Mortgage payment protection insurance (hereafter MPPI) provides varying combinations of accident, sickness and unemployment insurance and is used to protect the mortgage payments of policyholders in the event of a fall in income. Despite alleviating many housing market failures, this service has been heavily criticised for providing poor value for money and for being associated with unhelpful s...

How do markets spread risk when events are unknown or unknowable and where not anticipated in an insurance contract? While the policyholder can “hold up” the insurer for extra contractual payments, the continuing gains from trade on a single contract are often too small to yield useful coverage. By acting as a repository of the reputations of the parties, we show the brokers provide a coordinat...

Theoretical studies on the e¤ect of life settlement market on consumer welfare show that it crucially depend on the reasons for the lapsation of life insurance policies: if lapsation is purely due to the loss of bequest motives by the policyholders, then life settlement is shown to be detrimental to consumer welfare in equilibrium; on the other hand, if lapsation results from liquidity shocks, ...

Commonly cited causes of the crisis include the high number of lawyers in the United States, increasing litigiousness of society, juries which side with victims rather than uncaring big business, and the growing technological complexity of society (Huber 1987). Notably absent from such accounts are explanations relating to the management practices of insurers themselves. Why are there so many t...

The COVID-19 pandemic and the measures taken to limit spread of disease have significantly disrupted economic activity in countries around world, resulting significant business interruption losses. vast majority these losses are likely be absorbed by policyholders as, unless governments (or courts) intervene, few companies coverage that is respond types – exposing existence an important protect...

Abstract We study how the presence of dependencies between risks in a population prospective insurance customers translates into risk exposure for an company, depending on company’s market share various risks. It turns out that dependency structure insurer’s portfolio may differ significantly from those general population, even when policyholders different are selected independently. obtain upp...

Insurance is referred to as probabilistic when policyholders are exposed to contract nonperformance risk, that is, claims are not reimbursed by the insurer. We extend probabilistic insurance models to allow for ambiguity regarding contract nonperformance and loss probabilities. We empirically test theoretical predictions from our model within a field lab experiment in a low-income setting. This...

Moral hazard in natural disaster insurance markets has the effect that policyholders prepare less for disasters, which increases the risk they face. However, moral hazard may not arise due to high risk aversion of insured individuals and/or the inherent insurance market context. We offer a comprehensive empirical study of the relation between disaster risk reduction and insurance coverage to as...

A cross-sectional study was conducted with individuals of both sexes (20-59 years of age), all covered by the COOPERSINOS Health Care Plan of Vale do Rio dos Sinos University. The study aimed to determine the prevalence of lower back pain and associated factors in the previous three months. A self-applied questionnaire included socioeconomic, demographic, occupational, and lifestyle questions. ...