can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …

This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural … insurance cover from the private market and/or can do so only at premiums that substantially exceed their expected claims costs … levels with the creation of Citizens Property Insurance Corporation (an insurer of last resort) and the Florida Hurricane …

, the demand for LTC insurance is still ostensibly small in comparison to the financial risk, which is reflected in the … formation of expectations of insurance coverage. One explanation that has received limited support is that expectations of … either ‘public sector funding’ and ‘family bailout’ crowd out individual incentives to seek insurance. This paper aims to …

This paper studies the interdependence between property insurance and portfolio selection. The insurance premium of … and an increase in any insurance parameter would make the investor more “conservative.” The effect of a stock market … insurance at the expense of current consumption. …

A famous idea to maintain affordable health expenditures is to cut back statutory health insurance (SHI) to a basic … insurance and to introduce supplementary private health insurance (PHI), permitted to cover the remaining benefits and to apply …

It is widely recognized that “market failure” prevents efficient risk sharing in natural disaster insurance. As a …-private partnerships. We define risk selection as a situation where private companies pass insurance of high risk agents on to the public …

We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An … individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her …. We derive two equivalent long-term life insurance contracts that are incentive compatible and achieve a higher welfare …

This paper introduces a new rationale for the existence of “Directors’ and Officers’” (D&O) insurance. We use a model …-term increases in stock prices that do not maximize long run stock market value. We show that D&O insurance provides a convenient … in capital markets. The empirical results support the idea that both the insurance coverage and the premium are higher in …

We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates "standard …