This paper addresses the credit report, including how and why a credit report is important and exactly how the credit report can impact the individual.
1,900 words (approx. 7.6 pages), 4 sources, 2002, $ 71.95
Abstract This paper addresses the credit report, including how and why a credit report is important and exactly how the credit report can impact the individual. This paper provides information first on the appropriate steps necessary to acquire a full credit report, and the reasons the average consumer might wish to do so. This paper then investigates the scams that accompany credit and credit reports in order to better inform the reader of the problems that might occur in acquiring a credit report through non- official channels.
Tags: BUSINESS / FINANCE, ECONOMICS, ACCOUNTING, the credit report
Abstract This paper discusses the advantages and disadvantages of credit risk management software as a risk mitigation tool. The author explains the use of credit-scoring models. The paper demonstrates the application of credit-scoring to CRM software.
From the Paper "For more than four decades, creditors doing business with consumers have been using credit-scoring models to determine if applicants are good credit risks. Information about an applicant's credit history including the amount of debt they have outstanding their bill-paying history any history of late payments and the number of times they have been sued or placed for collection are all factors that CRM programs use to establish an appropriate credit limit for a consumer credit applicant. Fay Hansen in "Business Credit" reports that a few years ago ....."
Abstract This paper discusses credit derivatives in modern banking. The paper gives a brief outline of credit derivatives, and further discusses the concept of how they function within the global market. The paper examines occurrences within banking in relation to credit derivatives and how these events have affected the worldwide opinion regarding the limitations of these transactions. The paper draws conclusions from the research provided, and offers opinions for the future of credit derivatives in banking.
From the Paper "When the economy is stable and interest rates are low, banks traditionally struggle for profits because there is not a significant need for loans from consumers or big business. In these moments of financial peace, banks needed methods that would ensure they could survive independently on the downfall of the economy in order to remain solvent. Credit derivatives were born of such concern, allowing bankers, and others, the ability to reduce their risk by selling risk to other parties. Risk was still maintained by lending institutions, but the prospect of intense profit margins was the deciding factor for most banks to begin to participate in credit derivatives. The research will demonstrate that bank use of credit derivatives has been a recorded success, and that credit derivatives continue to grow across the globe as a boom to the banking industry. However, limitations do exist connected with credit derivatives."
This well-researched paper defines and details the advantages and disadvantages of two particular forms of insurance currently available in America: Re-insurance and treaty re-insurance.
Abstract The writer of this paper defines re-insurance as a basic method of underwriting insurance. Re-insurance falls mainly into two categories, the first being facultative re-insurance and treaty re-insurance, which are both handled by two separate companies. This paper details how both methods of insurance operate as well as how insured Americans are directly affected by these types of policies. This paper also discusses the individual risks involved with these forms of insurance as well as how downsizing and mergers have impacted the industry creating a shortage of qualified underwriters.
From the Paper "One area where Facultative Re-insurers are concentrating their efforts both in training and research is in the environmental area. Here the losses from just one storm, or earthquake or any other natural disaster is very costly for all concerned. While this effort continues and as clean up after the fact of a disaster we're seeing such improvements as "storm resistant" construction, rapid rescue techniques, and many other improvements all precipitated by the Facultative Re-insurance Industry. And there are constant changes being made in order to reduce costs and improve life in general for the insured public."
Tags:insurance, health, environment, coverage, american, re, munich, group, risk
Highlights the main reasons why membership in the Employee Federal Credit Union (EFCU) is shrinking and why individuals are opting for commercial banking when credit unions offer loans at lower rates.
Abstract This research report addresses the main reasons why EFCU has encountered a decline in membership and what is prompting people to borrow from other financial bodies. In order to better understand these reasons, however, the paper first looks at why people are initially attracted to credit unions instead of commercial banks and the principles that guide the growth of credit unions. The report is based on a survey of EFCU members, which was conducted through mailed questionnaires.
From the Paper "This has been a major setback for most federal credit unions including EFCU the number of its members has decreased and many existing members prefer commercial banks to meet their loan requirements. While the governmental regulations are certainly playing a dominant role in poor performance of credit unions in last few years, we must not forget how banking industry has persistently forced the government to develop such legislation. The worst part is that due to this persistent challenges, market share of credit unions came down to 12% in 1995 from 13% in 1980 while that of bans increased from 50 to 56% during these fifteen years."
Abstract This paper explains that the question of whether or not the presence of "utmost good faith" in marine insurance is equitable to either the insurer or the insured is a question of global debate, because, although it is codified in very old law, the advent of containerized freight has brought the issue to the forefront in several nations. The author points out that the investigation done by an Australian expert provides a clearer picture of these problems of the nation's position concerning the Marine Insurance Act and strongly suggests that the entire Marine Insurance Act be removed from the realm of the English Common Law and placed under the control of the United Nations. The paper relates that the inevitable question of precisely who does suffer the most--the insured through their ignorance, negligence or outright fraud or the insurers and the re-insures for failing to use protective technology and instead simply make the premiums higher to cover their actuarial losses; however, the real cost is borne by the citizenry of the world as another hidden tax.
Table of Contents
Thesis Statement
The History and Background of the Law
The World Wide Effects upon Nations
The World View and Conclusions
From the Paper "In his discourse concerning the Law of Marine Insurance - Utmost Good Faith at least in the sphere of Australian trade is having far too many losses therefore placing an unfair burden upon the insurers where perhaps the insured are quite possibly at fault. Again there are copious court cases cited in this section. It is this section of the law too that the Chancellor relates the United Nations efforts at curbing and enforcing the Utmost rules, but they have fallen miserably short of their goal."
Abstract This paper provides an extensive review of the recent literature relevant to pricing credit derivatives. The paper discusses new developments in credit derivative pricing and explains that these new developments are those innovations that expand or clarify the existing variations models for credit derivatives.
From the Paper "The purpose of this study is to review new developments in the pricing of credit derivatives. Credit derivatives, essentially insurance against credit risk through the structuring of and trading in of synthetic financial assets, are little more than a decade old. Thus, a skeptic might state that almost anything that occurs in the credit derivative market reflects a new development. The perspective providing the focus in this study however is that new developments are those innovations that expand or clarify the..."
An examination of State Children's Health Insurance Plan (S-CHIP); the legislation that allows states in the US to provide health insurance to more children from working class families.
Abstract This paper discusses the problems of the number of people in the United States who cannot afford health insurance. It specifically looks at the effects of under-insurance or lack of insurance for children. The paper then discusses and analyzes S-CHIP (State Children's Health Insurance Plan), the legislation that allows states in the US to provide health insurance to more children from working class families. The paper contains tables.
Table of Contents:
Introduction
Methodology
Results
Discussion
Conclusion
From the Paper "The S-CHIP program has been very successful in helping solve one aspect of the healthcare problem, by providing health insurance to financially disadvantaged children who live above the poverty line. In states with vigorous S-CHIP programs, a huge number of people take advantage of S-CHIP. Other states do not pursue S-CHIP with the same vigor, and have reduced S-CHIP participation. However, every state but Tennessee shows significant numbers of children being assisted by the S-CHIP program. Moreover, state governors and legislators are very supportive of the S-CHIP program, because they have seen the real differences it has made in healthcare access for the financially disadvantaged. In fact, many states have sought to expand their state's S-CHIP eligibility requirements, because of the public response to S-CHIP availability. It is clear that S-CHIP has met its legislative goals and should be continued."
Abstract This paper discusses the health care crisis in the United States. The paper notes that health care costs have been rising beyond the rate of inflation for quite some time, and many Americans are starting to realize the severity of the issue. The paper examines the causes of the problem and discusses solutions that will help to minimize it. To analyze the situation, the paper looks at economic literature and then applies this economic framework to the current policies that affect the health care market. The paper continues by using the same framework and analyzes alternative policies and institutions and recommends a set of policies to best address the issue. The paper is illustrated with graphs and tables.
Outline:
Introduction
Literature Review
Class Probability
Insurable and Uninsurable Risks
Sub-Classification of Risks
Moral Hazard of Insurance Analysis of Current Policies and Institutions
The AMA
Moral Hazard of Health Insurance and the Problem of Sub-classification
Incentives to Use Health Insurance Public Health Insurance Analysis of Alternative Policies and Institutions
Limiting the Market Power of the AMA
High Deductible Health Insurance Health Savings Accounts
Conclusion
From the Paper "The purpose of insurance is to pool a particular risk among a group of individuals so as to reduce the amount of risk facing any one individual. Risk can be defined as the uncertainty about a particular negative outcome occurring in the future. If the perceived risk is financial in nature, then an individual may choose to pay a fraction of the cost into an insurance pool, thereby eliminating the possibility of incurring the cost in its totality."
Tags: income-elastic, economic, framework, a, risk, based, insurance, pool
Abstract This paper examines the issue of foreign tax credit for corporations under IRC section 901(b)(1). The paper first explains foreign direct investment in order that we may understand the relevant issues. The paper then gets into the specifics regarding tax credits and issues where these foreign investment companies are concerned.
Outline:
Chapter One - Introduction
Chapter Two - Review of Case and Ruling Issues
Chapter Three - Methodology
Chapter Four - Case and Ruling Analysis
Chapter Five - Summary, Conclusions, and Recommendations
From the Paper "The first limitation that is important to note is that there is so little information about the case study subject in question - the foreign tax credit. While there is indeed some information, much of it comes from laws and rulings as opposed to studies and research articles. With that in mind it is important to note where the information that is being collected for the study of this issue is coming from. There is no reason not to use the information that is provided by others, but making sure that one is aware of where it comes from and what potential consequences that could have is of utmost importance when it comes to looking at the limitations that can be found in research. Making sure that the most accurate data available is used is significant and when something cannot be verified it should be pointed out in the study that it cannot be verified so that there is no further confusion as to whether that piece of information is legitimate or not for the study."
Abstract This paper examines the issue of arbitration and insurance claims. It begins by explaining a series of basic insurance terminology and then presents a history of the practice of insurance arbitration. The writer then explains the process of arbitration and insurance claims and how the process has changed over the years.
From the Paper "Almost thirty years ago, the Committee on Insurance Arbitration recognized the insurance industry's need for a Property Arbitration Forum. Today, its' successor committee is the largest system of its kind in the world. There was clearly a need to create a legal entity to administer the arbitration programs, and this concern led to the creation of a not-for-profit corporation that replaced the Committee on Insurance Arbitration. The Committee on Insurance Arbitration incorporated in 1981, under the corporate name of Insurance Arbitration Forums. Insurance Arbitration Forums remained the corporate name until 1986, when the Board of Directors eliminated the word "Insurance" from the name. This change reflected the expansion of Arbitration Forums' programs to include arbitration situations outside the insurance arena, although these additional mediation and arbitration services continued to fulfill the needs of the insurance industry. Because Arbitration Forums are intended to provide an objective and neutral administrative service, Arbitration Forums are considered to be respected and efficient providers of arbitration services. Arbitration is a means of settling controversies without resorting to litigation. Agreements to arbitrate are generally put into writing, and signatories are contractually obligated to arbitrate."
Abstract T|his paper explains the way to detect automobile insurance fraud and points out methods of investigating. The author relates sentencing for convicted fraud offenders. The paper reports the increasingly costly problem of auto insurance fraud.
From the Paper "Americans pay an exorbitant amount of money each year to insure their vehicles for which they have also paid handsomely. ... Americans paid an estimated ... billion for auto insurance. Why are costs so high? One factor that plays into the soaring rates of automobile insurance is the dramatic increase in car insurance fraud. Consider this scenario. A typical driver is driving through town innocently minding their own business on the way to ..."
Tags: automobile insurance fraud, car insurance, fraud, schemes, fraudulent, identity theft, claimants, insured, insurance company
Abstract This paper focuses on the 1993 flooding of the Mississippi basin, one of the costliest disasters in U.S. history which resulted in catastrophic insurance property claims. This paper explores the various homeowners insurance policies that did not provide coverage as well as the National Flood Insurance Program which underwrites all flood insurance in the U.S. This paper also discusses the role of the Federal Emergency Management Agency in aiding residents after a natural disaster.
From the Paper "In 1927 an earlier flood occurred in the lower Mississippi Valley, covering twenty-six thousand square miles of land in as much as fifty-seven feet of water. In response to this natural disaster, the federal government, through the Army Corps of Engineers, dredged the channel, changed the course of the river in places, and built nearly seven thousand miles of levees in an effort to prevent future disasters. But the government's steps to flood prevention sixty-five years earlier were no match for the Mighty Mississippi and the sustained rains the summer of 1993 brought with it."
Abstract Certain people have suggested that we cannot do anything about the existence of unemployment or even high unemployment, which is why unemployment insurance exists. However, even though globalization has had something to do with putting people out of work, greater blame can be laid on domestic policies such as a poorly designed unemployment insurance program. In response to this problem, the best policies are the ones that reduce the cost of hiring workers and remove impediments that restrict business from expanding. Also, rather than promoting the policy of unemployment insurance, the government should focus on the training and education of workers so that they can perform effectively in the global environment if such policies are to have maximum impact.
Abstract The paper discusses a plan to create a national health insurance system. This system would have a reasonable but sufficiently high co-payment to instill responsibility and would be means-tested so as to protect the truly poor and assure that they get the health care they need. The paper examines the issues of developing a national health insurance system and compares the health care that is provided in the United States with other countries that already offer some form of national health insurance. The proposed plan would avoid some of the problems people fear might develop while offering the benefits people need.
From the Paper "In the effort to make the individual exhibit greater responsibility for his or her own health and so to promote more preventive care, the only system that has a good chance of working on a national basis is a form of national health insurance. HMOs work to minimize costs and to reduce overuse of the health care system, but the emphasis is on denying service and denying expensive procedures, many of which are badly needed and which can create higher future costs when denied in a timely manner. A national health insurance system with a reasonable but sufficiently high co-payment to instill responsibility, means-tested so as to protect the truly poor and assure that they get the health care they need is the best approach. Other countries already provide some form of national health insurance and manage to do so at a lower cost than the U.S. ...."
