Klaipėdos universitetas

On purpose to increase the demand for insurance services in Lithuania there still remains a problem of how consumers perceive this service as well as what components, influencing their decision to purchase non-life insurance products, they accentuate in the price of insurance service. Emphasizing the assumptions of sustainable economic development in Lithuania and attempting to form regional policy by means of research, the study was implemented in order to identify factors and causal relationships that determine non-life insurance product purchasing motives in Lithuania. The study conducted a survey of Klaipeda city residents who buy various insurance products in different insurance companies. In total 420 respondents participated in this survey. To verify the results of the research three tests were applied: Pearson‘s Chi-square test, Fisher test (Fisher’s exact) and Cramer’s V test. It was identified that friends’ recommendations do not affect consumer‘s choice for insurance products. Higher rates of benefits as well as flexible pricing policy were not important factors choosing an insurance company. High insurance product’s cost and unclear conditions set in the contracts do not encourage consumers to purchase them. In the course of the research significant relationships between the consumer’s choice to insure by specific insurance product and consumer’s discount-enhanced motivation to purchase insurance products were not observed. All measured insurance products did not reflect statistically significant correlations between the decision to get insured and the knowledge about the prices in other insurance companies.

Nors perdraudimo veiklos ištakomis galima laikyti 1370 m., ši veikla XXI amžiuje vis dar yra aktuali. Įvertinus perdraudimo veiklos svarbą šiuolaikiniame pasaulyje, šiame straipsnyje pateikiamos teorinės įžvalgos apie perdraudimo veiklą. Pritaikius mokslinės literatūros sisteminimo, lyginamosios analizės, kokybinės turinio analizės ir atvejo analizės metodus, pateikiamos teorinės perdraudimo veiklos interpretacijos. Atlikus minėtą analizę, išsiaiškinta, kad perdraudimo veiklos svarba yra akivaizdi tiek pirminiam draudikui, tiek perdraudikui. Žinoma, atsižvelgiant perdraudimo formą, grupės ir rūšies sutarties sąlygos bei pirminio draudiko ir perdraudiko įsipareigojimai gali skirtis, tačiau vis tiek siekiama suderinti draudiko portfelį ir didinti draudimo pajėgumą, norint apsisaugoti nuo galimų katastrofinių įvykių. Viena iš šių tikslų siekimo priemonių ir yra perdraudimo veikla.

Geothermal and hydropower projects tend to be capital intensive and with long repayment periods. These projects can be challenging, especially in developing and emerging countries in transition often characterized by changing and unpredictable political and business environments. Developing and emerging countries are eligible for support from international financial institutions (IFIs) such as the World Bank Group and regional development banks and can also receive assistance from bilateral donor institutions. PPPs enable pooling of public, private and donor funds for clean energy investment. A well designed PPP can be a venue for scaling up funding for clean energy investment internationally. However, little point exists in forming PPPs if, for example, the private sector partner captures most or all the benefits, or if the government keeps changing the rules of the game resulting in a non-viable project. The focus of this article is on PPPs, potential benefits and challenges for host governments and various partners, including the private sector, bilateral donors, and multilateral institutions such as IFIs. When disputes occur between the private sector and host governments, IFIs can potentially play an important role in resolving disputes and help ensure the fair sharing of the risks and the rewards of the PPP for all the parties involved. The objective of this article is to review some recent theoretical research recently done on PPP, potential benefits as well as some challenges using this model in developing and emerging countries.

This paper considers and analyses current trends of the global, European and Latvian insurance markets. Insurance constitutes the most important way to minimize and eliminate economic losses in a company resulting from unfavourable events. Insurance is one of the most efficient methods of enterprise risk management. The entrepreneur must be informed regarding the offered insurance services, the insurance market participants and the insurance market state for the insurance coverage implementation. This information will enable to provide reliable insurance coverage in order to ensure the enterprise’s financial stability. The authors analyse the financial activity index and conduct its comparative analysis, establish general trends and existing differences in the insurance market development in the world, the EU and in Latvia. The paper highlights the insurance market structure and differences in the scope of the life insurance sector existing in the EU and in Latvia. Moreover, description of insurance types, participants of the insurance market in Latvia and the insurance market’s state are also provided. The findings can be used by insurers and entrepreneurs for insurance coverage implementation in Latvia.

Risk management is one of the most critical and important areas that affects every insurance company’s activity and development. The goal of the research is to identify and establish the most important parts of risk management with the aim to improve the insurance company’s reliability with the risk self-assessment. Also risk management is one of the most significant functions under Solvency II Directive framework. The methods chosen for conducting the research are: literature exploring, comparative methods, modeling, analysis, methods of expert evaluation.

The article identified that while insurance companies offering for their customers the same coverage for the same risk, insurance price gains a high importance. Most of the clients are sensitive to the insurance prices level, however, for the consumers to choose desired insurance product according to its price between different insurance companies is very difficult. Therefore, using research methodology to form regional policy, made in Lithuania market operating insurance companies non-life insurance products prices comparative analysis. This study highlight non-life insurance types, i.e., insurance against accidents (in the same structure and insurance against sickness), transport insurance, property insurance, travel insurance, third party liability insurance rates. It should be emphasized that different types of non-life insurance prices can be influenced by different factors. The Compulsory motor third party liability insurance (further CMTPL) price of the insurance affects the value of the vehicle, first registration, the gender of the vehicle driver, age, place of residence, driving experience, recurrence of insured events, the insurance contract signature period (which is important because insurance companies in this case applies price discounts), the vehicle’s engine power. Insurance against accidences and travel insurance prices are determined by user’s gender, age, work type. Property insurance price depends on the value of the property. In order to be able to compare with each other different insurance companies, operating in Lithuania, insurance prices, was formed for different non-life insurance type’s model and used in all cases in representative Lithuania major city. After systemizing in Lithuania sold non-life insurance product prices observed that in different insurance companies they are significantly different. The most varies vehicle insurance the same insurance types the scale of premiums in different companies. Insurance against accidents prices in different insurance companies can vary up to five times. Collected insurance prices data analysis revealed differences in prices reaching up to 5 times of various insurance products in Lithuania operating different non-life insurance companies. Insurance companies may have several priority insurance products which they are trying to sell in the market for even lower than the lowest market price. At the same time the incurred losses may transfer to the other types of insurance therefore other types of insurance price may be much higher that the competitors in the same market. The most important of insurance proposal is not a price, but risk indemnity insurance amount and refunds. Therefore, once again, it should be mentioned that on the basis of price analyse insurance products offerings appropriate. Very often to compare with each other different companies presented insurance product prices for the average consumer is impossible. For the consumer the content (conditions) and the price structure of the insurance product must be clear, in order that the consumer purchasing insurance would feel calm and safe. It should be noted that the consumer hardly realizing the value of the insurance product, i.e., price, insurance companies require a new approach to pricing strategy formation importance and the same pricing in general.