By Michael Faure
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The purpose of the ebook is to supply an outline of chance administration in lifestyles insurance firms. the focal point is twofold: (1) to supply a wide view of the several issues wanted for danger administration and (2) to supply the required instruments and methods to concretely practice them in perform. a lot emphasis has been placed into the presentation of the publication in order that it offers the idea in an easy yet sound demeanour.
(Zu Versicherungsmathematik eleven. ) In diesem "höheren" Band der Versicherungsmathematik haben wir uns durch geeignete Stoffauswahl vor allem das Ziel gesteckt, die Ver sicherungsmathematiker davon zu überzeugen, daß wichtige technische Probleme der Versicherungspraxis nur durch Verwendung der \Vahr scheinlichkeitstheorie und Resultate aus der mathematischen Statistik gelöst werden können.
Monetary possibility and Derivatives presents an outstanding representation of the hyperlinks that experience built lately among the idea of finance on one hand and coverage economics and actuarial technology at the different. Advances in contingent claims research and advancements within the educational and useful literature facing the administration of economic hazards replicate the shut relationships among assurance and strategies in finance.
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Extra resources for Insurance and Expanding Systemic Risks (Policy Issues in Insurance, No. 5)
The alleged compensating benefit of the strict liability in those cases is therefore doubtful. 40 INSURANCE AND EXPANDING SYSTEMS RISKS No. 5 – ISBN 92-64-10289-2 – © OECD 2003 2. EXPANDING LIABILITY FOR SYSTEMIC RISKS? 2. Redistribution? One obviously should make a careful distinction between on the one hand the efficiency arguments, advanced in the Shavellian economic analysis on the one hand and distributional arguments on the other hand. So far we have focused on these efficiency arguments, which show that in particular cases there might be an argument in favour of strict liability.
Whereas economists stress the importance of tort rules as having an ex ante effect on prevention, traditional tort lawyers stress the ex post compensatory function of tort law. If one would exaggerate the difference between the traditional economic and the classic legal approach one would state that the economist is interested in prevention of accidents, whereas the lawyer is interested in victim compensation. However, as is often the case with generalities like these, reality is often more balanced.
111 In both cases one is confronted with a causal uncertainty, whereby the burden of proof is shifted to the enterprise. Since causation issues are very often difficult to prove with scientific certainty, this shift of the risk of proof will often be decisive for the outcome of the case. Legal systems other than the Dutch system have also been confronted with the consequences of causal uncertainty. In a Canadian case the Supreme Court of Canada rejected applying an apportionment of damages approach.