Coping with economic deprivation during unemployment

The negative impact of unemployment on psychological health is well known. Less is known of the ways that people cope with the problems associated with unemployment, one of which is economic deprivation. This study examined the interrelationships between employment status (200 unemployed participants and 128 employed participants), economic deprivation, coping-efforts and psychological health. It also examined the moderating effect of coping on the relationship between economic deprivation (restriction of spending for material necessities and restriction of spending for meaningful leisure activity) and psychological health. The results suggest that economic deprivation is experienced differentially in terms of material necessities and meaningful leisure activities with unemployed respondents differing from employed on levels of deprivation for meaningful leisure activities but not for material necessities. Employment status, economic deprivation for meaningful leisure activity, solution-oriented coping and affective-based coping significantly predicted depressive affect and self-esteem. Depressive affect was also predicted by economic deprivation for material necessities. A number of significant two-way interactions show that the relationship between economic deprivation and psychological health was conditional upon the use of solution-oriented coping. Results also showed that the relationship between employment status and depressive affect was moderated by the use of affective-based coping. The incorporation of these findings into intervention programmes for unemployed persons is discussed.

Predicting self-esteem during unemployment: the effect of gender, financial deprivation, alternate roles, and social support

Two hundred and one unemployed men and women participated in a cross-sectional study that assessed self-esteem, financial deprivation, number of alternate roles, and use of social support. Financial deprivation, alternate roles, and social support each had a main effect on self-esteem. In addition, these variables interacted with gender to affect self-esteem. Specifically, financial deprivation had a greater negative association with self-esteem in men as compared with women. In contrast, alternate roles and social support had a stronger positive relationship to self-esteem in women than in men. The incorporation of these findings into intervention programs for unemployed persons is discussed.

The origins of formal collusion in Australian fire insurance 1870-1920

The market for insurance has become increasingly competitive in recent years. However, it has not always been so. At the end of the nineteenth century, it was characterized by a highly concentrated and tightly controlled oligopolistic market structure. As such, the history of the fire insurance industry provides an interesting case study in the development of collusive behaviour amongst firms. Up to 1897, pricing agreements among firms were generally short-lived, and were followed by periods of intense competition. After this point, an agreement was forged, which proved very resilient to market pressures and formed the basis of premium rate setting until the 1970s. This paper investigates the difference between this agreement and previous efforts to set premium rates, and points to some of the common features of the later compact, which explain its longevity.

Managers' views on ABC in an insurance company: A grounded theory case study

This is an in-depth case study using a grounded theory approach to explore managers’ views of ABC as part of the control system in an insurance company. Relevant issues are allowed to emerge from the data rather than imposing a theoretical framework upon them. Hypotheses are derived rather than confirmed. Issues emerging from this case study include: the relevance of ABC to managers, increased cost awareness coupled with the problem of taking qualitative factors into account, and the existence of different perceptions of managers within the same department. One hypothesis is how an understanding of ABC can affect job satisfaction by influencing the impact of ABC on managers’ actions. In this case study process and non-process managers had different levels of understanding and use of ABC information. A second hypothesis is that how managers view ABC information depends on whether they adopt a personal or an organisational perspective.

Benefits of employee training program : implications for the insurance industry

The decision to commit to the cost of training employees in insurance
organisations of all sizes is similar in nature to the decision by their customers to buy insurance. Both believe it is necessary but each has some reservations about its benefits.

Adaptation and change in the Australian life insurance industry : an historical perspective

In the wake of the deregulation of the financial sector in Australia in the 1980s and 1990s the life insurance industry has undergone a period of rapid change and reorganisation. Part of this adjustment has been the move towards the integration of financial service provision and the rise of bancassurance. This paper investigates the strategies adopted by Australian life insurers as they moved into the increasingly competitive environment triggered by the lifting of government restrictions on banking practices. It compares the approach of life insurers with that adopted in an earlier period of expansion and change. During the 1950s and 1960s an influx of foreign owned insurance companies into the Australian market precipitated the diversification of domestic life insurers into other insurance markets. The catalyst for change in both cases was the change in information costs brought about by the change in the competitive environment. The experience of the Australian life insurance market would suggest that there is a link between changing information costs and changing organisational structures. However this link is circumscribed by the institutional environment.

Control of the Australian life insurance industry: an example of regulatory externalities within the Australian financial sector 1870-1945

The regulatory environment in which the Australian life insurance industry operates has its antecedents in two major periods of legislative intervention. The first established the principle of ‘freedom with disclosure’ in the 1870s, which has since formed the basis of the regulatory approach. In the 1940s, the second refined the concept in the context of a general recognition of an interventionist approach to financial markets. It is suggested that regulation of the life insurance market in Australia came about not in response to problems associated with market failure but in reaction to external influences not directly related to conditions in the Australian life insurance industry. This was impacted not only on the timing of intervention but on the approach taken as well.

Insurance services in multi-agent systems

In a multi-agent environment, there is often the need for an agent to cooperate with others so as to ensure that a given task is achieved timely and cost-effectively. Present agent systems currently maximizes this through mechanisms such as trust and risk assessments. In this paper, we extend this mechanism by introducing the concept of insurance, in which the insurance agents act as a bridge between agents who require resources from others. Unlike traditional systems, agents purchase insurance so as to guarantee to have the requested resources during the task execution time and thus minimize the risk in task failure. The novelty of this proposal is that it ensures agents continuously to exchange resources and to seek maximum expected utility in a dynamic environment at the same time. Our experimental results confirm the feasibility of our approach.

An analysis of the environment as a means of assessing training needs in the Insurance industry in Australia

In the five years leading up to 2002 there were many significant changes in
the insurance industry in Australia that brought about a range of training
needs. These training needs arose from matters as diverse as mergers, increased competition, corporate failures, and legislative changes. This study includes findings from a survey of the insurance industry in Australia in the period 2000·2002 asa means of exploring the importance of the environment (marketplace) in predicting aspects of training needs. The findings demonstrate that an environmental analysis approach to training needs analysis can predict the type of training that organisations will subsequently need to provide, and thus has the potential to produce a more accurate assessment of training needs in the future. The findings also have application to more broadly based businesses operating in the financial services sector of the economy

Integrating insurance services, trust and risk mechanisms into multi-agent systems

In multi-agent systems, there is often the need for an agent to cooperate with others so as to ensure that a given task is achieved timely and cost effectively. Currently multi-agent systems maximize this through mechanisms such as coalition formation, trust and risk assessments, etc. In this paper, we incorporate the concept of insurance with trust and risk mechanisms in multi-agent systems. The novelty of this proposal is that it ensures continuous sharing of resources while encouraging expected utility to be maximized in a dynamic environment. Our experimental results confirm the feasibility of our approach.

Buying and selling with insurance in open multi-agent marketplace

In this paper, we incorporate the insurance concept in buying and selling model for agents to trade in the open multi-agent marketplace. During buying, agents purchase insurance as a method to search for potential sellers and select their partners based on the information provided by insurance agents. During selling, agents purchase insurance as a method to protect themselves against potential risk. The insurance concept greatly simplifies the trading procedure in the open marketplace. The novelty of this proposal is that it ensures a dynamic trading environment while agents continue to seek maximum utility and being fully protected by insurance. Our experimental results confirm the feasibility of our approach.

The nature and development of the general insurance industry in Australia to 1973

The development of the insurance industry in Australia in the twentieth century was fundamentally shaped by a collusive code of conduct called the tariff. This arrangement, established to overcome problems of uncertainty, initially benefited both tariff and non-tariff firms by enhancing market stability. It also reduced competition. The collusive agreements gradually broke down, however, as new entrants and products entered the market in the 1950s. Self-regulation gradually gave way as the 'rules of the game' changed. The result was a period of instability before new competitive practices, and more direct and specific regulatory requirements emerged in the 1970s.

Structural adjustment and change in the Australian life insurance industry post demutualization

Deregulation of financial markets has been an important platform for government policy in recent times. It has been a catalyst in the expansion of financial sector. The experience of Australian life insurers during this period represents an interesting case study into the impact of regulatory transition. The lifting of restrictions changed the institutional environment within which life insurers operated. In doing so it precipitated changes in strategies and organizational structures of these financial intermediaries. An information cost framework is used to analyse the consequences of deregulation and its implications for the Australian life insurance industry in emerging global financial markets.

Reducing latent deprivation during unemployment: the role of meaningful leisure activity

The aim of this study was to investigate the role of meaningful leisure activity in reducing latent deprivation during unemployment. Samples of unemployed (N=201) and employed (N=128) participants were asked to rate their levels of latent deprivation using the Access to Categories of Experience Scale. They were also asked to complete the Profile of Mood States depression subscale, Adult Self-Perception Profile, Meaningful Leisure Activities Questionnaire, and to rate the frequency with which they engaged in social and solitary leisure activities. Results indicate that unemployed participants engaged in social leisure activities less frequently than employed participants and solitary leisure activities more frequently; and they reported higher perceived latent deprivation, higher depressive affect and lower self-esteem. Overall, these findings suggest that participation in leisure activities that are meaningful, rather than simply frequent, may be a constructive and readily achievable coping response during unemployment.