Underwriting

The importance of regulations that can enhance risk management and also improve decision making in insurance organizations was emphasized by collapse of Independent Insurance Company Limited in 2001. These lessons should be fresh in the minds of executives and senior managers of insurance companies because they highlight the significance of effective governance structures within companies. Woolf (2007) in an article in Accountancy Magazine described the collapse of The Independent Insurance…

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intelligent. The federal housing administration (still operating today) is my favorite program. Banks failed, people did not have much money, and due to that, they were homeless. The federal housing administration sets standards for construction, underwriting, and insures loans made by banks and other private lenders for home building (wiki). This made living conditions much safer and it also made people more comfortable because the mortgage market was secure. The federal security agency…

the Bank Holding Company Act that prohibited a bank from controlling a non-bank company in nineteen fifty-six (1956) (Center, 1994). As a result, congress amended the Bank Holding Act to further forbid the banks from creating insurance agency or underwriting activities in nineteen eighty-two (1982) (Center, 1994). Moreover, the GLBA repealed sections of these acts in the year nineteen ninety-nine (1999 ) and gave permission to banks to have an interest in financial services. In the year nineteen…

As a director, he was required to act, exercise and discharge his duties in accordance to Section 180, Section 181, Section 182 and Section 183 of the Corporation Act. He however failed to do so, for example when he authorised the issue of a prospectus by HIH Holdings (NZ) Ltd for the purpose of raising up $155 million of convertible notes to assist HIH in funding the takeover of the FAI. The prospectus failed to disclose the effect of a simultaneous transaction between HIH and Societe Generale…

If Payday Lending Ends, What Replaces It? If Payday Lending Ends, What Replaces It? Payday lending has been attacked from many quarters because the industry is an easy target in today's media-savvy, soundbite culture. The Consumer Financial Protection Bureau, or CFPB, has been tasked with recommending financial reforms, and despite limits to its powers that include not being empowered to set interest caps on lending rates, the agency has arbitrarily recommended a 36 APR limit. Knowledgeable…

Individuals tend to prosper and advance more when there exists mutual cooperation among each other within a just society than they would if they were to only look after and provide for themselves. Assuming that a society’s moral standards are just, one can infer that the social collaboration within a community seeks to establish what is good (e.g. happiness, success) amongst ALL their members equally. This is typically accomplished through the creation and regulation of the basic structure of a…

Combined Ratio: Loss Ratio + Expense ratio The sum of Loss ratio and Expense ratio is called combined ratio. It shows the profitability of the insurer. The loss ratio measures the efficiency in underwriting and the expense ratio measures the management competency and efficiency. The loss ratio is calculated as the claims that are payable to the earned premium in percentage, and expense ratio is calculated as a percentage of the operating expense to the earned premium. It is better if the…

“ Never let life impede on your ability to manifest your dreams. Dig deeper into your dreams and deeper into yourself and believe that anything is possible, and make it happen.” The American dream is achieved through sacrifice, risk-taking, and hard work, not by chance. All dreams in this life will need a lot of effort and strong determination to make them come true. The American Dream is a life of personal happiness and material comfort as traditionally sought by individuals in the U.S.…

from 25% of the Indian government's instruction spending plan, cleared a mechanical way for Indian monetary development. To others, essential proficiency and wellbeing especially for ladies ought to have gotten India's most critical attentions. Underwriting widespread education, essential training and social insurance is a colossally costly long haul undertaking in a nation where 61 percent remain capacity poor living in families that do not have the fundamental abilities for financial…