Search

This article discusses factors that should be considered in the valuation of an independent insurance agency. Independent agencies have undergone significant ownership changes in recent years and this trend will likely continue. These changes will necessitate thousands of valuations for the purposes of internal propagation, sale, inheritance, and more. A valuator that does not understand the nuances of the independent insurance agency business may ignore significant trends affecting the agency, leading to miscalculation of value. [ABSTRACT FROM AUTHOR]

This paper introduces a novel cyber incident cost estimation methodology, applicable to large Australian healthcare providers. A review demonstrates the poor utility of current risk estimation approaches and the vulnerability of healthcare networks is evaluated using Leibniz's law of indiscernibles, and Evans' theory of vague objects. Finally, a quantitative cost calculation method is proposed, merging temporal and impact variables with service data from the Australian Institute of Health and Welfare. This research demonstrates that existing attempts to measure cyber incident risk produces vague results. This is evidenced by 929 Australian healthcare data breaches recorded over 5 years, a AU$0.6bn annual national risk exposure, and low levels of healthcare cyber maturity across three states. The likelihood of data breaches is reported as 99.4%, with known ICT vulnerabilities exceeding 207,000. After logically concluding that healthcare networks are fundamentally insecure, an 'operational shock' calculation method is modelled against the AIHW data, to illustrate realistic cyber incident costs. This returns an exposure across Australia's acute care hospital network of AU$148.1 m from a single incident that takes 1 week to resolve. In considering this quantum, risk transfer options using cyber insurance and improved agency cyber risk programs are required to mitigate significant financial risks. [ABSTRACT FROM AUTHOR]

While the National Disability Insurance Scheme (NDIS) has been operating in Australia for 10 years, numerous eligible people with disability have not accessed the scheme, many of whom are in prison. The South Australian Government, in partnership with the National Disability Insurance Agency (NDIA), implemented a pilot programme to assist people in prison to access the NDIS as having NDIS supports on release may reduce the risk of returning to custody. This qualitative study, drawing on interviews with 20 stakeholders, explores the enablers and barriers of assisting people with disability in prison access the NDIS. Our findings show that while custodial settings provide opportunities to assist people with disability to have their eligibility for the NDIS assessed, prisons are difficult settings in which to undertake subsequent assessment and planning processes to determine the supports available on release. People with disability exiting prison also face significant challenges accessing suitable accommodation and support services, particularly when their needs are complex. Further work is required to ensure planning and assessment processes meet the needs of this group. The findings provide useful insights to both justice and other institutional settings and respond to many of the questions raised by recent public inquiries and reviews. [ABSTRACT FROM AUTHOR]

This study investigates whether directors' and officers' liability insurance (D&O insurance) misleads creditors' lending decisions by examining its effect on corporate debt maturity structure. We find that purchasing D&O insurance leads to increased corporate debt maturity, and this effect is more pronounced for firms with weaker corporate governance. These results suggest that creditors may view D&O insurance as an external monitoring tool that helps improve corporate governance. However, D&O insurance induces higher firm risk, but cannot help decrease agency costs or improve firm performance, that is, it results in more severe managerial opportunism. Our findings suggest that D&O insurance, to some extent, misguides creditors' lending decisions. [ABSTRACT FROM AUTHOR]

BACKGROUND AND OBJECTIVES: Nowadays, companies are required to pay more attention to the environment based on an increase in environmental laws and an increase in public sensitivity to environmental issues. The current research is conducted with the aim of investigating the effect of marketing intelligence on green insurance activities from the customers’ points of view (case study of Sarmad insurance agencies in Bushehr province). METHODS: In terms of purpose, the present research is applied, and in terms of implementation method, it is descriptive-survey of correlational type. The statistical population of this research consists of customers of Sarmad Insurance in Bushehr province. In order to identify the statistical sample size, simple random sampling was used and the sample size was determined to be 384 people. The tool for measuring research variables is a questionnaire, which was used to check the validity and reliability of SPSS software. The content validity of the questionnaire was confirmed by the opinion of experts and the incomprehensible items were removed. Structure validity was confirmed using the confirmatory factor analysis and sampling adequacy indices and Bartlett’s significance value. The reliability of the questionnaire was obtained using Cronbach’s alpha coefficient and the total reliability value was 0.93. Also, to check the research hypotheses, the structural equation model (partial least square), SmartPLS software was used. FINDINGS: The findings of the research indicate that the intelligence of marketing on green insurance activity with the value of t-statistics (13.13), the effectiveness and usefulness of green insurance activities with the value of t-statistics (7.48), the support of information and communication technology on green insurance activity with t-statistic value (8.83), market opportunity on green insurance activity with t-statistic value (6.36), competitive risk on green insurance activity with t-statistic value (5.31) and internal records on insurance activity green has a positive and significant effect with the value of t-statistic (4.88). CONCLUSION: Using the structural equation modeling, the research hypotheses can be investigated. The result of the research shows that market intelligence has the highest impact and internal records have the lowest impact on green marketing activity in Sarmad Insurance. [ABSTRACT FROM AUTHOR]

Risk is always a part of practicing medicine, and 2024 has no shortage of challenges practices must face to succeed. Medical Economics spoke with Peter Reilly, North American health care [...]

We conducted a media thematic agenda analysis of 528 articles on retirement from five influential online newspapers in Slovakia between January 1, 2022, and June 30, 2023. The aim was to understand these newspapers' societal discourses on retirement, the breadth and completeness of their coverage of retirement topics, and which aspects they emphasized and overlooked. The analysis found that the media coverage during the selected period did not address various retirement issues. Quantitative analysis revealed that economic and legislative aspects dominated, followed by political positions on retirement issues, information from the Social Insurance Agency, details about adjustments to the pension system, and expert opinions. Financial preparation for retirement received minimal coverage, while psychological, socio-psychological, and sociological contexts of retirement were on the periphery of media attention. As the media reflect and shape cultural beliefs about retirement, our findings provide insights into the retirement culture within a nationally specific framework. Considering that retirement culture is under-researched in social science studies, we recommend focusing on a research program to delve deeper into this issue in Slovakia. [ABSTRACT FROM AUTHOR]

The suite of U.S. federal farm programs available to organic farmers includes conservation programs through the Environmental Quality Incentives Program (EQIP) and Conservation Stewardship Program (CSP), risk management through crop insurance, and the Organic Certification Cost Share Program (commonly referred to as Organic Cost Share or just Cost Share). Of these programs, the Organic Cost Share is the most widely used. Many organic farmers do not enroll in conservation programs or purchase crop insurance. The underutilization of federal farm programs by organic producers is well known in the organic community, but there is a lack of systematic evidence about the rationale for not applying for or using programs. Using qualitative data collected through structured interviews, we find that many organic producers want to participate in the Organic Cost Share, EQIP, CSP, and crop insurance. Many are successful, but others face institutional, cultural, and programmatic barriers that prevent them from participating. A key recommendation from this study is the creation of specialized, highly trained crop insurance and conservation agents with expertise in organic farming systems to facilitate the application process and program use for conservation programs and crop insurance. The Organic Cost Share Program would have more impact if its funds were used to support beginning organic farmers in addition to small-scale farm operators. [ABSTRACT FROM AUTHOR]

Copyright of Revista Entramado is the property of Universidad Libre Seccional Cali and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This research focuses on the implementation of Operational Excellence (OE) in the pharmaceutical industry, especially in companies that transformed from PT Askes (Persero) to the Health Insurance Organizing Agency (BPJS). With the entry of the COVID-19 pandemic in early 2020, the need for industry readiness in the face of unexpected changes was further exposed. One approach adopted is Lean Six Sigma (LSS) which is supported by the Manufacturing Execution System (MES) to improve the efficiency and quality of the production process. This research takes a case study on product A with a focus on improvements to hardness issues. Through the Define, Measure, Analyze, Improve, and Control (DMAIC) stages, traditional methods and advanced analysis based on Machine Learning (ML) algorithms are used to improve production processes. The results showed success in achieving significant improvements in the productivity index and quality of product A production processes, making a valuable contribution in the context of Operational Excellence research in the pharmaceutical industry. The LSS method, which has been modified by integrating with ML algorithms and MES, provides productivity aspects consisting of LT, PCE and TD, as well as quality aspects consisting of better Pp, Ppk and sigma levels. The modified LSS method also provides the potential for COGM savings of 2,66 billion Rupiah and reduces the risk of production process failure to less than 200 batches for every 1 million production batches. Based on this, it can be concluded that the development of the Lean Six Sigma method which has been integrated with ML and MES algorithms has the positive potential to increase OE at ABC Farma. [ABSTRACT FROM AUTHOR]

The aims were to investigate 1) the frequency of nonsurgical retreatment, root-end surgery, extraction, and further restorative treatment during a follow-up of 10–11 years after root filling and compare the frequencies according to tooth group and type of coronal restoration and 2) the timing of nonsurgical retreatment, root-end surgery, and extraction. Data were collected from the Swedish Social Insurance Agency's register. A search for treatment codes identified teeth root filled in 2009 and the type of coronal restoration (direct, indirect, and unspecified) registered within 6 months of root filling. The root-filled teeth were followed 10–11 years, and further interventions were recorded. Descriptive statistics and chi-square tests were used for statistical analysis. In 2009, root fillings were registered for 215,611 individuals/teeth. Nonsurgical retreatment, root-end surgery, and extraction were undertaken in 3.5%, 1.4%, and 20% teeth, respectively. The frequency of further interventions varied with respect to tooth group and type of coronal restoration, but only slightly for endodontic retreatments. Further interventions, except for root-end surgery, were registered more often for molars and directly restored teeth (P <.001). The majority of endodontic retreatments were undertaken within 4 years, while extractions were evenly distributed over 10–11 years. The frequency numbers of nonsurgical retreatment and root-end surgery were low, despite 1 in 5 root-filled teeth registered as extracted. Further interventions were most common in molars and directly restored teeth. Endodontic retreatments were performed more often during the first 4 years. [ABSTRACT FROM AUTHOR]

Copyright of Al-Banjari is the property of Pascasarjana UIN Antasari and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Tropical forest peoples rely on wild resources to cope with adverse shocks (i.e. natural insurance). However, research has shown its limited scope against health shocks that constrain labor supply responses. This article examines natural insurance against illness through the lens of gender. We conducted a large-scale household survey in the Peruvian Amazon, where men mostly do wild resource harvesting. We found that fishing and nontimber forest-product gathering increased against female illness and remittances increased against male illness, suggesting that the scope of natural insurance and risk sharing against illness is shaped by gender in a complementary way. (JEL O13, O15) [ABSTRACT FROM AUTHOR]

This study delves into the examination of gender diversity trends within the Indian insurance sector, with a particular focus on women's roles as insured, agents, and employees. The study is based on secondary data compiled from the Annual Reports of the IRDAI spanning from 2017-18 to 2022-23. Notably, it reveals that in the life insurance sector, LIC exhibits a commendable performance in terms of women policy holders in comparison to private sector counterparts. However, in the context of gender diversity in employment, private insurance companies take the lead, both in the life insurance and general insurance segments. Consequently, it is evident that while private sector insurers should strive to increase policies issued to women, the public sector, along with the regulatory authority IRDAI, needs to make concerted efforts to enhance female representation within their workforce. Thus, the collaborative efforts from all stakeholders will foster a more equitable insurance sector. [ABSTRACT FROM AUTHOR]

The livestock insurance mechanism is recognized as a highly effective risk mitigation strategy, crucial for safeguarding farmers against uncertainties and potential losses. Despite its advantages, the uptake of cattle insurance among farmers remains notably low. To address this issue, a detailed investigation into the status of cattle insurance and the challenges faced by farmers and other stakeholders was conducted in Karnataka, India. The study involved a sample of 240 dairy farmers, with 80 households each from the Kolar, Shivamogga, and Dharwad districts. Data were collected through personal interviews and analyzed using tabular analysis, the Z-test statistic, the Mann-Whitney's U test, and the Henry Garrett Ranking Technique. The findings revealed that only 41.25% of the sampled households had insured their cattle. An inter-district comparison indicated that Kolar district had the highest insurance uptake at 66.25%, followed by Shivamogga at 40%, and Dharwad at 17.50%. The analysis further demonstrated that insured farmers typically had a lower average age, more years of schooling, and smaller family sizes compared to their non-insured counterparts. Additionally, insured animals were generally older and belonged to higher lactation orders compared to non-insured animals. Furthermore, the market value of insured animals was significantly higher than that of non-insured ones. The study identified several key constraints contributing to the low adoption of cattle insurance. These included a lack of awareness regarding insurance policies and regulations, limited coverage beyond mortality, discrepancies between insured and actual market values, and complex procedural requirements. Insurance agencies also faced challenges such as difficulties in arranging necessary documentation for insurance claims and ensuring compliance with insurance regulations by dairy farmers. In summary, while cattle insurance provides substantial benefits, its uptake is impeded by several factors. Addressing these challenges through improved awareness and streamlined processes could enhance the adoption rates and effectiveness of cattle insurance in mitigating risks for farmers. [ABSTRACT FROM AUTHOR]

The current healthcare insurance claim requires more procedures to be claimed from an insurance company. Healthcare insurance companies are crucial for patient financial assistance, but efficient claim processing can lead to lower the levels of care. Patients have already claimed insurance in certain locations and are attempting to claim it again in another location. This work proposes to increase claim speed, avoid fraudulent claims, and provide privacy for patient data on decentralized storage through permissioned blockchain. To ensure patient data privacy and assist insurance agents and individuals in verifying eligibility and claim status, hash values are used to store data in a block. Every claim's information is stored in a block. If the patient attempts to claim again, the agent will validate the block and have the option to accept or reject the request. The integrity, speed, and security of patient health information can be achieved through this technique. [ABSTRACT FROM AUTHOR]

The Insurance Marketplace Standards Association (IMSA) was inspired by the American Council on Life Insurance (ACLI) in the mid1990s and launched as an independent membership organization by the time its initial corporate members could first announce their participation, in April 1998. Now, little remembered 12 years after it ceased operation, IMSA was an experiment in aspirational ethics initiated in its first 3-year membership period by 155 life insurance companies. IMSA offered transparency into an insurance company’s long-term relationship with its policyholders. The irony was that almost all of the elements of an ethical marketplace, in fact, start in the consumer’s interaction with life insurance agents—most of whom had never heard of IMSA or its aspirations. This column contains a proposal for a new set of aspirational standards between agents and their customers. [ABSTRACT FROM AUTHOR]

The main purpose of this study is to identify the buffering role of employee self-control on the positive association between perceived organizational injustice and deviant behaviors. We got surveys-based data from full-time workers of the Netherlands' Employee Insurances Agency (UWV). Fundamental analysis of data exhibited a good fit between the data and the model tested. In line with our expectation, a significant positive significant relationship was observed between the predictor and outcome variables. Moreover, the moderating impact of self-control on the positive significant relationship between distributive injustice (DJ) and procedural injustice (PJ) with organization-directed deviant workplace behaviors (DBO) was also confirmed. Similarly, analysis also revealed that self-control moderated the association between perception of interactional injustice (IJ) of employees and Individual-directed deviant workplace behaviors (DBI). [ABSTRACT FROM AUTHOR]

In this study, a detailed deterministic seismic hazard analysis of Ongole city, Andhra Pradesh, India, has been conducted. Owing to its historical seismic activity and regional tectonics, a control region with a radius of 500 km around the Ongole collectorate (Latitude 15.4988º N, Longitude 80.0497º E) was selected for identifying seismic sources and development of seismotectonic map. A total of 59 seismic sources were identified, and the maximum magnitude (Mmax) for each source was determined by considering regional rupture characteristics and various deterministic methods. Eleven Ground Motion Prediction Equations (GMPEs), including those developed for Peninsular India as well as similar tectonic regions elsewhere, were taken into account and the log-likelihood (LLH) method applied to assign weightage factors to each GMPE. The city of Ongole was divided into 180 grid points, each measuring 0.004º × 0.004º (equivalent to 0.4 km × 0.4 km). Spatial variations of rock site Peak Ground Acceleration (PGA) maps were plotted for Scenarios 1, 2, and 3 considering Deterministic Seismic Hazard Analysis (DSHA). Based on the findings of the study, it is observed that PGA ranges from 0.148 to 0.173 g for Scenario 1, from 0.188 to 0.220 g for Scenario 2, and from 0.168 to 0.196 g for Scenario 3 with controlling source of Gundlakamma Fault. Additionally, a comparative assessment was carried out between the results of this study, past studies in the literature, and the IS 1893 (Part 1) (Criteria for earthquake resistance design of structures, part-I. Bureau of Indian Standard, New Delhi, 2016) codal provisions. Finally, the response spectrum has been plotted for the Ongole collectorate, considering all three scenarios. The outcomes of the present study could significantly assist insurance agencies in policy-making and aid builders in designing new structures and retrofitting existing ones. [ABSTRACT FROM AUTHOR]

We consider a model of internal competition, where projects developed by agents with different preferences compete for resources in an organization. Allowing a manager—who has moderate preferences—to control the allocation of resources has benefits when preferences are not too diverse. In particular, the manager acts as a mediator, forcing agents to compromise when competing projects succeed, thus providing better insurance to agents and increasing their effort. Our framework provides a theoretical foundation for two influential views of a manager—as the "visible hand" that allocates resources, and as a "power broker" who resolves conflict in an organization. [ABSTRACT FROM AUTHOR]

Copyright of Internationales Handelsrecht is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Earthquakes are catastrophic natural disasters, and the built environment requires a quick recovery after such events. Estimating the loss from an earthquake can be complex as unique factors, in addition to conventional repair work, that need to be considered during the postperiod stage. Previous research has been able to identify 11 factors that impact the postearthquake cost estimation for the earthquake damage repair work (CEEDRW) process. Current loss estimation methods such as PACT, SLAT, and SP3 do not incorporate the impact of all these factors. This paper identifies the factors that impact different stages of traditional CEEDRW: precontract estimates, estimates during repair work, and cost calculations after construction. Discussion around methods to adopt these modeling factors into CEEDRW is also presented. A two-stage data collection method was adopted for this paper. Data were collected through semistructured interviews using 19 participants and a questionnaire survey using 92 participants who have experience in the CEEDRW process. The interview data analysis emphasized the usage of 11 factors at the three stages of estimation. Furthermore, survey results identified the most suitable methods of incorporating each factor in CEEDRW. Existing estimation tools used for CEEDRW do not consider a number of factors. This paper suggests the most suitable methods of considering these into an estimation tool that aims to enhance the accuracy and reliability of the CEEDRW process. The methods identified in this paper can be used in developing more reliable future cost estimation models used to determine postearthquake damage repair work. The data were collected from professionals who are experienced in housing repair work in New Zealand. The results vary for other types of geographic regions and construction methods. Currently used postearthquake cost estimation processes for earthquake damage repair work have a lot of drawbacks. To achieve the final aim of developing a standard postearthquake cost estimation model for earthquake damage repair work that is more accurate and faster than current ones, this research achieved one of the objectives of identifying methods that can be used to mitigate problems of the current cost estimation process. The research identifies methods that can be used to include factors that were not fully considered in current postearthquake cost estimation processes. The results of the research will help with increasing the accuracy of the upgraded model. The next step in this process is the develop the upgraded standard postearthquake cost estimation model for earthquake damage repair work. Even with the current findings, cost estimators, builders, and insurance agencies can improve their cost estimation process by including the impact of the factors through the suggested methods. Governments can implement changes to standard construction contracts and policies so that the construction industry can positively manage the cost-varying dynamics of earthquake damage repair work. [ABSTRACT FROM AUTHOR]

Guarantee of autonomy and stability of economic subjects from the government can be considered an important gauge of state security. Due to the financial, migration and energy crisis, we can observe a notable increase of social problems, which gives more importance to the policy for social security of the population. In this article we address the ongoing problem of an excessively high number of debts owed to the Slovak Social Insurance Agency in recent years. The social security system for trade-licence holders, its financing and the method of enforcement are briefly characterised. The development of the payment/non-payment of taxes and levies to the Social Insurance Agency is tracked against the background of legislative changes. In the conclusion, the ineffectiveness of selected legal provisions and processes of exacting taxes and social security contributions is evaluated in terms of their impact on the financial disciplines of tradelicence holders in the Slovak Republic. Severity of the deficit in money collected on social insurance poses a threat in several areas, such as providing social security to all citizens in some required quality as guaranteed by the government, or sustainability of the public finance which poses a risk for the whole economic security of the country. [ABSTRACT FROM AUTHOR]

Importance of Insurance is catching up since 1991, but still, some people are not able to buy any kind of insurance product because of poverty. Indian insurance market is growing rapidly, though its size is very small comparing it with USA and China. But it has been expanding in leaps and bounds. In order to know the development and trends in the insurance sector, present paper uses semi log model and Anova techniques. The direct selling brings larger business. Reliance on individual agents had not yet come down. The remarkable sign is that, the business share of corporate agents-bank is increasing though there is no separate team with banks to market the insurance products. Business from new century digital means in the total new business of insurance does not increasing and going beyond 1 per cent. In fact, it should catch up the speed so that insurance companies can save the commission. [ABSTRACT FROM AUTHOR]

The subject of consideration is the supervisory powers of the Financial Supervision Authority in terms of the control of insurance agents. Act of 15 December 2017 on Insurance Distribution (i.e. Journal of Laws of 2023, item 1111, as amended) introduced the possibility of conducting inspections of insurance agents’ activities by supervisory authorities. The Financial Supervisory Authority is the body that supervises the financial market, including the supervision of activities related to the distribution and redistribution of insurance. The literature on the competency framework of the Financial Supervisory Authority’s supervision of the activities of insurance agents is very limited. It therefore becomes necessary to focus on one aspect of this issue, i.e. access to documents and data contained in the information and communication systems controlled by insurance agents under supervision. The purpose of the article is to examine the limits of permissible intervention by the Financial Supervision Authority in the activities of an insurance agent when performing supervisory functions. Research methods: The article has been drawn up mainly using the formal-dogmatic method. It involves the description and systematization of legal norms, interpretation of regulations, as well as an analysis of the practice of application of the law by both state administrative bodies and courts. [ABSTRACT FROM AUTHOR]

Copyright of International Journal of Management Academy is the property of Uluslararasi Yonetim Akademisi Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In the ever-evolving capital market, safeguarding shareholder rights and interests is paramount for Chinese listed companies facing escalating risks. This article explores the dynamic discourse surrounding Directors and Officers (D&O) insurance, focusing on its implications in emerging markets with lower institutional support and disclosure quality. Spanning 2000 to 2020, this study rigorously examines the impact of D&O insurance in China, investigating its associations with capital markets, regulatory frameworks, managerial practices and financial reporting. My analysis reveals that D&O insurance correlates negatively with CEO turnover and litigation risk. However, its influence on investment efficiency, earnings management, financial reporting and corporate governance is comparatively modest. I also uncover nuanced disparities between state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). In SOEs, where CEOs are appointed by the government and litigation risk is lower, D&O insurance’s impact is less pronounced. Conversely, non-SOEs, facing higher litigation risk, find greater significance in D&O insurance as protection against legal action. In summary, this article highlights D&O insurance’s role as a protective shield for CEOs and underscores its evolving dynamics in Chinese listed companies’ corporate governance and risk management. [ABSTRACT FROM AUTHOR]