Jane Austen s Pride And Prejudice - 1048 Words

In the complex system of marine life many species coexist in a beautiful yet perilous world under the ocean surface. While fish generally in general fish tend to swim mindlessly throughouth the water, and sharks are known for spreading terror through the seas, dolphins particularly stand out as thoughtful and caring. Many stories are told about the benevolent actions of these magnificent creatures. Within dolphin pods, every dolphin cares for one another and will even defend their friends and family against predators. The society we live in is not that different from life under the sea. Although there is no food chain in place, there will always be fish who thoughtlessly wander about, and sharks who constantly demand for what they want.†¦show more content†¦Elizabeth interrupts him, You are too hasty, sir, she cries. I am very sensible of the honour of your proposals, but it is impossible for me to do otherwise than to decline them (105). Despite Mr. Collins’ circumst ance and position to inherit the family household, Elizabeth does not hesitate to reveal her true feelings on the subject. Furthermore, Elizabeth rejects Darcy’s first proposal as well. Similar to Mr. Collins, Darcy is not very courteous in his proposal. Instead of embracing his love for Elizabeth, Darcy suppresses it and begins to talk about other details, such as his social status and income. Elizabeth swiftly rejects him by answering, â€Å"You could not have made the offer of your hand in any possible way that would have tempted me to accept it† (188). She recollects events in which Darcy did not behave in the most gentlemanlike manner. Although some of these accusations were proven to be unjustified, Darcy himself agrees that â€Å"[his] behaviour to [Elizabeth] at the time had merited the severest reproof† (249). Elizabeth does not marry for the sake or wealth or glory, but rather to someone who can give her happiness and love. Above all, Elizabeth even go es up against Lady Catherine de Bourgh herself. Towards the end of the story Elizabeth and Darcy begin to fall in love with each other, but Lady Catherine decides

History And Impact Of Drug Treatment Courts - 1471 Words

The History and Impact of Drug Treatment Courts Tincen Vithayathil University of Baltimore The History and Impact of Drug Courts Between 1990 and 1999, individuals who were convicted of a drug crime rose past 100,000, which accounted for 20 percent of our nation’s increased prison population (Lurigio, 2008). Between 1995 and 2003, the number of drug-related offenders constituted the largest increase of criminals in our nation’s prison population (Lurigio, 2008). In 2004, approximately 50 percent of state prisoners were known to be substance abusers or have drug dependency (King Pasquarella, 2009). During these years, drug offenders were crowding dockets, prisons, and nearly the entire criminal justice system (Lurigio, 2008). Due to the expensive cost of handling such cases and the difficulty of changing the habits of drug abusers, community based programs were introduced to slow the drastic increase of drug-related incarcerations (Lurigio, 2008). According to the Office of National Drug Control Policy, Americans owed nearly 32 billion dollars toward criminal justice expenses, 31 billion dollars toward lost productivity, and three billion towards property damage in 1998 (King Pasquarella, 2009). These chain of events built the foundation for Drug Treatment Courts (DTC) here in the United States. The origin of the first-ever drug court was located in the 11th Judicial Circuit in Miami-Dade County, Florida in 1989 (King Pasquarella, 2009). DTC programs maintainShow MoreRelatedQuasi-Experimental Group Design To Compare Recidivism Rates Of Opioid Offenders?892 Words   |  4 Pagesoffenders in drug courts compared to offenders on probation. Since, random assignment to control and experimental groups are not feasible, the two groups will be matched on various demographic characteristics as well as the current choice of drug. The data will be collected on all participants that have entered the Brooklyn Treatment Court, NY (BTC) in the second judicial district, and a comparison group of offenders on traditional probation. Sample The BTC offers substance abuse treatment for nonviolentRead MoreThe Social Science Perspectives Of Sociologists And Social Marketers1429 Words   |  6 Pagescriminologists and social marketers share both connections and disparities when it comes to the use of drugs and alcohol. This report emphasises the different disciplinary approaches used by both these social science perspectives when it comes to alcohol and drugs. A criminologists perspective explores the use of drug courts to divert illicit drug users from prison into treatment programs for their drug addictions along with the revaluation of the 25a crimes act ‘Assault causing death’ due to the 2012Read MoreProbation And Parole1305 Words   |  6 PagesThe history of probation and parole influences the decisions that are made in the Adult Court System toward the supervision of adult offenders by considering community corrections and involve supervision in the community. In the criminal justice system, there are many individuals locked up in local, state, and federal institutions. John Augustus probation bears much resemblance to probation as it is practiced today. He took great care in deciding which prisoners were promising candidates for probationRead MoreThe Criminal Justice System Has Served As A Focal Point Of Much Of Societal Racism993 Words   |  4 Pagesthe criminal leasing system, extra-judicial lynchings, and police brutality have shaped the history of African Americans and the criminal justice system. Over the last thirty years, there has been significant change has occurred in some aspects of the system. In many jurisdictions minorities have moved into positions of leadership within law enforcement, the courts, and corrections systems. Supreme Court decisions have placed restrictions on such practices as prosecutorial bias in jury selectionRead MoreCriminal Behavior And The Justice System Essay1361 Words   |  6 Pagesspecialty courts that are designed to better address t hese particular causes of criminal behavior. The goal of these courts is to better address the individual’s reason that they engaged in criminal behavior in hopes that with the additional support, in the future the individual will become a productive member of society. What are specialty Courts? Specialty courts are becoming more and more popular throughout the country. Specialty courts are also commonly referred to as problem-solving courts. TheseRead MoreMass Incarceration And Its Effects On Families, Communities, And Society1400 Words   |  6 PagesHowever, the United States has paved the way to create a cycle of endless incarceration for many people but especially for those of color. Such as the 1994 Violent Crime Control Act and the lack of substance abuse treatment in prisons. Overwhelmingly, mass incarceration has had a great impact on families, communities and society as a whole. As illuminated through the parable by inmate Joe Martinez, this continued cycling of inmates in and out of prison is devastating to the growth society. At theRead MoreSubstance Abuse Within Correctional Setting978 Words   |  4 Pagescriminal offenders who were evaluated to determine their personalities to which they have a long history with. Approximately well over a century ago, Mà ¼nsterberg, 1908, Vaccaro Hogan, 2004 who are all psychologists has managed a improved study on criminal offenders that will allow us all to have an ambiguous understanding of how the process of his research in reference to the criminal offenders testimony in court cases. In the 20th century the personality assessment was established, which was generallyRead MorePublic Health Issues Are Concerns On How To Protect The1749 Words   |  7 Pages Public health issues are concerns on how to protect the health of the people in society. Public health communities focus more attention on the victim who has health issues related to drug addictions, alcohol, and mental and physical problems. Public health issues are more concerned with the health consequenc es related to these addictions, abuse, and problems. Public health issues are focused on the type of care that is necessary to restore the victim to their healthy condition. Public health alsoRead MoreWomen are being incarcerated in today’s prisons at an alarming rate. Unfortunately, disparities in1600 Words   |  7 Pagesprisons at an alarming rate. Unfortunately, disparities in policies, women’s programs, and treatment options in the criminal justice system are virtually non-existent which are causing major problems with overcrowding, health issues, and drug abuse problems. It is no secret that the number one reason women are being incarcerated is due to a large rate in drug charge policies. The war on drugs has had a major impact on the lives of women in the criminal justice system. This policy has punished women disproportionatelyRead MoreTo What Extent Does Criminal Law Reflect the Moral and Ethical Standards of Society?1682 Words   |  7 Pagesoccurred, bringing an issue which had remained dormant for decades to the public’s attention: gun control laws. None of the massacres preceding Port Arthur had sufficient impact to shock the public, and therefore government into true, effective reform. However the Port Arthur Massacre remains Australia’s deadliest mass killing in history, and was unprecedented in the modern developed world; not even the United States has experienced a massacre of such magnitude. Accordingly it triggered widespread public

Comparison of Troy Maxson and Willy Loman free essay sample

When one achieves wealth and happiness, they’re considered successful. In Death of a Salesman by Arthur Miller and Fences by August Wilson, both protagonists Willy Loman and Troy Maxson go through many trials and tribulations trying to achieve this wealth and happiness through the American Dream. These trials and tribulations not only allow the reader to identify the characters’ hubris, but also their bitter, inconsiderate personalities. Furthermore, it was not America holding these characters back from reaching the dream, but rather their own bad choices. Their misfortune turns them into bitter people, undeserving of the reader’s sympathy. At first glance, both Willy Loman and Troy Maxson live such unpleasant lives that would seem almost impossible not to feel sympathetic towards them. They’re both middle-aged family men fighting to better themselves and their families. However, in the lives of both men, pride, insatiable wants, and jealousy lead to their downfall. We will write a custom essay sample on Comparison of Troy Maxson and Willy Loman or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page After careful examination, it becomes clear why they’re undeserving of the reader’s sympathy. In Death of A Salesman, we’re immediately introduced to Willy Loman, an old salesman who after twenty-odd years on the job admits being burned out. Returning home from his latest trip to Boston, Willy tells his wife Linda that he can’t make any more trips because he’s â€Å"tired to death† (Miller 13). Linda responds with, you’re sixty years old. They can’t expect you to keep traveling every week,† and we see that Willy is an overworked, underpaid, salesman struggling to provide for his family (Miller 14). However, it’s not long before we see what caused Willy to reach this state. Throughout the novel, Willy had a warped view of how to be successful in society. This is illustrated in a flashback where Willy talks about his sons’ friend Bernard; â€Å"Bernard can get the best marks in school, yunderstand, but when he gets out in the business world, yunderstand, you are going to be five times ahead of him†¦Be liked and you will never want† (Miller 33). We later see that the phrase â€Å"be liked and you will never want† serves as a mantra for Willy and ultimately causes his current social status. Willy cared so much about what other people thought of him that nothing else was important, including his ability to sell his products. This mindset dug Willy a hole so deep that it became nearly impossible to get himself out. Within time, Willy is fired and hope is gone. Most people would sympathize with Willy at this point but we can’t overlook the fact that Willy was given multiple opportunities to become better off. His neighbor Charley offered him a job on multiple occasions, one of which directly following Willy’s being fired. Charley says, â€Å"I offered you a job. You can make fifty dollars a week. And I won’t send you on the road† (Miller 96). Though Willy knows he’s a burned out old who can’t travel anymore, he lets his pride stand in the way of creating a better life for himself and his family. Willy was chasing the American Dream and had he took advantage of the opportunities given to him, it would have become more than a dream. Willy made bad decisions. We can’t sympathize with him because the only person responsible for the outcome of those decisions is Willy. In Fences we’re introduced to a character similar to Willy Loman by the name of Troy Maxson. Now fifty-three, Troy often reminisced on his denied chance to make it big in major-league baseball, based solely on the color of his skin. Of course, this type of prejudice would cause the reader to feel sympathize with Troy. Despite being shot down in his prime, Troy still manages to make a successful living as a garbage man and makes a more than reasonable living for someone of his race during the time period. However, not so much is it Troy’s behavior towards himself but rather how his persona affects his family that cause the reader to loose sympathy for him. Troy’s wife Rose is devoted, loving, and takes pride in taking care of their entire family. However, Troy decides his life is too dull, dull enough for him to have an affair. Following his admittance of his affair and fathering another woman’s child, Troy tries to explain with this: â€Å"†¦I fooled them Rose. I bunted. When I found you and Cory and a halfway decent job†¦ I was safe†¦. Then I saw that gal†¦. And then I got to thinking that if I tried I just might be able to steal second†¦ (Wilson 70). † This explanation ultimately shows the reader that no matter how good his life may be, Troy will never be happy with what he has. While it’s a natural tendency for people to want more, it’s hard to feel bad for someone who already has everything they need. Another deciding factor is Troy’s self-centeredness. While he says numerous times that he wants nothing more than to better himself, he denies his son Cory that very opportunity. Cory has the skills and a scholarship opportunity to play college football. Troy however, refuses to let him play, saying, â€Å" The white man ain’t gonna let you get no where with that football noway. You go on and get your book-learning so you can work yourself up in that AP or learn how to fix cars or build houses or something, get you a trade† (Wilson 35). Troy takes this opportunity from Cory on the grounds that because he himself was not able to make it big, he believes his son shouldn’t either. Furthermore, Rose points out that to Troy that â€Å"Times have changed since [he] was young†¦Ã¢â‚¬  and that â€Å"People change†¦. and [Troy] can’t even see it† (Wilson 40). Not only does he ignore that the times have changed since he was young, the reader could infer that jealousy plays a role too. These behaviors that Troy overtly displays, and no attempts to change them, cause the reader to loose all sympathy for Troy. Neither Willy Loman nor Troy Maxson ever achieved what they planned to in their lives. The American Dream became the shattered glass of the window of opportunity they originally possessed. Neither became the men they wanted to be, however if the two would’ve put their pride aside to better their families, not only would their lives have been less misfortunate, but they would have obtained stronger sympathy from the reader. However, lessons can be learned from both of their lives; cherish what you have and don’t let your pride take over.

Life Insurance Risk and Pricing Components

Question: Discuss about theLife Insurance Risk and Pricing Components. Answer: Introduction This report gives a brief about an insurer or a re-insurer or a division of either. For this a particular division or a business class of an insurer has been taken that is currently underwritten. For that case, an analysis has been done on the risk exposures and pricing components related to that insurer or his/ her division. It is quite evident that insurance is one of the important sectors of business in todays volatile environment. In economic terms, an insurance policy refers to a contract between two parties- insured (policyholder) and insurer (insurance company). Policies may differ on the basis of the type of risk involved like insureds life, health, property, commercial, etc. Just like any other business, insurance business is also controlled by a regulating authority like Insurance Authority (IA) in UAE. In context of business, insurance policies are of critical significance due to various risks faced by them (Ć urak et al., 2009). The most important factors related to insurance policy are the cost of insurance and the risks involved. The cost of insurance is nothing but premium paid by the insured which is determined according to his risk profile. The risk is that component of insured for which he/ she needs protection. Being an insurer, he/ she have to face a pool of such risks. To be an owner of a profitable insurance business, he needs to hold a firm grip on these two components (Grossi, 2005). To undertake this research and analyse these factors of insurance, I have chosen facets of life insurance, in general. Before I start with the details of these facets, I would like to brief the concept of underwriting business in insurance sector with some insights of an insurers role and a re- insurers role. Insurer and Re-Insurer- A Brief Insurer Insurer is referred to as an entity who promises to reimburse pre- set losses or damages if they occur due to specified risks. This entity enters into a contractual agreement with counterparty (known as insured or policyholder) to indemnify his contingent liabilities by subrogating the insureds position. Generally, an insurer is an insurance company certified under the regulatory body of the country it is operating. Many a times, this insurer is also known as underwriter. An insurer has to perform several functions for its clients as well as for society. Reason being a robust sector of insurance in an economy is a barometer for development and modernisation. One of the core functions of an insurer is to facilitate risk management advices by providing superior insurance products and timely reimbursement of claims. As an insurer, they act as a pool of risk and large amount of funds. Hence, they are in a position to assist business people and even society to recover from losses. They also act as one of the largest employers and institutional investors in a country. Not only themselves, they have also encouraged business associates to invest in large volumes without caring about risk of loss. This accelerates an economys growth (Starc, 2014). Re- insurer The insurer or an insurance company which is discussed above is said to be a primary insurer. Such an insurer has to face unlimited risk. Hence, many times primary insurer also takes insurance from another insurance company to shift a part of its risk in return of premium. This other insurer is known as re- insurer. The process of taking re- insurance is also known as cession. The way to distinguish between an insurer and a re- insurer is that re- insurers generally have Re word after their names. Re-insurance helps in giving protection against natural disasters since primary insurer will not be able to reimburse such a large amount of claims alone. By shifting a part of their risk to re- insurer, they are able to benefit the entire society. The role of a re- insurer can be broadly classified under five heads, brief of which is given below. Facultative re- insurance: When primary insurance is large enough that it cannot be borne by a single insurer, then it requires re- insurance. Treaty re- insurance: a re- insurance taken for a basket full of similar risk. Proportional re- insurance: A proportion of premium and risk is pre- determined to be shared by primary insurer and re- insurer. Non- proportional re- insurance: The level of risk mitigated by the re- insurer depends on the size of loss incurred. Retrocession re- insurance: It is a situation when a re- insurer takes re- insurance from other. (Swartz, 2003) Underwriting- the concept Underwriting an insurance business simply means to undertake a business of insurance by critical evaluation of risk components. An insurer employs some officials or a team of them to gauge the intensity of risks associated with the clients on boarding or potential clients. Underwriters are responsible to calculate the risk associated with the insured and probability of claims that can occur in future. They carry out a detailed analysis to ascertain such factors and advise clients as to the coverage they need to optimally mitigate their risk. They also assist insurers to determine the cost of insurance policy or what should be charged from the insured in return of the protection given. They also advise whether to accept a particular risk or not. His main role is to safeguard insurers interests from taking too much risk. They hold a crucial importance in the application process of a policy. They divide all the clients of a company into various classes depending on their risk. They also have the responsibility to check frauds and misrepresentation on the part of clients. Hence, they give a critical component of pricing of policies (Murtaugh et al., 1995). Rationale of Life Insurance Business Life Insurance- Underwriting Features of the client Underwriters comments Advanced cancers, serious heart issues, diabetes and other chronic illness Table 16/P (400% surcharge) Table 9/I (225% surcharge) Multiple illness with high considerations Table 8/H (200% surcharge) Table 7/G (175% surcharge) Epilepsy, recent cancer- like serious disease that is resolved Table 6/F (150% surcharge) Table 5/E (125% surcharge) Highly overweight, hazardous health habits, diabetes, serious heart disease Table 4/D (100% surcharge) Table 3/C (75% surcharge) Overweight, cancer like serious disease that has been recently resolved, other chronic illness of family or client Table 2/B (50% surcharge) Table 1/A (25% surcharge) Little inferences on clients prior illness, family history- presence of chronic diseases, depression, anxiety, etc. are also present Standard (average premium) Obesity at a very mild stage, medical history of family says about possibility of death due to illness Standard plus (standard rates of premium are charged) Little inferences on familys medical history, general medicinal consumption for blood pressure, cholesterol, etc. Preferred (low premium) Appropriate weight, appropriate height, clients history of any ailment- Nil, familys history of chronic diseases- Nil Preferred plus (better than average risk, lower premiums are charged from this group) (Otlowski et al., 2007) Product Range Offered By a Life Insurer Although life insurance products are mainly concerned with giving protection against the life of an insured, but today, many other policies are also provided by life insurers. Annuities insurance Annuity insurance helps people to plan for their retirement. In such policies, insured or the policyholder has to pay some amount to insurer, may be in lump sum or may be in instalments, as desired by the insured. Interest is given on such payments. After stipulated period of time, insured will get regular income or a lump sum payment from these funds. Automobile insurance It is also known as auto insurance. If an automobile or a vehicle meets with an accident, then an auto insurer reimburses the losses to the owner under such a policy. Automobile owners pay an annual premium to insurer to avail such benefit where he/ she can get most of the losses recovered like damage to vehicle, etc. Flood insurance Such insurance gives protection against natural disasters. Often, cession is involved in such cases since the amount and number of claims will be large if contingent event occurs. Hence, these insurers give protection to the property owners against natural calamities like flood. Health insurance As the name suggests, health insurance gives protection on insureds health. It mitigates the expenses incurred in medical and surgical areas if any health issues are detected in the insured. Either they pay directly to care provider or they reimburse expenses to the insured. It is generally used in employee benefit packages. Typical life insurance Life insurance protects financial losses of the family of insured that may occur due to his accidental death. Beneficiary of the insured is entitled to all the claims. Hence, this insurer helps in safeguarding the adverse impact of premature death of the insured. However, the insured has to pay regular insurance premium. Travel insurance This insurance covers the contingent or uncertain expense related to a trip or while travelling. Such expenses may include expenses incurred due to trip cancellation, lost baggage, accidents or any other mis- happenings. They provide protection for international trips and as well as for in- border trips. Workmens compensation insurance Generally employers use such insurance as an employee benefit scheme to attract best talent pool in their organizations. During the job, if an employee meets with an accident or incurs any other type of expenses which are not certain, then they are payable by the employer. And, employer will get these expense reimbursed under this insurance (Gerber, 1997). Risk Components of Life Insurance Business If we talk about risk components of a life insurance business, we come to know that underwriters owe a major responsibility to evaluate all the factors that may pose a risk to insurance business. Being a protection seller, life insurer is exposed to unlimited risk which has been transferred by the insured. Not only that, like any other business enterprise, life insurance is also exposed to market risk and credit risk (Kawatkar Basu, 2013). The International Actuarial Association has embarked 5 major risks associated with life insurance division. They are liquidity risk, operational risk, market risk, credit risk and underwriting risk. Few of them are discussed below. Underwriting risk We have already discussed underwriting in detail. When an insurance company on- boards a client, i.e. an insurer enters into a contract with a policyholder, they carry a detailed research on the risk profile of the customer. This is what we call as underwriting. During this process, underwriters may make a mistake in analysis. It may also happen that a client misrepresents some facts and go undetected. These mistakes may lead to sever loss incurred by insurance companies. Such a risk of loss comes under the head of underwriting risk. If the hazards covered under the policy are not properly communicated or the underwriting process is not done effectively, then it may lead to serious consequences to the insurer (Kunreuther et al., 1995). Market risk Whatever business sector we discuss, market is a key component of every trade and business. And, it is also evident that market never seems to be placid. It is always so volatile and dynamic that it has consequences on businesses. Life insurance business is a no exception. The risk an insurer faces due to fluctuations in market facets like interest rates, prices of securities, etc. is known as market risk. Major components of market risk may include interest rate risk, equity risk, real estate risk, currency risk, basis points risk, re- investment risk, off balance sheet risk, etc. (Grosen Jrgensen, 2002). Credit risk If a counter party defaults to pay his/ her liabilities, then there is a risk to insurer to lose his stream of payments. Not only this, insurer has to incur some expenses even to send them legal summons to oblige to their duties. If there is a counter party default or a change in credit rating of counter party, then the risk faced by insurer is known as credit risk. Few examples may include business credit risk on the part of re- insurer, political risk, sovereignty risk or risk associated with non- performing assets (Lindskog McNeil, 2003). Recommended Steps to Mitigate Risk To mitigate the above listed risk factors, a life insurer must have a look of the following step by step guide on risk management. Step 1: Life insurers are generally big enterprises and they carry a big pool of risk. Hence, they have a critical need to have a separate risk management division in their business, which is responsible for mitigating the overall risk of business. Sometimes, this responsibility is given to senior managers. It should be kept in mind that they are risk takers and are also working as risk managers. These two conflicting roles may deter both the responsibilities. Hence, a separate risk management team is required. Step 2: Each department of a life insurance company must carefully analyse all the risk areas in depth and breadth that may affect their business adversely. A risk event is quite likely to trigger another risk event. So, all the cross- connections must be carefully identified. Step 3: Next step is to classify those risks under different heads as discussed above. For example, operational risk will require different strategy from that of a market risk. Therefore, risk facets should be organised under correct heads to give a correct direction to mitigation efforts. Step 4: Then is the stage to analyse the intensity of various types of risk that may have a severe financial impact and jotting down the results in quantitative terms. Step5: Lastly, those results are to be used to mitigate the risk and increase profitability. These results will help in formulating alternative courses of action that may reduce the companys exposure towards risk. Pricing of Life Insurance or Rate Making of Life Insurance Factors affecting price of insurance policy There are several factors that affect the pricing of a life insurance policy. Few of them depend on risk concerned, while few are based on demographic details of the client. Mostly considered components are age, gender, health habits, clients health records, medical history of family, lifestyle, driving record of the client and bottom line of the company. Generally, all the life insurers consider all of these basic components to decide the price of their insurance contract, which is known as premium. These factors determine the risk level of a client and hence suggests, to which category of underwriting a client belongs. Few of these components which are considered as most critical are discussed below. Age The most prominent and first question to be asked from a client is about the age. If the client is young, he is less likely to have chronic diseases and other health issues which are common at senior age. Besides that, the person is going to pay many premiums before there is a liability for the insurer to pay a claim, if arises. Hence, they are likely to pay low premium amounts. The case is vice versa for elderly people. Hence, it is recommended to the potential clients that they should take insurance at an early stage. Health habits Most common malpractice towards health is smoking and drinking. In context of insurance, a person who consumes alcohol or is a smoker is put under the head of high risk clients. This makes that person liable to pay more money for the same protection as compared to that of a non- smoker or a non- alcoholic. The difference is such that smokers have to pay double of what a non- smoker is paying. Your current habits depend on what you did in the past. So, an insurer is also keen to know about your past health records. They conduct a proper medical exam of a client in which all the health issues of the client are identified, whether they are related to past or present. A healthy person with clean health habits is likely to pay less and vice versa. Besides that, how much a person is concerned about his/ her life is also of utmost importance. If a client likes racing or trekking, then he/ she are likely to be a part of such things frequently and they are under a larger threat. Family medical history One cannot do anything with hereditary problems. But they impact a persons life. Insurers make sure that the family of the client do not have any history of chronic diseases. Only then, they will be allowed to pay lesser premium. Otherwise, as the intensity of such risk rises, the premium amount will rise in a direct relationship (Bacinello, 2003). Recommendations for Apt Pricing Policy of the Insurer Pricing is the only factor of business facets that is aimed at earning revenues, others incur costs. Hence, to maintain profitability, it must be critically analysed. No obtuse criteria should be used to determine premium of a policy. Premium rates should be determined after a rational statistical analysis of the losses that had occurred in past in the same risk area. The clients past records should also be checked thoroughly. But sometimes, past records analysis do not give best forecasts. So, stochastic and catastrophe modelling should be used by actuaries. Another important fact to be noted is that being a business enterprise, insurance company will set premiums to the level which can cover risk, loss, expenses and a good profit margin. Competition should not be avoided while determining pricing strategies. It should be kept at lower levels to attract customers. Hence, optimum level is to be decided to set premiums for all product ranges while complying with regulatory laws related to pricing of insurance. Conclusion Life insurance is one of the most prominent classes of insurance business. It includes cession as well. A life insurer, being a consortium of unlimited risks, takes insurance from a rather big insurer to shift a part of his risk exposure to re- insurer. Life insurance is typically about selling protection against life of the insured. But this business also involves a variety of other policies ranging from health insurance to travel insurance. Having such a diversified product range also increases the insurers risk exposure like market risk, credit risk, operational risk and underwriting risk. An insurance company needs to have a separate risk management team for controlling the adverse impact of these risks on business profitability. Besides that, pricing or rate making of insurance is also a critical aspect of insurance business. Various components are needed to be evaluated carefully by an actuarial analyst to decide the most appropriate price for the policy. References Bacinello, A.R., 2003. Pricing guaranteed life insurance participating policies with annual premiums and surrender option. North American Actuarial Journal, 7(3), pp.1-17. Ć urak, M., LonÄ ar, S. Poposki, K., 2009. Insurance sector development and economic growth in transition countries. International Research Journal of Finance and Economics, 34(3), pp.29-41. Gerber, H.U., 1997. Life insurance. Life Insurance Mathematics, pp.23-33. Grosen, A. Jrgensen, P.L., 2002. Life insurance liabilities at market value: an analysis of insolvency risk, bonus policy, and regulatory intervention rules in a barrier option framework. Journal of risk and insurance, 69(1), pp.63-91. Grossi, P., 2005. Catastrophe modeling: a new approach to managing risk. Springer Science Business Media, 25. Kawatkar, S. Basu, H., 2013. Risk Management Solvency Assessment of Life insurance companies. Institute of Actuaries of India (IAI). Kunreuther, H., Meszaros, J., Hogarth, R.M. Spranca, M., 1995. Ambiguity and underwriter decision processes. Journal of Economic Behavior Organization, 26(3), pp.337-52. Lindskog, F. McNeil, A.J., 2003. Common Poisson shock models: applications to insurance and credit risk modelling. Astin Bulletin, 33(02), pp.209-38. Murtaugh, C.M., Kemper, P. Spillman, B.C., 1995. Risky business: long-term care insurance underwriting. Inquiry. Otlowski, M. et al., 2007. Investigating genetic discrimination in the Australian life insurance sector: the use of genetic test results in underwriting, 1999-2003. Journal of law and medicine, 14(3), pp.367-96. Starc, A., 2014. insurer pricing and consumer welfare: Evidence from medigap. The RAND Journal of Economics, 45(1), pp.198-220. Swartz, K., 2003. Reinsuring risk to increase access to health insurance. The American Economic Review, 93(2), pp.283-87.