Insurance terminology and risk management.
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.
Sports betting is the general activity of predicting sports results by making a wager on the outcome of a sporting event.
Aside from simple wagers–betting a friend that one’s favorite baseball team will win its division, for instance, or buying a football “square” for the Super Bowl–sports betting is commonly done through a bookmaker. Bookmakers generally offer two types of wagers on the winner of a sporting event: a straight-up or money line bet, or a point spread wager. Moneylines and straight-up prices are used to set odds on sports such as soccer, baseball and hockey (the scoring nature of which renders point spreads impractical) as well as individual vs. individual matches, like boxing.
Gambling as a betting action – wagering money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money or material goods.
A guide about what is gambling (with a special section for online gambling), casino games with both beatable casino games (poker , blackjack, video poker with progressive jackpot, pai gow poker, betting, horse racing – parimutuel, slot machines and other gambling machines) and unbeatable casino games (baccarat, craps, roulette, keno, casino war, faro, pachinko, sic bo, let it ride, 3-card poker, 4-card poker, red dog, Caribbean stud poker, etc.), and non-casino gambling games (bingo, lottery, mahjong, backgammon, bridge, etc.).
Fixed-odds gambling in sports is also present in this book with horse racing, greyhound racing, football (particularly association football, American football and rugby), golf, tennis, cricket, baseball, basketball, ice hockey, snooker, motor sports, boxing, darts, cross-country skiing and biathlon. Please, don’t forget to take a look to the legality of the gambling and online gambling, as well as to the articles, warnings and links dedicated to the gambling addiction. Extreme cases of problem gambling may cross over into the realm of mental disorders.
A detailed guide of everything you want and need to know about fish.
A fish is a water-dwelling vertebrate with gills that doesn”t change form, as amphibians do, during its life. Most are cold-blooded, though some (such as some species of tuna and shark) are warm-blooded. There are over 29,000 species of fish, making them the most diverse group of vertebrates. Fishing is the activity of hunting for fish. Fishing is a very ancient practice that dates back at least to the Mesolithic period which began about 10,000 years ago.
Fishing is the activity of hunting for fish. By extension, the term fishing is also applied to hunting for other aquatic animals such as various types of shellfish as well as squid, octopus, turtles, frogs and some edible marine invertebrates. Fish as a food describes the edible parts of water-dwelling, cold-blooded vertebrates with gills, as well as certain other water-dwelling animals such as mollusks, crustaceans, and shellfish. An aquarium (plural aquariums or aquaria) is a vivarium, usually contained in a clear-sided container (typically constructed of glass or high-strength plastic) in which water-dwelling plants and animals (usually fish, and sometimes invertebrates, as well as amphibians, marine mammals, and reptiles) are kept in captivity, often for public display; or it is an establishment featuring such displays. A detailed guide of everything you want and need to know about fish.
An introduction to interpersonal relationship – methods, advice and tips for friendship, dating and online dating, intimate relationship, love and kiss, flirting, seduction, romance, marriage and wedding.
Interpersonal relationships are social associations, connections, or affiliations between two or more people. They vary in differing levels of intimacy and sharing, implying the discovery or establishment of common ground, and may be centered around something(s) shared in common. The study of relationships is of concern to sociology, psychology and anthropology. Dating is a form of courtship consisting of social activities done by two persons with the aim of each assessing the other’s suitability as a partner in an intimate relationship or as a spouse.
The e-book details the most interesting and important characteristics of the automobiles, car maintenance, styling features, car body style, the standard classification of the cars, an history of the automobiles, introduction in the automotive industry, and the traffic code, rules and signs.
An automobile, usually called a car (an old word for carriage) or a truck, is a wheeled vehicle that carries its own engine. Older terms include horseless carriage and motor car, with “motor” referring to what is now usually called the engine. It has seats for the driver and, almost without exception, for at least one passenger. The automobile was hailed as an environmental improvement over horses when it was first introduced. Before its introduction, in New York City, over 10,000 tons of manure had to be removed from the streets daily. However, in 2006 the automobile is one of the primary sources of worldwide air pollution and cause of substantial noise and health effects.
The book is an overview of the major subfields and concepts in physics, including a brief outline of the history of physics and its subfields.
Physics (from Greek from φυσικός (phusikos): natural, from φύσις (fysis): Nature) is the science of Nature in the broadest sense. Physicists study the behaviour and interactions of matter and radiation. Theories of physics are generally expressed as mathematical relations. Well-established theories are often referred to as physical laws or laws of physics; however, like all scientific theories, they are ultimately provisional. Physics is very closely related to the other natural sciences, particularly chemistry. The book is an overview of the major subfields and concepts in physics, including a brief outline of the history of physics and its subfields.
https://www.telework.ro/en/e-books/physics-help/
A guide for the cat lovers about the cat behavior, cat attractants, cat breeds, cat health and food, type of cats, cats as pets, fictional cats, films about cats, historical cats. A book full with pictures of the most important cat breeds, tips and advice for cat behavior, cat diseases and how to take care of the cats.
The cat, also called the domestic cat or house cat, is a small feline carnivorous mammal of the subspecies Felis silvestris catus. Its most immediate pre-domestication ancestor is the African wild cat, Felis silvestris lybica. The cat has been living in close association with humans for at least 3,500 years; the Ancient Egyptians routinely used cats to keep mice and other rodents (mostly rats) away from their grain (and also believed that cats were sacred to the goddess Bastet). The history of the domestic cat may stretch back even further, as 8,000-year-old bones of humans and cats were found buried together on the island of Cyprus.
An animated cartoon is a short, hand-drawn (or made with computers to look similar to something hand-drawn) moving picture for the cinema, TV or computer screen, featuring some kind of story or plot.
Animation is the optical illusion of motion created by the consecutive display of images of static elements. In film and video production, this refers to techniques by which each frame of a film or movie is produced individually. Computer animation is the art of creating moving images via the use of computers. It is a subfield of computer graphics and animation. Anime is a medium of animation originating in Japan, with distinctive character and background aesthetics that visually set it apart from other forms of animation. An animated cartoon is a short, hand-drawn (or made with computers to look similar to something hand-drawn) moving picture for the cinema, TV or computer screen, featuring some kind of story or plot (even if it is a very short one). Manga is the Japanese word for comics and print cartoons. Outside of Japan, it usually refers specifically to Japanese comics. Special effects (abbreviated SPFX or SFX) are used in the film, television, and entertainment industry to visualize scenes that cannot be achieved by normal means, such as space travel. Stop motion is a generic gereral term for an animation technique which makes static objects appear to move.
Sports betting is the general activity of predicting sports results by making a wager on the outcome of a sporting event.
Aside from simple wagers–betting a friend that one’s favorite baseball team will win its division, for instance, or buying a football “square” for the Super Bowl–sports betting is commonly done through a bookmaker. Bookmakers generally offer two types of wagers on the winner of a sporting event: a straight-up or money line bet, or a point spread wager. Moneylines and straight-up prices are used to set odds on sports such as soccer, baseball and hockey (the scoring nature of which renders point spreads impractical) as well as individual vs. individual matches, like boxing.
Gambling as a betting action – wagering money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money or material goods.
A guide about what is gambling (with a special section for online gambling), casino games with both beatable casino games (poker , blackjack, video poker with progressive jackpot, pai gow poker, betting, horse racing – parimutuel, slot machines and other gambling machines) and unbeatable casino games (baccarat, craps, roulette, keno, casino war, faro, pachinko, sic bo, let it ride, 3-card poker, 4-card poker, red dog, Caribbean stud poker, etc.), and non-casino gambling games (bingo, lottery, mahjong, backgammon, bridge, etc.).
Fixed-odds gambling in sports is also present in this book with horse racing, greyhound racing, football (particularly association football, American football and rugby), golf, tennis, cricket, baseball, basketball, ice hockey, snooker, motor sports, boxing, darts, cross-country skiing and biathlon. Please, don’t forget to take a look to the legality of the gambling and online gambling, as well as to the articles, warnings and links dedicated to the gambling addiction. Extreme cases of problem gambling may cross over into the realm of mental disorders.
A detailed guide of everything you want and need to know about fish.
A fish is a water-dwelling vertebrate with gills that doesn”t change form, as amphibians do, during its life. Most are cold-blooded, though some (such as some species of tuna and shark) are warm-blooded. There are over 29,000 species of fish, making them the most diverse group of vertebrates. Fishing is the activity of hunting for fish. Fishing is a very ancient practice that dates back at least to the Mesolithic period which began about 10,000 years ago.
Fishing is the activity of hunting for fish. By extension, the term fishing is also applied to hunting for other aquatic animals such as various types of shellfish as well as squid, octopus, turtles, frogs and some edible marine invertebrates. Fish as a food describes the edible parts of water-dwelling, cold-blooded vertebrates with gills, as well as certain other water-dwelling animals such as mollusks, crustaceans, and shellfish. An aquarium (plural aquariums or aquaria) is a vivarium, usually contained in a clear-sided container (typically constructed of glass or high-strength plastic) in which water-dwelling plants and animals (usually fish, and sometimes invertebrates, as well as amphibians, marine mammals, and reptiles) are kept in captivity, often for public display; or it is an establishment featuring such displays. A detailed guide of everything you want and need to know about fish.
An introduction to interpersonal relationship – methods, advice and tips for friendship, dating and online dating, intimate relationship, love and kiss, flirting, seduction, romance, marriage and wedding.
Interpersonal relationships are social associations, connections, or affiliations between two or more people. They vary in differing levels of intimacy and sharing, implying the discovery or establishment of common ground, and may be centered around something(s) shared in common. The study of relationships is of concern to sociology, psychology and anthropology. Dating is a form of courtship consisting of social activities done by two persons with the aim of each assessing the other’s suitability as a partner in an intimate relationship or as a spouse.
The e-book details the most interesting and important characteristics of the automobiles, car maintenance, styling features, car body style, the standard classification of the cars, an history of the automobiles, introduction in the automotive industry, and the traffic code, rules and signs.
An automobile, usually called a car (an old word for carriage) or a truck, is a wheeled vehicle that carries its own engine. Older terms include horseless carriage and motor car, with “motor” referring to what is now usually called the engine. It has seats for the driver and, almost without exception, for at least one passenger. The automobile was hailed as an environmental improvement over horses when it was first introduced. Before its introduction, in New York City, over 10,000 tons of manure had to be removed from the streets daily. However, in 2006 the automobile is one of the primary sources of worldwide air pollution and cause of substantial noise and health effects.
The book is an overview of the major subfields and concepts in physics, including a brief outline of the history of physics and its subfields.
Physics (from Greek from φυσικός (phusikos): natural, from φύσις (fysis): Nature) is the science of Nature in the broadest sense. Physicists study the behaviour and interactions of matter and radiation. Theories of physics are generally expressed as mathematical relations. Well-established theories are often referred to as physical laws or laws of physics; however, like all scientific theories, they are ultimately provisional. Physics is very closely related to the other natural sciences, particularly chemistry. The book is an overview of the major subfields and concepts in physics, including a brief outline of the history of physics and its subfields.
https://www.telework.ro/en/e-books/physics-help/
A guide for the cat lovers about the cat behavior, cat attractants, cat breeds, cat health and food, type of cats, cats as pets, fictional cats, films about cats, historical cats. A book full with pictures of the most important cat breeds, tips and advice for cat behavior, cat diseases and how to take care of the cats.
The cat, also called the domestic cat or house cat, is a small feline carnivorous mammal of the subspecies Felis silvestris catus. Its most immediate pre-domestication ancestor is the African wild cat, Felis silvestris lybica. The cat has been living in close association with humans for at least 3,500 years; the Ancient Egyptians routinely used cats to keep mice and other rodents (mostly rats) away from their grain (and also believed that cats were sacred to the goddess Bastet). The history of the domestic cat may stretch back even further, as 8,000-year-old bones of humans and cats were found buried together on the island of Cyprus.
An animated cartoon is a short, hand-drawn (or made with computers to look similar to something hand-drawn) moving picture for the cinema, TV or computer screen, featuring some kind of story or plot.
Animation is the optical illusion of motion created by the consecutive display of images of static elements. In film and video production, this refers to techniques by which each frame of a film or movie is produced individually. Computer animation is the art of creating moving images via the use of computers. It is a subfield of computer graphics and animation. Anime is a medium of animation originating in Japan, with distinctive character and background aesthetics that visually set it apart from other forms of animation. An animated cartoon is a short, hand-drawn (or made with computers to look similar to something hand-drawn) moving picture for the cinema, TV or computer screen, featuring some kind of story or plot (even if it is a very short one). Manga is the Japanese word for comics and print cartoons. Outside of Japan, it usually refers specifically to Japanese comics. Special effects (abbreviated SPFX or SFX) are used in the film, television, and entertainment industry to visualize scenes that cannot be achieved by normal means, such as space travel. Stop motion is a generic gereral term for an animation technique which makes static objects appear to move.
A comprehensive guide of chess: history, famous games and players, rules, strategy, tactics, chess and the computer, documentation and literature, variants.
Chess (the “Game of Kings”) is a board game for two players, which requires 32 chesspieces (or chessmen) and a board demarcated by 64 squares. Gameplay does not involve random luck; consisting solely of strategy, (see also tactics, and theory). Chess is one of humanity’s more popular games; it is has been described not only as a game, but also as both art and science. Chess is sometimes seen as an abstract wargame; as a “mental martial art”.
A comprehensive guide of chess: history, famous games and players, rules, strategy, tactics, chess and the computer, documentation and literature, variants.
Chess (the “Game of Kings”) is a board game for two players, which requires 32 chesspieces (or chessmen) and a board demarcated by 64 squares. Gameplay does not involve random luck; consisting solely of strategy, (see also tactics, and theory). Chess is one of humanity’s more popular games; it is has been described not only as a game, but also as both art and science. Chess is sometimes seen as an abstract wargame; as a “mental martial art”.
A guide for online marketers, advertisers and publishers, to increase the digital marketing and optimize their costs and benefits.
Internet marketing, also known as digital marketing, web marketing, online marketing, search marketing or e-marketing, is the marketing (generally promotion) of products or services over the Internet. Search engine optimization (SEO) is a set of methods aimed at improving the ranking of a website in search engine listings.
Generally speaking, advertising is the promotion of goods, services, companies and ideas, usually by an identified sponsor. Marketers see advertising as part of an overall promotional strategy.
Other components of the promotional mix include publicity, public relations, personal selling and SHOP SHOP SALE s promotion.
Online advertising is advertising on the Internet. This particular form of advertising is a source of revenue for an increasing number of websites and companies.
Movie is considered to be an important art form; films entertain, educate, enlighten and inspire audiences.
Film is a term that encompasses motion pictures as individual projects, as well as — in metonymy — the field in general. The origin of the name comes from the fact that photographic film (also called filmstock) has historically been the primary medium for recording and displaying motion pictures. Many other terms exist — motion pictures (or just pictures or “picture”), the silver screen, photoplays, the cinema, picture shows, flicks — and commonly movies.
Christmas characters and food, Christmas-linked holidays and music, Santa Claus and traditions. Related to Annunciation, Incarnation; Crucifixion; Advent, the four weeks preceding Christmas; and the period between the day after Thanksgiving and the Sunday after New Year”s Day, the American holiday season.
Christmas or Christmas Day is a holiday celebrating the birth of Jesus, the central figure of Christianity. Aspects of celebration may include gift-giving, Christmas trees, display of Nativity sets, church attendance, the Father Christmas/Santa Claus myth, and family gatherings. Users of the Gregorian calendar observe the holiday on December 25. Some Eastern Orthodox Churches celebrate on December 25 by the Julian calendar, which currently corresponds to January 7 on the Gregorian calendar. These dates are merely traditional; the great majority of scholars agree that the actual birthdate of Jesus is unknown. In Western culture, the holiday is characterized by the exchange of gifts among friends and family members, some of the gifts being attributed to Santa Claus (also known as Father Christmas, Saint Nicholas, Saint Basil and Father Frost). However, various local and regional Christmas traditions are still practiced, despite the widespread influence of American, British and Australian Christmas motifs disseminated by film, popular literature, television, and other media.
Internet casino guide – best gambling on net and casino bonus.
Online casinos, also known as virtual casinos, are the online version of land-based (“brick and mortar”) casinos. They allow you to play casino games through the Internet. Some online casinos provide various games, while others only provide only one type of game. Online poker is also very popular and there are many dedicated companies that provide this activity.
https://www.telework.ro/en/e-books/gaming-online-casinos/
This book is intended to be an introduction to the poker game, emphasizing on the online poker, the betting structure, poker variants, poker strategy and specific poker tournaments.
Online poker is the game of poker played over the Internet. Online poker rooms tend to be viewed as more player-friendly and allow the players to play for very low stakes. It has been partly responsible for a dramatic increase in the number of poker players worldwide. While the practice of comping players with free meals, hotel rooms, and merchandise is quite common in B&M casinos, online poker rooms have needed to develop new ways to reward faithful customers. The most common way of doing this is through deposit bonuses, where the player is given a bonus code to enter when placing money into an account. One common feature of the online poker sites is to offer tournaments called satellites by which the winners gain entry to real-life poker tournaments. Online poker rooms reward customers through deposit bonuses, where the player is given a bonus code to enter when placing money into an account.
Dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, sports, training and behavior, types, working dogs. Dogs in popular culture, famous dogs, fictional dogs, films.
The dog is a canine mammal of the Order Carnivora. Dogs were first domesticated from wolves at least 12,000 years ago but perhaps as long as 150,000 years ago based on recent genetic fossil evidence and DNA evidence. In this time, the dog has developed into hundreds of breeds with a great degree of variation. This guide details the dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, dog sports, training and behavior, dog types, working dogs, as well as dogs in popular culture, famous dogs, fictional dogs, films about dogs, dogs as pets, and many other related aspects.
Dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, sports, training and behavior, types, working dogs. Dogs in popular culture, famous dogs, fictional dogs, films.
The dog is a canine mammal of the Order Carnivora. Dogs were first domesticated from wolves at least 12,000 years ago but perhaps as long as 150,000 years ago based on recent genetic fossil evidence and DNA evidence. In this time, the dog has developed into hundreds of breeds with a great degree of variation. This guide details the dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, dog sports, training and behavior, dog types, working dogs, as well as dogs in popular culture, famous dogs, fictional dogs, films about dogs, dogs as pets, and many other related aspects.
This document provides an overview of American music. It discusses various genres that originated or developed substantially in the United States, including folk, classical, popular music, as well as American Indian music, jazz, blues, and rock. It also examines the music industry and provides historical context on the development of music education and holidays/festivals in America. The document is compiled from various articles on American music genres. It includes chapters on the history and characteristics of specific styles as well as biographies of influential artists.
A short introduction about Easter from the perspective of various religions, traditions and cultures, including Easter season, Easter bread, Easter eggs, greetings, etc.
Easter is the most important religious holiday of the Christian liturgical year, observed in March, April, or May to celebrate the resurrection of Jesus, which Christians believe occurred after his death by crucifixion in AD 27-33 (see Good Friday). Easter can also refer to the season of the church year, lasting for fifty days, which follows this holiday and ends at Pentecost. The Easter festival is kept in many different ways among Western Christians. The traditional, liturgical observation of Easter, as practised among Roman Catholics and some Lutherans and Anglicans begins on the night of Holy Saturday with the Easter Vigil. This, the most important liturgy of the year, begins in total darkness with the blessing of the Easter fire, the lighting of the large Paschal candle (symbolic of the Risen Christ) and the chanting of the Exsultet or Easter Proclamation attributed to Saint Ambrose of Milan. A short introduction about Easter from the perspective of various religions, traditions and cultures, including Easter season, Easter bread, Easter eggs, greetings, etc.
A short guide about what is and how to play bingo, the game in US and United Kingdom, and its major variations.
Since its invention in 1934, modern bingo has evolved into multiple variations, with each jurisdiction’s gambling laws regulating how the game is played. There are also nearly unlimited patterns that may be specified for play. Some patterns only require one number to be matched, up to cover-all games which award the jackpot for covering an entire card and certain games award prizes to players for matching no numbers or achieving no pattern.
Bingo is often used as an instructional tool in American primary schools and in teaching English as a foreign language in many countries. It became increasingly more popular across the UK with more purpose-built bingo halls.
Keno is an important variation of bingo game, often played at modern casinos, and also offered as a game in some state lotteries.
Scratchcard is another major variation. The scratchcard is a small token, usually made of cardboard, where one or more areas contain concealed information: they are covered by a substance (usually latex) that cannot be seen through, but can be scratched off.
A short guide about how to play blackjack, blackjack variants, strategies, tournaments, card counting, advantage gambling techniques, terminology.
The rules of casino blackjack are generally determined by law or regulation, which establishes certain rule variations allowed at the discretion of the casino. The rules of any particular game are generally posted on or near the table, failing which there is an expectation that casino staff will provide them on request. Over 100 variations of blackjack have been documented.
Each blackjack game has a basic strategy, which is playing a hand of any total value against any dealer’s up-card, which loses the least money to the house in the long term.
Blackjack can be played in tournament form, where players start with equal numbers of chips and the aim is to finish among the top chip-holders.
Dance music is music composed, played, or both, specifically to accompany dancing.
It can be either the whole musical piece or part of a larger musical arrangement. Dance music works usually bear the name of the corresponding dance, e.g. waltzes, the tango, the bolero, the can-can, minuets, salsa, various kinds of jigs and the breakdown. Other dance forms include contradance, the merengue, the cha-cha-cha. Often it is difficult to know whether the name of the music came first or the name of the dance. Although dance is often accompanied by music, it can also be presented alone (Postmodern dance) or provide its own accompaniment (tap dance). Dance presented with music may or may not be performed in time to the music depending on the style of dance. Dance performed without music is said to be danced to its own rhythm. An introduction to classical and modern dance including hip hop dance, what is dance, and the dance music (electronic music, rock and roll, disco, house, techno, trance, etc.)
Introduction in poetry: nature of poetry, tools, history, terms (periods, styles and movements, technical means, tropes, measures of verse, verse forms, national poetry...
Poetry is traditionally a written art form (although there is also an ancient and modern poetry which relies mainly upon oral or pictorial representations) in which human language is used for its aesthetic qualities in addition to, or instead of, its notional and semantic content.
The increased emphasis on the aesthetics of language and the deliberate use of features such as repetition, meter and rhyme, are what are commonly used to distinguish poetry from prose, but debates over such distinctions still persist, while the issue is confounded by such forms as prose poetry and poetic prose.
Some modernists (such as the Surrealists) approach this problem of definition by defining poetry not as a literary genre within a set of genres, but as the very manifestation of human imagination, the substance which all creative acts derive from.
A guide for game preview and rules: history, definitions, classification, theory, video game consoles, cheating, links, etc.
While many different subdivisions have been proposed, anthropologists classify games under three major headings, and have drawn some conclusions as to the social bases that each sort of game requires. They divide games broadly into, games of pure skill, such as hopscotch and target shooting; games of pure strategy, such as checkers, go, or tic-tac-toe; and games of chance, such as craps and snakes and ladders. A guide for game preview and rules: history, definitions, classification, theory, video game consoles, cheating, links, etc.
Health & Drugs - Disease, Prescription & MedicationNicolae Sfetcu
Information about drugs, side effects and abuse. Drug prescription, medication and therapy. online stores to buy drugs. Testing, interaction, administration and treatments for the health care.
Medicine is the branch of health science and the sector of public life concerned with maintaining or restoring human health through the study, diagnosis, treatment and possible prevention of disease and injury. It is both an area of knowledge – a science of body systems, their diseases and treatment – and the applied practice of that knowledge.
A drug is any biological substance, synthetic or non-synthetic, that is taken for non-dietary needs. It is usually synthesized outside of an organism, but introduced into an organism to produce its action. That is, when taken into the organisms body, it will produce some effects or alter some bodily functions (such as relieving symptoms, curing diseases or used as preventive medicine or any other purposes).
The document provides an overview of visualization and discusses whether it really works based on scientific evidence. It explores some common myths about visualization, such as that it is just wishing or hoping, or that it is not scientific. The document then discusses how mental practices like visualization can be as effective as physical practices, citing studies that found mental muscle training can enhance strength. It also notes evidence from virtual workouts and how athletes use visualization techniques in training and recovery. Overall, the document examines the science behind how visualization can impact the brain and nervous system to help achieve goals.
The document provides information about visualization and its benefits. It discusses what visualization is and isn't, how it works in the brain, common barriers to its effectiveness, and techniques to optimize its power. The goal is to help readers understand visualization and how to use it to achieve their dreams. Legal disclaimers are provided to note that the content is for educational purposes only and the author is not liable for how readers use the information.
We all know that life is full of uncertainties. Nonetheless, that doesn’t mean that you shouldn’t have dreams you intend to achieve. Your goals drive you toward your destination in life and give you a sense of purpose. One of the tools you need to reach that lofty height you desire is visualization. As you would have noticed, visualization is simple. However, it is tremendously effective in driving you to your dreams.
Stop listening to people with a negative and pessimistic view of life. Indeed, it’s good to be cautious and be modest in your expectations. Nonetheless, there are many great examples of people who have achieved their dreams. Read more about such people, especially in your field. It resonates and is inspirational when you read about individuals who have defied the odds to achieve a goal that is similar to yours.
It gives you confidence that you can also do the same when you are ready to pay the price. Remember that dreams and visualization aren’t enough to drive you to your paradise. You need to be determined and ready to put in the required hard work. However, visualization and industry aren’t mutually exclusive. They are either side of a coin, and you need both. You are
unstoppable! Chase your dreams and become the best version of yourself!
https://bit.ly/2X8ETTw
https://bit.ly/3fRPUit
https://bit.ly/3AuefTj
Riscuri și provocări în inteligența artificială: Cutii negre și actorii de am...Nicolae Sfetcu
Inteligența artificială a creat oportunități fără precedent, dar și noi riscuri. Creșterea exponențială a capabilităților modelelor de inteligența artificială permite atingerea unor niveluri de valoare și generalizare neatinse până acum. Cu toate acestea, opacitatea acestor modele a crescut, de asemenea, iar natura lor de cutie neagră face dificilă, chiar și pentru experți, explicarea justificării concluziilor lor. Acest lucru poate reprezenta un punct critic din punct de vedere tehnologic și social, deoarece riscul este real, după cum demonstrează episoadele recente, ale sistemelor de antrenament care sunt compromise de părtiniri și prejudecăți de discriminare, care au învățat din datele de instruire. Prin urmare, este posibil ca învățarea din urmele digitale ale deciziilor trecute să poată duce la încorporarea prejudecăților invizibile existente în modelele rezultate, perpetuându-le.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 41-47
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT21269
URL: https://www.internetmobile.ro/riscuri-si-provocari-in-inteligenta-artificiala-cutii-negre-si-actorii-de-amenintare/
EU Clear English Tips for Translators - eBookNicolae Sfetcu
Here are some tips to help translators avoid copying structure and wording from other languages that would be awkward in English.
They should be useful to non-native speakers, but may serve as handy reminders for native speakers too.
A comprehensive guide of chess: history, famous games and players, rules, strategy, tactics, chess and the computer, documentation and literature, variants.
Chess (the “Game of Kings”) is a board game for two players, which requires 32 chesspieces (or chessmen) and a board demarcated by 64 squares. Gameplay does not involve random luck; consisting solely of strategy, (see also tactics, and theory). Chess is one of humanity’s more popular games; it is has been described not only as a game, but also as both art and science. Chess is sometimes seen as an abstract wargame; as a “mental martial art”.
A comprehensive guide of chess: history, famous games and players, rules, strategy, tactics, chess and the computer, documentation and literature, variants.
Chess (the “Game of Kings”) is a board game for two players, which requires 32 chesspieces (or chessmen) and a board demarcated by 64 squares. Gameplay does not involve random luck; consisting solely of strategy, (see also tactics, and theory). Chess is one of humanity’s more popular games; it is has been described not only as a game, but also as both art and science. Chess is sometimes seen as an abstract wargame; as a “mental martial art”.
A guide for online marketers, advertisers and publishers, to increase the digital marketing and optimize their costs and benefits.
Internet marketing, also known as digital marketing, web marketing, online marketing, search marketing or e-marketing, is the marketing (generally promotion) of products or services over the Internet. Search engine optimization (SEO) is a set of methods aimed at improving the ranking of a website in search engine listings.
Generally speaking, advertising is the promotion of goods, services, companies and ideas, usually by an identified sponsor. Marketers see advertising as part of an overall promotional strategy.
Other components of the promotional mix include publicity, public relations, personal selling and SHOP SHOP SALE s promotion.
Online advertising is advertising on the Internet. This particular form of advertising is a source of revenue for an increasing number of websites and companies.
Movie is considered to be an important art form; films entertain, educate, enlighten and inspire audiences.
Film is a term that encompasses motion pictures as individual projects, as well as — in metonymy — the field in general. The origin of the name comes from the fact that photographic film (also called filmstock) has historically been the primary medium for recording and displaying motion pictures. Many other terms exist — motion pictures (or just pictures or “picture”), the silver screen, photoplays, the cinema, picture shows, flicks — and commonly movies.
Christmas characters and food, Christmas-linked holidays and music, Santa Claus and traditions. Related to Annunciation, Incarnation; Crucifixion; Advent, the four weeks preceding Christmas; and the period between the day after Thanksgiving and the Sunday after New Year”s Day, the American holiday season.
Christmas or Christmas Day is a holiday celebrating the birth of Jesus, the central figure of Christianity. Aspects of celebration may include gift-giving, Christmas trees, display of Nativity sets, church attendance, the Father Christmas/Santa Claus myth, and family gatherings. Users of the Gregorian calendar observe the holiday on December 25. Some Eastern Orthodox Churches celebrate on December 25 by the Julian calendar, which currently corresponds to January 7 on the Gregorian calendar. These dates are merely traditional; the great majority of scholars agree that the actual birthdate of Jesus is unknown. In Western culture, the holiday is characterized by the exchange of gifts among friends and family members, some of the gifts being attributed to Santa Claus (also known as Father Christmas, Saint Nicholas, Saint Basil and Father Frost). However, various local and regional Christmas traditions are still practiced, despite the widespread influence of American, British and Australian Christmas motifs disseminated by film, popular literature, television, and other media.
Internet casino guide – best gambling on net and casino bonus.
Online casinos, also known as virtual casinos, are the online version of land-based (“brick and mortar”) casinos. They allow you to play casino games through the Internet. Some online casinos provide various games, while others only provide only one type of game. Online poker is also very popular and there are many dedicated companies that provide this activity.
https://www.telework.ro/en/e-books/gaming-online-casinos/
This book is intended to be an introduction to the poker game, emphasizing on the online poker, the betting structure, poker variants, poker strategy and specific poker tournaments.
Online poker is the game of poker played over the Internet. Online poker rooms tend to be viewed as more player-friendly and allow the players to play for very low stakes. It has been partly responsible for a dramatic increase in the number of poker players worldwide. While the practice of comping players with free meals, hotel rooms, and merchandise is quite common in B&M casinos, online poker rooms have needed to develop new ways to reward faithful customers. The most common way of doing this is through deposit bonuses, where the player is given a bonus code to enter when placing money into an account. One common feature of the online poker sites is to offer tournaments called satellites by which the winners gain entry to real-life poker tournaments. Online poker rooms reward customers through deposit bonuses, where the player is given a bonus code to enter when placing money into an account.
Dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, sports, training and behavior, types, working dogs. Dogs in popular culture, famous dogs, fictional dogs, films.
The dog is a canine mammal of the Order Carnivora. Dogs were first domesticated from wolves at least 12,000 years ago but perhaps as long as 150,000 years ago based on recent genetic fossil evidence and DNA evidence. In this time, the dog has developed into hundreds of breeds with a great degree of variation. This guide details the dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, dog sports, training and behavior, dog types, working dogs, as well as dogs in popular culture, famous dogs, fictional dogs, films about dogs, dogs as pets, and many other related aspects.
Dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, sports, training and behavior, types, working dogs. Dogs in popular culture, famous dogs, fictional dogs, films.
The dog is a canine mammal of the Order Carnivora. Dogs were first domesticated from wolves at least 12,000 years ago but perhaps as long as 150,000 years ago based on recent genetic fossil evidence and DNA evidence. In this time, the dog has developed into hundreds of breeds with a great degree of variation. This guide details the dog anatomy, breeding, breeds, equipment, health, law, monuments, organizations, related professions and professionals, shows and showing, dog sports, training and behavior, dog types, working dogs, as well as dogs in popular culture, famous dogs, fictional dogs, films about dogs, dogs as pets, and many other related aspects.
This document provides an overview of American music. It discusses various genres that originated or developed substantially in the United States, including folk, classical, popular music, as well as American Indian music, jazz, blues, and rock. It also examines the music industry and provides historical context on the development of music education and holidays/festivals in America. The document is compiled from various articles on American music genres. It includes chapters on the history and characteristics of specific styles as well as biographies of influential artists.
A short introduction about Easter from the perspective of various religions, traditions and cultures, including Easter season, Easter bread, Easter eggs, greetings, etc.
Easter is the most important religious holiday of the Christian liturgical year, observed in March, April, or May to celebrate the resurrection of Jesus, which Christians believe occurred after his death by crucifixion in AD 27-33 (see Good Friday). Easter can also refer to the season of the church year, lasting for fifty days, which follows this holiday and ends at Pentecost. The Easter festival is kept in many different ways among Western Christians. The traditional, liturgical observation of Easter, as practised among Roman Catholics and some Lutherans and Anglicans begins on the night of Holy Saturday with the Easter Vigil. This, the most important liturgy of the year, begins in total darkness with the blessing of the Easter fire, the lighting of the large Paschal candle (symbolic of the Risen Christ) and the chanting of the Exsultet or Easter Proclamation attributed to Saint Ambrose of Milan. A short introduction about Easter from the perspective of various religions, traditions and cultures, including Easter season, Easter bread, Easter eggs, greetings, etc.
A short guide about what is and how to play bingo, the game in US and United Kingdom, and its major variations.
Since its invention in 1934, modern bingo has evolved into multiple variations, with each jurisdiction’s gambling laws regulating how the game is played. There are also nearly unlimited patterns that may be specified for play. Some patterns only require one number to be matched, up to cover-all games which award the jackpot for covering an entire card and certain games award prizes to players for matching no numbers or achieving no pattern.
Bingo is often used as an instructional tool in American primary schools and in teaching English as a foreign language in many countries. It became increasingly more popular across the UK with more purpose-built bingo halls.
Keno is an important variation of bingo game, often played at modern casinos, and also offered as a game in some state lotteries.
Scratchcard is another major variation. The scratchcard is a small token, usually made of cardboard, where one or more areas contain concealed information: they are covered by a substance (usually latex) that cannot be seen through, but can be scratched off.
A short guide about how to play blackjack, blackjack variants, strategies, tournaments, card counting, advantage gambling techniques, terminology.
The rules of casino blackjack are generally determined by law or regulation, which establishes certain rule variations allowed at the discretion of the casino. The rules of any particular game are generally posted on or near the table, failing which there is an expectation that casino staff will provide them on request. Over 100 variations of blackjack have been documented.
Each blackjack game has a basic strategy, which is playing a hand of any total value against any dealer’s up-card, which loses the least money to the house in the long term.
Blackjack can be played in tournament form, where players start with equal numbers of chips and the aim is to finish among the top chip-holders.
Dance music is music composed, played, or both, specifically to accompany dancing.
It can be either the whole musical piece or part of a larger musical arrangement. Dance music works usually bear the name of the corresponding dance, e.g. waltzes, the tango, the bolero, the can-can, minuets, salsa, various kinds of jigs and the breakdown. Other dance forms include contradance, the merengue, the cha-cha-cha. Often it is difficult to know whether the name of the music came first or the name of the dance. Although dance is often accompanied by music, it can also be presented alone (Postmodern dance) or provide its own accompaniment (tap dance). Dance presented with music may or may not be performed in time to the music depending on the style of dance. Dance performed without music is said to be danced to its own rhythm. An introduction to classical and modern dance including hip hop dance, what is dance, and the dance music (electronic music, rock and roll, disco, house, techno, trance, etc.)
Introduction in poetry: nature of poetry, tools, history, terms (periods, styles and movements, technical means, tropes, measures of verse, verse forms, national poetry...
Poetry is traditionally a written art form (although there is also an ancient and modern poetry which relies mainly upon oral or pictorial representations) in which human language is used for its aesthetic qualities in addition to, or instead of, its notional and semantic content.
The increased emphasis on the aesthetics of language and the deliberate use of features such as repetition, meter and rhyme, are what are commonly used to distinguish poetry from prose, but debates over such distinctions still persist, while the issue is confounded by such forms as prose poetry and poetic prose.
Some modernists (such as the Surrealists) approach this problem of definition by defining poetry not as a literary genre within a set of genres, but as the very manifestation of human imagination, the substance which all creative acts derive from.
A guide for game preview and rules: history, definitions, classification, theory, video game consoles, cheating, links, etc.
While many different subdivisions have been proposed, anthropologists classify games under three major headings, and have drawn some conclusions as to the social bases that each sort of game requires. They divide games broadly into, games of pure skill, such as hopscotch and target shooting; games of pure strategy, such as checkers, go, or tic-tac-toe; and games of chance, such as craps and snakes and ladders. A guide for game preview and rules: history, definitions, classification, theory, video game consoles, cheating, links, etc.
Health & Drugs - Disease, Prescription & MedicationNicolae Sfetcu
Information about drugs, side effects and abuse. Drug prescription, medication and therapy. online stores to buy drugs. Testing, interaction, administration and treatments for the health care.
Medicine is the branch of health science and the sector of public life concerned with maintaining or restoring human health through the study, diagnosis, treatment and possible prevention of disease and injury. It is both an area of knowledge – a science of body systems, their diseases and treatment – and the applied practice of that knowledge.
A drug is any biological substance, synthetic or non-synthetic, that is taken for non-dietary needs. It is usually synthesized outside of an organism, but introduced into an organism to produce its action. That is, when taken into the organisms body, it will produce some effects or alter some bodily functions (such as relieving symptoms, curing diseases or used as preventive medicine or any other purposes).
The document provides an overview of visualization and discusses whether it really works based on scientific evidence. It explores some common myths about visualization, such as that it is just wishing or hoping, or that it is not scientific. The document then discusses how mental practices like visualization can be as effective as physical practices, citing studies that found mental muscle training can enhance strength. It also notes evidence from virtual workouts and how athletes use visualization techniques in training and recovery. Overall, the document examines the science behind how visualization can impact the brain and nervous system to help achieve goals.
The document provides information about visualization and its benefits. It discusses what visualization is and isn't, how it works in the brain, common barriers to its effectiveness, and techniques to optimize its power. The goal is to help readers understand visualization and how to use it to achieve their dreams. Legal disclaimers are provided to note that the content is for educational purposes only and the author is not liable for how readers use the information.
We all know that life is full of uncertainties. Nonetheless, that doesn’t mean that you shouldn’t have dreams you intend to achieve. Your goals drive you toward your destination in life and give you a sense of purpose. One of the tools you need to reach that lofty height you desire is visualization. As you would have noticed, visualization is simple. However, it is tremendously effective in driving you to your dreams.
Stop listening to people with a negative and pessimistic view of life. Indeed, it’s good to be cautious and be modest in your expectations. Nonetheless, there are many great examples of people who have achieved their dreams. Read more about such people, especially in your field. It resonates and is inspirational when you read about individuals who have defied the odds to achieve a goal that is similar to yours.
It gives you confidence that you can also do the same when you are ready to pay the price. Remember that dreams and visualization aren’t enough to drive you to your paradise. You need to be determined and ready to put in the required hard work. However, visualization and industry aren’t mutually exclusive. They are either side of a coin, and you need both. You are
unstoppable! Chase your dreams and become the best version of yourself!
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Riscuri și provocări în inteligența artificială: Cutii negre și actorii de am...Nicolae Sfetcu
Inteligența artificială a creat oportunități fără precedent, dar și noi riscuri. Creșterea exponențială a capabilităților modelelor de inteligența artificială permite atingerea unor niveluri de valoare și generalizare neatinse până acum. Cu toate acestea, opacitatea acestor modele a crescut, de asemenea, iar natura lor de cutie neagră face dificilă, chiar și pentru experți, explicarea justificării concluziilor lor. Acest lucru poate reprezenta un punct critic din punct de vedere tehnologic și social, deoarece riscul este real, după cum demonstrează episoadele recente, ale sistemelor de antrenament care sunt compromise de părtiniri și prejudecăți de discriminare, care au învățat din datele de instruire. Prin urmare, este posibil ca învățarea din urmele digitale ale deciziilor trecute să poată duce la încorporarea prejudecăților invizibile existente în modelele rezultate, perpetuându-le.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 41-47
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT21269
URL: https://www.internetmobile.ro/riscuri-si-provocari-in-inteligenta-artificiala-cutii-negre-si-actorii-de-amenintare/
EU Clear English Tips for Translators - eBookNicolae Sfetcu
Here are some tips to help translators avoid copying structure and wording from other languages that would be awkward in English.
They should be useful to non-native speakers, but may serve as handy reminders for native speakers too.
Funcții PHP definite de utilizator în dezvoltarea WordPressNicolae Sfetcu
PHP definește o gamă largă de funcții ca blocuri reutilizabile de instrucțiuni în limbajul de bază, și multe sunt, de asemenea, disponibile în diferite extensii. Aceste funcții sunt bine documentate în documentația online PHP. Funcțiile personalizate pot fi definite de dezvoltator. O funcție nu se va executa automat când se încarcă o pagină, ea poate fi apelată de oriunde și oricând în cadrul programului. PHP acceptă declarații de tip privind parametrii funcției, care sunt aplicate în timpul execuției.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 37-40
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT37237
URL: https://www.internetmobile.ro/functii-php-definite-de-utilizator-in-dezvoltarea-wordpress/
Practici comune pentru limbajul de programare în CNicolae Sfetcu
Odată cu utilizarea pe scară largă, o serie de practici și convenții comune au evoluat pentru a ajuta la evitarea erorilor în programele C. Acestea sunt simultan o demonstrație a aplicării bunelor principii de inginerie software într-un limbaj, și o indicație a limitărilor C. Deși puține sunt utilizate universal, iar unele sunt controversate, fiecare dintre acestea se bucură de o utilizare largă.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 30-36
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT80750
URL: https://www.internetmobile.ro/practici-comune-pentru-programarea-in-c/
IT & C, Volumul 2, Numărul 3, Septembrie 2023 - RezumateNicolae Sfetcu
Revista IT & C este o publicație trimestrială din domeniile tehnologiei informației și comunicații, și domenii conexe de studiu și practică.
Cuprins:
EDITORIAL
Provocări în inteligența artificială
TEHNOLOGIA INFORMAȚIEI
Blockchain Design and Modelling
TELECOMUNICAȚII
Arhitectura de bază a rețelelor 5G
INTERNET
Big Data Ethics in Education and Research
SOFTWARE
Tableau Software: Vizualizarea și analiza datelor
PROGRAMARE
Rezumarea automată în inteligența artificială prin învățare nesupravegheată: TextRank
DEZVOLTARE WEB
Argumentele funcțiilor PHP – Transmiterea argumentelor prin referință
SECURITATE CIBERNETICĂ
Criptomonede și criptosecurități – Contracte inteligente
ISSN 2821– 8469 ISSN – L 2821 – 8469, DOI: 10.58679/IT55267
EAN , Cod IT23 , ID 32330
IT & C (PDF, EPUB, MOBI pentru Kindle) https://www.internetmobile.ro/revista/revista-it-c-volumul-2-numarul-3-septembrie-2023/
Vizualizarea datelor cu aplicațiile Tableau SoftwareNicolae Sfetcu
Tableau este un instrument de analiză și vizualizare a datelor care se poate conecta cu multe surse de date, creând tablouri de bord interactive. Tableau utilizează inovații de integrare a aplicațiilor, cum ar fi API-urile JavaScript și aplicația de conectare unică, pentru a include în mod constant analiza Tableau în aplicațiile de afaceri de bază. Tableau interoghează baze de date relaționale, cuburi de procesare analitică online, baze de date în cloud și foi de calcul pentru a genera vizualizări de date de tip grafic. De asemenea, software-ul poate extrage, stoca și prelua date dintr-un motor de date în memorie.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 23-29
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT10117
URL: https://www.internetmobile.ro/vizualizarea-datelor-cu-aplicatiile-tableau-software/
La revendication de Hooke sur la loi de la gravitéNicolae Sfetcu
Dans une note intitulée « Un état vrai de l'affaire et la controverse entre Sr Isaak Newton et le Dr Robert Hooke comme priorité de cette noble hypothèse du mouvement des planètes autour du Soleil en tant que leurs centres » non publié au cours de sa vie, Hooke a décrit sa théorie de la gravité. Pour soutenir sa « priorité », Hooke cite ses conférences sur les mouvements planétaires du 23 mai 1666, « Une tentative de prouver le mouvement de la Terre à partir d'observations » publiées en 1674 et la correspondance avec Isaac Newton en 1679.
DOI: 10.13140/RG.2.2.26375.24485
Procesarea Big Data cu instrumente avansateNicolae Sfetcu
Datele trebuie procesate cu instrumente avansate de colectare și analiză, pe baza unor algoritmi prestabiliți, pentru a putea obține informații relevante. Algoritmii trebuie să ia în considerare și aspecte invizibile pentru percepțiile directe. Big Data în procesele guvernamentale cresc eficiența costurilor, productivitatea și inovația. Registrele civile sunt o sursă pentru Big Data. Datele prelucrate ajută în domenii critice de dezvoltare, cum ar fi îngrijirea sănătății, ocuparea forței de muncă, productivitatea economică, criminalitatea, securitatea și gestionarea dezastrelor naturale și a resurselor.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 18-22
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT91785
URL: https://www.internetmobile.ro/procesarea-big-data/
Corupţia, Globalizarea și NeocolonialismulNicolae Sfetcu
O introducere în conceptele interdependente despre corupţie, globalizare prin instituţiile financiare internaţionale, şi neocolonialism înţeles ca exploatarea resurselor şi materiilor prime a ţărilor sărace şi în curs de dezvoltare de unele mari corporaţii multinaţionale.
Corupţia este atât o cauză majoră cât şi un rezultat al sărăciei în întreaga lume. Ea apare la toate nivelurile societăţii, de la autorităţile locale şi naţionale, la societatea civilă, sistemul judiciar, întreprinderile mari şi mici, unităţile militare, etc. Corupţie sistemică (sau corupţia endemică) este corupţia, care se datorează în primul rând punctelor slabe ale unei organizaţii sau proces. Aceasta poate fi contrastată la funcţionarii sau agenţii individuali corupţi din cadrul sistemului. Factorii care încurajează corupţia sistemică includ stimulente contradictorii, puteri discreţionare, puteri de monopol, lipsa de transparenţă, salarii mici, şi o cultură a impunităţii. printre actele specifice de corupţie se numără luarea de mită, şantaj, şi deturnarea de fonduri, într-un sistem în care corupţia devine regula mai degrabă decât excepţia.
Neocolonialismului este practica de utilizare a capitalismului, globalizării, şi a forţelor culturale, pentru a controla o ţară, în locul unui control direct militar sau politic. Un astfel de control poate fi economic, cultural, sau lingvistic. Societăţile corporative care aparţin culturii impuse pot pătrunde mult mai uşor pe pieţele din aceste ţări. Astfel, neocolonialismului este rezultatul final al unor interese de afaceri sau geopolitice se obţine prin deformarea culturii ţărilor colonizate.
În urma unei ideologii cunoscut sub numele de neoliberalism, şi răspândită de instituţii financiare similare, cunoscută sub numele de "Consensul de la Washington", au fost impuse politici de ajustare structurală pentru a se asigura de rambursarea datoriilor şi restructurarea economică. Dar, în realitate s-a cerut ţărilor sărace să-şi reducă cheltuielile cu sănătatea, educaţia şi dezvoltarea, făcându-se o prioritate din rambursarea datoriilor şi a altor politici economice favorizante pentru ţările dezvoltate.Practic, FMI şi Banca Mondială au cerut ţărilor sărace să reducă nivelul de trai al populaţiei.
Corupţia, crimele de stat corporativ, şi crima organizată, sunt oricum considerate atât crime internaţionale cât şi crime de stat la nivel naţional. În cele mai multe cazuri crima de stat este considerată ca aplicabilă atunci când statul se implică direct în secretomania excesivă şi acoperirea unor activităţi ilegale, dezinformarea, şi o evidenţă financiară superficială sau chiar incorectă (care încurajează evaziunea fiscală în cazul unora din oficialii guvernamentali), reflectănd adesea interesele doar a anumitor clase sociale şi interese de grup, şi încălcând astfel drepturile omului.
Corupţia presupune cel puţin o persoană care corupe, una coruptă, şi o masă mare de păgubiţi inerţi. Vina este a tuturor!
Performanța și standardele rețelelor de telecomunicații 5GNicolae Sfetcu
Pentru măsurarea precisă a performanței 5G se utilizează simulatoare și teste specifice. Inițial, termenul a fost asociat cu standardul IMT-2020 al Uniunii Internaționale de Telecomunicații, care necesita o viteză maximă teoretică de descărcare de 20 gigabiți pe secundă și 10 gigabiți pe secundă viteza de încărcare, împreună cu alte cerințe. Apoi, grupul de standarde industriale 3GPP a ales standardul 5G NR (New Radio) împreună cu LTE ca propunere pentru transmitere la standardul IMT-2020.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 13-17
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT52354
URL: https://www.internetmobile.ro/performanta-si-standardele-retelelor-de-telecomunicatii-5g/
Intelligence Info, Volumul 2, Numărul 3, Septembrie 2023Nicolae Sfetcu
Revista Intelligence Info este o publicație trimestrială din domeniile intelligence, geopolitică și securitate, și domenii conexe de studiu și practică.
Cuprins:
EDITORIAL
Rolul serviciilor de informații în război, de Nicolae Sfetcu
INTELLIGENCE
Intelligence Analysis, de Nicolae Sfetcu
ISTORIA
Reformele serviciilor secrete de la Mihail Moruzov la Eugen Cristescu, între inovație și decadență, de Rodica Liseanu
Take Ionescu – O biografie vectorială în istoria partidelor politice și în semantica diplomației, de Rodica Liseanu
GEOPOLITICA
Apusul universalismului european, de Lisa-Maria Achimescu
Chinese Hegemony in the Production of Rare Earths, de Emilian M. Dobrescu
România. Între ‘gura de rai’ geografică şi răspântia geopolitică, de Radu Carp
SECURITATE
Schimbarea paradigmelor în mediul internațional de securitate, de Alexandru Cristian
Adevăr și dezinformare în fenomenul OZN, de Dan D. Farcaș
ȘTIINȚA INFORMAȚIEI
Utilizarea analiticii rețelelor sociale în intelligence, de Nicolae Sfetcu
ISSN 2821-8159 ISSN-L 2821-8159, DOI: 10.58679/II30199
EAN , Cod II23 , ID 22330
Intelligence Info (PDF, EPUB, MOBI pentru Kindle) https://www.intelligenceinfo.org/revista/revista-intelligence-info-volumul-2-numarul-3-septembrie-2023/
Ontologii narative în tehnologia blockchainNicolae Sfetcu
Paul Ricoeur a examinat o serie de forme diferite de discurs extins, începând cu discursul metaforic. Discursul narativ este una din formele investigate, configurând concepte eterogene care identifică acțiunile într-un moment în care un lucru se întâmplă nu numai după altceva, ci și din cauza altui lucru dintr-o poveste sau istorie care poate fi urmată. Reformează evenimentele fizice ca evenimente narative, care au sens deoarece spun ceea ce se întâmplă într-o poveste sau într-o istorie. Narațiunile sunt întotdeauna o sinteză a conceptelor eterogene care configurează episoadele povestirii.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 7-12
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT70323
URL: https://www.internetmobile.ro/ontologii-narative-in-tehnologia-blockchain/
Philosophy of Blockchain Technology - OntologiesNicolae Sfetcu
About the necessity and usefulness of developing a philosophy specific to the blockchain technology, emphasizing on the ontological aspects. After an Introduction that highlights the main philosophical directions for this emerging technology, in Blockchain Technology I explain the way the blockchain works, discussing ontological development directions of this technology in Designing and Modeling. The next section is dedicated to the main application of blockchain technology, Bitcoin, with the social implications of this cryptocurrency. There follows a section of Philosophy in which I identify the blockchain technology with the concept of heterotopia developed by Michel Foucault and I interpret it in the light of the notational technology developed by Nelson Goodman as a notational system. In the Ontology section, I present two developmental paths that I consider important: Narrative Ontology, based on the idea of order and structure of history transmitted through Paul Ricoeur's narrative history, and the Enterprise Ontology system based on concepts and models of an enterprise, specific to the semantic web, and which I consider to be the most well developed and which will probably become the formal ontological system, at least in terms of the economic and legal aspects of blockchain technology. In Conclusions I am talking about the future directions of developing the blockchain technology philosophy in general as an explanatory and robust theory from a phenomenologically consistent point of view, which allows testability and ontologies in particular, arguing for the need of a global adoption of an ontological system for develop cross-cutting solutions and to make this technology profitable.
Inteligența artificială, o provocare esențialăNicolae Sfetcu
Inteligența artificială a progresat până la punctul în care este o componentă esențială în aproape toate sectoarele economiei moderne actuale, cu un impact semnificativ asupra vieții noastre private, sociale și politice. Ea a fost întemeiată pe presupunerea că inteligența umană poate fi descrisă atât de precis încât să poată fi făcută o mașină să o simuleze. Acest lucru ridică argumente filozofice despre minte și etica creării de ființe artificiale înzestrate cu inteligență asemănătoare omului. Inteligența artificială sunt o sursă a unui set complet nou de probleme de explicabilitate, responsabilitate și încredere.
IT & C, Volumul 2, Numărul 1, Martie 2023, pp. 3-6
ISSN 2821 – 8469, ISSN – L 2821 – 8469, DOI: 10.58679/IT30677
URL: https://www.internetmobile.ro/inteligenta-artificiala-o-provocare-esentiala/
Ghidul de faţă se bazează în general pe ghidul în limba engleză „How to write clearly”, aducând o serie de recomandări specifi ce redactării textelor în limba română.
https://www.telework.ro/ro/e-books/ghid-ue-pentru-traduceri/
Activitatea de intelligence – Ciclul intelligenceNicolae Sfetcu
David Singer afirmă că, în prezent, amenințarea constituie principalul obiectiv al agențiilor de informații. Activitatea de informații poate fi considerată ca fiind procesul prin care anumite tipuri de informații sunt solicitate, colectate, analizate și diseminate, și modul în care sunt concepute și desfășurate anumite tipuri de acțiuni secrete. Ciclul intelligence reprezintă un set de procese utilizate pentru a furniza informații utile în luarea deciziilor. Ciclul constă din mai multe procese. Domeniul conex al contrainformațiilor este însărcinat cu împiedicarea eforturilor informative ale altora.
INTELLIGENCE INFO, Volumul 2, Numărul 1, Martie 2023, pp. 34-40
ISSN 2821 – 8159, ISSN – L 2821 – 8159, DOI: 10.58679/II18551
URL: https://www.intelligenceinfo.org/activitatea-de-intelligence-ciclul-intelligence/
Cunoașterea Științifică, Volumul 2, Numărul 3, Septembrie 2023Nicolae Sfetcu
Revista Cunoașterea Științifică este o publicație trimestrială din domeniile științei și filosofiei, și domenii conexe de studiu și practică.
Cuprins:
EDITORIAL
Știința schimbărilor climatice, de Nicolae Sfetcu
ȘTIINȚE NATURALE
Interactions between the brain, the biofields, and the physical, de Adrian Klein și Robert Neil Boyd
The Psycho-Neural Connectivity, de Adrian Klein
ȘTIINȚE SOCIALE
School dropout rate in Romania, de Alexandra Mocanu
Ipoteza hipercivilizațiilor, de Dan D. Farcas
The Importance of the Rare Earths for the World Economy, de Emilian M. Dobrescu
Puteri emergente şi noile paradigme în mediul internațional de securitate, de Alexandru Cristian
Models of Emotional Intelligence in Research and Education, de Nicolae Sfetcu
Cultura anime în România, de Alexandra Mocanu
ȘTIINȚE FORMALE
Etica în inteligența artificială: provocări și perspective, de Sebastian Bidașcă
FILOSOFIE
Portretul biblic al unicornilor și paranoia fără fundamente privind seria „My Little Pony”, de Valentina-Andrada Minea
Materialism şi realitatea esteticii: Argumente şi contraargumente la scrisorile lui Friedrich Schiller privind educaţia estetică a omului (1/3), de Petru Ababii
Unele aspecte ale filosofiei lui Albert Einstein și Henri Bergson, timpul şi paradoxul lui Zenon în viziune critică nonsofisticată, de Petru Ababii
RECENZII CĂRȚI
Humanism, Becoming and the Demiurge in The Adventures of Pinocchio, de Nicolae Sfetcu
ISSN 2821-8086 ISSN-L 2821-8086, DOI: 10.58679/CS90773
EAN 725657205492, Cod CS23P , ID 12330
Cunoașterea Științifică (PDF, EPUB, MOBI pentru Kindle) https://www.cunoasterea.ro/revista/revista-cunoasterea-stiintifica-volumul-2-numarul-3-septembrie-2023/
Manual pentru începători pentru întreţinerea şi depanarea calculatoarelor, cu o introducere în noţiuni de calculatoare, hardware, software (inclusiv sisteme de operare) şi securitatea pe Internet.
Un calculator de uz general are patru componente principale: unitatea logică aritmetică (ALU), unitatea de control, memoria, şi dispozitive de intrare şi ieşire (denumite colectiv I/O). Aceste piese sunt interconectate prin bus-uri, de multe ori făcut din grupuri de fire.
Caracteristica definitorie a computerelor moderne, care le distinge de toate celelalte maşini, este că acestea pot fi programate. Asta presupune că un anumit tip de instrucţiuni (program) poate fi implementat în calculator, care le va procesa. Calculatoare moderne, bazate pe arhitectura von Neumann, au adesea codul maşină în forma unui limbaj de programare imperativ.
Drobeta Turnu Severin Heavy Water Plant: ConstructionNicolae Sfetcu
The heavy water plant was established under the name of Combinatul Chimic Drobeta, by Decree 400/16.11.1979, under the Inorganic Products Industrial Center (CIPA) Râmnicu Vâlcea. The thermo-electric plant for supplying the heavy water factory with steam was decided to be located in Halânga village, three kilometers from the factory. The process water required for the factory was brought from the Danube, and the hydrogen sulphide used in the process was produced in the plant, through a specific technology, and then compressed, liquefied and stored in special tanks. The works on the heavy water factory at Drobeta Turnu Severin started in 1979, based on a derogatory HCM. The equipment for the heavy water plant was purchased through the Industrial Center for Chemical and Refinery Equipment (CIUTCR). All equipment and facilities that transported hydrogen sulphide had to meet strict quality assurance conditions.
CUNOAȘTEREA ȘTIINȚIFICĂ, Volumul 2, Numărul 1, Martie 2023, pp. 39-44
ISSN 2821 – 8086, ISSN – L 2821 – 8086, DOI: 10.58679/CS96723
URL: https://www.cunoasterea.ro/drobeta-turnu-severin-heavy-water-plant-construction/
Din punct de vedere metodologic, atât Newton cât și Einstein, și ulterior Dirac, au susținut fără rezerve principiul simplității matematice în descoperirea noilor legi fizice ale naturii. Lor li s-au alăturat și Poincaré și Weyl. Eduard Prugovecki afirmă că gravitația cuantică a impus luarea în considerare a unor întrebări epistemologice fundamentale, care pot fi identificate în filosofie cu problema minții-corp și cu problema liberului arbitru. Aceste întrebări au influențat epistemologia mecanicii cuantice sub forma “paralelismului psiho-fizic” al lui von Neumann și analiza ulterioară a tezei de către Wigner că “colapsul pachetului de unde” are loc în mintea “observatorului”.
CUNOAȘTEREA ȘTIINȚIFICĂ, Volumul 2, Numărul 1, Martie 2023, pp. 20-38
ISSN 2821 – 8086, ISSN – L 2821 – 8086, DOI: 10.58679/CS96800
URL: https://www.cunoasterea.ro/epistemologia-gravitatiei-cuantice/
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
3. NICOLAE SFETCU: INSURANCE GLOSSARY
2
The book is made by organizing Telework articles (main sources: my own articles, Wikipedia under
the CC BY-SA 3.0 license adapted by Nicolae Sfetcu, and other sources). Text license: CC BY-SA 3.0
The information in this book (licensed under the GNU Free Documentation License) is from 2006
and has not been updated.
DISCLAIMER:
The author and publisher are providing this book and its contents on an “as is” basis
and make no representations or warranties of any kind with respect to this book or its
contents. The author and publisher disclaim all such representations and warranties for a
particular purpose. In addition, the author and publisher do not represent or warrant that
the information accessible via this book is accurate, complete or current.
Except as specifically stated in this book, neither the author or publisher, nor any
authors, contributors, or other representatives will be liable for damages arising out of or
in connection with the use of this book. This is a comprehensive limitation of liability that
applies to all damages of any kind, including (without limitation) compensatory; direct,
indirect or consequential damages, including for third parties.
You understand that this book is not intended as a substitute for consultation with a
licensed, educational, legal or finance professional. Before you use it in any way, you will
consult a licensed professional to ensure that you are doing what’s best for your situation.
This book provides content related to educational topics. As such, use of this book
implies your acceptance of this disclaimer.
4. NICOLAE SFETCU: INSURANCE GLOSSARY
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Table of Contents
Insurance Glossary...............................................................................................................................................1
Table of Contents..............................................................................................................................................3
Insurance............................................................................................................................................................... 16
Principles of insurance........................................................................................................................... 16
Insurance Contract Principles............................................................................................................. 16
Indemnification......................................................................................................................................... 18
How an insurance company makes money.................................................................................... 18
Determination of rate structures ....................................................................................................... 19
Gambling analogy..................................................................................................................................... 19
History of insurance................................................................................................................................ 20
Types of insurance................................................................................................................................... 22
Types of insurance companies............................................................................................................ 25
Life insurance and saving...................................................................................................................... 26
Size of global insurance industry ....................................................................................................... 26
Financial viability of insurance companies.................................................................................... 27
Controversies............................................................................................................................................. 27
Glossary........................................................................................................................................................ 30
Quote ............................................................................................................................................................. 30
A................................................................................................................................................................................ 31
Accidental death and dismemberment insurance............................................................................ 31
Alcohol exclusion laws................................................................................................................................ 31
References................................................................................................................................................... 32
Annuity (US financial products).............................................................................................................. 32
General.......................................................................................................................................................... 32
Immediate Annuity.................................................................................................................................. 33
Deferred Annuity...................................................................................................................................... 34
Taxation........................................................................................................................................................ 37
Insurance company default risk ......................................................................................................... 37
Compensation for advisors or salespeople .................................................................................... 37
B................................................................................................................................................................................ 39
5. NICOLAE SFETCU: INSURANCE GLOSSARY
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Bancassurance................................................................................................................................................ 39
Beneficiary....................................................................................................................................................... 39
Boiler insurance............................................................................................................................................. 40
Bonus-Malus.................................................................................................................................................... 40
References................................................................................................................................................... 41
Buy term and invest the difference........................................................................................................ 41
C ................................................................................................................................................................................ 48
Captive Insurance.......................................................................................................................................... 48
Types of Captive........................................................................................................................................ 48
Commercial Advantages............................................................................................................................. 49
Cash value ........................................................................................................................................................ 50
Coinsurance..................................................................................................................................................... 50
Casualty insurance........................................................................................................................................ 50
Segments...................................................................................................................................................... 51
Contents insurance....................................................................................................................................... 51
Corporate-owned life insurance.............................................................................................................. 51
Credit insurance............................................................................................................................................. 52
History .......................................................................................................................................................... 52
Critical illness insurance ............................................................................................................................ 53
Crop insurance ............................................................................................................................................... 53
D................................................................................................................................................................................ 55
Death spiral ..................................................................................................................................................... 55
Deductible........................................................................................................................................................ 55
Directors and officers liability insurance............................................................................................. 55
E................................................................................................................................................................................ 57
Earthquake insurance ................................................................................................................................. 57
Endowment mortgage................................................................................................................................. 58
Why have an endowment mortgage ................................................................................................. 58
Problems with endowment mortgages............................................................................................ 59
Endowment policy........................................................................................................................................ 59
Full endowments...................................................................................................................................... 59
Low cost endowment (LCE)................................................................................................................. 59
Unit-linked endowment......................................................................................................................... 60
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Modified Endowments (U.S.) ............................................................................................................... 60
Euro-Center..................................................................................................................................................... 60
Experience modifier..................................................................................................................................... 60
Extended coverage........................................................................................................................................ 61
F ................................................................................................................................................................................ 62
False insurance claims ................................................................................................................................ 62
Fidelity bond................................................................................................................................................... 62
Financial reinsurance.................................................................................................................................. 63
History .......................................................................................................................................................... 63
The regulator's perspective.................................................................................................................. 63
A banker's perspective........................................................................................................................... 64
The reinsurer's perspective ................................................................................................................. 64
Different accounting regimes............................................................................................................... 64
Fire insurance marks .............................................................................................................................. 65
Reference..................................................................................................................................................... 65
G................................................................................................................................................................................ 66
General insurance ......................................................................................................................................... 66
Gross premiums written............................................................................................................................. 66
Group Insurance ............................................................................................................................................ 66
H................................................................................................................................................................................ 68
Health insurance............................................................................................................................................ 68
History and evolution.................................................................................................................................. 68
Private health insurance........................................................................................................................ 68
Publicly funded health insurance....................................................................................................... 72
Health insurance in the United States................................................................................................... 73
Health insurance in Massachusetts ................................................................................................... 74
References................................................................................................................................................... 74
Health insurance fraud................................................................................................................................ 75
Home insurance............................................................................................................................................. 75
Types of Homeowners Insurance....................................................................................................... 76
References................................................................................................................................................... 77
Hospital case management........................................................................................................................ 77
Hospital peer review.................................................................................................................................... 78
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I ................................................................................................................................................................................. 79
Indemnity......................................................................................................................................................... 79
Freeing of slaves and servants ............................................................................................................ 79
Costs of war ................................................................................................................................................ 80
Indemnity in Unification Church belief................................................................................................. 80
Independent medical examinations....................................................................................................... 80
Independent medical review.................................................................................................................... 81
Independent review organization .......................................................................................................... 82
Insurable interest.......................................................................................................................................... 82
Insurable risk.................................................................................................................................................. 82
Insurance contract........................................................................................................................................ 83
General Features....................................................................................................................................... 83
Parts of an insurance contract............................................................................................................. 84
Definitions................................................................................................................................................... 84
Insurance bond .............................................................................................................................................. 84
Why invest in an insurance bond?..................................................................................................... 85
Range of investment funds ................................................................................................................... 85
Insurance broker........................................................................................................................................... 85
Insurance brokerage in the UK................................................................................................................ 85
Insurance score.............................................................................................................................................. 86
K................................................................................................................................................................................ 87
Keyman Insurance ........................................................................................................................................ 87
Insurable losses......................................................................................................................................... 87
Who can be a Keyman?........................................................................................................................... 87
Taxation........................................................................................................................................................ 88
Knock-for-Knock Agreement.................................................................................................................... 88
L ................................................................................................................................................................................ 89
Lenders mortgage insurance.................................................................................................................... 89
Liability insurance ........................................................................................................................................ 90
Overview of Liability Insurance.......................................................................................................... 90
Evidentiary rules regarding liability insurance............................................................................ 91
Liability insurance in pop culture...................................................................................................... 91
Life assurance................................................................................................................................................. 92
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What is life assurance/insurance?..................................................................................................... 92
Protection policies ................................................................................................................................... 93
Investment policies.................................................................................................................................. 94
Annuities...................................................................................................................................................... 94
Tax considerations................................................................................................................................... 94
Life insurance ................................................................................................................................................. 95
How life insurance works...................................................................................................................... 95
Types of life insurance............................................................................................................................ 98
Temporary .................................................................................................................................................. 98
Permanent................................................................................................................................................... 99
Taxation of life insurance in the United States ...........................................................................102
Taxation of life assurance in the United Kingdom.....................................................................102
Related life insurance products ........................................................................................................103
History ........................................................................................................................................................104
Criticism.....................................................................................................................................................104
Life table .........................................................................................................................................................105
Insurance applications .........................................................................................................................105
The mathematics of life tables...........................................................................................................105
Life tables in biology .............................................................................................................................106
Life tables as an alternative to the Pearl Index...........................................................................106
References.................................................................................................................................................106
Line sheet .......................................................................................................................................................107
Lloyd's of London........................................................................................................................................107
Quick facts .................................................................................................................................................108
History ........................................................................................................................................................109
'Recruit to dilute'....................................................................................................................................110
Structure ....................................................................................................................................................112
Underwriting ventures.........................................................................................................................114
Types of policies......................................................................................................................................116
Miscellaneous...........................................................................................................................................116
Loan protection insurance.......................................................................................................................117
Locked Funds Insurance...........................................................................................................................117
Long term care insurance ........................................................................................................................118
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M.............................................................................................................................................................................120
Managing general agent............................................................................................................................120
Marine insurance.........................................................................................................................................120
Origins.........................................................................................................................................................120
Practice.......................................................................................................................................................121
Protection and Indemnity ...................................................................................................................121
Actual Total Loss and Constructive Total Loss...........................................................................122
Average.......................................................................................................................................................122
Excess, Deductible, Co-Insurance, and Franchise......................................................................122
Tonners and Chinamen........................................................................................................................123
Warranties and Conditions.................................................................................................................123
Salvage and Prizes..................................................................................................................................124
Marine Insurance Act, 1906 ...............................................................................................................124
Reference...................................................................................................................................................125
Bibliography.............................................................................................................................................125
Medical billing (United States)...............................................................................................................125
Billing Process..........................................................................................................................................125
Payment .....................................................................................................................................................126
History ........................................................................................................................................................126
HIPAA..........................................................................................................................................................127
Medical case management.......................................................................................................................127
Medical coder................................................................................................................................................127
Medical management company.............................................................................................................128
Mortality drag...............................................................................................................................................128
Mortgage Life Insurance...........................................................................................................................129
Mutual insurance.........................................................................................................................................130
List of mutual insurance companies ...............................................................................................130
List of demutualized insurance companies..................................................................................131
List of defunct mutual insurance companies...............................................................................131
Mortgage payment protection insurance ..........................................................................................131
N..............................................................................................................................................................................133
Net premium valuation.............................................................................................................................133
Background...............................................................................................................................................133
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New Methods ...........................................................................................................................................133
No-fault insurance ......................................................................................................................................133
P ..............................................................................................................................................................................135
P & I insurance .............................................................................................................................................135
Parametric insurance ................................................................................................................................137
Transaction cost......................................................................................................................................137
Application................................................................................................................................................137
Users............................................................................................................................................................138
Transurance..............................................................................................................................................138
Participating provider option.................................................................................................................139
PAYD.................................................................................................................................................................139
Performance bond ......................................................................................................................................140
Permanent life insurance.........................................................................................................................140
Payout likelihood.........................................................................................................................................141
Perpetual Insurance...................................................................................................................................141
Pet insurance ................................................................................................................................................142
Political risk insurance..............................................................................................................................142
References.................................................................................................................................................142
Preferred provider organization...........................................................................................................143
Premium Financing ....................................................................................................................................144
Benefits.......................................................................................................................................................144
Private Mortgage Insurance....................................................................................................................144
Property insurance.....................................................................................................................................145
R..............................................................................................................................................................................146
RAND Health Insurance Experiment...................................................................................................146
Reinsurance...................................................................................................................................................146
Functions of Reinsurance....................................................................................................................147
Types of Reinsurance............................................................................................................................148
Contracts....................................................................................................................................................149
Markets.......................................................................................................................................................149
Retrocession..................................................................................................................................................150
Return of premium life insurance.........................................................................................................150
S...............................................................................................................................................................................151
11. NICOLAE SFETCU: INSURANCE GLOSSARY
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Segregated fund...........................................................................................................................................151
Self insurance................................................................................................................................................151
Social insurance...........................................................................................................................................152
Specialty medical peer review ...............................................................................................................153
References.................................................................................................................................................154
Subrogation ...................................................................................................................................................154
Insurance...................................................................................................................................................155
Guarantees ................................................................................................................................................156
References.................................................................................................................................................156
Surety bond ...................................................................................................................................................156
T..............................................................................................................................................................................159
Term life insurance.....................................................................................................................................159
Concepts.....................................................................................................................................................159
Annual renewable term .......................................................................................................................159
Level term..................................................................................................................................................160
Payout likelihood....................................................................................................................................160
Conversion privileges ...........................................................................................................................160
Terrorism insurance ..................................................................................................................................161
Industry Needs ........................................................................................................................................161
Modeling the Risks.................................................................................................................................162
Crisis Management.................................................................................................................................162
Netherlands ..............................................................................................................................................162
US..................................................................................................................................................................162
Iraq...............................................................................................................................................................162
Theory of Decreasing Responsibility...................................................................................................163
Third party adminstrator.........................................................................................................................163
Title insurance..............................................................................................................................................164
Why Title Insurance Exists in the United States ........................................................................164
Comparison with other insurance ...................................................................................................165
Types of policies......................................................................................................................................166
Land title associations..........................................................................................................................167
Industry profitability ............................................................................................................................168
Total permanent disability insurance.................................................................................................168
12. NICOLAE SFETCU: INSURANCE GLOSSARY
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Trade Credit Insurance.............................................................................................................................169
History ........................................................................................................................................................169
Travel insurance..........................................................................................................................................170
Travelers Insurance ...................................................................................................................................171
Introduction..............................................................................................................................................171
To Risk or not to risk.............................................................................................................................171
What is Travel Insurance.....................................................................................................................171
The Limitations of Travel Insurance...............................................................................................172
Another Option: The creation of Travel Assistance Companies...........................................173
Pricing pressure and commodity products..................................................................................173
References.................................................................................................................................................174
U..............................................................................................................................................................................175
Uberrima fides..............................................................................................................................................175
Underwriting profit....................................................................................................................................175
Unincorporated reciprocal inter-insurance exchange..................................................................175
References.................................................................................................................................................176
Uninsured motorist clause ......................................................................................................................176
Definition...................................................................................................................................................176
Who is as an uninsured motorist for the purpose of an uninsured motorist clause?..176
Litigating an uninsured motorist claim .........................................................................................177
Universal life insurance ............................................................................................................................177
Uses..............................................................................................................................................................178
Types...........................................................................................................................................................178
Utilization management ...........................................................................................................................179
Utilization review........................................................................................................................................180
Unitised insurance fund............................................................................................................................180
Nature of funds........................................................................................................................................180
V..............................................................................................................................................................................181
Value of In-Force .........................................................................................................................................181
Variable universal life insurance...........................................................................................................181
Uses..............................................................................................................................................................181
Contract Features...................................................................................................................................182
Premium Flexibility...............................................................................................................................182
13. NICOLAE SFETCU: INSURANCE GLOSSARY
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Investment Choices................................................................................................................................183
Tax Advantages .......................................................................................................................................183
Criticisms of Variable Universal Life...............................................................................................184
Vehicle insurance ........................................................................................................................................185
Coverage levels........................................................................................................................................185
Public policy .............................................................................................................................................186
Basis of premium charges...................................................................................................................186
Auto Insurance in the United States................................................................................................188
United Kingdom Laws regarding motor insurance...................................................................190
Automobile/Motor Insurance in other countries......................................................................191
Viatical settlement......................................................................................................................................191
Vision insurance ..........................................................................................................................................192
W.............................................................................................................................................................................193
Whole life insurance...................................................................................................................................193
Types...........................................................................................................................................................193
Requirements...........................................................................................................................................193
Guarantees ................................................................................................................................................193
Liquidity.....................................................................................................................................................194
Performance.............................................................................................................................................194
Summary....................................................................................................................................................194
With-profits policy......................................................................................................................................194
Types of policy.........................................................................................................................................195
Smoothing .................................................................................................................................................196
Types of bonus.........................................................................................................................................196
Market Value Reduction (MVR)........................................................................................................196
Perceived risk and actual risk............................................................................................................197
Regulation .................................................................................................................................................197
Reputation.................................................................................................................................................198
Actuarial science ..............................................................................................................................................199
Development............................................................................................................................................200
References.................................................................................................................................................203
Demography..................................................................................................................................................204
Data and methods...................................................................................................................................204
14. NICOLAE SFETCU: INSURANCE GLOSSARY
13
Important concepts................................................................................................................................204
Basic demographic equation..............................................................................................................205
History ........................................................................................................................................................206
The demographic transition...............................................................................................................206
Further reading.......................................................................................................................................207
Age-adjusted life expectancy ..................................................................................................................207
Biodemography of human longevity ...................................................................................................208
Further reading.......................................................................................................................................209
Birth rate....................................................................................................................................................209
Other methods of measuring birth rate.........................................................................................209
Factors affecting birth rate .................................................................................................................209
Buffer Theory...........................................................................................................................................210
Second Wave of migration..................................................................................................................210
Third Wave of migration .....................................................................................................................211
Other migration models.......................................................................................................................211
Compensation law of mortality.........................................................................................................211
References.................................................................................................................................................211
Life expectancy.............................................................................................................................................212
Overview....................................................................................................................................................212
Life expectancy over human history...............................................................................................213
Timeline for humans.............................................................................................................................214
Variations in life expectancy in the world today........................................................................214
Life expectancy of animals and plants............................................................................................215
Evolution and aging rate......................................................................................................................215
Calculating life expectancy..................................................................................................................216
Further reading.......................................................................................................................................217
References.................................................................................................................................................217
List of causes of death by rate................................................................................................................217
Notes............................................................................................................................................................219
References.................................................................................................................................................219
List of countries by birth rate.................................................................................................................220
Reference...................................................................................................................................................225
Maximum life span......................................................................................................................................225
15. NICOLAE SFETCU: INSURANCE GLOSSARY
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Overview....................................................................................................................................................226
Increasing maximum life span ..........................................................................................................227
Research data concerning maximum life span ...........................................................................227
Publications discussing the concept of maximum life span...................................................229
References.................................................................................................................................................229
Actuarial reserves .......................................................................................................................................230
Actuary............................................................................................................................................................231
History ........................................................................................................................................................232
Responsibilities.......................................................................................................................................234
Credentialing and exams .....................................................................................................................236
Notable actuaries....................................................................................................................................237
Fictional actuaries..................................................................................................................................238
References.................................................................................................................................................238
Asset allocation............................................................................................................................................240
Asset allocation in a nutshell .............................................................................................................240
Examples of asset classes....................................................................................................................240
Academic studies.........................................................................................................................................242
Return versus risk trade-off...............................................................................................................242
Footnotes...................................................................................................................................................243
References.................................................................................................................................................243
Catastrophe modeling ...............................................................................................................................244
Perils analyzed.........................................................................................................................................244
Lines of business modeled..................................................................................................................244
Input ............................................................................................................................................................244
Output.........................................................................................................................................................245
Uses..............................................................................................................................................................245
Demand surge..........................................................................................................................................245
Discount..........................................................................................................................................................245
Example......................................................................................................................................................246
Discount rate............................................................................................................................................246
Discount factor ........................................................................................................................................247
License..................................................................................................................................................................248
GNU Free Documentation License........................................................................................................248
16. NICOLAE SFETCU: INSURANCE GLOSSARY
15
About the author ..............................................................................................................................................255
Nicolae Sfetcu................................................................................................................................................255
Insurance, in law and economics, is a form of risk management primarily used to hedge
against the risk of potential financial loss. Insurance is defined as the equitable transfer of
the risk of a potential loss, from one entity to another, in exchange for a premium and duty
of care.
17. NICOLAE SFETCU: INSURANCE GLOSSARY
16
Insurance
Principles of insurance
Losses must be uncertain.
The rate of losses must be relatively predictable: In order to set premiums (prices)
insurers must be able to estimate them accurately. This is done using the Law of Large
Numbers which states that: The larger the number of homogenous exposures considered,
the more closely the losses reported will equal the underlying probability of loss. If the
coverage is unique, the insured will pay a correspondingly higher premium. Lloyd's of
London often accepts unique coverages. (e.g., the insuring of Tina Turner's legs and
Jennifer Lopez's buttocks)
The loss must be significant: The legal principle of De minimis dictates that trivial
matters are not covered. Furthermore, rational insurance uses existing insurance when the
transaction costs dictate that filing a claim is not rational.
The loss must not be catastrophic: If the insurer is insolvent, it will be unable to pay the
insured. In the United States, there is a system of Guaranty Funds run at the state level to
reimburse insured people whose insurance companies have become insolvent. This
program is run by the National Association of Insurance Commissioners (NAIC). To avoid
catastrophic depletion of their own capital, insurers almost universally purchase
reinsurance to protect them against excessively large accumulations of risk in a single area,
and to protect them against large-scale catastrophes.
Additionally, “speculative risks” like those incurred through gambling or through the
purchase of company stocks are uninsurable.
Insurance Contract Principles
A property or liability insurance policy is a "personal contract," a "conditional contract,"
a "unilateral contract," a "contract of adhesion," a "contract of indemnity," and a contract
which requires that the person insured have an insurable interest at the time of the
insured-against contingency.
Further: An Insurance Contract is one of Uberrima fides. This is a Latin phrase meaning
"utmost good faith" (or translated literally, "most abundant faith"). It is name of a legal
doctrine which governs insurance contracts. This means that all parties to an insurance
contract must deal in good faith, making a full declaration of all material facts in the
insurance proposal. This contrasts with the legal doctrine of caveat emptor (let the buyer
beware).
Personal Contract
Property and liability insurance policies cover persons and not property or operations.
Although the terms "insured my house" or "insured my motorcycle" are used commonly,
they are not technically correct. The contract between the insurer and the insured is a
18. NICOLAE SFETCU: INSURANCE GLOSSARY
17
personal contract between an insuring entity and a person(s) based upon their financial,
"insurable interest", in the object or liability being insured. In other words, the question of
whether payment is due upon the occurrence of a contingency, and how such payment will
be measured, depends upon economic loss suffered by the person(s).
Conditional Contract
Property and liability insurance policies are said to be "conditional contracts" because
the obligation of the insurer to perform may be conditioned upon the insured satisfying
certain conditions.
Unilateral Contract
Only one party is legally bound to contractual obligations after the premium is paid to
the insurer. Only the insurer has made a promise of future performance, and only the
insurer can be charged with breach of contract.
Contract of Adhesion
Property and liability insurance policies are said to be "contracts of adhesion" because
the insurer and insured parties are of unequal bargaining power where the insured party
cannot negotiate the terms of the contract and must take the offer of the insurer as made.
Importantly, the rule of law regarding "contracts of adhesion" is that any ambiguities
resolve in favor of the insured.
Contract of Indemnity
Property and liability insurance policies are said to be "contracts of indemnity" because
the purpose of insurance is to indemnify the insured—that is, to make good a loss that the
insured has suffered. The principle of indemnification is that the insured should not profit
from the policy. This does not preclude that the insured will suffer some loss. In fact, many
policies include a deductible which guarantees that the insured will pay part of each loss
himself.
Insurable Interest
Insurable interest is one wherein economic loss would be suffered from an adverse
occurrence to the person(s) insured.
A contract of insurance is valid in law only if the insured has an insurable interest—that
is, if he has a legally recognized financial relationship with the subject matter of the
insurance and stands to lose out if that subject is damaged.
19. NICOLAE SFETCU: INSURANCE GLOSSARY
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Indemnification
An entity seeking to transfer risk (an individual, corporation, or association of any type)
becomes the 'insured' party once risk is assumed by an 'insurer', the insuring party, by
means of a contract, defined as an insurance 'policy'. This legal contract sets out terms and
conditions specifying the amount of coverage (compensation) to be rendered to the
insured, by the insurer upon assumption of risk, in the event of a loss, and all the specific
perils covered against (indemnified), for the term of the contract.
When insured parties experience a loss for a specified peril, the coverage entitles the
policyholder to make a 'claim' against the insurer for the amount of loss as specified by the
policy contract. The fee paid by the insured to the insurer for assuming the risk is called the
'premium'. Insurance premiums from many clients are used to fund accounts set aside for
later payment of claims—in theory for a relatively few claimants—and for overhead costs.
So long as an insurer maintains adequate funds set aside for anticipated losses, the
remaining margin becomes their profit.
How an insurance company makes money
Profit = Earned Premium + Investment Income - Incurred Loss - Underwriting
Expenses.
Insurers make money in two ways. Through underwriting, the process through which
insurers select what risks to insure and decide how much premium to charge for accepting
those risks and by investing the premiums they have collected from insureds.
The most difficult aspect of the insurance business is the underwriting of polices. Based
on a wide assortment of data, insurers predict the likelihood that a claim will be made
against their polices and price products accordingly. At the end of the policy term, the
amount of premium collected minus the amount paid out in claims is the insurer's
underwriting profit.
An insurer's underwriting performance is measured in their combined ratio. The loss
ratio (incurred losses and loss-adjustment expenses divided by net earned premium) is
added to the expense ratio (underwriting expenses divided by net premium written) to
determine the company's combined ratio. The combined ratio is a reflection of the
company's overall underwriting profitability. A combined ratio of less than 100 percent
indicates profitability, while anything over 100 indicates a loss.
One company that is famous for achieving underwriting profit is American
International Group.
Berkshire Hathaway, by contrast, is famous for making its money on "float" rather than
underwriting profit. “Float” describes a process by which insurers invest insurance
premiums as soon as they are collected and make interest on these monies before claims
must be paid out.
Naturally, the “float” method is difficult to carry out in an economically depressed
period. Bear markets do cause insurers to shift away from investments and to toughen up
their underwriting standards. So a poor economy generally means high insurance
premiums.
20. NICOLAE SFETCU: INSURANCE GLOSSARY
19
Insurers currently make the most money from their auto insurance line of business.
Generally better statistics are available on auto losses and underwriting on this line of
business has benefited greatly from advances in computing. Additionally, property losses in
the US, due to natural catastrophes, have perpetuated this trend.
Determination of rate structures
The insurer uses actuarial science to quantify the risk they are willing to assume. Data is
generated to approximate future claims, ordinarily with reasonable accuracy. Actuarial
science uses statistics and probability to analyze the risks associated with the range of
perils covered, and these scientific principles are used by insurers, in conjunction with
additional factors, to determine rate structures.
For example, many individuals purchase homeowner's insurance policies by signing a
contract paying a premium to an insurance company. If a covered loss occurs, the insurer is
obliged by the terms of the contract to honor the insured's claim. For some policyholders,
the amount of insurance benefits received from their insurer will greatly exceed the
expense of premiums paid. Others may never make a claim or receive any benefit other
than the peace of mind rendered by the security of an insurance policy. When averaged, the
total claims expense paid by an insurer should be less than the total premiums paid by
their policyholders, with the difference allocated to overhead and profit.
Insurance companies also earn investment profits. These are generated by investing
premiums received until they are needed to pay claims. This money is called the 'float'. The
insurer may make profits or losses from the value change in the float as well as interest or
dividends on the float. In the United States, the underwriting loss of property and casualty
insurance companies was $142.3 billion in the five years ending 2003. But overall profit for
the same period was $68.4 billion, at the result of float. Some insurance industry insiders,
most notably Hank Greenberg, do not believe that it is forever possible to sustain a profit
from float without an underwriting profit as well, but this opinion is not universally held.
Gambling analogy
Some people consider insurance a type of wager (particularly as associated with moral
hazard) that executes over the policy period. The insurance company bets that you or your
property will not suffer a loss while you put money on the opposite outcome. 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 some Muslim groups, 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
21. NICOLAE SFETCU: INSURANCE GLOSSARY
20
into difficulties. This is the reason why most U.S. 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). (Perhaps put differently, in a
gambling transaction the relationship between the bettor and the subject is created
through the bet itself; for an insurance transaction, there is an exogenous relationship,
usual economic or familial, that is connected to the insurance—which is a way of restating
the insurance interest requirement.) With insurance, you are managing risk that you could
not otherwise avoid, and which does not present the possibility of gain (pure risk). Risk
management, the practice of appraising and controlling risk, has evolved as a discrete field
of study and practice. Avoiding, mitigating and transferring certain risk creates greater
predictability for consumers and business, and allows people and organizations to use risk
intelligently to maximize their opportunities.
Historically, gambling has been considered an uninsurable risk. Recent developments,
however, have led 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"
History of insurance
Early methods of transferring or distributing risk were practiced by Chinese and
Babylonian traders as long ago as the 3rd and 2nd millennia BCE respectively. Chinese
merchants traveling treacherous river rapids would redistribute their wares across many
vessels to limit the loss due to any single capsizing. 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.
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21
Achaemenian monarchs were the first to insure their people and made it official by
registering the insuring process in governmental notary offices. The insurance tradition
was performed each year in Norouz (beginning of the Iranian New Year); the heads of
different ethnic groups as well as others willing to take part, presented gifts to the
monarch. The most important gift was presented during a special ceremony and when a
gift was worth more than 10,000 Derrik (Achaemenian gold coin weighing 8.35-8.42) the
issue was registered in a special office. This was advantageous to those presented such
special gifts. For others, the presents were fairly assessed by the confidants of the court.
Then the assessment was registered in special offices.
The aim of registering was that whenever the one who presented the gift registered by
the court was in trouble, the monarch and the court would help him or her. Jahez, a
historian and writer, writes in one of his books on ancient Iran: "... and whenever the owner
of the present is in trouble or wants to construct a building, set up a feast, have his children
married, etc. the one in charge of this in the court would check the registration. If the
registered amount exceeded 10,000 Derrik, he or she would receive an amount of twice as
much."
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. Before insurance
was established in the late 17th century, "friendly societies" existed in England, in which
people donated amounts of money to a general sum that could be used in case of
emergency.
Separate insurance contracts (i.e. insurance policies not bundled with loans or other
kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools
backed by pledges of landed estates. These new insurance contracts allowed insurance to
be separated from investment, a separation of roles that first proved useful in marine
insurance. 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
23. NICOLAE SFETCU: INSURANCE GLOSSARY
22
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.
Types of insurance
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. In some jurisdictions, bodily injury compensation for
automobile accident victims has been changed to No Fault systems, which
reduce or eliminate the ability to sue for compensation but provide automatic
eligibility for benefits.
• Boiler insurance (also known as Boiler and Machinery insurance or
Equipment Breakdown Insurance)
• 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.
24. NICOLAE SFETCU: INSURANCE GLOSSARY
23
• 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.
o 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.)
25. NICOLAE SFETCU: INSURANCE GLOSSARY
24
• Environmental Liability Insurance protects the insured from bodily
injury, property damage and cleanup costs as a result of the dispersal, release or
escape of a pollutant.
• 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, lost of personal
belongings, travel delay, personal liabilities.. etc.
• 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 U.S. 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.
26. NICOLAE SFETCU: INSURANCE GLOSSARY
25
Types of insurance companies
Insurance companies may be classified as
• Life insurance companies, who sell life insurance, annuities and
pensions products.
• Non-life or general insurance companies, who sell other types of
insurance.
In most countries, life and non-life insurers are subject to different regulations, tax and
accounting rules. The main reason for the distinction between the two types of company is
that life business is very long term in nature — coverage for life assurance or a pension can
cover risks over many decades. By contrast, non-life insurance cover usually covers a
shorter period, such as one year.
Insurance companies are generally classified as either mutual or stock companies. This
is more of a traditional distinction as true mutual companies are becoming rare. Mutual
companies are owned by the policyholders, while stockholders, (who may or may not own
policies) own stock insurance companies.
Reinsurance companies are insurance companies that sell policies to other insurance
companies, allowing them to reduce their risks and protect themselves from very large
losses. The reinsurance market is dominated by a few very large companies, with huge
reserves.
Captive Insurance companies may be defined as limited purpose insurance companies
established with the specific objective of financing risks emanating from their parent group
or groups. This definition can sometimes be extended to include some of the risks of the
parent company's customers. In short terms, it is an in-house self-insurance vehicle.
Captives may take the form of a "pure" entity (which is a 100% subsidiary of the self-
insured parent company); of a "mutual" captive (which insures the collective risks of
industry members); and of an "association" captive (which self-insures individual risks of
the members of a professional, commercial or industrial association). Captives represent
commercial, economic and tax advantages to their sponsors due to the reductions on costs
they help create, the ease for insurance risk management and the flexibility for cash flows
they generate. Additionally, they may provide coverage of risks which are neither available
nor offered in the traditional insurance market at reasonable prices.
The types of risk that a captive can underwrite for the parent include property damage,
public and products liability, professional indemnity, employee benefits, employers
liability, motor and medical aid expenses. The captive's exposure to such risks may be
limited by the use of reinsurance.
Captives are becoming an increasingly important component of the risk management
and risk financing strategy of their parent. This can be understood against the following
background:
• heavy and increasing premium costs in almost every line of coverage;
• difficulties in insuring certain types of fortuitous risk;
• differential coverage standards in various parts of the world;
• rating structures which reflect market trends rather than individual
loss experience;
27. NICOLAE SFETCU: INSURANCE GLOSSARY
26
• insufficient credit for deductibles and/or loss control efforts.
There are also companies known as 'insurance consultants'. Like a mortgage broker,
these companies are paid a fee by the customer to shop around for the best insurance
policy amongst many companies .
Similar to an insurance consultant, an 'insurance broker' also shops around for the best
insurance policy amongst many companies. However, with insurance brokers, the fee is
usually paid in the form of commission from the insurer that is selected rather than directly
from the client.
Third Party Administrators are companies that perform underwriting and sometimes
claims handling services for insurance companies. These companies often have special
expertise that the insurance companies do not have.
Life insurance and saving
Certain life insurance contracts accumulate cash values, which may be taken by the
insured if the policy is surrendered or which may be borrowed against. Some policies, such
as annuities and endowment policies, are financial instruments to accumulate or liquidate
wealth when it is needed. See life insurance.
In many countries, such as the U.S. and the UK, tax law provides that the interest on this
cash value is not taxable under certain circumstances. This leads to widespread use of life
insurance as a tax-efficient method of saving as well as protection in the event of early
death.
In U.S., interest income of life insurance policy (or annuity) is income tax deferred in
general. However, its tax deferred benefit may be offset by a low return in some cases. This
depends upon the insuring company, type of policy and other variables (mortality, market
return, etc.). In 2000 and 2001 permanent life insurance had the second greatest
investment return besides real estate. Also, other income tax saving vehicles (i.e. IRA, 401K
or Roth IRA) appear to be better alternatives for value accumulation. Combination of low-
cost term life insurance and higher return tax-efficient retirement account can achieve
better performance.
Size of global insurance industry
Global insurance premiums grew by 9.7% in 2004 to reach $3.3 trillion. This follows
11.7% growth in the previous year. Life insurance premiums grew by 9.8% during the year
due to rising demand for annuity and pension products. Non-life insurance premiums grew
by 9.4% as premium rates increased. Over the past decade, global insurance premiums
rose by more than a half as annual growth fluctuated between 2% and 10%.
Advanced economies account for the bulk of global insurance. With premium income of
$1,217bn in 2004, North America was the most important region, followed by the EU
($1,198bn) and Japan ($492bn). The top four countries accounted for nearly two-thirds of
premiums in 2004. The United States and Japan alone accounted for a half of world
insurance, much higher than their 7% share of the global population. Emerging markets
accounted for over 85% of the world’s population but generated only 10% of premiums.
28. NICOLAE SFETCU: INSURANCE GLOSSARY
27
The volume of UK insurance business totalled $295bn in 2004 or 9.1% of global premiums.
[3]
Financial viability of insurance companies
Financial stability and strength of the insurance company should be a major
consideration when purchasing an insurance contract. An insurance premium paid
currently provides coverage for losses that might arise many years in the future. For that
reason, the viability of the insurance carrier is very important. In recent years, a number of
insurance companies have become insolvent, leaving their policyholders with no coverage
(or coverage only from a government-backed insurance pool with less attractive payouts
for losses). A number of independent rating agencies, such as Best's, provide information
and rate the financial viability of insurance companies.
Controversies
Insurance insulates too much
By creating a "security blanket" for its insureds, an insurance company may
inadvertently find that its insureds may not be as risk-averse as they should be (since the
insured assumes the risk belongs to the insurer). This problem is known to the insurance
industry as moral hazard. To reduce their own financial exposure, insurance companies
have contractual clauses that mitigate their obligation to provide coverage if the insured
engages in some kind of behavior that grossly magnifies their risk of loss or liability.
For example, life insurance providers may require higher premiums or deny coverage
to people who work hazardous occupations or engage in dangerous sports. Liability
insurance providers do not provide coverage for liability arising from intentional torts
committed by the insured. Even if a provider was irrational enough to try to provide such
coverage, it is against the public policy of most countries to allow such insurance to exist,
and thus it is usually illegal.
Complexity of insurance policy contracts
Insurance policies can be complex and some policyholders may not understand all the
fees, regulation and coverages included in a policy. As a result, people could buy policies at
unfavorable terms. In response to these issues, governments often make detailed
regulations that set down minimum standards for policies and govern how they may be
advertised and sold.
Many individuals purchase policies through an insurance broker. The broker can
counsel the policyholder on which coverage to purchase and limitations of the policy. A
broker generally holds contracts with many insurers which allows the broker to "shop" the
market for the best rates and coverage possible.
People may also purchase policies through a "producer" (a seller of insurance). Unlike a
broker, who represents the policyholder, a producer represents the insurance company