purchases a good to compensate consequences of unfavorable events, such as an accident or an illness. Insurance policies in most … lines of insurance base indemnity on the insured's actual expenses, i.e., the insured would be partially or completely … reimbursed when purchasing certain goods. In this setting we discuss the interaction between insurance and repair markets by …

purchases a good to compensate consequences of unfavorable events, such as an accident or an illness. Insurance policies in most … lines of insurance base indemnity on the insured's actual expenses, i. e., the insured would be partially or completely … reimbursed when purchased certain goods. In this setting we discuss the interaction between insurance and repair markets by …

This paper revisits the “economics of insurance” using the insights from derivatives pricing and hedging. Applying this … perspective, we emphasize the following insights applicable to insurance. First, we provide a valid justification for the use of … arbitrage-free insurance premiums. This applies in both complete and incomplete markets. Second, we demonstrate the importance …

This article revisits the economics of insurance using insights from derivatives pricing and hedging. Applying this … perspective, I emphasize the following insights applicable to insurance. First, I provide a valid justification for the use of … arbitrage-free insurance premiums. This justification applies in both complete and incomplete markets. Second, I demonstrate the …

Decentralized insurance can be used to describe risk sharing mechanisms under which participants trade risks among each … other as opposed to passing risks mostly to an insurer in traditional centralized insurance. There are a wide range of … Middle East, peer-to-peer insurance in the West, international catastrophe risk pooling by African, Caribbean and Central …

aversion, insurance, specialization, per capita real income, and productivity progress. It is shown that transaction …; insurance will promote the equilibrium level of division of labor, per capita real income, and productivity …

Internal capital models are increasingly used across the insurance business, including reinsurance optimization, risk … order to embed capital models within their organisations. To address this question, we interviewed 31 insurance … practitioners; primarily modelers, but also underwriters and board members – working in London Market insurance firms, as well as …

Decentralized insurance can be used to describe risk sharing mechanisms under which participants trade risks among each … other as opposed to passing risks mostly to an insurer in traditional centralized insurance. There are a wide range of … Middle East, peer-to-peer insurance in the West, international catastrophe risk pooling by African, Caribbean and Central …

significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to … provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those … will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting …