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Insurance Economics is a research programme set up by the Geneva Association, also known as the International Association for the Study of Insurance Economics.. It is dedicated to making an original contribution to the progress of insurance through promoting studies of the interdependence between economics and insurance, to highlight the importance of risk and insurance economics as part of ...
Using company-level economic models clearly reflects a top-down approach to determining the risk discount rate. Market-consistent EEV makes use of a bottom-up approach for determining the risk discount rate, which produces a number which equals the risk free rate plus an explicit allowance for operational risk and market risk.
Download as PDF; Printable version; ... is a widely cited seminal paper in the field of economics which explores the concept of asymmetric ... Insurance companies ...
In economics, insurance, and risk management, adverse selection is a market situation where asymmetric information results in a party taking advantage of undisclosed information to benefit more from a contract or trade.
Financial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade". [1] Its concern is thus the interrelation of financial variables, such as share prices, interest rates and exchange rates, as opposed to those concerning ...
3. Full insurance efficiency. This ensures the continuous delivery of goods and services in all contingencies. 4. Functional/Operational efficiency. The products and services available at the financial markets are provided for the least cost and are directly useful to the participants.
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The balance of power can, however, also be in the hands of the buyer. When buying health insurance, the buyer is not always required to provide full details of future health risks. By not providing this information to the insurance company, the buyer will pay the same premium as someone much less likely to require a payout in the future. [5]