Risk Management and Major Reserve at Vietnamese Insurance Companies
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 06
Abstract
Through methodology and meta-analysis, the research team presented the content of risk, risk management in insurance enterprises and regulations, methods, and bases for setting up professional provisions. The article also identifies some limitations in regulations on setting up professional reserves at insurance enterprises. There are many methods but there are no specific instructions in the regulations, causing difficulties and a lack of legitimacy for the risk management department to evaluate the provision at the enterprise. Using the basis of deduction such as the 1980 CSO mortality table is no longer suitable for the human body in Vietnam and the current situation. Law there is no provision on provision for compensation for applications that have refused to pay within 3 years from the date of refusal. Finally, the research team believes that, in order to improve the effectiveness of risk management, the setting up of professional provisions should have some changes in regulations such as specifying the methods of provisioning, building a Mortality rate suitable to the human body in Vietnam and put into practice as a basis for making professional provision is very necessary or supplementing the requirement that insurers must make a claim reserve within a short period of time 3 years from the year the insurance enterprise refuses the application for insurance payment.
Authors and Affiliations
Nguyen Zen Nguyen, Duc Hieu Bui
Keywords
Related Articles
- EP ID EP727180
- DOI 10.47191/jefms/v6-i6-58
- Views 56
- Downloads 0
The Influence of Organizational Culture, School Principal Leadership, and Work Environment on Organizational Commitment Through Job Satisfaction (Case Study of Junior High School, Landak District, West Kalimantan)
The aim of this research is; 1) analyze the influence of organizational culture, principal leadership, and work environment on Job Satisfaction in Junior High School, Landak District, West Kalimantan; 2) analyzing the in...
Tax Aggressiveness: Financial Distress and Risk Management Committee
This study aims to examine the effect of financial distress and the Risk Management Committee on tax aggressiveness. This study uses quantitative and secondary data in the form of data on manufacturing companies listed o...
The Contribution School Management Based on Educational Quality Report to Increase the Quality of Basic Education Banten Province
The government has consistently attempted to enhance education quality. Effective school administration is required to improve educational quality by focusing on Competency, Content, Process, Educators, Infrastructure, a...
Entrepreneurship Creative Projects as an Effort to Improve interest in Entrepreneurship Students
Entrepreneurship can be a solution in reducing poverty in Indonesia, especially if it is carried out in accordance with the principles of entrepreneurship. The latest models, forms and styles (trends) of entrepreneurship...
The Effect of Using Social Media on Job Satisfaction: Is There A Role for Job Engagement and Organization Engagement As a Mediator?
This study aims to determine how the influence of the use of social media (Work-related social media use) and social media (Social-related social media use) on job satisfaction. In addition, to find out how the role of w...