IDEAS home Printed from https://ideas.repec.org/a/prg/jnlcfu/v2014y2014i1id382p72-86.html
   My bibliography  Save this article

The Level of Knowledgeableness of Insurers about Insurance Value within Business Insurance against Natural Disasters in the Czech Republic
[Úroveň informovanosti pojistitelů o pojistné hodnotě v rámci živelního pojištění majetku podniku v České republice]

Author

Listed:
  • Lenka Přečková

Abstract

This article elaborates on how information is provided in the terms and conditions of various insurers and how it is related to one of potential demonstrations of information asymmetry. The aim of this article is to evaluate the level of knowledgeableness in the insurance conditions of the characteristic insured value within insured property. The research was carried out till the date Dec 1, 2013.This article analyses the supply side of the insurance market, i.e. insurers, evaluating how insurers inform their clients of the characteristic insured value. Evaluation of the rate of knowledgeableness is achieved by the method of comparison of the standard of information with actual information provided within the insurers' terms and conditions. This article also presents a calculation of the rate of knowledgeableness. The standard of information is established based on analysis and synthesis of knowledge of insurance theory, practice and legislation in the Czech Republic. The method of selection is also used. The outcome of this article is a model of the standard terms and conditions regarding the characteristic insured value, evaluation of knowledgeableness within the Czech insurance market and presentation of specific recommendations for the insurance market to improve the rate of knowledgeableness.

Suggested Citation

  • Lenka Přečková, 2014. "The Level of Knowledgeableness of Insurers about Insurance Value within Business Insurance against Natural Disasters in the Czech Republic [Úroveň informovanosti pojistitelů o pojistné hodnotě v rá," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(1), pages 72-86.
    • Handle: RePEc:prg:jnlcfu:v:2014:y:2014:i:1:id:382:p:72-86
    DOI: 10.18267/j.cfuc.382
    as

    Download full text from publisher

    File URL: http://cfuc.vse.cz/doi/10.18267/j.cfuc.382.html
    Download Restriction: free of charge
    File URL: http://cfuc.vse.cz/doi/10.18267/j.cfuc.382.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.cfuc.382?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Rate of knowledgeableness; Information asymmetry; Unawareness risk; Insurance market; Míra informovanosti; Asymetrie informací; Riziko neznalosti informace; Pojistný trh;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlcfu:v:2014:y:2014:i:1:id:382:p:72-86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.