IDEAS home Printed from https://ideas.repec.org/h/spr/sptchp/978-3-319-52851-9_3.html
   My bibliography  Save this book chapter

The Insurance Undertaking

In: Fundamentals of the Insurance Business

Author

Listed:
  • Massimiliano Maggioni

    (University of Milano)

  • Giuseppe Turchetti

    (Sant’Anna School of Advanced Studies)

Abstract

This chapter aims to explain how insurance works. The insurance undertaking offers insurance cover to an insured and receives a premium by way of counter performance. Differently from other productive sectors, the insurance sector also plays a delicate social role. The basic function of an insurer consists in fact of increasing the security of persons and undertakings by protecting individuals and society against risks. This applies both in respect of events or situations that are unknown and unforeseeable, that relate to old-age pensions and healthcare insurance given the tension there is a number of state public accounts. The equilibrium of an insurance undertaking is based on the economic and financial issues of management. This equilibrium changes over time as the make-up and trends of a portfolio of risks that an undertaking has built up over years is subject to variation. Finally, an insurance undertaking is subjected to several risks as it carries on its business: technical actuarial risks, financial risks and business risks.

Suggested Citation

  • Massimiliano Maggioni & Giuseppe Turchetti, 2024. "The Insurance Undertaking," Springer Texts in Business and Economics, in: Fundamentals of the Insurance Business, chapter 3, pages 35-51, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-52851-9_3
    DOI: 10.1007/978-3-319-52851-9_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:sptchp:978-3-319-52851-9_3. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.