Kategoria BISAC: Business & Economics >> Insurance - General

Conventional wisdom holds that programs for the poor are vulnerable to instability and retrenchment. Medicaid, however, has grown into the nation s largest intergovernmental grant program, accounting for nearly half of all federal funding to state and local governments. Medicaid s generous open-ended federal matching grants have given governors a powerful incentive to mobilize on behalf of its maintenance and expansion, using methods ranging from lobbying and negotiation to creative financing mechanisms and waivers to maximize federal financial assistance. Perceiving federal retrenchment...

The unique features of the Lloyd's Corporation and Market and their governing rules are complex and are often difficult to navigate even for the most seasoned practitioner. This book provides the reader with a definitive and detailed guide, and is essential for any practitioner dealing with Lloyd's Insurance.

After a brief historical account, the book provides a thorough legal description and analysis of Lloyd's, which includes topics ranging from the constitution and membership requirements of Lloyd's, UK and overseas regulation, the processes for placing and underwriting...

The Pfandbrief, a mostly triple-A rated German bank debenture, has become the blueprint of many covered bond models in Europe and beyond. The Pfandbrief is collateralized by long-term assets such as property mortgages or public sector loans as stipulated in the Pfandbrief Act.

With a history that goes back to the 18th century and a high market share in today's covered bond markets, the German Pfandbrief is the most established covered bond. Until today, no single Pfandbrief has ever defaulted.

Even though Pfandbriefe have survived the financial crisis comparably unharmed,...

Insurance is a central, if until now ignored, instrument of war in the modern period. Ever since the eighteenth century, interaction between governments and insurers in Western countries has materialised in the form of war risk schemes that have contributed to the waging of war and the preservation of peace. The operation of those schemes has given rise to a curious, if not innocent, association between practices of statehood and practices of risk, which are theorised here under the label of 'insurantial sovereignty'.

The book draws on the British experience of using maritime...

A Hands-On Approach to Understanding and Using Actuarial Models

Computational Actuarial Science with R provides an introduction to the computational aspects of actuarial science. Using simple R code, the book helps you understand the algorithms involved in actuarial computations. It also covers more advanced topics, such as parallel computing and C/C++ embedded codes.

After an introduction to the R language, the book is divided into four parts. The first one addresses methodology and statistical modeling issues. The second part discusses the...

Actuarial Models: The Mathematics of Insurance, Second Edition thoroughly covers the basic models of insurance processes. It also presents the mathematical frameworks and methods used in actuarial modeling. This second edition provides an even smoother, more robust account of the main ideas and models, preparing students to take exams of the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS).

New to the Second Edition

• Revises all chapters, especially material on the surplus process
• Takes into account new...

The main purpose of the book is to show how a viscosity approach can be used to tackle control problems in insurance. The problems covered are the maximization of survival probability as well as the maximization of dividends in the classical collective risk model. The authors consider the possibility of controlling the risk process by reinsurance as well as by investments. They show that optimal value functions are characterized as either the unique or the smallest viscosity solution of the associated Hamilton-Jacobi-Bellman equation; they also study the structure of the optimal strategies...

When political parties make policy decisions they are influenced by the competition they face from other parties. This book examines how party competition and party systems affect reforms of social protection. Featuring a historical comparison of Italy and Germany post-1945, the book shows how a high number of parties and ideological polarisation lead to fragmented and unequal social benefits.

Utilising a comparative approach, the author brings together two important issues in welfare state research that have been insufficiently investigated. Firstly, the complex influence...

Investment and risk management problems are fundamental problems for financial institutions and involve both speculative and hedging decisions. A structured approach to these problems naturally leads one to the field of applied mathematics in order to translate subjective probability beliefs and attitudes towards risk and reward into actual decisions.

In Risk and Portfolio Analysis the authors present sound principles and useful methods for making investment and risk management decisions in the presence of hedgeable and non-hedgeable risks using the simplest possible...