An empirical study of material damage insurance rates for property risks.
Gradual liberalisation and deregulation of the insurance industry present both opportunities and threats. Opportunities exist in the form of improving the efficiency of the sector by providing coverage to the insuring public at the lowest possible cost. Threats exist in the form of competition being...
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sg-ntu-dr.10356-201992024-01-12T10:33:09Z An empirical study of material damage insurance rates for property risks. Goh, Chiaw Gek. Ashok, Goenka Nanyang Business School DRNTU::Business::Finance::Insurance rates Gradual liberalisation and deregulation of the insurance industry present both opportunities and threats. Opportunities exist in the form of improving the efficiency of the sector by providing coverage to the insuring public at the lowest possible cost. Threats exist in the form of competition being unproductive, with insurers undercutting one another in a bid to obtain more premium volume ignoring prudent underwriting norms. Without risk improvement to support low rates, reduction in rates could be dangerous as a major catastrophe may wipe out all reserves. It is therefore important that the insurance rates and incurred loss ratios for the fire business are studied in an attempt to determine whether rate reductions ought be creating adverse effects. We have examined the movement of rates in Singapore, Malaysia, Indonesia, Thailand and the Philippines during the years 1989 to 1995. It was hypothesised that the fire insurance rates in Singapore are the lowest while the incurred loss ratios are comparable, and that while the rates in all the five countries have decreased, the loss ratios have not increased correspondingly. Master of Business Administration 2009-12-14T09:06:40Z 2009-12-14T09:06:40Z 1997 1997 Thesis http://hdl.handle.net/10356/20199 en NANYANG TECHNOLOGICAL UNIVERSITY 220 p. application/pdf |
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DRNTU::Business::Finance::Insurance rates Goh, Chiaw Gek. An empirical study of material damage insurance rates for property risks. |
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Gradual liberalisation and deregulation of the insurance industry present both opportunities and threats. Opportunities exist in the form of improving the efficiency of the sector by providing coverage to the insuring public at the lowest possible cost. Threats exist in the form of competition being unproductive, with insurers undercutting one another in a bid to obtain more premium volume ignoring prudent underwriting norms. Without risk improvement to support low rates, reduction in rates could be dangerous as a major catastrophe may wipe out all reserves. It is therefore important that the insurance rates and incurred loss ratios for the fire business are studied in an attempt to determine whether rate reductions ought be creating adverse effects. We have examined the movement of rates in Singapore, Malaysia, Indonesia, Thailand and the Philippines during the years 1989 to 1995. It was hypothesised that the fire insurance rates in Singapore are the lowest while the incurred loss ratios are comparable, and that while the rates in all the five countries have decreased, the loss ratios have not increased correspondingly. |
author2 |
Ashok, Goenka |
author_facet |
Ashok, Goenka Goh, Chiaw Gek. |
format |
Theses and Dissertations |
author |
Goh, Chiaw Gek. |
author_sort |
Goh, Chiaw Gek. |
title |
An empirical study of material damage insurance rates for property risks. |
title_short |
An empirical study of material damage insurance rates for property risks. |
title_full |
An empirical study of material damage insurance rates for property risks. |
title_fullStr |
An empirical study of material damage insurance rates for property risks. |
title_full_unstemmed |
An empirical study of material damage insurance rates for property risks. |
title_sort |
empirical study of material damage insurance rates for property risks. |
publishDate |
2009 |
url |
http://hdl.handle.net/10356/20199 |
_version_ |
1789483226199228416 |