We test for the causal impact of analyst coverage on corporate risk-taking in the property and casualty insurance sector, using the exogenous change in analyst coverage introduced by broker closures and mergers. We find that a decrease in analyst coverage promotes an increase in insurers’...

The determinants of insurance consumption have been extensively studied, yet spatial correlations are rarely considered within this framework. In this paper, we discuss several channels through which spatial dependence may arise and then test for spatial dependence using six years (2009-2014) of...