https://www.um.edu.mt/library/oar/handle/123456789/9679 Sat, 18 Apr 2026 06:14:13 GMT 2026-04-18T06:14:13Z https://www.um.edu.mt/library/oar/handle/123456789/10156 Title: Catastrophe risk in Malta : evaluation and risk control from an insurance perspective Abstract: Catastrophes occur when least expected and are the cause of human hardship and severe economic consequences. The purpose of this paper is to examine and assess the risk posed by catastrophes, both natural and man-made, as defined in the introduction. In addition, the study investigates the role of the Government and insurance companies in mitigating catastrophes and the respective methods adopted to mitigate the risk posed by the defined catastrophes. Design: In order to achieve the desired objectives, semi-structured formal interviews were carried out with the experts from insurance companies and insurance agencies. These were conducted in the period between November 2013 and February 2014 and a response rate of 85.7% was achieved. Findings: The study evidenced that natural catastrophes are addressed well by both the insurance industry and the Government. This is due to the availability of reinsurance treaties and national projects undertaken by the Government. On the other hand, the analysed risks of man-made catastrophes are uninsured in the local market. This is due to the heavy reliance on traditional risk transfer mechanisms that cater for standard risk. Additionally, this means that an alternative risk transfer mechanism is non-existent in Malta. Consequently, it is up to the Government to employ mitigation techniques in order to counteract catastrophe risks. Conclusion: The study concludes that natural catastrophes are well catered for by both the Government and the insurance companies. However, in a collective manner, there is room for improvement in both the Government and insurance industry with respect to manmade catastrophes. Furthermore, standard and traditional mitigation techniques are dominant in the local insurance industry. Value: It is hoped that this study, together with the various proposed recommendations, will increase the awareness on the risk of catastrophes in Malta and will also be useful in reducing the effects of catastrophe with regards to human hardship and economic impacts. The proposed recommendations include: an increase in risk-sharing with consumers, the introduction of terrorism cover with Government capping, the introduction and implementation of revised building codes, and pressure on the Government to invest heavily in oil-spill pollution. Description: B.COM.(HONS)INSURANCE Wed, 01 Jan 2014 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/10156 2014-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/9869 Title: How did social media impact the role of embassies with regards to small communities of Maltese in Australia Abstract: The aim of this dissertation is to find out what means of communication are used between the Maltese community in Australia and the Malta Foreign Affairs. By identifying the means of communication used by Diasporas and the MFA the government can recognize what needs to be developed in order to have better communication. This is an important issue since Diasporas are important and yield several benefits to a country. The study was conducted by understanding what have been said about Diasporas and the importance of Social media in a globalised world. Interviews were carried out in order to have a knowhow of the social media tools used by the Community in Australia the MFA and the High Commission in Australia. The research indicated that the Maltese communities in Australia achieved a considerable success in using social media and maintaining good communication between the community and their homeland. The case studies have shown that there needs to be a distinction between the first generation of Maltese in Australia and the second and subsequent generations in the way they make use of social media. It was also apparent that the Government needs to use means of communications such as Facebook and Twitter to reach out the second and subsequent generations of Maltese in Australia. The realization that MFA needs to link with Diaspora and that these emigrants may serve Malta's national interest is slowly emerging but not yet fully acknowledged. By improving communication the Government can integrate individuals to help in the development of the country. Description: B.A.(HONS)INT.REL. Wed, 01 Jan 2014 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/9869 2014-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/9857 Title: The influence of data management on a firm's performance in our local insurance industry Abstract: Data is one of the most fundamental assets for insurance companies. It forms the basis of every decision made by an insurer. The main aim of the study was to establish how the management of data affects the performance of insurance companies. This could be reached by identifying how data is stored and what safeguards are used against the loss of data, and analysing data security measures used by insurance companies. Furthermore, the use of data warehouses in the insurance industry was also investigated. Interviews were carried out with 5 local insurance companies, 1 foreign insurance company and the MFSA. The research consisted of open-ended, semi-structured, in-depth interviews aimed to establish the importance of data management in the local insurance companies. Insurance companies are aware of how valuable data is for an insurance company. In fact, firms ensure that they have enough storage capacities in place. Insurance companies store data in-house on various storage devices. They also store data offsite and do regular backups to safeguard against loss of data. Cloud storage is becoming increasingly important in the management of data. This system is still being studied in the local insurance industry. Secondary research showed that the amounts of data breaches are increasing. Data security measures include physical security, authentication and encryption. In the local insurance industry data breaches are not common. However, local companies highlighted the risk of stealing of data from current or previous employees. Secondary research also showed high failure rates when companies implement a data warehouse. However, the Maltese insurance companies have implemented a data warehouse successfully or are in the process of doing so. It was established that a data wa It can be concluded that local insurance companies have adequate data management systems in place. The use of Cloud storage will help the Maltese insurance companies to better manage their data. Furthermore, local insurance companies must ensure that they keep up with technological advancements. Description: B.COM.(HONS)INSURANCE Wed, 01 Jan 2014 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/9857 2014-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/9856 Title: Funding stipends : a sensitivity test analysis Abstract: This dissertation examines the effects of mortality and fertility changes on the future cost of stipends by projecting the number of University of Malta students and stipend paid per student. A deterministic model; based on best-estimate mortality, fertility, inflation and University application rates; is sensitivity tested with respect to mortality and fertility. The model confirms that the projected population is expected to decrease due to a lower crude fertility and higher crude mortality rates. However, due to the compounded inflation rate, the future costs of stipends are expected to increase in absolute but not relative terms. Sensitivity testing shows that an increase in fertility rate is more likely to adversely affect stipend cost than a decrease in mortality rates. Being aware of the effects of such demographic changes generates knowledge of fiscal future implications and helps the government in being proactive rather than reactive when planning the unfunded obligation of stipend cost. Description: B.COM.(HONS)INSURANCE Wed, 01 Jan 2014 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/9856 2014-01-01T00:00:00Z