Global financial regulators are currently reflecting on the nature of the insurance business. Specifically, they are … trying to classify insurance into "traditional" and "non-traditional" activities, and to distinguish them from "non-insurance … international finance is "what is insurance and where does insurance end?" This paper aims to elaborate on the economics of …

welfare by implementing appropriate tax and subsidy schemes that make insurance more affordable and also lower insurers …

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 … time series of profits and losses and recovers stylized facts, such as the insurance cycle and the emergence of asymmetric …

This article examines the regulatory challenges raised by recent, overlooked changes in insurance markets that have led … to a functional convergence between insurance and the broader financial sector.The law literature on financial regulation … context of insurance, and does so by applying an analytical framework that distinguishes between two “boundary problems” that …

Using a sample of 50 countries during 2000-2008, this study investigates the possible impact of insurance regulations … on life insurance consumption. The evidence reveals a negative and statistically significant association between … supervisory control of the policy conditions of life annuities and pension products and life insurance consumption. A similar …

Homeowners’ insurance provides households financial protection from climate losses. To improve access and affordability …, state regulators impose price controls on insurance companies. Using novel data, we construct a new measure of rate setting … overcome pricing frictions by cross-subsidizing insurance across states. We show that in response to losses in high friction …

macroprudential insurance regulation. …

This paper provides a rationale for the macro-prudential regulation of insurance companies, where capital requirements … actuarially fair technical reserve. However, these instruments are not sufficient when insurance companies are exposed to systemic …’s exposure to systemic risk. Implementing the optimal policy implies separating insurance firms into two categories according to …

Solvency II is a new risk-based framework for setting the capital requirements of European insurance companies, in … be applied at a representative European life insurance company …