An increasingly confirmed theory in recent decades claims that a product is purchased for what it represents for the customer, and not for what it is itself (subjective utility theory), the product is purchased for the service they provide, for the safety, for the comfort, for fashion, for what...

This paper aims to highlight the changes in the general insurance market in Romania in the past years. In the context of the financial and economic crisis, the Romanian insurance market recorded different siutations in recent years. It can be noticed that the growth rate slowed down compared...

Within the context of a competitive insurance market, this paper examines the impact of ambiguity on the behavior of buyers and sellers. Ambiguity is described through a probability measure on an extended state space that includes extra ambiguous states. It is shown that if insurers face the...

The relevance of insurance mechanisms use in company business activity requires working out the optimum policy of accounts receivable management for agricultural enterprises. In this connection, the article covers the possibilities of using insurance tools in management of accounts receivable...

The main feature characterizing the development of the insurance system is globalization of world insurance market through a process of gradual liquidation of economic and legislative barriers between states. European insurance market analysis will be made through gross written premiums,...

This paper had the objective of investigating the profitability of the Top 10 biggest Romanian Insurers based on the official audited data available at 01.06.2012 at the Insurance Supervisory Commission - the years 2001-2010. The financial indicator used for our inquiry was the commercial...

Insurance companies are facing major challenges that point to the need for control process and risk management. Risk management in insurance has a direct impact on solvency, economic security, and overall financial stability of insurance companies. It is very important for insurance companies to...

This article covers the main developments in the insurance market in the world. Insurance and reinsurance operations are carried out in a regulated framework that brings together supply and demand of insurance, insurance market framework known. The insurance market takes place vast majority of...

We consider a competitive insurance market with adverse selection. Unlike the standard models, we assume that individuals receive the benefit of some type of potential government assistance that guarantees them a minimum level of wealth. For example, this assistance might be some type of...