Topic category: Business
Research paper should be on credit score as a risk assessment tool in the insurance industry. Some states allow it, some don’t. Some companies use it, others don’t.
Bottom line of the question is: Is someone’s credit rating indicative of their insurance risk?! And even if a credit score is statistically indicative of a person’s insurance risk, is it good public policy to allow insurers to use it?
Should someone who didn’t pay their bills, pay more than the guy with three accidents?
Furthermore, credit rating does not just take into account the financial risk of business. There is an excess of non-financial risks in business that needs to be taken into account, like terrorist risks, fiduciary & fidelity risks, loss of good will and reputation, etc, which while outside the realm of credit rating (takes into account debt repayment & liquidity rates,) are indeed of significant importance in the actuarial industry.
Thus, the main aim is to focus on non-financial risks & also financial risks, (covered by credit rating,) to show that a mere credit rating is not sufficient as risk assessment tool in the actuarial business.Click Here To Get More On This Paper!!!!
The objectives are:
• The importance of non-financial risks
• Post 9/11, the impending need for gaining anti-terrorist attack insurance coverage
• How to evaluate loss of goodwill & reputation under insurance clauses.
• Insurance risks against frauds, misrepresentations & white collar crimes against the company, especially arising from employees & other stakeholders.
Research paper should be on credit score as a risk assessment tool in the insurance industry. Some states allow it, some don’t. Some companies use it, others don’t.
Bottom line of the question is: Is someone’s credit rating indicative of their insurance risk?! And even if a credit score is statistically indicative of a person’s insurance risk, is it good public policy to allow insurers to use it?
Should someone who didn’t pay their bills, pay more than the guy with three accidents?
Furthermore, credit rating does not just take into account the financial risk of business. There is an excess of non-financial risks in business that needs to be taken into account, like terrorist risks, fiduciary & fidelity risks, loss of good will and reputation, etc, which while outside the realm of credit rating (takes into account debt repayment & liquidity rates,) are indeed of significant importance in the actuarial industry.
Thus, the main aim is to focus on non-financial risks & also financial risks, (covered by credit rating,) to show that a mere credit rating is not sufficient as risk assessment tool in the actuarial business.Click Here To Get More On This Paper!!!!
The objectives are:
• The importance of non-financial risks
• Post 9/11, the impending need for gaining anti-terrorist attack insurance coverage
• How to evaluate loss of goodwill & reputation under insurance clauses.
• Insurance risks against frauds, misrepresentations & white collar crimes against the company, especially arising from employees & other stakeholders.
Research question:
How far could credit rating be considered as a sound and reliable risk assessment tool in the current actuarial industry?
How far could credit rating be considered as a sound and reliable risk assessment tool in the current actuarial industry?
• Credit rating could be considered as a sound & reliable risk assessment tool in the current actuarial industry
• Credit rating can not be considered as a sound & reliable risk assessment tool in the current actuarial industry
• Credit rating may be considered as a sound & reliable risk assessment tool in the current actuarial industry
Research need to extrapolate insurance statistics & data info about companies who have used risk assessment tools & also those who have not done so
Case studies from Insurance companies in the U.S. in the private and public sector.
• Credit rating can not be considered as a sound & reliable risk assessment tool in the current actuarial industry
• Credit rating may be considered as a sound & reliable risk assessment tool in the current actuarial industry
Research need to extrapolate insurance statistics & data info about companies who have used risk assessment tools & also those who have not done so
Case studies from Insurance companies in the U.S. in the private and public sector.
The essence of credit scoring assessment approach must be linked to actuarial valuation, in that while considering fiscal risk assessment, elements like customer’s perspective, strategic goal realization, business procedures, & other non fiscal aspects, also need to be taken into account.Click Here To Get More On This Paper!!!!
Recommendations on how to address matters in future research studies of this genre on the fiscal aspects of credit ratings as an effective tool for risk assessment in the insurance industry.
Analysis and discussion:
Would stem from the deliberations of research and would offer a wide ranging and drivers view on this topic in order to make it all inclusive and free from material bias and bigoted views.
Results and outcome:
Would include the research writer’s own views and perspectives.
Recommendations
How to address matters in future research studies of this genre on the fiscal aspects of credit ratings as an effective tool for risk assessment in the actuarial industry.
Conclusion
Needs to present a clear cut and cogent result of research, either supporting or disapproving the above stated research.
Analysis and discussion:
Would stem from the deliberations of research and would offer a wide ranging and drivers view on this topic in order to make it all inclusive and free from material bias and bigoted views.
Results and outcome:
Would include the research writer’s own views and perspectives.
Recommendations
How to address matters in future research studies of this genre on the fiscal aspects of credit ratings as an effective tool for risk assessment in the actuarial industry.
Conclusion
Needs to present a clear cut and cogent result of research, either supporting or disapproving the above stated research.
Please make sure to bring some legal issues into the discussion. For example, are there privacy rights at issue here? Could for example, this information be used in a way that harms the applicant? Are their discrimination concepts at issue here? For example, it is against the law to discriminate against someone who has filed bankruptcy?
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