We investigate the economic impact of stochastic endogenous extreme events and insurance in a growth model. Our … analytical results and computational experiments show that i) transparency of the insurance sector is the decisive requisite for … insurance fairly is preferable to an insurance industry which provides insurance with an overhead. …

European region reduces the regional GDP by 0.4%-0.6%; an average flood event in the U.S.A reduces the personal income by 0 ….3%-0.4%. Mandatory insurance regimes in Europe absorb the negative short-run effect of a flood, while the National Flood Insurance … Program (NFIP) in the U.S.A. mitigate the effects of a flood by about 50%. The results provide empirical foundation for the …

This study investigates the role of insurance in economic growth on a panel of forty-eight countries in Africa for the … period 2004-2014. The research question the study seeks to answer is the following: what thresholds of insurance penetration … positively affect economic growth in Africa? The empirical evidence is based on Generalized Method of Moments. Life insurance …