پژوهشنامه بیمه
سال سی و چهارم شماره 1 (بهار 1398)

The main purpose of this paper is to determine the amount of capital that can meet the conflicting expectations of both shareholders and the supervisor. In this regard, by using loss ratio data of four insurance companies (A, B, C and D) in period 1370-1396, supervisory capital requirement has calculated in the form of internal modeling, based on capital requirement calculation directive and Value at Risk method (parametric variance-covariance method). Then, based on cost of capital method and risk margin and cost-benefit approaches, optimal capital for insurance companies determined from point of view of both Central Insurance of Islamic Republic of Iran and the shareholders of insurance companies point of view. The findings indicate that the optimal available capital of insurance companies are approximately equal to 130,069, 35,478, 20,897 and 13,177 bilion IRR, respectively. Therefore, minimal and balancing solvency margin ratios were also estimated approximately 164.4%, 164.9%, 241.2% and 120.9% respectively, to meet expectations of both shareholders (capital return) and buyers of shares of these companies (cost of required capital) and Central Insurance of Islamic Republicof Iran (required capital), as the supervisor.

According to the article (8) of the group supplementary health insurance regulation No. 74, which insurance companies are required to comply with it from the beginning of 2011, insurance companies are allowed to take medical check-up and examination from the small groups with less than 50 members, and with respect to the result of inspections, reject some of the firm’s employees, or not to provide coverage for maternity cost and illnesses that have a previous history. The purpose of this study is to investigate the effect of this regulation on adverse selection in small firms by using group health insurance administrative data during the period of 2011-2016. In order to investigate about the hypothesis of the research, which states that the implementation of the article (8) of this regulation reduces the amount of adverse selection in small firms, we use regression discontinuity design (RDD) method. Results of this study indicate that the implementation of this law has no effect on the reduction of adverse selection in small firms. Furthermore, our findings show that this law motivates insured groups to increase the number of applicants for insurance up to the level of the threshold (50 employees).

In this research, in order to manage and control customers credit risk, a combination of two models, including discriminant analysis and data envelopment analysis, is used to detect the existence or absence of an overlap between the two groups. Using a separator hyperplane and assuming n viewing each one with k independent characteristic with the presence of fuzzy data, observations are categorized into two valid customer groups and invalid customers. Variables of this research are selected using the 6C method and using the Delphi method, among 17 selected indicators, 8 effective indicators are confirmed and entered into the research model. These indicators were used for 83 natural customers of a leasing company that benefited from the company during 2014 until 2016. The results show that each observation is definitely in the valid or invalid customer group and with the arrival of the new observation, its credit status is forecasted

Utilizing the methods of improvement, evaluation, prioritization and performance control, helps the organization to understand the level of achievement of goals. In this study, we have evaluated the performance of insurance companies by reviewing the literature and research history, identifying effective performance measures and then according to the expert opinions, 18 important criteria are selected. Then, using the grey scale decision making method, we prioritized the performance indicators of a company. This research is a descriptive-survey research in terms of the nature and method of the research and the indicators are ranked by fuzzy hierarchy analysis method. According to the results, the average of experts' opinions in the fuzzy Delphi method is 7 for 18 out of 23 proposed indicators which mean that 18 indicators are approved. In addition, the results show that investment risk is the most important factor in performance appraisal and must have the highest weight in the assessment. Investment risk, advertising and marketing expenses and using information technology are the most influential factor within financial, consumer affairs and internal processes and services criteria respectively, for insurance companies’ performance assessment.

Maritime industry is considered as one of the most important areas in global arena. Considering the fact that accidents are always threatening this industry, the risk of damages resulting from these incidents has led to the adoption of methods to compensate for these losses, in particular through the insurance industry. Despite the expansion of marine insurance industry, there are still a number of risks that ordinary insurance companies cannot afford to cover them, but the commonality of these risks has caused ship owners to establish some special clubs to be able to compensate for these losses and to protect their assets as much as possible. Nowadays, due to the efficiency of these clubs and legal requirements, shipping companies are forced to benefit from the services provided by these clubs. Islamic Republic of Iran has not been excluded from this rule due to the existence of a large fleet, and the wide activity of ports. Therefore, considering the importance of these clubs, this paper analyzes the nature, and characteristics of P&I Clubs. According to the writer, based on the existing laws, the registered P&I Clubs in the form of a nonprofit organization and what has happened about the only Iranian P & I Club (Kish P&I) is not correct and the right form can be a joint stock company.

The prohibition of Riba (interest/usury) in Islamic economics has led Muslim economists to design and introduce special financial institutions in order to avoid riba and to replace common and traditional financial institutions. During past four decades, among such endeavors to address the above objections, Muslim scholars have introduced an alternative insurance rooted in Feqh and based on the principle of co-operation. According to these scholars, traditional insurance can be replaced by Takaaful as an Islamic insurance. Takaaful has been designed to promote mutual cooperation  and fair distribution of profits/losses among all the contracting parties. So far, several contract models have been proposed based on Islamic financial regulations, such as Takaaful based on Wakaalah and Mudaarabah contract with some modifications. However, the new model, Takaaful based on Wadi’ah, is not as prevalent and common as above mentioned contracts. In this paper, an attempt is made to study Takaful based on the Wadi’ah Contract and to compare its regulations and compatibility with Shi'a jurisprudence rules.