In 2018, the Insurance Distribution Directive (IDD) was fully implemented by all EU member states. It intends to … harmonize the insurance market, provide the right incentives for the agents and protect the consumers. But why? The core … the latest changes in the insurance business require these limitations and monitoring. This paper offers a literature …

I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility … and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk … transfer, but meeting a conditional need. In this way, insurance aligns the risk in one's ftnancial endowment with the risk in …

Common economic models of insurance theory assume that insurers play no role in modifying the loss potential … important features into an insurance market, we argue that insurers may alter the loss potential via their pricing strategy …. This is because the (market equilibrium) price of insurance affects the individuals' prevention decisions. Individuals …

This paper investigates the impact of insurance contract design on the behavior of filing fraudulent claims in an … experimental setup. We test whether or not peoples' fraud behavior varies for insurance contracts with full coverage, a straight …-malus contracts with variable insurance premiums significantly reduce insurance fraud both compared to full coverage and deductible …