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 undertakings belong to a group of highly profitable financial institutions, which is connected with higher level of tax liability. However, representatives of ruling parties in the Czech Republic are considering an implementation of new sector tax focused on commercial insurance...