...UNIVERSITY Providence, Rhode Island ENVIRONMENTAL ANALYSIS: Automobile insurance Industry Course: MGMT 6800 Yimeng Zhang October 4, 2014 Automobile insurance Industry- Environmental Analysis The motor vehicle insurance, refers to a kind of commercial insurance that offer liable for compensation to life or personal injury or property damage caused by motor vehicles due to natural disasters or accidents. Car insurance is a kind of property insurance. In the field of property insurance, motor insurance belongs to the young categories of insurance. This is because the car insurance comes and develops with the emergence and popularity of the car and. 1. Strategically Relevant Factors in the Macro-Environment-PESTEL Analysis PESTEL analysis focuses on the six principal components of strategic significance in the macro-environment: political factors, economic conditions, sociocultural forces, technological factors, (natural) environmental forces, and legal/regulatory factors. These are the significance factors of one industry varies and management will focus primarily on those with the greatest effect on their company. The most important factor in the vehicle insurance industry is Economic Factors. a. Political and legal factors The Automobile Insurance industry does not receive any direct assistance from the federal government in the form of tariffs. However, the National Association of Insurance Commissioners (NAIC) provides a forum for the development...
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...INSURANCE AND RISK MANAGEMENT Submitted to Prof M.Vedavalli By Chintamaneni Rajesh PGDM-Finance Roll no 258/2014 Calculating how much life insurance you need is one of the most important financial decisions an individual will ever make. It should never be an isolated decision depending only on how much of a premium one can afford. Having said that, there are many ways in which one can determine how much insurance a person need. Some of the most popular methods for calculating insurance needs of an individual are Rule of Thumb In general, a rule of thumb is a simple guideline that can be easily applied to a situation. In terms of determining a need for life insurance, there are some rules of thumb that you might use to calculate a basic amount of insurance coverage for yourself. The rules of thumb are simplistic and do not consider many of the factors used in other methods of insurance-need determination. They are, however, easy to use and will provide a starting point for your insurance-need evaluation. Below are some common rules of thumb for determining amounts of life insurance coverage. a. Income Rule The most basic guideline for determining an insurance requirement is six to eight times your gross annual income. Under this rule, a person earning a gross salary of $60,000 should have between $360,000 and $480,000 of life insurance. Gross Salary x6 x8 $60,000 $360,000 $480,000 $80,000 $480,000 $640,000 $100,000 ...
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...Analysis on Thai insurance industry ------------------------------------------------- History The very first actual insurance contract, signed in Genoa in 1347. Contracts were signed by individuals, either alone or in a group. They each wrote their name and the amount of risk they were willing to assume under the insurance proposal. And then in 1688, the first insurance company was established as the widespread of insuring cargo while being ship throughout the maritime nations of Europe. It started at Lloyd’s Coffee House where merchants, ship-owners, and underwriters met to transact their business. And then Lloyd’s become one of the first modern insurance companies, Lloyd’s of London. Insurance in Thailand start around Ayudhya period when there is trade between Thai and foreigners. Foreign merchants brought marine insurance into Thailand which is first non-life insurance in Thailand. During King Rama the fourth era, there are many France department stores which some of them are representative of insurance company such as Netherlands Indea Sea and Fire Insurance Company, Ocean Marine Insurance Company, and Colonial Sea and Fire Insurance Company. And then in 1908, there is the first Act of Parliament about insurance in Thailand. For the life insurance, in Thailand, it was started in the era of King Rama the fifth by some foreign insurance companies. At first, nobody was interested in it so the business turned out to be an unsuccessful. After that, in WWI period, life insurance...
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...“Now that’s Progressive.” Progressive insurance is a company that provides insurance for cars, motorcycles, boats, commercial vehicles, RVs and home insurance through select companies. According to Progressive.com, Progressive insurance has been around since 1937 when Peter Lewis started the first drive-in claims insurance office. Today Progressive has grown to 25,000 employees in more than 450 offices throughout the United States. However, one iconic employee has revolutionized the way we look at insurance and her name is Flo. When Progressive customers see Flo, they look at her fun, delightful personality and make a connection that buying Progressive insurance can be an easy and fun thing to do. When looking at this Progressive insurance...
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...2015 Financial Analysis of Non-Life Insurance Sector in India New India Assurance Co. Ltd The Oriental Insurance Co. Ltd ICICI Lombard General Insurance Co. Ltd Financial Analysis of Non-Life Insurance Sector in India Executive Summary Insurance is not the sale of products, but servicing customers. It is a system, by which the losses suffered by a few are spread over many exposed to similar risks. Insurance is a protection against financial loss arising on the happening of an unexpected event. Insurance companies collect premiums to provide for this protection. A loss is paid out of the premiums collected from the insuring public and the Insurance Companies act as trustees to the amount collected. The very fundamental principle of spreading of the risk is actually practiced by the insurance companies by reinsuring the risks that they have insured. The opening up of the Insurance Sector to Private Companies has made available more products and world class service to Indian Customer. Some excerpts on Indian insurance sector are as follows: An attempt has been made in this paper to understand and discuss the various issues of the Indian General Insurance industry. In this regard, the group studied the performance of New India Assurance Co. Ltd., ICICI Lombard, and The Oriental Insurance Co. Ltd with the help of their financial statements. Also, keeping New India Assurance Co. Ltd as benchmark, the group made a comparative analysis using financial ratios...
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...COMPANY ANALYSIS SBI Life Insurance is a joint venture life insurance company between State Bank of India and BNP Paribas Cardiff. SBI owns 74% of the total capital and BNP Paribas Cardiff owns the remaining 26% of the capital. State Bank of India is the largest state owned banking and financial service company in India whereas BNP Paribas is a French multinational bank and financial service company with its global headquarters present in Paris. SBI Life Insurance has an authorised capital of ₹2,000 crores and a paid up capital of ₹1,000 crores. The company received a AAA/Stable/P1+ rating from Crisil Ltd in 2007. Vision: “To be most trusted and preferred life insurance provider” Mission: To emerge as the leading company offering a comprehensive...
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...Reasonable Individual Health Insurance Quote - The Best without Trade off In Quality While searching for the most reasonable individual health insurance quote it's imperative that you don't escape by simply the least quote. You need a low rate that likewise gives you much esteem. You can get low quotes that give you the quality you are after on the off chance that you shop well. In any case, on the off chance that you need to pay marginally more for the right scope then pay more. At times low quotes additionally offer awesome esteem yet at times they likewise trade off you. Such low health insurance quotes won't benefit you in any way since you're not getting the right scope for you. Here are steps that will help you get the best rate without...
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...U.S. Health Insurance Analysis: The Uninsured Background For much of its history, America was essentially made up of an uninsured population. Many companies hesitated to provide insurance because of the uncertainty of controlling costs. The Blue Cross/Blue Shield program was the first to attempt to tackle this issue. However in 1941, fewer than 10 million Americans were covered and most remained uninsured, paying their health expenses out of pocket (Barr, 2011). As of July 2017 the uninsured rate went up to 11.7% from 10.9% in the fourth quarter of 2016 (Luhby, 2017) and even with the individual mandate, there are still 24 million uninsured Americans. In the 1960s the two major events that impacted health policy were 1) expanding health...
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...1. HDFC Standard life insurance company ltd. HDFC Standard Life insurance company ltd is one of India's driving private life coverage organizations, which offers a scope of individual and group insurance solution arrangement. It is a joint venture between housing development finance corporation limited (HDFC Ltd). It is one of the India’s leading housing finance institution and the standard life assurance company, a leading provider of financial service from the united kingdom. IRDA (Insurance Regulatory and Development Authority) The Government of India has enacted the Right to Information Act, 2005which has come into effect from October 13, 2005. The Right to Information under this Act is meant to give to the citizens of India access to information under control of...
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...Review of the Children’s Health Insurance Program The Children's Health Insurance Program (CHIP) is a United States program developed in 1997 intended to cover uninsured children of families with incomes that exceed Medicaid guidelines, but cannot afford private insurance. Families who qualify for CHIP will receive medical coverage at a free or low cost fee. It is a federally funded, state run programs that allows states to set their own eligibility requirements and policies within broad federal guidelines. In some states, CHIP covers pregnant women, however, each state determines CHIP coverage, and works closely with its state Medicaid program (Centers for Medicare & Medicaid Services, n.d.). Healthcare coverage is critical for children...
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...The Health Insurance Portability and Accountability Act is a federal law signed by President Bill Clinton on August 21, 1996. It was created with the purpose of protecting millions of workers and members of their families in the United States. Puerto Rico which suffer from a medical condition. Long before this law came into force, these people were already having difficulties constantly obtaining medical coverage due to a medical condition they had before trying to obtain health insurance. However, the HIPAA law is based on establishing guidelines to protect the confidentiality and privacy of patient information and medical information. It requires health service providers to comply with five steps to comply with the privacy rule. Therefore,...
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...EXECUTIVE SUMMARY Justin Bell, assistant operations manager at Rockwater Insurance (RI), faces a difficult situation and must act quickly in order to prove his competence as a leader to his colleagues. Ideally, his decision must maintain the firm’s no-layoff history, encourage the tight-knit company atmosphere, and draw as little negative attention as possible. As a new employee in his grandfather's business, he must prove himself worthy of the position he was recently controversially given. His first challenge is dealing with the declining performance of veteran employee, Russell Campbell, a strong-minded subordinate with a significant amount of influence within the firm. To make his dealings even more complicated, Russell is a recent widow. Keeping this in mind, the best course of action would be for Justin to hold a meeting with his uncle and Branch Manager, Frank Bell. At this meeting, it would be advised that he: 1. Propose the idea that a new Assistant Sales Manager position be created. 2. Recommend himself for this role, due to the fact that he is well suited for this position. 3. Nominate Russell to be the new Assistant Operations Manager, dependent on the conditions that he: a. Take a minimum 3 weeks paid leave in order to recover to an adequate psychological state to work in a managerial role. b. Receive counselling, and obtain clearance by medical professionals that he is in sufficient condition. If he is not cleared, he will...
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...Most effortless Car Insurance Free Quotes Envision this! You are strolling down the commercial center looking at the assortment of rates for a case of apples. You scout the market by walking, specifically checking with all sellers who have apple carts in plain view. The whole procedure takes you generally around a hour as the market is spread out over an expansive zone. You go by those that quote a high rate and rationally check those that offer the aggregate that is closest to what you can pay. Toward the end of the practice you zoom into the merchant who offers the best quote for the best quality too. And afterward you pick your part. Something comparative happens when you search for the best free quote in car insurance. Give us initial...
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...Comparison websites help you gather quotes based on the personal information you provide. Once enough quotes are gathered, they are placed on one page, side by side in most cases, to make comparing them easier for you. Choosing to find cheap health insurance quotes online using a comparison website can allow you to experience money and time saving benefits. Many people have lost their jobs and are without health coverage during bad economic times. With the many changes also taking place in the world of health insurance, getting new policy can be quite frightening to many people. Some folks may have tried to continue the coverage they had through their employer, only to find that cobra coverage is extremely expensive. Buying your own policy outright is the best way to go. Learning about the plans offered by most insurers is extremely important before you make final choices about purchasing a policy. Most insurers offer three major types of...
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...The case of Crown Insurance Services brings to the light the many issues now associated with the changing business environment, the questions that arise whether current existing law regrading residence and source is no longer fitting and whether its application may be conducive for cases where misappropriation is intentional. This paper considers some of the questionable reasoning used today by the courts in determining residence and source on companies incorporated overseas. The case of Crown is not dissimilar to that of Malayan Shipping Co, whereby an Australian resident (Mr Sleigh) the majority shareholder of a taxpayer company incorporated overseas, was considered to be the managing director and agent who alone could decide upon the entering of contracts by the company in Australia. The company was found to derive its income and have tax residency in Australia “despite the directors being non-resident and meeting outside Australia” due to central management and control being held by an Australian resident. Similarly in Crown several indicators of absolute authority held by an Australian resident were presented, including “All of the proposals were prepared by Mr. Pattenden on his lap top” and “Mr. Pattenden prepared a group insurance proposal and prepared and issued a policy”, these statements seemingly present Mr. Pattenden as being ‘the brains behind operation’. The commissioner pursued this as it had been in Malayan shipping, however several factors prevented the...
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