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SPOTLIGHT
Universal Sompo General Insurance Company Limited
-- Kamatla Sheeba © 2009 IUP. All Rights Reserved.
COVER STORY
Project Insurance: Issues Involved in Safeguarding the Interests of Multi-parties
-- GV Rao
Arranging project insurance has several imponderables, which only an insurance expert can explain.
There are several parties involved of which the dominant one is the financier. All others who are tasked to
complete the project have individual insurance needs of their own. How should such diversity of interests be
managed? Read on for an appreciation of it. © 2009 IUP. All Rights Reserved.
BUSINESS STRATEGY
Corporate Social Responsibility and the Insurance Sector
-- R Venugopal
It is not enough if a company makes a profit, it should also play a critical role in the life of the
community. There cannot be an island of plenty surrounded by an ocean of poverty. Hence, the Board of Directors of
the company have to observe the needs of their immediate community and take steps in ameliorating them in
a suitable manner, thereby earning the epithet of a `Good Corporate Citizen'. © 2009 IUP. All Rights Reserved.
HEALTH INSURANCE
Healthcare Reform Learning from Israel's Experience
-- John Bertko and Yair Babad
As the US moves toward reform of its healthcare and health insurance system, there are many lessons to
be learned from the experiences of other nations. In the first of an occasional series, health actuaries John
Bertko and Yair Babad discuss changes in the Israeli healthcare system that were put in place in the 1990s.
© 2008 American Academy of Actuaries. This article was first published as "Israel: How Can the US Benefit from Israel's Recent
Experiences Shifting to a Universal Healthcare System?" in the May/June 2009 issue of the Contingencies Magazine. Reprinted with permission.
BUSINESS ENVIRONMENT
Insurance Coverage During the Economic Crisis
-- Bianca R Chapman and Marc Rosenthal
In order to protect their organizations from litigation related to the financial crisis, risk managers need
to examine their policies for key areas of exposure.
© 2009 Risk and Insurance Management Society, Inc. All Rights Reserved. This article was first published in the May 2009 issue of Risk Management Magazine. Reprinted with permission.
BUSINESS ENVIRONMENT
Valuation Insights TARP and Insurers
-- Jeff Balcombe
The recent economic recession has resulted in substantial uncertainty regarding the future performance
of many companies. Specifically, Life and Health (L&H) insurers that collect premiums from policyholders
and then invest those premiums have been affected and face a potentially devastating cash crunch,
should policyholders decide to redeem their policies. Such an event would force the liquidation of
substantial investments.
© 2009 International Risk Management Institute, Inc. (www.IRMI.com). This article was first published in the May 2009 issue of
IRMI.com. Reprinted with permission of the publisher from the Expert Commentary Section of www.IRMI.com
REINSURANCE
Reinsurance Optimization in the New Regulatory Environment
-- Jonathan Tilman and Martin Davies
Solvency II will fundamentally change reinsurance purchasing and products as reinsurance becomes
integral to the risk and capital management strategy of insurers.
© 2009 Towers Perrin. This article was first published in the 2008/2 issue of Towers Perrin's Emphasis magazine. Reprinted with permission
in its entirety.
REGULATION
Convergence Towards IFRS Issues for the Indian Insurance Sector
-- Lingisetti Venu
Globalization of business along with capital market advancements demand more transparency from
the corporates in their financial statements. The need for convergence in Accounting Standards resulted in
IFRS. This article illustrates various issues involved for smooth convergence towards IFRS in the insurance
sector and the industry's preparedness to handle the change. © 2009 IUP. All Rights Reserved.
INSURANCE MARKETING
Championing and Institutionalizing Insurer's TcF Charter
-- Srinivasan Varadharajan and Shrinivas Susarla
Treating Customers Fairly, as a corporate strategy should be formulated by the top management; and
should percolate to the lowest levels of workforce. The article suggests a road map
for implementaion of TCF.
© 2008 IRDA Journal. This article was first published in the April 2009 issue of IRDA Journal. Reprinted with permission.
CASE STUDY
Investor's Choice: LIC vs. Private Life Insurance Companies
-- Dr. L J Chaarlas, Albin D Robert Lawrence and P Bagatheeswari
The study tries to find out the most important factor influencing an individual in selecting LIC
or the private insurance companies as an investment vehicle. A well-structured questionnaire was
used for collection of data from the 100 respondents of Trichy region. Simple statistical tools
were employed for analysis of data. Most of the respondent's, i.e., 74% of them have taken LIC
policies for the purpose of safety and security. The respondents feel that private sector insurance companies
give high returns with high risk. © 2009 IUP. All Rights Reserved.
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