explain road accidents. Unobservable factors are also significant, which means that insurance pricing should take into account …

We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An … individual who buys a life insurance contract early in life is often uncertain about the make up of his or her future family … two equivalent long-term life insurance contracts that are incentive compatible and achieve a higher welfare level than …

-off between efficient insurance provision and social equity. We also review empirical studies on risk classification and residual …

the Taiwan automobile theft insurance market. These results are consistent with previous literature on the relationship … between fraud activity and insurance contracting. We also show that the severity of opportunistic fraud fluctuates in the …

discrimination. We present an analytical framework that illustrates the potential trade-off between efficient insurance provision and …

insurance to protect individuals and companies from various losses associated with accidents. Other forms of risk management …, alternatives to market insurance, surfaced during the 1950s when market insurance was perceived as very costly and incomplete for …

classification may reduce informational asymmetry-induced adverse selection and improve insurance market efficiency. It may also have … undesirable equity consequences and undermine the implicit insurance against reclassification risk which legislated restrictions … on risk classification could provide. We use a canonical insurance market screening model to survey and to extend the …

-liability insurance industry. …