Insurance & Reinsurance Articles
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The Uniqueness of an insurance company’s chairman and the effect on the company should he/ she lacks a thorough and deep knowledge in the insurance industry
1. Lack of Understanding of Industry Fundamentals A chairman who lacks knowledge about insurance may not grasp fundamental concepts such as risk assessment, underwriting, and claims management. This ignorance can lead to poor decision-making regarding product offerings and pricing strategies. For instance, if the chairman… Read more
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Leading Saudi Arabian insurance company and its continuity in the future, why? And the fate of existing insurance companies
This article is addressed to existing businesses and new businesses seeking investment opportunities in the Kingdom and looking for a solid insurance company’s foundations to protect their investments. The Saudi Arabian insurance market is undergoing significant transformation, particularly with the establishment of the new Insurance… Read more
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Localizing Reinsurance and Its Effect
Reinsurance is a critical component of the global insurance industry, allowing primary insurers to manage risk by transferring portions of their liabilities to other parties. This process not only stabilises the financial performance of insurers but also enhances their capacity to underwrite new business. As… Read more
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What, When, Where and Why Insurance
Why to Insure Insurance is essential for protecting yourself and your family from financial hardships that can arise from unforeseen events. It provides a safety net that helps cover costs associated with accidents, illnesses, or other unexpected occurrences. The primary reasons to insure include: With… Read more
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Different Kinds of Fires Covered in an Insurance Policy
When it comes to insurance policies, particularly those related to property and home insurance, understanding the types of fires that are covered is crucial for policyholders. Fire coverage can vary significantly between different insurance providers and policies, but generally, there are several common categories of… Read more
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Misleading Analytical Tools
In the contemporary business landscape, data-driven decision-making is paramount. Managers rely heavily on analytical tools to interpret data, forecast trends, and guide strategic initiatives. However, these tools can sometimes be misleading, leading to erroneous conclusions and poor decision-making. Understanding how these misleading analytical tools operate… Read more
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The Relationship Between Insurance Cover and War
1. War Risk Insurance War risk insurance is a specialized form of coverage designed to protect policyholders from financial losses resulting from events associated with war, including invasions, insurrections, riots, strikes, revolutions, military coups, and terrorism. Standard insurance policies typically exclude these risks due to… Read more
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Statistical methods used by Reinsurance industry
The realm of reinsurance is inherently complex, necessitating the application of sophisticated statistical methods to manage risk, set premiums, and ensure the financial stability of both reinsurers and cedents. Below, I shall elaborate on several key statistical techniques employed in the reinsurance industry, detailing their… Read more
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Analysis of the Top 5 Insurance Companies in Saudi Arabia in 2023 with an insight to investors
Many aspects were taken into this analysis from financial stability and strength till customers’ satisfaction. The aim is to guide investors whether direct or service receivers. In 2023, the insurance sector in Saudi Arabia continued to evolve, driven by regulatory changes, technological advancements, and shifting… Read more
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Risk Retention Groups (RRGs)
A Risk Retention Group (RRG) is a type of insurance company owned and controlled by its policyholders. Read more
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Protection and Saving Insurance in brief
These types of insurance policies serve different purposes, with protection insurance focusing on providing financial support in case of death, illness, or disability, while saving insurance aims to accumulate wealth over time through regular contributions. Read more
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Alternative Risk Transfer Mechanisms
Alternative risk transfer mechanisms offer a valuable tool for businesses and individuals seeking to manage and transfer risk effectively. By providing flexibility, capacity, and tailored solutions, ART mechanisms can help to improve risk management, enhance financial stability, and potentially reduce costs. Read more
