Subjects -> BUSINESS AND ECONOMICS (Total: 3619 journals)
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    - ECONOMIC SYSTEMS, THEORIES AND HISTORY (252 journals)
    - FASHION AND CONSUMER TRENDS (20 journals)
    - HUMAN RESOURCES (85 journals)
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    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

INSURANCE (26 journals)

Showing 1 - 26 of 26 Journals sorted alphabetically
Annals of Actuarial Science     Full-text available via subscription   (Followers: 2)
Asia-Pacific Journal of Risk and Insurance     Hybrid Journal   (Followers: 7)
Assurances et gestion des risques     Full-text available via subscription  
Astin Bulletin     Full-text available via subscription   (Followers: 1)
Banks in Insurance Report     Hybrid Journal   (Followers: 1)
Blätter der DGVFM     Hybrid Journal   (Followers: 2)
British Actuarial Journal     Full-text available via subscription   (Followers: 1)
Geneva Papers on Risk and Insurance - Issues and Practice     Hybrid Journal   (Followers: 13)
Geneva Risk and Insurance Review     Hybrid Journal   (Followers: 7)
Health Affairs     Full-text available via subscription   (Followers: 80)
Insurance Markets and Companies     Open Access  
Insurance: Mathematics and Economics     Hybrid Journal   (Followers: 10)
International Journal of Business Continuity and Risk Management     Hybrid Journal   (Followers: 17)
International Journal of Forensic Engineering     Hybrid Journal   (Followers: 3)
International Journal of Forensic Engineering and Management     Hybrid Journal   (Followers: 3)
International Journal of Health Economics and Management     Hybrid Journal   (Followers: 13)
International Social Security Review     Hybrid Journal   (Followers: 8)
Journal for Labour Market Research     Open Access   (Followers: 9)
Journal of Derivatives & Hedge Funds     Hybrid Journal   (Followers: 9)
Journal of Risk and Insurance     Hybrid Journal   (Followers: 17)
Risk Management     Hybrid Journal   (Followers: 15)
Risk Management & Insurance Review     Hybrid Journal   (Followers: 10)
Scandinavian Actuarial Journal     Hybrid Journal   (Followers: 2)
SourceOECD Finance & Investment/Insurance & Pensions     Full-text available via subscription   (Followers: 3)
The Geneva Reports     Free   (Followers: 2)
Zeitschrift für die gesamte Versicherungswissenschaft     Hybrid Journal   (Followers: 1)
Similar Journals
Journal Cover
Geneva Papers on Risk and Insurance - Issues and Practice
Journal Prestige (SJR): 0.392
Citation Impact (citeScore): 1
Number of Followers: 13  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1018-5895 - ISSN (Online) 1468-0440
Published by Springer-Verlag Homepage  [2626 journals]
  • Microinsurance and household asset welfare in South Africa
    • Abstract: This paper examines the effect of microinsurance usage on household asset welfare, measured as asset accumulation index using a sample of 2006 households with access to formal non-banking and informal financial services from the 2015 FinScope Survey. Using the treatment effect and instrumental variable estimation techniques to account for endogeneity and selection biases, the empirical results support the hypothesis that microinsurance provides financial protection through asset accumulation to improve welfare. The findings are robust for different types of microinsurance products and weighted and unweighted asset accumulation indices. The policy implications of the findings are discussed.
      PubDate: 2020-11-20
       
  • The financial impact of the implementation of Solvency II on the Mexican
           insurance sector
    • Abstract: This paper examines the effects of the regulatory changes implemented in the Mexican insurance sector in adjustment to the international regulations of Solvency II imposed by the International Association of Insurance Supervisors. The effect of regulatory changes on the risk and performance levels of foreign entities was analysed and compared with their domestic counterparts. Using a difference-in-difference estimator, significant evidence that foreign insurance companies enhanced their default risk after complying with the law was found. The findings showed that the stability levels of domestic entities were negatively affected. No effect on the performance level for both types of entities was found. This study provides evidence that foreign entities were already prepared for the change in regulation, as opposed to domestic ones, due to their association with their foreign holdings.
      PubDate: 2020-11-13
       
  • Pricing dynamics in the market for catastrophe bonds
    • Abstract: We study the time variation of the market price of catastrophe (CAT) bonds for the period 1999–2016. While we find an overall decreasing trend in the price of expected loss risk, large catastrophes increase this price by 34% on average. Our empirical tests show that the latter effect is temporary and unlikely to be the byproduct of behavioural changes in investors’ perceptions about catastrophic risk, as previously argued. Instead, we find evidence that changes in the price of expected loss risk may be explained by changes in investor effective risk aversion, initiated by catastrophic events triggering CAT bond losses that could bring investors closer to their habit consumption levels and lead to a hard reinsurance market environment. Contagion effects from reinsurance markets are more relevant after main catastrophes given the levels of liquidity in the markets. Furthermore, contagion effects from financial markets are minor and only relevant during the subprime financial crisis, as documented in previous studies.
      PubDate: 2020-10-14
       
  • Societal trust, risk avoidance and corporate risk taking: evidence from
           the global insurance industry
    • Abstract: The global insurance industry is undergoing fundamental change, with countries that are classified as emerging economies (such as China and other countries in the Asia-Pacific region) playing increasingly important roles. In this article, we investigate the effect of two important dimensions of a country’s culture, societal trust and risk avoidance, on risk taking by insurance firms around the world between 2001 and 2014. We measure societal trust and risk avoidance using the World Value Survey. Our results indicate that there is a positive and significant association between the level of societal trust and insurer risk taking in a country, while there is a negative and significant association between the level of risk avoidance and insurer risk taking. We show that our main results are robust to changes in sample composition and potential bias related to the 2007–2009 global financial crisis. One possible concern is that insurer risk taking could be affected by many institutional and societal factors of a country that are not included in our regression analysis. To alleviate this concern, we use the two-stage least squares regression method with instrumental variables to address the potential endogeneity problem related to omitted variables, and find that our results remain unchanged. Additionally, we show that the negative relationship between risk avoidance and insurer risk taking still holds when we use alternative uncertainty avoidance measures.
      PubDate: 2020-10-14
       
  • Insurance definitions of cyber war
    • Abstract: Definitions of war found in cyber insurance policies provide a novel window into the concept of cyber war. Mediated by market forces, changes in policy wording reflect shifting expectations surrounding technology and military strategy. Legal cases contesting war clauses probe state-formulated narratives around war and offensive cyber operations. In a recent legal case, an insurer refused to pay a property insurance claim by arguing the cause of the claim—the NotPetya cyberattack—constitutes a hostile or warlike action. To understand the implications, we build a corpus of 56 cyber insurance policies. Longitudinal analysis reveals some specialist cyber insurance providers introduced policies without war clauses until as late as 2012. Recent years have seen war exclusions weakened as cyber insurance policies affirmatively cover “cyber terrorism”. However, these clauses provide few explicit definitions, rather they prompt a legal discourse in which evidence is presented and subjected to formal reasoning. Going forward, war clauses will evolve so insurers can better quantify and control the costs resulting from offensive cyber operations. This pushes insurers to affirmatively describe the circumstances in which cyber conflict is uninsurable.
      PubDate: 2020-10-01
       
  • Time-varying effects of cyberattacks on firm value
    • Abstract: This paper adds to research on the effect of cyber events on the attacked firm’s value in light of conflicting results from previous studies. Using 536 cyberattack announcements that occurred during the 2007–2016 period, the main goal is to investigate for changes in investor reaction over time as cyberattacks have become more frequent. Empirical evidence shows that cumulative abnormal returns of attacked firms were volatile earlier in the period, became increasingly negative, but have moderated recently. This paper proposes and discusses potential explanations for this observed U-shaped pattern over the 10-year period. The relation between stock market reaction and type of attack, type of data affected, type of perpetrator and various firm level characteristics is also examined.
      PubDate: 2020-10-01
       
  • Cyber risk cost and management in IoT devices-linked health insurance
    • Abstract: Internet of things (IoT) devices lead to innovation trends in financial services. Real-world IoT applications certainly further the surge in new financial product design. In the insurance industry, companies can utilise data collected from all types of IoT-connected devices to more effectively determine premiums and provide better insurance products, known as IoT insurance. However, this has a downside: insurance companies might underestimate the possible cyber risks involved in these IoT insurance products. This study examines the potential cyber risks arising from the application of IoT devices-linked insurance. We consider the cyber risks in insurance product valuation and estimate the possible increase in cyber risk cost as more data are sourced from IoT devices. Our results contribute to IoT devices-linked health insurance development and improvement in related cyber risk management.
      PubDate: 2020-10-01
       
  • Analysis of the impact of cyber events for cyber insurance
    • Abstract: The mass adoption of cyber insurance will be predicated on the ability to conduct quantitative cyber risk assessment. This capability is crucial for not only providing insight into the cost of targeted threats but also providing incentives for insured enterprises to invest in protection aimed at preventing exploitation of targeted threats. Research indicates that asymmetric information, correlated loss and interdependent security issues make this difficult if insurers cannot monitor the cybersecurity efforts of the insured enterprises. In this paper, we present an analysis of cyber impacts based on cyber incidents reported in the Advisen cyber loss data feed. We show: (i) how exposure to cyber incidents varies between corporate sectors; (ii) how the type of incident relates to the number of entities and individuals affected by it; (iii) how the type of incident relates to the eventual financial cost; (iv) what type of information is most frequently compromised; (v) a breakdown of the main actors behind cyber incidents; and (vi) how tree-based classifiers can be used to gain insight into cyber risk indicators affecting the cost of incidents.
      PubDate: 2020-10-01
       
  • Cyber insurance offering and performance: an analysis of the U.S. cyber
           insurance market
    • Abstract: This article examines the determinants of cyber insurance participation, the amount of coverage offered and the performance of current cyber insurers. Our results support the competitive advantage hypothesis, but only partially support the business growth constraint hypothesis. We find that insurers offer cyber insurance to capitalise on their competitive advantage in understanding and pricing cyber risks. In particular, professional surplus insurers and insurers with surplus insurer affiliation demonstrate a competitive advantage in cyber insurance participation. We find limited evidence that insurers participate in cyber insurance to compensate for constraints on business growth. In addition, the type (standalone or packaged) and amount of coverage offered vary substantially across firm characteristics. Standalone coverage incurs higher loss ratios than packaged coverage, demonstrating its riskier nature. Changes in cyber insurance loss ratios are not driven by premium growth but by claim frequency and severity growth, emphasising the significance of cyber insurance policy design.
      PubDate: 2020-10-01
       
  • Reinsurance, debt capacity and financial flexibility
    • Abstract: Prior studies conclude that hedging has a positive effect on firms’ debt capacity; however, in the present study, we argue that this relationship is moderated by their financial flexibility. Using statutory data from 2001 to 2016 from the National Association of Insurance Commissioners database on U.S. property and casualty insurers and a simultaneous equations model, we examine how financial flexibility moderates the effect of reinsurance—a risk management tool commonly used by insurance firms—on debt capacity. We find that the relationship between reinsurance usage and debt capacity is positive for financially inflexible insurers, but negative for their financially flexible counterparts, thereby suggesting that the effects of reinsurance are actually dependent upon the financial flexibility of insurers. Several robustness checks are conducted and our main results remain qualitatively unchanged.
      PubDate: 2020-09-28
       
  • Does economic policy uncertainty matter for insurance development'
           Evidence from 16 OECD countries
    • Abstract: We examine the influence of economic policy uncertainty (EPU) on the liveliness of local insurance markets across 16 OECD countries during the 1998–2017 period. Our static panel data estimations suggest that global policy uncertainty is negatively associated with the life insurance development of a country, as measured by national life insurance penetration (gross insurance premium per GDP in %). Meanwhile, such uncertainty does not significantly affect non-life insurance development in our sample. Furthermore, the analysis shows that the impacts of global EPU on life insurance markets are particularly stronger in periods of increasing EPU.
      PubDate: 2020-09-24
       
  • Correction to: Exposure to catastrophe risk and use of reinsurance: an
           empirical evaluation for the U.S.
    • Abstract: The authors would like to add the following Federal Reserve Bank disclosure and acknowledgement to their article: The opinions expressed here do not represent official positions of the Federal Reserve Bank of Chicago or the Federal Reserve System. We would like to thank Daniel Bauer, Daniel Hartley, Thomas King, Tyler Leverty, Andy Polacek and the participants in the Western Economic Association International 2016 annual conference for their comments.
      PubDate: 2020-09-23
       
  • Does new technology put an end to policyholder risk declaration' The
           impact of digitalisation on insurance relationships
    • Abstract: The availability of data from telematics and wearables enables insurers to design and price products based on more information about the consumer. As new technologies develop rapidly, it is worth looking more closely at the way digitalisation changes the nature of insurance relationships. The purpose of this paper is to analyse how technology influences risk assessment and the insurance contract. Particular interest will be given to the role of traditional risk declaration. The author claims it is possible to obtain a full risk profile based merely on the information provided by ‘smart’ devices. This raises the specific question of whether the traditional policyholder’s risk declaration is still needed. The paper also discusses whether the use of telematics will alter the nature of insurance relationships in such a way that the doctrine of utmost good faith will no longer apply, or will apply only to a limited extent.
      PubDate: 2020-09-18
       
  • Affirmative and silent cyber coverage in traditional insurance policies:
           Qualitative content analysis of selected insurance products from the
           German insurance market
    • Abstract: This paper examines the design of affirmative and silent coverage in view of the cyber risks in traditional insurance policies for select product lines on the German market. Given the novelty and complexity of the topic and the insufficient coverage in the literature, we use two different sources. We analysed the general insurance terms and conditions of different traditional insurance lines using Mayring’s qualitative content analysis. Also, we conducted interviews with experts from the German insurance industry to evaluate how insurers understand their silent cyber exposures, and what measures they take to deal with this new exposure. The study shows a considerable cyber liability risk potential for insurers in the considered insurance lines. This arises from the affirmative as well as silent cover inclusions and exclusions for cyber risks, which result from imprecise wordings of insurance clauses and insufficient descriptions of the contractually specified scope of the insurance coverage.
      PubDate: 2020-09-07
       
  • Exposure to catastrophe risk and use of reinsurance: an empirical
           evaluation for the U.S.
    • Abstract: Reinsurance has long been used for tail risk protection. There is ample anecdotal information from practitioners about this dimension of reinsurance. The subject, however, remains largely unexplored in the academic literature given the lack of data about non-proportional reinsurance contracts. We develop a novel approach to measure the use of non-proportional reinsurance and use it to disentangle reinsurance used for catastrophe risk protection from reinsurance used for other motivations, for example regulatory capital relief. Our findings rely on a new measure of catastrophe risk that has strong explanatory power about insurers’ behaviour towards risk beyond what has been captured by existing measures.
      PubDate: 2020-09-07
       
  • Correction to: Under pressure: investment behaviour of insurers under
           different financial and regulatory conditions
    • Abstract: In the first published version of this article the acknowledgements contained an error. The sentence ‘I would like to thank Joseph Comprix, Randell Elder, Susan Albring, Craig Nichols, William Horrace, Tyler Leverty, Norma Nielson, Dara Marshall, Lamont Black, Stephani Mason, Phebian L. Davis-Culler, Noelle Butski and Menna Bizuneh and worship participants at West Virginia University, New Mexico State University, DePaul University, Miami University.’ was replaced with the sentence ‘I would like to thank Joseph Comprix, Randell Elder, Susan Albring, Craig Nichols, William Horrace, Tyler Leverty, Norma Nielson, Dara Marshall, Lamont Black, Stephani Mason, Phebian L. Davis-Culler, Noelle Butski and Menna Bizuneh and workshop participants at West Virginia University, New Mexico State University, DePaul University, Miami University.’
      PubDate: 2020-09-03
       
  • Cyber insurance demand, supply, contracts and cases
    • PubDate: 2020-08-26
       
  • Non-life insurance cancellation: a systematic quantitative literature
           review
    • Abstract: The purpose of this paper is to provide an overall picture of the current investigation of insurance cancellation in the non-life business, taking into consideration the influence of intermediaries on customers’ decisions using the systematic quantitative literature review method. This article identifies the most important factors that explain switching behaviour in non-life insurance. It also highlights the impact and responsibility of insurance companies’ marketing strategies and tactics on insurance policy cancellations and customer churn. This research contributes to increasing scientific knowledge on insurance cancellation in the non-life business and to the development of actions to retain customers, with a higher level of effectiveness, improving the results of insurance companies and the performance of the industry.
      PubDate: 2020-08-24
       
  • Cyber assets at risk: monetary impact of U.S. personally identifiable
           information mega data breaches
    • Abstract: This study investigates various factors that can affect the monetary impact of data breaches on companies. This paper introduces a model for the total cost of a mega data breach based on a data set created from multiple sources that categorises stolen data for U.S. residents as personally identifiable information (PII) and sensitive personally identifiable information (SPII). We use a rigorous stepwise regression analysis that includes polynomial and factorial multilevel effects of the independent variables. There are three significant findings. First, our model finds a significant relation between total data breach cost and revenue, the total amount of PII and SPII, and class action lawsuits. Second, the categorisation of personal information as sensitive and non-sensitive explains the cost better than previous work. Finally, all of the independent variables demonstrate multilevel factorial interactions.
      PubDate: 2020-07-31
       
  • IT service outage cost: case study and implications for cyber insurance
    • Abstract: Today, almost all enterprises are highly dependent on IT services. Thus, high availability IT services and the cost of downtime have received a lot of attention in recent years. One increasingly used tool for cyber risk management and transfer is cyber insurance, which typically offers some form of business interruption coverage. However, cost structures of IT service outages are still poorly understood, as costs are often just reported as lump sums. This article contributes a multiple case study of IT service outage cost in three sectors in Sweden: transport companies ( \(N=11\) ), food companies ( \(N=9\) ) and government agencies ( \(N=19\) ). The contribution is three-fold: (i) the measurement instrument itself, (ii) the insights into different cost structures gained, and (iii) the implications of different cost structures on availability investment strategies. Whereas some enterprises incur only a fixed outage cost, some incur (almost) only lost productivity or almost only lost revenue. In the public sector, lost revenue is often negligible. The results are further contextualised by a discussion of cyber insurance implications.
      PubDate: 2020-07-16
       
 
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