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Transactions: INTERNATIONAL JOURNAL of MATHEMATICAL MODELS AND METHODS IN APPLIED SCIENCES
Transactions ID Number: 19-690
Full Name: Lenka Preckova
Position: Assistant Professor
Age: ON
Sex: Female
Address: Univerzitni nam. 1934/3, 733 40 Karvina
Country: CZECH REPUBLIC
Tel: +420 602 320 420
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E-mail address: lpreckova@volny.cz
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Title of the Paper: asymmetry of information during the application of the model for valuation the sum insured in case of business interruption in the czech republic
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Number of paper pages: 8
Abstract: The article titled as Asymmetry of information in the model for valuation the sum insured in case of business interruption in the Czech Republic is focused on identification closed information, which affects correct application of estimative model. Model result is an insured value entering a policy as the sum insured. The information creates asymmetry on the market, which can dramatically affect the amount of sum insured and the amount of the premium and the benefit. The identification these asymmetry of information is contained in the paper too. The aim of the article is the characteristics of asymmetric information and the determination of influence on the amount of the sum insured when arranging the policy for business interruption. The theoretical part comprises of critical analysis of literature and law valid in the Czech Republic. The practical part includes analysis and comparison of information intended for application of a given model which is applied cons!
equently and the insured value is set accordingly. The influence of each variable of the calculation ion the insured value is calculated and compared.
Keywords: Insured value, Sum insured, Asymmetric information, Business interruption, Underinsurance, Overinsurance, Profit and loss account, Direct damage, Consequential damage, Risk management
EXTENSION of the file: .pdf
Special (Invited) Session: Influence of information on insured value in case of business interruption on the territory of the Czech Republic
Organizer of the Session: 648-166
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