(2) such insurance fund operation as guarantee, financing and investment, etc.

Most of these new insurers utilize private reinsurance to leverage their capital resources.

250. The main fund financing social security expenditures, the Social Insurance Fund, was planned to cover expenses from collected contributions.

violating the regulations governing the application of the funds of the insurance company

The payment of pensions is financed by social insurance contribution payments (the state social insurance special budget).

57. The self insurance fund balance is invested by the United Nations Treasury based upon instructions from the Insurance Section.

Article 98 For those insurance companies engaged in property insurance business, the premiums retained for the current year shall not exceed more than four times the combined total of its paid up capital and its accumulated reserve fund.

197. Disability pensions are financed from the Social Insurance Fund and, in the case of farmers, from the Farmers apos Fund.

If the sum insured is less than the insured value, the insurer shall obtain partial rights pertaining to the subject matter of the insurance which is lost or damaged on the pro rata basis of the sum insured to the insured value.

In accordance with the Law On Maternity and Sickness Insurance the maternity benefit is granted in the amount of 100 of the average insurance contribution wage of the beneficiary.

The payment of disability pensions is financed from the social insurance contribution payments (the state social insurance special budget.

The payment of survivor's pensions is financed from the social insurance contribution payments (the state social insurance special budget).

Under the Law On Maternity and Sickness Insurance a sickness benefit is granted and paid in the amount of 80 of the insured person's monthly average insurance contribution wage.

Course 1 EUR 1.95583 BAM

A double insurance refers to insurance under which an applicant enters into insurance contracts with two or more insurers on the same subject matter of the insurance, the same insurable interests and the same insured event.

The second tier of the pension system the compulsory funded State pension scheme is based on the principle of investing individual social insurance contribution payments, providing that part of the person's social insurance contribution payments for old age pensions will be invested.

The purpose of the fund is to finance accident, sickness and maternity insurance benefits.

and the Labour Fund. The first two funds finance most pension expenditures and social insurance allowances.

The sum insured refers to the maximum amount which the insurer undertakes to indemnify or pay under its insurance obligation.

Unless otherwise specified in the contract, in the event that the sum insured is less than the insured value, the insurer shall undertake the obligation for indemnity pro rata of the sum insured to the insured value.

55. Social security benefits in Iceland are financed largely through taxation.

The specific fund application and the exact percentage of an insurance company's total fund allocated to each of them shall be stipulated by the financial supervision and regulation department.

The sickness benefit paid is equal to 80 of the average monthly wage from which the insured person is making insurance contribution.

249. Most social security expenditures are financed from the central budget and from special funds of this budget the Social Insurance Fund, the Pension Fund In 1993 the Social Insurance Fund financed the majority of pension benefits and non agricultural allowances and the Pension Fund financed agricultural pension benefits.

In 2002, for example, the income thresholds for the Premium Subsidy program were increased, which made it easier for individuals and families to qualify for premium subsidy.

14. On the issue of insurance coverage for the Fund s investments in equities,8 the Pension Board noted that the Board of Auditors had considered that the assets of the Fund had not been adequately protected and had recommended that the contracts with the Fund s custodians should be reviewed, with a view to providing adequate insurance coverage.

The EXIM Bank provides credits to overseas investments through the Overseas Investment Facility, and an Overseas Investment Insurance scheme is run by the Malaysia Export Credit Insurance Berhad to cover political risks.

Sum insured

Finance and insurance

Reserve for insurance

What insurance money?

51. In UNJSPF, the Board considered that the insurance coverage of the Fund, with assets totalling 13.5 billion under the custody or control of various custodians, was inadequate given that percentage of insurance to total assets ranged from 0.2 to 8.2 per cent.

A supplementary funded pension is a benefit for the receipt of which units of a voluntary pension fund are acquired or an insurance contract for a supplementary funded pension is entered into.

Also, most social security benefits are adjusted upwards to follow prices and salaries wages.

Article 65 When a contract stipulates death as the prerequisite for the payment of the insurance benefits then the insurer shall have no obligation for the payment of the insurance benefits if the insured commits suicide, except for the event stipulated in paragraph two of this Article.

This includes expenditure by private health insurance funds (7.3 per cent) and by individuals (19.7 per cent).

256. In 1985 social security expenditures were totally financed by the State budget.

Article 33 Joint stock insurance companies, joint stock insurance holding (group) companies, exclusively foreign funded insurance companies and Sino foreign joint venture insurance companies shall be subject to the present Guidelines, while exclusively state owned insurance companies, branches of foreign insurance companies and insurance assets management companies shall be under the present Guidelines by analogy.

the applicant deliberately falsifying the subject matter of the insurance, whereupon an insurance claim is fraudulently made

Article 45 If the insured waives the right of indemnity against the third party after the occurrence of the insured event and before the insurer making the indemnity, the insurer shall bear no obligation for indemnity.

Article 63 In the event of the death of the insured, the payment of the insurance benefits shall be treated as part of the estate of the insured, and the insurer shall pay the insurance benefits to the legal heirs of the insured, if

192. Pension insurance.

falsely alleging the occurrence of an insured event which in fact has not occurred, whereupon an insurance claim is fraudulently made

The funds of an insurance company shall not be applied to the establishment of any entity to trade bonds or securities or investment in enterprises.

The greater the risk, either the higher the premium that investors require, or if it is deemed unacceptable, tohey seek other destinations for their investment.