We analyze the value of insurance when individuals have access to credit markets. Loans allow consumers to smooth … financial shocks over time, decreasing the value of consumption smoothing from insurance. We derive formulas for the value of … insurance that can be taken to data, and show how that value depends on individual characteristics and features of loans. We …

A rent guarantee insurance (RGI) policy makes a limited number of rent payments to the landlord on behalf of an insured … society. While unrestricted access is not financially viable with either private or public insurance providers due to moral …

and valuation of life insurance contracts. Ignoring aggregate lapsation risk results in cross-subsidization across …We study aggregate lapsation risk in the life insurance sector. Using the regulatory reporting of historical lapse … risk factors that explain a large fraction of the common variation in lapse rates of the 30 largest life insurance …

behavior? To test this, we examine the impact of FSB collapse on life insurance-holding, an accessible alternative savings … vehicle over the late 19th and early 20th centuries. We document a sharp and persistent increase in insurance demand in …

We develop a new dataset to study homeowners insurance. Our data on over 47 million observations of households …' property insurance expenditures from 2014-2023 are inferred from mortgage escrow payments. First, we find a sharp 33% increase …

Health insurance is increasingly provided through managed competition, in which subsidies for consumers and risk …

Despite its promise to help low-wealth households manage climate risk, index insurance remains hampered by downside … basis risk, meaning that an insured party suffers a loss, but receives no payment because the insurance index fails to … focuses on the creation of statistically rigorous insurance zones that minimize downside basis risk. In contrast to our …

As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to … parcel-level wildfire risk, together with insurance premiums derived from insurers' regulatory filings, to investigate how … insurance is priced and provided in a large market for homeowners insurance. We document striking variation in insurers' risk …

evaluate the design of dynamic pricing regulations in the U.S. long-term care insurance (LTCI) market. We find that stricter …