Introduction: According to figures from the US Coalition Against Insurance Fraud‚ the cost of claims fraud in the US alone in 1995 amounted to US$ 85.3 billion‚ which equates to a cost of US$ 326.47 for each American citizen. Research by the Rand Institute for Civil Justice in the US revealed that over one third of people injured in vehicle accidents exaggerated their symptoms‚ which adds US$ 13-16 billion to the annual US insurance bill. Figures from the pan-European trade association‚ the Comité
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REGULATORY CAPTURE THEORY Capture theory assumes‚ firstly‚ that all members of society are economically rational. Therefore‚ each individual will pursue his or her self-interest to the point where the private marginal benefit from lobbying regulators just equals the private marginal cost. Regulation has the potential to redistribute the wealth. Therefore‚ people lobby for regulations that increase their wealth. Second‚ the capture view assumes‚ as with public-interest theory‚ that the government
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Turkey – company under control of Tyco with 4 high-level officers also officers of M/A-COM TTC China – Ministry of Public Security TWW Germany TFIS France TFHK and Keystone – China ADT Thailand – CCTV TFS Malaysia TFIS UK – Egypt THS Saudi Arabia THC China THC Polska Cause of the AAER In early 2006‚ a Commission filing over disclosures‚ accounting fraud and a FCPA injunctive action against Tyco was settled and led to the agreement of an overview of Tyco’s global organization
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SAVE OUR ENVIRONMENT FROM ENVIRONMENT POLLUTION.Ladies and GentlemanOf course all of us known what is the environment. Environment is combination between physic condition including nature energy source situation like land water mineral with plant andanimals which grow up on the ground and in the ocean with institusional including humancreation like decision how to use that the physic environment.After hearing the meaning we can take a conclusion that environment is very important to our life‚ but
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Introduction The current regulatory structure in Hong Kong 3. Hong Kong’s current approach to regulation can be characterized as institutional with functional aspects. This means that the firm’s legal status (bank‚ broker or insurance company) determines which regulator is responsible for supervising its activities from both a prudential and conduct of business perspective. However‚ this has been modified in Hong Kong to allow for the fact that banks are conducting a broader range of financial
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Abstract The main two reasons for the companies to implement variable pay plan are: motivating employees and reducing cost. In this paper we try to point out the challenges the organizations might face when they apply variable pay system by reviewing related literature. We find that it is difficult for the company to have a reliable measure for the variable pay system. In addition‚ the focus of the variable pay plan should be on motivating employees or cutting cost and how to strike a balance between
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In “Protect Yourself‚ Family from Sex Offenders‚” Rick Schneider takes the position that sex offenders should be observed at all times (PA 657-658). One of the hardest and sensitive subjects to talk about is about sex offenders. In America it could go two ways‚ either the convicted is sent to jail and that isn’t even enough for the family that is suffering because of the convict’s actions. It is very difficult to discuss the problems with the results of a convicted sex offender’s life out of jail
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Ethical and Regulatory Issues Paper President Clinton signed the Telecommunications Act of 1996 into law in February 1996. The law modified earlier legislation‚ primarily the Communications Act of 1934. The legislation regulates broadcasting by over-the-air television and radio stations‚ cable television operators‚ satellite broadcasters‚ wireline telephone companies (local and long distance) and wireless telephone companies. The general intention of the Act was deregulation and competition. The
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us on a flight of fancy‚ away from our humdrum lives‚ to a place or country we want to visit without having to pay for the passage. Pleasures derived from eating or playing sports are short lived or ordinary‚ but the pleasure that we derive from reading books is everlasting and fantastic. Even after we have finished reading a book‚ we continue to think about it and derive pleasure from it. To derive maximum from reading‚ we have to gradually pass on from comics‚ detective novels‚ magazines
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Parmalat‚ Europe’s Enron of fraud‚ undermined European accounting and reporting standards. The fraud‚ totaling nearly 18 billion euros‚ brought down the Italian dairy giant and ruined investors across the globe. Such a enormous fraud‚ some would assume‚ would need to be highly complex and fully developed in plan as well as execution. However‚ as Parmalat executives began to cooperate in the investigation‚ it was uncovered how rudimentary their fraud was despite the enormity in which it occurred. Parmalat
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