Our paper analyses the effect of natural catastrophes on insurance demand in a developing economy and the specific role … of insurance regulation in this relationship. We base our analysis on a theoretical model as well as a panel regression … insurance regulation in recent years. The theoretical results indicate that a loss experience should have a less positive effect …

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 …