We assess the capacity of the U.S. property-liability insurance industry and the efficiency of the state guaranty fund system in response to large scale loss events to assess the resilience of the current system to the growing challenges of climate change. We identify characteristics of the...

We measure insurer responses to new exogenous ratemaking information — changes in credit risk beginning in 2007 — to determine if market competition is effective in protecting consumers. Extant literature yields mixed conclusions regarding efficiency and competition in insurance markets. We...

Take-up rates for windstorm-resistant buildings remain relatively low even in areas with high exposure to hurricanes and tropical storms. To further investigate this issue, we extend the theory on WTP for prevention to include risk attitudes up to the fourth order, deriving total effects and...

We use data on fatal crashes to quantify the risk of distracted driving. We repurpose, extend, and improve a methodology used to estimate the riskiness of drinking drivers (Levitt and Porter 2001). Our analysis suggests that distracted drivers are three times more likely to cause a fatal crash...

We reexamine life insurance and annuity pricing during the 2008 financial crisis. In contrastwith previous research, we find that insurers sold policies at significantly elevated markups overtheir fundamental values during the crisis months and, moreover, that statutory accountingpressures had...

We examine small business financing outcomes approximately one year after Hurricane Harvey. Our data include the credit reports of 8,219 businesses and a detailed survey of 273 businesses in the affected area. We find that Harvey-related flooding increased credit delinquencies, especially...

Purpose This opinion piece outlines the actions taken by the New Zealand government and tourism sectors in response to Covid-19 and to explore the potential lessons for resilience building in tourism for other destinations. Design/methodology/approach The analysis integrates descriptions of the...

We employ a novel spatial regression model to estimate effects of windstorm loss mitigation features on the value of coastal homes. Specifically, we consider joint effects of the Insurance Institute for Business and Home Safety's (IBHS) FORTIFIED HOME^TM . designation (henceforth Fortified) and...