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Author : André Gron
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (62 download)
Download or read book Property-casualty Insurance Cycles, Capacity Constraints and Empirical Results written by André Gron and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anne Gron
Publisher :
ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.:/5 (243 download)
Download or read book Property-casualty Insurance Cycles, Capacity Constraints, and Empirical Results written by Anne Gron and published by . This book was released on 1990 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anne Gron
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (253 download)
Download or read book Capacity Constraints and Cycles in Property-casualty Insurance Markets written by Anne Gron and published by . This book was released on 1991 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ursina B. Meier
Publisher : Haupt Verlag AG
ISBN 13 : 3258071462
Total Pages : 170 pages
Book Rating : 4.2/5 (58 download)
Download or read book Existence and Causes of Insurance Cycles in Different Countries written by Ursina B. Meier and published by Haupt Verlag AG. This book was released on 2006 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Neil A. Doherty
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Insurance Cycles written by Neil A. Doherty and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Insurance profits exhibit cyclical behavior that has been attributed to capital market constraints. We show that changes in interest rates simultaneously affect the insurer's capital structure and the equilibrium underwriting profit. Depending upon asset and liability maturity structure, capital market access, and reinsurance availability, insurers will be differently affected by changing interest rates. We find that the average market response to changing interest rates roughly tracks market clearing prices. These quot;cyclicalquot; effects are enhanced for firms with mismatched assets and liabilities and more costly access to new capital and reinsurance. This evidence supports the capacity constraint hypothesis.
Author : Kaye D. James
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (774 download)
Download or read book Underwriting Cycles in the Property-casualty Insurance Industry written by Kaye D. James and published by . This book was released on 1980 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : J. David Cummins
Publisher : National Assn of Insurance
ISBN 13 : 9780893821807
Total Pages : 412 pages
Book Rating : 4.8/5 (218 download)
Download or read book Cycles and Crises in Property/casualty Insurance written by J. David Cummins and published by National Assn of Insurance. This book was released on 1991 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The NAIC provided grants to research teams from the University of Pennsylavania, the University of South Carolina and Stewart Economics for a study of the causes and policy implications of the cycles and crises in property/casualty insurance. The results of this research are compiled here with additional explanation by the editors.
Author : Ralph S.J. Koijen
Publisher : Princeton University Press
ISBN 13 : 0691193266
Total Pages : 208 pages
Book Rating : 4.6/5 (911 download)
Download or read book Financial Economics of Insurance written by Ralph S.J. Koijen and published by Princeton University Press. This book was released on 2023-04-04 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative and comprehensive graduate textbook on the modern insurance sector The traditional role of insurers is to insure idiosyncratic risk through products such as life annuities, life insurance, and health insurance. With the decline of private defined benefit plans and government pension plans around the world, insurers are increasingly taking on the role of insuring market risk through minimum return guarantees. Insurers also use more complex capital management tools such as derivatives, off-balance-sheet reinsurance, and securities lending. Financial Economics of Insurance provides a unified framework to study the impact of financial and regulatory frictions as well as imperfect competition on all insurer decisions. The book covers all facets of the modern insurance sector, guiding readers through its complexities with empirical facts, institutional details, and quantitative modeling. An up-to-date textbook for graduate students in economics, finance, and insurance Covers a broad range of topics, including insurance pricing, contract design, reinsurance, portfolio choice, and risk management Provides promising new directions for future research Can be taught in courses on asset pricing, corporate finance, industrial organization, and public economics An invaluable resource for policymakers seeking an empirical and institutional account of today’s insurance sector
Author : Yayuan Ren
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (129 download)
Download or read book Do Underwriting Cycles Affect Property Casualty Insurer Asset Allocation? Stocks Versus Mutuals written by Yayuan Ren and published by . This book was released on 2019 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study performs a time series analysis to explore the effects of property casualty insurance underwriting cycles on stock and mutual insurers' asset risk taking. It is well documented that underwriting costs and insolvency risks faced by insurers are greater in hard markets while lower in soft markets. To achieve optimal risk portfolios, insurers may take on more asset risks in soft markets and discharge them in hard markets. Moreover, we expect stock companies would be more reactive to underwriting cycles than are mutual companies given greater risk-taking capacity and better managerial-incentive-control mechanism of the stock companies. Our result confirms these conjectures. While stock companies are found actively responding to the underwriting cycle, mutual companies appear to be indolent. Another interesting finding is that property casualty insurers, both mutual and stock companies, do not actively respond to capital market signals.
Author : Bernard S. Black
Publisher : Cato Institute
ISBN 13 : 194864780X
Total Pages : 337 pages
Book Rating : 4.9/5 (486 download)
Download or read book Medical Malpractice Litigation written by Bernard S. Black and published by Cato Institute. This book was released on 2021-04-27 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Drawing on an unusually rich trove of data, the authors have refuted more politically convenient myths in one book than most academics do in a lifetime." —Nicholas Bagley, professor of law, University of Michigan Law School "Synthesizing decades of their own and others’ research on medical liability, the authors unravel what we know and don’t know about our medical malpractice system, why neither patients nor doctors are being rightly served, and what economics can teach us about the path forward." —Anupam B. Jena, Harvard Medical School Over the past 50 years, the United States experienced three major medical malpractice crises, each marked by dramatic increases in the cost of malpractice liability insurance. These crises fostered a vigorous politicized debate about the causes of the premium spikes, and the impact on access to care and defensive medicine. State legislatures responded to the premium spikes by enacting damages caps on non-economic, punitive, or total damages and Congress has periodically debated the merits of a federal cap on damages. However, the intense political debate has been marked by a shortage of evidence, as well as misstatements and overclaiming. The public is confused about answers to some basic questions. What caused the premium spikes? What effect did tort reform actually have? Did tort reform reduce frivolous litigation? Did tort reform actually improve access to health care or reduce defensive medicine? Both sides in the debate have strong opinions about these matters, but their positions are mostly talking points or are based on anecdotes. Medical Malpractice Litigation provides factual answers to these and other questions about the performance of the med mal system. The authors, all experts in the field and from across the political spectrum, provide an accessible, fact-based response to the questions ordinary Americans and policymakers have about the performance of the med mal litigation system.
Author : William M. Sage
Publisher : Cambridge University Press
ISBN 13 : 113945823X
Total Pages : 406 pages
Book Rating : 4.1/5 (394 download)
Download or read book Medical Malpractice and the U.S. Health Care System written by William M. Sage and published by Cambridge University Press. This book was released on 2006-06-12 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medical malpractice lawsuits are common and controversial in the United States. Since early 2002, doctors' insurance premiums for malpractice coverage have soared. As Congress and state governments debate laws intended to stabilize the cost of insurance, doctors continue to blame lawyers and lawyers continue to blame doctors and insurance companies. This book, which is the capstone of three years' comprehensive research funded by The Pew Charitable Trusts, goes well beyond the conventional debate over tort reform and connects medical liability to broader trends and goals in American health policy. Contributions from leading figures in health law and policy marshal the best available information, present new empirical evidence, and offer cutting-edge analysis of potential reforms involving patient safety, liability insurance and tort litigation.
Author : Georges Dionne
Publisher : Springer Science & Business Media
ISBN 13 : 9401006423
Total Pages : 980 pages
Book Rating : 4.4/5 (1 download)
Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 980 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1970's, the research agenda in insurance was dominated by optimal insurance coverage, security design, and equilibrium under conditions of imperfect information. The 1980's saw a growth of theoretical developments including non-expected utility, price volatility, retention capacity, the pricing and design of insurance contracts in the presence of multiple risks, and the liability insurance crisis. The empirical study of information problems, financial derivatives, and large losses due to catastrophic events dominated the research agenda in the 1990's. The Handbook of Insurance provides a single reference source on insurance for professors, researchers, graduate students, regulators, consultants, and practitioners, that reviews the research developments in insurance and its related fields that have occurred over the last thirty years. The book starts with the history and foundations of insurance theory and moves on to review asymmetric information, risk management and insurance pricing, and the industrial organization of insurance markets. The book ends with life insurance, pensions, and economic security. Each chapter has been written by a leading authority in insurance, all contributions have been peer reviewed, and each chapter can be read independently of the others.
Author : S. Hun Seog
Publisher : John Wiley & Sons
ISBN 13 : 140518552X
Total Pages : 353 pages
Book Rating : 4.4/5 (51 download)
Download or read book The Economics of Risk and Insurance written by S. Hun Seog and published by John Wiley & Sons. This book was released on 2010-03-15 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for advanced undergraduate and master’s level courses, this book builds from a base of asymmetric information issues to discuss a wide array of topics and is illustrated with some timely examples. Covers diverse issues such as risk aversion, expected utility, and moral hazard within the pure theory of insurance Provides a clear exposition of the necessary mathematics, a feature which cannot be found in readers on the topic Utilizes an undergraduate economics major level of math Uses the simplest economic models possible to keep the text intuitive Introduces more mathematically complex techniques such as basic optimization for students wishing to 'go further' in their analysis
Author :
Publisher :
ISBN 13 :
Total Pages : 612 pages
Book Rating : 4.:/5 (54 download)
Download or read book Working Paper Series written by and published by . This book was released on 1995 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Georges Dionne
Publisher : Springer Science & Business Media
ISBN 13 : 9401579571
Total Pages : 742 pages
Book Rating : 4.4/5 (15 download)
Download or read book Foundations of Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 742 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Author : Mark Machina
Publisher : Newnes
ISBN 13 : 0444536868
Total Pages : 897 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Author : Kenneth A. Froot
Publisher : University of Chicago Press
ISBN 13 : 0226266257
Total Pages : 490 pages
Book Rating : 4.2/5 (262 download)
Download or read book The Financing of Catastrophe Risk written by Kenneth A. Froot and published by University of Chicago Press. This book was released on 2007-12-01 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed $10 billion was unthinkable. With ever increasing property-casualty risks and unabated growth in hazard-prone areas, insurers and reinsurers now envision the possibility of disaster losses of $50 to $100 billion in the United States. Against this backdrop, the capitalization of the insurance and reinsurance industries has become a crucial concern. While it remains unlikely that a single event might entirely bankrupt these industries, a big catastrophe could place firms under severe stress, jeopardizing both policy holders and investors and causing profound ripple effects throughout the U.S. economy. The Financing of Catastrophe Risk assembles an impressive roster of experts from academia and industry to explore the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays offer tangible means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.
