management) may depend on their access to capital markets. The property-casualty insurance industry has two features that make it …

The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a … insurance as a retrospective (post-loss) risk financing tool and the risk transfer mechanism upon it. As the risk financing tool … insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may …

The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a … insurance as a retrospective (post-loss) risk financing tool and the risk transfer mechanism upon it. As the risk financing tool … insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may …

-distance medieval trade was indeed highly costly and risky and that (ii) maritime insurance, with higher protection against the non …

The current EU rules governing the solvency of insurance companies essentially base the required minimum equity capital … on the volume of insurance business the companies write. Thus, no attempt is made to identify or quantify the central … risks borne by insurance companies. In response to criticism of this approach, the European Commission is currently drafting …

A change in the corporate tax level can have a significant impact on rate making and capital structure for insurance … stochastic claims costs. We further com-pare the results for liability models with and without a jump component. Insurance rate …