The assumption of dynamic lapse behavior is path-dependence related to the performance of underlying assets. This causes the pricing and reserving of investment guarantee products to be more difficult to deal with. The lack of actual experience of such policyholders’ behavior is also an...

In 2014, China will pilot its first earthquake insurance program, and the inhabitants’ perception of earthquake risk in the pilot area is significant for the implementation of this plan. In this study, the authors conducted a field survey in four districts in the insurance pilot area to...

This article employs jump-diffusion models, including the ARJI model and the GARCH-jump model, to examine jump intensity and volatility of Taiwan stock and foreign exchange markets during a Presidential election period. The empirical results indicate that, firstly, the ARJI model fits data...

U.S. property–liability insurance markets have displayed insurance cycles, with their swings in underwriting profits, for nearly a century. Various hypotheses have been developed to explain these fluctuations, as follows: financial pricing hypothesis, capacity constraint hypothesis, financial...