Diese Studie untersucht die Entwicklung der Assekuranz in den letzten 30 Jahren und gibt einen Ausblick auf zukünftige Trends in der Branche. Während sich einige der in früheren Studien prognostizierten Entwicklungen, wie die Internationalisierung und Konsolidierung, bestätigt haben,...

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...

We propose a method for calibrating high-dimensional parameters in the Hull-White one-factor model using market prices of swaptions, aimed at generating mark-to-market interest rate scenarios in the Korean insurance industry. Our approach integrates a trust region-based Bayesian optimization...

Recently, advocacy for gender diversity in corporate governance has intensified, following the hypothesis that heterogeneous boards can optimize management processes and improve financial performance. Existing literature primarily focuses on the banking or financial industry, with limited...

Purpose - The purpose of this paper is to report on how the barriers that prevent or hinder the applicability of artificial intelligence (AI) impact its use in an insurance company. Design/methodology/approach - Through bibliographic research, this paper maps the literature to identify the...

This paper empirically explores the early development of insurance projects in the decentralized finance (DeFi) industry, which is based on disruptive technologies like blockchain and smart contracts. A brief history of DeFi is narrated stressing four risks of DeFi (volatility risk, cyberattack...

We document a novel transmission channel of monetary policy through the homeowners insurance market. On average, contractionary monetary policy shocks result in higher homeowners insurance prices. Using granular data on insurers' balance sheets, we show that this effect is driven by the...

We argue that capital misallocation arises endogenously due to incomplete consumption insurance. We model risk-averse entrepreneurs with heterogeneous productivity who face idiosyncratic output shocks and choose how much capital to rent before uncertainty unfolds. We show that incomplete markets...

Global events and geopolitical upheavals, from the COVID-19 pandemic to the US-China trade conflict and Russia-Ukraine war, have propelled the world towards geoeconomic fragmentation. This trend is exemplified by shifts away from free trade and globally integrated supply chains in favour of...

In this paper, we address the identification and estimation of insurance models where insurees have private information about their risk and risk aversion. The model includes random damages and allows for several claims, while insurees choose from a finite number of coverages. We show that the...

Der Investitionsbedarf für die Transformation zu einer klimaneutralen Wirtschaft in Europa wird von der Europäischen Kommission in der Basisvariante auf jährlich 7% bis 8% des Bruttoinlandsproduktes geschätzt. Die Versicherungswirtschaft kann die Transformation in erster Linie durch eine...

We study the role of life insurers in the transmission of US monetary policy. Insurers have uniquely long-term liabilities. We posit that they face a trade-off between matching liability duration exposure by investing in long-term government debt and earning higher yields by shifting to...

Extreme weather has profoundly affected countries across South America (SA), given the importance of the agricultural sector for the economies. However, these effects have not yet been properly measured. In our study, we construct a unique dataset of high-frequency satellite data on temperature,...

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,...

Diese Studie untersucht die Entwicklung der Assekuranz in den letzten 30 Jahren und gibt einen Ausblick auf zukünftige Trends in der Branche. Während sich einige der in früheren Studien prognostizierten Entwicklungen, wie die Internationalisierung und Konsolidierung, bestätigt haben,...

Ob der Versicherungsnehmer effektiv aus einer Versicherung geschützt ist, hängt auch davon ab, ob in einem allfälligen Prozess der Nachweis des Eintritts des Versicherungsfalls gelingt. Im Versicherungsrecht stellen sich daher häufig Fragen des Beweismaßes, der Beweislast und der...

Although the relationship between ESG performance and firm performance has been the subject of several studies, the nonlinear relationship between ESG performance and the corporate performance of insurance companies remains less explored, specifically in the Middle East, North Africa, and Turkey...