Internet users such as individuals and organizations are subject to different types of epidemic risks such as worms, viruses, spams, and botnets. To reduce the probability of risk, an Internet user generally invests in traditional security mechanisms like anti-virus and anti-spam software, sometimes also known as self-defense mechanisms. However, such software does not completely eliminate risk...

We study the valuation and hedging of unit-linked life insurance contracts in a setting where mortality intensity is governed by a stochastic process. We focus on model risk arising from different specifications for the mortality intensity. To do so we assume that the mortality intensity is almost surely bounded under the statistical measure. Further, we restrict the equivalent martingale measu...

Recent works on Internet risk management have proposed the idea of cyber-insurance to eliminate risks due to security threats, which cannot be tackled through traditional means such as by using antivirus and antivirus softwares. In reality, an Internet user faces risks due to security attacks as well as risks due to non-security related failures (e.g., reliability faults in the form of hardware...

Risk theoretic analysis of capitation contracts suggests that capitation contracts are closely aligned to reinsurance contracts between insurance companies. Similarities and differences between these two forms of contractual instruments are reviewed, and several implications are discussed. Viewing capitation contracts as reinsurance contracts has implications that are incompatible with the over...

In pricing joint last survivor insurance policies, standard industry practice assumes independence of mortality rates among the insured and adds on loading factors to compensate for possible under-estimations of the joint last survivor mortality due to common life style, broken heart factor or common disaster. Considering the fact that the separate mortality experiences for males and females ar...

Within an asymmetric information set-up in which individuals di¤er in terms of their risk aversion and can choose whether or not to take preventative action, we illustrate in a uni…ed framework the equilibrium possibilities with stand-alone long-term care insurance and annuity contracts. With costs of administering insurance, so that insurance is unfair, we show the existence of an equilibrium ...

  According to statistics released by agricultural insurance fund (AIF) less than 4 million acres out of 90 million acres has been covered by Pastures Insurance. This observation along with several facts motivated authors to study possible barriers which Pastures Insurance has been encountered in practice. The research population included all the experts in agricultural insurance fund. Small po...