The paper analyzes a monopolistic insurer’s pricing strategies when potential customers differ in risk aversion and their type cannot be observed by the insurer. Our model builds on Schlesinger (1983), who derived optimal nonlinear pricing strategies for competitive and monopolistic insurance...

We analyze the changes in capital market risk measures following the passage of the Sarbanes-Oxley (SOX) Act of 2002 for publicly-traded insurers. The most substantive impact occurs for life insurers, who experience significant increases in all risk measures, although we also document...

This paper investigates the impact of socioeconomics within states with regard to retirement income using the numbers of OASDI Social Security beneficiaries from the Social Security Administration, data on annuity premium levels from the American Council of Life Insurers, and state-level U.S....

This paper explores the relationship between private group long-term disability (LTD) submitted claims incidence and the business cycle. While much of the recent literature connecting disability incidence to the economy tends to focus on employment conditions, we rigorously explore broader...

This paper provides both a qualitative and empirical analysis of insolvency experience in the Canadian property and casualty insurance industry. First, we provide a qualitative analysis of the differences between Canada and the U.S. that may help to explain the lower incidence of insolvency...

This paper discusses the most recent developments in insurance securitization and assesses the potential for growth in the insurance-linked securities (ILS) market and in insurance-linked derivatives. In particular, the authors analyze the motivations of security sponsors and investors to...

This paper characterizes the (weak-form) efficiency of the Toronto Stock Exchange (TSX) with respect to the life insurance sector in a post-demutualization context, using a methodology called cointegration analysis. The major conclusion that can be drawn from this analysis is that the Canadian...