Value of a Life: Compensation and Regulation of Asbestos and other Work Hazards
|
|
- Edith White
- 6 years ago
- Views:
Transcription
1 Value of a Life: Compensation and Regulation of Asbestos and other Work Hazards
2 Health and safety issues in the workplace are another setting where externalities can arise. Firms can invest in safety for their workers or they can produce at a lower cost. If they don t take the safety precautions that is an externality in production. See figure on the next slide:
3 Private vs Social Cost in Workplace Safety
4 What does a world with externalities look like?
5
6 The government might want to do something about this externality. It has a few options It can regulate industries to impose safety standards It can compensate individuals It can do a mixed strategy, i.e., some regulation and some compensation for persons effected by low safety standards
7 If a government chooses the compensation option then it needs to decide how to value a life or an injury. Unfortunately, these prices or values that are not directly observable in the market. Generally these are shadow values, although they are not observable they can be inferred from prices that are observable.
8 Some examples of government programs that provide compensation Social insurance programs that compensate workers for occupational accidents Social insurance programs that compensate the families of those killed while working Setting up special funds to compensate those exposed to hazardous substances while working, where symptoms of exposure are not seen until well into the future; e.g., Black Lung for coal miners, Asbestosis and Mesothelioma for workers exposed to asbestosis fibers
9 The primary focus of this lecture will be asbestos. What is Asbestos? Asbestos is a mineral that has been found to have very good properties as an insulator and resistance to fire. However, health risks have been also found for those exposed to asbestos fibres, which are very dangerous
10 Asbestosis Fibres on a Rock
11 Asbestosis Insulation on pipes
12 Health Risks of Asbestos fibres Abestosis fibres can be inhaled and create scar tissue in the lungs. The scar tissue makes it more difficult to breathe and eventually you can breathe. This disease is called Asbestosis Exposure to asbestosis fibres can also cause Mesothlelioma, a cancer of membrane around the lungs. There is no cure, it is 100% fatal.
13 A cost-benefit framework can be used to provide insights into these issues. Whether to regulate the use of asbestos and if so, how strict are the standard How to compensate persons for exposure to asbestos A few different approaches can be taken; we ll consider these alternative options as well as their advantages and disadvantages
14 Computing Benefits/Payments for Occupational Deaths There are a few different approaches that can be used to compute payments or compensation for an occupational (or other reason) death 1. Legal approach: Used in medical malpractice or wrongful death litigation Traditionally, an accounting exercise where a tribunal is required to determine liability and then determine each separate element of loss and assign a monetary value to each element
15 Can sometimes determine two components of loss Economic vs Non-Economic loss Payments are made in a lumps Economic losses are determined by figuring lost earnings capacity of an individual, which requires determining how much a person would ve earned and also how long they would ve worked
16 How much? If a person has an established job, relatively easy to determine; However, it is much more complicated if a person is still getting their education or there is a lot of uncertainty in their earnings (e.g., a self-employed person or someone who has a large variable component to their earnings, i.e., bonuses, profit sharing or commissions
17 How Long? How long would the worker work? When would they retire? Normal retirement age (65) versus early retirement age (60) or average retirement age (62.5) Since these computations are present values, there is also an issue about what the discount rate should be In Ontario, they legislate the discount rate.
18 Non-Economic Losses Involves compensation for loss in quality of life or pain and suffering Generally, courts in Canada award smaller awards for non-economic losses than U.S. courts 2. Workers Compensation A no-fault social insurance system for occupational injuries and diseases, which means you don t have to show negligence; pays fixed sums
19 Here are some examples for Ontario:
20 Lump Sum Awards, 2013 Age Compensation Less than 20 $114, $105, $95, $86, $76, $66, $57, $47, or older $38,268.54
21 Monthly awards, minimum compensation annual for spouse and child is $21,730.28, maximum is $83,200. Burial amounts, pay for the funeral costs; minimum payment is $2870, no maximum, but will only pay for reasonable expenses. Some differences across provinces in terms of the amounts they are willing to pay and how large the maximums might be (e.g., maximum payments in Newfoundland and Prince Edward are smaller than those in Ontario)
22 3. Statistical Value of a Life This is the economic appraoch Rests on the following assumption: If you work a more dangerous job, then you will want a higher wage to compensate you for the dangers of worker (called a compensating differential), as risk increases so do wages If you assume that wages fully compensate workers for the hazards of working then it is possible to use the differences in wages between a safe job and a risky job;
23 A shadow price for the value of a life, can be computed using the differences between the safe and risky job. Example Job #1, the safe job, risk level Job # 2, the risky job, risk level Job #1 and #2 are same in every other respect except that the risky job pays $50/week than the safe job
24 This implies that a worker in the risky job is willing to accept an extra fatality risk of for an extra $2,600 per year (52 weeks x $50 a week) Can extrapolate this figure
25 Extra fatality risk Extra salary required $2600 (1 x 2600) $5200 (2 x 2600) $7800 (3x 2600) 1.00 $2,600,00 (1000x 2600)
26 Simple calculation: Value of Life= Requirement in Extra Salary/Extra Fatality Risk Value of Life=$2600/0.001=$2,600,000 The statistical value of a life is a shadow value Generally, economists estimate the value of a life using regressions of wages on the probability of death as well as explanatory variables for worker and job characteristics
27 Estimates from the literature (in US dollars) range from a low end of $600,000 to $16.2 million; most estimates tend to be between $4 and $7 million with a median of about $4.9 million Generally, the more variation you have in the measure of risk, the bigger the estimate of the statistical value of a life
28 The Statistical Value of a Life tends to be much higher than the compensation provided by workers compensation insurance that was presented earlier. Why?
29 Workers compensation is a no fault insurance system, so there is no process for determining negligence on the part of the worker or employer, which means payments are (relatively) immediate. This sort of trade-off can explain why benefits are much lower than a statistical value of a life.
30 The alternative to the no-fault system is a system that proves neglience on the part of employers (i.e., a tort system) in a court of law; these sorts of settlements tend to be in line with a statistical value of a life. However, it very costly and time consuming to go court and there is also a chance the person suing their employer can end up with nothing. So the tradeoff is to get a smaller amount with certainty versus a much larger payment with a smaller probability.
31 Evaluating Regulations Protecting Workers from Absestos Exposure Abestosis exposure has some very serious health risks. Up until the late- 1960s was still widely used in industrial and residential settings despite some knowledge of health risks Industrial uses included using in brakes for cars and as insulators wrapping steam pipes Residential uses included mixing it with plaster and wrapping pipes used for heating and hot water
32 In the 1970s governments began to set more regulations on the use of asbestosis and the exposure limits for workers who handled asbestosis. We ll consider these regulations from a costbenefit framework Objective is to pick the optimal exposure level given the costs of reducing worker exposure and the harm that results from exposing workers to asbestosis
33 There are a few ways to measure the harm that results from exposure, but both amount to willingness-to-pay measures
34 With this measure, q t * is the probability of surviving from period 1 to period t r is the discount rate T is the maximum life span U t (x t ) is the utility of x t at time t EU T t 1 q * t 1 1 r t u t x (1) t
35 Can simplify this assuming that x and utility are constant over time This equation implies that any reduction in the probability of surviving until year t reduces expected utility EU EU u x T t 1 r t 1 q * t
36 Can use this framework to compare two policies on the regulation of workplace risks and hazards. The change in regulations should have an effect on the survival probability q t *; so if have two policies i and j with survival probabilities Policy i implies survival probability q ti * Policy j implies survival probability q tj *
37 u x T q * jt t 1 r 1 r T t 1 t 1 q * it t (2)
38 An alternative approach to valuing deaths is to replace the survival probability in equation (1) with the probability of dying in year t, where the probability of dying is denoted as m t * (note the q t *s will be large numbers closer to 1, but the m t *s will be smaller numbers closer to 0); this changes equation (2) which is now expressed as
39 u x T m * it t 1 r 1 r T t 1 t 1 m * jt t (3)
40 The m it * and m jt * represent the probability of dying in year under policy i and j Equations (2) and (3) are used to compute the cost of saving a life; these figures can then be compared with the value of statistical life which measures the benefit of saving a life. The principles of cost-benefit analysis tell us that a project/policy should proceed if the benefits exceed the costs
41 Do the Benefits of Absestos Regulation Exceed the Costs of Regulation? Estimates of equation (2) and (3) have been undertaken in the empirical literature to determine the costs of asbestos regulation. Consider the following examples: Dewees and Daniels (1986) found that reducing exposure levels to asbestos by 75% would produce an estimate of the (2) or (3) of about $35 million
42 In the U.S. the Occupational Health and Safety Agency (OHSA) implement much more stringent asbestos regulation in the 1970s, which were estimated to cost about $35.6 million In 1986 the OHSA ended up imposing much tougher regulations, these regulations were estimated to cost $114.8 million
43 If one where to take the $5 million estimate of the value of a statistical life, then the benefits of a life saved are much less than the costs of a life saved; moreover, the costs of a life saved exceed the benefits of a life saved even when the maximum estimate of the value of a statistical life (about $16 million) is used.
44 From an economic perspective it appears that the regulation is excessive, since the costs far exceed the benefits. And the regulations are not consistent with other rules/approaches for regulation in other branches of the U.S. government. For example, the U.S. Department of Transportion does not pursue safety measures if their cost is $3 million or more (this assumes that the value of a statistical value of a life is $3 million, which might be a little low).
45 The end result of the regulation is that asbestos is no longer really used since it is too expensive to produce anything with it since health and safety standards mean that a lot of care has to be used when producing anything with it. So ended up substituting away from asbestos and using other materials. If a cost benefit approach was used, instead of just picking standards, perhaps there still might have been an asbestos industry, although it would probably only have been used in a few products.
Guide to Choosing Personal Auto Injury Insurance
Guide to Choosing Personal Auto Injury Insurance 2018 basic auto insurance This guide provides information about personal auto injury insurance available to all Saskatchewan residents. Motorcycle owners
More informationThe Scope and Nature of Occupational Health and Safety
Element 1: Foundations in Health and Safety The Scope and Nature of Occupational Health and Safety The study of health and safety involves the study of many different subjects including the sciences (chemistry,
More informationHealth & Safety Policy HSP 06 Asbestos Management Version Status Date Title of Reviewer Purpose/Outcome
Health & Safety Policy HSP 06 Asbestos Management Version Status Date Title of Reviewer Purpose/Outcome 1.0 Draft 07.03.2016 David Maine 1 st Draft for consultation/review 1.1 Approved 22.12.2016 David
More informationYOUR GUIDE TO PENNSYLVANIA WORKERS COMPENSATION. We re YOUR Workers Compensation Lawyers
YOUR GUIDE TO PENNSYLVANIA WORKERS COMPENSATION We re YOUR Workers Compensation Lawyers Table of Contents A Message From Attorney Edgar Snyder 1 Eligibility for Workers Compensation 3 Types of Workers
More informationYOUR GUIDE TO PRE- SETTLEMENT ADVANCES
YOUR GUIDE TO PRE- SETTLEMENT ADVANCES What is a pre-settlement advance? If you have hired an attorney to bring a lawsuit, and if you need cash now, you may be able to obtain a pre-settlement advance on
More informationTRENDS & FRAUD IN COMPENSATION MANAGEMENT
TRENDS & FRAUD IN COMPENSATION MANAGEMENT PRESENTATION TO THE CLAIMS LEAKAGE AND FRAUD FORUM NOVEMBER 2012 Mr Paul Clarke Managing Director National Health Recovery Agents Pty LTD THE NHRA STORY AND STATISTIC'S
More informationInformation for Workers
Contact Information To help us respond to inquiries quickly and effectively, please include your name, firm name, phone number, email address and claim number when applicable. Head office 200-1881 Scarth
More informationPrice Theory Lecture 9: Choice Under Uncertainty
I. Probability and Expected Value Price Theory Lecture 9: Choice Under Uncertainty In all that we have done so far, we've assumed that choices are being made under conditions of certainty -- prices are
More informationHealth and Safety Procedure: Risk Assessment. 1. Introduction
Health and Safety Procedure: Risk Assessment 1. Introduction 1.1. The purpose of this Procedure is to set out the London School of Economics (hereafter the School or LSE) arrangements for undertaking risk
More informationindividual life product solutions
individual life product solutions 1 make the most of every hard-earned dollar. You work hard for your money. Now make it work just as hard for you. At Sanlam we can help you transform your money into something
More informationChapter 7 Topics in the Economics of Tort Liability
Chapter 7 Topics in the Economics of Tort Liability I. Extending the Economic Model A. Relaxing the core assumptions of the model developed in the previous chapter 1. Decision makers are rational In order
More informationRISK ASSESSMENTS (GENERAL) POLICY AND GUIDANCE
RISK ASSESSMENTS (GENERAL) POLICY AND GUIDANCE Revised June 2016: Version 1.2 Name of Policy: Purpose of the Policy: Policy Applies to: Approved by: Responsible for its Updating: Final Approval by: Risk
More informationSHEDDING LIGHT ON LIFE INSURANCE
SHEDDING LIGHT ON LIFE INSURANCE A practical guide LEARN MORE ABOUT Safeguarding your loved ones Protecting your future Ensuring your dreams live on Life s brighter under the sun About this guide We ve
More informationHow the world s best financial plans are made
How the world s best financial plans are made When you come to Planswell, you answer several questions and then see your plan. What you don t see are the millions of calculations we make in the background
More informationAccidents are the fourth leading cause of death in this country after heart disease, cancer, and strokes.
ACCIDENTS AND THEIR EFFECTS Accidents are the fourth leading cause of death in this country after heart disease, cancer, and strokes. There is a long history of debate on the effect of accidents on industry
More informationWorkers Compensation Guidebook
Workers Compensation Guidebook Western New York Council on Occupational Safety and Health This Guidebook is for informational purposes only, and does not constitute legal advice (or create an attorney-client
More informationWORKPLACE SAVINGS GUIDE
WORKPLACE SAVINGS GUIDE START HERE. We understand that pensions can be confusing and difficult to understand. That s why we ve created this guide, to explain to you how they work and why they re so important
More informationTRICKS OF THE TRADE HOW YOUR AUTO INSURANCE COMPANY DEVALUES YOUR INJURY CLAIM
THE CARLSON LAW FIRM TRICKS OF THE TRADE HOW YOUR AUTO INSURANCE COMPANY DEVALUES YOUR INJURY CLAIM 01 WHAT WE KNOW We hear it all the time, you don t need to hire an attorney after a car crash or I didn
More informationYour Guide to Tort Coverage
Your Guide to Tort Coverage Personal Auto Injury Insurance 2018 basic auto insurance How this guide can help you If you or a member of your family has been injured in an automobile collision, this guide
More informationONTARIO AUTOMOBILE CLAIMS PRIMER Rogers Partners LLP
1. INTRODUCTION ONTARIO AUTOMOBILE CLAIMS PRIMER Rogers Partners LLP When a car accident occurs in Ontario, an injured person may pursue two separate avenues of recovery: A tort action may be commenced
More informationAsia Pacific HSE Report
2012 Asia Pacific HSE Report Published by: Oil Gas Safety Council www.ogsc.org email:contact@ogsc.org Address: 10V Enterprise Road Singapore 627679 TABLE OF CONTENTS Message from the Chairman... 3 Introduction...
More informationRISK ASSESSMENT POLICY 2018
RISK ASSESSMENT POLICY 2018 INTRODUCTION A risk assessment is an important tool in protecting employees, parents, children and visitors by analysing hazards and identifying risk reduction measures. The
More informationLife and protection insurance explained
illness Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If you
More informationFINAL Exam: Economics 463, Labor Economics Fall 2003 in R. Butler s class YOUR NAME: Section I (60 points) Questions 1-20 (3 points each)
FINAL Exam: Economics 463, Labor Economics Fall 2003 in R. Butler s class YOUR NAME: Section I (60 points) Questions 1-20 (3 points each) Section II (20 points) Questions 21-24 (5 points each) Section
More informationRIGHTS OF RELATIVES TO DAMAGES (MESOTHELIOMA) (SCOTLAND) BILL
RIGHTS OF RELATIVES TO DAMAGES (MESOTHELIOMA) (SCOTLAND) BILL EXPLANATORY NOTES (AND OTHER ACCOMPANYING DOCUMENTS) CONTENTS 1. As required under Rule 9.3 of the Parliament s Standing Orders, the following
More informationPERSONAL INJURY CASES
Exceptional. Passionate. Trusted. PERSONAL INJURY ATTORNEYS THE BEGINNER S GUIDE TO PERSONAL INJURY CASES As personal injury lawyers, we ve seen many unique cases through the years. We ve found that an
More informationOptimal Taxation : (c) Optimal Income Taxation
Optimal Taxation : (c) Optimal Income Taxation Optimal income taxation is quite a different problem than optimal commodity taxation. In optimal commodity taxation the issue was which commodities to tax,
More informationHealth & Safety for Activities. Warning! Getting this wrong could cost YOU unbelievable amounts of money if you are sued for negligence
Health & Safety for Activities Warning! Getting this wrong could cost YOU unbelievable amounts of money if you are sued for negligence Why??? Think of three good reasons why getting your H&S in order is
More informationMistakes to Avoid If You Are in a Georgia Car Wreck
Mistakes to Avoid If You Are in a Georgia Car Wreck JAMES K. MURPHY Murphy Law Firm, LLC Georgia Accident & Injury Attorney 8302 Office Park Drive 2 Table of Contents: Preface: Who is Behind This Book,
More informationUnderstanding insurance Version 5.2
Understanding insurance Version 5.2 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. This document
More informationWhy choose Critical Illness+?
Retirement Investments Insurance Health Why choose Critical Illness+? Please note: This guide provides brief summaries of the cover and options available. For full details you must read the policy summary
More informationThe Environment, Health, and Safety. Chapter 13. McGraw-Hill/Irwin. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
The Environment, Health, and Safety Chapter 13 McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives 1. Use economic analysis to show how U.S. health
More informationThe Environment, Health, and Safety. Chapter 13. Learning Objectives
The Environment, Health, and Safety Chapter 13 McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives 1. Use economic analysis to show how U.S. health
More informationEstimating the Unpaid Cost of Coal Worker Pneumoconiosis Claims Filed Under the Federal Coal Mine Health and Safety Act
Estimating the Unpaid Cost of Coal Worker Pneumoconiosis Claims Filed Under the Federal Coal Mine Health and Safety Act Scott J. Lefkowitz, FCAS, MAAA, FCA Steven G. McKinnon, FCAS, MAAA, FCA Goals The
More informationNEGLIGENT SECURITY: WHAT YOU NEED TO KNOW ABOUT THEM
NEGLIGENT SECURITY: WHAT YOU NEED TO KNOW ABOUT THEM 1 The meeting ran longer than planned, and it is now nighttime. As you leave the building, you recall your car is parked off in a far one corner of
More informationRisk Management. At the Cambridge Science Festival. Occupational Health & Safety Service
Risk Management At the Cambridge Science Festival Occupational Health & Safety Service TIGER IMAGING Reasons for undertaking risk management Duty of care to provide a safe workplace for event staff, volunteers
More informationRights to Workers Compensation Benefits and How to Obtain Them. What Are The Benefits? Workers compensation benefits can include:
THE INJURED WORKER Rights to Benefits and How to Obtain Them What Is? If you get an injury or illness on the job, your employer is required by law to provide workers compensation benefits. You could get
More informationSILICOSIS WHATYOUNEDTOKNOWANDWHYYOUMAYBEENTITLEDTOCOMPENSATION. ByJohnJ.Page
AVERY SPECIALREPORT INCLUDINGBONUSCHECKLIST SILICOSIS ONEOFMANKIND SOLDEST OCCUPATIONALDISEASES ByJohnJ.Page ATTORNEYATLAW WHATYOUNEDTOKNOWANDWHYYOUMAYBEENTITLEDTOCOMPENSATION 12166OLDBIGBENDRD.STE100,KIRKWOOD,MISSOURI63122
More informationCOMPENSATION SYSTEM IN SRI LANKA
CHAPTER 4: COMPENSATION SYSTEM IN SRI LANKA The procedure involve in post accident process in Sri Lanka is filing action in magistrate court by the police if the accident is not settle between parties.
More informationLife and protection insurance explained
protection? illness Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind.
More informationINSURANCE CONCEPTS (191)
Page 1 of 6 INSURANCE CONCEPTS (191) OPEN EVENT REGIONAL 2014 DO NOT WRITE ON TEST BOOKLET TOTAL POINTS (500) Failure to adhere to any of the following rules will result in disqualification: 1. Contestant
More informationECONOMIC ANALYSIS OF SAFETY AND HYGIENE
Page 1 of 8 ECONOMIC ANALYSIS OF SAFETY AND HYGIENE 10.1 cost of accidents and diseases: The European Agency for Safety and Health at Work estimates that every year about 5,500 people are killed in the
More informationSubject: Response from the City of Brandon on the WCB Assessment Rate Model Review and Stakeholder Consultations
GREG BROWN, Occupational Safety and Health Coordinator Phone: (204)729-2293; Fax: (204)729-1904; Email: greg.brown@brandon.ca 410-9th Street, Brandon, Manitoba R7A 6A2 www.brandon.ca Date: June 30, 2014
More informationAuto Insurance. Good Drivers are Responsible Drivers. Why Auto Insurance?
Auto Insurance Good Drivers are Responsible Drivers. Auto insurance premiums are based on a large number of factors, some of which you can control, and some of which, alas, are incontrovertible facts of
More informationYour Guide to Life Insurance for Families
Your Guide to Life Insurance for Families (800) 827-9990 HealthMarkets.com Your Guide to Life Insurance for Families Contents Does My Family Need Life Insurance? 4 Types of Life Insurance for Families
More informationUnit 4.3: Uncertainty
Unit 4.: Uncertainty Michael Malcolm June 8, 20 Up until now, we have been considering consumer choice problems where the consumer chooses over outcomes that are known. However, many choices in economics
More informationTRUCKING ACCIDENT CASES
Exceptional. Passionate. Trusted. PERSONAL I N J U RY AT T O R N E Y S T H E B E G I N N E R S G U I D E TO TRUCKING ACCIDENT CASES As trucking accident lawyers, we ve seen many unique cases through the
More informationESTATE PLANNING FACT SHEET
What is a Will? ESTATE PLANNING FACT SHEET A Will is a written legal document which sets out your wishes following your death ranging from who is to receive your property and possessions to who is to look
More informationA Worker's Guide to Workers Compensation From The Law Office of Robert M. Keefe
Get What You Deserve A Worker's Guide to Workers Compensation From The Law Office of Robert M. Keefe Copyright Robert M. Keefe 2010 Pg. 1 General Information, Not Legal Advice Information contained in
More informationLecture 4. Introduction to the economics of tort law
Lecture 4. Introduction to the economics of tort law Lecture outline What are torts? The elements of an actionable tort Different liability rules Properties of different liability rules Errors Risk aversion
More informationMore Generous Insurance. Click on arrows to navigate the document. Click on ESC to exit the document
More Generous Insurance Click on arrows to navigate the document. Click on ESC to exit the document There are so many wise ways to protect what s yours when your banking is More Generous Tell us what you
More informationFatal incident: A guide to compensation
Fatal incident: A guide to compensation page 1 Contents Introduction 2 Who can bring a claim 3 When to instruct a solicitor 4 Bereavement award 5 Dependency claim 6 Probate 7 Funding 8 page 2 Introduction
More information2. How easily do you adapt when things go wrong financially? Nervous, I lose sleep Uneasy Somewhat easily With Confidence
Name Date 1. Compared to others, how do you rate your willingness to take financial risks? Extremely low risk taker Very low risk taker Low risk taker Average risk taker High risk taker Very high risk
More informationHEALTH & SAFETY NEWS. Issue 1 Date: 26 Jan 09 Page: 1 of 6. Overview
Page: 1 of 6 Overview As we begin a New Year it is good to review the significant safety events over the last 12 months and assess the impact on the safety culture within the UK. The introduction of the
More informationWhat you know about life insurance
What you need to know about life insurance MONICA HARRIS Efficient Estates 888-997-8667 ext. 101 info@efficientestatesannuityandinsurance.com This piece has been reproduced with the permission of Life
More informationPortfolio Investment
Portfolio Investment Robert A. Miller Tepper School of Business CMU 45-871 Lecture 5 Miller (Tepper School of Business CMU) Portfolio Investment 45-871 Lecture 5 1 / 22 Simplifying the framework for analysis
More informationYour Guide to Life Insurance for Seniors
Your Guide to Life Insurance for Seniors (800) 827-9990 HealthMarkets.com Your Guide to Life Insurance for Seniors Contents Do I Need Life Insurance at My Age? 4 Types of Life Insurance for Seniors 6 What
More informationHIGHLIGHTS. Introduction. Keeping ACC public, fair and transparent. New Zealand Labour Party Manifesto 2017
HIGHLIGHTS Maintain ACC as a publicly administered and delivered social insurance scheme which provides comprehensive and universal personal injury coverage for all New Zealanders Make the ACC system fairer
More informationV o l u m e I I C h a p t e r 5. Sections 10 and 11: Limitation of Actions, Elections, Subrogations and Certification to Court
V o l u m e I I C h a p t e r 5 Sections 10 and 11: Limitation of Actions, Elections, Subrogations and Certification to Court Contents Limitation of Actions Against Workers... 5 Exception to Limitation
More informationManaging Your Finances
Managing Your Finances A Personal Financial Security Review 2012 VSA, LP Valid only if used prior to January 1, 2013. The information, general principles and conclusions presented in this report are subject
More informationVOLUNTEERS & INSURANCE
VOLUNTEERS & INSURANCE I N F O R M A T I O N S H E E T Volunteers involved in your organisation may expose themselves to risks from time to time. Organisations or volunteers can be found legally liable
More informationUnderstanding Linked-Benefit and Chronic Care Riders And Their Role in Long-term Care Planning By Gene a. Pastula, CFP
Understanding Linked-Benefit and Chronic Care Riders And Their Role in Long-term Care Planning By Gene a. Pastula, CFP There is a growing discussion among long-term care professionals about the viability
More informationForThePeople.com Representing the People, Not the Powerful 1 Commerce Square, 26th Floor Memphis, TN (901)
Representing the People, Not the Powerful 1 Commerce Square, 26th Floor Memphis, TN 38103 (901) 333-1900 ForThePeople.com 877-667 - 4265 ATTORNEY ADVERTISING: Prior results do not gurantee or predict a
More informationFAQ s. Why should I hire Social Security Advocates for the Disabled? How can you help me if I don t live near your office?
800.825.7735 136 Long water Drive, Suite 100, Norwell, MA 02150 FAQ s Why should I hire Social Security Advocates for the Disabled? Hire us because we win, and we ve been winning since 1994. People that
More informationRISK and. Contractor Insurance
RISK and Contractor Insurance Who Am I and What Do I Do Why Am I Here Title of Presentation 3 Liability versus Workers Compensation An Example A worker is on a tower site. He works for a subcontractor
More informationYour Guide to Life Insurance When You re 50 or Older
Your Guide to Life Insurance When You re 50 or Older (800) 827-9990 HealthMarkets.com Your Guide to Life Insurance When You re 50 or Older Contents I Have Insurance Through My Employer. Why Buy Now? 4
More informationDISABILITY & ESTATE PLANNING
DISABILITY & ESTATE PLANNING In Association with Family Support Institute of BC March 7, 2017 Ken M. Kramer, Q.C. Principal & Senior Associate Counsel KMK LAW CORPORATION Barristers & Solicitors Park Place,
More informationKey Features of the WorkSave Pension Plan. This is an important document which you should keep in a safe place.
Key Features of the WorkSave Pension Plan This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains all the important information you need
More informationA History of Shaping Financial Success THE QUICK GUIDE TO FINANCIAL SUCCESS
A History of Shaping Financial Success THE QUICK GUIDE TO FINANCIAL SUCCESS Success is No Accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing.
More informationSurvivors. b e n e f i t s g u i d e
Survivors b e n e f i t s g u i d e About this guide This guide explains the WSIB s benefits and services for dependants of workers who have died as a result of a work-related disease or injury. In addition
More informationMANVILLE PERSONAL INJURY SETTLEMENT TRUST
MANVILLE PERSONAL INJURY SETTLEMENT TRUST 2002 TDP Proof of Claim Form Submit Completed Claims to: Claims Resolution Management Corporation 3120 Fairview Park Drive, Suite 200 Falls Church, VA 22042 (703)
More informationLesson 6: Insurance. Insurance and Risk
Lesson 6: Insurance risk: a chance of harm, loss, or damage liability insurance: insurance for what the policyholder is legally obligated to pay because of bodily injury or property damage caused by the
More informationObjectives. Why do People Sue? Understanding Medical Malpractice 3/2/2014. Discuss reasons why people sue
Understanding Medical Malpractice Debbie Sullivan, PhD, PA-C March 7, 2014 Objectives Discuss reasons why people sue Understand the 4 elements of medical malpractice Define standard of care Contrast claim
More informationBUYING YOUR FIRST HOME: THREE STEPS TO SUCCESSFUL MORTGAGE SHOPPING MORTGAGES
BUYING YOUR FIRST HOME: THREE STEPS TO SUCCESSFUL MORTGAGE SHOPPING MORTGAGES June 2015 Cat. No.: FC5-22/3-2015E-PDF ISBN: 978-0-660-02848-4 Her Majesty the Queen in Right of Canada (Financial Consumer
More informationWE RE HERE FOR YOU. Expert local personal injury advice. QualitySolicitors Bradbury Roberts & Raby
WE RE HERE FOR YOU Expert local personal injury advice QualitySolicitors Bradbury Roberts & Raby 2 A guide to help you We know that an injury can cause a wide range of problems, more than just coping with
More informationCoping with Death and Injury: Financial Considerations in a Time of Need
Coping with Death and Injury: Financial Considerations in a Time of Need FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY
More informationFOR THE COMMON GOOD: 222 RECOMMENDATIONS ROYAL COMMISSION REPORTS ON WORKERS COMPENSATION SYSTEM
FOR THE COMMON GOOD: 222 RECOMMENDATIONS ROYAL COMMISSION REPORTS ON WORKERS COMPENSATION SYSTEM Vancouver, B.C. (Jan. 20/99): While British Columbia s workers compensation system deserves praise for its
More informationMESOTHELIOMA PSLA AWARDS BC LEGAL B R I N G I N G C L A R I T Y. A REVIEW OF MESOTHELIOMA QUANTUM AWARDS TO MAY 2017 Fourth Edition.
MESOTHELIOMA PSLA AWARDS A REVIEW OF MESOTHELIOMA QUANTUM AWARDS TO MAY 2017 Fourth Edition BC BC LEGAL B R I N G I N G C L A R I T Y Page 1 1. 2. 3. Introduction The Judicial College Guidelines Actual
More information5. As a matter of social justice any rationalisation of tribunals, and consequent changes should be based upon the following principles:
The Australian Manufacturing Workers Union is deeply concerned at the effect consolidating NSW s range of tribunals could have on victims of work-related asbestos disease. AMWU is asking the Government
More informationKey Features of the WorkSave Pension Plan. This is an important document which you should keep in a safe place.
Key Features of the WorkSave Pension Plan This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains all the important information you need
More informationACCIDENT INVESTIGATION
1604 ACCIDENT INVESTIGATION Leader s Guide Marcom Group Ltd. Structure and Organization Information in this program is presented in a definite order so that employees will see the relationships between
More informationRisk Assessment Policy
Risk Assessment Policy To be accepted if agreed December 2016 Review Date December 2018 Overview This policy is designed to assist the school in fulfilling their legal duties in assessing risks. Risk management
More informationLife insurance. Serious and critical illness insurance
protection? Life illness Life and protection explained A guide to personal and family protection his guide explains the types of life and p rotection available and how t hey can offer you valuable peace
More informationBasic Risk Management Guidelines for Motor Sports Clubs
Basic Risk Management Guidelines for Motor Sports Clubs Prepared by Risk Group Pty Ltd for Motor Sports NT Risk Group Pty Ltd ACN 090 929 418 Unit 5, 48 Nelson Street, St Kilda Victoria 3182 Australia
More informationEstate Planning & Administration
Estate Planning & Administration Introduction If you ve been putting off creating an estate plan, then you re missing out on a chance to get some peace of mind. Many of our clients tell us that they feel
More informationGUIDE TO RETIREMENT PLANNING MAKING THE MOST OF THE NEW PENSION RULES TO ENJOY FREEDOM AND CHOICE IN YOUR RETIREMENT
GUIDE TO RETIREMENT PLANNING MAKING THE MOST OF THE NEW PENSION RULES TO ENJOY FREEDOM AND CHOICE IN YOUR RETIREMENT FINANCIAL GUIDE Green Financial Advice is authorised and regulated by the Financial
More informationUNCERTAINTY AND INFORMATION
UNCERTAINTY AND INFORMATION M. En C. Eduardo Bustos Farías 1 Objectives After studying this chapter, you will be able to: Explain how people make decisions when they are uncertain about the consequences
More informationT H Agriculture & Nutrition, L.L.C. Asbestos Personal Injury Trust Claim Form
T H Agriculture & Nutrition, L.L.C. Asbestos Personal Injury Trust Claim Form General Instructions for filing this Claim Form: This claim form must be completed as thoroughly as possible to ensure prompt
More informationBASICS * Irrevocable Life Insurance Trusts
KAREN S. GERSTNER & ASSOCIATES, P.C. 5615 Kirby Drive, Suite 306 Houston, Texas 77005-2448 Telephone (713) 520-5205 Fax (713) 520-5235 www.gerstnerlaw.com BASICS * Irrevocable Life Insurance Trusts Synopsis
More informationYour Final Gift: A Guide to End-of-Life Planning
Your Final Gift: A Guide to End-of-Life Planning 1 Table of Contents Creating Advance Directives 3 Funeral Arrangements 4 Beneficiary Designations 5 Accessing Financial Accounts 6 Managing Debt and Other
More informationDevelopments. Dust Diseases
November 2017 Dust Diseases Developments Dust Diseases Developments brings you the latest happenings in Australian asbestos and dust diseases compensation. You may have seen it before as Asbestos News.
More information17. Insurance. What is insurance? What protection does my Club have?
17. Insurance What is insurance? Insurance is something you buy to protect against financial loss. By paying an ongoing fee ( premium ) to another party ( Insurer ) you agree that should a particular risk
More informationYarway Asbestos PI Trust
Yarway Asbestos PI Trust Claim Form for Unliquidated Asbestos Personal Injury Claims *** For Direct Claims only *** General Instructions for Filing this Claim Form: This Claim Form should be completed
More informationInsurance LIFE INSURANCE DISABILITY INSURANCE LONG-TERM CARE INSURANCE
PLANNING What You Should Know About... Insurance LIFE INSURANCE DISABILITY INSURANCE LONG-TERM CARE INSURANCE YourMoneyCounts Like most people, you probably don t live your life expecting the worst to
More informationGuide to Ohio Car Accident Law INJURY-0
Guide to Ohio Car Accident Law Contents 3. 4. 5. 6. Meet The Sawan & Sawan Family Legal Disclaimer Introduction First Steps 7. The Accident Report 8. Insurance Coverage 9. Collecting Evidence 10. Dealing
More informationWE RE HERE FOR YOU. Expert local personal injury advice. QualitySolicitors Smith Roddam
WE RE HERE FOR YOU Expert local personal injury advice. QualitySolicitors Smith Roddam 2 A guide to help you We know that an injury can cause a wide range of problems, more than just coping with your pain
More informationCombustion Engineering 524(g) Asbestos PI Trust Claim Form
Combustion Engineering 524(g) Asbestos PI Trust Claim Form General Instructions for filing this Claim Form: This claim form must be completed as thoroughly as possible to ensure prompt resolution of claims;
More informationDEBTS AND DISPUTES. Understanding Debt. What to do?
DEBTS AND DISPUTES If you ve ever been owed money, you know it s a frustrating situation to be in. Even when it s a small sum, debts not only leave a bad taste, but they can really affect your financial
More informationLOAN INSURANCE YOU GET MORE SUPPORT WHEN YOU NEED IT
LOAN INSURANCE YOU GET MORE SUPPORT WHEN YOU NEED IT YOU CAN COUNT ON LOAN INSURANCE! How would you meet your financial obligations if you weren t able to work because of an accident or illness? How would
More informationA Layman's Guide To ICBC Part 7 Benefits
A Layman's Guide To ICBC Part 7 Benefits Prepared for MADD Revised March 2018 This guide was initially prepared in February, 2005 at the request of MADD to provide a layman's guide to ICBC no-fault/part
More information