Documents found
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9951.
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9957.More information
One of the greatest dangers to the solvency of property-liability insurers is writinglarge amounts of new business in a high-risk line (i.e., a line of insurance in whicha substantial portion of buyers consists of high-risk insureds). This practice is problematicbecause of both potentially inadequate pricing and potentially lax underwriting.A prominent example of the latter phenomenon was the collapse of manycaptive insurers in the early to mid-1980s, in which the insurers relied too heavilyon independent underwriters motivated solely by increasing premium volume. Inthis article, we employ a Cournot market-game model to study the financial impactof informed independent underwriters (i.e., unaffiliated underwriters with privateinformation regarding the risk characteristics of insureds) on insurers in high-riskproperty-liability lines. In a market with a risk-neutral insurer and CARA insureds,we find that the insurer will always do worse by using a risk-neutral underwriterthan by operating on a direct-writing basis. However, for an insurer employingmean-variance optimization, the proper combination of underwriter-compensationand capital allocation may lead to better outcomes than direct writing.
Keywords: Independent underwriters, high-risk lines, Cournot market games, Gestionnaires d'assurance indépendants, branche d'assurance à hautrisque, modèle Cournot de marché
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9958.More information
In the United States, "Health Maintenance Organisations" (HMO) undertookto master the growth of the costs of the health. Numerous patients complainedabout the quality of the care under this regime and about limitations that HMOimposed on them, in particular in access to care. To the quality care issues underthis regime added the anxieties conceming patients' satisfaction. Has the formerdegraded under the regime HMO? On this subject, numerous studies compare thesatisfaction of the patients under the regime HMO to that of the patients in thetraditional System with "Fee-For-Service payment" (FFS). They also concern thevulnerable patients, such as the old or deprived persons, illustrating how difficultit is to measure of quality.
Keywords: Managed Care, HMO, patients, satisfaction, assurance, Managed Care, HMO, patients, satisfaction, insurance
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