A Study on
the Present Condition of Affordable Health Insurance Schemes in India
-- Samuel B Sekar
Nearly
1.3 billion people around the world lack access to affordable healthcare, including
people from India. The affordability problem has been addressed to a certain extent
by the introduction of affordable insurance schemes. These schemes refute the
government's assumption that impoverished families of rural India are not capable
of availing healthcare services through payment of health insurance premiums.
Affordable health insurance schemes have made healthcare services affordable and
accessible. This paper studies the present condition of the affordable insurance
schemes in India.
©
2007 IUP . All Rights Reserved.
Political
Risk Reinsurance Pricing—A
Capital Market Approach
-- Athula
Alwis, Vladimir Kremerman, Yakov Lantsman,
Jason Harger and Junning Shi
Political
risk insurance is concerned with the risk associated with government intervention
and restriction of trade into emerging markets. It may encompass long-term perils
(investment related), such as the confiscation, expropriation or nationalization
of an infrastructure project in an emerging market or short-term perils (export
trade related), such as contract frustration, embargo or currency inconvertibility.
Today, exposure to the political will of a host country is being challenged by
economic events blurring the landscape for political risk, which is creating a
growing need for better informed econometrics, and advanced analysis of risk verses
reward, as well as a broader interpretation of covered perils and events. The
need for reinsurance capacity in political risk is higher than it has been in
a decade. However, more and more reinsurers are either restricting the coverage
or entirely leaving the practice. This paper proposes an objective reinsurance
pricing methodology to assess the risk of writing a large political risk reinsurance
portfolio based on country risk ratings, sovereign ceilings, political risk default
rates and severity assumptions based on historical data. The paper also incorporates
a mechanism to indicate the effects of regional and trade correlations based on
advanced credit modeling. Having such an objective methodology to assess the risk
of reinsuring political risk should broaden support from traditional reinsurance
markets, and attract risk capital from the capital markets.
©
2006 Athula Alwis, Vladimir Kremerman, Yakov Lantsman, Jason Harger, Junning Shi.
This paper was originally published by the International Congress of Actuaries
(ICA) in May 2006. Reprinted with permission.
The
Economic Viability of Cyber Insurance: Seeking Financial Certainty in
IT Security
-- Bosco
Tan
Cyber
insurance describes insurance products that can be purchased by organizations
in an effort to transfer the financial consequences of IT security incidents.
While such products have found growing popularity internationally, adoption in
Australia has been slow and can be attributed to a lack in both demand and supply.
Currently, the most common approaches to cyber security utilize a combination
of technology and operational/procedural solutions. While these mechanisms are
often successful in managing the likelihood of a given incident, they are not
able to determine with certainty the full financial cost of IT security—including
both costs of protective mechanisms, and forecast losses associated with incidents—subsequently
resulting in unfavorable scenarios for managers requiring predictable financial
outcomes. Insurance could potentially bring about a solution to the economic problem
which exists as a result of cyber insecurities. With the aid of key players such
as the IT security industry, the insurance industry and government, a mature cyber
insurance market can deliver benefits for five functional groups: governance,
management, security management, research and development and product procurement.
©
2006 SIFT Pty Limited. Reprinted with permission.
Case
Study
AIG's E-business Risk Insurance Solutions
-- K
Yamini Aparna
©
2005 ICMR. All Rights Reserved. For accessing
and procuring the case study, log on to www.ecch.cranfield.ac.uk
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