Guaranteed renewability is a prominent feature in many health and life insurance markets. It is well established in the … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

) shows that this constraint might well bind: insured could get higher expected utility if insurance contracts would allow … optimal insurance contract he derives underestimates the relevance of the non-negativity constraint on indemnities. This paper …

Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others … have shown long time ago. Interestingly, the same design of insurance policies applies in case of a single loss and ex …-ante moral hazard. However, many insurance policies provide coverage against a variety of losses and the possibilities for the …

in self-protection implies that, in equilibrium, individuals underinvest in self-protection. Limiting insurance coverage … through deductibles or selling 'at-fault' insurance can partially internalize this externality and thereby improve individual …

on their application to insurance. This is followed with observations on the lack of appreciation of probability studies …

that standard insurance is useful to manage small and medium oil spills, while investments on financial markets help to … increases when insurance is combined with a financial hedging strategy. This positive effect on prevention is further enhanced …

appropriate hedging mechanisms. As standard insurance is shown to be too limited for the coverage of oil spills, we high- light …

and the firm's ownership structure, lines of insurance, advertising policy, size, geographic concentration, and cost …

This paper uses longitudinal data to perform tests of asymmetric information in the French automobile insurance market …).We demonstrate that the result of the test depends crucially on how the dynamic process between insurance claims and contract choice …

in self-protection implies that, in equilibrium, individuals underinvest in self-protection. Limiting insurance coverage … through deductibles or selling at-fault insurance can partially internalize this externality and thereby improve individual …