derives the optimal insurance contract as a single deductible insurance when the VaR constraint is redundant or as a double … deductible insurance when the VaR constraint is binding. Finally, this study discusses the optimal coverage level from common … forms of insurances, including deductible insurance, upper-limit insurance, and proportional coinsurance. Copyright Springer …

restrict the indemnity to be one of three common forms: a deductible policy, an upper-limit policy, or a policy with …