Summary |
One sometimes gets the impression that “inflation” is on absolutely novel phenomenon which does not present an insurable hazard and is impossible to calculate, thus being a risk a private insurance enterprise is not able to cover.
In the present paper authors should like to examine three questions:
1. What is “inflation”? Is the phenomenon referred to by this term in the case of the insurance industry really a genuine “inflation” either exclusively or at least to a very great extent?
2. In what way does the phenomenon of “inflation”, regardless of how it is to be defined, affect and influence the various branches of insurance?
3. Which possibilities are there of eliminating or reducing to the greatest possible extent the influence “ inflation” has on insurance, with the help of the means available to private enterprise?
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