In 2003, Canada's federal prudential regulator modified the capital adequacy test for property/casualty insurers to better align regulatory surplus with firm risk. We explore the impact of this change on the level and determination of insurers' surplus holdings. We find that firms have not...

Insurance is a key risk sharing mechanism that protects citizens and governments from the losses caused by natural catastrophes. Given the increase in the frequency and intensity of natural catastrophes over recent years, this paper analyzes the performance effects of mega-catastrophes for U.S....

The object of the current research is the insurance of intellectual property in the light of its very essence and the overall frame in which it exists and develops worldwide. There are two problematic issues on this topic, from which various other problems, with less importance but still...