Resumo

CHICAIZA BECERRA, Liliana Alejandra  e  CABEDO SEMPER, José David. Financial options as a mechanism for estimating insurance and reinsurance premiums in the Colombian health system. Cuad. Adm. [online]. 2007, vol.20, n.34, pp.221-236. ISSN 0120-3592.

Financial instruments for protection against risks include protection options when faced with variations in the price of an underlying asset and insurance and reinsurance operations that give coverage against the risk derived from the occurrence of a loss. This article presents the existing equivalencies between risk coverage with options and the coverage generated with insurance operations. In addition, it shows how the similarity becomes evident in the case of reinsurance operations carried out by insurance companies that operate within the Colombian health system. In that manner, the authors prove that the coverage provided through high-cost illness reinsurance operations in the Colombian health system may be replicated through the acquisition of options and that the option valuation theory may be used to estimate insurance and reinsurance premium values.

Palavras-chave : Reinsurance; risk; financial options; health insurance.

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