Insurance

* Protected self-insurance is another mechanism for financing risks in an organization that retains mathematically the cost of risk within the organization and transfer the risks with catastrophic limits and aggregate to an insurer so that the total number maximum cost of the program is known. A properly designed and guaranteed protected self-insurance program stabilizes and reduced insurance costs and provides valuable information risk management.
In retrospect nominal * Insurance is a method to put in place a premium on large commercial accounts. The final premium is based on actual insured losses during the experience of time, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula. Under this plan, this year, the premium is based partially (or fully) to the current year, losses, although the premium adjustments May take months or years beyond the year expiration date. The rating formula is guaranteed under the insurance contract. Formula: A Retrospective premium converted = loss + basic premium × tax ratio. There are many variations on this formula were developed and are in use.
* Fraternal insurance is provided on a cooperative basis by mutual aid societies or other social organizations. [9]
* Auto insurance is a deliberate choice to pay for losses insurable otherwise out of his own money. This can be done on a formal basis by creating a separate fund in which funds are deposited on a periodic basis, or simply cancel the purchase of insurance available and payment out of their pockets. Auto insurance is generally used to pay a high frequency, low severity of losses. These losses, if they are covered by insurance classic means having to pay a premium that includes charges of the company overheads, the cost of putting the policy on the books, acquisition costs, taxes on premiums, and contingencies. If this is true for all insured for small, frequent losses transaction costs May exceed the benefit of reducing the volatility that insurance other offer.
* No-fault is a type of insurance (automobile insurance in general) where policyholders are compensated by their own insurer, regardless of fault in the incident.
* The reinsurance is a type of insurance purchased by insurance companies or self-insured employers to protect against unexpected losses. Financial Reinsurance is a form of reinsurance that is used for the first capital management rather than transfer risk insurance.
* Stop-loss insurance provides protection against disasters or losses unpredictable. It is purchased by organizations who do not want to assume 100% of the responsibility for losses arising from these plans. Under a stop-loss policy, the insurance company becomes liable for losses that exceed certain limits known franchises.
* Social insurance can be many things to many people in many countries. But a summary of its essence is that it is a collection of insurance coverage (including the components of life insurance, disability insurance, unemployment insurance, health insurance and other) and retirement savings, that mandates participation of all citizens. By forcing everyone in society to be a police pay and bonuses, it ensures that everyone can become an applicant when or if he / she needs. En route, it becomes inevitably linked to other concepts such as the justice system and the welfare state. It is a complex matter which gives rise to enormous debate, which can be studied further in the following articles (and others):
o The welfare provision
o Social Security
o social safety net
o National Insurance
o Social Security (USA)
o debate on Social Security (USA)