Subjects -> BUSINESS AND ECONOMICS (Total: 3853 journals)
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INSURANCE (26 journals)

Showing 1 - 27 of 27 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: 10)
Journal of Derivatives & Hedge Funds     Hybrid Journal   (Followers: 9)
Journal of Risk and Insurance     Hybrid Journal   (Followers: 17)
Journal of Risk Finance     Hybrid Journal   (Followers: 6)
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  [2656 journals]
  • Does insurance demand react to economic policy uncertainty and
           geopolitical risk' Evidence from Saudi Arabia
    • Abstract: This study investigates the potential effect of economic policy uncertainty, geopolitical risk, non-oil output, inflation and corporate governance features on insurance companies in Saudi Arabia using quarterly data over the period 2013–2019. More specifically, we apply estimation method panel autoregressive distributed lag (ARDL) to model the long- and short-term relationships. Our empirical results reveal negative short-term effects of geopolitical risk and uncertainty about government economic policy on insurance demand. However, the effect of the latter is not permanent. Our results support the assumed ‘demand following theory’ in the long-term, which, in turn, is an indication of the fact that the demand for insurance policies is dependent on economic growth and more susceptible to inflation. Our evidence shows that corporate governance has a significant effect on insurance demand in the long term, whereas a Shariah board has no significant impact.
      PubDate: 2021-04-23
       
  • Awareness of climate risks and opportunities: empirical evidence on
           determinants and value from the U.S. and European insurance industry
    • Abstract: In this paper, we study the awareness of European and U.S. insurance companies of climate-related risks and opportunities using a respective indicator from the Refinitiv Eikon database that uses reporting data. Based on this, we examine the determinants and value of the awareness of business risks and opportunities resulting from climate change, which, to the best of our knowledge, has not been done so far, despite its increasing and specific relevance for the insurance industry. We use a logistic regression analysis as well as a linear fixed effects model for a 10-year period from 2009 to 2018. Our results show that larger European insurers are significantly more likely to exhibit such awareness. When controlling for subsectors, property & casualty insurers tend to be aware of the risks and opportunities resulting from climate change. Moreover, when using the linear fixed effects model, we find a statistically significant positive value effect on Tobin’s Q.
      PubDate: 2021-04-22
       
  • Vulnerability and mutual insurance
    • Abstract: Vulnerability comes, according to Orio Giarini, with two risks: human-made risks, also called entrepreneurial risks, and natural or pure risks such as accidents and earthquakes. Both types of risk are growing in dimension and are increasingly interrelated. To control the vulnerability, sophisticated insurance products are called for. Here, mutual insurance is relevant, in particular when risks are large, probabilities uncertain or unknown, and events interrelated or correlated. In this paper the following three examples are discussed and the advantages of mutual insurance are shown: unknown probabilities connected with unforeseeable events, correlated risks and macroeconomic or demographic risks.
      PubDate: 2021-04-22
       
  • Homage to Orio Giarini and a summary of Four Pillars Research Programme
    • PubDate: 2021-04-14
       
  • Habit persistence reduces risk aversion
    • Abstract: How does habit formation affect the dynamic demand for insurance and risky assets' We examine a dynamic portfolio-saving choice problem for two structures of preferences. In the first model, the consumer faces an exogenous path of minimum levels of subsistence over time. In the second model, these levels are subject to habit persistence, i.e. they are increasing in past consumption. We show that adding habit persistence to the initial model substantially reduces the aversion to risk. The intuition is that the positive correlation between current portfolio returns and future levels of subsistence helps time-diversifying risks. This result goes against the widespread idea that habit persistence can resolve the equity premium puzzle.
      PubDate: 2021-04-12
       
  • On the financial superiority of Medicaid specialist insurers: a novel
           transactions cost/supply chain approach
    • Abstract: From 2002 to 2016, U.S. health insurers specialising in Medicaid financially outperformed health insurers specialising in other populations (i.e. groups, individuals, Medicare and federal employees). For this robust finding we developed a novel methodology incorporating transactions cost economics theory with supply chain performance models. The novel approach regards the insured populations as products supplied to health insurers (‘buyers’) in a supply chain. The populations are the ‘indigent’, ‘elderly’, ‘employed’ etc. Each has different care utilisation frequencies of encounters, admissions to hospitals and days in hospital, as well as severities of expenses, contractual arrangements and transaction costs advantages. The population attributes act on return on capital (ROC) through their differential interactions with insurer (buyer) attributes. The results suggest that Medicaid specialist insurers, with their extensive involvement with indigents, have the easiest pathways toward ROC optimisation by tweaking benefits, premiums and administrative expenses, which proxy transaction cost advantages.
      PubDate: 2021-04-08
       
  • Connecting the world’s risk and insurance communities: why
           research-based dialogue is more important than ever
    • PubDate: 2021-04-08
       
  • Bridging the gap between risk and uncertainty in insurance
    • Abstract: This contribution evokes Orio Giarini’s courage to think ‘outside the box’. It proposes a practical way to bridge the gap between risk (where probabilities of occurrence are fully known) and uncertainty (where these probabilities are unknown). However, in the context of insurance, neither extreme applies: the risk type of a newly enrolled customer is not fully known, loss distributions (especially their tails) are difficult to estimate with sufficient precision, the diversification properties of a block of policies acquired from another company can be assessed only to an approximation, and rates of return on investment depend on decisions of central banks that cannot be predicted too well. This contribution revolves around the launch of an innovative insurance product, where the company has a notion of whether a favourable market reception is more likely than an unfavourable one, of the chance of obtaining approval from the regulatory authority and the risk of a competitor launching a similar innovation. Linear partial information theory is proposed and applied as a particular practical way to systematically exploit the imprecise information that may exist for all of these aspects. The decision-making criterion is maxEmin, an intuitive modification of the maximin rule known from games against nature.
      PubDate: 2021-04-07
       
  • Local religious beliefs and insurance companies’ risk-taking
           behaviour
    • Abstract: We empirically examine the effect of local religious beliefs on the risk-taking behaviour of U.S. life insurers headquartered in that region. We distinguish between insurers that predominantly write annuities and insurers that predominantly write life insurance policies; the annuity business is relatively riskier than writing life insurance. Insurers headquartered in high-Catholic or low-Protestant areas are more likely to be annuity writers. Annuity writers located in high-Catholic or low-Protestant areas invest more in risky assets and exhibit higher investment return volatilities, as well as a higher volatility of their return on assets. Overall, our results suggest that local culture has significant influences on life insurers’ behaviour.
      PubDate: 2021-04-06
       
  • Fingerspitzengefühl
    • Abstract: Orio Giarini spent a life working on insurance, growth, wealth and technology. His work was deeply influenced by a famous Austrian novel, namely The Man without Qualities authored by Robert Musil. In this novel, a so-called Secretariat of Soul and Precision plays an important role. Musil's Secretariat turns out to be a remarkable prism through which Orio Giarini's many contributions can be deciphered. In the following text, I submit the hypothesis, among other ideas, that Orio Giarini had a very early intuition on two important and related notions, namely ergodicity and path dependence, whose consequences are still not fully understood in economics. Ergodicity and path dependence are indeed critical when one aims at bringing more precision to soul and more soul to precision.
      PubDate: 2021-04-06
       
  • Special issue of The Geneva Papers in memory of Orio Giarini
    • PubDate: 2021-03-31
       
  • An appreciation of Orio Giarini: first Secretary General of the Geneva
           Association
    • PubDate: 2021-03-29
       
  • A tribute to Dr Vittorio (Orio) Giarini, 31 January 1936–28 February
           2020. A great European and a close friend
    • PubDate: 2021-03-29
       
  • Determinants and challenges of supplying microlife insurance in Ghana
    • Abstract: The mass adoption of microlife insurance products among low-income earners in Ghana is based on the increased risks to livelihoods normally neglected by mainstream insurance. Microlife insurance is crucial for not only providing insurable coverage for the cost of targeted threats to low-income earners but also providing incentives for anyone who seeks protection against economic losses. In this study, a holistic analysis of the determinants and challenges of supplying microlife insurance in Ghana is carried out using factor analysis with principal component analysis. Primary data were sourced from 193 respondents related to the development of microlife insurance products. Out of 20 critical determinants extracted for the supply of microlife insurance products, four principal groups/components were established. They include affordable but profit-oriented products, active consideration of consumer-oriented conditions, strong internal position and controls, and favourable external factors. Further, 39 challenges associated with supplying microlife insurance products were identified and divided into five major groups: poor premium income, asymmetric information, weak internal systems, increased industry-related challenges and unfavourable external factors. The findings could serve as a checklist for microlife insurers to develop measures to sustain microlife insurance products while they mitigate obstacles to improve net profits from products. The results could also stimulate dialogue within the insurance industry as well as the research community on advancing microlife insurance to support the general populace. However, the article is limited in scope and so caution must be exercised in generalising the application of the findings.
      PubDate: 2021-03-26
       
  • Insurance and foreign direct investment: a review (or lack) of evidence
    • Abstract: Foreign participation in insurance markets is related to various streams of literature, including foreign direct investment (FDI) and international trade in insurance services. Only a few papers have examined the potential role of FDI in insurance services. Similar to the banking literature, some papers have explained the factors contributing to foreign entry in a single country or the determinants of FDI-preferred locations. Other papers have examined the impact of foreign entry on the host country sector or the relationship with insurance development and insurance market activities. Our purpose is to review the empirical literature on the relationship between FDI and insurance services.
      PubDate: 2021-03-22
       
  • The costs and benefits of reinsurance
    • Abstract: Purchasing reinsurance reduces insurers’ insolvency risk by stabilising loss experience, increasing capacity, limiting liability on specific risks and/or protecting against catastrophes. Consequently, purchasing reinsurance should reduce capital costs. However, transferring risk to reinsurers is expensive. The cost of reinsurance for an insurer can be much larger than the actuarial price of the risk transferred. In this article, we analyse empirically the costs and the benefits of reinsurance for a sample of U.S. property–liability insurers. The results show that the purchase of reinsurance significantly increases insurers’ costs but significantly reduces the volatility of the loss ratio. With purchasing reinsurance, insurers accept to pay higher costs of insurance production to reduce their underwriting risk.
      PubDate: 2021-03-22
       
  • Tribute to Orio
    • PubDate: 2021-03-18
       
  • Vulnerabilities and resilience in insurance investing: studying the
           COVID-19 pandemic
    • Abstract: The COVID-19 crisis has major impacted the insurance industry in three dimensions: business operations, underwriting and claims and insurance investing. This paper will analyse the implications for insurance investing. We start by showing the impact of the severe drawdown in the equity markets during the initial phase of the crisis in March/April 2020 on a typical insurer’s balance sheet. We then look at the effects of the dislocations in fixed income, which make up the largest share of exposures in insurance companies’ portfolios. We track the performance of investment grade credit during the year while paying special attention to the impact of downgrades on insurers’ solvency capital. We finally study alternative investments with particular focus on private markets. These investments are a faster-growing part of insurance companies’ exposures and pose specific challenges as they are complex, more difficult to access, have limited liquidity and are often harder to price, especially during times of high market volatility. Yet, compared to their equivalent public market exposures, private investments provide additional income, which allows insurers to charge lower rates on their products to policyholders. As the sophistication and complexity of investments keep growing, companies as well as regulators need to find a good balance between policyholder protection and market efficiency.
      PubDate: 2021-03-18
       
  • Model assessment of public–private partnership flood insurance systems:
           an empirical study of Japan
    • Abstract: The public–private partnership (or PPP) system is widely hailed as an effective approach to flood insurance. PPP effectiveness can be empirically demonstrated through an analytic framework based on model assessment, which we apply to Japan as an illustrative case study. We first introduce the widely-observed market failure phenomenon in the catastrophe insurance sector and how PPP systems may serve to avert this failure. We then proceed to select three candidate systems and model them respectively. Subsequently, we employ empirical data and Monte Carlo simulations to evaluate suitability for Japan’s case via three perspectives. The results identified the market-oriented system as the economically-optimal choice. It should be noted, however, that the assessment is dependent on the priorities of each party and market-negotiated results. We find this methodology to be suitable for identifying the most adequate PPP system and invite policymakers to consider its use when implementing their own systems.
      PubDate: 2021-03-12
       
  • Examining the effects of agricultural income insurance on farmers in
           Burkina Faso
    • Abstract: In this paper, we examine the effectiveness of income insurance as a tool to increase the financial resilience of smallholder farmers when faced with joint yield and price risks. We applied the optimisation method to national and regional data on maize yields and prices in Burkina Faso during the period 1995 to 2015. Our results show that income insurance generates significant risk reduction at a lower cost than other programmes such as index insurance or warrantage.
      PubDate: 2021-03-05
       
 
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