Showing 1 - 10 of 1,021
This paper evaluates the potential value of a weather index insurance for the agriculture sector in an high income country (Germany). In our theoretical analysis we model an index insurance, a loss-based insurance market as well as a combination of both kinds of insurance and compare the...
Persistent link: https://www.econbiz.de/10015198578
Why did shareholder liability disappear? We address this question by looking at its use by British insurance companies from 1830 until its complete disappearance by 1975. We explore three explanations for its demise: (1) regulation and government-provided policyholder protection meant that it...
Persistent link: https://www.econbiz.de/10013465609
Purpose: This study addresses the effect of ICT on the relationship between re-engineering and the performance of some selected insurance companies in Nigeria. It emphasizes the need to ensure that insurance companies achieve substantial improvement in performance via viable IT infrastructure to...
Persistent link: https://www.econbiz.de/10014434614
We develop an agent-based simulation of the catastrophe insurance and reinsurance industry and use it to study the problem of risk model homogeneity. The model simulates the balance sheets of insurance firms, who collect premiums from clients in return for insuring them against intermittent,...
Persistent link: https://www.econbiz.de/10014502112
By leveraging randomly timed exposure to local cyclones as natural experiments, this study pioneers a comprehensive causal analysis of cyclone impacts on residential outcomes among Australian individuals. Drawing upon over two decades of nationally representative longitudinal data from the...
Persistent link: https://www.econbiz.de/10014519020
This contribution starts out by noting a conflict of interest between consumers and insurers. Consumers face positive 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...
Persistent link: https://www.econbiz.de/10010315580
We compute the optimal dynamic asset allocation policy for a retiree with Epstein-Zin utility. The retiree can decide how much he consumes and how much he invests in stocks, bonds, and annuities. Pricing the annuities we account for asymmetric mortality beliefs and administration expenses. We...
Persistent link: https://www.econbiz.de/10010316095
The use of catastrophe bonds (cat bonds) implies the problem of the so called basis risk, resulting from the fact that, in contrast to traditional reinsurance, this kind of coverage cannot be a perfect hedge for the primary’s insured portfolio. On the other hand cat bonds offer some very...
Persistent link: https://www.econbiz.de/10010316284
In our article we consider insurance as a means of allocating terrorism risk. Terrorism poses a significant challenge for insurers worldwide. In terms of possible losses it fits into the same category as earthquakes and hurricanes. Yet as a result of the uncertainty surrounding these risks...
Persistent link: https://www.econbiz.de/10010276581
This paper provides an overview on the existing systems of natural hazards insurance in Europe, their structural characteristics and peculiarities. It also discusses the difficulties of an adaptation of these systems to climate change and a growing number of natural disasters. Using the case of...
Persistent link: https://www.econbiz.de/10010294830