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Premium subsidy rates were increased in 2019 and 2020 for livestock risk protection (LRP) insurance, which is price insurance for cattle producers. The authors examined if the LRP subsidy rate changes affected the LRP coverage levels purchased by feeder and fed cattle producers.

The authors collected the United States Department of Agriculture Risk Management Agency summary of business sales data for daily LRP purchases from 2015 to 2023. The authors estimated a multinomial logit model to determine if subsidy rate changes were associated with the likelihood of LRP policies being purchased at different coverage levels.

After the 2019 and 2020 subsidy rate changes, the likelihood of producers buying LRP-feeder cattle policies with coverage over 95% increased relative to the policies with coverage less than 89.99% but did not influence the likelihood of producers buying LRP-feeder cattle policies with coverage between 90 and 94.99% relative to policies with coverage less than 89.99%. Marginal effects show these subsidy rate changes increased the likelihood of buyers purchasing LRP-feeder cattle policies with greater than 95% coverage. The subsidy change did not affect the purchase of LRP-fed cattle policies.

The results demonstrate the influence of the recent LRP policy adjustments on insurance purchases, which could be important for agency officials and policy makers. This is the first study to explore the LRP policy purchases which provides the United States cattle industry insight into the LRP price insurance take-up, which can guide producer extension education on managing price risk.

The purpose of this study is to predict family takāful purchase intentions (FTPIs) using an extended theory of planned behavior (TPB) with relevant mediating and moderating factors.

This study is based on a survey of 384 Muslim employees who work in both government and private organizations. This study used partial least square structural equation model (PLS-SEM) for hypothesis testing, predictive relevance and measuring the effect size of the model.

The study found that attitude (ATT), subjective norms (SN), perceived behavioral control (PBC), saving motives (SM), promotional campaign (PC) and religiosity (RG) directly contribute to the prediction of FTPIs. Furthermore, ATT and SM partially mediate between PC and FTPI. Moreover, RG significantly moderates the association between ATT, SN, SM and FTPI, while RG insignificantly moderates the link between PBC and FTPI.

This study provides insight into understanding the factors leading to an enhanced understanding of FTPI in a country where the industry is growing very fast. Further, the study suggests informative and persuasive promotions to encourage FTPI in Bangladesh and similar countries.

This study provides insights into previously unaddressed FTPI among Muslim employees in Bangladesh and similar countries. Prior work on determining FTPI has not focused on promotional campaigns and saving motives, and thus, this study has extended TPB to understand the phenomenon.

The authors consider the mutual benefits of the ceding company and reinsurance company in the design of reinsurance contracts. Two objective functions to maximize social expected utilities are established, which are to maximize the sum of the expected utilities of both the ceding company and reinsurance company, and to maximize their products. The first objective function, additive, emphasizes the total gains of both parties, while the second, multiplicative, accounts for the degree of substitution of gains of one party through the loss of the other party. The optimal price and retention of reinsurance are found by a grid search method, and numerical analysis is conducted. The results indicate that the optimal solutions for two objective functions are quite different. However, optimal solutions are sensitive to the change of the means and volatilities of the claim loss for both objective functions. The results are potentially valuable to insurance regulators and government entities acting as reinsurers of last resort.

In this paper, the authors apply relatively simple, but in the view significant, methods and models to discuss the optimization of excess loss reinsurance strategy. The authors only consider the influence of loss distribution on optimal retention and reinsurance price but neglect the investment factor. The authors also consider the benefits of both ceding company and reinsurance company to determine optimal premium and retention of reinsurance jointly based on maximizing social utility: the sum (or the product) of expected utilities of reinsurance company and ceding company. The authors solve for optimal solutions numerically, applying simulation.

This paper establishes two optimization models of excess-of-loss reinsurance contract against catastrophic losses to determine optimal premium and retention. One model considers the sum of the expected utilities of a ceding company and a reinsurance company's expected utility; another considers the product of them. With an example, the authors find the optimal solutions of premium and retention of excess loss reinsurance. Finally, the authors carry out the sensitivity analysis. The results show that increasing the means and the volatilities of claim loss will increase the optimal retention and premium. For objective function I, increasing the coefficients of risk aversion of or reducing the coefficients of risk aversion of will make the optimal retention reduced but the optimal premium increased, and vice versa. However, for objective function 2, the change of coefficient of risk aversion has no effect on optimal solutions.

Utility of the two partners: The ceding company and the reinsurance company, may have different weights and different significance. The authors have not studied their relative significance. The simulation approach in numerical methods limits us to the probability distributions and stochastic processes the authors use, based on, generally speaking, lognormal models of rates of return. This may need to be generalized to other returns, including possible models of shocks through jump processes.

In the recent two decades, reinsurance companies have played a great role in hedging mega-catastrophic losses. For example, reinsurance companies (and special loss sharing arrangements) paid as much as two-thirds of the insured losses for the September 11, 2001 tragedy. Furthermore, large catastrophic events have increased the role of governments and regulators as reinsurers of last resort. The authors hope that the authors provide guidance for possible balancing of the needs of two counterparties to reinsurance contracts.

Nearly all governments around the world are engaged in regulation of insurance and reinsurance, and some are reinsurers themselves. The authors provide guidance for them in these activities.

The authors believe this paper to be a completely new and original contribution in the area, by providing models for balancing the utility to the ceding insurance company and the reinsurance company.

我們探討分出公司和再保險公司在再保險合約的設計上、如何能達至互利互惠。研究確立了兩個目標函數，分別為把分出公司和再保險公司兩者之預期效用的總和最大化，以及把它們的產品最佳化。第一個目標函數是加法的，強調兩個參與方的總增益;而第二個目標函數則是乘法的，這個目標函數，闡釋參與方因另一方虧損而有所收益之取代度。再保險的最佳價格和自留額是利用網格搜索法找出的，數值分析也予以進行。研究結果顯示，兩個目標函數的最佳解決方案甚為不同。唯最佳解決方案會對就這兩個目標函數而言的追討損失的波動、以及其平均值之改變產生敏感反應。研究結果將會見其價值於作為在萬不得已的時候的再保險人的保險業規管機構和政府實體。

在這學術論文裡，我們採用了相對簡單、但我們認為是重要的方法和模型，來探討超額賠款再保險策略的優化課題。我們只考慮虧損分佈對最佳自留額和再保險價格的影響，而不去檢視投資因素。我們亦考慮對分出公司和再保險公司兩者的利益，來釐定最佳保費和再保險的自留額，而這兩者則共同建基於把社會效益最大化之上：再保險公司和分出公司的預期效益的總和 (或其積數) 。 我們採用類比模仿方法、來解決尋求在數字上最佳解決方案的問題。

本研究建立了就應對嚴重虧損而設的兩個超額賠款再保險合約的優化模型，來釐定最佳的保費和自留額。其中一個模型考慮了分出公司和再保險公司兩者各自的預期效益的總和。另外的一個模型則考慮了兩者的預期效益的積數。透過例子，我們找到了保費和超額虧損再保險自留額的最佳解決方案。最後，我們進行了敏感度分析。研究結果顯示、若增加追討損失的平均值和波動，則最佳自留額和保費也會隨之而增加。就第一個目標函數而言，若增加風險規避係數、或減少這個係數，則最佳自留額會隨之而減少，但最佳保費卻會隨之而增加，反之亦然。唯就第二個目標函數而言，風險規避係數的改變，對最佳解決方案是沒有影響的。

• – 有關的兩個夥伴之效用性：分出公司和再保險公司或有不同的份量和重要性。我們沒有探討兩者的相對重要性。

• – 我們以數值方法為核心的類比模仿研究法、使我們局限於機率分配和一般而言建基於投資報酬率對數常態模型之隨機過程的使用。我們或許需要調節研究法。以能概括其它回報收益，包括透過跳躍過程而可能達至之沖擊模型。

– 有關的兩個夥伴之效用性：分出公司和再保險公司或有不同的份量和重要性。我們沒有探討兩者的相對重要性。

– 我們以數值方法為核心的類比模仿研究法、使我們局限於機率分配和一般而言建基於投資報酬率對數常態模型之隨機過程的使用。我們或許需要調節研究法。以能概括其它回報收益，包括透過跳躍過程而可能達至之沖擊模型。

在過去20年裡，再保險公司在控制極嚴重災難性的損失上曾扮演重要的角色。例如、再保險公司 (以及特殊的損失分擔安排) 為了2001年9月11日的災難事件而支付多至保險損失的三分之二的費用。而且，重大的災難性事件使政府及作為最後出路再保險人的調控者得扮演更重要的角色。我們希望研究結果能為再保險合約兩對手提供指導，以平衡雙方的需要。

全球差不多每個政府都參與保險和再保險的管理工作，有部份更加本身就是再保險人。研究結果為他們的管理工作提供了指導。

我們相信本學術論文、提供了平衡分出保險公司和再保險公司效用性的模型，就此而言，本論文在相關的領域上作出了全新和獨創性的貢獻。

The increasing capabilities of artificial intelligence (AI) are changing the way organizations operate and interact with users both internally and externally. The insurance sector is currently using AI in several ways but its potential to disrupt insurance is not clear. This research evaluated the implementation of AI-led automation in 20 insurance companies. The findings indicate four business models (BM) emerging: In the first model the insurer takes a smaller part of the value chain allowing others with superior AI and data to take a larger part. In the second model the insurer keeps the same model and value chain but uses AI to improve effectiveness. In the third model the insurer adapts their model to fully utilize AI and seek new sources of data and customers. Lastly in the fourth model a technology focused company uses their existing AI prowess, superior data and extensive customer base, and adds insurance provision.

This study aims to identify the propensity for clients (legal and natural persons) to adopt peer-to-peer (P2P) short-term insurance policies as opposed to traditional and/or centralized short-term.

In this paper data was collected through a survey of 102 sampled short-term insurance clients using convenience sampling. The TAM2 questionnaire was adapted to evaluate the intention to adopt a P2P insurance policy.

The findings of this study shed light on the factors influencing the adoption and (dis)continuation of short-term insurance products, both traditional and digital, among South African consumers. The results demonstrate that perceived usefulness, ease of use, trust, risk perception and subjective norm play crucial roles in individuals' intention to use or (dis)continue the use of these insurance products.

The study's findings provide actionable insights for practitioners in the short-term insurance sector, with a focus on marketers and e-commerce professionals. These insights emphasize the need to prioritize user-friendly design and trust-building measures in the development of P2P insurance systems. Additionally, practitioners should consider harnessing the power of social influence and carefully balancing innovative features with familiarity in their marketing efforts. These strategies are poised to enhance the adoption and competitive positioning of P2P insurance solutions amidst the evolving landscape of digital transformation.

This study makes a substantial contribution by employing the technology acceptance model (TAM) in a novel and unconventional manner. It not only explicates the intricate dynamics governing the adoption and discontinuation of short-term insurance products, encompassing both conventional and digital alternatives, within the South African consumer milieu but also extends its purview to infer the reasons behind the limited widespread adoption of the digital counterpart, despite its superior value proposition compared to the traditional offering. The findings elucidate the critical determinants shaping individuals' decisions in this dynamic market segment. This research enhances the global discourse on insurance adoption with a unique South African perspective and furnishes insurers and marketers with empirically grounded insights to optimize their strategies and cultivate substantive connections with their target demographic.

Mainland Tanzania has seen two decades of significant social policy reforms and transformations in its social and economic structures, whilst the country continues to grapple with persisting gender inequalities. This article examines Tanzania's social policy developments from a gender perspective. The authors analyse the level, reach and quality of social policy delivery to working-age women across the areas of health policy, social protection and employment policy during 2000–2021.

The article draws on qualitative research deploying the scoping review method. The data consist of diverse secondary materials, including academic publications, government policy documents, relevant statistics and other types of “grey” literature.

Tanzania has made significant advancements in the legal frameworks around welfare provision and has instituted increasingly gender-responsive government policy plans. The health and social protection sectors, in particular, have witnessed the introduction of large-scale measures expanding social policy implementation. However, social policy delivery remains two-tiered, with differences in provisions for women in the formal and informal sectors.

Social policy delivery and implementation have increased and diversified in Sub-Saharan Africa (SSA) during the new millennium, with a growing integration of gender-specific policy objectives. However, limited social policy scholarship has focused on the gendered effects of broader social policy models in SSA. The article remedies the concomitant knowledge gaps by examining various social policies and their impacts on working-age women in Mainland Tanzania. The authors also engage with the theoretical welfare regime literature and present an analytical framework for gender-sensitive assessment of emerging social policy models in the Global South.

From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making the documenting of its early days of establishment relatively difficult and somewhat unreliable. This is unlike conventional insurance, where the history and legislation are well documented and archived in various research (Hellwege, 2016; Marano and Siri, 2017). The purpose of this paper is to provide a chronology for the establishment and development of takaful via the takaful establishment in each jurisdiction, documenting its first takaful operator and first takaful regulation.

This paper has used a qualitative method in the form of reviewing literature and available data such as journals, books and official resources. The data is thoroughly analysed in order to build the chronology for takaful. It adopted an exploratory research design, which is deemed suitable in situations where few works of literature have examined the subject (Neuman, 2014). The paper explores the establishment and non-establishment of takaful in 57 countries. The paper categorises the countries into seven regions starting with the GCC, Levant, Asia, Central Asia, Africa, Europe and Others.

The takaful chronology presented in this paper shows that takaful operations exist in 47 jurisdictions, starting from Sudan and the UAE in 1979, with the most recent adopters being Morocco and Iran in December 2021. It is found that 22 jurisdictions do not have takaful regulations, and the Takaful Act 1984, issued in Malaysia, is considered the first takaful regulation that sets the basis for other regulations that follow.

The paper contributes to the literature by providing a comprehensive chronology of takaful, especially as the few existing timelines have been found to be incomplete and consist of contradictory information.

Many countries around the world are facing great challenges from their ageing population with shrinking workforce, this will put more pressure on their financial system and will increase the public spending on care costs provided to older people. Egypt is in the phase of establishing a new law for older people care's rights, a law that will organise how older people in need for care would benefit from access to government financial support and how will families support their older relatives financially and how the care costs will be shared between the older people, their families and the government.

The paper examines the suitability two cost-sharing methods and applying them to assess the effect on the individuals and families' income strain.

The preferred approach can be used for sharing costs as it applies a gradual funding withdrawal by the government and provide more fairness and flexibility for application in different regions. Besides, the parameters of this approach can be used by policy makers to control the levels of funding.

The paper will be the first to discuss the intergenerational fairness from a financial perspective in Egypt to avoid forcing older people into poverty or resorting to poverty trade-off.