This research aims analyzing the professional liability for a chartered accountant, who has to have by law a professional indemnity insurance, in order to ensuring his clients an adequate indemnity for possible damages. By the indemnity insurance doesn’t mean to justify negligence of the professional insured, because he has to avoid or reduce mistakes and omissions as far as possible, otherwise he could lose or reduce the amount of compensation for his damages. In this study, after briefly analyzing the market of the professional indemnity insurance, we examine the key elements for evaluating professional liability and the main components of insurance contract for a chartered accountant. Then, we focus on the technical phase risk management and determination of pricing in this area. Finally, we highlight results of an exploratory empirical analysis about the typical professional mistakes of a chartered accountant and the consequent remuneration for damage.

Obiettivo del presente lavoro è indagare, dal punto di vista tecnico, giuridico e assicurativo, la tematica della responsabilità civile del dottore commercialista, offrendo altresì un valido supporto operativo agli specialisti del settore. A tal fine, dopo una preliminare analisi del mercato della R.C. professionale e un approfondimento sulla gestione del rischio assicurativo in tale settore e sul calcolo del pricing, saranno esaminati gli elementi-chiave per la valutazione della responsabilità civile del dottore commercialista e le componenti del contratto assicurativo della R.C. professionale; si proseguirà, quindi, con un’analisi tecnica, volta ad indagare la fase di liquidazione del danno in ambito assicurativo, per poi passare ad esaminare con una metodologia per casi alcune delle tipologie più ricorrenti di sinistro, con i riferimenti normativi e giurisprudenziali ad esse riferibili; da ultimo, saranno esposti i risultati di una prima analisi empirica, di tipo esplorativo, sulla R.C. professionale del dottore commercialista, volta ad individuare la natura degli errori e delle omissioni tipiche della professione, oltre che le differenti soluzioni risarcitorie prospettate dalla Compagnia assicurativa, al fine ultimo di costruire un database che consenta, una volta raggiunta la necessaria significatività statistica, di adeguare il premio applicato all’effettivo rischio assicurato.

Un manuale che affronta il complesso tema della finanza di progetto attraverso un'analisi integrata dei profili giuridici con quelli più tecnici di natura economico-finanziaria. L'indagine viene svolta attraverso l'approfondimento della normativa nazionale in materia di appalti pubblici alla luce dei recenti interventi comunitari, in costante confronto con l'esperienza, in particolare, del settore bancario nel campo del finanziamento delle opere pubbliche. L'analisi giuridica è di ausilio allo studio dei problemi di valutazione della fattibilità economico-finanziaria dell'operazione, in uno con i rilevanti aspetti della valutazione del rischio di credito, con particolare riferimento alle scelte in merito ai modelli di gestione.

This study fits into the research topic about the pricing and risk management models in the decisions of financial intermediaries. In particular, this work investigates the Project Finance (PF) exposures which are characterized by a specific prudential regulation in the general framework of Basel II, so called Supervisory Slotting Criteria Approach (SSCA). After a literature review about the bank loans pricing, this research aims at, on the one hand, investigating the impact of the SSCA on the risk-adjusted pricing applied by a sample of banks operating in the PF sector in Italy and, on the other hand, identifying a subjective model of judgmental analysis that clarifies the specific risk weights to be considered for mapping projects to the five supervisory categories (strong, good, satisfactory, weak, default), highlighting the implications on pricing. The results emerging from empirical analysis confirmed theoretical expectations: on average the pricing increases with the higher risk of PF exposure (i.e. from strong to default in the SSCA). Moreover, varying the risk weights assigned to each evaluation driver of every individual supervisory category also pricing modifies, increasing or reducing according to the factors the bank considers relevant to its risk exposure. Among the strengths of the paper, as well as the empirical analysis about the pricing-PF relation not much investigated so far, the proposal of a judgment-based model to classify PF loans. Without a precise indication by international regulators, the same project could be differently valued based on merely subjective evaluations made by banks, then not confirmed by experience yet. But a criticism of this model comes from inevitable difficulties to subjectively assess standard weights.

The cooperative credit system plays a key role within the French banking sector. Its main features are the strong territorial links and excellent knowledge of local custom. This is due to the decentralized organizational structure of the French cooperative banks. Together with commercial banks, mutual and cooperative banking groups are the second type of French credit intermediaries qualified, by banking law, to carry out any banking transaction in the observance of limits put by laws, regulations or statutes. This chapter is divided into three sections. The first section analyzes features, regulators and the structure of French banking system as well as the profitability and efficiency indicators of French banks. The second section, dedicated to the cooperative credit sector in France, analyzes its institutional and legal aspects as well as the structure of the French cooperative network. In particular, we describe in detail the four mutual and cooperative banking groups in France, and we examine the evolution of their dimensional, economical and patrimonial results between 2003 and 2005. Finally, the third section provides a dimensional and economical comparison between cooperative and commercial banks in terms of the evolution of the banks’ number and market share for deposits and loans; then, this section illustrates the guidelines followed by international rating agencies to attribute cooperative banks’ rating; and finally, the third section provides a comparative analysis of the four cooperative banking groups with reference to the main results achieved on 31 December 2005.