Volume 5, Issue 1 (3-2022)                   Iran J Health Insur 2022, 5(1): 32-43 | Back to browse issues page

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Nazemi B, Gudarzi Farahani Y. Effect of COVID-19 Pandemic on the Country's Insurance Industry in the Vector Autoregression Model: A Secondary Study. Iran J Health Insur. 2022; 5 (1) :32-43
URL: http://journal.ihio.gov.ir/article-1-186-en.html
1- Isfahan Branch, Islamic Azad University, Isfahan, Iran
2- Department of Economics, Faculty of Economics and Management, Qom University, Qom, Iran , yazdan.farahani@gmail.com
Abstract:   (621 Views)
Introduction: With the outbreak of Covid-19 in China and its spread to other countries, financial markets around the world were severely affected by this crisis. The global effects of the Covid-19 outbreak include rising global unemployment, severe shocks to the world economy, declining crude oil prices, declining global trade in most of the countries involved, and the closure of the world to foreign trade. The aim of this study was to investigate the effect of Covid-19 pandemic on the performance indicators of the country's insurance industry.
Methods: This study was a secondary study. In addition, in this study, the statistical data of 1991-2020 and the autoregression vector model were used to investigate the effect of the Covid-19 pandemic on the insurance industry. In this study, the Covid-19 pandemic is included in the model as an exogenous shock.
Results: The findings of this study indicated that the release of Covid-19 leads to an increase in production premiums and claims paid in the life and non-life insurance sector. The results showed that the impact of the Covid-19 pandemic on the life insurance sector was greater than non-life insurance.
Conclusion: In countries with lower inflation rates and stable economies, the effects of Covid-19 on production premiums are negative, but in countries that experience high inflation with economic instability, the effects of Covid-19 on production premiums are positive. In fact, in the country, due to the annual increase in the ransom rate, which increases the third-party insurance premium, exchange rate fluctuations and inflation also lead to the growth of insurance companies' production premiums. For this reason, the recession and economic growth of the country in recent years has not had a negative effect on the growth of premiums and only the growth rate of premiums has increased or decreased.
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Type of Study: Research | Subject: Special
Received: 2021/09/2 | Revised: 2022/07/5 | Accepted: 2022/04/9 | ePublished: 2022/06/25

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