Rate Making in Insurance

  
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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Case Details:

Price:
Case Code : INS018 For delivery in electronic format: Rs. 100;
For delivery through courier (within India): Rs. 100 + Rs. 25 for Shipping & Handling Charges

Themes

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Case Length : 03 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India

Abstract:

These caselets focus on the difficulties that underwriters face in fixing a rate. Caselet 1 discusses the information required for fixing rates insofar as the Indian agriculture insurance sector is concerned. It also discusses the suitable method of ratemaking for agriculture insurance.

Caselet 2 examines the hardening of the insurance market after the terrorist attack on the World Trade Center, USA, and the problems faced by underwriters and actuaries to fix rates for terrorism covers. The caselet also stresses on the need for an organization to buy a policy from a highly rated insurer in order to improve its credit rating.

Issues:

» Understand the role and importance of underwriters in fixing a rate

» Discuss the hardening of the insurance market after the terrorist attack on the World Trade Center, USA

Keywords:

Underwriters, face, fixing, rate, information, fixing rates, Indian, agriculture, insurance, suitable method, ratemaking, agriculture, insurance, hardening, insurance market, terrorist attack, World Trade Center, USA, underwriters, actuaries, fix rates, terrorism covers, organization, policy, rated, credit rating

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