beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

with banking and insurance sectors, we show that credit risk transfer can be beneficial when banks face uniform demand for …

the insurance sector. The downside risk of insurers is explicitly modelled by common and idiosyncratic risk factors. Since … results point to a relatively low insurance sector wide risk. Dependence among insurers is higher than among reinsurers. …

that insurance companies hold. Until very recently and within the scope of Solvency II, liquidity risk was only considered … under Pillar II, i.e. the proposal was that insurance companies should perform a mere qualitative evaluation of it. Nowadays … Portuguese insurance sector, using actual portfolio holdings. The main empirical findings confirm liquidity risk is an important …

The insurance industry could potentially play a greater constructive role in mitigating climate risk by aligning with …

Climate risk impacts the insurance industry on both sides of the balance sheets. On the one hand, rising weather …

insurance to protect individuals and companies from various losses associated with accidents. Other forms of risk management …, alternatives to market insurance, surfaced during the 1950s when market insurance was perceived as very costly and incomplete for …