Damages Caps, Insurability, and the Performance of Medical Malpractice Insurance

This article uses the complete property‐casualty insurance files of the National Association of Insurance Commissioners from 1984 to 1991 to assess the effect of medical malpractice reforms pertaining to damages levels and the degree to which these damages are insurable. Limits on noneconomic damages were most influential in affecting insurance market outcomes. Several punitive damages variables specifically affected the medical malpractice insurance market, including limits on punitive damage levels, prohibitions of the insurability of punitive damages, and prohibition of punitive damages awards. Estimates for insurance losses, premiums, and loss ratios indicate effects of reform in the expected directions, where the greatest constraining effects were for losses. The quantile regression analysis of losses indicates that punitive damages reforms and limits were most consequential for firms at the high end of the loss spectrum. Tort reforms also enhanced insurer profitability during this time period.     

A Simple Model of Insurance Market Dynamics

Abstract

This paper constructs and studies a simple but realistic model of an insurance market. The model has a minimalist construction in the sense that the number of parameters defining it is strictly limited and the elimination of any one of them would destroy its realism. There are 11 essential parameters. Each of the parameters has a physical interpretation. Some determine competitive effects within the market, some barriers to entry, and so on. The effect of each on various aspects of the market is examined in the presence of simulated loss experience. The aspects of the market considered include stability of premium rates, profitability, and market concentration. Some of the parameters are capable of use as regulatory controls. Two parameters, in addition to the original 11, are explicit price controls. Despite its simplicity, the model displays considerably complex behavior. Some results are intuitive, but some are not. For this reason, regulatory controls need to be applied with great caution lest they induce perverse effects, possibly even the reverse of those intended. The effect of the parameters on market behavior is first studied in the absence of catastrophic events from the loss experience. Subsequently, the effect of a single such event is studied.     

Insurance Market Dynamics: Between Global Developments and Local Contingencies

Insurance markets have changed radically and deeply in the past twenty years. Deregulation, globalization of insurance institutions, intensified competition, electronic commerce, bancassurance, and the emergence of new risks are among the challenges faced by insurance markets. Although important global trends are reshaping insurance markets, the emphasis on globalization overlooks the local diversity of insurance markets worldwide. This article reviews the global developments and local factors affecting insurance markets and evaluates the advantages and disadvantages of globalization. Among the important global trends are the increasing sophistication of insurance products, the globalization of risk diversification through reinsurance, the emergence of mega-financial intermediaries, and the growing importance of supranational agencies such as the World Bank and the World Trade Organization. On the other hand, there remains significant heterogeneity among countries and regions that has a profound impact on insurance markets. Among the important local differences are political, legal, and cultural components as well as differences in financial markets, taxation, regulatory systems, insurer investment strategies, and insurance distribution systems.     

社会医疗保险与商业医疗保险

社会医疗保险和商业医疗保险是我国医疗保障体系的重要组成部分。两者的保险性质、对象、保障水平、实施方式等均存在较大差异。社会医疗保险是基础，商业医疗保险是补充.     

对海南保险销售渠道资源综合开拓利用情况的调查

保险公司正处于从规模扩张增长型向价值创造型转变的时期。保险销售渠道资源的综合利用是渠道资源的优化配置,对保险集团公司的价值创造贡献不可低估。通过对保险销售渠道资源的综合利用,既能使投保客户得到多元化金融服务,又能使保险集团公司实现成本最小、价值最大的目标。     

CEPA对港澳及内地保险市场的影响

CEPA的实施,更有利于加强内地与港澳地区在保险业方面的紧密合作,实施优势互补,互惠互利。     

The Dynamics of Insurance Prices

We develop a continuous-time general-equilibrium model to rationalise the dynamics of insurance prices in a competitive insurance market with financial frictions. Insurance companies choose underwriting and financing policies to maximise shareholder value. The equilibrium price dynamics are explicit, which allows simple numerical simulations and generates testable implications. In particular, we find that the equilibrium price of insurance is (weakly) predictable and the insurance sector always realises positive expected profits. Moreover, rather than true cycles, insurance prices exhibit asymmetric reversals caused by the reflection of the aggregate capacity process at the dividend and recapitalisation boundaries.     

Insurance in a Market for Credence Goods

We study the impact of variations in the degree of insurance on the amount of fraud in a physician‐patient relationship. In a market for credence goods, where prices are regulated by an authority, physicians act as experts. Due to their informational advantage, physicians have an incentive to cheat by pretending to perform inappropriately high treatment levels leading to overcharging patients. Our approach aims on the impact on changes in each, patients' and physicians' incentive structure when the proportional degree of coinsurance varies. It is shown that a higher coinsurance rate may lead to either less fraud in the market and a lower probability of patients searching for second opinions or more fraud and more searches.     

新农合和城镇居民医保对儿童健康的绩效研究

本文使用中国健康营养调查(CHNS)2006年、2009年和2011年的数据,分别研究新农合和城居保对儿童的健康绩效。从短期健康状况和长期健康状况两个角度选取了相应指标,并运用多元线性回归、Logit回归和分位数回归的方法进行了计量分析。结果表明:新农合和城居保对儿童的短期健康状况没有显著的改善作用,但城居保对儿童的短期健康绩效要优于新农合;新农合对儿童的长期健康有明显的改善作用,城居保对儿童的长期健康无明显作用。     

医疗卫生体制改革对我国商业健康保险市场潜力影响分析

2009年,我国新一轮医疗卫生体制改革拉开了序幕,其对商业健康保险发展的影响又将如何?本文分析了医疗卫生体制改革对商业健康保险市场潜力的影响机制,对我国当前商业健康保险潜力进行定量评估,并对此次新一轮医疗卫生体制改革的影响作了预测,最后就我国健康保险监管思路调整给出了建议。     

Informational Cascade in the Insurance Market

We develop an informational cascade model based on Bikhchandani, Hirshleifer, and Welch (1992) with applications to the insurance market. We investigate the existence of cascades and the effects of public information on cascades. We apply the results to insurance markets to explain how catastrophic events may lead to demand increases, how loss shocks may lead to insurance cycles, and how the heterogeneity of policyholders affects the choice of limited tort auto insurance in Pennsylvania.     

强制保险对机动车险市场的影响

即将实施的《中华人民共和国道路交通安全法》是我国第一部道路交通安全法律,保监会据此制定了《机动车第三者责任强制保险条例》,详细规定了机动车辆第三者强制保险的具体内容,将对商业保险公司的机动车辆产生重大影响。对此,各保险公司应加强制定费率规章,增设绝对免赔额制度和明确对机动车辆超载问题的处理标准。     

保险市场与资本市场应该"互动与双赢"

国务院在新近颁布的《关于推进资本市场改革开放和稳定发展的若干意见》中,明确表示“支持保险资金以多种方式直接投资资本市场,逐步提高社会保障基金、企业补充养老基金、商业保险资金等投入资本市场的资金比例。要培养一批诚信、守法、专业的机构投资者,使基金管理公司和保险公司为主的机构投资者成为资本市场的主导力量”。这些政策将对保险业以及金     

Market Pricing of Deposit Insurance

We provide an approach to the market valuation of deposit insurance that is based on reduced-form methods for the pricing of fixed-income securities under default risk. By reference to bank debt prices as well as qualitative-response models of the probability of bank failure, we suggest how a risk-neutral valuation model for deposit insurance can be applied both to the calculation of fair-market deposit insurance premia and to the valuation of long-term claims against the insurer.     

中国保险市场化秩序探讨

市场化既需要有宏观和微观基础的配合,又有着内在的秩序要求,如果在推进一部门生产或服务的市场化过程中,忽略了这种客观存在的秩序会使这种市场化难以长期为继。保险服务价值市场化已成为当前中国保险业发展的一种内在要求,但在实现中国保险市场化的过程中必须要关注和加强相关的宏观和微观的基础建设,尤其要从商品或服务的市场化秩序和规律出发,加以实施和推进,以求不断提升中国保险业的经营效率。     

台湾地区“全民健康保险”制度对癌症患者医疗保障的启示

癌症多年来占据疾病死因顺位榜首,不仅严重威胁居民的健康和生命,更让患者面临较大的医疗费用支付压力。本文介绍了我国台湾地区全民健康保险制度在癌症患者医疗保障方面的特点,包括通过免除个人部分负担等措施为癌症患者提供经济协助、为癌症终末期患者提供安宁疗护、实行卫生技术评估、开展全民健康保险信息化建设。台湾地区的经验为改善癌症患者医疗保障带来以下启示:提高现行社会医疗保险对癌症相关医疗费用支付的待遇;推动社区开展癌症的慢性病管理;利用卫生技术评估匹配癌症治疗新药及新技术的医保准入与定价;以信息化建设助力肿瘤诊疗。     

The Hungarian Insurance Market: Economic Transition in the Insurance Sector

This article analyzes Hungary's insurance sector as an important part of the country's economic transition from a centrally planned economy to a market economy. It details the historic economic development of the Hungarian insurance market from a state monopoly to a competitive insurance market where foreign-owned insurance companies have a dominant market share.     

医保医疗款会计核算方法探讨

现阶段,我国基本医疗保险覆盖率达95%,全民医疗保险的制度框架已经建立,医保业务收入占业务收入的实际比重越来越大,未来或将取代现金医疗收入成为医院医疗收入核算的主体,因此,对这部分医保医疗款如何更清晰地核算成为了医院财务管理工作中一个重要的环节,正确、清晰地对这部分医疗收入进行会计核算,会有利于加强医院对医保医疗款的管理。