Narrow search
Showing 1 - 10 of 6,259
Cover Image
Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities
Maurer, Raimond - 2014
Life insurers use accounting and actuarial techniques to smooth reporting of firm assets and liabilities, seeking to transfer surpluses in good years to cover benefit payouts in bad years. Nevertheless, these techniques been criticized as they make it difficult to assess insurers' true financial...
Persistent link: https://www.econbiz.de/10013053850
Cover Image
On the Pricing of Intermediated Risks : Theory and Application to Catastrophe Reinsurance
Froot, Kenneth - 2010
We model the equilibrium price and quantity of risk transfer between firms and financial intermediaries. Value-maximizing firms have downward sloping demands to cede risk, while intermediaries, who assume risk, provide less-than-fully-elastic supply. We show that equilibrium required returns...
Persistent link: https://www.econbiz.de/10013135141
Cover Image
The Market for Catastrophe Risk : A Clinical Examination
Froot, Kenneth - 2011
with natural hazards, such as hurricanes and earthquakes. Risk management theory suggests protection by insurers and other …, especially after cat events. We then examine clinical evidence to understand why the theory fails. Specifically, we examine … hints as to why the theory fails. We explore these hints in eight theoretical explanations and find the most compelling to …
Persistent link: https://www.econbiz.de/10013117926
Cover Image
The Market for Catastrophe Risk : A Clinical Examination
Froot, Kenneth - 2011
with natural hazards, such as hurricanes and earthquakes. Risk management theory suggests protection by insurers and other …, especially after cat events. We then examine clinical evidence to understand why the theory fails. Specifically, we examine … hints as to why the theory fails. We explore these hints in eight theoretical explanations and find the most compelling to …
Persistent link: https://www.econbiz.de/10013124399
Cover Image
Managing Catastrophic Risk
Kunreuther, Howard - 2012
A principal reason that losses from catastrophic risks have been increasing over time is that more individuals and firms are locating in harm's way while not taking appropriate protective measures. Several behavioural biases lead decision-makers not to invest in adaptation measures until after...
Persistent link: https://www.econbiz.de/10013104996
Cover Image
The Market for Catastrophe Risk : a Clinical Examination
Froot, Kenneth - 2012
demonstrate that both features deviate from what theory would predict, yet are characteristic of many transactions, not simply …
Persistent link: https://www.econbiz.de/10013105897
Cover Image
The Pricing of Event Risks with Parameter Uncertainty
Froot, Kenneth - 2010
Financial instruments whose payoffs are linked to exogenous events, such as the occurrence of a natural catastrophe or an unusual weather pattern depend crucially on actuarial models for determining event (e.g., default) probabilities. In many instances, investors appear to receive premiums far...
Persistent link: https://www.econbiz.de/10012763236
Cover Image
Home Equity Insurance
Shiller, Robert J. - 2010
Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such policies is presented here, and conceptual issues are...
Persistent link: https://www.econbiz.de/10012763566
Cover Image
The Market for Catastrophe Risk : A Clinical Examination
Froot, Kenneth - 2010
with natural hazards, such as hurricanes and earthquakes. Risk management theory suggests protection by insurers and other …, especially after cat events. We then examine clinical evidence to understand why the theory fails. Specifically, we examine … hints as to why the theory fails. We explore these hints in eight theoretical explanations and find the most compelling to …
Persistent link: https://www.econbiz.de/10012763776
Cover Image
Inferring Risk Perceptions and Preferences Using Choice from Insurance Menus : Theory and Evidence
Ericson, Keith M. Marzilli - 2015
Demand for insurance can be driven by high risk aversion or high risk. We show how to separately identify risk preferences and risk types using only choices from menus of insurance plans. Our revealed preference approach does not rely on rational expectations, nor does it require access to...
Persistent link: https://www.econbiz.de/10013010289