Index

Mark Laurence Zammit (Faculty of Economics, Management and Accountancy, Insurance Department, University of Malta, Malta)
Jonathan Spiteri (Faculty of Economics, Management and Accountancy, Insurance Department, University of Malta, Malta)
Simon Grima (Faculty of Economics, Management and Accountancy, Insurance Department, University of Malta, Malta)

The Development of the Maltese Insurance Industry: A Comprehensive Study

ISBN: 978-1-78756-978-2, eISBN: 978-1-78756-977-5

Publication date: 3 October 2018

This content is currently only available as a PDF

Citation

Zammit, M.L., Spiteri, J. and Grima, S. (2018), "Index", The Development of the Maltese Insurance Industry: A Comprehensive Study, Emerald Publishing Limited, Leeds, pp. 159-163. https://doi.org/10.1108/978-1-78756-977-520181006

Publisher

:

Emerald Publishing Limited

Copyright © 2018 Emerald Publishing Limited


INDEX

Index

Ab incarnatione
, 89

Accession Treaties
, 33

Acta iuratorum et consilii civitatis et insulae Maltae (Wettinger)
, 42

Air transport
, 75

‘Allfinanz’
, 25

American Life Insurance Co. Ltd (AIG)
, 57

The Anglo-Maltese Insurance Company
, 49–50, 104

Appunti sugli Archivi di Malta
, 11

Archival research

strategy
, 10–11

tools
, 14–15

Associateship of Chartered Insurance Institute (ACII)
, 79

Atlas Assurance Company
, 55

Atlas Group
, 54–55

Atlas Insurance
, 94

Aviation
, 4

‘Bancassurance’
, 25

Basel requirements
, 27

Bilsiner Gilde
, 108

Biological disasters
, 31

Borsa di Malta
, 65–66

Bottomries
, 61

Bottomry Bonds
, 23

British merchants
, 50

British period
, 49–55

British Pound
, 54

Business mentality
, 35

Capital endowment insurance
, 21

Captive insurance
, 1, 22, 58, 73, 103, 107

Cargo insurance

contract for road transport
, 28

market
, 95

Central Bank of Malta
, 82

CGU
, 36

Chamber of Commerce
, 11, 12, 52, 53, 65–66, 75

Citadel Insurance Agency Ltd
, 79

Citadel Insurance plc
, 93

Climate change
, 7, 36–37, 88–89

Climatological disasters
, 31

Close-ended questions
, 15

Comité Européen des Assurances (CEA)
, 25

Commenda
, 59

Commercial Horses Liability
, 96

Commercial Union Assurance Company
, 55

Committee
, 19

Companie di Assicurazioni
, 74

Compensation
, 62

Compulsory Reinsurance Legal Cession
, 74, 94

Concepts
, 3–8

Conceptual Framework
, 3, 5, 8, 10

Consolato di Mare
, 65

Contracts of insurance
, 62

Copies of insurance contracts
, 141–148

Cultural changes
, 7, 37–38, 89–91

Culture
, 4

Cyber risk
, 35–36, 87

Data collection tools
, 14–15

Debitum (debt)
, 47

Disaster recovery
, 6, 31, 79–81

Disruption
, 27

Disruptive technologies
, 27

Disruptors of insurance in Europe
, 27

climate change
, 36–37

cultural changes
, 37–38

disaster recovery
, 31

economic development
, 30

economic needs
, 38–39

economic trends
, 39–40

EU accession
, 33–34

globalisation
, 32–33

industry trends
, 34–35

risk mitigation
, 31–32

socio-political events
, 29–30

technology
, 35–36

transportation
, 27–29

Domiciliation of international insurance companies
, 10

Economic(s)
, 4

capital
, 7, 38–39

development
, 6, 30, 77–79

needs
, 7, 38–39, 91–92

recovery
, 38

trends
, 5, 7, 39–40, 92–93

vulnerability
, 77–78

Education
, 38

Electoral Manifesto of Malta Nationalist Party (1987)
, 66

Elmo Insurance Agency Limited
, 94

Equine insurance
, 96, 103

EU accession
, 7, 33–34, 83–84

Europe

disruptors of insurance in
, 27–40

insurance development in
, 22–26

unemployment in
, 92

European backdrop
, 4

European Commission

directives
, 27

insurance-related directives
, 68

European development
, 6, 41, 58

British period
, 49–55

earliest forms of insurance
, 41

French period
, 48

Knights Hospitaller of St John
, 42–48

Malta post-independence
, 55–58

European Economic Community (EEC)
, 66

European insurers
, 25

European regulations
, 6, 26–27, 63–75

European Union (EU)
, 1, 21

European Union Solvency II Directive
, 69

Eurostat
, 92

Federation of European Risk Management Associations (FERMA)
, 87

Fertility rates
, 92

Financial crisis
, 19, 29, 38–40, 82–83, 92

Financial stress
, 82

‘Fire Office’
, 24

First Committee of Friendly Societies
, 22

Foreign exchange risks
, 40

Free of particular average (FPA)
, 95

French period
, 48

Gasan-Mamo Insurance Co. Ltd.,
, 93

Geophysical disasters
, 31

Globalisation
, 6, 32–33, 81–83

‘Gold-plating of Solvency I’
, 96

Great Fire of London
, 24

Gross premiums
, 34–35

Gross value added (GVA)
, 85

Guarantors
, 61

Guardian Insurance
, 94

Handwriting
, 12

Health insurance
, 19, 25–26, 30, 89, 93

Highly Qualified Person Rules
, 89

Human Resources
, 79

Hydrological disasters
, 31

Income smoothing effect
, 30

Incorporated cell companies (ICCs)
, 1

Indemnity insurance
, 22

Industrial revolution
, 77

Industry professionals
, 2

Industry trends
, 7, 34–35, 84–86

Inflation
, 40

Inland Revenue Service
, 17

Insurance
, 17, 18, 29, 31, 79

capital endowment
, 21

captive
, 1, 22, 58, 73, 103, 107

claims
, 64

contract
, 17, 29

development in Europe
, 22–26

development in Malta
, 100–103

disruptors in Europe
, 27–40

earliest forms of
, 41

flow chart of literature review
, 18

industry
, 11, 32

jurisdictions
, 84

largest insurance companies
, 20

legislation
, 26–27, 97

life
, 57, 103

mergers in insurance market
, 93–94

personal accident
, 30

regulation
, 26–27, 97

undertakings authorised in Malta
, 21

Insurance Business Act
, 22, 67, 69, 71, 73, 94

Insurance Europe
, 25

Insurance industry in Malta
, 1–2, 17

aviation
, 4

concepts and propositions
, 3–8

conceptual framework
, 3

culture
, 4

data collection tools
, 14–15

economic trends
, 5

economics
, 4

European backdrop
, 4

history
, 3

limitations of methodology
, 12–14

methodology
, 9–11

regulation
, 4

sampling methods
, 11–12

significance
, 15–16

trade
, 4

Insurance Information Institute
, 19

Insurance Intermediaries Act
, 69

Insurance Office
, 24

Insurers
, 36

International Chamber of Commerce
, 28

International Commercial Terms (Incoterms)
, 28

Interview information letter and sample questions
, 111–112

Job mobility
, 89

Judicial decisions
, 29

Knights Hospitaller of St John
, 42–48

Land transportation
, 28

Life insurance
, 57, 103

Lloyd’s Market Insurers
, 25

Lloyds of London in Malta
, 51, 105

Local insurance brokers
, 83

Local tax incentives
, 89

Loss adjuster
, 31

“;Maleth” Island of
, 58

Malta
, (see also Insurance industry in Malta)

contributors impede or Foster Malta’s attractiveness for insurance companies
, 106–107

impact and significance of study
, 108–109

influence of EU regulation and legislation on regulation
, 96–97

insurance development in
, 100–103

main contributors to development of insurance in
, 103–105

post-independence
, 55–58

recommendations
, 109

reinsurance
, 94

specific insurance for sport in
, 96

transport system
, 75

Malta Chamber of Commerce
, 62, 64

Malta Export Credit Insurance Company Ltd
, 66

Malta Financial Services Authority (MFSA)
, 1, 56

Malta Financial Services Centre (MFSC)
, 66

Malta Insurance Management Association survey
, 1

Malta International Business Authority (MIBA)
, 74, 94

Malta International Training Centre (MITC)
, 9

Malta International Training Centre
, 79

Maltese commercial laws
, 65

Maltese courts
, 65

Maltese Insurance Company, The
, 49

Maltese Scud
, 54

‘Marine Cargo Clauses. A Collection of Non-Institute Clauses’ (Pace)
, 95

Mediterranean Insurance Brokers
, 79, 86

Mediterranean Insurance Training Centre (MITC)
, 79

Merchant associations and partnerships
, 62

Mergers in insurance market
, 93–94

Meteorological disasters
, 31

Middlesea Insurance Co. Ltd
, 56–57, 69, 71, 78–79, 94, 96, 103

Middlesea Valletta Life Assurance Co. Ltd
, 57

Mobile devices
, 86–87

Motor insurance
, 103

Munich RE
, 36

National Archives in Mdina
, 45

Natural disasters
, 31

Non-Institute Marine Cargo Insurance Clauses
, 95

Non-probability purposive techniques
, 11–12

The Northern Assurance Company Ltd
, 55

Notarial Archives
, 11, 12, 14, 46–47, 60, 64, 76, 101

Notarial Archives Valletta
, 45, 113–137

Notarial contracts
, 107–108

Notarial meanings
, 139–140

Offshore companies
, 94

Oil spillage, risk of
, 80

Open-ended questions
, 13, 15

PERLA Protection Plan
, 93

PERLA Retirement Plan
, 93

Personal accident insurance
, 30

Photovoltaic panels
, 35

Policyholders
, 35

Political interventions
, 29

Port Activities in Mid-Sixteenth Century Malta
, 59

Post-World War II
, 29

Premium
, 17, 20–23, 25, 28, 31, 34, 45, 71, 85, 93

Propositions
, 3–8

Protected cell companies (PCCs)
, 1, 22

Prudential Regulation Authorities (PERG)
, 17

Re-Insurance
, 103, 107

business
, 22

Regulation
, 4

European regulations
, 6, 26–27, 63–75

Insurance regulation
, 26–27, 97

regulation
, 4

Regulatory framework
, 10

‘Rendiconto del Primo Ezercizio della Camera di Commercio’
, 75

Research findings
, 41

authorised insurance companies
, 67

climate change
, 88–89

cultural changes
, 89–91

disaster recovery
, 79–81

economic development
, 77–79

economic needs
, 91–92

economic trends
, 92–93

EU Accession
, 83–84

European commission insurance-related directives
, 68

European development
, 41–58

European regulations
, 63–75

globalisation
, 81–83

industry trends
, 84–86

Maltese subsidiary legislation relating to insurance
, 70

propositions
, 93–97

risk mitigation
, 81

socio political events
, 76–77

technology
, 86–87

trade
, 58–63

transportation
, 75–76

Resilience
, 77–78

Respectable Merchant
, 51

Respondentia bonds
, 61

Rhodian Sea Law
, 19, 22–23

Risk

cyber
, 35–36, 87

foreign exchange
, 40

mitigation
, 6, 31–32, 81

partnerships
, 34

risk of oil spillage
, 80

RMS
, 36

Roman Catholic Church
, 44

Rome Convention
, 26

Royal Commissioners
, 65

Royal International Insurance Holdings Ltd
, 94

Royal Sun Alliance
, 94

Sampling methods
, 11–12

Sea Malta
, 86

Sea-exchange contract
, 60

Semi-structured interviews, tools using in
, 15

Sicily Channel
, 79–80

Snowballing sampling techniques
, 11–12

Societas maris
, 59

Society of British Merchants
, 49

Socio-political events
, 6, 29–30, 76–77

Socio-political framework of Malta
, 10

Solvency Capital Requirement (SCR)
, 39

Solvency I Directive
, 27, 96

Solvency II directive
, 27, 39, 68, 90–97

Sound insurance industry
, 39

Sub agents
, 73

in areas of life insurance
, 57

Surety
, 43, 44

Technology
, 7, 35–36, 86–87

Tokyo Marine Holdings
, 36

Trade
, 4, 6, 58–63, 103

The Tradesman (Barnard)
, 49

Transportation
, 6, 27–29, 75–76

Treaty of Rome
, 25–26

Unemployment in Europe
, 92

Universal healthcare
, 37

Value at risk (VaR)
, 39

With average (WA)
, 95