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guardian.co.uk  9 hrs ago  Comment 
Shadow chancellor Ed Balls and Harvard professor Larry Summers have produced a report that explodes some central myths about capitalism Quindell is an insurance claims processor; an unexceptional business. But it is the latest addition to the long...
Motley Fool  Jan 24  Comment 
Mortgage insurance premiums are set to fall. Here's why homebuyers may save thousands of dollars per year.
The Hindu Business Line  Jan 24  Comment 
The next phase of Pradhan Mantri Jan Dhan Yojana will focus on credit, insurance and pension services, the Prime Minister Narendra Modi has said. This scheme is a financial inclusion pro...
The Times of India  Jan 24  Comment 
Citibank — one of the largest distributors of financial products among the rich — has ruled out getting into insurance broking.
Insurance Journal  Jan 23  Comment 
George N. Gibbs Jr. was a man who was famous in insurance circles for his ability to tell a good story, and those who knew him say he was passionate about protecting the interests of his clients. Gibbs died on … The article Former California...
Insurance Journal  Jan 23  Comment 
St. John’s University’s School of Risk Management (SRM) in New York hosted its 20th Annual Insurance Leader of the Year Award Dinner on Jan. 21 in honor of Mike McGavick, chief executive officer of XL Group plc. The event, held … The...
The Hindu Business Line  Jan 23  Comment 
With the bulls continuing to rule Dalal Street and stock market indices hitting record highs every other day, unit-linked insurance plans (ULIPs) are making a comeback in a big way. Comp...
Insurance Journal  Jan 23  Comment 
Florida-based Universal Insurance Holdings Inc. reported that the Indiana Department of Insurance has approved the homeowners insurance forms of its wholly-owned subsidiary, Universal Property & Casualty Insurance Co. (UPCIC), and that UPCIC has...
Insurance Journal  Jan 23  Comment 
Oklahoma Attorney General Scott Pruitt has filed workers’ compensation fraud charges in two separate cases. Pruitt’s office announced the charges against 30-year-old Nicholas Hurt and 48-year-old James Cramer. It was unclear if either man had...




 
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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