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Insurance regulators, policyholders, and investors are interested in the ability of insurers to fulfill their financial obligations. Economic and finance theory suggests that, all else equal, more efficient firms should be financially stronger firms. Efficiency scores represent a quantitative...

Public opinion plays an important role in affecting policy outcomes. Additionally, risk plays an equally important role in decision making (economic and noneconomic). Yet, we know little about how individuals incorporate risk when forming attitudes on public policy issues. When asked to give an...

This study analyzes the impact of diversification and focus strategies on firms targeted for acquisitions. Based on a sample of acquisitions of property-liability insurers from 1993 to 1997, the study centers on two major questions: (1) whether the diversification or focus decision of the...

This study empirically examines properties of matched-pair versus non matched- pair sampling methods in the context of financial distress for the U.S. life insurance industry. While the majority of prior insurer insolvency studies employed matched-pair sampling techniques to identify important...

This study extends previous research on service quality in the private passenger automobile insurance industry by providing empirical evidence using an improved proxy for the value of service. The endogeneity of the value of service is recognized and treated statistically with the two-stage...

PCS Catastrophe Insurance Options were released in 1995 as a means of providing property and casualty insurers with a method of hedging catastrophe exposures. The options are based on the Property Claims Services Office (PCS) index of catastrophe losses. Due to the fact that the underlying index...