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COVER
STORY
ERM
: A Paradigm Shift
-- Michael
J Moody
Rating
agencies are pushing acceptance by insurers and reinsurers.
© 2008 Rough Notes (www.roughnotes.com). This article
was first published in the September
2008 issue of Rough Notes. Reprinted with permission.
COVER
STORY
Role
of Risk Management in Insurance
-- GV Rao
Enterprise
risk management is as much applicable to insurers as
to the insured. The insurance industry, with little
financial disclosures from the insurers, and its over-regulation
by the IRDA, is not all that rosy as consumers want
it to be. Getting non-customers of insurance into the
insurance fold is the biggest challenge to both. Creating
demand rather than stimulating supply is not the right
strategy and may be harmful to the insurance system.
© 2008 IUP . All Rights Reserved
MICRO
INSURANCE
Financial
Inclusion, Micro Insurance and the Indian Insurance
Sector
-- Ram Pratap Sinha
Thanks
to the deregulation of the Indian insurance industry,
there has been an impressive growth in the insurance
business. The poorer section of the society, however,
has received little benefit (if any) from the growth
of the insurance industry in India. This article discusses
the major issues relating to the growth of micro insurance
market in India in the light of the various studies
on the potential market as well as the initiatives taken
by the IRDA regarding the development of micro insurance.
© 2008 IUP . All Rights Reserved
HEALTH
INSURANCE
Developing
Sustainable Health Insurance in India Learning from
International Experiences
-- R Krishnamurthy and Gayle Adams
The
article examines the key actuarial and business practices
in the buoyant health insurance sector.
© 2008 IRDA Journal. This article was first published
in the Jun/Jul 2008 issue of IRDA Journal. Reprinted
with permission.
HEALTH
INSURANCE
Rural
Health Insurance in China : An Insight
-- Ishita Mukherjee
Under
China's pre-reform planned economy, almost all citizens
of the country were covered by some form of health insurance.
This article throws light on the New Cooperative Medical
Scheme (NCMS) in China. The fact that insurers are increasingly
eyeing China's rural market has also been illuminated.
© 2008 IUP . All Rights Reserved
NON-LIFE
INSURANCE
Kidnap
and Ransom Insurance Cover
-- Namita Sahay
The
insurance industry is growing at an amazing rate all
over the world and insurers are competing with each
other through niche insurance covers. One such cover
is Kidnap and Ransom Insurance for which there has been
a great demand in recent times. This article throws
light on Kidnap and Ransom Insurance, the various causes
that provoke the need for this type of cover, modus
operandi, risk factors and pricing of policies. It also
discusses the current scenario and its limitations.
© 2008 IUP . All Rights Reserved
BUSINESS
ENVIRONMENT
Halal
Insurance : Insuring the Shariah Compliant Way
-- Subhalaxmi Mohapatra and Pabnesh Kumar
With
the launch of the Salaam Halal insurance, the first
Shariah-compliant insurance company in Britain, such
type of insurance is going to hit the Indian markets
soon. Such a product is expected to get an overwhelming
response from the investors in India who are looking
forward to investing in ethical funds. In this backdrop,
the article discusses Halal insurance in detail. It
also foresees the future prospects for the same in the
Indian context.
© 2008 IUP. All Rights Reserved.
BUSINESS
ENVIRONMENT
The
Ant and the Grasshopper : Preparing for the Return of
the Hard Market
-- David A Jones
Take
advantage of today's favorable market conditions before
it is too late.
© 2008 Risk and Insurance Management Society, Inc. All
Rights Reserved. This article was first published in
the August 2008 issue of Risk Management magazine. Reprinted
with permission.
INSURANCE
OPERATIONS
Insurance
Industry Valuation Insights : Recent Trends
-- Jeff Balcombe
The
general focus of this article is to analyze the direct
and indirect impacts of recent economic trends on the
valuation of companies operating in the insurance industry.
Key trends recently impacting insurance companies are
the subprime mortgage crisis, soft market conditions,
and significant catastrophe losses, each of which affects
the valuation of insurance entities. Notably, these
recent trends have negatively impacted the valuation
of companies operating in the insurance industry, as
discussed in greater detail below.
©
2008 International Risk Management Institute, Inc. (www.IRMI.com).
This article was first published in the August 2008
issue of IRMI.com. Reprinted with permission of the
publisher from the Expert Commentary Section of www.IRMI.com
INSURANCE
MARKETING
Importance
of CRM in Insurance
-- S Jayaprakash
Risk factors influence all spheres of any business.
Sometimes, it influences customers and sometimes it
gets induced by the customers. Though customer relationship
is becoming a mantra for the companies currently, this
article discusses Customer Risk Management (CRM) as
it has the potential of changing the image of not only
the insurer but its parent group and business partners.
© 2008 IUP . All Rights Reserved
SPOTLIGHT
Swiss
Re
-- Kamatla Sheeba
Swiss
Re is a leading and a highly diversified global reinsurer.
It was set up in Zurich, Switzerland in 1863. It has
been providing risk and capital management solutions
to clients all over the world for the past 144 years.
It has carefully built a reputation for strength, expertise,
innovation, and reliability that gives a competitive
edge in reinsurance and risk management over its competitors.
© 2008 IUP . All Rights Reserved
SPEECH
Better
Care at Lower Cost for Every American
John McCain
© 2008 American Academy of Actuaries. This speech was
first published in the Sept/Oct 2008 issue of the Contingencies
Magazine. Reprinted with permission. | 
