Accounts Department of the insurances in Morocco
- General Introduction
- Review of the management theory of profit
- Management issue statement
- The motivation of the management statement
- Methods of management estimates result
- The impact of governance mechanisms on the management result
- Theoretical foundation of concept of governance
- Board and management statement
- Audit and performance management
- Research addressing the impact of governance mechanisms on the management of results
- Governance & Management Result empirical study in the Tunisian context
- Research Methodology
- Presentation of the sample
- Analysis of questionnaire
This presentation will focus on what is commonly called: insurance accounting accounting accounting designed to meet the specialcharacteristics of the profession of insurance companies in Morocco.
So first it is necessary, before entering the heart of the matter and deal with regulatory and accounting practice in this area, focusing on a fewbasics to know: the definition of insurance and operations carried out by a insurance company.
Insurance is a transaction whereby one party, the insured is promised a fee, the premium for him or a third party in case of occurrence of a risk, a benefit by another party, the insurer, which supports a set of risks,compensated by the laws of statistics.
Three key words are emphasized in this definition :The premiun, that is paid by the insured to the insurer to hedge against risk. The second key is the risk, it is a random event and uncertain by the fact of its occurrence, the date of its occurrence and the realization of this event leads to the payment of the benefit. The benefit, is a sum of money determined by contract (life insurance) or following the evaluation of the value of damage(insurance contracts of things or responsibilities). It is due upon the occurrence of risk.
First, note that the production cycle is reversed in the field of insurance,that is, the cost of the service provided is priced before being made, something that requires a good knowledge of statistical laws and the establishment of complete records of each case.
Indeed, a commercial network is essential to offer customers insurance products it seeks to market. Operations used by insurance companies, reinsurance and / or fundingare presented to the public, limited by the following insurance intermediaries, which include agents brokers, the insurance company and direct sales. For insurance intermediary, it is said to be the agents and brokers.
An agent is defined as: "An individual, trustee of one or more insurance companies, authorized by statute to submit insurance operations and management of insurance contracts written within the limits and conditions fixed by the Treaty of appointment. "AFNOR.
This is the establishment of an insurance proposal with an intermediary who forwards it to the insurance company. This establishes the corresponding font and the receipt for the recovery of the premium and sends them to the intermediary for signature and looks to regulate premiums on the agreed dates.
Any amendment to the contract must be established by an amendment (Amendment precision Amendment or extension of benefits increase, Endorsement reduction or increase in guarantees, Endorsement of termination, suspension or reinstatement.) That generates receipts for premiums.
The draft Insurance Code, the legislative part is first to meet aregulation that was sparsely built on half a century. The development of a single document certainly facilitate its handling, but would also and above all generate clear and consistent objectives for a sector whose economic and social role is well established.
Thus, the code aims to strengthen the collection of savings in the insurance sector which would benefit from having an adequate legal framework to promote a sound and transparent management of companies operating in this area.
Tags: Insurance-definition, Accounts department of insurance, Morocco