Insurance principle

Insurance principle

The law of averages. The average outcome for many independent trials of an experiment will approach the expected value of the experiment.
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In his view, however, the insurance principle is overstretched if benefits of emergency assistance are paid out indefinitely.
It should be stressed that the GSIS has long been implementing a premium-based policy, the essence of any insurance principle, which aims to sustain the actuarial solvency and financial
While in theory the benefit formula could be changed to eliminate the benefit increase, some may be reluctant to do so because they feel this would violate the insurance principle underlying the program.
Putting aside the obviously contentious and politically charged issue of funding, consider that regardless of whether a nation's care is funded through tax levies or from private sources, the tried and true insurance principle of spreading the risk is at play.
The program works on the insurance principle: If many people pay a small amount for a service they use only occasionally, the pooled funds can cover the full cost of the service for those who need it.
These schemes were established with the specific aim of counteracting socio-economic risks and the choice of the insurance principle reflected a pursuit occupational solidarity as the principal policy aim.
The insurance principle that characterizes such regimes makes it difficult both for those not yet in employment and the unemployed to access benefits.
Moreover, it is a step which undermines the insurance principle targeting state help only on the very poorest and offering no help to people who have tried to help themselves.
It's a basic insurance principle that the larger the pool, the easier it is to absorb the expense of the more costly members.
Moses: The social insurance principle sounds wonderful: "From each according to his abilities, to each according to his needs." The fundamental problem with that is that ability is limited.
Hadorn claims that to insist that the "preferences of disabled persons should govern the evaluation of health states and of outcomes used to set priorties...is at odds with...the 'insurance principle'" requiring before-the-fact assessments of the value of curative or compensatory measures.[8] To be sure, we render prior consent to risk useless in setting priorities if we insist that it be forthcoming from the point in time at which the risk has already come about; one only needs to know and understand what one might be getting oneself into.
Both proponents and opponents devoted energy to identifying the desirable "insurance principle," which then either accurately described or failed to describe the proposed legislation.(30) Like blind men describing an elephant, however, few agreed on a definition for the insurance principle.
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