I examine whether individuals' subjective unemployment expectations and self-insurance behavior are systematically related to unemployment experiences within their social networks. Using a combination of survey-elicited subjective unemployment expectations and Danish administrative data, I...

As the cyber insurance market is expanding and cyber insurance policies continue to mature, the potential of including pre-incident and post-incident services into cyber policies is being recognised by insurers and insurance buyers. This work addresses the question of how such services should be...

In the aftermath of the 1997-98 Asian crises, many emerging markets self-insured by accumulating international reserves (i.e., non-contingent assets) in excess of what many models predicted, while relying relatively little on state-contingent assets. This apparent over-reliance on self-insurance...

This paper examines how digital finance development affects household risk sharing in China. We provide convincing evidence that households that experience idiosyncratic negative shocks on income growth exhibit a disproportionally lower level of reduction in idiosyncratic consumption growth in...

Risk management decisions provide a means to elicit individuals' risk preferences empirically. In such a context, the literature often presumes that the decision to invest in risk management and the benefit of this investment occur contemporaneously. There is, however, no consensus in the...

This article is intended to provide a basic set of frequently asked questions on captive insurance companies. The questions are in no way meant to be exhaustive on the subject, but rather solely cover certain basic uniform questions potential captive insurance company owners need to ask before...

How do households respond to job loss, and which self-insurance channels are most important? By linking customer data from the largest bank in Denmark with information from government administrative registers, we quantify a broad range of responses to job loss in a unified empirical framework....

We examine evidence from two unique discrete choice experiments (DCE) on long term care insurance and several of its relevant attributes, and more specifically, choices made by 15,298 individuals in the United States with and without insurance. We study the valuation of the following insurance...

Extensive attention has been given to countries that run current account deficits, but little attention has been devoted to understanding why countries run large surpluses. This is surprising given that unsustainable international imbalances result from one as much as the other. We begin with a...

We examine evidence from two unique discrete choice experiments (DCE) on long term care insurance and several of its relevant attributes, and more specifically, choices made by 15,298 individuals in the United States with and without insurance. We study the valuation of the following insurance...

Extensive attention has been given to countries that run current account deficits, but little attention has been devoted to understanding why countries run large surpluses. This is surprising given that unsustainable international imbalances result from one as much as the other. We begin with a...

Following up on Prof; Beckett G. Cantley' presentation at BYU on the current abuses he's seen related to Internal Revenue Code (“IRC”) 831(b) Captive Insurance Companies (“CIC”), this memorandum (“memo”) summarizes some of his published law review articles in the area. There seems to...

Large U.S. companies have been forming captive insurance companies since the 1950s. In general, such large captives are formed for one of three main reasons. First, some companies are unable to obtain necessary insurance coverage. For example, certain nuclear power companies formed a captive...

Over the last decade, the use of Captive Insurance Companies ("CIC") has expanded from large entities to smaller, closely held companies when utilize the IRC 831(b) election. Correspondingly, the IRS has expanded its review of CIC arrangements, specifically targeting those CIC arrangements that...