A Study of the Impact of the Decisions Made by the Judiciary, legislative and Executive Systems on the Solvency of Insurance Companies with Regard to Third-party Life Insurance in the Year 2014
Subject Areas :Seyed Mohammad Fateminejad 1 , Ahmad Reza Jerghoui 2
1 - هیات علمی دانشگاه آزاداسلامی واحد نراق
2 - کارشناس ارشد مدیریت بازرگانی
Keywords: decision-making, the Judiciary, Legislative and Executive Systems, Solvency of Insurance Company, Third-party Life Insurance,
Abstract :
This paper is a study of the impact of the decisions made by the judiciary, legislative and executive systems on the solvency of insurance companies with regard to third-party life insurance in the year 2014. Its purpose is utilization-oriented and the method used is a descriptive survey. The statistical population included experts and managers of insurance industry that with the use of Cochran test, 150 out of 260 people were selected. Research method is simple random sampling. For the purpose of studying and investigating the impact of decisions made by the judiciary, legislative and executive systems on the solvency of insurance companies with regard to third- party life insurance, a researcher-made questionnaire with 6 topics and 15 items applying 5-point Likert scale was used. Using Cronbach’s alpha coefficient, the reliability of the questionnaire was assessed %87 which indicated the adequacy of measurement tools and methods. After collecting data, the SPSS software was used for both descriptive and inferential analyses. The results indicated that setting the upper limits of insurer’s obligations (setting and notifying the amount of blood cost) by judiciary system, interpreting the laws by judges in the process of probing litigations of policyholders and insurance companies, lengthy and slow process of courts, changing and determining of the insurance regulations by legislative system, setting the upper limits of insurance premium and the policies of executive system concerning insurance, contracts and losses paid have great effects on the solvency of insurance companies with regard to third- party life insurance. Nevertheless, charges and tolls imposed by legislative system has no tangible effect on the solvency of insurance companies with regard to third- party life insurance.
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