We present novel empirical evidence on the contractually mandated purchase of insurance by corporate creditors. In a large sample of private credit agreements of publicly-traded firms, we find that nearly all agreements contain at least a boilerplate provision requiring the borrower to purchase...

COVID-19 has demonstrated the challenges that policymakers, insurers, businesses, and employees face when disaster assistance programs are developed after the pandemic has already started. There is now an opportunity to design and implement effective and efficient solutions to manage the...