Catastrophes, like earthquakes, bring sudden and severe damage, causing fatalities, injuries, and property loss. This often triggers a rapid increase in insurance claims. These claims can encompass various types, such as life insurance claims for deaths, health insurance claims for injuries, and general insurance claims for property damage. For insurers offering multiple types of coverage, this surge in claims can pose a risk of financial losses or bankruptcy. One option for insurers is to transfer some of these risks to reinsurance companies. Reinsurance companies will assess the potential losses due to a catastrophe event, then issue catastrophe reinsurance contracts to insurance companies. This study aims to construct a valuation model for catastrophe reinsurance contracts that can cover claim losses arising from two types of insurance products. Valuation in this study is done using the Fundamental Theorem of Asset Pricing, which is the expected present value of the number of claims that occur during the reinsurance coverage period. The number of catastrophe events during the reinsurance coverage period is assumed to follow a Poisson process. Each impact of a catastrophe event, such as the number of fatalities and injuries that cause claims, is represented as random variables, and modeled using Peaks Over Threshold (POT). This study uses Clayton, Gumbel, and Frank copulas to describe various dependence characteristics between random variables. The parameters of the POT model and copula are estimated using Inference Functions for Margins method. After estimating the model parameters, Monte Carlo simulations are performed to obtain numerical solutions for the expected value of catastrophe reinsurance based on the Fundamental Theorem of Asset Pricing. The expected reinsurance value based on Monte Carlo simulations using Indonesian earthquake data from 1979–2021 is Rp 10,296,819,838.

The COVID-19 pandemic in 2019 heralded a downturn in the Thai economy, particularly in the tourism and hospitality sectors which rely heavily on international tourists. To decrease the dependence of international tourists, this research outlined three objectives as 1) explore and classify the high-end domestic tourism market among 77 provinces in Thailand, 2) study the potential and readiness of tourism resources and tourism products to cater to the demand of high-end domestic tourists, and 3) suggest tourism management approaches for domestic high-end tourists after the crisis. Both quantitative and qualitative research methodologies were applied to achieve the research objectives. Income was used to identify and segment high-end domestic tourists living in 77 provinces in Thailand, while a verified questionnaire collected data from 1200 respondents nationwide. Forty-one experts from different tourism-related agencies at local and regional levels were targeted using purposive sampling techniques, and semi-structured interviews were conducted to acquire qualitative data. High-end domestic tourists, classified by monthly income, were segmented into Silver (50,000–70,000 THB), Gold (70,001–90,000 THB), Diamond (91,001–110,000 THB), and Platinum groups (Over 110,001 THB). These high-end domestic tourists shared both similarities and differences in tourism needs, preferences, and behaviors. Sixteen provinces in six domestic regions demonstrated the potential and readiness of tourism resources and products to satisfy the needs, preferences, and behaviors of high-end domestic tourists.

The government’s land registration program aims to protect communities from future land disputes. However, lack of community support presents challenges to its process and implementation. Utilizing a qualitative case study approach, this article examines these challenges from the community’s perspective, focusing on land registration, community participation, and implementation dynamics. It suggests that learning from these dynamics can enhance the program’s effectiveness, highlighting the need for a systematic approach to community involvement.

Using the Intercultural Competence and Inclusion in Education Scale (ICIES), this study examines variations in intercultural competence and inclusion between mainstream and multiethnic high schools. The sample consisted of 384 high school students, aged 17 to 18, from both rural and urban areas in Western Romania, enrolled in grades 11 and 12. The ICIES demonstrated strong reliability, with a Cronbach’s alpha of 0.721. Exploratory factor analysis revealed three distinct dimensions: Intercultural opportunities and activities, Comfort in diverse settings, and Cultural reflection and values. Independent samples t-tests identified significant differences between mainstream and multiethnic schools across several items, with students in multiethnic schools reporting higher levels of intercultural competence and inclusion. These findings highlight the critical role of multicultural educational settings in fostering students’ cultural awareness and inclusive attitudes. This study provides actionable insights for enhancing multicultural education practices and policies, including teacher training programs, inclusive curricula, and extracurricular initiatives that promote intercultural engagement and reduce intergroup biases.

This article explores ethnomedicine or traditional medication written in palm-leaf manuscripts in Lombok, West Nusa Tenggara. Most of the manuscripts in Lombok are written on palm leaf or lontar. One genre of palm-leaf manuscripts is USADA or traditional medication. These USADA manuscripts, serving as guides for traditional healers (dukun and balian), contain valuable information on diseases, treatments, herbal remedies, and incantations. The study reveals that ethnomedicine remains a relevant and respected practice in Lombok, often considered on par with modern medicine. Many residents rely on traditional healers for healthcare, particularly for minor illnesses. The research also highlights the living nature of the manuscript tradition, with continued recitation, copying, and teaching of these texts to younger generations. However, challenges persist in preserving these manuscripts and promoting wider appreciation for this unique cultural heritage.

This study aims to examine and analyze financial statement fraud from the perspective of the hexagon theory using secondary data. The research sample was selected through purposive sampling, consisting of Ministries and Agencies in Indonesia. The research method employing the OLS (ordinary least squares) approach involves testing the model’s suitability through the F-statistical test, evaluating the coefficient of determination by examining, and conducting hypothesis testing using EViews. The findings of this study suggest that pressure and sscapability do not significantly influence financial reporting fraud. In contrast, opportunity, rationalization, arrogance, and collusion positively and significantly impact financial fraud reports. Implementing a whistleblowing system is crucial for ensuring that e-procurement encompasses all elements of government organizations, serving as a means of transparency and accountability to mitigate the occurrence of fraudulent financial reports within government entities, particularly in Ministries and Agencies in Indonesia. The financial audit opinion is not intended to detect fraud but to assess conformity with government accounting standards, the extent of disclosure, compliance with legislation, and the effectiveness of the government's internal control system. This can encourage institutions in other countries to strengthen the financial security of their organizations.