Insuran
From Wikipedia
Insuran, dalam perundangan dan ekonomi, adalah bentuk pengurusan risiko terutamanya digunakan bagi jaminan terhadap risiko kemungkinan kerugian kewangan. Insuran ditakrifkan sebagai peralihan samarata risiko kemungkinan kerugian, daripada satu entiti kepada yang lain, sebagai pertukaran untuk bayaran dan tugas bagi penjagaan.
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[Sunting] Prinsip insuran
Tempoh atau berlakunya kerugian mesti pasti.
Kadar kerugian mestilah boleh dijangka: Agar dapat menetapkan premium (harga) yang menjamin mestilah mampu menganggar risiko dengan tepat. Sekiranya perlindungan itu unik, pemegang insuran akan membayar premium tinggi yang lebih seimbang. Lloyd's of London seringkali menerima perlindungan unik. (contoh., memberi perlindungan insuran kaki Tina Turner)
Kerugian mesti boleh dijangka pada tahap makro: Pengeluar insurance perlu tahu berapa banyak mereka perlu bayar apabila kejadian yang dilindung berlaku. Kebanyakan jenis insuran mempunyai tahap maksima bayaran, tetapi bukan semuanya ada, terutama insuran kesihatan.
Kerugian mestilah banyak: Prinsip perundangan De minimis menetapkan bahawa perkara remeh tidak dilindungi. Tambahan lagi, pengambil insuran yang rational (rational insurance) menggunakan insuran sedia ada apabila kos transaksi menetapkan bahawa mengisi tuntutan adalah tidak masuk akal.
Kerugian mestilah bukannya melapetaka: Sekiranya pengeluar insuran muflis (insolvent), ia tidak akan mampu membuat pembayaran kepada pengambil insuran. Di Amerika Syarikat, terdapat sistem Jaminan Dana yang kurang diketahui ramai untuk melindungi mereka yang syarikat insuran telah menjadi muflis. [1] Program ini dijendalikan oleh National Association of Insurance Commissioners (NAIC). [2]
[Sunting] Jaminan ganti rugi (Idemiti)
Sebarang entiti yang cuba mengalih risiko (perseorangan, korporate, atau sebarang bentuk persatuan) menjadi pihak 'pengambil insurans' sebaik sahaja risiko diambil alih oleh 'pengeluar insuran -insurer', pihak pembeli insuran menurut kontrak, ditakrifkan sebagai 'polisi' insuran. Kontrak perundangan ini menyatakan syarat dan terma (terms and conditions) menyatakan jumlah perlindungan (ganti rugi) yang akan diberikan kepada pembeli insuran, oleh pengeluar insuran sebaik sahaja menanggung risiko, sekiranya berlaku kerugian, dan kesemua bencana yang dilindungi (jaminan ganti rugi), bagi tempoh kontrak.
Apabila pihak pembeli insuran mengalami kerugian bagi bencana khusus, yang jaminan tersebut memberi hak kepada pemegang polisi bagi membuat 'tuntutan' terhadap pemberi insuran bagi jumlah yang ditetapkan oleh kontrak polisi. 'Yuran' yang dibayar oleh pembeli insuran kepada pemberi insuran bagi menangung risiko dikenali sebagai 'premium'. Permium insuran daripada ramai pelanggan digunakan bagi membiayai akaun dana yang diketepikan bagi pembayaran tuntutan akan datang - secara teori bagi sejumlah kecil penuntut - dan bagi kos overhed. Selagi pembekal insuran mengekalkan dana mencukupi yang diketepikan bagi kerugian yang dijangkakan, perbezaan baki menjadi untung mereka.
[Sunting] Bagaimana syarikat insuran mendapat keuntungan
Pelanggan mungkin membayar satu atau dua bayaran premium untuk satu jangka masa. Syarikat insuran mengutip bayaran ini daripada satu ataupun lebih pelanggan. Sekiranya sesuatu perkara berlaku yang memulakan tuntutan, syarikat kemudiannya akan membayar sejumlah wang tertentu. Sekiranya, dalam tempoh keseluruhan kontrak syarikat insuran, ia membayar kurang berbanding yang dikutipnya, ia menjadi apa yang dikenali sebagai keuntungan penajaan jamin. Satu ukuran prestasi syarikat insuran merupakan nisbah kerugian mereka (kerugian berlaku dan belanja pelarasan kerugian (loss-adjustment expenses) dibahagikan dengan premium bersih yang diperolehi). Nisbah rugi ditambah kepada nisbah perbelanjaan (belanja penajaaan jamin dibahagi dengan premium bersih yang diperolehi) untuk menentukan nisbah gabungan syarikat. Nisbah gabungan menunjukkan keuntungan penajaan jamin keseluruhan syarikat. Gabungan nisbah kurang daripada 100 peratus menunjukkan keuntungan, sementara apa-apa yeng melebihi 100 peratus adalah kerugian. Satu syarikat yang terkenal kerana mencapai keuntungan penajaan jamin adalah American International Group. Berkshire Hathaway, sebaliknya, terkenal kerana membuat wang mereka atas "apungan" berbanding keuntungan penajaan jamin. Apungan merupakan konsep di mana premium insuran dikutip awal, dan tuntutan dibayar bertempoh (kadang kala sehingga tempoh 10 tahun atu lebih), syarikat insuran mampu mengutip pendapatan wang pelaburan di atas wang yang mereka ketepikan bagi tuntutan yang belum dikemukakan, atau masih belum dibayar. Dalam tempoh masa, kadar faedah dikompaunkan menjadi jumlah besar, terutama bagi syarikat sebesar Berkshire Hathaway.
Dalam kebanyakan kes ratio gabungan syarikat melebihi 100 peratus, bagaimanapun syarikat masih mampu mendapat keuntungan. Ini adalah kerana antara masa syarikat mengutip premium dan masa pembayaran tuntutan, ia boleh melabur wang tersebut. Pulangan dari pelaburan ini mampu melebihi kerugian penajaan jamin dengan itu menghasilkan keuntungan. Sebagai contoh, sekiranya syarikat terpaksa membayar 10 peratus daripada yang dikutip, tetapi mendapat 20 peratus dari jumlah pelaburannya, ia masih mempunyai 10 peratus keuntungan. Bagaimanapun, kerana kebanyakan syarikat insuran menganggap ianya hanya bijak (dan mungkin diwajibkan melakukannya oelh undang-undang berkenaan perniagaan insuran dalam jajahan di mana ia beroperasi) untuk melabur dalam bebas risiko bon kerajaan, atau pelaburan bentuk pulangan rendah dan berisiko rendah, ia adalah penting bahawa jumlah lebihan ia harus bayar berbanding apa yang ia kutip adalah lebih rendah berbanding peratus pulangan dari pelaburan ini. Sekiranya ia tidak mencukupi, syarikat akan kerugian wang. Jumlah lebihan yang perlu dibayar oleh syarikat boleh di anggap "kos dana - (cost of funds)" dan dibandingkan dengan kadar faedah peminjaman wang oleh syarikat yang sama. Disebabkan ini, kebanyakan syarikat insuran tidak hanya mempunyai matlamat keuntungan melebihi kos dana, tetapi cenderung bagi memiliki kos danan ini lebih rendah berbanding dengan apa yang ia boleh dapat dengan meminjam dari tempat lain. Sekiranya ia tidak berlaku, syarikat insuran tidak menambah nilai kepada pemiliknya, yang secara teori mampu membuat pinjaman wang dari tempat lain dan membuat pelaburan yang sama.
[Sunting] Penentuan kadar struktur premium
Pemberi insuran menggunakan sains actuarial untuk mengukur risiko yang mereka sanggup terima. Data dihasilkan untuk menganggar tuntutan masa hadapan, biasanya dengan ketepatan yang boleh diterima. Sains actuarial menggunakan statistik dan kebangkalian untuk menganalisa risiko berkait dengan ancaman yang dilindungi, dan prinsip saintifik ini digunakan oleh yang menginsur, bersama dengan faktor tambahan, bagi menentukan struktur kadar premium.
Sebagai contoh, kebanyakan pemilik rumah persendirian membeli polisi insuran pemilik rumah dengan menandatangani kontrak membayar premium kepada syarikat insuran. Sekiranya berlaku kerugian yang dijamin, syarikat insuran diwajibkan oleh syarat kontrak untuk memenuhi tuntutan pepbeli insuran. Bagi sesetengah pemegang polisi, jumlah keuntungan insuran yang diterima daripada syarikat insuran akan melebihi jumlah premium yang dibayar. Yang lain mungkin tidak pernah membuat tuntutan atau menerima sebarang kebaikan selain ketenangan fikiran yang di berikan oleh jaminan polisi insuran . Apabila secara purata, jumlah kos tuntutan dibayar oleh syarikat insuran sepatutnya kurang berbanding premium keseluruhan yang dibayar oleh pemegang polisi insuran mereka, dengan perbezaan dikhususkan bagi belanja overhed dan keuntungan.
Syarikat insuran turut mendapat keuntungan pelaburan. Ia dihasilkan dengan melabur premium yang diterima sehingga ia diperlukan bagi membayar tuntutan. Wang ini juga dikenali sebagai 'apungan'. Pemberi insuran mampu mendapat keuntungan atau kerugian daripada pertukaran nilai dalam apungan termasuk juga faedah atau dividen pada apungan. Di Amerika Syarikat, kerugian penajaan jamin harta tanah dan korban syarikat insuran adalah sekitar $142.3 bilion dalam tempoh lima tahun berakhir 2003. Tetapi keuntungan keseluruhan untuk tempoh masa yang sama adalah $68.4 bilion, hasil apungan. Sesetengah orang dalam industri insuran, terutamanya Hank Greenberg, tidak percaya bahawa ianya tidak mungkin untuk mengekalkan keuntungan daripada apungan tanpa keuntungan jaminan taja juga.
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Ramai orang tersilap mengangap insuran sebagai sejenis judi (terutama yang dikaitkan dengan bahaya moral) yang berlaku sepanjang tempoh polisi. Syarikat insuran berjudi bahawa seseorang atau harta seseorang tidak akan kerugian sementara pembeli insuran meletakkan duit pada sebaliknya. The difference in the fees paid to the insurance company versus the amount for which they can be held liable if an accident happens is roughly analogous to the odds one might expect when betting on a racehorse (for example, 10 to 1). For this reason, a number of religious groups, including the Amish and Muslims, avoid insurance and instead depend on support provided by their communities when disasters strike. This can be thought of as "social insurance," as the risk of any given person is assumed collectively by the community who will all bear the cost of rebuilding. In closed, supportive communities where others can be trusted to step in to rebuild lost property, this arrangement can work.
However, most societies could not effectively support this type of system, and the system will not work for large risks. For very large risks, Western insurance can also run into difficulties. This is the reason why most homeowner's insurance does not cover floods. A company that sells homeowner's insurance in a given city can accurately estimate the number of claims it would have to pay due to fires, tornadoes, and other smaller-scale disasters. However, a flood may impact a large percentage of the city and the company might be unable to deal with this. A prime example of this is the flooding in New Orleans as a result of Hurricane Katrina. For the same reason, losses due to war and earthquakes are generally excluded. In the case of floods and earthquakes (which are smaller-scale than war) homeowners can purchase separate insurance from national companies with larger resources, which are able to distribute the risk across regions rather than individual buildings.
In gaming or gambling, the game is fixed at the start so that the odds are not affected by the players. However, to obtain certain types of insurance, such as fire insurance, policyholders are often required to conduct risk mitigation practices, such as installing sprinklers and using fireproof building materials to reduce the odds of loss to fire. In addition, after a proven loss, insurers specialize in providing rehabilitation to minimize the total loss.
While insurance is analogous to gambling in terms of risk and reward, the main difference is in the motivation behind the process (risk seeking vs. risk avoidance). When gambling, you are assuming risk that you would not otherwise be exposed to that has the possibility of either a loss or a gain (speculative risk). With insurance, you are managing risk that you could not otherwise avoid, and which does not present the possibility of gain (pure risk).
Historically, gambling has been considered an uninsurable risk. Recent developments, however, have lead to the invention and patenting of new types of insurance to protect against gambling losses. An example is United States Patent 6,869,362, "Method and apparatus for providing insurance policies for gambling losses"
[Sunting] Sejarah insuran
Early methods of transferring or distributing risk were practiced by Babylonian traders as long ago as the 2nd millennium BCE. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen.
A thousand years later, the inhabitants of Rhodes invented the concept of the 'general average'. Merchants whose goods were being shipped together would pay a proportionally divided premium which would be used to reimburse any merchant whose goods were jettisoned during storm or sinkage.
The Greeks and Romans introduced the origins of health and life insurance c. 600 AD when they organized guilds called "benevolent societies" which acted to care for the families and funeral expenses of members upon death. Guilds in the Middle Ages served a similar purpose. The Talmud deals with several aspects of insuring goods.
Insurance became far more sophisticated in post-Renaissance Europe, and specialized varieties developed.
Toward the end of the seventeenth century, the growing importance of London as a center for trade led to rising demand for marine insurance. In the late 1680s, Mr. Edward Lloyd opened a coffee house which became a popular haunt of ship owners, merchants, and ships’ captains, and thereby a reliable source of the latest shipping news. It became the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures. Today, Lloyd's of London remains the leading market for marine and other specialist types of insurance, but it works rather differently than the more familiar kinds of insurance.
Insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured 13,200 houses. In the aftermath of this disaster Nicholas Barbon opened an office to insure buildings. In 1680 he established England's first fire insurance company, "The Fire Office," to insure brick and frame homes.
The first insurance company in the United States provided fire insurance and was formed in Charles Town (modern-day Charleston), South Carolina, in 1732.
Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly against fire in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.
In the United States, regulation of the insurance industry is highly Balkanized, with primary responsibility assumed by individual State insurance departments. Whereas insurance markets have become centralized nationally and internationally, state insurance commissioners operate individually, though at times in concert through a national insurance commissioner's organization. In recent years, some have called for a federal regulatory system for insurance similar to that of the banking industry.
In the State of New York, which has unique laws in keeping with its stature as a global business center, Attorney General Eliot Spitzer has been in a unique position to grapple with major national insurance brokerages. Spitzer alleged that Marsh & McLennan steered business to insurance carriers based on the amount of contingent commissions that could be extracted from carriers, rather than basing decisions on whether carriers had the best deals for clients. Several of the largest commercial insurance brokerages have since stopped accepting contingent commissions and have adopted new business models.
[Sunting] Jenis insuran
Any risk that can be quantified probably has a type of insurance to protect it. Among the different types of insurance are:
- Automobile insurance, also known as auto insurance, car insurance and in the UK as motor insurance, is probably the most common form of insurance and may cover both legal liability claims against the driver and loss of or damage to the vehicle itself. Over most of the United States purchasing an auto insurance policy is required to legally operate a motor vehicle on public roads. Recommendations for which policy limits should be used are specified in a number of books.
- Casualty insurance insures against accidents, not necessarily tied to any specific property.
- Credit insurance pays some or all of a loan back when certain things happen to the borrower such as unemployment, disability, or death.
- Financial loss insurance protects individuals and companies against various financial risks. For example, a business might purchase cover to protect it from loss of sales if a fire in a factory prevented it from carrying out its business for a time. Insurance might also cover failure of a creditor to pay money it owes to the insured. Fidelity bonds and surety bonds are included in this category.
- Health insurance covers medical bills incurred because of sickness or accidents.
- Liability insurance covers legal claims against the insured. For example, a homeowner's insurance policy provides the insured with protection in the event of a claim brought by someone who slips and falls on the property, and brings a lawsuit for her injuries. Similarly, a doctor may purchase liability insurance to cover any legal claims against him if his negligence (carelessness) in treating a patient caused the patient injury and/or monetary harm. The protection offered by a liability insurance policy is two-fold: a legal defense in the event of a lawsuit commenced against the policyholder, plus indemnification (payment on behalf of the insured) with respect to a settlement or court verdict.
- Life insurance provides a cash benefit to a decedent's family or other designated beneficiary, and may specifically provide for burial and other final expenses.
- Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies and regulated as insurance. Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources. In that sense, they are the complement of life insurance.
- Total permanent disability insurance insurance provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.
- Locked Funds Insurance is a little known hybrid insurance policy jointly issued by governments and banks. It is used to protect public funds from tamper by unauthorised parties. In special cases, a government may authorise its use in protecting semi-private funds which are liable to tamper. Terms of this type of insurance are usually very strict. As such it is only used in extreme cases where maximum security of funds is required.
- Marine Insurance covers the loss or damage of goods at sea. Marine insurance typically compensates the owner of merchandise for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier.
- Nuclear incident insurance - damages resulting from an incident involving radioactivive materials is generally arranged at the national level. (For the United States, see Price-Anderson Nuclear Industries Indemnity Act.)
- Political risk insurance can be taken out by businesses with operations in countries in which there is a risk that revolution or other political conditions will result in a loss.
- Professional Indemnity Insurance is normally a mandatory requirement for professional practitioners such as Architects, Lawyers, Doctors and Accountants to provide insurance cover against potential negligence claims. Non licensed professionals may also purchase malpractice insurance, it is commonly called Errors and Omissions Insurance and covers a service provider for claims made against them that arise out of the performance of specified professional services. For instance, a web site designer can obtain E&O insurance to cover them for certain claims made by third parties that arise out of negligent performance of web site development services.
- Property insurance provides protection against risks to property, such as fire, theft or weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance.
- Terrorism insurance
- Title insurance provides a guarantee that title to real property is vested in the purchaser and/or mortgagee, free and clear of liens or encumbrances. It is usually issued in conjunction with a search of the public records done at the time of a real estate transaction.
- Travel insurance is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses and theft.
- Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expense incurred due to a job-related injury.
A single policy may cover risks in one or more of the above categories. For example, car insurance would typically cover both property risk (covering the risk of theft or damage to the car) and liability risk (covering legal claims from say, causing an accident). A homeowner's insurance policy in the US typically includes property insurance covering damage to the home and the owner's belongings, liability insurance covering certain legal claims against the owner, and even a small amount of health insurance for medical expenses of guests who are injured on the owner's property.
Potential sources of risk that may give rise to claims are known as "perils". Examples of perils might be fire, theft, earthquake, hurricane and many other potential risks. An insurance policy will set out in details which perils are covered by the policy and which are not.
[Sunting] Glossari
- 'Combined Ratio' = loss ratio + expense ratio. Loss Ratio is calculated by dividing the amount of losses by the amount of written premium. Expense ratio is calculated by dividing the amount of operational expenses by the amount of earned premium. A lower number indicates a better return on the amount of capital placed at risk by an insurer.
