Financial and insurance activities Sample Clauses

Financial and insurance activities. 641000 monetary intermediation
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Financial and insurance activities. XXXX: K The total value added of financial intermediation activities was mainly produced by financial corporations. The quarterly calculation for financial intermediation activities (K) is done separately for financial service activities, except insurance and pension funding; insurance, reinsurance and pension funding, except compulsory social security; and activities auxiliary to financial services, except insurance and pension funding. The statistics on the central bank (Eesti Pank), credit institutions, big leasing companies and pension funds are produced and published quarterly by Eesti Pank. The rest of the financial intermediaries, financial auxiliaries and insurance companies are covered by quarterly statistical surveys carried out by Statistics Estonia. In case of non-response, annual administrative accounting data from the Commercial Register are used as necessary. All financial institutions are market producers, with the exception of the central bank, the output of which consists both of non-market and market production. The output of non-market production is calculated as the sum of costs, i.e. its intermediate consumption, compensation of employees, social contributions, consumption of fixed capital and other taxes less subsidies on production and depreciation, plus own-account software. Market output is calculated as the sum of commission income, other income, income in kind and own-account software. For non-life insurance, output is calculated as follows: premiums earned plus premium supplements minus adjusted claims accrued minus increases in technical reserves plus other income. Premiums earned are calculated as follows: premiums written minus the change (less increase or plus decrease) in the reserves for premiums earned. Adjusted claims accrued are calculated as follows: claims paid plus the change (less increase or plus decrease) in the reserves for claims outstanding. The sum of costs method is not applied. For life insurance, output is calculated as follows: premiums earned plus premium supplements minus benefits due minus increases (or plus decreases) in technical reserves and with-profit insurance. For pension schemes, output and intermediate consumption are equal to operating costs, so that value added is always zero. The output of activities auxiliary to financial services, except insurance and pension funding, is calculated as the sum of commission income, other income, income in kind, own-account software, and research and develo...
Sample 1

Related to Financial and insurance activities

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  • Risk and Insurance 12.1 All risk of loss, theft and damage of and to the Charged Assets from any cause whatsoever shall be the risk of the Borrower, and no such event shall relieve the Borrower of any obligation under a Drawdown Notice.

  • BONDING AND INSURANCE All expenses of bond, liability, and other insurance coverage required by law or regulation or deemed advisable by the Trustees of the Trust, including, without limitation, such bond, liability and other insurance expenses that may from time to time be allocated to the Fund in a manner approved by its Trustees.

  • Workplace Safety and Insurance Act It is understood that payment of income protection is for the sole and only purpose of protecting employees against the loss of income during time of such illness. Seniority and service will accrue and the Employer shall continue to pay its share of the premium for the benefit plans during the period of the income protection noted in this provision.

  • BONDS AND INSURANCE 10.1 The Contractor shall provide performance and payment bonds on forms prescribed by Owner and in accordance with the requirements set forth in the UTUGCs. The penal sum of the payment and performance bonds shall be equal to the Contract Sum.

  • WORKPLACE SAFETY AND INSURANCE BENEFITS 25.01 An employee who sustains an injury or disease arising out of and in the course of his/her duties is covered by the Workplace Safety and Insurance Act, 1997, S.O. 1997, as amended.

  • Benefits and Insurance The Executive shall, in accordance with Company policy and the terms of the applicable plan documents, be eligible to participate in benefits under any benefit plan or arrangement that may be in effect from time to time and made available to similarly situated Company executives (including, but not limited to, being named as an officer for purposes of the Company’s Directors & Officers insurance policy). The Company reserves the right in its sole discretion to modify, add or eliminate benefits at any time. All benefits shall be subject to the terms and conditions of the applicable plan documents, which may be amended or terminated at any time. The Executive shall be entitled to vacation each year, in addition to sick leave and observed holidays in accordance with the policies and practices of the Company. Vacation may be taken at such times and intervals as the Executive shall determine, subject to the business needs of the Company.

  • WORKPLACE SAFETY AND INSURANCE 41.1 Where an employee is absent by reason of an injury or an occupational disease for which a claim is made under the Workplace Safety and Insurance Act, his or her salary shall continue to be paid for a period not exceeding thirty (30) days. If an award is not made, any payments made under the foregoing provisions in excess of that to which he or she is entitled under Articles 44.1 and 44.6 (Short Term Sickness Plan) shall be an amount owing by the employee to the Employer.

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