| Title | Protect Institution or "Protect Elderly"?-An Discussion about the Choice of Risk Transfer Technology for Endowment Service Institution |
|---|---|
| ID_Doc | 66398 |
| Authors | Huang, WD; Zhou, YL |
| Title | Protect Institution or "Protect Elderly"?-An Discussion about the Choice of Risk Transfer Technology for Endowment Service Institution |
| Year | 2013 |
| Published | |
| Abstract | With the increasing tendency of the socialized endowment and the aging of the population, highly promote the development of the institutions endowment business is inevitable. Mostly endowment service institutions are facing lots of risks at currently, because of the particularity of their business object and the nature of institutions. So it's hard to make any progress on the road of sustainable advancement. Under the pressure of "the elders accidental injury risk" -one of the mainly risk lays in the operational risks, Chineseendowment service institutions are in the way to explore a variety of measurements for risk transferring in recent years. Regardless of format exemption contract or unified model agreement, earlier attempts which try to transfer risk turned out to be a kind of shirking responsibility. They mostly based on negative risk selection, which in turnbringing a large number of disputes and lawsuits concerning the responsibility and damage compensation. A policy insurance mechanism, which been pushed by the government across the country has been carried out since 2007. When facing the dilemma of risk transfer and in order to promote the healthy development of endowment service institution and then help the elders "live a good life". And now days several researchesfocus on it have played a role in promoting institutions endowment business. However, after we summarized the experience based on the 8 main pilot areas, we found out that the growth of this special insurance industry is quite extensive. Due to it's hard to tell apart the basic issues, such as "Liability Insurance" or "Accident Insurance", "Civil liability" or "Insurance liability". Therefore, in the paper we put forward several reform strategies, which including clarify the coverage of the comprehensive liability insurance, broaden the insurance liability or limited civil liability, toreform the rate of the endowment insurance, to improve the insurance coverage and so on. |
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