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Free the captives (public sector commercial insurance)

Foreman-Peck, James S. 2003. Free the captives (public sector commercial insurance). Public Finance 14 , pp. 30-31.

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Abstract

Argues that, if public sector organizations were to set up captive insurance schemes, risk-awareness among civil service administrators would increase. Points out the National Health Litigation Authority, whose database allows best medical practice to be identified. Notes that government bodies normally cannot buy commercial insurance, so they cannot operate commercial risk management policies and attribute losses to the maintenance budget rather than to the appropriation account. Suggests insurance would introduce an incentive to take risk seriously. Concludes with some ideas for setting up a scheme.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HJ Public Finance
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
R Medicine > RA Public aspects of medicine
Uncontrolled Keywords: Insurance; Public Sector; Risk Management; United Kingdom
Publisher: Chartered Institute of Public Finance and Accountancy
ISSN: 0954-0962
Last Modified: 04 Jun 2017 04:28
URI: http://orca.cf.ac.uk/id/eprint/39799

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