In this article, we study the problem of optimal index insurance design under an expected utility maximization framework. For general utility functions, we formally prove the existence and uniqueness of optimal contract, and develop an effective numerical procedure to calculate the optimal...

Purpose – The purpose of this paper is to analyze the optimal reinsurance contract structure from the crop insurer's perspective. Design/methodology/approach – A very powerful and flexible empirical‐based reinsurance model is used to analyze the optimal form of the reinsurance treaty. The...

Purpose – The purpose of this paper is to analyze the optimal reinsurance contract structure from the crop insurer's perspective. Design/methodology/approach – A very powerful and flexible empirical-based reinsurance model is used to analyze the optimal form of the reinsurance treaty. The...