Cover Story
Pension Reforms in India --Abhishek Agrawal
Pension reforms in India are finally taking place. A new Pension Fund Regulatory Authority (PFRA) is to be set up and six fund managers with three plans each, is announced by the government recently. At the same time, IRDA has announced its Standard Pension Plan in order to bridge the gap. While the reform process is in and more people are expected to be covered, the critical issue that remains is that of fund management.
© IUP. All Rights Reserved.
Pension Reforms: A New Dawn --U Jawaharlal
The problems that arise as a result of the increase in the population of older generation is universal in nature. Unless there are effective, old-age income-related schemes in place, the dependence of the older generation on the younger is bound to rise. Governments world over are devising ways to tackle this crucial problem and India is not far behind.
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Non-life Insurance
The Future of US Property and Casualty Insurance Industry: Six Feet Under? -- Sean van Zyl
The recently held National Insurance Leadership Symposium at San Francisco brought out the various bottlenecks being experienced by the property and casualty insurers of North America. The performance of the insurers is likely to be affected because of problems like increased financial volatility etc. This article throws light on the state of affairs of North America-based property and casualty insurers.
© www.canadianunderwriter.ca. Reprinted with permission.
Private Players Gain in Non-life Segment --Jimmy John
more than two years after privatization, Indian insurance sector has undergone a metamorphosis in its anatomy. non-life companies owned by the state, seem to be losing luster and the private non-life companies are hogging the limelight in the industry. This article elaborates on the business environment in the Indian insurance sector.
© asia insurance review, June 2003. Reprinted with permission.
Risk Management
Risk Never sleeps -- Ami L Randall
Gone are the days when shift-based employment was considered to be a blue-collar job. as many as 25 million Americans are engaged in shift-based jobs despite being in respectable positions. Frequent accidents, decrement quality, reduced productivity etc., are a few observed results of the 24/7 working concept. The soaring insurance premiums are an added penalty to the existing scenario. The article analyzes these issues in detail.
© www.contingencies.org. Reprinted with permission.
Finite Risk Insurance: New kid on the block --Arindam Banerjee
With today's vast array of risk finance offerings, an investment institution is just as likely to accept a company's risk as an insurer. To protect their interest, traditional insurers are beginning to fight back with blended financial and traditional risk programs. Finite risk insurance is closer in format to traditional insurance with added features, as compared to the traditional investment products.
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Country Profile
M&A activity in the German insurance market
-- Henning Heuerding and Andreas Freiling
German insurers are facing difficult times, caused by tight underwriting margins and deteriorating stock markets. Normally, this would be an opportunity to clear out overcapacity in the market; however, a number of factorsnot specific to the German market alonecounsel for caution on the side of potential investors. As a result, the only strategy left to a number of institutions is to sit tight and wait until the storm is blown over.
© European Insurance Digest, a publication of pwc, June 2003. Reprinted with permission.
Business Environment
Unfair Game -- Martin Baker
Fraudulent claims have become a matter of concern in the insurance industry worldwide. Sources say that British insurers have lost around £1 bn last year. What are the reasons behind this high frequency of insurance frauds? What could be the remedy? These are few questions, which, if answered, may keep the insurance companies away from frauds. This article is an attempt to answer these crucial questions.
© CII Journal, May 2003. Reprinted with permission.
Blazing a Career Path in Insurance -- V Sesha Ayyar
The opening up of insurance industry has created a lot of job opportunities in this sector. Various academic institutions have come up with several courses in insurance. training and coaching institutes have been coming up in the country at a pace that matches industry developments. This article talks about the career opportunities in the field of insurance.
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Risk and Insurance
Considering Alternative Risk Transfer --Peter M Polstein
The utilization of alternative risk transfer (ART) to create competitive pricing, not only in the current insurance marketplace, but also during more placid times, provides a multitude of opportunities within the insurance and non-insurance arena. A major premise of this insurance solution is based on the theory that the risk cost of insurance can be dramatically reduced, where the insured is willing to accept those losses, or in some instances coverages, that are expected.
© www.irmi.com. Reprinted with permission.
Management
Training in Insurance Industry --KBS Kumar
insurance companies are moving ahead with their aggressive strategies to capture the market share in the industry. increasing competition and expanding product base of companies have made training programs for insurance personnel a necessity. This article looks at this need and also tries to identify the areas where training is required.
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