) shows that this constraint might well bind: insured could get higher expected utility if insurance contracts would allow … optimal insurance contract he derives underestimates the relevance of the non-negativity constraint on indemnities. This paper …

Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others … have shown long time ago. Interestingly, the same design of insurance policies applies in case of a single loss and ex …-ante moral hazard. However, many insurance policies provide coverage against a variety of losses and the possibilities for the …

correlation in their assets (health, wealth, wisdom, i.e. skills), causing them to demand a great deal of insurance coverage …. Insurers on the other hand eschew positively correlated risks. It can be shown that insurance contributes to a reduction of … insurance. Analyzing deviations from trend in aggregate insurance payments, one finds the following for the United States and …

brink of bankruptcy. In one case, AIG used securities lending to transform insurance company assets into residential … threatening the solvency of the life insurance companies. AIG also sold insurance on multi-sector CDOs, backed by real estate …

This paper investigates the effects of stricter screening of disability insurance applications. A large …-scale experiment was setup where in two of the 26 Dutch regions case workers of the disability insurance administration were instructed … absenteeism and disability insurance applications. We find evidence for direct effects of stricter screening on work resumption …

We formalize the notion that GATT exceptions such as antidumping and escape clause actions can act as insurance for … sectors and assume incomplete markets so that agents cannot contract insurance. We show that these measures are superior to … uniform tariffs as insurance mechanisms. Moreover, we demonstrate that the optimal uniform policy may involve a tariff at all …

payments and financial literacy, as well as markets for health insurance, crop insurance, agricultural credit, small firm …