Pauly, Mark V; Kunreuther, Howard; Hirth, Richard - In: Journal of Risk and Uncertainty 10 (1995) 2, pp. 143-56
We propose a guaranteed renewability (GR) insurance in which a sequence of premiums would enable insurers to break even and would be chosen by both low- and high-risk buyers, whether or not they had suffered a loss. The premium schedule would continually decline over time, as the insurer...