• 해운
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• no.3 s.26
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• pp.31-31
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• 2006

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.147-181
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• 2007

Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.

• 방재와보험
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• s.107
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• pp.28-33
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• 2005

절연된 물질 상호간에 전기저항이 감소하여 많은 전류를 흐르게 하는 절연파괴는 화재발생의 원인중 하나이다. 절연파괴의 원인으로는 기계적 손상, 절연피복의 손상, 허용전류를 넘어선 열적손상 등이 있다. 이번 호에는 절연 내력이 점차 저하하여 마침내 절연파괴를 일으키는 배선에서의 전기력 발연원인에 대해 고찰해보기로 하자.

• 방재와보험
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• s.101
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• pp.56-59
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• 2004

본 내용은 APE(ASIA PACIFIC FIRE) 2003년 12월호의 William S. FINK씨의 기사 일부를 요약, 보충하여 소개하는 위험관리정보입니다. 전체적인 손실제어시스템에서 다양한 공장 하위시스템들을 확인하기 위한 것으로, 하위시스템의 상호 관계를 분리하거나 완전히 독립적으로 웅영하는 것은 매우 어려우며 효율적으로 작동하지 않을 수도 있어, 이를 방지하기 위해서 전체시스템에 기초를 두고 투자검토하여야 필요없는 방재지설에 낭비하는 것을 막을 수 있다고 설명하고 있다.

• Korean journal of communication and information
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• v.66
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• pp.59-86
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• 2014

This study explored how rumor is diffused via Twitter and how the characteristics of rumor affect the interactivity among users in the Korea-U.S. FTA case. A key word search located three issues as major ones related to the Korea-U.S. FTA: appendectomy myth, collapse of health insurance, and increases in medicine prices. The arousal of rumor has two dimensions: fact and expression. The fact arousal was the highest in the issue of 'appendectomy myth', and the expression arousal the highest in 'increases in medicine prices'. The rumor diffusion took the 'explosive wave' in the issue of appendectomy myth, the 'latent wave' in the issue of increase in medicine prices, and the 'repetitive wave' in the issue of collapse of health insurance. Correlation analyses revealed a high correlation between the arousal intensity of rumor and the user interactivity in the issue of collapse of health insurance. The study showed that Twitter took a role of diffusing negative messages about the Korea-U.S. FTA. Results implies that government officials and journalists pay attention to Twitter for sensing the public opinion when building policies and managing crises.

• Fire Protection Technology
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• s.52
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• pp.31-36
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• 2012

• 해운
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• no.9 s.20
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• pp.16-22
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• 2005

• Korean Business Review
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• v.1
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• pp.167-192
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• 1987

• 해운
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• no.7 s.18
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• pp.26-31
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• 2005

• Journal of the Korea Society of Computer and Information
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• v.6 no.4
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• pp.188-205
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• 2001

Insurer's duty of declaration is based on reciprocity of principle of the highest good, and recently it is widely recognized in the British and American insurance circles. The conception of fiduciary relationship is no longer equity or the legal theory which is only confined to the nations with Anglo-American laws. Therefore, recognizing the fiduciary relationship as the essence of insurance contract, which is more closely related to public interest than any other fields. will serve an efficient measure to seek fair and reasonable relationship with contractor, and provide legal foundation which permits contractor to bring an action for damage against violation of insurer's duty of declaration. In the future, only when the fiduciary relationship is approved as the essence of insurance contract, the business performance and quality of insurance industry is expected to increase. Therefore, to keep well this fiduciary relationship, or increase the fiduciary relationship persistency rates seems to be the bottom line in the insurance industry. In this paper, we developed a fiduciary relationship maintenance ratio based on comparison by case, which is represented with usually maintained contract months to paid months, based on each contract of the basis point. In this paper we have developed a new business model seeking the maximum profit with low cost and high efficiency, management policy of putting its priority on its substantiality, as an improvement measure to break away from the vicious circle of high cost and low efficiency, and management policy of putting its priority on its external growth(expansion of market share).