我国保险法[2002年10月28]第二条本法所称保险.pptVIP

Lecture Three： ;Learning objectives ;Main Contents;Insurance – what is it?; Definition of insurance ; Definition of insurance ;Financial definition Insurance is a financial arrangement that redistributes the costs of unexpected losses. Insurance involves the transfer of potential losses to an insurance pool, the pool combines all the potential losses and then transfers the cost of the predicted losses back to those exposed. Thus, insurance involves the transfer of loss exposures to an insurance pool, and redistribution of losses among the members of the poolby Mark S. Dorfman ;Financial Definition (Page 16 of textbook);Legal definition ;;Basic characteristics of insurance ;Pooling of losses;Pooling of losses;Pooling of losses;;Payment of fortuitous losses;Risk transfer ;Risk transfer ;Indemnification;Insurable Risk—what kinds of risks are insurable for a private insurer? ; six requirements of Insurable risk; six requirements of Insurable risk; large number of exposure units; Accidental and Unintentional Loss ;Determinable and measurable loss ;No catastrophic loss; Calculable chance of loss; Economically feasible premium;personal risks, property risks, and liability risks can be privately insured. most market risks, financial risks, production risks, and political risks are usually uninsurable by private insurers. The reasons are: First, being speculative, and difficulty to insure privately; Second, a great potential to cause catastrophic loss; Finally, calculation of premium is difficult. ; Adverse selection and insurance ; Insurance Versus Gambling;Ideal Requisites Examples (21 of text) ;;Types of Insurance;Types of Insurance ; Private insurance;Government insurance ;Social insurance programs in China;; Insurance functions ;Insurance functions;Insurance functions in national economy ;Benefits of insurance to society ;Costs of insurance to society ;Summary ;;Review questions