Malinovskii, Vsevolod K. - In: Insurance: Mathematics and Economics 51 (2012) 3, pp. 599-616
In insurance two major types of cycles are known: (a) regular many years long up- and down-swings referred to as underwriting cycles and (b) irregular short-range fluctuations. The key rationale of the underwriting cycles is migration of insureds triggered by the insurers’ price competition...