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This paper explores the economic issues related to systemically important insurance companies, using an example from … the Great Depression, the National Surety Company. National Surety was a large and diverse insurance company that … policyholders staged a massive run on the company, demanding the return of their unearned premiums. The New York State Insurance …
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We develop a parsimonious model to study the equilibrium structure of financial markets and its efficiency properties. We find that regulations aimed at improving market outcomes can cause inefficiencies. The welfare benefit of such regulation stems from endogenously improving market access for...
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Credit related insurance and other debt protection are products sold in conjunction with credit that extinguish a … penetration rates observed in the 1950s and 1960s raised concerns about coercion in the sale of credit insurance. This study … presents evidence on credit insurance purchase and debt protection decisions from a new survey. The findings provide little …
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