This paper investigates the dynamic interdependencies between the European insurance sector and key financial markets-equity, bond, and banking-by extending the Generalized Forecast Error Variance Decomposition framework to a broad set of performance and risk indicators. Our empirical analysis,...

Das Segment der Kleinunternehmen, dem Unternehmen mit bis zu 49 Mitarbeitern angehören, wird von 70% der befragten Schweizer Schaden- und Lebensversicherungsunternehmen als wichtige strategische Zielgruppe in der Geschäftsentwicklung betrachtet. Trotz dieser Bedeutung wurde bisher...

Sustainability transformation has gained traction across industries worldwide. Given their critical risk exposure, this transformation is of extreme precarity to the insurance industry. Yet, literature lacks a comprehensive approach for the development of a sustainability strategy covering the...

Investment and insurance constitute pivotal subjects in financial management, especially in an era characterized by inflation. Unit-Linked Insurance Plans (ULIPs), with a unique combination of investment risks and insurance protection, potentially trigger distinct psychological processes that...

This paper examines the potential role of higher education subsidies as an insurance device against the risk of having a short life, that is, as a device reducing the variance in lifetime well-being due to unequal longevities. We use a two-period dynamic OLG economy with human capital and risky...

Purpose: The purpose of this study is to evaluate profit earning capacity of insurance companies in Bangladesh and to identify both company specific and macro-economic factors that influence the profitability. Design/methodology/approach: This study uses panel data collected on 21 insurance...

In the psychological and sociological framework of risk, we establish a static and dynamic equilibrium model for risk-sharing institutional evolution. Particularly, through a comparative study of marine insurance development in China and Europe, we address a wide set of research questions...

In this paper, we introduce a model to study the interaction between insurance and banking. We build on the Federal Crop Insurance Act of 1980, which significantly expanded and restructured the decades-old federal crop insurance program and adverse weather shocks - over-exposure of crops to heat...

In an era of the overlapping effects of the Covid pandemic and the conflict in Ukraine, it is worth taking a closer look at the markets that focus on risk management, that is, the insurance market, in terms of its further organization and development. The aim of the paper is to examine how the...

Background: This study aims to examine the impact of different healthcare payment systems, specifically salary and fee-for-service (FFS) models, on service provision, patient welfare, and quality of care. The influence of payment models on healthcare delivery and patient outcomes, as well as how...

Using 20 years of nationally representative panel data in South Korea, we estimate how life satisfaction responds to income shocks. We document that unexpected income changes significantly impact an individual's life satisfaction, and the magnitudes depend on the persistence of income shocks. We...

Insurance companies can be exposed to climate-related physical risk through their operations and to transition risk through their $12 trillion of financial asset holdings. We assess the climate risk exposure of property and casualty (P&C) and life insurance companies in the U.S. We construct a...

Climate-related physical risks pose serious concerns for both public and private finances, and it is of utmost importance to contain economic losses when natural catastrophes occur. In this context, the paper models the potential economic impact of currently uninsured floods in the EU. It also...

Catastrophic natural events in the Czech Republic have always caused a considerable burden on public finance. However, this risk can be transferred to capital market investors through CAT bonds, which have never been used for this purpose in the Czech Republic. The paper deals with the...

Gender diversity in the board has recently become the most intensely deliberated and scrutinized corporate governance aspect, especially its linkage with various corporate economic outcomes following numerous corporate scandals as a results of weak governance mechanisms. This empirical work...

This open access book explores the history of risk management in medieval and early modern European maritime business, focusing particularly on 'General Average' - a mechanism by which extraordinary expenses regarding ship or cargo, incurred during a voyage to save the venture, are shared...

This article studies insurance demand in a two-period framework in which an individual faces risks in both current and future periods. Models for insurance with and without the presence of endogenous saving are both discussed. In contrast to what most literature suggests, when decisions on...

Accurate forecasting of insurance claims is of the utmost importance for insurance activity as the evolution of claims determines cash outflows and the pricing, and thus the profitability, of the underlying insurance coverage. These are used as inputs when the insurance company drafts its...

The study examines the impact of the insurance market on economic complexity in 28 OECD nations within a period of 1995-2020. The study also examines whether the impact of life insurance on economic complexity would be different from that of the non-life insurance sector within the insurance...