Insurance as a Means of Risk Transfer
Insurance as a Means of Risk Transfer

Author(s): Elena Šira, Katarina Radvanska
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: ASERS Publishing
Keywords: risk; risk management; risk transfer; insurance; Herfindahl–Hirschman Index; concentration ratio
Summary/Abstract: This chapter provides an overview of basic definitions and divisions of risk. It contains characteristics of risk management and a description of its components. Risk management is designed for different strategies and one of them is the transfer of risk, which can be done in several ways. One of them is the insurance. Insurance is one of the most common ways how businesses cope with risk. Therefore, there are given the basic characteristics of insurance and insurance market in the next section. One of the ways how to assess the market is to analyze its concentration. For the assessment of the concentration of insurance markets in selected countries were used Herfindahl-Hirschman Index and concentration ratio.

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