Keywords: Gyula Gömbös; right-wing radicalism; 20th-century history of Hungary; totalitarianism
A critical review on József Vonyó's "Gömbös Gyula és a jobboldali radikalizmus [Gyula Gömbös and Right-Wing Radicalism]".
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Keywords: reviews on three books
Alan Renwick on Zsolt Enyedi's and András Körösényi's "Pártok és pártrendszerek [Parties and Party Systems]", Tibor Hajdu on György Litván's (ed.) "Jászi Oszkár naplója [The Diaries of Oszkár Jászi)", and Pieter Vanhuysse on Zsolt Spéder's (ed.) "Hungary in Flux: Society, Politics and Transformation".
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Keywords: insurance; premium; costs
The aim of the paper is the analysis of premium, claims paid and acquisition and administrative costs in insurance companies. Data used in this analysis are based on the information presented in reports by Polish Financial Supervision Authority. That is why insurance products division is the same as in regular insurance classification which is based on the legislation insurance act. Information about costs and incomes is taken from the financial statements of Polish insurance companies. The time period which is analyzed is from 2009 to 2011.
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Keywords: microinsurance; transport; insurance product
The aim of the article is to present opportunities of making good use of microinsurance in Poland based on example of transport industry. The article describes microinsurance together with product characteristics. The situation of micro enterprises, companies in the sector of SME sector and transport industry on the Polish market, is also shown. The article presents an example of usage of microinsurance as a product of casco for a truck tractor unit. The article does not show any proposals for insurance product, but gives rise to the discussion on the use of microinsurance on the Polish market.
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Keywords: financialisation; financial sector
The article deals with the problem of financialisation in the insurance sector. This paper presents the role of the financial sector in the economy, the essence of financialisation and the relation between financialisation and insurance sector.
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Keywords: insurance market; block of South Asian countries; EEC
The paper is an attempt to characterize the insurance market in Asian states which were a part of USSR. It is a very difficult task due to some significant differences between socio-economic and financial indicators in these states. An additional problem is lack of access to comparable sources of information and sometimes lack of information at all. Nevertheless the authors present the outline of insurance structure basing on assumptions of creating a uniform insurance market within Eurasian economic community which was established in 2000.
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Keywords: risk management; investments; insurance risk
The purpose of functional imaging of risk management in the context of estimating the actual price of the instrument prior to its acquisition, valuation of investment policy reflects the specificity of the real instruments in the capital market. The valuation of the instrument, in the context of risk management was based on the original model integrated with wavelet analysis, genetic algorithm and artificial neural network.
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Keywords: fire; smoke; fumes; large high storage buildings; property insurance
Starting from the 90s of the twentieth century the dynamic growth of high storage facilities can be seen in Poland. The projects include commercial buildings, business, and warehouses. Fire can break out at any of these facilities. One of the risks for these objects are fumes and smoke. In the article we point to the risk of smoke from fire. After defining fire, smoke of large objects, we present their quantitative and qualitative scale. We show that these objects have a high insurance value. We hypothesize about the likely causes and consequences of fire in them. The article ends with an attempt to quantify the contribution, an attempt to identify the basic parameters of the policy conditions from smoke fire for warehouses and large buildings.
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Keywords: insurance; claim settlement; small and medium enterprises
The purpose of the article is to evaluate the level of satisfaction among SMEs with the insurance claim settlement. The empirical study is based on the research results of the Finance of SME 2010, 2011 and 2012. 572 enterprises were chosen. They have made an insurance claim at least once in the period of the last three years. The research investigated the level of satisfaction of SMEs and allowed to distinguish the attributes of quality. Subsequently, a compound satisfaction indicator has been constructed. It has been used to identify the attributes which diversify enterprises with regard to the level of satisfaction.
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Keywords: motor insurance; underwriting cycles; financial activity ratios
The aim of this paper is to analyse areas and factors affecting the development of motor insurance in Poland in comparison to European trends in this area. Changes in the motor insurance market in Poland will be analysed on the basis of the values of selected indicators such as profitability ratios, claims, growth rates, indicators of the level of costs for the years 1999 to 2011. These indicators will also be compared with the value and trends of similar indicators for the EU. In addition, the analysis of business cycles that have occurred in this area will be done.
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Keywords: environment insurance; directive; damage; claim; financial security
Pro-environmental actions have been reflected in many areas and have evolved over the last several years. The problem of environmental damage began to be more and more noticeable in the social and economic life, and that is why it was decided to take it on the basis of international regulations. A huge impact on the nature of the observed effects of environmental protection and the prevention of damage to the environment was the introduction of the Directive 2004/35/EC of the European Parliament and of the Council of 21 April 2004 (ELD) on environmental liability with regard to the prevention and remedying the environmental damage. This directive clearly affected the insurance industry in the context of insurance coverage offered.
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Keywords: pension; savings; farm
The objective of the paper is to present investments made in farms seen as a potential form of farmers’ retirement savings. Polish farms are often run by families. Such a form of farming is also identified in the Constitution of the Republic of Poland as the basic form of the agricultural system. At the same time it should be emphasized that Polish farms are being dynamically modernized and considerable funds are invested in their development. These funds come both from such farms' own profits and from the EU subsidies. Considering the multi-generation character of Polish farmers’ households, attention should be paid to the fact that investments in farms can be regarded as “retirements investment”, due to their family-based nature.
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Keywords: alternative dispute resolution (ADR); consumer protection; insurance
The article is dedicated to the role of alternative dispute resolution and consumer protection within insurance market. Special attention is paid to European regulations and practices of developed markets. There is also a critical assessment of Polish ADRs and proposals of coherent ADR system, which could lead to increase the effectiveness of consumer protection on the insurance market.
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Keywords: insurance premium; motor insurance; calculation of insurance premium; MTPL; autocasco
The sector of insurance market dedicated for business has a very complicated structure on the grounds of different ways of premium rate calculation. The situation does not change even if we take into consideration the methods that can simplify this process. As a result we can observe few publications available on the market concerning different methods of gross and net premium calculation. The article presents the basic principles of insurance premiums calculation for motor business. The rules of premium calculation for a business client are also disused in the article. The main base of insurance business is proper premium calculation which can be explained as a proper price for insurance cover granted by the insurance company.
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Keywords: financial insurance; business insurance; insurance guarantees; Division II; gross premiums written
National economy creates such subjects as: companies, households, financial and insurance institutions, government agencies and local governments and others. Because of their functions each of these subjects is at risk. This risk increases together with the economic development and growth. In Polish economy there are instruments that reduce this risk. Some are more popular, existing longer on the market, and others less. This paper analyzes the market of insurance guarantees in Poland in 2006-2012 and compares the results of the analysis of the results achieved in the whole business insurance sector, belonging to Division II insurance.
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Keywords: regulatory arbitrage; supervisory arbitrage; financial market
The study identifies and characterizes the phenomenon of supervisory arbitrage at the financial services market. Basic relations between regulatory and supervisory arbitrage were discussed based on the distinguishing criteria (advantages in using differences between markets, origins motive, the motive of “hard” or “soft” approach to the supervision process occurrence). The scope of supervision authority operations entitlement, competencies and intensity determines this phenomenon scale and taking advantage of differences in supervisory restrictiveness level is, on the one hand, perceived as a natural phenomenon and, to a certain extent, understandable, however, on the other it may exert a negative impact on financial markets functioning, which has also been mentioned.
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Keywords: life expectancy; active life expectancy; health status indicators; health life years; stand alone policy
Demographic prognoses are not optimistic for Poland and Europe. The number of people over 80 will grow. Consequently, it means that the percentage of dependent people and people who need long-term care will grow. The paper presents selected indicators in the assessment of the population health status, in particular active life expectancy (ALE). This rate provides important information about health at a given population level. ALE can be used for making stand alone policy.
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Keywords: pension system; funded pension pillar
The principal aim of the paper is to analyse the changes in the pension system of the Czech Republic and Hungary. The first part briefly describes the main characteristics of the reforms in these countries in the XX century, which consisted in the inclusion of capital element to the hitherto functioning public system. The second part is concerned with the areas in which after the crisis of 2007-2009 these countries implemented far reaching reforms. The Czech Republic improved its system implementing a funded pension pillar, whereas Hungary closed and integrated it to the public system.
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Keywords: internationalization; mutual insurance company; insurance market
The article presents some directions of internationalization (mainly Europeanization) of insurance market. The study analyzed and evaluated three areas of internationalization of the insurance sector: foreign direct investment (FDI) in the share capital of the national insurance companies, internationalization, on the basis of the main branch and the internationalization of the freedom to provide services, with particular emphasis on mutual associations (MS). The research results were used to draw conclusions about the analyzed problem.
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Keywords: reinsurance; systemic risk; financial instability
The paper aims to carry out the analysis of reinsurers’ activity in the context of systemic risk. The main purpose of the work is the attempt to answer the question whether the failure of reinsurance companies may create financial instability and systemic risk, which could cause a spillover effect into the whole economy. This article contains the analysis of theoretical and empirical research of the papers and other reports. It also tries to prove that traditional reinsurance activity does not pose systematic risk. However, non-traditional activities of a reinsurance company, non-insurance activity of reinsurers, capital connectedness within insurance groups and financial conglomerates considerably increase the likelihood of posing systemic risk through these institutions.
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