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IFRS 4 Insurance Contracts Phase II - Current Situation and Outlook
Ochman, Daniel ; Bokšová, Jiřina (advisor) ; Kolář, Jakub (referee)
This thesis deals with phase II of IFRS 4 Insurance contracts. The aim of the standard is to establish the principles that an entity should apply to report useful information to users of its financial statements about the nature, amount, timing and uncertainty of cash flows from insurance contracts, so that the financial statements of the entity are comparable with financial statements of other entities. Therefore IASB introduced building blocks measurement model, where an insurance contract is measured based on the present value of expected fulfillment cash flows, risk margin and contractual service margin. The building blocks model is based on making extensive judgments when measuring the insurance contracts. To explain the judgments, the standard requires the entity to disclose details about the judgments in the footnotes to the financial statements. The building blocks model is used mainly for life insurance contracts. For contracts that last one year or less (usually non-life insurance contracts) the standard allows the entities to use a simplified approach for measuring insurance contracts that is similar as the current practice of measuring non-life insurance contracts. Revenues from insurance contracts should depict the transfer of promised services arising from the insurance contract in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those services (this approach is in line with the prepared IFRS 15 Revenue from Contracts with Customers).
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The Legislation of clousing of insurance contracts and their termination
Šťastná, Vendula ; Gruber, Petr (advisor) ; Radová, Jarmila (referee)
My work is about problems with clousing of insurance contracts and their termination. The aim of my work is the orientation in this problem. Firstly, the work includes the historical development of the legislation of clousing of insurance contract. Secondly, the work exploines very important the insurance terms. Thirdly, there is explained the procedure of clousing of insurance contracts. Finally, the work includes some ways of termination of insurace contracts.
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Technical provisions in accounting of an insurance company
Vondráková, Ivana ; Bokšová, Jiřina (advisor) ; Tršková, Vladimíra (referee)
Technical provisions represent one of the most important item of liabilities in accounting of an insurance company. Technical provisions reperesent liabilities for clients of the insurance companies. The exact amount of these provisions is not known in advance. The main reason for generating technical provisions by insurance companies is to fulfill the liabilites arising from insurance and reinsurance contracts in the future. The first chapter of this thesis deals with the principle of the provisions in accounting in general. The next chapters deals with the provisions generated according to IFRS and the czech law. The most extensive chapter describes the technical provisions from the perspective of the czech law for insurance companies. The examples of the technical provisions are the integral part of the thesis.
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Consumer protection on financial markets
Safín, Michal ; Blahová, Naděžda (advisor)
This thesis focuses on the description of the main principles and instruments of the consumer protection concept on the financial market of the Czech Republic. It aims to justify the legitimacy, assess the efficiency of the concept and evaluate the extent to which consumer protection is provided. An extensive part of the text is devoted to a detailed specification of the legal term "consumer". Czech legal framework is the primary source for the text. Applied methods are interpretation of Czech legal standards and a description of specific selected instruments that are followed by general deductive implications. The conclusions of this paper are suggestions concerning the efficiency of certain instruments and the determination of a sphere, where consumer protection should be strengthened.
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Legal regulation of conclusion and termination of insurance contracts
Konupková, Jana ; Gruber, Petr (advisor)
The thesis deals with the legislation process of concluding insurance contracts and the subsequent termination of insurance. The work stems from the Insurance Contract Act and other legislation in the area of insurance. There are also mentioned some selected decisions of the Supreme Court of the Czech Republic. The aim of this thesis is to analyze the issue and also to assess the status of current legal regulation.
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The creation of insurance product and "life" insurance contract
Perník, Jakub ; Ducháčková, Eva (advisor) ; Daňhel, Jaroslav (referee)
The theme of this work is The creation of insurance product and "life" insurance contract. At work I deal with the insurance product structure and elements of insurance contracts for non-life insurance. I characterize the concept of insurance product and its structure. Next I will examine the activities of insurance related to their own insurance contract. I describe the passage of an insurance contract at the time of its inception, through its changes and recovery after the final cancellation of an insurance contract. At the conclusion I indicate the types, uses, and a tendency towards the use of collateral. Also, in the end I will give operational support for insurance contracts, ie. automated activities related to own negotation and creation of insurance contracts.
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Insurance of business risks from a content of insurance conditions point of view
Tůmová, Kateřina ; Ducháčková, Eva (advisor) ; Daňhel, Jaroslav (referee)
In this project I deal with insurance products determined for entrepreneurs and with exceptions, which are contained in insurance conditions for these insurance products. Then there is paid attention to problems about prevention possible damages, underinsurance and information, which are necessary for presentation to insurance for completion of contract. Finally, there are also given examples of complex insurance products and it is mentioned support of ethical attitude from insurance. In conclusion there are also attached model example of insurance portfolio of business and comparison insurance of export credit in two different territories from the risk profile.
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The insurance fraud issue in the Czech Republic
Svoboda, Lukáš ; Hejda, Jan (advisor) ; Bednář, Jan (referee)
The thesis is being concerned with one of the serious criminal acts causing each year damages worth hundrends of millions Czech crowns. The main aim of the thesis is to provide a complex view of the problems. The thesis analyses the issue from both legal and economic angle of view, deals with the insurance fraud typology and proves the theory by evidence of particular cases. The thesis thereinafter discovers causations of commiting insurance frauds and describes the insurence fraud abatment. In the end the thesis tries to disclose the weak points of the system of prevention, to point at them and to come up with the improvement suggestions and recommendations.
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