We analyze the value of insurance when individuals have access to credit markets. Loans allow consumers to smooth … financial shocks over time, decreasing the value of consumption smoothing from insurance. We derive formulas for the value of … insurance that can be taken to data, and show how that value depends on individual characteristics and features of loans. We …

A rent guarantee insurance (RGI) policy makes a limited number of rent payments to the landlord on behalf of an insured … society. While unrestricted access is not financially viable with either private or public insurance providers due to moral …

We study aggregate lapsation risk in the life insurance sector. Using the regulatory reporting of historical lapse … risk factors that explain a large fraction of the common variation in lapse rates of the 30 largest life insurance … and valuation of life insurance contracts. Ignoring aggregate lapsation risk results in cross-subsidization across …

As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to … parcel-level wildfire risk, together with insurance premiums derived from insurers' regulatory filings, to investigate how … insurance is priced and provided in a large market for homeowners insurance. We document striking variation in insurers' risk …

We present a conceptual framework to better understand the interaction between settlement and the emergence of de facto … depending on the violence potentials of de facto and de jure claimants. We examine land settlement and conflict on the frontiers … relatively peaceful where claimants have reasons to organize collectively (Australia and the U.S.). The settlement process will …

We examine the relationship between product liability litigation and innovation by systematically combining data on …---substantially affect the likelihood of litigation. These changes also provide quasi-exogenous variations in litigation that confirm our … baseline findings. Finally, we show that litigation appears to induce firms to develop safer devices. Overall, our findings …

for settlement negotiations, but how this occurs interacts with the expectations regarding whether a settlement will occur …