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This paper compares solvency capital requirements under Solvency I and Solvency II for a sample mid-size insurance portfolio. According to the results of a study, changing the solvency capital regime from Solvency I to Solvency II will lead to a substantial additional solvency capital requirement that might represent a heavy burden for the company's shareholders. One way to reduce the capital requirement under Solvency II is to increase reinsurance protection, which will reduce the net retained risk exposure and hence also the solvency capital requirement. Therefore, this paper proposes an extended reinsurance structure that, under Solvency II, brings the capital requirement back to the level of that required under Solvency I. In a step-by-step approach, the paper demonstrates the extent of solvency relief attained by the insurer by applying different possible adjustments in the reinsurance structure. To evaluate the efficiency of reinsurance as the solvency capital relief instrument, the authors introduce a cost-of-capital based approach, which puts the achieved capital relief in relation to the costs of extending the reinsurance protection. This approach allows a direct comparison of reinsurance as a capital relief instrument with debt instruments available in the capital market. With the help of the introduced approach, the authors show that the best capital relief efficiency under all examined reinsurance alternatives is achieved when a financial quota share contract is chosen for proportional reinsurance.

Banking Law --- Capital Requirement --- Debt Markets --- Finance and Financial Sector Development --- Hazard Risk Management --- Insurance & Risk Mitigation --- Insurance Law --- Insurance Portfolio --- Non-Life --- Private Sector Development --- Reinsurance --- Risk Management --- Solvency I --- Solvency II

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Machine learning is a relatively new field, without a unanimous definition. In many ways, actuaries have been machine learners. In both pricing and reserving, but also more recently in capital modelling, actuaries have combined statistical methodology with a deep understanding of the problem at hand and how any solution may affect the company and its customers. One aspect that has, perhaps, not been so well developed among actuaries is validation. Discussions among actuaries’ “preferred methods” were often without solid scientific arguments, including validation of the case at hand. Through this collection, we aim to promote a good practice of machine learning in insurance, considering the following three key issues: a) who is the client, or sponsor, or otherwise interested real-life target of the study? b) The reason for working with a particular data set and a clarification of the available extra knowledge, that we also call prior knowledge, besides the data set alone. c) A mathematical statistical argument for the validation procedure.

History of engineering & technology --- deposit insurance --- implied volatility --- static arbitrage --- parameterization --- machine learning --- calibration --- dichotomous response --- predictive model --- tree boosting --- GLM --- validation --- generalised linear modelling --- zero-inflated poisson model --- telematics --- benchmark --- cross-validation --- prediction --- stock return volatility --- long-term forecasts --- overlapping returns --- autocorrelation --- chain ladder --- Bornhuetter–Ferguson --- maximum likelihood --- exponential families --- canonical parameters --- prior knowledge --- accelerated failure time model --- chain-ladder method --- local linear kernel estimation --- non-life reserving --- operational time --- zero-inflation --- overdispersion --- automobile insurance --- risk classification --- risk selection --- least-squares monte carlo method --- proxy modeling --- life insurance --- Solvency II --- claims prediction --- export credit insurance --- semiparametric modeling --- VaR estimation --- analyzing financial data --- n/a --- Bornhuetter-Ferguson

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Machine learning is a relatively new field, without a unanimous definition. In many ways, actuaries have been machine learners. In both pricing and reserving, but also more recently in capital modelling, actuaries have combined statistical methodology with a deep understanding of the problem at hand and how any solution may affect the company and its customers. One aspect that has, perhaps, not been so well developed among actuaries is validation. Discussions among actuaries’ “preferred methods” were often without solid scientific arguments, including validation of the case at hand. Through this collection, we aim to promote a good practice of machine learning in insurance, considering the following three key issues: a) who is the client, or sponsor, or otherwise interested real-life target of the study? b) The reason for working with a particular data set and a clarification of the available extra knowledge, that we also call prior knowledge, besides the data set alone. c) A mathematical statistical argument for the validation procedure.

History of engineering & technology --- deposit insurance --- implied volatility --- static arbitrage --- parameterization --- machine learning --- calibration --- dichotomous response --- predictive model --- tree boosting --- GLM --- validation --- generalised linear modelling --- zero-inflated poisson model --- telematics --- benchmark --- cross-validation --- prediction --- stock return volatility --- long-term forecasts --- overlapping returns --- autocorrelation --- chain ladder --- Bornhuetter-Ferguson --- maximum likelihood --- exponential families --- canonical parameters --- prior knowledge --- accelerated failure time model --- chain-ladder method --- local linear kernel estimation --- non-life reserving --- operational time --- zero-inflation --- overdispersion --- automobile insurance --- risk classification --- risk selection --- least-squares monte carlo method --- proxy modeling --- life insurance --- Solvency II --- claims prediction --- export credit insurance --- semiparametric modeling --- VaR estimation --- analyzing financial data --- deposit insurance --- implied volatility --- static arbitrage --- parameterization --- machine learning --- calibration --- dichotomous response --- predictive model --- tree boosting --- GLM --- validation --- generalised linear modelling --- zero-inflated poisson model --- telematics --- benchmark --- cross-validation --- prediction --- stock return volatility --- long-term forecasts --- overlapping returns --- autocorrelation --- chain ladder --- Bornhuetter-Ferguson --- maximum likelihood --- exponential families --- canonical parameters --- prior knowledge --- accelerated failure time model --- chain-ladder method --- local linear kernel estimation --- non-life reserving --- operational time --- zero-inflation --- overdispersion --- automobile insurance --- risk classification --- risk selection --- least-squares monte carlo method --- proxy modeling --- life insurance --- Solvency II --- claims prediction --- export credit insurance --- semiparametric modeling --- VaR estimation --- analyzing financial data

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Het referatenboek van de 33ste Gentse cyclus Willy Delva, gewijd aan "Aansprakelijkheid, aansprakelijkheidsverzekering en andere schadevergoedingssystemen", is een belangrijke aanwinst voor de bibliotheek van eenieder die met aansprakelijkheid, verzekeringen of sociale zekerheid te maken heeft. Het benadert het aansprakelijkheidsrecht niet als een op zich staande rechtstak, maar als een onderdeel van een complexer schadevergoedingssysteem waarvan ook de aansprakelijkheidsverzekering, de sociale zekerheid, allerlei fondsen en ook varianten op de rechtstreekse verzekeringen deel uitmaken. Alle bijdragen zijn grondig en uitvoerig gedocumenteerd en zijn geschreven door vooraanstaande specialisten uit het betrokken vakgebied. Het verslagboek van de 33e cyclus Willy Delva, is dan ook een onmisbaar werkinstrument voor wie in de rechtspraktijk of in de wetenschap bezig is met de afwikkeling van ongevalsschade.

Tort and negligence --- Belgium --- Academic collection --- BE / Belgium - België - Belgique --- 347.5 --- 368.611 --- U34 - Droit des assurances - Verzekeringsrecht --- BPB0902 --- Dommages et intérêts --- Assurance dommages --- 347.51 <493> --- 13.01.B --- 13.08.B --- 13.21 --- 05.04.a --- Oorzaken van de verplichtingen die niet uit een overeenkomst voortvloeien. --- Bankdepositoverzekering. Kredietverzekering. Waarborg op bankdeposito's. Delcredere. --- Schadevergoeding --- Schadeverzekering --- Burgerlijke aansprakelijkheid. Risicoaansprakelijkheid--België --- Wettelijke en contractuele aansprakelijkheid ; Algemeen ; België --- Wettelijke en contractuele aansprakelijkheid ; Autovervoer ; België --- Wettelijke en contractuele aansprakelijkheid ; Overheid ; Ambtenaren --- Aansprakelijkheidsverzekering ; Algemeen --- 347.51 <493> Burgerlijke aansprakelijkheid. Risicoaansprakelijkheid--België --- Liability (Law) --- Liability insurance --- Law and legislation --- Damages --- Onrechtmatige daad --- België --- vahinkovakuutus --- ubezpieczenie od szkody --- kárbiztosítás --- seguro de daños --- assicurazione danni --- asigurare pentru daune --- poistenie proti škode --- sigurim i dëmshpërblimit --- skadeförsäkring --- обезщетяване на загуба --- assigurazzjoni ta’ indennizz --- seguro contra danos --- atlīdzības apdrošināšana --- indemnity insurance --- osiguranje protiv štete --- skadesforsikring --- draudimas nuo nuostolių --- осигурање од штете --- pojištění proti škodě --- árachas neamhshaoil --- kahjukindlustus --- škodno zavarovanje --- ασφάλιση ζημιών --- Schadenversicherung --- осигурување од штета --- schadeverzekering --- inboedelverzekering --- osiguranje od požara --- apdrošināšana zādzības gadījumam --- Versicherung gegen Naturereignisse --- assurance incendie --- assurance non vie --- Feuerversicherung --- sigurim kundër zjarrit --- brandforsikring --- seguro de accidentes y riesgos diversos --- seguro contra calamidades naturais --- seguro contra incêndio --- asigurare împotriva accidentelor --- vandskadeforsikring --- kompensācijas apdrošināšana --- nezgodno zavarovanje --- isikukahjude kindlustus --- storm insurance --- draudimas nuo audros --- draudimas nuo gaisro --- osiguranje od krađe --- seguro de robo --- osiguranje od posljedica nevremena --- seguro de daños naturales --- apdrošināšana vētras gadījumam --- pojištění majetku proti škodě --- protipožární pojištění --- biztosítás vihar okozta kárra --- πυρασφάλεια --- asigurare de calamități naturale --- assigurazzjoni kontra l-inċidenti --- assurance vol --- verzekering tegen natuurschade --- seguro de incendios --- Diebstahlversicherung --- brandverzekering --- осигурување од пожар и некои други опасности --- poistenie proti živlom --- palovakuutus --- pojištění proti krádeži --- sigurim kundër stuhisë --- assurance dégât naturel --- brandförsäkring --- asigurare de incendiu --- осигурување од провална кражба и разбојништво --- seguro contra roubo --- storm- og haglskadeforsikring --- neživotní pojištění --- non-life insurance --- fire insurance --- poistenie proti požiaru --- assicurazione antincendio --- застраховане за злополука --- biztosítás természeti csapás okozta kárra --- tormikindlustus --- seguro de acidentes e riscos diversos --- naturskadeförsäkring --- pojištění domácnosti --- tyveriforsikring --- osiguranje od moguće štete --- varguskindlustus --- assicurazione antifurto --- nelaimes gadījumu apdrošināšana --- осигурување од поплава --- myrskyvakuutus --- casualty insurance --- ασφάλεια πυρός --- õnnetuskindlustus --- apdrošināšana ugunsgrēka gadījumam --- draudimas nuo vagystės --- tűzbiztosítás --- ασφάλεια κλοπής --- assicurazione contro gli incidenti --- осигурување од луња --- neživotné poistenie --- esinevakuutus --- stöldförsäkring --- balesetbiztosítás --- verzekering tegen diefstal --- draudimas nuo nelaimingų atsitikimų --- poistenie proti krádeži --- assicurazione per danni naturali --- varkausvakuutus --- asigurare pentru furt --- ασφάλιση απώλειας --- sigurim kundër vjedhjes --- tulekindlustus --- pojištění proti požáru --- lopásbiztosítás --- theft insurance --- seguros não-vida --- odškodnina --- skadestånd --- αποζημίωση --- daños y perjuicios --- nuostoliai --- vahingonkorvaus --- надомест на штета --- вреди --- naprawienie szkody --- despăgubiri --- kahjutasu --- kártérítés --- Schadenersatz --- perdas e danos --- damages --- náhrada škody --- danni e interessi --- popravljanje štete --- dëmshpërblim --- накнада штете --- skadeserstatning --- kumpens --- schadevergoeding --- kaitējuma atlīdzināšana --- надомест на нематеријална штета --- atlīdzība par zaudējumu --- αποθετική ζημία --- воспоставување на поранешната состојба и надомест во пари --- naknada štete --- nuostolių atlyginimas --- a tényleges kár és az elmaradt haszon megtérítése --- reparace --- надомест на материјална штета --- kártérítési igény --- διαφυγόν κέρδος --- θετική ζημία --- atlīdzība par kaitējumu --- Oorzaken van de verplichtingen die niet uit een overeenkomst voortvloeien --- Bankdepositoverzekering. Kredietverzekering. Waarborg op bankdeposito's. Delcredere --- damáistí --- žala --- Dommages et intérêts --- Droit des assurances --- DROIT CIVIL BELGE --- Belgique --- assurance du dommage --- assurance responsabilité --- théorie générale des obligations --- responsabilité délictuelle --- réparation du dommage --- indemnisation

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Ce manuel propose une étude du droit belge des assurances. Il expose les éléments de base de la technique de l’assurance privée, les grandes lignes du régime du contrôle des entreprises d’assurance, les principales classifications des assurances ainsi que les éléments essentiels du contrat d’assurance. Le processus de formation du contrat et les règles qui gouvernent son exécution sont ensuite examinés. Quelles informations le preneur d’assurance doit-il communiquer à l’assureur avant de s’engager, et vice versa ? Quels sont les droits et obligations des parties en cas de sinistre ? Quand l’assuré a-t-il droit à la garantie ? Quand l’assureur peut-il valablement refuser celle-ci ? Dans quelles hypothèses et selon quelles modalités peut-on résilier ou modifier un contrat d’assurance ? L’ouvrage examine successivement les dispositions de la loi du 4 avril 2014 relative aux assurances qui sont propres aux assurances à caractère indemnitaire et à caractère forfaitaire, ainsi que les règles qui s’appliquent aux assurances de dommages, avec un régime spécifique pour l’assurance incendie, l’assurance de la responsabilité et l’assurance protection juridique. Quant aux assurances de personnes, l’attention est portée sur l’assurance maladie. Le manuel est enrichi d’exemples concrets et de conseils pratiques. Il expose les controverses auxquelles certains textes donnent lieu. Il vise à susciter une réflexion sur des problèmes d’accès à l’assurance ou des besoins de couverture qui évoluent avec le temps. Il s’adresse aux praticiens et plus généralement à celles et ceux qui s’intéressent à la matière dans l’optique d’une utilisation tant dans la vie professionnelle que dans la vie privée. Il constitue le support du cours de droit des assurances des étudiants de 1er et 2e Master en Droit.

BPB9999 --- BPB2112 --- droit des assurances --- contrat d'assurance --- assurance dommages --- indemnité d'assurance --- assurance maladie --- Belgique --- STRADALEX --- Belgium --- Bélgica --- Belgija --- Belgien --- Belgie --- Belgicko --- België --- Beļģija --- Белгија --- Belgio --- Белгия --- Belgia --- il-Belġju --- An Bheilg --- Βέλγιο --- Belgjika --- Belgia Kuningriik --- Beļģijas Karaliste --- Royaume de Belgique --- Belgian kuningaskunta --- Belgické kráľovstvo --- Koninkrijk België --- Belgijos Karalystė --- das Königreich Belgien --- Βασίλειο του Βελγίου --- Kingdom of Belgium --- Кралство Белгија --- Краљевина Белгија --- Belgické království --- Reino de Bélgica --- ir-Renju tal-Belġju --- Regatul Belgiei --- Kongeriget Belgien --- Кралство Белгия --- Mbretëria e Belgjikës --- Belga Királyság --- Królestwo Belgii --- Konungariket Belgien --- Reino da Bélgica --- Kraljevina Belgija --- Regno del Belgio --- Krankenversicherung --- árachas sláinte --- ubezpieczenie zdrowotne --- health insurance --- tervisekindlustus --- здравствено осигурување --- sairausvakuutus --- assigurazzjoni medika --- sigurim shëndetësor --- asigurare de sănătate --- sjukförsäkring --- zdravotné poistenie --- seguro de doença --- ιατροφαρμακευτική περίθαλψη --- egészségbiztosítás --- здравна осигуровка --- veselības apdrošināšana --- assicurazione malattia --- ziekteverzekering --- здравствено осигурање --- zdravotní pojištění --- seguro de enfermedad --- zdravstveno osiguranje --- sveikatos draudimas --- zdravstveno zavarovanje --- sygeforsikring --- sigurim mjekësor --- medical insurance --- nemocenská --- subsidio de enfermedad --- nemocenská dávka --- дополнително здравствено осигурување --- medicininis draudimas --- private Krankenversicherung --- assegno di malattia --- betegbiztosítás --- asigurare medicală --- dekking van het ziekterisico --- indemnizație de boală --- Versicherungsschutz bei Krankheit --- allocation de maladie --- haiguskindlustus --- uitkering bij ziekte --- nemocenské poistenie --- příspěvek v nemoci --- subsídio de doença --- nemocenské pojištění --- Krankengeld --- sickness benefit --- gesetzliche Krankenversicherung --- indennità di malattia --- përfitime për sëmundjen --- sjukpenning --- приватно здравствено осигурување --- copertura dei rischi di malattia --- assicurazione contro le malattie professionali --- laikinojo nedarbingumo išmoka --- Krankenhilfe --- sairausetuus --- sygepenge --- dopunsko zdravstveno osiguranje --- κάλυψη κινδύνου ασθενείας --- dækning af sygdomstilfælde --- ravikindlustus --- naknada za bolovanje --- medicinsko osiguranje --- privatno zdravstveno osiguranje --- slimības pabalsts --- основно здравствено осигурување --- osnovno zdravstveno osiguranje --- επίδομα ασθενείας --- haigushüvitis --- forsikringserstatning --- odszkodowanie ubezpieczeniowe --- apdrošināšanas atlīdzība --- draudimo kompensavimas --- zavarovalnina --- indemnización del seguro --- indennità di assicurazione --- застрахователно обезщетение --- indemnização de seguro --- ασφαλιστική αποζημίωση --- despăgubiri în asigurări --- pojistné plnění --- надомест од осигурување --- dëmshpërblim sigurimi --- poistné plnenie --- försäkringsersättning --- naknada iz osiguranja --- slánaíocht árachais --- indennizz tal-assigurazzjoni --- накнада из осигурања --- kindlustushüvitis --- Versicherungsleistung --- biztosítási összeg --- vakuutuskorvaus --- insurance indemnity --- verzekeringsuitkering --- forsikringssum --- pojistná náhrada --- erstatningsbeløb --- draudimo atlyginimas --- pojišťovací odškodnění --- ασφάλισμα --- forsikringsydelse --- vahinkovakuutus --- ubezpieczenie od szkody --- kárbiztosítás --- seguro de daños --- assicurazione danni --- asigurare pentru daune --- poistenie proti škode --- sigurim i dëmshpërblimit --- skadeförsäkring --- обезщетяване на загуба --- assigurazzjoni ta’ indennizz --- seguro contra danos --- atlīdzības apdrošināšana --- indemnity insurance --- osiguranje protiv štete --- skadesforsikring --- draudimas nuo nuostolių --- осигурање од штете --- pojištění proti škodě --- árachas neamhshaoil --- kahjukindlustus --- škodno zavarovanje --- ασφάλιση ζημιών --- Schadenversicherung --- осигурување од штета --- schadeverzekering --- inboedelverzekering --- osiguranje od požara --- apdrošināšana zādzības gadījumam --- Versicherung gegen Naturereignisse --- assurance incendie --- assurance non vie --- Feuerversicherung --- sigurim kundër zjarrit --- brandforsikring --- seguro de accidentes y riesgos diversos --- seguro contra calamidades naturais --- seguro contra incêndio --- asigurare împotriva accidentelor --- vandskadeforsikring --- kompensācijas apdrošināšana --- nezgodno zavarovanje --- isikukahjude kindlustus --- storm insurance --- draudimas nuo audros --- draudimas nuo gaisro --- osiguranje od krađe --- seguro de robo --- osiguranje od posljedica nevremena --- seguro de daños naturales --- apdrošināšana vētras gadījumam --- pojištění majetku proti škodě --- protipožární pojištění --- biztosítás vihar okozta kárra --- πυρασφάλεια --- asigurare de calamități naturale --- assigurazzjoni kontra l-inċidenti --- assurance vol --- verzekering tegen natuurschade --- seguro de incendios --- Diebstahlversicherung --- brandverzekering --- осигурување од пожар и некои други опасности --- poistenie proti živlom --- palovakuutus --- pojištění proti krádeži --- sigurim kundër stuhisë --- assurance dégât naturel --- brandförsäkring --- asigurare de incendiu --- осигурување од провална кражба и разбојништво --- seguro contra roubo --- storm- og haglskadeforsikring --- neživotní pojištění --- non-life insurance --- fire insurance --- poistenie proti požiaru --- assicurazione antincendio --- застраховане за злополука --- biztosítás természeti csapás okozta kárra --- tormikindlustus --- seguro de acidentes e riscos diversos --- naturskadeförsäkring --- pojištění domácnosti --- tyveriforsikring --- osiguranje od moguće štete --- varguskindlustus --- assicurazione antifurto --- nelaimes gadījumu apdrošināšana --- осигурување од поплава --- myrskyvakuutus --- casualty insurance --- ασφάλεια πυρός --- õnnetuskindlustus --- apdrošināšana ugunsgrēka gadījumam --- draudimas nuo vagystės --- tűzbiztosítás --- ασφάλεια κλοπής --- assicurazione contro gli incidenti --- осигурување од луња --- neživotné poistenie --- esinevakuutus --- stöldförsäkring --- balesetbiztosítás --- verzekering tegen diefstal --- draudimas nuo nelaimingų atsitikimų --- poistenie proti krádeži --- assicurazione per danni naturali --- varkausvakuutus --- asigurare pentru furt --- ασφάλιση απώλειας --- sigurim kundër vjedhjes --- tulekindlustus --- pojištění proti požáru --- lopásbiztosítás --- theft insurance --- seguros não-vida --- contract de asigurare --- уговор о осигурању --- draudimo sutartis --- biztosítási szerződés --- apdrošināšanas līgums --- umowa ubezpieczenia --- застрахователен договор --- kuntratt ta' assigurazzjoni --- insurance contract --- vakuutussopimus --- ασφαλιστήριο συμβόλαιο --- kindlustusleping --- forsikringsaftale --- ugovor o osiguranju --- försäkringsavtal --- Versicherungsvertrag --- pojistná smlouva --- verzekeringsovereenkomst --- kontratë sigurimi --- zavarovalna pogodba --- apólice de seguros --- contratto assicurativo --- conradh árachais --- договор за осигурување --- poistná zmluva --- póliza de seguro --- Versicherungspolice --- kindlustuspoliis --- försäkringsbrev --- contrato de seguro --- forsikringspolice --- vakuutuskirja --- polica osiguranja --- policë sigurimi --- polizza assicurativa --- pojistka --- verzekeringspolis --- полиса --- poliță de asigurare --- apdrošināšanas polise --- ασφαλιστήριο --- biztosítási kötvény --- draudimo liudijimas --- осигурителна полиса --- forsikringskontrakt --- draudimo polisas --- poistka --- insurance policy --- police d'assurance --- kindlustusõigus --- zavarovalno pravo --- poistné právo --- draudimo teisė --- dlí árachais --- право на осигурување --- liġi tal-assigurazzjoni --- pravo osiguranja --- Versicherungsrecht --- biztosítási jog --- e drejta e sigurimeve --- ασφαλιστικό δίκαιο --- dreptul asigurărilor --- insurance law --- diritto assicurativo --- застрахователно право --- försäkringslagstiftning --- direito dos seguros --- prawo ubezpieczeniowe --- Derecho de los seguros --- pojistné právo --- apdrošināšanas likums --- verzekeringsrecht --- vakuutuslainsäädäntö --- forsikringsret --- право осигурања --- tiesību akti apdrošināšanas jomā --- права од осигурување во случај на невработеност --- pojistná legislativa --- diritto delle assicurazioni --- pravo na osiguranje --- zákon o pojišťovnictví --- права од задолжително здравствено осигурување --- E-books --- Assurance --- Droit --- Insurance law --- indemnité d'assurance