properties. Despite recent innovations in finan- cial and insurance markets, many markets remain incomplete and there exists an …

This paper is intended as a guide to building insurance risk (loss) models. A typical model for insurance risk, the so … distribution. The collective risk model is often used in health insurance and in general insurance, whenever the main risk … components are the number of insurance claims and the amount of the claims. It can also be used for modeling other non-insurance …

insurance contracts. We show that in a competitive insurance market with heterogeneous risk averse farmers, there is … simultaneous demand for both insurance contracts. Moreover, the introduction of multi-year contracts enhances the market … penetration of insurance products. Using U.S. corn yield data, we empirically assess the potential of multi-year crop insurance. …