发布求助
文献互助 智能选刊 最新文献

Journal of Risk and Insurance最新文献

筛选
英文 中文
Catastrophe risk in a stochastic multi-population mortality model 随机多人口死亡率模型中的灾难风险
IF 2.1 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-04-18 DOI: 10.1111/jori.12470
Jens Robben, Katrien Antonio
{"title":"Catastrophe risk in a stochastic multi-population mortality model","authors":"Jens Robben,&nbsp;Katrien Antonio","doi":"10.1111/jori.12470","DOIUrl":"10.1111/jori.12470","url":null,"abstract":"<p>This paper incorporates mortality shocks in the scenarios for future mortality rates produced by a stochastic multi-population mortality model. Hereto, the proposed model combines a decreasing stochastic mortality trend with a mechanism that switches between regimes of low and high volatility. During the high volatility regimes, mortality shocks occur that last from one to several years and temporarily impact the mortality rates before returning to the overall mortality trend. Furthermore, we account for the age-specific impact of these mortality shocks on mortality rates. Actuaries and risk managers can tailor this scenario generator to their specific needs, risk management objectives, or supervisory requirements. The generated scenarios allow (re)insurers, policymakers, or actuaries to evaluate the effects of different catastrophe risk scenarios on, for example, the calculation of solvency capital requirements.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 3","pages":"599-651"},"PeriodicalIF":2.1,"publicationDate":"2024-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140627210","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Abandoning disaster relief and stimulating insurance demand through premium subsidies 放弃救灾，通过保费补贴刺激保险需求
IF 1.9 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-04-18 DOI: 10.1111/jori.12467
Tim Philippi, Jörg Schiller
{"title":"Abandoning disaster relief and stimulating insurance demand through premium subsidies","authors":"Tim Philippi,&nbsp;Jörg Schiller","doi":"10.1111/jori.12467","DOIUrl":"10.1111/jori.12467","url":null,"abstract":"<p>Premium subsidies can be used to address low demand for natural hazard insurance when it is partly caused by governmental disaster relief payments. We analyze how the introduction of ex ante premium subsidies affects the frost insurance demand of German winegrowers after the government changed insurance regimes to avoid ex post disaster relief payments. We find that the implementation of a premium subsidy in an immature market with low levels of participation, presumably caused by strong anticipation of disaster relief, is effective in increasing overall frost insurance demand. Receiving disaster relief payments 3 years before the introduction of the subsidy seems to make farmers more responsive toward the premium subsidy.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 2","pages":"339-382"},"PeriodicalIF":1.9,"publicationDate":"2024-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jori.12467","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140627215","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Improving household and community disaster recovery: Evidence on the role of insurance 改善家庭和社区灾后恢复：保险作用的证据
IF 1.9 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-04-15 DOI: 10.1111/jori.12466
Xuesong You, Carolyn Kousky
{"title":"Improving household and community disaster recovery: Evidence on the role of insurance","authors":"Xuesong You,&nbsp;Carolyn Kousky","doi":"10.1111/jori.12466","DOIUrl":"10.1111/jori.12466","url":null,"abstract":"<p>We study the role of insurance in improving household and community disaster recovery. Our analysis harnesses both a unique survey of residents impacted by four land-falling hurricanes in the United States and foot traffic data on visits to local businesses. Households sort into two groups when it comes to financing recovery: those primarily using property insurance and those largely uninsured, instead relying more on friends and family. Insurance improves households' ability to participate in the local economy. Postflood visitation rates to many local businesses increase with greater flood insurance take-up rates. Expanded participation in the local economy is consistent with insurance reducing financial constraints; indeed, insured households are less likely to report experiencing high financial burdens in both the short and longer-run postdisaster and are less likely to have unmet funding needs. Despite this, motivating the purchase of disaster insurance remains challenging, particularly among low-income households who perceive insurance as less useful.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 2","pages":"299-338"},"PeriodicalIF":1.9,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140560300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Who can see it coming? Demand-side selection in long-term care insurance related to decision-making abilities 谁能预见未来？与决策能力相关的长期护理保险需求方选择
IF 2.1 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-04-11 DOI: 10.1111/jori.12465
Timo R. Lambregts, Frederik T. Schut
{"title":"Who can see it coming? Demand-side selection in long-term care insurance related to decision-making abilities","authors":"Timo R. Lambregts,&nbsp;Frederik T. Schut","doi":"10.1111/jori.12465","DOIUrl":"10.1111/jori.12465","url":null,"abstract":"<p>Despite the growing demand for long-term care (LTC), the uptake of private LTC insurance (LTCI) is low and even declining in the United States. One reason is the complexity of LTCI decisions. Researchers have therefore suggested to support decision-making abilities. This paper shows, however, that such support would not unambiguously enhance functioning of the LTCI market. We analyze whether selection arises from two correlated but different decision-making abilities at old age, education and numeracy, and interactions thereof with private information. Using historical data from the Health and Retirement Survey we find that education generates adverse selection, which is only partially offset by advantageous selection due to numeracy. In addition, individuals with greater decision-making abilities make better LTCI choices, amplifying selection by education and numeracy. This points at a trade-off between decision simplicity and selection in insurance markets and suggests other steps are needed to enhance the performance of private LTCI markets.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 3","pages":"697-719"},"PeriodicalIF":2.1,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jori.12465","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140560488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Workers' moral hazard and private insurer effort in disability insurance 工人的道德风险和私营保险公司在伤残保险方面的努力
IF 2.1 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-03-16 DOI: 10.1111/jori.12464
Pierre Koning, Max van Lent
{"title":"Workers' moral hazard and private insurer effort in disability insurance","authors":"Pierre Koning,&nbsp;Max van Lent","doi":"10.1111/jori.12464","DOIUrl":"10.1111/jori.12464","url":null,"abstract":"<p>While it is well known that supplementary private Disability Insurance (DI) has the potential to increase workers' moral hazard, the extra coverage may also increase incentives for private insurers to reduce caseloads by means of prevention and reintegration activities. With unique administrative data on DI contracts of firms in the Netherlands, this paper aims to disentangle these worker and insurer responses to increased coverage. Supplementary insurance increases the insurers' incentive to lower disability risks, but in our setting it also creates an incentive for the insurers to facilitate partial work resumption of disabled workers who have earnings capacity. Using firm- and time-fixed effects models on the absence and employment rates, we find that insurer effort counteracts workers' moral hazard.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 4","pages":"1049-1088"},"PeriodicalIF":2.1,"publicationDate":"2024-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jori.12464","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140148809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Issue Information: Journal of Risk and Insurance 1/2024 期刊信息：风险与保险》杂志 1/2024
IF 1.9 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-02-21 DOI: 10.1111/jori.12462
{"title":"Issue Information: Journal of Risk and Insurance 1/2024","authors":"","doi":"10.1111/jori.12462","DOIUrl":"https://doi.org/10.1111/jori.12462","url":null,"abstract":"","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 1","pages":"1-3"},"PeriodicalIF":1.9,"publicationDate":"2024-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jori.12462","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139915626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
More options, more problems? Lost in the health insurance maze 更多选择，更多问题？迷失在医疗保险迷宫中
IF 1.9 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-02-13 DOI: 10.1111/jori.12461
Christian Biener, Lan Zou
{"title":"More options, more problems? Lost in the health insurance maze","authors":"Christian Biener,&nbsp;Lan Zou","doi":"10.1111/jori.12461","DOIUrl":"10.1111/jori.12461","url":null,"abstract":"<p>While the opportunity to choose from a diverse range of options can be advantageous, consumers often struggle to make optimal decisions in the domain of health insurance. In this study, we examine the effects of decision aids on improving choice optimality in a health insurance setting that allows for variations in coverage but is standardized otherwise. While this relatively simplistic setting theoretically implies optimal conditions for observing large fractions of optimal choices, we observe widespread adoption of non-welfare-maximizing plans, with at least 36% of the population winding up with suboptimal insurance plans. In a hypothetical-choice survey experimental setting, we estimate the treatment effects of increasing transparency through information provision and restricting choice on choice optimality. We find that decision quality cannot be improved meaningfully by our interventions and that nonoptimal choice is economically relevant, as it accounts for an increase of approximately 9.4% in total annual cost.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 1","pages":"5-35"},"PeriodicalIF":1.9,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jori.12461","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139841579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Multiperiod peer-to-peer risk sharing 多期点对点风险分担
IF 2.1 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-02-05 DOI: 10.1111/jori.12460
Samal Abdikerimova, Tim J. Boonen, Runhuan Feng
{"title":"Multiperiod peer-to-peer risk sharing","authors":"Samal Abdikerimova,&nbsp;Tim J. Boonen,&nbsp;Runhuan Feng","doi":"10.1111/jori.12460","DOIUrl":"10.1111/jori.12460","url":null,"abstract":"<p>Risk sharing has been practiced in various forms in the financial industry. This paper is the first to study both dynamic and static risk-sharing mechanisms for a group of participants over multiple periods. The design of risk-sharing strategies is based on the Pareto optimization of quadratic utilities of participants' reserves. Such a framework builds a connection between portfolio optimization in the finance literature and that for risk sharing in the insurance literature. Building on the most common form of reinsurance—pro rata treaties, we propose a peer-to-peer (P2P) network for risk sharing. Assuming independent multivariate losses over time, we find that the optimal risk-sharing allocation exhibits a three-component structure with the long-term limit and two correction terms. This allows us to show convergence of the risk-sharing solution and the ratios of long-term reserves. Furthermore, we study the impact of actuarial fairness on various risk-sharing strategies and their long-term limits.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 4","pages":"943-982"},"PeriodicalIF":2.1,"publicationDate":"2024-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139757883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Availability of the seat belt defense: Implications for auto liability insurance 安全带抗辩的可用性：对汽车责任保险的影响
IF 1.9 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-01-16 DOI: 10.1111/jori.12458
Patricia Born, J. Bradley Karl, Charles Nyce
{"title":"Availability of the seat belt defense: Implications for auto liability insurance","authors":"Patricia Born,&nbsp;J. Bradley Karl,&nbsp;Charles Nyce","doi":"10.1111/jori.12458","DOIUrl":"10.1111/jori.12458","url":null,"abstract":"<p>A “seat belt defense” allows a defendant in a third-party auto liability event to present evidence of seat belt nonuse to reduce a plaintiff's recovery. When successfully applied, the defense has a direct effect on reducing liability payouts by insurers for accidents. Our analysis reveals that seat belt defense laws are associated with a 10% reduction in auto claims costs, which equates to a reduction in loss costs of approximately $14 per insured vehicle. We find little evidence that the defense reduces accident frequency and no evidence that the defense affects seat belt usage. The lack of a deterrent effect on driving behavior suggests that the availability of the defense is not salient to drivers. The reduction in loss costs supports the notion that defense lawyers are aware of the defense and make use of it. The resulting effect of lowering insurance payouts may alleviate increasing auto insurance costs.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 1","pages":"193-212"},"PeriodicalIF":1.9,"publicationDate":"2024-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139496471","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A behavioral gap in survival beliefs 生存信念的行为差距
IF 1.9 3区 经济学
Journal of Risk and Insurance Pub Date : 2024-01-16 DOI: 10.1111/jori.12459
Giovanna Apicella, Enrico G. De Giorgi
{"title":"A behavioral gap in survival beliefs","authors":"Giovanna Apicella,&nbsp;Enrico G. De Giorgi","doi":"10.1111/jori.12459","DOIUrl":"10.1111/jori.12459","url":null,"abstract":"<p>Life span uncertainty (longevity risk) impacts several economic decisions. Individuals can form and revise their survival beliefs making use of behavioral heuristics. We propose a model of sentiment, in which individuals are assumed to switch between optimistic and pessimistic expectations of their health. When optimism is persistent in the face of health shocks, or when individuals are more likely to change their sentiment from pessimistic to optimistic than otherwise, our model predicts survival underestimation at young ages and overestimation at old ages. An empirical analysis based on the longitudinal data from Survey of Health, Ageing and Retirement in Europe validates our model.</p>","PeriodicalId":51440,"journal":{"name":"Journal of Risk and Insurance","volume":"91 1","pages":"213-247"},"PeriodicalIF":1.9,"publicationDate":"2024-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139496474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信