...Having universal health coverage means that the country provides all their citizens with some form of health care and offers them financial protection. With the United States as an exception, every developed nation in the world has some form of universal health insurance provided to the people living in that country. Having a universal health care program typically benefits the spending cost of each person, maintains a healthy population, and keeps the majority of their citizens happy. Providing more competition for competitors helps keep health care more affordable in universal health care environments. If the citizens of a country have to pay health insurance, then that would ultimately mean that the health insurance companies would have...
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...Melanie Garcia English 015 5 September 2013 Signs of Danger Everyday I pace back and forth on the hard pavement on the edge of the pool with my red tube. Hot sun beaming down on my already burnt skin and tried faces scanning the water. All I look forward to on these summer days is lunch break and free swim time. I know I am safe if anything happens today, I’m a lifeguard, I’m trained to respond to life-threatening situations. Blow a long whistle really loud, point at the person in distress, and press the Emergency Stop button. I’m okay. I kept pacing back and forth doing my job, watching over people’s lives. On this afternoon I encountered a situation that will forever be imprinted in my memory. I remember vividly seeing a body on the mid-surface of the water, sinking. Looking at the body I waited for it to come back up or at least show me some signs of helplessness. Nothing. And I counted “One. Two. Three.” I blew on my whistle, pointed at the body, and went to hit the Emergency Stop button. I jumped right in and my heart was pounding. “Why isn’t he moving or struggling?” “Was this going to be my first unconscious body?” “...Please let them be okay” I thought to myself. As I was getting closer to the body I saw it keep sinking. The worst thoughts came into my mind. When I was right on top of it I left my red lifeguarding tube on the surface and dove straight under, grabbed the heavy man with both my arms, going under his armpits and pushed off the bottom of the pool...
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...people could become angry and/or violent towards you and your argument. 4. What is a discourse community? To what discourse communities do you belong? How does a discourse community help establish common ground for its members? A discourse community is a group of people who share a set of discourses, understood as basic values and assumptions, and ways of communicating about those goals. I belong to several discourse communities of which I don’t know how to label them. It helps to establish common ground for its members by having resources and peers interested in and sharing in your same beliefs and ideals and having peers to converse with to learn and research subject matter than you all enjoy and share interest in. 5. What is the universal audience? What are the...
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...* Liberty and Justice for All GEN/195 August 28, 2012 * I seem to use my reasoning skills (rationality) to determine what processes and systems should be put into place to assure fairness and justice for all the community (equality). Using reasoning skills and justice thoroughly explains why my personal preferred lens is the relationship lens. I seek to have relationships with others, especially the underprivileged. Great relationships are built while helping others who sometimes do not have the ability or resources to help themselves. * * My blind spot is overconfidence in a process. There is truth in this because I do overly trust in the “process”; the process of fairness. I do not like seeing or hearing of anyone being treated unfairly and it bothers me to find out that not everyone has what I consider to be valuable morals. Also, to find out that someone less fortunate or inadequate according to America’s standards (i.e.-financially, physically, or a minority) isn’t being treated fairly literally makes me angry on the inside. This ultimately causes me to fight harder for the process’s sake-fairness and equality for all; especially the underprivileged. * * It is comforting to know that my strength is justice. Seeking justice in the overall community is very important to me because it ensures that if everyone is all right in the community, they too will be more willing to reach out a helping hand as well. When the question is asked, “Am...
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...Improving Your Note Taking ▪ Effective note taking is one of the keys to succeeding in school. Students should devote a considerable amount of time reviewing information discussed during classroom lectures. It is very difficult remembering specific details from classroom lectures without good notes. These note taking strategies will help you to take better notes: ▪ Make clear and accurate notes Make sure to take legible and accurate notes since it is not uncommon to forget key details discussed in class after it has ended. Frequently, students comprehend the teacher's lecture, so they'll neglect to jot down specific details only to forget them later. Students who keep accurate notes can review them later to fully grasp key concepts during personal study time. Additionally, since during classroom lectures teachers frequently cover many topics, effective notes enable students to concentrate on specific topics. ▪ Come to class prepared Students properly prepared for class usually take better notes. Proper preparation includes completing assigned reading prior to class and reviewing notes from previous lectures. Students who do this can ask questions about confusing concepts and be prepared for new topics. ▪ Compare your notes To ensure your notes are as accurate and detailed as possible, compare them with the notes of other students after class is over. This is useful because your colleagues will frequently write down lecture details that you...
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...The idea of the “flipped classroom” is for a professor to basically put there lectures online for students to watch, and during regular class time they actually work on homework and assignments from the lectures that the students watched online. I think the flipped classroom is a good idea, because I know from personal experience sitting and listening to a lecture in class gets boring after awhile and people tend to not care or listen to what is actually going on. Then the professors wonder why so many students aren’t doing well in the class, and the reason probably is because they are bored and don’t feel like sitting for 50 minutes or an hour and a half listening to a teacher just talk. I actually wouldn’t mind the flipped classroom model because I am one of those students that will get bored sitting in class listening to a teacher talk, especially if it’s a class that I don’t find interesting, like history. It would be good to do interactive things in class so that we don’t have to hear a teacher talk for an hour. The only down side to this would be that some students aren’t going to watch the online lectures. I know for sure I wouldn’t sit at a computer for an hour and listen or watch a lecture. If teachers chose to do this they should at least make their lectures somewhat interactive even online or at least do it in parts so a student isn’t sitting there bored for an hour. I wouldn’t mind for some of my professors to take part in the flipped classroom model, it’s something...
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...LifeSystem The LifeSystem Suite has been developed over the last 10 years into a highly mature solution, currently supporting more than 20 million life insurance contracts in 36 installations across 16 countries globally. “eBaoTech's LifeSystem helps us to leverage our centre of competence for innovative insurance solutions in Luxembourg in different markets and distribution channels.” Swiss Life www.eBaoTech.com info@eBaoTech.com LifeSystem eBaoTech Product Offerings for Life Insurance Our offering for life insurers consists of our flagship LifeSystem Suite, supplemented by components that can be also installed separately like SalesPlatform, LifeClaims and others. In addition, we also offer specialized product Suites for Group Life and Life Insurance Wrappers based on the same architecture as LifeSystem. “eBaoTech’s SaaS offering based on LifeSystem is very useful for us to execute our vision and strategy especially in the economic conditions that is full of uncertainty and also very competitive insurance market. eBaoTech SaaS definitely will bring WanaArtha Life to different level of customer service where we can offer faster and more convenient service towards our customers. During installing period, the solid cooperation between eBaoTech team from Shanghai-Singapore-Indonesia with our dedicated team is the key of success.” Managing Director, WanaArtha Life End-to-End Suites eBaoTech LifeSystem GroupLife AssetLink Typical Sub-Suite Component Offerings ...
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...10.2 If casualty insurance companies provided fire insurance without any restriction, what kind of adverse selection and moral hazards problems might result? Adverse selection: information problem that occurs before transaction takes place Moral hazard: information problem that occurs after the transaction Insurance: acts as a “safety net” for failures. Effects of insurance: - boosts confidence (more willing to enter transaction) - causes more moral hazard behaviour - insurance allows them to take on more risks since gov’t will cover losses Purpose of restrictions: Two main reasons: - limits the coverage (not all accidents and causes are covered by insurance companies. Meet XYZ for coverage) - limits eligibility of coverage If we left out these restrictions, these problems will be even more prominent Adverse selection: high risk individuals are those who actively seek insurance (bc they know they will be covered) Moral hazard: changes your actions, provides less incentive to prevent fires, ie. car insurance = people don’t go the speed limit because they know they will be covered if something happens. 10.14 Suppose that Universal Bank holds 100 million in assets, which are composed of in the following ways: Desired Reserves: 10 million Excess Reserves: 5 million Mortgage Loans: 20 million Corporate Bonds: 15 million Stocks: 25 million Commodities: 25 million (extremely volatile) Do you think...
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...“system” is unequal in access, costs of services, and quality. One of the major problems with the healthcare system is that healthcare services are seen as a product under the market justice theory. Healthcare services are really not comparable to most products because they are a necessity for all people at some point in their lives. One thing that makes accessibility a difficult issue is that insurance is required for most to be able to achieve access. Insurance in turn requires a job that offers coverage that is worthwhile and affordable, however, many jobs do not offer worthwhile, affordable, or any coverage at all. This is also a problem when a person becomes unemployed. Another problem that inhibits access is the high cost of services for many people. While accessibility may not be an issue for some there is also the issue of inequality of the costs of services. Unlike many other countries where the prices of services are more transparent or equal in the U.S. many factors determine the cost of one particular service to an individual such as where the patient lives or what their insurance covers. This leads to the problem of those who are least able to afford it often being charged the highest prices. Those who are able to afford the services with no difficulty are often charged the least or end up over utilizing services. Cost of healthcare in the U.S. has become a major concern. Costs are difficult to control in such a fragmented system. Consumers of healthcare are also at...
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... Introduction Over the last years, there has been a debate on whether commercial and investment banks should be separated or not. Especially after the crisis in 2007 when taxpayers had to pay billion in the US to bail out the banks, the need for a “ring fence” around retail banking operations became urgent. Universal banks use the retail deposit for their investment operations which engage great risks. When their investments fail, the states have to rescue them. These mega banks emerged after the Great Depression when such a mergence became possible mainly because of the deregulation of western financial services. However, if global capital markets agree in a ring fence or total separation, it is a procedure that will take place over a period of years. In this project a brief review of the debate that takes place around this matter will be presented, mainly by stating some of the ideas that are commonly discussed. The Glass-Steagall Act and how we got here Recently President Obama proposed the separation of investment and retail banks, as it is believed that they were the main reason of the last financial crisis that started in 2007. Avgouleas (2010) points out that the mega banks were created after 1990’s due to the deregulation of the financial industry and they engaged great risk in their investment activities as the deposits (that were used for these purposes) were guaranteed by the government. Benston, G.J. (1994) points out that these mega banks became so large,...
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...fortune 500 company that was started by three brothers in 1955. The company is known for pioneering the supplemental insurance industry and was also the first insurance industry to offer a cancer policy. These major accomplishments all came about due to the Amos brother’s personal life experience with their father, whom after having worked several years and retired from a well-established company that offered great benefits, was still unable to pay his bills, after being diagnosed with cancer. As is the case with most families that have someone battling cancer, the surmounting cost of cancer treatment can put a severe strain on the family and cause the family to seek other means of covering health costs such as: savings accounts, loans, employers or friends. This ordeal propelled the brothers into wanting to help others and therefore, started their own health and life insurance company which is better known today as AFLAC. At the end of the first full year of operation, the company 6,426 policies and just over $388,00 in total assets (NATC,13). Since the 1950’s the company has seen significant growth due to it’s continued dedication to providing products that are needed and service that is unsurpassed. In 1964, Paul Amos introduced “cluster selling,” a virtually new concept in insurance marketing.”(NATC, 13) By the mid sixties the company was selling insurance in 11 states and covered 37 states by the 1970s. The company continued to grow through the 80s up through the present...
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...What is the primary function of an insurance company? How does this function compare with the primary function a depository institution? • The primary function of an insurance company is to provide protection from adverse events. Insurance companies accept the premium payments in exchange for compensation in the event that a certain specified, but undesirable, events occur. • The primary function of depository institutions is to provide financial intermediation for individual and corporate savers. By accepting deposits and making loans, depository institutions allow savers with predominantly small, short-term financial assets to benefit from investments in larger, longer-term assets. These long0term assets typically yield a higher rate of return than short-term assets. 2. What is the adverse selection problem? How does adverse selection affect the profitable management of an insurance company? • The adverse selection problem occurs because customers who are most in need of insurance are most likely to acquire insurance. However, the premium structure for various types of insurance typically is based on an average population proportionately representing all categories of risk. Thus, the existence of a proportionately larger share of high-risk customers may cause the premium revenue received by the insurance provider to underestimate the revenue needed to cover the insured liabilities and to provide a reasonable profit for the insurance company. 3. What are the similarities...
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...The Indian insurance industry has undergone transformational changes since 2000 when the industry was liberalised. With a one-player market to 24 in 13 years, the industry has witnessed phases of rapid growth along with extent of growth moderation and intensifying competition. There have also been a number of product and operational innovations necessitated by consumer need and increased competition among the players. Changes in the regulatory environment also had a path-breaking impact on the development of the industry. While the insurance industry still struggles to move out of the shadows cast by the challenges posed by economic uncertainties of the last few years, the strong fundamentals of the industry augur well for a roadmap to be drawn for sustainable long-term growth. The decade 2001-10 was characterised by a period of high growth (compound annual growth rate of 31 percent in new business premium) and a flat growth (CAGR of around two percent in new business premium between 2010-12), according to KPMG. There was exponential growth in the first decade of insurance industry liberalization. Backed by innovative products and aggressive expansion of distribution, the life insurance industry grew at jet speed. However, this frenzied growth also brought in its wake issues related to product design, market conduct, complaints of management and the necessity to make course correction for the long term health of the industry. Regulatory changes were introduced during the past...
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...A. Estimating Your Life Insurance Needs Alasan kita membelli asuransi jiwa ialah sebagai tavungan dan memberikan jaminan finansial kepada orang yang bergantung pada kita. Kita juga harus mengevaluasi kembali kebutuhan asuransi jiwa kita setiap 3 tahun sekali. Juga, menghitung kembaliu ketika kita mengalami perubahan yang signifikan atau adanya kelahiran seorang anak atau pembelian rumah. 1. Transition Fund Biaya yang harus dibayar saat kematian dan segala utang yang mau dilunasi saat tersebut. a. Funeral and Burial Costs Harganya dapat bervariasi, tergantung style kita. b. Estate Taxes Pemerintah mungkin dapat memungut pjak atas warisan kita. c. Probate Costs / Biaya Surat Pengesahan Hakim Yakni biaya validasi surat wasiat kita dan warisan kita. Biasanya, probate costs sekitar 45 dari nilai asset yang didistribusikan melalui proses surate pengesahan hakim. d. Uninsured Medical Costs Tergantung kualitas coverage asuransi kesehatan kita. e. Outstanding Loan Due Nilai pinjaman yang ingin kita lunasi saat kematian kita. 2. The Family Maintenance Fund Menghitung biaya bulanan untuk keluarga yang bergantung a. Mengalikan take-home pay dengan persentase yang sesuai. Kemudian, kita mengurangkan dari take-home pay, sehingga menghasilkan biaya yang dibutuhkan untuk melanjutkan hidup bagi surviving members. ...
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...THE UNIVERSITY OF NOTTINGHAM Centre for Risk & Insurance Studies Privatization of the Insurance Market in India: From the British Raj to Monopoly Raj to Swaraj Tapen Sinha CRIS Discussion Paper Series – 2002.X Privatization of the Insurance Market in India: From the British Raj to Monopoly Raj to Swaraj by Tapen Sinha, Ph.D. ING Comercial America Chair Professor Instituto Tecnológico Autónomo de México Mexico City, Mexico and Professor, School of Business University of Nottingham, UK tapen@itam.mx, tapen@nottingham.ac.uk Abstract We examine the institution of insurance in India. Over the past century, Indian insurance industry has gone through big changes. It started as a fully private system with no restriction on foreign participation. After the independence, the industry went to the other extreme. It became a state-owned monopoly. In 1991, when rapid changes took place in many parts of the Indian economy, nothing happened to the institutional structure of insurance: it remained a monopoly. Only in 1999, a new legislation came into effect signaling a change in the insurance industry structure. We examine what might happen in the future when the domestic private insurance companies are allowed to compete with some foreign participation. Because of the time dependence of insurance contracts, it is highly unlikely that these erstwhile monopolies are going to disappear. Acknowledgement: I would like to thank Rebecca Benedict and Samik Dasgupta for their input in...
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