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 …

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 …

-free physical capital and risky human capital. Households have access to a complete set of credit and insurance contracts, but their … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 … parameters have non-negligible effects on equilibrium insurance and welfare, but the result that young households are severely …

. Existing empirical results support our theory based on short-run labor responses across US industries. We derive closed …

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 … international finance is "what is insurance and where does insurance end?" This paper aims to elaborate on the economics of …

attributed to product market deregulation, in particular liberalization of shop-closing laws effected in the mid-1990s. I sketch …

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

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 …