...The Effects of Uninsured Driving on Motor Insurance Business Abstract Driving a motor vehicle without insurance cover is an offence that has an effect on motor insurance business. Despite the fact that Malta is, like other countries, affected by the issue of uninsured driving accidents, data on the subject is very limited. As a result, the effects of uninsured driving on insurance business and society are not fully known or understood. Likewise, the views of those concerned with the problem are not toally clear. This research study goes a long way to identify the effects of uninsured driving on the motor insurance industry. Local and European legislation concerning uninsured driving, together with primary data collection through questionnaires provide an enhanced understanding of uninsured driving from a local viewpoint. The incidence of uninsured driving in Malta appears to be increasing the burden of the costs is being incurred by honest policyholders and by insurance companies. The findings suggest that the public is not sufficiently aware of the consequences of driving without insurance and the local insurance industry does not have adequate measures to calculate the incidence rate of uninsured driving. In spite of the fact that it appears that the victims of uninsured driving are being well-served by the current compensation system, improvements can be implemented, especially with regards to how the system is funded. love and faith in me. Special...
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...Study Material for United India Insurance Assistant Officers Exam Powered by www.Gr8AmbitionZ.com your A to Z competitive exam guide United India Insurance AO Exam Study Material – Powered by Gr8AmbitionZ.com 1 m Introduction: What is insurance? co Well it simply means protection against future contingent losses. Insurance provides financial protection against a loss arising out of happening of an uncertain event. A person can avail this protection by paying premium to an insurance company. on Z. A pool is created through contributions made by persons seeking to protect themselves from common risk. Premium is collected by insurance companies which also act as trustee to the pool. Any loss to the insured in case of happening of an uncertain event is paid out of this pool. Insurance works on the basic principle of risk-sharing. A great advantage of insurance is that it spreads the risk of a few people over a large group of people exposed to risk of similar type. iti Definition: mb Insurance is a contract between two parties whereby one party agrees to undertake the risk of another in exchange for consideration known as premium and promises to pay a fixed sum of money to the other party on happening of an uncertain event (death) or after the expiry of a certain period in case of life insurance or to indemnify the other party on happening of an uncertain event in case of general insurance. -Insurance Act 1938 Gr 8A ...
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...SYNOPSIS TOPIC “Study of consumer awareness and perception towards health insurance portability.” INTRODUCTION Healthcare Insurance Market in India is unique and has a strong growth potential than the other insurance markets. Life insurance includes all risks related to the lives of human beings. IRDA (Insurance Regulatory and Development Authority) allowed to the customer to change their insurance company in case of dissatisfaction with company. Health insurance portability gives the flexibility to the customer and increase the fair competition among companies. The concept of Portability is new in India so the awareness and perception towards portability of customers depends on several factors. The study covers all the fundamental aspects of awareness and customer preference towards healthcare insurance portability in India. The objective of this study is therefore to examine some of the influences such as consumer awareness and enthusiasm, the role of social influences like advertising, services provided by company, groups and family in affecting consumer’s perception and evaluations of health insurance. RATIONALE OF STUDY • The main logic behind doing this study is that the concept of Health insurance portability is new in India so the awareness of that is not measure till now. • The second rationale of the study is that there are certain reason to influence the customer to change their service provider. • Another rationale of study is to understand the...
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...STUDY ON PUBLIC SPONSORED HEALTH INSURANCE SCHEMES IN INDIA Abstract The main of this study is to analyse the public sponsored health insurance models in India. The main aim of government sponsored health insurance schemes is to assist the BPL families in catastrophic health expenditure and thereby provide them access to quality health care. This report goes through the working procedure of health insurance schemes, especially Rajiv Aarogyasri (Andhra Pradesh), Vajpayee aarogyasri (Karnataka) and Chief Ministers Comprehensive health insurance scheme (Tamil Nadu) and analyse how far they succeeded in their respective aims. Introduction Health insurance as a measure to uplift the living standard and improve the status of the poor has become popular recently in India. The health care system in India was dominated by private sector, which accounts for about 60% of hospitalisation and 80% of outpatient treatment as per NSSO survey on health care (60th round). This can lead to huge out of pocket expenditure by households on health care. Even though the idea of health insurance was an earlier concept, to use this as a measure to ease the burden on health expenditure by public (especially the poor) became popular from last five-six years, when both central and State governments introduced various publically funded health insurance schemes. This is evident from the fact that there is a steep increase in population covered under insurance from 75 million in 2007 to 302 million in...
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... Date of Course: Spring 2014 Semester: August 2, 2014 Title of Assignment: Case Analysis: AFLAC Insurance Table of Contents Executive Summary In light of the current economic situation, employee benefits have become a major concern and are surfacing in many conversations of HR professionals. Human capital is by far an organization’s most valuable asset and at that a huge expense. In an attempt to keep cost low, to remain competitive, many organizations are forced to either reduce or completely disregard certain elements of their total rewards programs. This has not always been an easy decision, because on the flip side of the coin, the availability and quality of a company's benefits remains one of the major factors affecting an employee's morale, influences their decision to remain in the business and more so can determine whether or not a qualified employee accepts a job in the first place. What if a certain organization offered rewards that incurs next to nothing or absolutely no costs at all for the employees, and allows them to receive a benefit which cost couple of hundreds of dollars a year? At Aflac insurance company, the reality of this is attainable. Aflac has long understood the importance of rewarding employees with meaningful benefits, handsomely pays off. Not only does this strategy drive company success, it helps the company ascertain and achieve its goals. In her case study, author Sandra Reed outlines that Aflac believes that an organization can create...
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...Health Insurance Needs, Awareness and Assessment in the Bahraich District, Uttar Pradesh JANUARY 2008 This publication was produced for review by the United States Agency for International Development. It was prepared by Constella Futures, New Delhi ITAP is a three-year project funded by United States Agency for International Development under Contract No. GPO-1-01-0400015-00 beginning April 1, 2005_ The project is being implemented by Constella Futures in partnership with Bearing Point, Sibley International, Johns Hopkins University, QED, Urban Institute and Association of Reproductive Health Professionals (ARHP). For further information contact: Constella Futures 1 D-11, Parkwood Estates Rao Tula RamMarg New Delhi 1100 022 Health Insurance Needs, Awareness and Assessment in the Bahraich District, Uttar Pradesh JANUARY 2008 The authors' views expreseed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government Contents List of Tables List of Figures List of Abbreviations Executive Summary Chapter 1: Background and Methodology .......................................................... 1.1 Introduction... 1.2 Objectives of the Study ................................. 1.3 Study Design and Methodology ....................................................................... 1.3.1 Sampling and Sample 1.3.2 Study techniques ..............................................
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...Health Insurance Fraud By: WAHEED ALKHAMEES KHALED ALNAFEE Further Issues Hospital Administration PA 551 Master of Health and Hospital Administration (Parallel) King Saud University One:- Introduction Definition Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. Types of Insurance Services Insurance can take a number of different forms. Some of these types: Auto insurance Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as...
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...hospitals claim that the expensive malpractice insurance that health professionals are required to carry is a contributing factor to the rise in the cost of health care. (Connolly, Ceci 2004). Awards capping is not a new principle for Americans. Much like we hear about salary caps for baseball teams some states including Ohio have legislated laws that put a limit on the amount that a patient can receive in a lawsuit for pain and suffering. The law now states that largest amount that a plaintiff can win is 250,000. Although the amount for lost wages will not be capped, states would like to place a value on a person’s quality of life. Medical malpractice awards capping is not a solution to the rising costs of healthcare. There are two sides to every story. The issue of awards capping is no different. On one side we have medical doctors, hospitals and a conservative government concerned about rising healthcare and insurance costs. On the other we have families, children and health care advocates who claim that a capping system would not be influential in affecting prices for health care or malpractice insurance. The ABA considers capping not only to be a bad idea, but ineffective as well “The American Bar association strongly refutes any such contention …empirical date nor experience with tort reform efforts within the states in the past have shown any established link between limiting non economic damages and affordability of malpractice insurance policies (Caps on Medical Malpractice...
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...Status and Health Care Services in Germany With Comparison to the United States Petra Stewart HSM 310 Tammy Cagle February 20, 2011 Health care Insurance is one of the most debated topics in the country today due to ever rising costs and the lack of coverage for the patient. The are halth plans in other countries which work for their population that the United States could take a look at to enquire if leaning towards their plans would be a step into the right direction for the United States. Germany for example has a well working social system and private insurance system that provides excellent care of their population. Germany is able to provide good health insurance to any citizen in the country from the moment they are born. The Insurance Company has a liaison in the hospital that will prepare all needed forms and paperwork to give to the mother the day after she gives birth to her child. The only thing “Mom” has to do is sign the paperwork and continue to rest. The hospital and the insurance company are taking care of the all the paperwork and fine print for the new mother. From this point forward, the newborn citizen can be treated like every other citizen in the country. Tests are being completed and immunizations are given as needed. When the new family goes home, there are no worries about outrageous hospital bills, and battles the insurance company over coverage. Health Insurance in Germany is part of the Social Security System and works closely with the...
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...Of the approximately 257.8 million individuals currently living in the United States of America, every one of them has a need for effective, affordable and accessible health care coverage and services. Within the past thirty to forty years, the scope and cost of health care coverage and services has drastically changed, altering the manner in which health care was previously managed. There are several factors that have affected the cost of health care coverage over the course of the past two to three decades. One of these factors is the introduction and rapidly increasing enrollment in managed health care insurance plans. Managed care health insurance plans can, in most cases, help to alleviate the rising costs of effective medical coverage. Another important factor that has affected health care costs is the invention and implementation of new medical technologies. As prominent researchers and economic analysts have discovered, there is a distinct and direct correlat! ion between advancing medical technologies and rising health care costs. Medical innovation has been proven time and again to be an important determinant of health care cost growth. It would appear that managed care health insurance plans, which attempt to lower health care costs, and highly expensive new medical innovations and procedures are at cross purposes, pulling against one another in very different directions. Market-level comparisons have found the cost growth...
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...most of all, the victims of some very unfortunate accidents. Tort reform refers to laws passed on a state-by-state basis which place limits or caps on the type or amount of damages awarded in personal injury lawsuits. Those who advocate medical malpractice tort reform believe limitations should be set on the amount of damages a plaintiff or injured party can be rewarded by the court. These advocates usually include medical professionals and insurance companies. Their argument is that too many frivolous lawsuits lead to high malpractice insurance, the increasing cost of medical care and a burden on the taxpayers whose tax dollars absorb the extravagant litigation costs for these claims. They believe doctors will eventually be unable to practice medicine due to costly malpractice insurance premiums which may leave many Americans unable to obtain much-needed healthcare. In the past, as the rate of malpractice suits began to grow, so did the rate of malpractice insurance. This ended up having a dire impact on the medical profession. For one thing, many qualified doctors ended up leaving their practices and focusing more on preventative medicine. In other words, they felt compelled to order up costly tests, many of which that were not necessary, in an attempt to stave off lawsuits claiming misdiagnoses. The impact on the medical industry as a whole, raises the cost of medicine and insurance premiums for...
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...the undocumented aliens have limited access to health care due to lack of identity papers. This is due to the fact that they earn very low income and medical insurance coverage is lower for the undocumented aliens. As a result, they rely on the safety-net medical care providers such as social health centers as this centers continue to provide care for the undocumented aliens. This research also reviews the limitations and problems faced by the undocumented aliens in accessing health care and as a result the ploys they use to access medical care. The findings of this research show that they mostly rely on treating themselves with over counter drugs or in the cases of extremes they use unofficial networks to seek treatment. Also, it is evident that they would do anything to safeguard their cover from being discovered and these results in stress and psychological disorders. Another finding is that despite the healthcare reforms, undocumented aliens still have no rights to access health care compared to the US citizens. This research recommends designing of programs which focus on the issue of undocumented aliens being excluded from the medical care reform. Designing this reforms may involve adding more policies that favour the rights of the undocumented aliens to access medical care such as rights to have medical insurance cover. Also since the main fear of the undocumented aliens to access medical care is the fear of deportation, designing anonymous health care cards may be a solution...
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...carry out a rational debate on some of the most important issues in our societies. One of the crucial issues of today, as seen by Jimenez (2010) is the issue of health insurance and availability of quality health services to all the members of the society. In this area, the phenomenon of Obama Care has been one of the best examples of how ideology and politics can cause a lot of problems on the way towards establishing a just and more humane society. This essay is a fact-based analysis of the intentions behind and effect of the US health care reform of 2010, known under the name of Obama Care. The social problem that got its solution in the form of Obama Care was essentially the fact that the American health care industry, prior to the instatement of this law was in a deep crisis. Around 50 million people had no health insurance, which meant that in case they got sick they would have to cover all the costs of treatment, which can be measured in tens of thousands of dollars. Further, people with pre-existing conditions were disallowed from getting health insurance because there was a chance that the companies would not profit from them. Also, companies were able to cancel the contract with a person for almost arbitrary reasons in cases when people were in greatest need of health insurance (Obama Care Facts). All in all, the situation was catastrophic, and urgent change was needed. The Affordable Care Act, which was signed into law by Barack Obama in 2010, is essentially a piece of...
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...of care, as demonstrated by the Federal Employees Health Benefits Program (FEHBP) and Medicare Part D. 3. Consumer-driven health plans are viable alternatives to traditional plans, and consumers should have the option of choosing such plans. 4. Proper risk adjustment mechanisms can prevent adverse selection. 5. Migrating toward value-based payment systems will result in greater quality of care at lower costs, in part by incentivizing the health care industry to make great strides in offering integrated care, innovative treatments, and personalized medicine. ABOUT THE AUTHOR Kevin D. Dayaratna, Ph.D.Senior Statistician and Research Programmer Center for Data Analysis Over the course of the past several decades, federal and state lawmakers have proposed a variety of initiatives to reform America’s health care system and reduce costs. One idea has been to instill competition in the health care markets to enable the industry to operate more like a traditional market. Regrettably, the Congressional Budget Office (CBO) has remained unable to score the financial gains resulting from competition in health care. In fact, after being presented with...
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...methods section 3 Do charges incurred by a patient depend on the type of insurance the patient has? If so how? 5 Do charges incurred by patients depend on which doctor treats them? If so how? 5 Bibliography 7 Appendix 8 Executive Summary Hospital are required to bill for individual items or services provided to a patient. Patients admitted to hospitals are charged for their room, supplies, drugs, labs, x-rays, operating room time and other care. It is important to know that hospitals submit a bill to the insurance company for all the services provided to the patient and the payor determines the amount owed to the hospital based upon the insurance company’s contract with the hospital for specific services [ (Henry Ford Health) ]. Introduction The purpose of this case study is to understand the relationship between hospital charges for certain physicians and insurance carriers. Cost finding and cost analysis are the techniques of allocating data that we were provided as part of the case study. The information that we are going to use to analyze cost between Commercial Care and Manage Care insurance includes: * DAYS the number of days the patient spent in the hospital. * CHRGS is the total expenses charged to that patient. * PHYS is a code identifying the physician. * PAYOR indicates the type of insurance the patient carried. The fundamental items for this study focus on financial data related to normal...
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