fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over … whose type turns out to be high risk but low demand renew more of their GR insurance than is efficient due to the attractive …

We study the demand for actuarially fair Long Term Care (LTC hereafter) insurance in a setting where autonomous agents … themselves, while no agent wishes to buy complete insurance. We then show that the comparison of marginal utility of income (as … opposed to consumption) across health states depends on (i) whether agents do buy LTC insurance at equilibrium or not, (ii …

activities, the limits of insurance can be re-established. Such delineation is essential to determine appropriate systemic risk …Global financial regulators are currently reflecting on the nature of the insurance business. Specifically, they are … trying to classify insurance into "traditional" and "non-traditional" activities, and to distinguish them from "non-insurance …

that hardly explains the many features of an insurance contract. We extend this setup to include the situation that the … costlessly observable, then it should be included in the contract to improve the risk sharing-incentive trade-off under moral … show how the law of insurance contracts should allow insurers to incentivize policyholders to exert an adequate level of …

retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement … that different risk-groups prefer different types of contracts, and that only the sequential contracts, which are …