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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="crop insurance premium"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 1548</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: crop insurance premium</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1548</span> An Approach to Practical Determination of Fair Premium Rates in Crop Hail Insurance Using Short-Term Insurance Data</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Necati%20I%C3%A7er">Necati I莽er</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Crop-hail insurance plays a vital role in managing risks and reducing the financial consequences of hail damage on crop production. Predicting insurance premium rates with short-term data is a major difficulty in numerous nations because of the unique characteristics of hailstorms. This study aims to suggest a feasible approach for establishing equitable premium rates in crop-hail insurance for nations with short-term insurance data. The primary goal of the rate-making process is to determine premium rates for high and zero loss costs of villages and enhance their credibility. To do this, a technique was created using the author's practical knowledge of crop-hail insurance. With this approach, the rate-making method was developed using a range of temporal and spatial factor combinations with both hypothetical and real data, including extreme cases. This article aims to show how to incorporate the temporal and spatial elements into determining fair premium rates using short-term insurance data. The article ends with a suggestion on the ultimate premium rates for insurance contracts. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=crop-hail%20insurance" title="crop-hail insurance">crop-hail insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=premium%20rate" title=" premium rate"> premium rate</a>, <a href="https://publications.waset.org/abstracts/search?q=short-term%20insurance%20data" title=" short-term insurance data"> short-term insurance data</a>, <a href="https://publications.waset.org/abstracts/search?q=spatial%20and%20temporal%20parameters" title=" spatial and temporal parameters"> spatial and temporal parameters</a> </p> <a href="https://publications.waset.org/abstracts/181441/an-approach-to-practical-determination-of-fair-premium-rates-in-crop-hail-insurance-using-short-term-insurance-data" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/181441.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">55</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1547</span> Vine Copula Structure among Yield, Price and Weather Variables for Rating Crop Insurance Premium</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jiemiao%20Chen">Jiemiao Chen</a>, <a href="https://publications.waset.org/abstracts/search?q=Shuoxun%20Xu"> Shuoxun Xu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The main goal of our research is to apply the Vine copula measuring dependency between price, temperature, and precipitation indices to calculate a fair crop insurance premium. This research is focused on Worth, Iowa, United States, over the period from 2000 to 2020, where the farmers are dependent on precipitation and average temperature during the growth period of corn. Our proposed insurance considers both the natural risk and the price risk in agricultural production. We first estimate the distributions of crops using parametric methods based on Goodness of Fit tests, and then Vine Copula is applied to model dependence between yield price, crop yield, and weather indices. Once the vine structure and its parameters are determined based on AIC/BIC criteria and forecasting price and yield are obtained from the ARIMA model, we calculate this crop insurance premium using the simulation data generated from the vine copula by the Monte Carlo Simulation method. It is shown that, compared with traditional crop insurance, our proposed insurance is more fair and thus less costly for the farmers and government. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=vine%20copula" title="vine copula">vine copula</a>, <a href="https://publications.waset.org/abstracts/search?q=weather%20index" title=" weather index"> weather index</a>, <a href="https://publications.waset.org/abstracts/search?q=crop%20insurance%20premium" title=" crop insurance premium"> crop insurance premium</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20risk%20management" title=" insurance risk management"> insurance risk management</a>, <a href="https://publications.waset.org/abstracts/search?q=Monte%20Carlo%20simulation" title=" Monte Carlo simulation"> Monte Carlo simulation</a> </p> <a href="https://publications.waset.org/abstracts/141303/vine-copula-structure-among-yield-price-and-weather-variables-for-rating-crop-insurance-premium" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/141303.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">201</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1546</span> Analysis of Risk Factors Affecting the Motor Insurance Pricing with Generalized Linear Models</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Puttharapong%20Sakulwaropas">Puttharapong Sakulwaropas</a>, <a href="https://publications.waset.org/abstracts/search?q=Uraiwan%20%20Jaroengeratikun"> Uraiwan Jaroengeratikun</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Casualty insurance business, the optimal premium pricing and adequate cost for an insurance company are important in risk management. Normally, the insurance pure premium can be determined by multiplying the claim frequency with the claim cost. The aim of this research was to study in the application of generalized linear models to select the risk factor for model of claim frequency and claim cost for estimating a pure premium. In this study, the data set was the claim of comprehensive motor insurance, which was provided by one of the insurance company in Thailand. The results of this study found that the risk factors significantly related to pure premium at the 0.05 level consisted of no claim bonus (NCB) and used of the car (Car code). <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=generalized%20linear%20models" title="generalized linear models">generalized linear models</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20factor" title=" risk factor"> risk factor</a>, <a href="https://publications.waset.org/abstracts/search?q=pure%20premium" title=" pure premium"> pure premium</a>, <a href="https://publications.waset.org/abstracts/search?q=regression%20model" title=" regression model"> regression model</a> </p> <a href="https://publications.waset.org/abstracts/65636/analysis-of-risk-factors-affecting-the-motor-insurance-pricing-with-generalized-linear-models" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/65636.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">466</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1545</span> The Effect of Catastrophic Losses on Insurance Cycle: Case of Croatia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Drago%20Jakov%C4%8Devi%C4%87">Drago Jakov膷evi膰</a>, <a href="https://publications.waset.org/abstracts/search?q=Maja%20Mihelja%20%C5%BDaja"> Maja Mihelja 沤aja</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper provides an analysis of the insurance cycle in the Republic of Croatia and whether they are affected by catastrophic losses on a global level. In general, it is considered that insurance cycles are particularly pronounced in periods of financial crisis, but are also affected by the growing number of catastrophic losses. They cause the change of insurance cycle and premium growth and intensification and narrowing of the coverage conditions, so these variables move in the same direction and these phenomena point to a new cycle. The main goal of this paper is to determine the existence of insurance cycle in the Republic of Croatia and investigate whether catastrophic losses have an influence on insurance cycles. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=catastrophic%20loss" title="catastrophic loss">catastrophic loss</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20cycle" title=" insurance cycle"> insurance cycle</a>, <a href="https://publications.waset.org/abstracts/search?q=premium" title=" premium"> premium</a>, <a href="https://publications.waset.org/abstracts/search?q=Republic%20of%20Croatia" title=" Republic of Croatia"> Republic of Croatia</a> </p> <a href="https://publications.waset.org/abstracts/7784/the-effect-of-catastrophic-losses-on-insurance-cycle-case-of-croatia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/7784.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">353</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1544</span> Solution of Insurance Pricing Model Giving Optimum Premium Level for Both Insured and Insurer by Game Theory</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Betul%20Zehra%20Karagul">Betul Zehra Karagul</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A game consists of strategies that each actor has in his/her own choice strategies, and a game regulates the certain rules in the strategies that the actors choose, express how they evaluate their knowledge and the utility of output results. Game theory examines the human behaviors (preferences) of strategic situations in which each actor of a game regards the action that others will make in spite of his own moves. There is a balance between each player playing a game with the final number of players and the player with a certain probability of choosing the players, and this is called Nash equilibrium. The insurance is a two-person game where the insurer and insured are the actors. Both sides have the right to act in favor of utility functions. The insured has to pay a premium to buy the insurance cover. The insured will want to pay a low premium while the insurer is willing to get a high premium. In this study, the state of equilibrium for insurance pricing was examined in terms of the insurer and insured with game theory. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=game%20theory" title="game theory">game theory</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20pricing" title=" insurance pricing"> insurance pricing</a>, <a href="https://publications.waset.org/abstracts/search?q=Nash%20equilibrium" title=" Nash equilibrium"> Nash equilibrium</a>, <a href="https://publications.waset.org/abstracts/search?q=utility%20function" title=" utility function"> utility function</a> </p> <a href="https://publications.waset.org/abstracts/83295/solution-of-insurance-pricing-model-giving-optimum-premium-level-for-both-insured-and-insurer-by-game-theory" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/83295.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">362</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1543</span> Assessing the Effects of Climate Change on Wheat Production, Ensuring Food Security and Loss Compensation under Crop Insurance Program in Punjab-Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mirza%20Waseem%20Abbas">Mirza Waseem Abbas</a>, <a href="https://publications.waset.org/abstracts/search?q=Abdul%20Qayyum"> Abdul Qayyum</a>, <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Islam"> Muhammad Islam</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Climate change has emerged as a significant threat to global food security, affecting crop production systems worldwide. This research paper aims to examine the specific impacts of climate change on wheat production in Pakistan, Punjab in particular, a country highly dependent on wheat as a staple food crop. Through a comprehensive review of scientific literature, field observations, and data analysis, this study assesses the key climatic factors influencing wheat cultivation and the subsequent implications for food security in the region. A comparison of two subsequent Wheat seasons in Punjab was examined through climatic conditions, area, yield, and production data. From the analysis, it is observed that despite a decrease in the area under cultivation in the Punjab during the Wheat 2023 season, the production and average yield increased due to favorable weather conditions. These uncertain climatic conditions have a direct impact on crop yields. Last year due to heat waves, Wheat crop in Punjab suffered a significant loss. Through crop insurance, Wheat growers were provided with yield loss protection keeping in view the devastating heat wave and floods last year. Under crop insurance by the Government of the Punjab, 534,587 Wheat growers were insured with a $1.6 million premium subsidy. However, due to better climatic conditions, no loss in the yield was recorded in the insured areas. Crop Insurance is one of the suitable options for policymakers to protect farmers against climatic losses in the future as well. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=climate%20change" title="climate change">climate change</a>, <a href="https://publications.waset.org/abstracts/search?q=crop%20insurance" title=" crop insurance"> crop insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=heatwave" title=" heatwave"> heatwave</a>, <a href="https://publications.waset.org/abstracts/search?q=wheat%20yield%20punjab" title=" wheat yield punjab"> wheat yield punjab</a> </p> <a href="https://publications.waset.org/abstracts/174146/assessing-the-effects-of-climate-change-on-wheat-production-ensuring-food-security-and-loss-compensation-under-crop-insurance-program-in-punjab-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/174146.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">83</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1542</span> An Assessment of the Extent and Impact of Motor Insurance Fraud Claims in Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Olatokunbo%20Shoyemi">Olatokunbo Shoyemi</a>, <a href="https://publications.waset.org/abstracts/search?q=Mario%20Brito"> Mario Brito</a>, <a href="https://publications.waset.org/abstracts/search?q=Ian%20Dawson"> Ian Dawson</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In recent times, the Nigerian motor insurers have experienced high volume of motor insurance claim pay-outs and insignificant contribution to the net premium income of the Nigerian insurance market, which has been a major concern for the shareholders/stakeholders. It has been argued that there are many factors that have brought about these concerns. However, anecdotal evidence (ongoing debates among industry practitioners) suggests prevalence of fraud due to poor practices in motor insurance business in Nigeria. This study is therefore aimed to carry out an assessment of fraud in motor insurance claims as perceived by experts in the Nigerian insurance market. This study adopted a descriptive research design, and the analysis was built on a survey among insurance experts in Nigeria using a designed questionnaire. A purposive and snowball sampling were used to select our sample (N = 120) - representing a selection of all professionally qualified insurance experts in Nigeria insurance industry. The study found that Nigerian insurance experts (i) largely agree that there is a problematic level of fraud in the Nigerian motor insurance industry; (ii) perceive soft fraud to be about 3 times more common than hard fraud in the Nigerian motor insurance industry, and (iii) strongly agree there are problematic impacts from fraud on the solvency of the Nigerian motor insurers. This paper has provided an empirical understanding of the existence, extent, and impact of fraud risks within the Nigerian insurance market based on expert knowledge and insights rather than, as has often been the case, a reliance on individual anecdotes. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=claims" title="claims">claims</a>, <a href="https://publications.waset.org/abstracts/search?q=net%20premium%20income" title=" net premium income"> net premium income</a>, <a href="https://publications.waset.org/abstracts/search?q=motor%20insurance" title=" motor insurance"> motor insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=soft%20fraud" title=" soft fraud"> soft fraud</a>, <a href="https://publications.waset.org/abstracts/search?q=hard%20fraud" title=" hard fraud"> hard fraud</a> </p> <a href="https://publications.waset.org/abstracts/148212/an-assessment-of-the-extent-and-impact-of-motor-insurance-fraud-claims-in-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/148212.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">108</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1541</span> Increasing National Health Insurance Scheme Enrolment in Ghana: Pro-Rata Insurance Premium Payment with Mobile Phone as the Answer</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Joseph%20Marfo%20Boaheng">Joseph Marfo Boaheng</a>, <a href="https://publications.waset.org/abstracts/search?q=Daniel%20Ansong"> Daniel Ansong</a>, <a href="https://publications.waset.org/abstracts/search?q=Eugenia%20Amporfo"> Eugenia Amporfo</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Health Insurance is proposed to provide financial protection against catastrophic health care cost arising from disease. Ghana has had a National Health Insurance Scheme (NHIS) since 2003 with the current enrolment/retention rate of 36%. The main goal of the scheme is to provide equity in the health sector as well as ensuring affordable health care for the poor. However, the current payment system is not flexible to attract significant proportion of the poor informal sector onto the scheme. Looking at the extensive use of mobiles in the Ghana where about 29,220,602.00 registered mobile phone lines are actively in used as of June 2014, paying health insurance premium through mobile phone could be feasible to attract larger proportion of the informal sector onto the scheme. Methodology: The quantitative cross-sectional survey was used to solicit the required information from 877 respondents living in Kumasi, the second capital city of Ghana. The magnitude of the effect of Pro-rata system (flexible payment terms) on NHIS enrollment rate was estimated with binary logistic regression model. Results: The odds for an individual to enroll onto NHIS with mobile phone increases about 2 times more when payment of insurance premium is on pro-rata basis ie. flexible payment terms (p=0.008, CI=1.212-3.565). Conclusion: The study advocates the National Health Insurance Authority consider this alternative payment system that has the potential of attracting a greater proportion of the informal sector to be enrolled or retained onto the scheme. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=enrollment" title="enrollment">enrollment</a>, <a href="https://publications.waset.org/abstracts/search?q=health%20insurance" title=" health insurance"> health insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=mobile%20phone" title=" mobile phone"> mobile phone</a>, <a href="https://publications.waset.org/abstracts/search?q=pro-rata" title=" pro-rata"> pro-rata</a> </p> <a href="https://publications.waset.org/abstracts/47829/increasing-national-health-insurance-scheme-enrolment-in-ghana-pro-rata-insurance-premium-payment-with-mobile-phone-as-the-answer" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47829.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">394</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1540</span> A Translog Analysis of Insurance Economies in Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Prince%20Ayodeji%20Yusuph">Prince Ayodeji Yusuph</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Recapitalization process that has recently become an imperative process in the Nigerian Financial industry has implications for the survival of insurance sector, especially on their service delivery efficiency. This study therefore seeks to investigate the problem of inefficiency in the Nigerian Insurance market from the perspective of their cost structures. The study takes advantage of secondary data of financial reports of thirty randomly selected insurance firms which span over a period of ten years and applied transcendental logarithm model to evaluate their performance from the cost structures strategy. The results indicate that only large scale firms enjoy cost saving advantages. Twenty percent firms sampled belong to this category. The result suggests that premium income would contribute to insurance firm鈥檚 performance, only when a sound investment decisions are made. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=transcedental%20logarithm" title="transcedental logarithm">transcedental logarithm</a>, <a href="https://publications.waset.org/abstracts/search?q=cost%20structures" title=" cost structures"> cost structures</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20firms%20and%20efficiency" title=" insurance firms and efficiency"> insurance firms and efficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=Nigeria" title=" Nigeria"> Nigeria</a> </p> <a href="https://publications.waset.org/abstracts/4388/a-translog-analysis-of-insurance-economies-in-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/4388.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">250</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1539</span> Evaluation of Merger Premium and Firm Performance in Europe </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Matthias%20Nnadi">Matthias Nnadi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper investigates the relationship between premiums and returns in the short and long terms in European merger and acquisition (M&A) deals. The study employs Calendar Time Portfolio (CTP) model and find strong evidence that in the long run, premiums have a positive impact on performance, and we also establish evidence of a significant difference between the abnormal returns of the high premium paying portfolio and the low premium paying ones. Even in cases where all sub-portfolios show negative abnormal returns, the high premium category still outperforms the low premium category. Our findings have implications for companies engaging in acquisitions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mergers" title="mergers">mergers</a>, <a href="https://publications.waset.org/abstracts/search?q=premium" title=" premium"> premium</a>, <a href="https://publications.waset.org/abstracts/search?q=performance" title=" performance"> performance</a>, <a href="https://publications.waset.org/abstracts/search?q=returns" title=" returns"> returns</a>, <a href="https://publications.waset.org/abstracts/search?q=acquisitions" title=" acquisitions"> acquisitions</a> </p> <a href="https://publications.waset.org/abstracts/30995/evaluation-of-merger-premium-and-firm-performance-in-europe" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/30995.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">278</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1538</span> Apricot Insurance Portfolio Risk</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Kasirga%20Yildirak">Kasirga Yildirak</a>, <a href="https://publications.waset.org/abstracts/search?q=Ismail%20Gur"> Ismail Gur</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We propose a model to measure hail risk of an Agricultural Insurance portfolio. Hail is one of the major catastrophic event that causes big amount of loss to an insurer. Moreover, it is very hard to predict due to its strange atmospheric characteristics. We make use of parcel based claims data on apricot damage collected by the Turkish Agricultural Insurance Pool (TARSIM). As our ultimate aim is to compute the loadings assigned to specific parcels, we build a portfolio risk model that makes use of PD and the severity of the exposures. PD is computed by Spherical-Linear and Circular 鈥揕inear regression models as the data carries coordinate information and seasonality. Severity is mapped into integer brackets so that Probability Generation Function could be employed. Individual regressions are run on each clusters estimated on different criteria. Loss distribution is constructed by Panjer Recursion technique. We also show that one risk-one crop model can easily be extended to the multi risk鈥搈ulti crop model by assuming conditional independency. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=hail%20insurance" title="hail insurance">hail insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=spherical%20regression" title=" spherical regression"> spherical regression</a>, <a href="https://publications.waset.org/abstracts/search?q=circular%20regression" title=" circular regression"> circular regression</a>, <a href="https://publications.waset.org/abstracts/search?q=spherical%20clustering" title=" spherical clustering "> spherical clustering </a> </p> <a href="https://publications.waset.org/abstracts/59203/apricot-insurance-portfolio-risk" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/59203.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">251</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1537</span> Application of Forward Contract and Crop Insurance as Risk Management Tools of Agriculture: A Case Study in Bangladesh</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20Bokhtiar%20Hasan">M. Bokhtiar Hasan</a>, <a href="https://publications.waset.org/abstracts/search?q=M.%20Delowar%20Hossain"> M. Delowar Hossain</a>, <a href="https://publications.waset.org/abstracts/search?q=Abu%20N.%20M.%20Wahid"> Abu N. M. Wahid</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The principal aim of the study is to find out a way to effectively manage the agricultural risks like price volatility, weather risks, and fund shortage. To hedge price volatility, farmers sometimes make contracts with agro-traders but fail to protect themselves effectively due to not having legal framework for such contracts. The study extensively reviews existing literature and find evidence that the majority studies either deal with price volatility or weather risks. If we could address these risks through a single model, it would be more useful to both the farmers and traders. Intrinsically, the authors endeavor in this regard, and the key contribution of this study basically lies in it. Initially, we conduct a small survey aspiring to identify the shortcomings of existing contracts. Later, we propose a model encompassing forward and insurance contracts together where forward contract will be used to hedge price volatility and insurance contract will be used to protect weather risks. Contribution/Originality: The study adds to the existing literature through proposing an integrated model comprising of forward contract and crop insurance which will support both farmers and traders to cope with the agricultural risks like price volatility, weather hazards, and fund shortage. JEL Classifications: O13, Q13 <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agriculture" title="agriculture">agriculture</a>, <a href="https://publications.waset.org/abstracts/search?q=forward%20contract" title=" forward contract"> forward contract</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20contract" title=" insurance contract"> insurance contract</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20management" title=" risk management"> risk management</a>, <a href="https://publications.waset.org/abstracts/search?q=model" title=" model"> model</a> </p> <a href="https://publications.waset.org/abstracts/102284/application-of-forward-contract-and-crop-insurance-as-risk-management-tools-of-agriculture-a-case-study-in-bangladesh" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/102284.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">154</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1536</span> The Bayesian Premium Under Entropy Loss</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Farouk%20Metiri">Farouk Metiri</a>, <a href="https://publications.waset.org/abstracts/search?q=Halim%20Zeghdoudi"> Halim Zeghdoudi</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohamed%20Riad%20Remita"> Mohamed Riad Remita</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Credibility theory is an experience rating technique in actuarial science which can be seen as one of quantitative tools that allows the insurers to perform experience rating, that is, to adjust future premiums based on past experiences. It is used usually in automobile insurance, worker's compensation premium, and IBNR (incurred but not reported claims to the insurer) where credibility theory can be used to estimate the claim size amount. In this study, we focused on a popular tool in credibility theory which is the Bayesian premium estimator, considering Lindley distribution as a claim distribution. We derive this estimator under entropy loss which is asymmetric and squared error loss which is a symmetric loss function with informative and non-informative priors. In a purely Bayesian setting, the prior distribution represents the insurer鈥檚 prior belief about the insured鈥檚 risk level after collection of the insured鈥檚 data at the end of the period. However, the explicit form of the Bayesian premium in the case when the prior is not a member of the exponential family could be quite difficult to obtain as it involves a number of integrations which are not analytically solvable. The paper finds a solution to this problem by deriving this estimator using numerical approximation (Lindley approximation) which is one of the suitable approximation methods for solving such problems, it approaches the ratio of the integrals as a whole and produces a single numerical result. Simulation study using Monte Carlo method is then performed to evaluate this estimator and mean squared error technique is made to compare the Bayesian premium estimator under the above loss functions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bayesian%20estimator" title="bayesian estimator">bayesian estimator</a>, <a href="https://publications.waset.org/abstracts/search?q=credibility%20theory" title=" credibility theory"> credibility theory</a>, <a href="https://publications.waset.org/abstracts/search?q=entropy%20loss" title=" entropy loss"> entropy loss</a>, <a href="https://publications.waset.org/abstracts/search?q=monte%20carlo%20simulation" title=" monte carlo simulation"> monte carlo simulation</a> </p> <a href="https://publications.waset.org/abstracts/47704/the-bayesian-premium-under-entropy-loss" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47704.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">334</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1535</span> Optimal Evaluation of Weather Risk Insurance for Wheat</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Slim%20Amami">Slim Amami</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A model is developed to prevent the risks related to climate conditions in the agricultural sector. It will determine the yearly optimum premium to be paid by a farmer in order to reach his required turnover. The model is mainly based on both climatic stability and 'soft' responses of usually grown species to average climate variations at the same place and inside a safety ball which can be determined from past meteorological data. This allows the use of linear regression expression for dependence of production result in terms of driving meteorological parameters, main ones of which are daily average sunlight, rainfall and temperature. By a simple best parameter fit from the expert table drawn with professionals, optimal representation of yearly production is deduced from records of previous years, and yearly payback is evaluated from minimum yearly produced turnover. Optimal premium is then deduced, and gives the producer a useful bound for negotiating an offer by insurance companies to effectively protect their harvest. The application to wheat production in the French Oise department illustrates the reliability of the present model with as low as 6% difference between predicted and real data. The model can be adapted to almost every agricultural field by changing state parameters and calibrating their associated coefficients. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agriculture" title="agriculture">agriculture</a>, <a href="https://publications.waset.org/abstracts/search?q=database" title=" database"> database</a>, <a href="https://publications.waset.org/abstracts/search?q=meteorological%20factors" title=" meteorological factors"> meteorological factors</a>, <a href="https://publications.waset.org/abstracts/search?q=production%20model" title=" production model"> production model</a>, <a href="https://publications.waset.org/abstracts/search?q=optimal%20price" title=" optimal price "> optimal price </a> </p> <a href="https://publications.waset.org/abstracts/10722/optimal-evaluation-of-weather-risk-insurance-for-wheat" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/10722.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">222</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1534</span> Insurance of Agricultural Activities as the Basis for Food Security</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=J.%20B.%20Akshataeva">J. B. Akshataeva</a>, <a href="https://publications.waset.org/abstracts/search?q=G.%20T.%20Aigarinova"> G. T. Aigarinova</a>, <a href="https://publications.waset.org/abstracts/search?q=A.%20Amankulova"> A. Amankulova</a>, <a href="https://publications.waset.org/abstracts/search?q=D.%20S.%20Kalkanova"> D. S. Kalkanova</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article examines some aspects of the insurance of agricultural activities, strategic documents on deepening investment opportunities. Insurance market development is before the society and the state. It also examines problems of agricultural insurance development in the market economy of Kazakhstan as the basis for food security. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agriculture" title="agriculture">agriculture</a>, <a href="https://publications.waset.org/abstracts/search?q=food%20safety" title=" food safety"> food safety</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance" title=" insurance"> insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=privacy%20issues" title=" privacy issues"> privacy issues</a> </p> <a href="https://publications.waset.org/abstracts/6296/insurance-of-agricultural-activities-as-the-basis-for-food-security" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/6296.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">503</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1533</span> Evaluation of Demand of Fire Insurance in Iran and Embrace Digitalization to Improve It</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mahsa%20Ghorbani%20Jazin">Mahsa Ghorbani Jazin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The insurance industry has a prominent place in the economy of every country in the world. Fire insurance policies are types of non-life insurance, which protect insureds against financial losses of fire and related risks. In this paper, factors that are affecting the demand for fire insurance in Iran have been examined. Due to this reason, information and data have been collected during the period 1989-2019. In this research, the final model was estimated. The obtained results represent that as the population and literacy rate increase, people are more willing to purchase fire insurance. On the other hand, the actual per capita income has a negative influence on the demand for this type of insurance. Also, the amount of compensation that is paid in losses can be assumed as an indirect advertisement for fire insurance and attracts people to buy this policy. Finally, the new technology in the insurance industry is examined as a new underestimated way for increasing demand, especially in Iran. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fire%20insurance" title="fire insurance">fire insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=demand" title=" demand"> demand</a>, <a href="https://publications.waset.org/abstracts/search?q=per%20capita%20income" title=" per capita income"> per capita income</a>, <a href="https://publications.waset.org/abstracts/search?q=literacy%20rate" title=" literacy rate"> literacy rate</a>, <a href="https://publications.waset.org/abstracts/search?q=population" title=" population"> population</a>, <a href="https://publications.waset.org/abstracts/search?q=compensation%20paid" title=" compensation paid"> compensation paid</a>, <a href="https://publications.waset.org/abstracts/search?q=Insurtech" title=" Insurtech"> Insurtech</a> </p> <a href="https://publications.waset.org/abstracts/145180/evaluation-of-demand-of-fire-insurance-in-iran-and-embrace-digitalization-to-improve-it" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/145180.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">201</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1532</span> Sustainability of Healthcare Insurance in India: A Review of Health Insurance Scheme Launched by States in India </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Zuhair">Mohd Zuhair</a>, <a href="https://publications.waset.org/abstracts/search?q=Ram%20Babu%20Roy"> Ram Babu Roy</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper presents an overview of the accessibility, design, and functioning of health insurance plans launched by state governments in India. In recent years, the governments of several states in India have come forward to provide health insurance coverage for the low-income group and rural population to reduce the out of pocket expenditure (OPE) on healthcare. Different health insurance schemes have different structures and offerings which differ in the different demographic factors. This study will portray a comparative analysis of the various health insurance schemes by analyzing different offerings and finance generation of the schemes. The comparative analysis will explain the lesson to be learned from these schemes and extend the existing knowledge of the health insurance in India. This would help in recognizing tension between various drivers and identifying issues pertaining to the sustainability of health insurance schemes in India. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=health%20insurance" title="health insurance">health insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=out%20of%20pocket%20expenditure" title=" out of pocket expenditure"> out of pocket expenditure</a>, <a href="https://publications.waset.org/abstracts/search?q=universal%20healthcare" title=" universal healthcare"> universal healthcare</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a> </p> <a href="https://publications.waset.org/abstracts/99066/sustainability-of-healthcare-insurance-in-india-a-review-of-health-insurance-scheme-launched-by-states-in-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/99066.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">238</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1531</span> Historical Metaphors in Insurance: A Journey</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Anjuman%20Antil">Anjuman Antil</a>, <a href="https://publications.waset.org/abstracts/search?q=Anuj%20Kapoor"> Anuj Kapoor</a>, <a href="https://publications.waset.org/abstracts/search?q=Neha%20Saini"> Neha Saini</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Purpose: The purpose of this paper is to study the evolution of insurance in India and the world. The paper also traced the historical basis of life insurance in the world and how it emerged as a major sector in India鈥檚 economy. The promotional strategies and distribution channel of top three companies in the Indian insurance sector are also discussed. Design/methodology/approach: The paper examined the secondary data which includes the reports issued by Insurance Regulatory Authority of India, websites of companies, books, and journals relevant to the study. Findings: The paper argued the role and importance of insurance in an emerging economy. The challenges and opportunities of the insurance sector are briefed out. The emerging areas in the insurance sector in terms of promotional strategies and distribution channel are also listed. Implications: The historical evolution can be studied by companies while formulating their strategies. It will help them analyse the insurance sector, how things have changed and how to change with the changing times. Originality/value: This paper gives comprehensive data regarding the background of the insurance sector. Along with historical perspective, marketing and distribution, current and future trends have been discussed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=insurance" title="insurance">insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=evolution" title=" evolution"> evolution</a>, <a href="https://publications.waset.org/abstracts/search?q=life%20insurance" title=" life insurance"> life insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=marketing" title=" marketing"> marketing</a>, <a href="https://publications.waset.org/abstracts/search?q=distribution%20channels" title=" distribution channels"> distribution channels</a> </p> <a href="https://publications.waset.org/abstracts/88292/historical-metaphors-in-insurance-a-journey" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/88292.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">234</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1530</span> Determining the Materiality of an Undisclosed Fact: An Onerous Duty on the Assured</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Adekemi%20Adebowale">Adekemi Adebowale</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The duty of disclosure in Nigerian insurance law is in need of reform. The materiality of an undisclosed fact (notwithstanding that it was an honest and innocent non-disclosure) currently entitles insurers to avoid insurance policies, leaving an insured with an uncovered loss. While the test of materiality requires an insured to voluntarily disclose facts that will influence an insurer's decision without proper guidelines from the insurer, the insurer is only expected to prove that the undisclosed fact had influenced its judgment in fixing the premium or determining whether to accept the risk. This problem places an onerous duty on the assured to volunteer to the insurer every material fact even though the insured only has a slight idea about the mind of a hypothetical prudent insurer. This paper explores the modern approach to revisiting the problem of an insured鈥檚 pre-contractual obligation to determine material facts in Nigerian insurance law. The aim is to build upon the change in the structure of insurance contract obligations in other common law jurisdictions such as the United Kingdom. The doctrinal and comparative methodology captures the burden imposed on the insured under the existing Nigerian insurance law. It finds that the continued application of the law leaves the insured in the weakest position, and he stands to lose in a contract supposedly created for his benefit. It is apparent that if this problem remains unresolved, the over-all consequence will contribute to a significant decline in the insurance contract, which may affect the Nigerian economy. The paper aims to evaluate the risks of the continuous application of the traditional law, which does not keep with the pace of modern insurance practice. It will ultimately produce a legally compliant reform, along with a significant deviation from the archaic structure that exists in the Nigerian insurance law. This paper forms part of an on-going PhD research on "The insured鈥檚 pre-contractual duty of utmost of utmost good faith". The outcome from the research to date finds that the insured bears the burden of the obligation to act in utmost good faith where it concerns disclosure of material facts. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=disclosure" title="disclosure">disclosure</a>, <a href="https://publications.waset.org/abstracts/search?q=materiality" title=" materiality"> materiality</a>, <a href="https://publications.waset.org/abstracts/search?q=Nigeria" title=" Nigeria"> Nigeria</a>, <a href="https://publications.waset.org/abstracts/search?q=United%20Kingdom" title=" United Kingdom"> United Kingdom</a>, <a href="https://publications.waset.org/abstracts/search?q=utmost%20good%20faith" title=" utmost good faith"> utmost good faith</a> </p> <a href="https://publications.waset.org/abstracts/124049/determining-the-materiality-of-an-undisclosed-fact-an-onerous-duty-on-the-assured" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/124049.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">121</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1529</span> Multivariate Dependent Frequency-Severity Modeling of Insurance Claims: A Vine Copula Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islem%20Kedidi">Islem Kedidi</a>, <a href="https://publications.waset.org/abstracts/search?q=Rihab%20Bedoui%20Bensalem"> Rihab Bedoui Bensalem</a>, <a href="https://publications.waset.org/abstracts/search?q=Faysal%20Manssouri"> Faysal Manssouri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In traditional models of insurance data, the number and size of claims are assumed to be independent. Relaxing the independence assumption, this article explores the Vine copula to model dependence structure between multivariate frequency and average severity of insurance claim. To illustrate this approach, we use the Wisconsin local government property insurance fund which offers several insurance protections for motor vehicles, property and contractor鈥檚 equipment claims. Results show that the C-vine copula can better characterize the multivariate dependence structure between frequency and severity. Furthermore, we find significant dependencies especially between frequency and average severity among different coverage types. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dependency%20modeling" title="dependency modeling">dependency modeling</a>, <a href="https://publications.waset.org/abstracts/search?q=government%20insurance" title=" government insurance"> government insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20claims" title=" insurance claims"> insurance claims</a>, <a href="https://publications.waset.org/abstracts/search?q=vine%20copula" title=" vine copula"> vine copula</a> </p> <a href="https://publications.waset.org/abstracts/101505/multivariate-dependent-frequency-severity-modeling-of-insurance-claims-a-vine-copula-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/101505.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">208</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1528</span> Production of Premium Quality Cinnamon Bark Powder Using Cryogenic Grinding</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Monika%20R.%20Bhoi">Monika R. Bhoi</a>, <a href="https://publications.waset.org/abstracts/search?q=R.%20F.%20Sutar"> R. F. Sutar</a>, <a href="https://publications.waset.org/abstracts/search?q=Bhaumik%20B.%20Patel"> Bhaumik B. Patel</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objective of this research paper is to obtain the premium quality of cinnamon bark powder through cryogenic grinding technology. The effect of grinding temperature (0, -20, -40, -60, -80 and -100藲C), feed rate (8, 9 and 10 kg/h), and sieve size (0.8, 1.0 and 1.5 mm) were evaluated with respect to grinding time, volatile oil content, particle size, energy consumption, and liquid nitrogen consumption. Cryogenic grinding process parameters were optimized to obtain premium quality cinnamon bark powder was carried out using three factorial completely randomized design. The optimization revealed that grinding of cinnamon bark at -80鈦癈 temperature using 0.8 mm sieve size and 10 kg/h feed rate resulted in premium quality cinnamon bark powder containing volatile oil 3.01%. In addition, volatile oil retention in cryogenically ground powder was 88.23%, whereas control (ambient grinding) had 33.11%. Storage study of premium quality cryogenically ground powder was carried out under accelerated storage conditions (38藲C & 90% R.H). Accelerated storage of cryoground powder was found to be advantageous over the conventional ground for extended storage of the ground cinnamon powder with retention of its nutritional quality. Hence, grinding of spices at optimally low cryogenic temperature is a promising technology for the production of its premium quality powder economically. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cinnamon%20bark" title="cinnamon bark">cinnamon bark</a>, <a href="https://publications.waset.org/abstracts/search?q=cryogenic%20grinding" title=" cryogenic grinding"> cryogenic grinding</a>, <a href="https://publications.waset.org/abstracts/search?q=feed%20rate" title=" feed rate"> feed rate</a>, <a href="https://publications.waset.org/abstracts/search?q=volatile%20oil" title=" volatile oil"> volatile oil</a> </p> <a href="https://publications.waset.org/abstracts/136064/production-of-premium-quality-cinnamon-bark-powder-using-cryogenic-grinding" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/136064.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">169</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1527</span> Organizational Mortality of Insurance Organizations under the Conditions of Environmental Changes</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Erdem%20Kirkbesoglu">Erdem Kirkbesoglu</a>, <a href="https://publications.waset.org/abstracts/search?q=A.%20Bugra%20Soylu"> A. Bugra Soylu</a>, <a href="https://publications.waset.org/abstracts/search?q=E.%20Deniz%20Kahraman"> E. Deniz Kahraman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The aim of this study is to examine the effects of some variables on organizational mortality of the Turkish insurance industry and calculate the carrying capacities of Turkish insurance industry according to cities and regions. In the study, organizational mortality was tested with the level of reaching the population's carrying capacity. The findings of this study show that the insurance sales potentials can be calculated according to the provinces and regions of Turkey. It has also been proven that the organizations that feed on the same source will have a carrying capacity in the evolutionary process. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=insurance" title="insurance">insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=carrying%20capacity" title=" carrying capacity"> carrying capacity</a>, <a href="https://publications.waset.org/abstracts/search?q=organizational%20mortality" title=" organizational mortality"> organizational mortality</a>, <a href="https://publications.waset.org/abstracts/search?q=organization" title=" organization"> organization</a> </p> <a href="https://publications.waset.org/abstracts/89651/organizational-mortality-of-insurance-organizations-under-the-conditions-of-environmental-changes" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/89651.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">282</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1526</span> A Comparative Study of Insurance Policies Worldwide in Public Private Partnerships</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Guanqun%20Shi">Guanqun Shi</a>, <a href="https://publications.waset.org/abstracts/search?q=Xueqing%20Zhang"> Xueqing Zhang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The frequent occurrence of failures in PPP projects which caused great loss has raised attention from the government as well as the concessionaire. PPPs are complex arrangements for its long operation period and multiple players. Many types of risks in PPP projects may cause the project fail. The insurance is an important tool to transfer the risks. Through a comparison and analysis of international government PPP guidelines and contracts as well as the case studies worldwide, we have identified eight main insurance principles, discussed thirteen insurance types in different stages. An overall procedure would be established to improve the practices in PPP projects. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=public%20private%20partnerships" title="public private partnerships">public private partnerships</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance" title=" insurance"> insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=contract" title=" contract"> contract</a>, <a href="https://publications.waset.org/abstracts/search?q=risk" title=" risk"> risk</a> </p> <a href="https://publications.waset.org/abstracts/75962/a-comparative-study-of-insurance-policies-worldwide-in-public-private-partnerships" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/75962.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">284</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1525</span> Impact of Brexit on the Structure of the European Insurance Market: A Solvency and Financial Condition Report Content Analysis of UK Insurance Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Antonia%20M%C3%BCller">Antonia M眉ller</a>, <a href="https://publications.waset.org/abstracts/search?q=Svend%20Reuse"> Svend Reuse</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Brexit referendum in June 2016 led to different publications analysing potential consequences for European and British insurance companies under the European Passport. This study addresses a research gap, regarding the measures taken by insurance companies based in the United Kingdom and thus on structural changes to the European insurance market by an innovative structured Solvency and Financial Condition Report content analysis. In scope are all insurance companies based in the United Kingdom, that fall under the Solvency II supervisory regime. The results show that the majority of British Solvency II insurance companies in scope, conducting cross-border business to the European Union, have applied and reported measures to be able to continue operating this cross-border business after Brexit. In addition, the study shows that 34 new insurance companies based in the European Union were established as a result of Brexit, indicating structural changes to the European insurance market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=brexit" title="brexit">brexit</a>, <a href="https://publications.waset.org/abstracts/search?q=europe" title=" europe"> europe</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20market" title=" insurance market"> insurance market</a>, <a href="https://publications.waset.org/abstracts/search?q=solvency%20and%20financial%20condition%20repot" title=" solvency and financial condition repot"> solvency and financial condition repot</a>, <a href="https://publications.waset.org/abstracts/search?q=structural%20changes" title=" structural changes"> structural changes</a> </p> <a href="https://publications.waset.org/abstracts/145865/impact-of-brexit-on-the-structure-of-the-european-insurance-market-a-solvency-and-financial-condition-report-content-analysis-of-uk-insurance-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/145865.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">206</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1524</span> Macroeconomic Determinants of Cyclical Variations in Value, Size, and Momentum Premium in the UK</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=G.%20Sarwar">G. Sarwar</a>, <a href="https://publications.waset.org/abstracts/search?q=C.%20Mateus"> C. Mateus</a>, <a href="https://publications.waset.org/abstracts/search?q=N.%20Todorovic"> N. Todorovic</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper examines the asymmetries in size, value and momentum premium over the economic cycles in the UK and their macroeconomic determinants. Using Markov switching approach we find clear evidence of cyclical variations of the three premiums, most noticeably variations in size premium. We associate Markov switching regime 1 with economic upturn and regime 2 with economic downturn as per OECD鈥檚 Composite Leading Indicator. The macroeconomic indicators prompting such cyclicality the most are interest rates, term structure and credit spread. The role of GDP growth, money supply and inflation is less pronounced in our sample. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=macroeconomic%20determinants" title="macroeconomic determinants">macroeconomic determinants</a>, <a href="https://publications.waset.org/abstracts/search?q=Markorv%20Switching" title=" Markorv Switching"> Markorv Switching</a>, <a href="https://publications.waset.org/abstracts/search?q=size" title=" size"> size</a>, <a href="https://publications.waset.org/abstracts/search?q=value" title=" value "> value </a> </p> <a href="https://publications.waset.org/abstracts/23394/macroeconomic-determinants-of-cyclical-variations-in-value-size-and-momentum-premium-in-the-uk" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/23394.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">486</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1523</span> By-Line Analysis of Determinants Insurance Premiums : Evidence from Tunisian Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nadia%20Sghaier">Nadia Sghaier</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we aim to identify the determinants of the life and non-life insurance premiums of different lines for the case of the Tunisian insurance market over a recent period from 1997 to 2019. The empirical analysis is conducted using the linear cointegration techniques in the panel data framework, which allow both long and short-run relationships. The obtained results show evidence of long-run relationship between premiums, losses, and financial variables (stock market indices and interest rate). Furthermore, we find that the short-run effect of explanatory variables differs across lines. This finding has important implications for insurance tarification and regulation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=insurance%20premiums" title="insurance premiums">insurance premiums</a>, <a href="https://publications.waset.org/abstracts/search?q=lines" title=" lines"> lines</a>, <a href="https://publications.waset.org/abstracts/search?q=Tunisian%20insurance%20market" title=" Tunisian insurance market"> Tunisian insurance market</a>, <a href="https://publications.waset.org/abstracts/search?q=cointegration%20approach%20in%20panel%20data" title=" cointegration approach in panel data"> cointegration approach in panel data</a> </p> <a href="https://publications.waset.org/abstracts/140643/by-line-analysis-of-determinants-insurance-premiums-evidence-from-tunisian-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/140643.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">198</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1522</span> Forecasting Equity Premium Out-of-Sample with Sophisticated Regression Training Techniques</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jonathan%20Iworiso">Jonathan Iworiso</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Forecasting the equity premium out-of-sample is a major concern to researchers in finance and emerging markets. The quest for a superior model that can forecast the equity premium with significant economic gains has resulted in several controversies on the choice of variables and suitable techniques among scholars. This research focuses mainly on the application of Regression Training (RT) techniques to forecast monthly equity premium out-of-sample recursively with an expanding window method. A broad category of sophisticated regression models involving model complexity was employed. The RT models include Ridge, Forward-Backward (FOBA) Ridge, Least Absolute Shrinkage and Selection Operator (LASSO), Relaxed LASSO, Elastic Net, and Least Angle Regression were trained and used to forecast the equity premium out-of-sample. In this study, the empirical investigation of the RT models demonstrates significant evidence of equity premium predictability both statistically and economically relative to the benchmark historical average, delivering significant utility gains. They seek to provide meaningful economic information on mean-variance portfolio investment for investors who are timing the market to earn future gains at minimal risk. Thus, the forecasting models appeared to guarantee an investor in a market setting who optimally reallocates a monthly portfolio between equities and risk-free treasury bills using equity premium forecasts at minimal risk. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=regression%20training" title="regression training">regression training</a>, <a href="https://publications.waset.org/abstracts/search?q=out-of-sample%20forecasts" title=" out-of-sample forecasts"> out-of-sample forecasts</a>, <a href="https://publications.waset.org/abstracts/search?q=expanding%20window" title=" expanding window"> expanding window</a>, <a href="https://publications.waset.org/abstracts/search?q=statistical%20predictability" title=" statistical predictability"> statistical predictability</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20significance" title=" economic significance"> economic significance</a>, <a href="https://publications.waset.org/abstracts/search?q=utility%20gains" title=" utility gains"> utility gains</a> </p> <a href="https://publications.waset.org/abstracts/154547/forecasting-equity-premium-out-of-sample-with-sophisticated-regression-training-techniques" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/154547.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">107</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1521</span> Agro-Insurance and Farming Development Opportunities in Georgia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tamar%20Lazariashvili">Tamar Lazariashvili</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Introduction: The agro-insurance has great importance for agricultural development in the country. In the article, the insurance market of the Georgian agricultural sector has been studied, the level of interest of farmers with insurance products and the trend of demand for those products are revealed; also, the importance of insurance is substantiated. Methodology: The following research methods are applied in the presented paper: statistical (selection, grouping, observation, trend) and qualitative research (in-depth interview with farmers). They claim that the main reason for aggravation is the low level of trust, less awareness about the conditions of the insurance contract. In order to eradicate distrust towards agro-insurance, it is recommended to increase awareness of insured farmers in terms of an insurance agreement. In the case of disputable issues between insurance companies and the customers (farmers), it is advisable to enact the Mediation Service, which will be able to protect the rights of insured farmers. Main Findings: Insurance companies prefer to deal with large farmers, the number of them is very small in Georgia as the credit market. The government interference in this sector is also a very cautious topic. However, the government can strengthen the awareness of farmers about the characteristics and advantages of the insurance system in order to increase the number of insured and reduce insurance premiums for farmers. Conclusion: Enactment of agro-insurance will increase the interest and confidence of financial institutions in the farming sector, financial resources will be accessible to the farmers that will facilitate the stable development of the sector in the country. The size of the agro-insurance market in the country should be increased, and the new territories should be covered. The State must have an obligation to ensure the risk of farmers and subsidize insurance companies. Based on the analysis of the insurance market, the conclusions on agro-insurance issues and the relevant recommendations are proposed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Agro-insurance" title="Agro-insurance">Agro-insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=agricultural%20product" title=" agricultural product"> agricultural product</a>, <a href="https://publications.waset.org/abstracts/search?q=Agro-market" title=" Agro-market"> Agro-market</a>, <a href="https://publications.waset.org/abstracts/search?q=farming" title=" farming"> farming</a> </p> <a href="https://publications.waset.org/abstracts/109002/agro-insurance-and-farming-development-opportunities-in-georgia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/109002.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">123</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1520</span> Risk Management of Natural Disasters on Insurance Stock Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tarah%20Bouaricha">Tarah Bouaricha</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=study%20event" title="study event">study event</a>, <a href="https://publications.waset.org/abstracts/search?q=natural%20disasters" title=" natural disasters"> natural disasters</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance" title=" insurance"> insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=reinsurance" title=" reinsurance"> reinsurance</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20market" title=" stock market"> stock market</a> </p> <a href="https://publications.waset.org/abstracts/35828/risk-management-of-natural-disasters-on-insurance-stock-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35828.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">395</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1519</span> Discrimination in Insurance Pricing: A Textual-Analysis Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ruijuan%20Bi">Ruijuan Bi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Discrimination in insurance pricing is a topic of increasing concern, particularly in the context of the rapid development of big data and artificial intelligence. There is a need to explore the various forms of discrimination, such as direct and indirect discrimination, proxy discrimination, algorithmic discrimination, and unfair discrimination, and understand their implications in insurance pricing models. This paper aims to analyze and interpret the definitions of discrimination in insurance pricing and explore measures to reduce discrimination. It utilizes a textual analysis methodology, which involves gathering qualitative data from relevant literature on definitions of discrimination. The research methodology focuses on exploring the various forms of discrimination and their implications in insurance pricing models. Through textual analysis, this paper identifies the specific characteristics and implications of each form of discrimination in the general insurance industry. This research contributes to the theoretical understanding of discrimination in insurance pricing. By analyzing and interpreting relevant literature, this paper provides insights into the definitions of discrimination and the laws and regulations surrounding it. This theoretical foundation can inform future empirical research on discrimination in insurance pricing using relevant theories of probability theory. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=algorithmic%20discrimination" title="algorithmic discrimination">algorithmic discrimination</a>, <a href="https://publications.waset.org/abstracts/search?q=direct%20and%20indirect%20discrimination" title=" direct and indirect discrimination"> direct and indirect discrimination</a>, <a href="https://publications.waset.org/abstracts/search?q=proxy%20discrimination" title=" proxy discrimination"> proxy discrimination</a>, <a href="https://publications.waset.org/abstracts/search?q=unfair%20discrimination" title=" unfair discrimination"> unfair discrimination</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance%20pricing" title=" insurance pricing"> insurance pricing</a> </p> <a 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