Original Research Paper
Economics of finance / insurance
Farinaz Aghaei; Mohammad-Ali Eghbali; Morteza Rasti-Barzoki
Articles in Press, Accepted Manuscript, Available Online from 11 March 2025
Original Research Paper
Risk assessment in insurance
mona parastesh; ziaoddin beheshti; raad abbas
Articles in Press, Accepted Manuscript, Available Online from 11 March 2025
Original Research Paper
Future research in the insurance industry
mahdi gholamizare; Amir Mansour Tehranchian
Articles in Press, Accepted Manuscript, Available Online from 11 March 2025
Original Research Paper
Insurance Companies Accounting and International Financial Reporting Standards
Tooba Haghighat; Mahnaz Molanazari
Articles in Press, Accepted Manuscript, Available Online from 11 March 2025
Original Research Paper
Financial / Applied Mathematics
Asma Hamzeh; Mohammad Javad Nadjafi-Arani
Articles in Press, Accepted Manuscript, Available Online from 15 March 2025
Abstract
BACKGROUND AND OBJECTIVES: Insurance fraud is a common challenge in the industry, leading to significant losses both in terms of financial interests and public trust. Financial and monetary institutions are keenly seeking to accurately identify the activities of fraudsters and fraudsters. Due to its ...
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BACKGROUND AND OBJECTIVES: Insurance fraud is a common challenge in the industry, leading to significant losses both in terms of financial interests and public trust. Financial and monetary institutions are keenly seeking to accurately identify the activities of fraudsters and fraudsters. Due to its direct effect on serving the clients of institutions, this will lead to the reduction of operating costs, gaining the trust of other insurers, and maintaining and improving the market share of insurers as reliable financial service providers. One of the most prevalent forms of fraud occurs in auto insurance, where organized and opportunistic fraudulent activities are widespread. Intentional accidents, especially those involving groups, staged injuries, and orchestrated scenes, are among the common fraudulent practices in this domain.METHODS: One of the techniques used to detect fraud is network analysis. In the network analysis, the communication between people and different real and legal personalities are evaluated and new dimensions of these communication are identified. The objective of this paper is to introduce a mathematical model based on graph theory for identifying suspicious clusters associated with organized fraud. In our research, we first introduce a network called the “accident network” using graph theory. We demonstrate that this network exhibits characteristics of a random graph. Suspicious clusters within this network are then identified using an algorithm based on graph theory. Subsequently, we examine the occurrence probability of such clusters in a random accident network by defining a binomial distribution over its edges. FINDINGS: This process leads to assigning a label (indicating fraudulent or non-fraudulent) to each accident and individual. Considering the structure of the algorithm and its complexity, we can conclude that the proposed algorithm is simply capable of analyzing a lot of data.CONCLUSION: Investigating this topic enables insurers to tailor different policies based on the labels assigned to individuals or accidents, ultimately aiming to reduce financial losses and enhance public trust.
Original Research Paper
Corporate Governance in Insurance Companies
Yassaman Khalili; maryam sadeghi; abdolkhalegh khonaka; Abolfazl Momeni Yanesari
Articles in Press, Accepted Manuscript, Available Online from 15 April 2025
Abstract
BACKGROUND AND OBJECTIVES: Insurance companies, as one of the main pillars of the financial system, play a pivotal role in managing economic risks and providing financial security for individuals and legal entities. Given the increasing importance of social responsibility in this industry, this study ...
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BACKGROUND AND OBJECTIVES: Insurance companies, as one of the main pillars of the financial system, play a pivotal role in managing economic risks and providing financial security for individuals and legal entities. Given the increasing importance of social responsibility in this industry, this study examines the impact of the effectiveness of the audit committee and the internal audit performance quality on social responsibility reporting in Iranian insurance companies. METHODS: The research method is correlational in nature and content, and hypothesis testing based on multivariate regression was used. In terms of the type of purpose, it is an applied research and the research was conducted within the framework of inductive reasoning. The statistical population includes all insurance companies in Iran, and in order to achieve the research goal, the period between 1398 and 1402 was selected as a sample.FINDINGS: The results obtained from testing the research hypotheses indicate a significant and direct (positive) effect of audit committee effectiveness and internal audit performance quality on improving social responsibility reporting. Specifically, increasing audit committee effectiveness and improving internal audit quality lead to increased transparency, accuracy, and reliability of social responsibility reports. These results indicate that a strong corporate governance structure, especially through the effective performance of audit committees and internal audit units, can help improve social accountability and increase stakeholder trust.CONCLUSION: By providing new empirical evidence, this study contributes to the existing literature on social responsibility reporting and corporate governance in the insurance industry. The findings of this study can be used as a basis for policymakers, managers, and regulatory agencies to improve reporting processes and increase transparency in insurance companies.BACKGROUND AND OBJECTIVES: Insurance companies, as one of the main pillars of the financial system, play a pivotal role in managing economic risks and providing financial security for individuals and legal entities. Given the increasing importance of social responsibility in this industry, this study examines the impact of the effectiveness of the audit committee and the internal audit performance quality on social responsibility reporting in Iranian insurance companies. METHODS: The research method is correlational in nature and content, and hypothesis testing based on multivariate regression was used. In terms of the type of purpose, it is an applied research and the research was conducted within the framework of inductive reasoning. The statistical population includes all insurance companies in Iran, and in order to achieve the research goal, the period between 1398 and 1402 was selected as a sample.FINDINGS: The results obtained from testing the research hypotheses indicate a significant and direct (positive) effect of audit committee effectiveness and internal audit performance quality on improving social responsibility reporting. Specifically, increasing audit committee effectiveness and improving internal audit quality lead to increased transparency, accuracy, and reliability of social responsibility reports. These results indicate that a strong corporate governance structure, especially through the effective performance of audit committees and internal audit units, can help improve social accountability and increase stakeholder trust.CONCLUSION: By providing new empirical evidence, this study contributes to the existing literature on social responsibility reporting and corporate governance in the insurance industry. The findings of this study can be used as a basis for policymakers, managers, and regulatory agencies to improve reporting processes and increase transparency in insurance companies.
Original Research Paper
Insurance rights
Mohammad Taqi Rafiei; reihaneh nadjarzadeh
Articles in Press, Accepted Manuscript, Available Online from 16 April 2025
Abstract
BACKGROUND AND OBJECTIVES: In the realm of law, the intricate relationships between individuals and their ensuing obligations have always captivated legal scholars. Among these obligations, the "insured's duty to mitigate loss" stands out as one that has undergone significant transformation over time. ...
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BACKGROUND AND OBJECTIVES: In the realm of law, the intricate relationships between individuals and their ensuing obligations have always captivated legal scholars. Among these obligations, the "insured's duty to mitigate loss" stands out as one that has undergone significant transformation over time. Once a contractual and optional provision, confined to specific insurance sectors, this duty has evolved into an implicit and mandatory obligation across all branches of insurance.METHODS: This research adopts an analytical-descriptive approach to trace the evolution of this duty from its inception to the present day. The central question guiding this inquiry is: at what stage of development does this duty currently reside, and what ramifications does it hold for the relationship between insurer and insured?FINDINGS: To address this question, we begin by delving into the theoretical foundations and underlying rationale for this duty. Historically, this duty stemmed from the principle of good faith and the necessity for cooperation between the contracting parties. However, in contemporary times, economic and social considerations have also played a pivotal role in shaping this obligation. The escalating costs of insurance, the imperative to safeguard the financial resources of insurance companies, and the need to prevent potential abuse are among the factors contributing to the mandatory enforcement of this duty. Subsequently, we examine the evolution of this duty across various legal systems, including the Iranian legal system, accompanied by an analysis of the relevant laws and regulations. Within the Iranian legal framework, this duty is enshrined in Articles 11 and 12 of the Insurance Act of 1937, as well as in the general conditions of numerous insurance policies. Furthermore, we scrutinize the prevailing judicial practices concerning this duty, along with the rulings issued by competent judicial authorities, to provide a more comprehensive understanding of its multifaceted dimensions. An examination of judicial decisions reveals that courts have adopted an approach grounded in fairness and equity when interpreting and applying this duty. In instances where the insured has failed to mitigate loss without justifiable cause, courts have reduced or even extinguished the insurer's liability for compensation.CONCLUSION: Ultimately, by synthesizing the information gathered and analyzing the research findings, we arrive at the conclusion that the insured's duty to mitigate loss is now recognized as a fundamental pillar of insurance contracts and a prerequisite for the insured's entitlement to compensation. Failure to comply with this duty can lead to a reduction or even complete elimination of the insurer's responsibility to indemnify the insured.
Review Paper
Comparative studies in the field of insurance
mehdi molaei
Articles in Press, Accepted Manuscript, Available Online from 24 April 2025
Abstract
BACKGROUND AND OBJECTIVES: With the increasing frequency and severity of natural disasters such as earthquakes, floods, storms, and wildfires, the need for effective and efficient insurance coverage to compensate for damages to individuals and property is increasingly felt. In many countries, including ...
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BACKGROUND AND OBJECTIVES: With the increasing frequency and severity of natural disasters such as earthquakes, floods, storms, and wildfires, the need for effective and efficient insurance coverage to compensate for damages to individuals and property is increasingly felt. In many countries, including Iran, natural disaster insurance is recognized as a key tool for risk management and reducing the financial burden of such disasters. However, numerous challenges in the field of natural disaster coverage, including limitations of the insurer's responsibilities and obligations, weaknesses in insurance contracts, and others, can affect the efficiency of insurance systems. Therefore, the main objective of this study is to identify the responsibilities of insurers in fulfilling their obligations and paying damages resulting from natural disasters and the related challenges.METHODS: To analyze the responsibilities of insurers for damages caused by natural disasters, existing legal texts, including jurisprudential, legal books, and published domestic and foreign articles, were used. Accordingly, the method of this article was library-based, analytical, and descriptive. First, the jurisprudential and legal foundations and the responsibility of insurers for damages caused by natural disasters were examined, and then the provision of insurance services and the legal challenges faced by insurers in paying damages caused by natural disasters in various countries, including Iran, the United States, the United Kingdom, France, and some other countries, were analyzed.FINDINGS: Articles 19 to 22 of the Insurance Law stipulate that the insurer is obligated to compensate for damages incurred based on the terms specified in the contract. Despite Article 953 of the Civil Code and extensive efforts to expand insurance coverage, natural disasters still do not receive full compensation under the current insurance framework. In Iran, the burden of proof for the occurrence of an incident lies with the policyholder, which can prolong the damage payment process. In advanced countries like France and the United States, contract transparency and shifting the burden of proof to the insurer facilitate the damage payment process, and official government documents automatically verify these disasters, eliminating the need for independent proof by the policyholder. In these countries, laws are designed in favor of the policyholder, and insurer obligations include compulsory insurance for natural disasters. Additionally, support services in Iran are primarily under the supervision of the government, which faces financial and implementation challenges, and the natural disaster insurance fund collects low premiums. In contrast, in countries like the United States and Japan, commercial insurance is provided with strict government oversight and global standards, resulting in faster and more transparent payments.CONCLUSION: Iran's approach to natural disaster coverage differs significantly from developed countries such as the United States and France. In Iran, the government plays the main role in covering natural disasters, and the private sector has a smaller role. To improve the status of natural disaster coverage, reforming insurance laws, providing more support for insureds, clarifying obligations, and strengthening the role of the private sector are essential. Learning from the successful experiences of other countries can help improve processes and reduce existing problems in this area.
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