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COVER STORY
Microinsurance in Rural India : The Regulatory Challenges
-- G V Rao
The Government of India has made it mandatory for insurers to serve the minimum insurance needs of persons in rural areas through legislative quota enforcement. But the legal and regulatory frameworks created yet inhibit the full blooming of microinsurance sales in the rural sector. These hurdles are discussed for redressal in this article.
© 2008 IUP . All Rights Reserved
COVER STORY
Microinsurance : Some Key Issues in Protecting the Poor from Adverse Income Shocks
-- Jyotirmayee Kar
Generally, the low-income groups adopt two types of strategies to reduce the impact of adverse income shocks: Risk management strategies and risk coping strategies. But these are not very efficient in protecting them. Insuring against the adverse situations is another option before the poor. Yet, due to unawareness of the benefits and mismatch between premium and income schedule such beneficial schemes are not availed by the poor.
© 2008 IUP . All Rights Reserved
HEALTH INSURANCE
Lemons Problem and Health Insurance Fraud : How Information Asymmetry Can Lead to Health Insurance Fraud
-- Samuel B Sekar
In insurance contracts imperfect information results in adverse selection (lemons) and moral hazard. When it is done intentionally, with unwarranted profit in mind, where one of the parties will be a victim to the cheating of the other, it is a fraud.
© 2008 IUP . All Rights Reserved
HEALTH INSURANCE
Designing New Health Insurance Products : Technical Considerations
-- Richard Kipp and Thomas Snook
The authors suggest that in order to be more successful in the area of health insurance, Indian insurers have to classify the risks in accordance with the individual's profile and price them accordingly.
© 2008 IRDA Journal. This article was first published in the January 2008 issue of IRDA Journal. Reprinted with permission.
RISK AND INSURANCE
Financial Modeling : A New Generation of Tools
-- Brian Heale, Francois Morin and Ian B Farr
With growing pressures for better risk management and financial information, it's time for a fully-integrated approach to financial modeling that leverages advances in enterprise technologies.
© 2007 Towers Perrin. This article is reprinted in its entirety from the April 2007 issue of Emphasis Magazine, Towers Perrrin. Reprinted with permission.
RISK AND INSURANCE
International Terrorism Claims : A Practical Perspective
-- Rachel Giesber Clingman
More and more companies are being forced to deal with claims from workers injured by terrorist acts and militant violence abroad.
© 2008 Risk and Insurance Management Society, Inc. All Rights Reserved. Reprinted with permission from Risk Management Magazine.
BUSINESS STRATEGY
Boosting Financial Performance Through Stakeholder Management
-- Kai-Uwe Schanz
The author looks at the critical challenge of cultivating stakeholder relations and how it can significantly impact the financial performance of an insurance company.
© 2008 Asia Insurance Review (www.asiainsurancereview.com). Reprinted with permission.
NON-LIFE INSURANCE
Trigger Theories in Homeowners Insurance
-- R Brent Cooper and Dana Harbin
There are specific events that must occur to `trigger' insurance coverage under any given type of insurance policy. The word `trigger' is used in the insurance context as a term of art meaning the event that activates coverage under one or more insurance policies.
© 2008 International Risk Management Institute, Inc. (www.irmi.com). Reprinted with permission by the publisher from the Expert Commentary Section of www.irmi.com
SPOTLIGHT
IFFCO-Tokio General Insurance Company Limited
-- Kamatla Sheeba
The IFFCO-Tokio General Insurance Co. Ltd. (ITGI) is a joint venture between the Indian Farmers Fertilizer Cooperative Limited (IFFCO), India and the Tokio Marine and Fire Insurance Co. Ltd., Japan. The company was incorporated on December 4, 2000 and within a short span it has become a leading insurance company in India. The promoters of IFFCO-Tokio are IFFCO, Tokio-Marine Group (Millea Asia), Krishak Bharati Coop Ltd. (KRIBHCO) and Indian Potash Ltd.
© 2008 IUP . All Rights Reserved
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