Textbook for students of insurance that examines types of insurers, regulation, marketing, the underwriting process, ratemaking, claims adjusting, reinsurance, financial management, and strategic management.

"CPCU. The Leading Insurance Designation Program powered by The Institutes"--Cover.

This book provides a working knowledge of the fundamentals of business forecasting that can be applied in the real world regardless of firm size. It takes the reader through basic forecasting methodology, and then practical applications. All aspects of business forecasting are discussed making this book a comprehensive, valuable reference. What is unique about this book is threefold. First, this book is practically oriented. It avoids theoretical, rigorous, and mathematical discussions. It gets directly into how to use it, when to use, what it is used for, and what resources are required of it. Secondly, it incorporates the use of computer and information technology. Thirdly, the book goes much beyond just sales forecasting. It encompasses a wide range of topics of major importance to practical business managers, including economic forecasting, cash flow forecasting, cost prediction, earnings forecasts, and much more.

This textbook presents the fundamental economic dimensions of insurance companies and links them to managerial issues. Combining academic rigour and a strongly practice-oriented approach, it addresses both the competitive environment and the management of the insurance business. Further, it provides a general overview of insurance undertakings and technical topics are explained in depth. Filling an important gap in the market for textbooks on the insurance business, it is divided into four parts and 35 chapters. Part I (chapters 1 to 10) describes the fundamentals of the business, how the industry works, the Authorities and the regulations. It presents the insurance products (for life, non-life retail, and non-life commercial lines). Part II (chapters 11 to 17) explains the pricing and reserving for life and non-life insurance. Reinsurance business is also illustrated. Part III (chapters 18 to 25) describes business models in the industry and the organizational structures. The main processes of an insurance company (product development, underwriting, claims settlement, investments) are presented. Marketing and distribution are also described. Part IV (chapters 26 to 35) defines the financial statement and introduces IFRS principles. Solvency II calculation, ALM model, and Embedded Value are explained in detail. This part also describes management accounting, performance indicators, and the Business Plan in the insurance industry. The book offers a valuable resource for lower and upper undergraduate students, graduate students, professionals/practitioners working at insurance companies, insurance agents, brokers, bankers, and consultants.

Charts the social and cultural life of private insurance in postwar America, showing how insurance institutions and actuarial practices played crucial roles in bringing social, political, and economic neoliberalism into everyday life. Actuarial thinking is everywhere in contemporary America, an often unnoticed byproduct of the postwar insurance industry’s political and economic influence. Calculations of risk permeate our institutions, influencing how we understand and manage crime, education, medicine, finance, and other social issues. Caley Horan’s remarkable book charts the social and economic power of private insurers since 1945, arguing that these institutions’ actuarial practices played a crucial and unexplored role in insinuating the social, political, and economic frameworks of neoliberalism into everyday life. Analyzing insurance marketing, consumption, investment, and regulation, Horan asserts that postwar America’s obsession with safety and security fueled the exponential expansion of the insurance industry and the growing importance of risk management in other fields. Horan shows that the rise and dissemination of neoliberal values did not happen on its own: they were the result of a project to unsocialize risk, shrinking the state’s commitment to providing support, and heaping burdens upon the people often least capable of bearing them. Insurance Era is a sharply researched and fiercely written account of how and why private insurance and its actuarial market logic came to be so deeply lodged in American visions of social welfare.

Maximising performance in insurance operations is a practical guide to managing successful change programmes within the insurance industry. It shows large organisations how to become leading edge business performers using case studies and examples drawn from the authors' own unrivalled experience in the field. Key questions such as 'How much change is required?' are addressed and a structured programme tailored to the uniqueproblems of the insurance industry shows how organisations can move forward to maximise their potential with a minimum of risk.The book sets out the criteria for achieving operational excellence and each chapter is supported by a case study showing how various organisations have dealt with the challenges and there are useful comments and invaluableadvice from the practitioners involved.This book is essential reading for anyone involved in insurance or financial services and will be particularly useful for chief executives, operations directors and those in a line management role who have been charged with responsibility for securing the major benefits within their specific areas.

MANAGE YOUR RISK IN A MORE EFFICIENT WAY What if you could insure the risks of your business, reduce your out of-pocket expenses, and create another source of revenue? Sounds too good to be true, right? With The Business Owner's Definitive Guide to Captive Insurance Companies, Mr. Strauss shows that, by utilizing a captive insurance company, this is not only possible but also a lot easier than you'd imagine. As one of America's top corporate, tax, and risk management attorneys, Mr. Strauss provides readers with true insight on the key sophisticated planning techniques used by small business owners who implement captive insurance companies. You'll learn the fundamentals and history of captive insurance and how this technique can provide numerous benefits to your business. This book will provide you with the insight on how to: -reduce out-of-pocket expenses; -increase cash flow; -insure more of the risks of your business; -protect personal and business assets from lawsuits; and -select the appropriate manager for your captive insurance company. Creating a captive insurance company may sound daunting, but with Mr. Strauss's guidance you can navigate the legal maze and utilize this valuable strategy with ease. Don't miss out on crucial out-of-pocket savings, and create more liquidity in a more tax-efficient manner. Take steps today and reap the benefits of captive insurance!