SPOTLIGHT
Export Credit Guarantee Corporation -- Kamatla Sheeba
Export Credit Guarantee Corporation (ECGC) is a company wholly-owned by the Government of India (GoI). It functions under the administrative control of the Ministry of Commerce & Industry, Department of Commerce, and GoI. It is managed by a Board of Directors comprising representatives of the government, Reserve Bank of India (RBI), banking, insurance and exporting community.
© 2007 IUP . All Rights Reserved
COVER STORY
Micro Insurance in India : The Life-Saving Buoy for the Small Man
-- Mallikarjun Krishnamurthi
India has been according the highest priority to the uplift of the poor and has, therefore, been introducing various schemes of financing the low-income groups for self-employment through financial institutions. The Micro Finance Institutions (MFIs), perforce, began to associate themselves with insuring bodies, both public and private, and preferred to function in full coordination with them. While identification of the people to be insured is done by MFIs, the actual risk coverage is provided by the insurance companies.
© 2007 IUP . All Rights Reserved
COVER STORY
Micro Health Insurance : A Way of Ensuring Financial Security to the Poor
-- N Jeyaseelan
The provision of micro credit has enabled the poor households to increase their income and build their assets. Only 3.19% of the total premium is accounted for by the health insurance premium. Out of the many non-life products launched during the year 2005-06, only one product was under MHI, that too by a stand-alone health insurance company. Many proactive measures like creating a database, capacity building of stakeholders and customized product/process designing have been suggested to take forward the sector to benefit a large number of poor households.
© 2007 IUP . All Rights Reserved
BUSINESS ENVIRONMENT
Detariffication in Non-life Insurance: Growth Patterns in 1st Quarter of 2007-08 -- GV Rao
Non-life insurers and their stakeholders seem to believe that the economic laws of supply and demand will eventually perk up the premium rates in the currently rate-depressed non-life insurance market in a couple of years. Insistence on drawing up proper rating schedules based on past experience and on historical data has been the preferred route of the regulator. The players seem obsessed with obtaining market share at any cost. How can this paradox be resolved?
© 2007 IUP . All Rights Reserved
BUSINESS ENVIRONMENT
Global Growth : Room to Grow -- Jennifer C Rankin
Multinational insurers are flocking to China, India and the Middle East, domestic insurers are digging in, and everyone is branching out. Here's a look at who's doing what—and why.
© 2007 LOMA (Life Office Management Association, Inc.) This article was first published in October 2007 issue of LOMA's Resource Magazine. Reprinted with permission.
UNDERWRITING MANAGEMENT
Actuarial Equity or Unfair Discrimination?
-- Robert L Brown, Darren Charters, Sally Gunz and Neil Haddow
When does prudent underwriting become age discrimination? Can age ever be a legitimate yardstick for the sale of automobile insurance?
© 2007 American Academy of Actuaries. Reprinted with permission.
NON-LIFE INSURANCE
Travel Insurance : A Healthy Companion Abroad
-- B Balaji Sathya Narayanan
Risks follow a person as a shadow when he/she travels overseas either for leisure or for business reasons—these risks are possible illness, accidents and loss of belongings like luggage, passport, etc. Such contingencies are unpredictable and unavoidable as they may happen to anyone anytime. Such perils could definitely affect one's tour schedule and of course the financial position. The solution for worriless traveling is `Overseas Travel Insurance' (OTI). OTI offers protection to the travelers against a wide range of perils with a single policy.
© 2007 IUP . All Rights Reserved
NON-LIFE INSURANCE
Insuring against Environmental Risk -- Jyotirmayee Kar
Natural calamities affect the development system as a whole. The poor are hard hit by these and the effect is long-lasting. Extension of insurance coverage to this vulnerable group is necessary but difficult, as it is unable to pay the insurance premium. Assessment of catastrophe risk and meeting the huge obligation pose an uphill task for the insurers. The present exercise is an attempt to analyze the scope of securitization, reinsurance, index-based insurance and provision of subsidized premium in covering catastrophic risk.
© 2007 IUP . All Rights Reserved
NON-LIFE INSURANCE
A Closer Look at Tricky Coverage Issues -- Robert Redfearn, Jr.
Potential liability risks vary as greatly as the type of event. Organizers of special events should go for the widest possible coverage to protect themselves.
© 2007 www.insurancejournal.com. This article was first published in the October 2007 issue of Insurance Journal. Reprinted with permission.
RISK AND INSURANCE
Agencies Jockey Over Evaluation Models -- Patricia Vowinkel
Rating shops favor either newer capital adequacy models or `traditionalist' approaches to insurance companies' ERM programs.
© 2007 Risk and Insurance Management Society, Inc. This article was first published in the September 2007 issue of Risk & Insurance. Reprinted with permission.
|
