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Premiums in a competitive insurance market
Journal of Banking & Finance, 1983From the assumption that the reinsurance market is complete, simple expressions for the competitive equilibrium are derived. It is argued that the equilibrium premiums in reinsurance, in the long run will determine premiums also in direct insurance. Some support for this argument is derived from a study of insurance against earthquake damage. The paper
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Premium valuation in international insurance
Scandinavian Actuarial Journal, 1987Abstract This article develops a premium valuation formula for international insurance and reinsurance contracts. Specifically, the expected utility equivalence framework is reformulated in a dynamic mode to account for the stochastic nature of exchange rates movements which allows for the joint factoring of insurance and exchange risk into the premium
Laurent L. Jacque, Charles S. Tapiero
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Premium Calculation in Insurance
1984Opening session.- Invited address.- Invited lecture: Some major issues in economics and insurance developments.- Main lectures.- Risk convolution calculations.- Risk sharing, incentives and moral hazard.- State-dependent utility, the demand for insurance and the value of safety.- Separation of risk parameters.- Weighted Markov processes with an ...
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Risk-Based Premiums for Insurance Guaranty Funds
The Journal of Finance, 1988Insurance guaranty funds have been adopted in all states to compensate policyholders for losses resulting from insurance company insolvencies. The guaranty funds charge flat premium rates, usually a percentage of premiums. Flat premiums can induce insurers to adopt h igh-risk strategies, a problem that could be avoided through the use of risk-based ...
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Minimum Premium Health Plans: Insured Non-Insurance: Comment
The Journal of Risk and Insurance, 1970Dr. Eilers has done a service in his article, "Minimum Premium Health Plans: Insured Non-Insurance," 1 in exposing the problem. I disagree, however, with some of his conclusions. Under the Mini-Met plan, the cash flow and the financial position of both the insurer and the employer are the same or substantially the same as under a conventional group ...
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Insurance premiums under demand constraints
Scandinavian Actuarial Journal, 1981Abstract An alternative approach to the variance principle of premium determination is explored. The approach rationalises the principle in terms of an economic theory and formalises the notion that loadings in addition to the ‘fair’ premium are related to competition and expenses.
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Insurance premium rise: be prepared
Practice Management, 2017With financial pressure mounting, practice managers may be tempted to cut back on insurance costs as a way of dealing with the upcoming increase in insurance premium tax. Phil Cowell explains why such measures could increase the risk of under-insurance
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