• Title/Summary/Keyword: Economic loss expenses

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Rational Criterion of Suing and Labouring Charge in Marine Insurance -Using Game Theoretic Approach-

  • Kang, Jun-Won
    • Journal of Korea Port Economic Association
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    • v.20 no.2
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    • pp.73-87
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    • 2004
  • The purpose of this paper is to setup reasonable criterion for underwriters to reimburse the expenses of suing and labouring incurred by assured, using game theory. As for the upper limit for the reimbursement, MIA and ICC do not mention at all but stipulate that proper and reasonable expenses shall be reimbursed, while ITC-Hulls set the amount insured as the upper limit to compensate the sum of expenses and damage loss. And as for failed measures of averting and minimizing loss, MIA and ICC do not mention either, while ITC-Hulls stipulates underwriters shall compensate the expenses and damage loss within the amount insured. The main results of this paper are as follows: First, it is for the benefit of underwriters to reimburse the expenses incurred to take such reasonable measures to avert or minimizing a loss which would be recoverable under the insurance. Second, the expenses of single measure should not be above the amount insured. Third, even if the measures failed, the expense should be reimbursed if it is less than the expected value of the subject-matter insured that could be recovered by the measures. Last, if the measures are taken several times individually, even if the sum of expenses might be above the amount insured, it should be reimbursed.

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A Study of Pertinent Safety Investment Reckoning by Economic toss Analysis of Industry Calamity in Construction Work (건설공사 안전투자비용 최적화 연구)

  • Kim Youn-Hi
    • Journal of the Korean Society of Safety
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    • v.19 no.4 s.68
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    • pp.117-122
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    • 2004
  • The investment for industrial disasters prevention can not help but get accomplished in negative way. At this point, the most effective way to diminish industrial disaster outbreak is the very subject should strive to prevent it by itself However, it's still the times that we place more weight on economic development no economic subject would not positively self-participate in it for the investment for industrial disasters prevention without my effect of numerical reduction. In this view, this study will tv to entirely analyze and grasp the economic toss due to industrial disasters at construction sites, and will present the most suitable safety-investment. As a result, in domestic construction sites, averagely $1.6\~2.6\%$ of the entire construction expenses had been invested for safety expense. The according to the result of the analysis, basically this safety investment expenses should be spent $2.4\%$ over to reduce the saffey-accidents stably.

Estimating social and economic costs for outpatient injuries by using Korea medical panel data (한국의료패널데이타를 이용한 외래 환자 손상의 사회경제적 비용 추계)

  • Choi, Eun-Mi;Yoo, In-Sook
    • Journal of Korea Society of Industrial Information Systems
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    • v.20 no.4
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    • pp.55-65
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    • 2015
  • An increase in patients' medical expenses for their injury. accident and intoxication is a major challenge to improve the sustain-ability of a national health security system, and increasing medical expenses need be suppressed through improving relevant systems and/or efficiently operating and managing the health insurance. At this juncture, in Korea which has a high rate of injury incidence and mortality, it is necessary to estimate social and/or economic costs for injuries with a focus on their social effects. This research has examined the results of a Korea medical panel investigation conducted in 2008, which largely surveyed of the actual conditions of outpatients' medical use for their injury, accident and/or intoxication and investigated relevant medical expenses, with a view to estimating the directly incurred costs when the patients use medical services and the production loss costs caused by an production decline and others, so that social and/or economic costs for injuries may be ultimately aggregated.

Factors Affecting Dental Utilization and Dental Expenses in the Economically Active Population: Based on the 2010~2014 Korea Health Panel Data

  • Lee, Jin-Ha;Ahn, Eunsuk
    • Journal of dental hygiene science
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    • v.19 no.1
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    • pp.23-30
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    • 2019
  • Background: The health of the economically active population contributes to increased corporate productivity by reducing the productivity loss caused by disease and increasing job efficiency, which in turn is a national benefit. Since the economically active population is a concept encompassing workers and a source of economic development for a country, that population's health should be treated with importance not only from a personal standpoint but also at a national level. Methods: In this study, data of 11,007 adults aged 20 years and older who participate in economic activities were analyzed in the five-year Korea Health Panel Study from 2010 to 2014 including the number of dental visits and dental medical expenses. Results: Factors related to "gender," "education level," "age," "duty category," "income level," "employment type," "national health insurance," and "chronic disease status" of the economically active population are affected in relation to the number of visits and dental medical expenses. The number of dental visits increased with higher education levels (p<0.001), and the number of visits to the dentist increased with older age (p <0.001). Dental medical expenses were 91,806 Korean won (KRW) more for "white-collar workers" than for "blue-collar workers" (p<0.03), and 127,674 KRW more for "regular workers" than for "atypical workers" (p<0.02). Conclusion: When it is necessary to improve policies to enhance the efficiency of the distribution of health and medical resources in the overall balance of the dental health sector, we should try to identify various factors of oral health disorder due to income inequality among the classes according to the country's employment type in order to find ways to reduce the health gap among the social classes.

Estimation of National Loss Expenses to Insufficient Safety Inspection and Precision Safety Diagnosis (부실 정밀점검 및 정밀안전진단의 국가적 손실비용 추정)

  • Ha, Myung-Ho;Park, Jong-Sup
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.14 no.6
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    • pp.246-253
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    • 2010
  • National major facilities have been rigorously investigated using regular safety inspections and precision safety diagnosis since the Special Law for Facilities Safety Management was made in 1995. However, the process of safety inspection and precision safety diagnosis could be doubted due to intervention of facility owner for safety level evaluation, competition to obtain low price order, and low technical skills of inspection companies. Although the management processes for evaluating the inspection companies were used for several years, the process should continue to improve in the safety inspection field. This study analyzed the recent evaluation system and the ratios of insufficient inspection. Estimation of national loss expenses to the insufficient safety inspection was investigated to recognize the necessity for the improvement of facility inspection process and evaluation system.

Economic Appraisal of Telemedicine (원격진료시스템의 경제성 분석)

  • 이해종;채영문;조재국;최형식
    • Health Policy and Management
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    • v.6 no.1
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    • pp.85-109
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    • 1996
  • Telemedicine can increase accessibility to advance medical technology at the university hospital for community residents living in a remote area. This paper focused on the economic evaluation of telemedicine to identify important factors influencing costs and benefits and to understand how these factors can be changed to improve economic performance of the telemedicine. When the telemedicine project currently operating in Korea was evaluated based on the traditional cost-benefit analysis, the results showed a heavy net loss wiht a B/C ration of 0.56. As several values were added to the analysis based on the Information Economics approach, B/C ratios steadly increased. When the saving of medical expenses from the early detection of diseases was taken into a consideration, the ration exceeded the break-even point. >From the sensitivity analysis, a number of patients and the cost for equipment and communication were found to be the key factors for influencing economic performance of telemedicine.

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Changes in Economic Status of Households Associated with Catastrophic Health Expenditures for Cancer in South Korea

  • Choi, Jae-Woo;Cho, Kyoung-Hee;Choi, Young;Han, Kyu-Tae;Kwon, Jeoung-A;Park, Eun-Cheol
    • Asian Pacific Journal of Cancer Prevention
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    • v.15 no.6
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    • pp.2713-2717
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    • 2014
  • Background: Cancer imposes significant economic challenges for individuals, families, and society. Households of cancer patients often experience income loss due to change in job status and/or excessive medical expenses. Thus, we examined whether changes in economic status for such households is affected by catastrophic health expenditures. Materials and Methods: We used the Korea Health Panel Survey (KHPS) Panel $1^{st}-4^{th}$ (2008-2011 subjects) data and extracted records from 211 out of 5,332 households in the database for this study. To identify factors associated with catastrophic health expenditures and, in particular, to examine the relationship between change in economic status and catastrophic health expenditures, we conducted a generalized linear model analysis. Results: Among 211 households with cancer patients, 84 (39.8%) experienced catastrophic health expenditures, while 127 (40.2%) did not show evidence of catastrophic medical costs. If a change in economic status results from a change in job status for head of household (job loss), these households are more likely to incur catastrophic health expenditure than households who have not experienced a change in job status (odds ratios (ORs)=2.17, 2.63, respectively). A comparison between households with a newly-diagnosed patient versus households with patients having lived with cancer for one or two years, showed the longer patients had cancer, the more likely their households incurred catastrophic medical costs (OR=1.78, 1.36, respectively). Conclusions: Change in economic status of households in which the cancer patient was the head of household was associated with a greater likelihood that the household would incur catastrophic health costs. It is imperative that the Korean government connect health and labor policies in order to develop economic programs to assist households with cancer patients.

The Effects of the Urban Spatial Structure on Traffic Congestion Costs (도시의 형태가 교통혼잡비용에 미치는 영향연구)

  • Lee, Tae-Kyung;Won, Jae-Mu
    • International Journal of Highway Engineering
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    • v.13 no.3
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    • pp.147-156
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    • 2011
  • Since the urbanization process has been taking place, negative outcomes such as environmental pollution and traffic congestion have produced as well. Reflecting the phenomenon, our study assumed that physical structure of urban form were implicit in relation to both economic performance and cost. It can be interpreted that as the urban space has been growing bigger, economic performances such as regional product output, economy of scale and the effect of agglomeration economies are increased. On the contrary, the negative effects such as environmental pollution and traffic congestion were incurred as economic loss and expenses. It means that even though economic performance can help increase regional product output, we should consider the loss on economic expenses which are paid for social problems such as environmental pollution and traffic congestion, which are caused by urbanization. Therefore, this study aims to statistically validate the relationship between traffic congestion as the most representative economy costs and physical characteristics of urban in a large city such as Seoul and to suggest its implications. As a result of model development for empirical analysis, GRDP(0.604), the population(0.582), employment GINI coefficients(0.296), population GINI coefficients(0.254) in order led to congestion cost. We can come to the conclusion that in case of scale factor such as the population, if the population tends to concentrate, urban becomes more crowded and that if GINI coefficients (the population, employment) which are variable on inequality according to region have the disparity with surrounding areas, congestion cost is caused a lot on account of movement related with employment. In addition, this phenomenon was caused if both the population and employment were geographically biased on one side.

Risk factors limiting first service conception rate in dairy cows and their economic impact

  • Kim, Ill Hwa;Jeong, Jae Kwan
    • Asian-Australasian Journal of Animal Sciences
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    • v.32 no.4
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    • pp.519-526
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    • 2019
  • Objective: We determined the risk factors limiting first service conception (FSC) rate in dairy cows and their economic impact. Methods: Data were collected from 790 lactations regarding cow parity, peri- and postpartum disorders, body condition score (BCS), reproductive performance, and expenses associated with reproductive management (treatment, culling, and others). Initially, we identified the risk factors limiting FSC rate in dairy cows. Various biological and environmental factors, such as herd, cow parity, BCS at 1 month postpartum and first artificial insemination (AI), resumption of cyclicity within 1 month of calving, year, AI season, insemination at detected estrus or timed AI, peri- and postpartum disorders, and calving to first AI interval, were evaluated. Next, we evaluated the economic impact of the success or failure of FSC by comparing the expense associated with reproductive management until conception between cows that did or did not conceive at their first service. Results: Cows with BCS <3.0 had a lower probability of conceiving at first insemination (odds ratio [OR] = 0.64, p<0.05) than cows with $BCS{\geq}3.0$. Cows inseminated during summer were less likely to conceive (OR = 0.44, p<0.001) than cows inseminated during spring. Cows with peri- or postpartum disorders were less likely to conceive (OR = 0.55, p<0.001) than cows without disorders. Survival curves generated using MedCalc showed an 81 day extension in the mean interval between calving and conception in cows that failed to conceive over those that did conceive at first insemination. Cows failing conceive required additional expenditure on reproductive treatment ($55.40) and other management ($567.00) than cows that conceived at first insemination. Conclusion: Lower BCS, hot weather at first insemination, and peri- and postpartum disorders are risk factors limiting FSC, which result in an economic loss of $622.40 per dairy cow.

A study on Effectiveness Analysis for the Coastal and Inshore Submerged Marine Litters (연근해 침적폐기물 수거사업에 대한 효과분석 연구)

  • Choi, Kyu-Chul;Jang, Cheol-Ho;Kim, Gwang-Tae;Lee, Jin-Hwan
    • The Journal of Fisheries Business Administration
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    • v.43 no.3
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    • pp.43-57
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    • 2012
  • According to the result of the recent survey on the current condition of loss of the fishing gears in the East, West and South seas, it is estimated that 50% of the fishing gears used for coastal trap and gill net fisheries are lost every year and 20~30% of those used for inshore trap and gill net fisheries are lost. It is reported that such loss of fishing gears leads to the loss of about 10% of 1.7M tons of the total annual catch from the gill nets and traps along the country's coasts and shores, which amounts to 15~170K tons. Submerged marine litters that have recently been accumulated because of the washed out or lost fishing gears significantly affect the development of fisheries resources as well as the natural environment. The purpose of this study is to identify the damages that the ever-increasing submerged marine litters of washed out fishing gears would have on the fishery and to analyze the effects of the coastal and inshore submerged marine litter collection business on the fishery management. For this, the economic analysis was carried out for the coastal and inshore submerged marine litter collection business based on the fishermen's expenses and earnings and their catch. The result of the analysis shows that the submerged marine litter collection business is quite effective in certain areas but rarely effective in other areas. However, taking into consideration that the litter collection would contribute to protecting the marine environment as well as the fisheries resources, it is expected to have a significant impact on the protection of the marine environment even in those areas where it is not effective for the protection of the fisheries resources.