Changes in mortality rates have an impact on the life insurance industry, the financial sector (as a significant proportion of the financial markets is driven by pension funds), the governmental agencies, and the decision and policy makers. Thus, the pricing of financial, pension and insurance...

Determining and forecasting the financial situation of insurance companies of Ukraine has become an important issue of financial supervision in view of the need to ensure the sustainability of the financial sector and reduce the negative impact of the insolvency of insurance companies. Given the...

What should be the minimum value of data security or privacy to a customer? We reason that at a minimum this value should be equal to the premium charged by an insurer for cyber insurance that compensates the customer for the claims resulting from the data security and privacy breaches. We...

Climate-related physical risks pose serious concerns for both public and private finances, and it is of utmost importance to contain economic losses when natural catastrophes occur. In this context, the paper models the potential economic impact of currently uninsured floods in the EU. It also...

A simple formula for non-discriminatory insurance pricing is introduced. This formula is based on the assumption that certain individual (discriminatory) policyholder information is not allowed to be used for insurance pricing. The suggested procedure can be summarized as follows: First, we...

Generalized linear models have the important property of providing unbiased estimates on a portfolio level. This implies that generalized linear models manage to provide accurate prices on a portfolio level. On the other hand, neural networks may provide very accurate prices on an individual...

We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...

This article investigates the understandings and perceptions of (micro)insurance among lowincome people in southern Ghana, using evidence from four focus group discussions. It analyzes how the focus group participants think about various types of insurance - among them a micro life insurance...

There exist a vast number of studies on the banking industry. However, the insurance industry remains relatively unexplored. Increasingly, Austrian insurance institutions are becoming important as financial intermediaries in the domestic market, and - based on proximity advantage - also in the...

When countries, and macroeconomic models, open up to international capital markets, the welfare gains available through completion of financial markets for contingencies potentially are much greater than those available from access to noncontingent international borrowing. Intercasual insurance,...