Die heutige Cyberversicherung markiert das Ende einer Entwicklung, die zu Beginn der 1970er Jahre ihren Anfang genommen hat. Der Umfang der Deckung hat sich seit der Einführung der Cyberversicherung zu Beginn der 2010er Jahre kontinuierlich erweitert. Neu und insoweit innovativ ist die Aufnahme...

This paper is the first empirical study on adverse selection and moral hazard in the corporate disaster insurance market. By constructing and examining a unique plant-level panel dataset on the 2011 Thailand floods, we overcome the general lack of data that has previously prevented a systematic...

This paper provides stakeholders with a practical framework, informed by the recent experience with COVID-19, for defining a meaningful role for insurance in managing business interruption (BI) and other risks from future pandemics. The insurance industry will be part of that solution set,...

COVID-19 has demonstrated the challenges that policymakers, insurers, businesses, and employees face when disaster assistance programs are developed after the pandemic has already started. There is now an opportunity to design and implement effective and efficient solutions to manage the...

We analyze how pandemic business interruption coverage can be put in place by building on capitalization mechanisms. The pandemic risk cannot be mutualized since it affects simultaneously a large number of businesses, and furthermore, it has a systemic nature because it goes along with a severe...

We investigate how internal labor markets (ILMs) affect labor adjustments and performance in business groups. We show that group-affiliated units faced with positive shocks to growth opportunities rely on the ILM to ensure swift hiring, especially of managers and other high-skilled workers. A...

We present novel empirical evidence on the contractually mandated purchase of insurance by corporate creditors. In a large sample of private credit agreements of publicly-traded firms, we find that nearly all agreements contain at least a boilerplate provision requiring the borrower to purchase...

The COVID-19 pandemic and the measures taken to limit the spread of the disease have significantly disrupted economic activity in countries around the world, resulting in significant business interruption losses. The vast majority of these losses are likely to be absorbed by policyholders as,...

We investigate how Internal Labor Markets (ILMs) allow organizations to accommodate shocks calling for costly labor adjustments. Using data on workers' mobility within French business groups, we find that adverse shocks affecting affiliated firms boost the proportion of workers redeployed to...

Risikoidentifizierung und -klassifizierung -- Risikoanalyse und -bewertung -- Risikosteuerung -- Risikomanagement und Insurancemanagement -- Schaden- und Krisenmanagement -- Auswirkungen des Risikomanagements auf Bonität und Rating -- Digitalisierung und Risikomanagement -- Change Management...

With the onslaught of tornadoes, hurricanes, and floods in recent years, business interruption losses have been staggering. Many businesses do not survive such catastrophes. Even business owners that purchased business interruption insurance, which is intended to ensure that a business’s...

Defining global supply chain and enterprise risk management -- Global risk management -- Global trade risks -- Supply chain and logistics -- International insurance and global risk management -- Structuring a global supply chain risk management best practice strategy -- Appendix

We investigate the effect of firms' participation in an insurance scheme on the long-term sickness absence of their employees, using administrative records. In Denmark and several other European countries, firms are obliged to cover the first two weeks of sickness. The insurance scheme is...

The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a company by influencing both the cost of capital components and the need for rising capital. The problem is here perceived from two perspectives the classical concept related to...

We investigate the effect of firms' participation in an insurance scheme on the long-term sickness absence of their employees, using administrative records. In Denmark and several other European countries, firms are obliged to cover the first two weeks of sickness. The insurance scheme is...

D&O-Versicherung und Eigenschadendeckung -- Vorwort -- Inhaltsverzeichnis -- Gegenstand der Arbeit -- 1 Einführung in die D&O-Versicherung -- 1.1 Geschichte der D&O-Versicherung -- 1.2 Gegenstand der Versicherung -- 1.2.1 Side A -- 1.2.2 Side B -- 1.2.3 Side C -- 1.3 Abgrenzungsfragen -- 1.3.1...

In a paper in this journal, Schnabel and Roumi (1989) assert that if uninsured debt is risky, a levered firm takes a casualty insurance with a positive safety loading if, and only if, the amount of debt is sufficiently high. This note shows that, in marked contrast to this assertion, the correct...