In this paper we analyze insurance demand when the utility function depends both upon final wealth and the level of … documented in real insurance markets. …

This paper presents a welfare analysis of several capital insurance programs in a rational expectation equilibrium … setting. We first explicitly characterize the equilibrium of each capital insurance program. Then, we demonstrate that a … capital insurance program based on aggregate loss is better than classical insurance, when big financial institutions have …

Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit … insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this … credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking …

We study risk-minimization for a large class of insurance contracts. Given that the individual progress in time of … visiting an insurance policy's states follows an F-doubly stochastic Markov chain, we describe different state-dependent types … of insurance benefits. These cover single payments at maturity, annuity-type payments and payments at the time of a …

We study the optimal insurance design problem. This is a risk sharing problem between an insured and an insurer. The … for the insurance cover. This risk-adjusted premium calculation principle uses the cost-of-capital approach as it is … suggested (and used) by the regulator and the insurance industry. …

selection problems. More specifically, a modified version of the normal constraint method is implemented with a global solver in … experiments are carried out on a set of portfolios to be optimized for an EU-based non-life insurance company. Both performance …