Insurable Interest and Valuations PDF Download

Author: Richard Lowndes
Publisher:
ISBN:
Category : Insurance
Languages : en
Pages : 156

View

Book Description

Author: Irwin T. Vanderhoof
Publisher: Springer Science & Business Media
ISBN: 1475767323
Category : Business & Economics
Languages : en
Pages : 389

View

Book Description
This book explores theoretical and practical implications of reflecting the fair value of liabilities for insurance companies. In addition, the contributions discuss the disclosure of these values to the financial and regulatory communities and auditing firms which are actually calculating this illusive but important variable. It combines contributions by distinguished practitioners from the insurance, accounting and finance fields, with those of prominent academics. One of the central themes of the collection is that adequate disclosure of the true economic value of insurance company liabilities is both possible and desirable. Wherever possible, the insurance valuation process is wedded with modern financial theory. For example, the use of option pricing theory is applied to insurance companies, where the true value of the firm's liabilities is a critical variable. Methods such as cash flow, earned profit and indirect discount are explored.

Author: Franziska Arnold-Dwyer
Publisher: Routledge
ISBN: 0429664125
Category : Business & Economics
Languages : en
Pages : 289

View

Book Description
This book assesses the role of the doctrine of insurable interest within modern insurance law by examining its rationales and suggesting how shortcomings could be fixed. Over the centuries, English law on insurable interest – a combination of statutes and case law – has become complex and unclear. Other jurisdictions have relaxed, or even abolished, the requirement for an insurable interest. Yet, the UK insurance industry has overwhelmingly supported the retention of the doctrine of insurable interest. This book explores whether the traditional justifications for the doctrine – the policy against wagering, the prevention of moral hazard and the doctrine’s relationship with the indemnity principle – still stand up to scrutiny and argues that, far from being obsolete, they have acquired new significance in the global financial markets and following the liberalisation of gambling. It is also argued that the doctrine of insurable interest is an integral part of a system of insurance contract law rules and market practice. Rather than rejecting the doctrine, the book recommends a recalibration of insurable interest to afford better pre-contractual transparency to a proposer as to the suitability of the policy to his or her interest in the subject-matter to be insured. Providing a powerful defence for the retention of insurable interest, this book will appeal to both academics and practitioners working in the field of insurance law.

Author: Ryan C. Fuhrmann
Publisher: CFA Institute
ISBN: 1942713428
Category : Business & Economics
Languages : en
Pages : 60

View

Book Description

Author: Mario V. Wüthrich
Publisher: Springer Science & Business Media
ISBN: 3642313922
Category : Mathematics
Languages : en
Pages : 438

View

Book Description
Risk management for financial institutions is one of the key topics the financial industry has to deal with. The present volume is a mathematically rigorous text on solvency modeling. Currently, there are many new developments in this area in the financial and insurance industry (Basel III and Solvency II), but none of these developments provides a fully consistent and comprehensive framework for the analysis of solvency questions. Merz and Wüthrich combine ideas from financial mathematics (no-arbitrage theory, equivalent martingale measure), actuarial sciences (insurance claims modeling, cash flow valuation) and economic theory (risk aversion, probability distortion) to provide a fully consistent framework. Within this framework they then study solvency questions in incomplete markets, analyze hedging risks, and study asset-and-liability management questions, as well as issues like the limited liability options, dividend to shareholder questions, the role of re-insurance, etc. This work embeds the solvency discussion (and long-term liabilities) into a scientific framework and is intended for researchers as well as practitioners in the financial and actuarial industry, especially those in charge of internal risk management systems. Readers should have a good background in probability theory and statistics, and should be familiar with popular distributions, stochastic processes, martingales, etc.

Author:
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 620

View

Book Description

Author: Casualty Actuarial Society
Publisher:
ISBN:
Category : Casualty insurance
Languages : en
Pages : 712

View

Book Description
List of members for the years 1914-20 are included in v. 1-7, after which they are continued in the Year book of the society, begun in 1922.

Author: Melumad Nahum
Publisher: Now Publishers Inc
ISBN: 1601982127
Category : Business & Economics
Languages : en
Pages : 159

View

Book Description
Line-Item Analysis of Earnings Quality provides a comprehensive summary and analysis of the specific earnings quality issues pertaining to key line item components of the financial statements. After providing an overview of earnings quality and earnings management, Line-Item Analysis of Earnings Quality analyzes key line items from the financial statements. For each key line item, the authors: review accounting principles; discuss implications for earnings quality; evaluate the susceptibility of the item to manipulation; describe analyses and red flags which may inform on the item's quality. Line-Item Analysis of Earnings Quality will prove useful in conducting fundamental and contextual analyses through its analysis and evaluations.

Author: Mario V. Wüthrich
Publisher: Springer Science & Business Media
ISBN: 3642148522
Category : Mathematics
Languages : en
Pages : 164

View

Book Description
It is a challenging task to read the balance sheet of an insurance company. This derives from the fact that different positions are often measured by different yardsticks. Assets, for example, are mostly valued at market prices whereas liabilities are often measured by established actuarial methods. However, there is a general agreement that the balance sheet of an insurance company should be measured in a consistent way. Market-Consistent Actuarial Valuation presents powerful methods to measure liabilities and assets in a consistent way. The mathematical framework that leads to market-consistent values for insurance liabilities is explained in detail by the authors. Topics covered are stochastic discounting with deflators, valuation portfolio in life and non-life insurance, probability distortions, asset and liability management, financial risks, insurance technical risks, and solvency.

Author: Freda Matassa
Publisher: Facet Publishing
ISBN: 1783301872
Category : Art
Languages : en
Pages : 240

View

Book Description
This book addresses the issue of valuing objects in cultural collections, ranging from high-value to low or no-value and featuring a range of collections including fine art, archives, science and photography. Practical advice is given on how to assign values and best practice examples are drawn from museums, libraries and archives. The subject of valuation has always been challenging for museums and public collections and is becoming more urgent as monetary values of many items continue to break records. There is an increase in lending, with more loans requiring a value for insurance. Cultural collections and exhibitions are expanding to all corners of the world, while, at the same time, lenders are becoming more risk-averse. Valuing Your Collection will address the issues and offer some solutions. Content covered includes: questions of valuing public and private cultural collectionsassigning values to individual objects or an entire collectionlegal and ethical considerationsdiscussion of authentication and attributionthe insurance business and valuationguides to valuing different types of collectionsa range of case studies showing valuation across multiple sectorssample templates with criteria for valuing different objects. This book will be useful for curators of cultural collections, professionals in museums, libraries and archives, cultural heritage students, private collectors, those involved with art insurance, art business and anyone requiring practical guidance on valuation.