Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without …. Efforts to close this insurance gap include the introduction of parametric (index) insurance products for various catastrophic … risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information …

People often fail to insure against catastrophes, even when insurance is subsidized. Even when insuring homes, many … homeowners still underinsure the full value of their assets. Some researchers have suggested using long-term insurance contracts … to reduce these insurance gaps. We examine insurance decisions in a computer-administered experiment that makes several …

, and climate change is predicted to intensify this problem. The Index-Based Livestock Insurance (IBLI) scheme piloted in …

financial protection from climate risk via catastrophic weather risk transfer tools. Done well, a weather index insurance (WII … Palmer Drought Severity Index and identify district-specific trigger and exit points for the insurance plan. We quantify the … impact of this hypothetical insurance product using past production data to calculate an actuarially-robust and welfare …

competitive life insurance market offering actuarially fair annuities. There exists a tragedy of annuitization: although full …

It is widely recognized that market failureʺ prevents efficient risk sharing in natural disaster insurance. As a …-private partnerships. We define risk selection as a situation where private companies pass insurance of high risk agents on to the public …

nature. Competitive equilibrium cannot provide such transfers if insurance firms are unable to precommit their customers. On … the other hand, public insurance plans that do not distinguish between "risk-class" realizations are also inefficient. It …

This informal paper explores models of competitive insurance market equilibrium when individuals of initially similar …

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 …