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 …

, EU institutions have encouraged the expansion of agricultural insurance. With different degrees of public support …, insurance systems against several risks have been successfully developed across the EU and have adopted increasingly … comprehensive forms. Eventually, EU institutions have started to assess the development of a comprehensive income insurance …

) 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 …. -- Insurance ; Indemnity ; Deductible ; Co-Insurance …

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 …