trends and systematic risk. Systematic risk cannot be readily diversified in an insurance pool or pension fund. It is an … important factor in assessing solvency and highlighting the tail risk in longevity insurance and pension products. Idiosyncratic …

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. …