Solvency II is a new risk-based framework for setting the capital requirements of European insurance companies, in … force since January 2016. The solvency capital requirement (SCR) is set such that the insurer can meet its obligations over … contribution to the solvency capital requirement, to provide insight in the risk allocation and the trade-off between return and …

We study the risk sharing implications that arise from introducing a disaster relief fund to the cat insurance market … predictions in the context of the Terrorism Risk Insurance Act (TRIA). It is already known the introduction of TRIA led to … negative abnormal returns in the insurance industry. In addition, we show this negative effect is stronger for larger and for …

beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

The global insurance industry is undergoing fundamental change, with countries that are classified as emerging … taking by insurance firms around the world between 2001 and 2014. We measure societal trust and risk avoidance using the …

Firms, insurance companies, pension funds, and broadly speaking the international community focus already their …

In response to the growing threat of climate change, the insurance industry has made significant investments in …, attorneys, insurance practitioners, and industry regulators model (re)insurer climate litigation risk. Section 2 of this report …

The insurance industry could potentially play a greater constructive role in mitigating climate risk by aligning with …

Climate risk impacts the insurance industry on both sides of the balance sheets. On the one hand, rising weather …

Rainfall is an important source of covariate shock in developing countries. Insurance against a rainfall index has …, therefore, held much promise as a formal insurance product to protect the livelihoods of poor farmers. But how good is rainfall … index insurance. Using district crop yields and rainfall data for India, we find that tail dependence characterizes the …