Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macro-economic role and risks of insurance markets are surprisingly limited. The core motivation for publishing this book is to bring together academics,...

We study the optimal insurance design problem. This is a risk sharing problem between an insured and an insurer. The main novelty in this paper is that we study this optimization problem under a risk-adjusted premium calculation principle for the insurance cover. This risk-adjusted premium...