Nael Sayedahmed

Assistant Prof. Accounting, Modern University College. Palestine

DOI : https://doi.org/10.58806/ijsshmr.2024.v3i9n05

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ABSTRACT

Insurance policy is considered as the main way to express the risks that a person is exposed to during their life. Insurance policy system involves a prior agreement between two parties through which the risk is transferred from the insured party to the insurer in return for paying a certain amount. The main goal of any scientific analysis of the risks associated with a certain insurance policy is to calculate the losses related to the risk, and choose the most appropriate policy to confront it, by identifying the risks and how to confront them. The current research focuses on three main topics, including: What insurance policy is, how banks manage risks in Palestine, and how to determine the obstacles of insurance policies and ways to overcome these, by developing ways to analyze risks and Implement suitable insurance policies. The research focused on testing a sample of 80 individuals including top level and middle level managers and employees at local banks in Palestine, where the statistical results concluded that there is a correlation and positive impact between the use of insurance policies and banking risks; where banks apply suitable insurance policy to their needs to achieve risk mitigation goals, and safe keeping the economy in general. The current study recommended that banks in Palestine need to have different insurance contracts to manage different risks, and that insurance companies need to focus on continuous analysis of risks related to the Palestinian environment, where banks desire special designed policies for each of their unique risks.

KEYWORDS:

Insurance policy, bank risks, risk management, interest rate risk

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VOlUME 03 ISSUE 09 SEPTEMBER 2024