Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macro-economic role and risks of insurance markets are surprisingly limited. The core motivation for publishing this book is to bring together academics,...

Part I: Fundamentals of insurance business The origins and role of insurance in society -- The notion of risk and probability -- The insurance undertaking -- Regulation of the insurance industry -- Supervision and other Authorities -- The insurance business -- The insurance contract -- Life...

This textbook presents the fundamental economic dimensions of insurance companies and links them to managerial issues. Combining academic rigour and a strongly practice-oriented approach, it addresses both the competitive environment and the management of the insurance business. Further, it...