1 8.1 INTRODUCTION The efficiency and equity effects of risk classification in insurance markets have been a source of substantial debate, both amongst economists and in the public policy arena. 1 The primary concerns have been the adverse equity consequences for individuals who are categorized unfavorably, and the extent to which risk classification enhances efficiency in insurance contracting...

theoretically and empirically, it has been often argued that production uncertainty affects the farmers’ production efficiency. insurance can play an impactful role in reducing the uncertainty and, consequently, increasing the investment. using multilevel models, we examined the effect of agricultural insurance programs on investment in the agricultural sector of khorasan razavi province. the c...

This paper explores the efficiency of European specialist and composite insurers transacting long-term insurance business. Value measures of insurance company inputs and outputs are utilised to undertake an exploration of the technical efficiency of European insurers. This is achieved by benchmarking the relative performance of insurers licensed to transact long-term business in fifteen Europea...

INTRODUCTION This study investigates the efficiency gains of integrated care models in Switzerland, since these models are regarded as cost containment options in national social health insurance. These plans generate much lower average health care expenditure than the basic insurance plan. The question is, however, to what extent these total savings are due to the effects of selection and effi...

This paper argues that moderate unemployment insurance not only reduces the uncertainty faced by risk-averse workers but also improves efficiency and raises output. We develop a model in which the decentralized equilibrium is inefficient without unemployment insurance, because the labor market endogenously creates jobs that provide risk-averse workers with low unemployment risk and low wages. E...

Deregulation and widespread economic changes have fundamentally affected the business conditions of European life insurance companies over the last decades. In this paper, we apply multi-stage Data Envelopment Analysis to identify the impact of the changing environment on productivity and efficiency. Considering a sample of 960 life insurance companies from 14 European countries we show that in...

This paper provides an efficient union-firm bargaining solution within the right to manage framework, by separating efficiency and distributional considerations through bargaining over wage and non-wage benefits. We show that without insurance considerations, efficiency is achieved by equating the wage and workers’ opportunity cost and providing the union with a surplus share in accordance with...

This study explores the relationship between operational efficiencyand profitability and growth in the US life Insurance industry, and provides a frameworkfor linking operating performance and financial success.Earnings and growth have particular importance to life insurance companies;earnings and capital determine the viability of the insurer, while growth is paramount toth...