Ebook: Theory and Practice of Insurance

Insurance is a concept, a technique, and an economic institution. It is a major tool of risk management, and plays an important role in the economic, social, and political life of all countries. Economic growth throughout the world has even expanded the role of insurance. Theoryand Practice of Insurance aims to describe the significance of insurance institutions, the reasons they exist and how they function. The author emphasizes fundamental principles in risk and insurance, using an international frame of reference. This volume begins with an introduction to the concept of risk, then proceeds to cover insurance and its relationship to the economy; the principles of risk management and insurance; and the characteristics and performance of insurance companies.

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Insurance is a concept, a technique, and an economic institution. It is a major tool of risk management, and plays an important role in the economic, social, and political life of all countries. Economic growth throughout the world has even expanded the role of insurance. Theoryand Practice of Insurance aims to describe the significance of insurance institutions, the reasons they exist and how they function. The author emphasizes fundamental principles in risk and insurance, using an international frame of reference. This volume begins with an introduction to the concept of risk, then proceeds to cover insurance and its relationship to the economy; the principles of risk management and insurance; and the characteristics and performance of insurance companies.

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Insurance is a concept, a technique, and an economic institution. It is a major tool of risk management, and plays an important role in the economic, social, and political life of all countries. Economic growth throughout the world has even expanded the role of insurance. Theoryand Practice of Insurance aims to describe the significance of insurance institutions, the reasons they exist and how they function. The author emphasizes fundamental principles in risk and insurance, using an international frame of reference. This volume begins with an introduction to the concept of risk, then proceeds to cover insurance and its relationship to the economy; the principles of risk management and insurance; and the characteristics and performance of insurance companies.
Content:
Front Matter....Pages i-xii
The Meaning of Risk....Pages 1-12
Front Matter....Pages 13-13
Insurance and Economic Development....Pages 15-28
Insurance in the World Economy Today....Pages 29-44
Front Matter....Pages 45-45
Risk Management Concepts....Pages 47-72
Risk Analysis Fundamentals....Pages 73-89
Risk Financing Decisions....Pages 91-109
Front Matter....Pages 111-111
Risk Aversion and Insurance....Pages 113-130
Insurance Concepts....Pages 131-146
Pricing Insurance Contracts....Pages 147-177
Retention, Self-Insurance, Captive Insurance Companies....Pages 179-196
Front Matter....Pages 197-197
Organization of Insurance Markets....Pages 199-220
Operations of Insurance Companies....Pages 221-232
Reserves and Investments....Pages 233-261
Reinsurance....Pages 263-288
Front Matter....Pages 289-289
Financial Reporting and Performance....Pages 291-314
Supervision of Insurance Operations....Pages 315-334
Back Matter....Pages 335-340

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Insurance is a concept, a technique, and an economic institution. It is a major tool of risk management, and plays an important role in the economic, social, and political life of all countries. Economic growth throughout the world has even expanded the role of insurance. Theoryand Practice of Insurance aims to describe the significance of insurance institutions, the reasons they exist and how they function. The author emphasizes fundamental principles in risk and insurance, using an international frame of reference. This volume begins with an introduction to the concept of risk, then proceeds to cover insurance and its relationship to the economy; the principles of risk management and insurance; and the characteristics and performance of insurance companies.
Content:
Front Matter....Pages i-xii
The Meaning of Risk....Pages 1-12
Front Matter....Pages 13-13
Insurance and Economic Development....Pages 15-28
Insurance in the World Economy Today....Pages 29-44
Front Matter....Pages 45-45
Risk Management Concepts....Pages 47-72
Risk Analysis Fundamentals....Pages 73-89
Risk Financing Decisions....Pages 91-109
Front Matter....Pages 111-111
Risk Aversion and Insurance....Pages 113-130
Insurance Concepts....Pages 131-146
Pricing Insurance Contracts....Pages 147-177
Retention, Self-Insurance, Captive Insurance Companies....Pages 179-196
Front Matter....Pages 197-197
Organization of Insurance Markets....Pages 199-220
Operations of Insurance Companies....Pages 221-232
Reserves and Investments....Pages 233-261
Reinsurance....Pages 263-288
Front Matter....Pages 289-289
Financial Reporting and Performance....Pages 291-314
Supervision of Insurance Operations....Pages 315-334
Back Matter....Pages 335-340
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