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The Hindu Business Line  9 hrs ago  Comment 
Although very close in meaning, the two are vastly different in an insurance policy. The sum assured to a policyholder is the benefit that is pre-defined and to be paid to the policyholder in the even...
MedPage Today  11 hrs ago  Comment 
(MedPage Today) -- Healthcare access and delivery seen as last frontier for savings
MedPage Today  Aug 13  Comment 
(MedPage Today) -- This week's topics include the impact of exercise on chronic medical conditions, more ICU care and outcomes, m-health and diabetes, and insurance status and cancer outcomes
New York Times  Aug 13  Comment 
Insurance companies are facing the problem of selling products in an era of near-zero interest rates, and they’re squeezing many policyholders.
New York Times  Aug 12  Comment 
Millions of people looking for insurance in the federal marketplaces are more concerned with cost than with finding a favorite doctor or trusted company.
Insurance Journal  Aug 12  Comment 
U.S. Risk L.L.C. has acquired Continental Risk Insurance Services. Continental Risk is a Lodi, Calif.-based wholesale insurance broker. Continental places marine insurance for both commercial and personal marine-related risks, such as marinas,...
Insurance Journal  Aug 12  Comment 
Independent Insurance Agents & Brokers of New York Inc., an insurance producer trade organization based in Syracuse, N.Y., has promoted Julie MacConnell from director of marketing and communications to assistant vice president of marketing and...
Insurance Journal  Aug 12  Comment 
A recently released report by Austin, Texas-based car insurance comparison firm, The Zebra, shows that car insurance rate hikes in the Austin area over the past five years have far exceeded the national average. Austin car insurance rates have...
The Hindu Business Line  Aug 12  Comment 
Bihar, which notified the Prime Minister’s crop insurance scheme just two days back on Wednesday, will now get sixteen days beyond the stipulated cut-off date of August 15 to enrol farmers.The decisi...




 
TOP CONTRIBUTORS

The basics of insurance are simple: one company offers a guarantee future payment for a contracted event. The company offering the guarantee charges a premium for insuring against the event's occurence - in doing so, the insurance company is protecting the client against certain circumstances, say physical capital loss due to a natural disaster. The insurance company assumes all financial responsibility associated with the client’s losses.

Where the business gets complicated is in the calculations of premiums. This involves the use of complex stochastic probabilty models meant to simulate the likelihood of a given event’s occurrence. Not all events are created equal, from an insurance perspective - for some types of insurance a company can accurately predict the probability of occurence (say, automobile insurance, which has such a large sample to study that companies can make accurate predictions and judgments about demographic groups). For events that are harder to predict (say, the future value a Mortgage-Backed Security (MBS)) insurance companies take on greater risk when they issue policies.

The insurance sector itself is segmented into four distinct sub-sectors: Life Insurance, Property & Casualty Insurance, Accident & Health Insurance, and Miscellaneous Insurance.

Insurance Industry Sub-Sectors

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Property & Casualty Insurance

Casualty insurance deals with policies that are written to hedge against the risk of unforeseen accidents. Some examples are insurance policies for auto accidents or losses incurred at sea (Marine Insurance). In general, casualty insurance hedges against risks associated with liability and crime.

Companies within the Casualty and Property Insurance Sub-Sector

Accident & Health Insurance

Health insurance deals with policies that are written to hedge against the risk of unexpected or unexpectedly high health costs. Interestingly, the insurer of health insurance policy can either be from the private sector or the public sector, subsidized by taxes.

Companies within the Accident and Health Insurance Sub-Sector

Financial Guarantors/Assurance

Assurance/guarantor companies provide insurance against default on credit instruments. They collect premiums to insure bonds against defaults and/or losses in value through insurance policies generally called "insurance enhancement products". Some examples are:

Miscellaneous Insurance

Companies within the Misellaneous Insurance Sub-Sector:

Whats Moving the Insurance Sector

Retiring Baby Boomer Generation/Convergence of Insurance Sector and Financial Industry

As the first of the baby boomers are set to retire within the next few years, financial and insurance firms remain pitted in a battle to provide them with financial funds to fuel their retirement. The traditional methods of retirement finance such as social security, 401ks, and corporate pension plans are becoming increasingly riskier as government legislature struggles to find a solution to social security deficits and companies find it harder and harder to meet the promises of current pension plans. Since the lines between financial institutions and insurance institutions has been blurred with the repeal of the 1999 repeal of the Glass-Steagall Act, which restricted the ability of insurance companies to provide financial services, aging baby boomers have become an increasingly attractive market to insurance companies.

To compete with the corporate pensions plans provided by the company, insurance companies are offering annuities to retirees. Annuities come in many, often complex, forms and packages. However, the underlying concept remains the same: purchase of the annuity is made with an upfront lump sum, with the promise of a steady periodic income as long as the contract requires.

Since they're wrikong on a solution already, my guess is that they will not want to bother using SPAAR's data in the interim since it would be for so limited a time.I'm always chomping at the bit for the latest and greatest info so I'll post it as soon as it's available! Reply</a>

Companies in the Insurance Industry (90)

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