We study how risk management through hedging impacts firms and competition among firms in the life insurance industry …

Standard theories of insurance, dating from Rothschild and Stiglitz (1976), stress the role of adverse selection in … explaining the decision to purchase insurance. In these models, higher risk people buy full or near-full insurance, while lower … insurance markets, in many others, it is the lower risk individuals who have more insurance coverage. If the standard model is …

exposure. We develop an equilibrium model of insurance markets in which financial frictions and market power are important …

One unusual feature of the U.S. property-casualty insurance industry is the coexistence of stock and mutual companies … insurance companies respond to differences in their underwriting environment. Agency theories suggest that the stock company may …' performance, by state and by line, in eight different lines of insurance. Stock companies are more likely than mutuals to reduce …

Care Act (ACA)'s Health Insurance Marketplaces. The RC program, which was defunded ahead of coverage year 2016, and ended … defunding, had greater premium increases in 2017, after the program ended. Insurance markets in which more insurers made RC …

insure against severe reductions in income of widows by purchasing more life insurance. These findings lead, therefore, to … enough life insurance to prevent a sharp drop in the wife's consumption if her husband dies. This conclusion raises the … question of the role of the government in requiring the purchase of life insurance by couples, through the social security …