Thesis (M.Com. (Actuarial Science))--University of Pretoria, 2001. / Summaries in Afrikaans and English. Adobe Acrobat Reader needed to open files.

Inaug.--Diss.--Zürich. / Includes bibliographical references.

Three economic issues in property/casualty insurance are examined in this thesis. Chapter 2 explores the impact of supply side heterogeneity on the market equilibrium. Multiple period contracting and informational issues are examined in Chapters 3 and 4. Property/casualty insurance is marketed in two manners: through agency writers and direct writers. Direct writers can sell insurance at a lower cost than agency writers. By exploiting demand side characteristics, Chapter 2 extends the traditional literature by examining the behaviour of heterogeneous insurers within a framework that admits both direct and agency writers in equilibrium. Heterogeneous travel costs are used to support this equilibrium. A second model is developed in which claim frequency heterogeneity is introduced on the demand side. It is assumed that agency writers can better discern a consumer's risk type. Characteristics of equilibria under which direct and agency writers exist are derived. In Chapter 3, Rothschild and Stiglitz's (1976) single period insurance model is extended to multiple periods. In a multiple period framework, insurers offer a sequence of single period contracts in which future contracts are conditioned on past contract choices. For dynamic consistency, once low risks have revealed their type, future contracts must be contingent on this event. This contract structure is compared to both a sequence of one period pooling contracts and a sequence of one period separating contracts. Numerical examples illustrate the results. In Chapter 4, learning by insurers is examined in a model in which consumers possess search costs. The presence of search costs allows inefficient insurers to remain in the market, and allows lower cost firms to earn higher profit loadings each period. Insurers, who possess differing initial valuations of a consumer's loss propensity, update the contract offered each period based on a consumer's past accident history. In a multiple period setting, consumers search for new coverage and switch insurers when the price charged by their contracting insurer exceeds the price that they are willing to pay.

Thesis (M.S.)--Virginia Polytechnic Institute, 1962. / Vita. Abstract. Includes bibliographical references (leaves 87-88). Also available via the Internet.

Three economic issues in property/casualty insurance are examined in this thesis. Chapter 2 explores the impact of supply side heterogeneity on the market equilibrium. Multiple period contracting and informational issues are examined in Chapters 3 and 4. Property/casualty insurance is marketed in two manners: through agency writers and direct writers. Direct writers can sell insurance at a lower cost than agency writers. By exploiting demand side characteristics, Chapter 2 extends the traditional literature by examining the behaviour of heterogeneous insurers within a framework that admits both direct and agency writers in equilibrium. Heterogeneous travel costs are used to support this equilibrium. A second model is developed in which claim frequency heterogeneity is introduced on the demand side. It is assumed that agency writers can better discern a consumer's risk type. Characteristics of equilibria under which direct and agency writers exist are derived. In Chapter 3, Rothschild and Stiglitz's (1976) single period insurance model is extended to multiple periods. In a multiple period framework, insurers offer a sequence of single period contracts in which future contracts are conditioned on past contract choices. For dynamic consistency, once low risks have revealed their type, future contracts must be contingent on this event. This contract structure is compared to both a sequence of one period pooling contracts and a sequence of one period separating contracts. Numerical examples illustrate the results. In Chapter 4, learning by insurers is examined in a model in which consumers possess search costs. The presence of search costs allows inefficient insurers to remain in the market, and allows lower cost firms to earn higher profit loadings each period. Insurers, who possess differing initial valuations of a consumer's loss propensity, update the contract offered each period based on a consumer's past accident history. In a multiple period setting, consumers search for new coverage and switch insurers when the price charged by their contracting insurer exceeds the price that they are willing to pay. / Business, Sauder School of / Finance, Division of / Graduate

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The purposes of the study were to: (1) compare the cost-loss ratio of selected Indiana school corporations in physical property insurance coverage; (2) review the established self-insurance funds that provide protection for public school property; (3) form a hypothetical self-insurance fund for the protection of the physical property of Indiana school corporations; and (4) to determine if a program of self-insurance by means of a funded reserve was feasible as an alternative for the protection of physical property.The method of investigation included the gathering of data by means of a developed questionnaire from selected Indiana school corporations having 10,000 students or more during the years 1969-70 through 1973-74. Evaluation was done by computing cost-loss ratios from the data. A review of operating self-insurance programs was made and a model plan of self-insurance for the public schools of Indiana was presented based on criteria of the operating funds and the experiences of the Indiana school corporations.The data were reported under the following divisions:1. The money expended for insurance premiums for the protection of physical property.2. The appraised value of the property insured.3. The method used to arrive at the valuation.4. The amount of money received from insurance companies as indemnity for loss of physical property.5. The difficulty encountered in obtaining insurance coverage for the school property.6. The method used for purchasing school physical property insurance.The data were treated normatively using percentages and tables. The findings of the study are as follows:1. The ratio of claims paid to the premium costs of insurance was 15.22 per cent for the five-year period.2. Twenty-nine per cent of the school corporations used the insurance company engineer to appraise the value of public school property; 29 per cent used the professional appraisal company; 17 per cent made use of architects; and 13 per cent used a committee to determine the insurable value of the physical property.3. Seventy-five per cent of the administrators reported that competitive bids were used for purchasing insurance. However, 25 per cent used other methods of placing the school property insurance.4. Most of the administrators, 87.50 per cent, reported having no difficulty in placing the coverage for the protection of their physical property; however, 12.50 per cent experienced difficulty in finding a company willing to insure the property.The findings of the study support the following conclusions:1. A considerable cash reserve would be available for educational purposes, other than the payment for insurance premiums, if the school corporations in the study had formed a selfinsurance fund during the 1969-70 school year and maintained the fund for the five-year period.2. All of the state self-insurance funds are operating with sufficient reserves to meet operating expenses and pay loss claims as they occur.3. Insurance costs for the public schools in states with operating self-insurance funds varied from no costs to 68 per cent of insurance bureau rates.4. Economically, a self-insurance fund would be feasible for the public schools of Indiana.The findings and conclusions of the study support the following recommendations:1. A self-insurance fund modeled after the one presented in this study should be developed and presented for consideration by the Indiana General Assembly.2. The General Assembly should provide a reserve for the fund during the first years of operation to insure solvency.3. The fund should operate on sound insurance principles and should be free from political pressures.

Thesis (Ph. D.)--Ohio State University, 1972. / Includes vita. Includes bibliographical references (leaves 357-361). Available online via OhioLINK's ETD Center.

Property insurance covers policyholders against losses arising out of a wide range of occurrences. Premiums are calculated by taking into account estimates of the frequency and the severity of the losses. Estimating the frequency and severity arising from claims caused by natural catastrophes is difficult, due to the relatively low frequency of natural catastrophes, and the unavailability of historical catastrophe claims data. The accumulation of a large number of claims in the geographical area affected by the catastrophe is of particular interest to insurers and reinsurers alike. This dissertation discusses the fundamental issues underlying the modelling insurance losses from natural catastrophes in South Africa. A suggestion is given of the key parameters that need to be taken into account, and a framework is given for models describing losses arising from floods, hail and tornadoes. Copyright / Dissertation (MCom)--University of Pretoria, 2003. / Insurance and Actuarial Science / unrestricted

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