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 …

This paper explores the impacts of traditional agricultural insurance that offers protection against climatic shocks on … a natural experimental setup of the form in which the insurance was launched. We fnd that tobacco producers with access … to the insurance program were less likely to acquire informal loans, were less likely to use loans to repay debts, and …

Insurance contract nonperformance relates to situations when valid claims are not paid by the insurer. We extend … probabilistic insurance models to allow for such nonperformance risk as well as ambiguity regarding nonperformance and loss … contract nonperformance. In line with our predictions, insurance demand decreases by 17 percentage points in the presence of …