Insurance Brokers’ behaviour: the effect of policy collection on management decisions
Spanish legislation on insurance and reinsurance mediation stipulates that intermediary can only receive commissions and fees for the management of their policies and prohibits any other form of remuneration. However, it is possible that financial intermediaries who manage larger risks wait until th...
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| Format: | article |
| Publication Date: | 2022 |
| Country: | España |
| Institution: | Universidad Católica de Valencia San Vicente Mártir |
| Repository: | RIUCV. Repositorio de la Universidad Católica de Valencia San Vicente Mártir |
| Language: | English |
| OAI Identifier: | oai:riucv.ucv.es:20.500.12466/4222 |
| Online Access: | http://hdl.handle.net/20.500.12466/4222 |
| Access Level: | Open access |
| Keyword: | Insurance Brokers Operating Performance Collecting Premium Risk Coverage Deferring the Payment Regression model Sizes and Sales Corredor de Seguros Rendimiento Operativo Cobro de la Prima Cobertura del Riesgo Aplazamiento del Pago Modelo de Regresión Tamaños y Ventas 5312.06 Finanzas y Seguros |
| Summary: | Spanish legislation on insurance and reinsurance mediation stipulates that intermediary can only receive commissions and fees for the management of their policies and prohibits any other form of remuneration. However, it is possible that financial intermediaries who manage larger risks wait until the end of the legal deadline to settle with insurance companies. This common practice in the insurance market hides additional remuneration in defiance of the law. It also means that the risk is not covered within the prescribed period and would, involve a commercial payment to the client, and, on the other hand, affect sustainable claims management. |
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