Methodology for Calculating the Job Loss Insurance Rate
https://doi.org/10.26794/2587-5671-2023-27-1-162-173
Abstract
The relevance of the research topic is confirmed by the fact that in the context of globalization, job search and job loss have become rather common. Therefore, the working-age population needs to be protected from job loss when looking for a new job. The purpose of the article is to develop a methodology for calculating the job loss insurance rate for citizens. The methodology is based on an actuarial approach that allows a comparison of the net rate and the gross rate paid by the insured. The scientific novelty of the study lies in the consideration of the net rate based on the reasons for employee termination, and the analysis of the possibilities of distributing the net rate between the employee and the employer. Main research methods include tabular and graphical methods, analysis and synthesis, comparison, induction, and deduction. As a result of the introduction of job loss insurance, the social protection of the population in the context of COVID‑19 is being strengthened, and opportunities for temporary coverage of expenses during the job search period are being increased. The author concludes that this type of insurance is promising in a market economy and may become not only a new and interesting insurance product but also an effective tool for the social protection of the population in regions with high labor market turbulence.
Keywords
job loss insurance,
actuarial calculations,
employee,
employer,
insurance rate,
insurer,
methodology for calculating the insurance rate
JEL: G22, G52, J65
About the Author
A. V. Bandurin
Financial University
Russian Federation
Competing Interests:
Russian Federation
Aleksandr V. Bandurin - Dr. Sci. (Econ.), Prof., Department of Psychology and Human Capital Development, Faculty of Social Sciences and Mass Communications
Moscow
Competing Interests:
The author has no conflicts of interest to declare
References
1. Kuropatenkova I. N., Zenovchik Yu. M. Organization of the unemployment insurance system in the Republic of Belarus. In: Scientific works of the Belarusian State Economic University: Anniver. coll. Minsk: Belarusian State Economic University; 2013:190–197. URL: http://library.bseu.by:8080/bitstream/edoc/7550/2/Kuropatenkova_I_N_Trudy_2013_S_190–197_ocr.pdf (In Russ.).
2. Pichkov O. B. Role of insurance in the US social policy implementation. Strakhovoe delo = Insurance Business. 2018;(2):50–59. (In Russ.).
3. Shram V. P. Pension insurance reform in Croatia at the present stage. Zhurnal zarubezhnogo zakonodatel’stva i sravnitel’nogo pravovedeniya = Journal of Foreign Legislation and Comparative Law. 2015;(4):590–596. (In Russ.). DOI: 10.12737/14270
4. Yakovleva A. V., Kim A. G. The Swedish unemployment insurance system. Ekonomika i predprinimatel’stvo = Journal of Economy and Entrepreneurship. 2019;(1):175–180. (In Russ.).
5. Clasen J., Viebrock E. Voluntary unemployment insurance and trade union membership: Investigating the connections in Denmark and Sweden. Journal of Social Policy. 2008;37(3):433–451. DOI: 10.1017/S 0047279408001980
6. Roik V. D. Social insurance: History, problems, ways to improve. Moscow: s. n.; 1994. 126 p. (In Russ.).
7. Tokmakov A. S. Risk assessment as a component of the system of compulsory social insurance. In: Economics and modern management: Theory and practice. Proc. 3rd Int. sci.-pract. conf. Novosibirsk: Sibirskaya akademicheskaya kniga; 2011;(3). URL: https://sibac.info/conf/history/i/54398 (In Russ.).
8. Kalmykov Yu. P. About improvement of the social insurance mechanism. Strakhovoe delo = Insurance Business. 2020;(5):40–48. (In Russ.).
9. Sharova E. Insurance against job loss during the period of mass layoffs. Sovremennye strakhovye tekhnologii. 2009;(4):35–43. (In Russ.).
10. Soloshchenko I. L. Job loss insurance: Features and future perspective. In: Young Russia. Proc. 7th All-Russ. sci.- pract. conf. of young scientists with int. particip. (Kemerovo, April 21–24, 2015). Kemerovo: T. F. Gorbachev Kuzbass State Technical University; 2015. ISBN 978–5–906805–36–2. URL: https://science.kuzstu.ru/wp-content/Events/Conference/RM/2015/RM15/pages/ Articles/IEU/5/20.pdf (In Russ.).
11. Kovtun Ya.A., Pisarevskaya M. A. Job loss insurance. In: International scientific research 2017: Proc. 26th Int. sci.- pract. conf. (Moscow, November 19, 2017). Moscow: “Olymp” Scientific Center; 2017:337–338. (In Russ.).
12. Logacheva A. V., Smagin A. A. Essence and main advantages of job loss insurance. In: Science of the 21st century: Theory, practice, development prospects. Proc. Int. (correspond.) sci.-pract. conf. (Kishinev, March 20, 2018). Kishinev: Mir nauki; 2018:81–84. (In Russ.).
13. Maximov S. I., Rusinov D. A. Employment insurance in Russia: Development prospectives with connection to the coronavirus pandemic. Samoupravlenie. 2021;(6):47–50. (In Russ.).
14. Poletaev A. V. Employee insurance costs. Moscow: Delo i servis; 2015. 176 p. (In Russ.).
15. Mirzabalaeva F. I., Pashkova S. E., Antonova G. V. Concerning insurance principles of protection against unemployment in the Russian labour market. Ekonomika truda = Russian Journal of Labor Economics. 2021;8(9):1019–1038. (In Russ.). DOI: 10.18334/et.8.9.113433
16. Laskina L. Yu., Yakovleva A. V. Risk management through unemployment insurance. Nauchnyi zhurnal NIU ITMO. Seriya: Ekonomika i ekologicheskii menedzhment = Scientific Journal NRU ITMO. Series: Economics and Environmental Management. 2013;(1):27. (In Russ.).
17. Bykov A. A. On methodology for economic assessment of the value of statistical life (explanatory note). Problemy analiza riska = Issues of Risk Analysis. 2007;4(2):178–191. (In Russ.).
18. Matveeva E. V., Ukraintsev I. S., Ukraintseva D. A. Social risks management in the local self-government (following the material of expert assessment). Vestnik Zabaikal’skogo gosudarstvennogo universiteta = Transbaikal State University Journal. 2018;24(4):85–91. (In Russ.). DOI: 10.21209/2227–9245–2018–24–4–85–91
19. Mikhina T. V. Economic mechanisms of management of occupational risks. Gornyi informatsionno-analiticheskii byulleten’ (nauchno-tekhnicheskii zhurnal) = Mining Informational and Analytical Bulletin (Scientific and Technical Journal). 2016;(6):222–230. (In Russ.).
20. Tinasilov M. D., Urkumbaeva A. R. The methodology of actuarial calculations of insurance in the economy. Nauka i innovatsionnye tekhnologii. 2017;(2):20–22.
21. Sukhorukova I. V., Chistyakova N. A. Calculation of mathematical reserve of the insurance company under joint insurance of risks. Vestnik Mariiskogo gosudarstvennogo universiteta. Seriya: Sel’skokhozyaistvennye nauki. Ekonomicheskie nauki = Vestnik of the Mari State University. Chapter: Agriculture. Economics. 2019;5(1):116–123. (In Russ.). DOI: 10.30914/2411–9687–2019–5–1–116–122
Review
For citations:
Bandurin A.V. Methodology for Calculating the Job Loss Insurance Rate. Finance: Theory and Practice. 2023;27(1):162-173. https://doi.org/10.26794/2587-5671-2023-27-1-162-173
Views:
494
Email this article 