All insurance products are bundles. For example, medical insurance bundles oncology and cardiology insurance. What determines which risks are insured together, and is this welfare enhancing? Theoretically, I introduce selection- costs correlated with willingness-to-pay- into a model of bundling...

Natural disaster risk is predicted to increase worldwide because of climate change. Insurance may be purchased to provide individuals financial resilience against the damages caused by disasters, however a key question for policymakers is whether disaster insurance penetration rates are impacted...

Directive 2009/138/EC, best known as Solvency II Directive, is more than a directive that simply regulates the supervision and the taking-up and pursuit of (re)insurance business in the EU. First and foremost, it introduces a new perspective on the role of (re)insurance undertakings towards risk...

It is witnessed by IRDA (Insurance Regularity Development Authority) governing Body of Insurance Council in its recent report that insurance corporations and their agents are often involved in foul, mis-selling while endorsing of insurance products especially life insurance products. Therefore...

Academic and philanthropic communities have grown increasingly concerned with global catastrophic risks (GCRs), including artificial intelligence safety, pandemics, biosecurity, and nuclear war. Outcomes of many risk situations hinge on the performance of human groups, such as whether democratic...

In this paper we propose a robust assessment for the net premium of a standard lifeinsurance contract with respect to the uncertainty on the estimated residual lifetimedistribution function. Specifically, we provide a method to derive the range of valuesthat the net premium of a given contract...

Catastrophe insurance is an important element of disaster management. Yet the historic presence of inequalities in insurance, from redlining to pricing disparity, has had a devastating impact on minority communities. While the fairness of insurance ratemaking has been studied in general, we...

We study the impact of housing wealth and individual preferences on demand for annuities and long-term care insurance (LTCI). We build a multi-state lifecycle model that includes longevity risk and health shocks. The preference is represented by a recursive utility function that separates risk...

We design and test a novel insurance advice mechanism aimed at promoting trust and cooperation in markets with asymmetric information. In a buyer-seller game, sellers are given the option to advise buyers on whether to purchase third-party insurance against the potential losses from the...