The optimal reinsurance problem is a classic topic in Actuarial Mathematics. Recent approaches consider a coherent or expectation bounded risk measure and minimize the global risk of the ceding company under adequate constraints. However, there is no consensus about the risk measure that the...

The endowment effect, status quo bias, and loss aversion are robust and well documented results from experimental psychology. They introduce a wedge between the prices at which one is willing to sell or buy a good. The objective of this paper is to address this wedge. We show that the presence...

This article outlines a transaction cost theory of ‘title insurance’ and analyses the role it plays in countries with recording and registration of land titles. Title insurance indemnifies real estate right holders for losses caused by pre-existing title defects that are unknown when the...

In the European Union there are rules regarding the determination of the reliability margin and warranty funds. Thus authorized insurers on general insurances and/or life insurances by rightful institutions from EU member countries, have to permanently have an available reliability margin...

Besides technical and investment risks, other risks can be identified, with own traits and implications that cannot be ignored. We speak about the risk of participation, the risk regarding guarantees in favor of tertiary, risk regarding loss because of tertiary, general business risk and...

The activity developed by an insurance company in reflected financially, synthetically in the receipts and expenditures budget, with is annually laid down.

Within the insurance process, the person who insures as well as the person who wishes to buy an insurance policy must control well enough the communication techniques. In deed, the insurance is grounded on communication. Various scientific researches showed that most people involved in a...

At present, the insurance business has become a major industry of national savings, the turnover within the insurance domain continues to increase and almost everything is taken into consideration through insurance terms. The share held by the insurance area within the gross domestic product of...