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. …

The objective is to examine the determinants of the relationship between insurance growth and economic development … factors that affect the demand) and the development side (insurance is a determinant of growth) …