This study examines the geographical spillover of the state-level average homeowners insurance cost for 48 US contiguous states. We estimate a panel spatial Durbin model with state and year fixed effect for data between 2001 and 2018. We found a significant positive spillover of average...

In response to private insurers' postwar withdrawal from urban neighborhoods, roughly half of US states developed programs in the late 1960s that offered residual property insurance to property owners denied in the private market. These plans, known as Fair Access to Insurance Requirements...

In response to private insurers' postwar withdrawal from urban neighborhoods, roughly half of US states developed programs in the late 1960s that offered residual property insurance to property owners denied in the private market. These plans, known as Fair Access to Insurance Requirements...

IFRS 17 introduces the concept of a risk adjustment that compensates insurers for the uncertainty about the amount and timing of the cash flows that arise from non-financial risks. The method for its calculation is not prescribed and several options are emerging, including value at risk and cost...

This report analyzes the difference between mergers and acquisitions (M&As) of target insurers in the US life and non-life insurance sectors. We first document M&A transactions in the US insurance market between 1990 and 2022 and select the M&A transactions related to US target insurers. We then...

Homeowners need easily understandable information about insurance policies in order to evaluate their current coverage and to shop effectively for insurance. But insurance is the only product for which consumers don’t know what they are buying before they buy it. Insurance companies almost...

In this paper, we developed a Shiny-based application called AutoReserve. This application serves as a tool used for a variety of types of loss reserving. The primary target audience of the app is personal auto actuaries, who are professionals in the insurance industry specializing in assessing...

The object of the current research is the insurance of intellectual property in the light of its very essence and the overall frame in which it exists and develops worldwide. There are two problematic issues on this topic, from which various other problems, with less importance but still...

In the past few years the insurance community has paid increasing attention to the concept of “protection gaps”—the extent to which significant losses are not covered by insurance. Homeowners insurance is a key area in which these discussions have occurred, particularly as natural...

The demand for insurance, notably home and property insurance in Nigeria, is unresearched and ignored, coupled with the low level of patronage and penetration rate amidst the numerous insurance scheme to boost the performance of the insurance industry. This study, therefore, contributes to the...

Key methodologies used for managing weather risks have relied on the assumption that climate is not changing and that the historic weather record is therefore representative of current risks. Anthropogenic climate change upends this assumption, effectively reducing the information available to...

We develop a new dataset to study homeowners insurance. Our data on over 47 million observations of households' property insurance expenditures from 2014-2023 are inferred from mortgage escrow payments. First, we find a sharp 33% increase in average premiums from 2020 to 2023 (13% in real terms)...

As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to aid recovery when disasters strike. To perform these functions efficiently, insurers need to access high quality information about disaster risk and set prices that accurately...

In the past 25 years, computer scientists and statisticians developed machine learning algorithms capable of modeling highly nonlinear transformations and interactions of input features. While actuaries use GLMs frequently in practice, only in the past few years have they begun studying these...

We hypothesize that, in their annual accounting reports, insurers allocate premiums and losses from multistate policies to reduce total state taxes. To test this prediction, we examine firm-level data, collected from the publicly-available statutory reports used to compute tax bases and filed...

This research paper indicates the latest situation in the insurance market about real property insurance after fires. It emphasizes the function of insurance in the economic development of the Azerbaijan economy. The primary aim of this research is to analyze the current state of the real...

Investors may under-diversify their portfolios by overweighting securities in which they perceive an informational advantage or by underweighting securities to hedge risks outside the portfolio. We investigate under-diversification in institutional portfolio construction by examining the...

In the past 25 years, computer scientists and statisticians developed machine learning algorithms capable of modeling highly non-linear transformations and interactions of input features. While actuaries use GLMs frequently in practice, only in the past few years have they begun studying these...

This article introduces a novel use of the vine copula which captures dependence among multi-line claim triangles, especially when an insurance portfolio consists of more than two lines of business. First, we suggest a way to choose an optimal joint loss development model for multiple lines of...

The aim of this paper is to analyze the level of development of the insurance market in the two Western Balkan countries that have asymmetrical developmental, economic, social, security and insurance markets levels. This asymmetry of development and the insurance market is of interest to be...

The aim of this paper is to analyze the level of development of the insurance market in the two Western Balkan countries that have asymmetrical developmental, economic, social, security and insurance markets levels. This asymmetry of development and the insurance market is of interest to be...

In the past few years the insurance community has paid increasing attention to the “protection gap”—the extent to which significant property losses are not covered by insurance. Because insurance plays an important economic and social role in many ways, the protection gap is significant to...