partial and full insurance can obtain, depending on the relative patience of agents and financial intermediaries. Insurance …

Insurance has an intertemporal aspect as insurance premia have to be paid up front. We argue that the financing of … insurance is key to understanding basic insurance patterns and insurers' balance sheets. Limited enforcement implies that … insurance is globally monotone increasing in household net worth and income, incomplete, and precautionary. These results hold …

defining a meaningful role for insurance in managing business interruption (BI) and other risks from future pandemics. The … insurance industry will be part of that solution set, whether through the continued development of ad hoc state …-by-state initiatives, a private-public partnership in which the insurance industry commits its servicing capabilities, or a private …

preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …