, if not most, of this hostile research is passed on to the public by journalists as if it were neutral, objective, and independent. This volume explains and refutes many of the common criticisms of testing; describes testing opponents strategies, through case studies of Texas and the SAT; illustrates the profound media bias against testing; acknowledges testings limitations, and suggests how it can be improved; and finally, outlines the consequences of losing the war on standardized testing.

The ASA Institute for Risk and Innovation has gathered 22 research notes focused on operational risk and written primarily by the institute's research associates. The collection is divided into four sections: business practices, business preparedness, business security, and emerging trends. The collection is introduced by Annie Searle, author of "Advice From A Risk Detective" (Tautegory Press, 2011), who also wrote three of the research notes. From the back cover: "Annie Searle, with support from her colleagues, leverages her expansive knowledge to compile a thought-provoking overview of business continuity planning and operational risk considerations. "Reflections on Risk" looks at the often neglected considerations and necessary controls that organizations of all sizes should consider in order to be more secure and resilient. This is particularly important at a time of rapid change and expanding use of information technology." --John Carlson, Executive Vice President, BITS "The apprenticeship opportunities that Searle's firm provides graduate students has produced a volume of notes that adds to the broader discourse around operational risk." -- Simon Beckett, Publisher, Journal of Business Continuity & Emergency Planning

Banking markets have experienced a general trend towards conglomeration in recent years which has been facilitated by the deregulation of banks' activities. A particular feature of financial conglomeration has been the diversification of banks into insurance activities, and especially life insurance. This book provides a comprehensive analysis of the concept and market characteristics of the bancassurance phenomenon. It also evaluates the impact of banking risks associated with diversification into insurance business.

If your goal is to pass your insurance test the first time without the hassle of big thick study books, the Life & Health Insurance, Iowa License Exam Manual is right for you. Every effort has been made to reduce the number of pages necessary to pass the test. The fresh format has smaller bites of information. Each exam topic is followed by multiple choice questions to reinforce your learning. Designed to stand alone or be used as a supplement, this easy to read manual is complete with a table of contents, insurance text, over 500 multiple choice practice questions, study tips and test taking tips. You will learn the exam topics needed to successfully pass your Life insurance test: types of policies, policy riders, provisions, options, exclusions, completing the application, underwriting, delivering the policy, taxes, retirement, other insurance concepts, and Iowa rules and regulations. Health insurance test topics include: types of policies, policy provisions, clauses, riders, social insurance, field underwriting procedures, other insurance concepts, and Iowa rules and regulations.

If You re New to Business Continuity Planning
or Want a Thorough Corporate Training Tool
with a Variety of Instructional Aids
5 REASONS You ll Want the Most Comprehensive and Up to Date
Business Continuity Handbook Available (c2012):
1) State-of-the-art exposition of the global body of knowledge for Business Continuity Management and Risk Management, " including current international standards and best practices."
2) Flexible, modular design that allows you to customize your own self-study plan: Ten chapters cover fundamental principles and practices; three chapters give greater detail on Information Technology and Emergency Management if your work focuses in these areas; and four chapters explain Risk Modeling if you want a foundation in the statistical underpinnings of risk management.
3) Comprehensive training package for professional development classes, including instructor materials: test bank, syllabi, PowerPoint slides, and sample solutions to case studies, discussions, and end-of-chapter questions. Two of the case studies are integrated throughout the text to give managers experience in applying chapter principles to a service company and a manufacturer.
4) Holistic coverage of two interfacing fields: Business Continuity, which tends to deal with consequences, and Risk Management, which tends to be preventative. Both The Business Continuity Institute (BCI) and The Institute of Risk Management (IRM) have endorsed the book.
5) Quick desk reference for your BCM team offering a readable blend of academic principles and practical applications an effective tool for grounding interdepartmental teams learning to develop and maintain BC plans.
Kurt J. Engemann, PhD, CBCP, is the Director of the Center for Business Continuity and Risk Management and Professor of Information Systems in the Hagan School of Business at Iona College. Dr. Engemann is editor-in-chief of the International Journal of Business Continuity and Risk Management. Professionals from a number of Wall Street banking firms and Fortune 500 companies attend his graduate courses in business continuity and risk management.
Douglas M. Henderson, FSA, CBCP, is President of Disaster Management, Inc. and has consulting experience of 20+years in all areas of Business Continuity and Emergency Response Management. He is the author of several books and templates for business continuity planning.
This is a book that will inform the novice, support the expert and enhance every business continuity planner s efforts to create a resilient organization. The book is well organized as an instructional tool, a reference guide, and a toolkit for practitioners . an executive, a student, or a practitioner who absorbs the content of this book will be better prepared to function in a field where preparedness is absolutely essential.
" Thomas D. Phelan, PhD, Program Director, Emergency and Disaster Management and Fire Science at American Public University System; Founding Member of the U.S. Department of Homeland Security"
Practitioners constantly emphasize the necessity of a holistic approach and I am pleased to see this new book does just that. It is also important to blend theory with practice in this hands-on field; again this is accomplished by authors who have extensive academic and business continuity and emergency management experience. They bring the subject to life with rich teaching and learning features, making it an essential read for students and practitioners alike.
" Phil Kelly, DBA, FHEA, (FIRM); Senior Lecturer, Liverpool (UK) Business School; Lead Examiner, Risk Decisions, The Institute of Risk Management (IRM)"

This book is the culmination and synthesis of Viscusi's distinguished work in the social regulation of risk.

21st Century Americans face challenges more daunting than those experienced by our forefathers and mothers during the Civil War or the Great Depression. The Five Gifts aims to show individuals and families that they can use the power, flexibility, and versatility of participating whole life insurance from a mutual insurance company to... maintain their uniquely American lifestyle insulate themselves from the greed for the accretion of power in Washington and the greed for our money on Wall Street. The 3600 words in this small book reverberate with the wisdom of millions of successful Americans that quietly created wealth using participating whole life insurance as the foundation for their personal economy

This book analyses investment management policies for institutional investors. It is composed of four parts. The first one analyses the various types of institutional investors, institutions which, with different objectives, professionally manage portfolios of financial and real assets on behalf of a wide variety of individuals. This part goes on with an in-depth analysis of the economic, technical and regulatory characteristics of the different types of investment funds and of other types of asset management products, which have a high rate of substitutability with investment funds and represent their natural competitors. The second part of the book identifies and investigates the stages of the investment portfolio management. Given the importance of strategic asset allocation in explaining the ex post performance of any type of investment portfolio, this part provides an in-depth analysis of asset allocation methods, illustrating the different theoretical and operational solutions available to institutional investors. The third part describes performance assessment, its breakdown and risk control, with an in-depth examination of performance evaluation techniques, returns-based style analysis approaches, and performance attribution models. Finally, the fourth part deals with the subject of diversification into alternative asset classes, identifying the common characteristics and their possible role within the framework of investment management policies. This part analyses hedge funds, private equity, real estate, commodities, and currency overlay techniques.

How much do you pay for your auto insurance? If you are reading this, the answer is most likely "too much " You are looking for information that will help you save your hard-earned dollars, and you have found it.

"Ten Questions" has been completely updated, revised, and expanded for 2012. It has also been reformatted for the Kindle at last, and the most effective way to use the guide is to own both the ebook and paperback versions.

"Ten Questions" is not a book for "dummies," but it is an easy to use, half-hour read, specifically designed to help save you money.

It is a comprehensive and detailed explanation of the underwriting process involved in determining the amount of premium you pay. The facts and clear examples included in the guide are based on my years of experience as a top-rated Sales Agent, and the thousands of auto insurance policies I personally have sold.

Chapter One, "Risk" will help you understand what factors are used to determine your rating "tier," and how to improve them. The amount of premium you pay is determined by the amount of "risk" you are seen to represent. Much of that determination is made through your answers to a series of questions you will be asked, either online, or in person by an agent. These are the "Ten Questions" referred to in the title.

Chapter Two, "Discounts" contains a detailed description of nearly every available auto insurance discount, and how to obtain them. A single 5% discount that you have been missing each policy term is costing you far more than this guide will. You will also gain the knowledge that you will need to progressively lower your rates over time.

Chapter Three, "Coverages" is a comprehensive explanation of nearly every available auto insurance coverage, including what each one does, (and does not do) for you, and how to the determine the proper balance of cost versus benefit when choosing them. When you finish reading it, you will know more about auto insurance than most agents do. "Ten Questions" isn't about getting the cheapest policy at the cheapest price: It's about getting the best policy at the best price.

Chapter Four, "Sample Quote Process," is your ultimate weapon in getting your new policy, because it details an actual phone quote in real time, along with the "correct" answers to the "Ten Questions." Knowledge is power, and this guide is a very powerful tool that you will be able to use as long as you are driving and insuring vehicles.

Advanced Topics is new for 2012, and this section includes "Youthful Driver Strategies," and "State Specific Information," such as a layman's explanation of so-called "No-Fault" coverages, and "Full," versus "Limited" Tort.

The Appendix contains all the technical terms that are used in the guide, to help you understand the "trade talk" in the auto insurance industry.

This guide will save you money in several ways, including: It will help you find and qualify for discounts. It will show you how to improve your rating tier, and lower your "base rate." It will help you allocate your premium dollars more effectively, so that you get the best coverage at the best price.

Find out what the insurance companies don't want you to know, like the fact that you can switch carriers any time you want, as often as you want. You do not have to wait until your current policy renews in order to do so.

Learn the answers to the "Ten Questions "today, and get a better policy for less money, tomorrow.

The other driver's insurance company has agreed to pay the cost to repair the collision damage to you new car, but is that all there is. No, you could be entitled to more. The section dealing with automobile property damage will disclose some cash you may have overlooked. You or a resident relative hits an errant shot on the golf course and instead of its intended destination, the ball smashes the windshield of another member's car on the parking lot. You are probably not legally liable for the damage, but you can be a "good guy" and pay the cost to repair under a special coverage in your homeowners' policy. Look at all the possibilities in "Infrequently Reported Homeowners Claims." As a member of a same sex marriage in a state where such unions are recognized, what are your rights with respect to the injuries or wrongful death of a spouse? See chapter "(Damages)" for a discussion of this question. The drunk driver who caused your injuries may not be your only source of retribution. Take a look at "Liquor Liability." A kitchen appliance you have not altered in any way causes a fire that seriously damages your home and injures you or members of your family. What are your rights with respect to claims against the manufacturer or vendor of the product?

We are all excellent consumers. We collectively have no problem clearly identifying what we want, how we want it and when the price is right. We make our educated presence known in almost every marketplace except one-healthcare. Managed care and its first dollar benefits have created a problem and the solution is . consumer directed healthcare. We can fix our system of healthcare and your second largest business expense, behind payroll, if we stop buying health plans and start buying health insurance.

The Manual will help in obtaining a license - or startling your own company. CLAIMS ADJUSTING is haunting, challenging, and every case is of woven complexity, where TRUTH and JUSTICE is your ultimate goal

Publisher's Note: Products purchased from Third Party sellers are not guaranteed by the publisher for quality, authenticity, or access to any online entitlements included with the product. Protect your business from all types of risks--insure your projects with advice from the experts Here you'll find the answers to your questions about insurance, bonding, and risk management for all of your construction projects. This much-needed book helps you assess your requirements for insurance coverage, evaluate policies, find the fairest rates, obtain bonding, and manage risks professionally and confidently. Written by the foremsot experts at Ernst & Young LLP and Willis Corroon Construction, this authoritative guide gives you the information and methods you need to simplify and systematize your project insurance bonding, and risk management issues, and protect your business from all types of liabilities: You'll learn how to: establish your requirements for various types of insurance; determine how to get the insurance you need at the best rate; read and evaluate insurance contracts; secure bonds for both contractors and subcontractors; obtain workers compensation coverage; evaluate environmental issues; understand the role of sureties in litigation. Construction contractors and subcontractors, CPAs, law firms, and insurance and bonding agents will all welcome this comprehensive guide and the authoritative help it gives in ensuring successful outcomes for construction projects of every kind.

This text analyses the effects on insurance markets and consumers, of proposals to require community rating in all health plans.