We discuss plausible locations of radiating regions in the magnetospheres of pulsars and argue that the mechanisms of pulsar radiation at different frequencies are closely connected with the locations of the radiating regions, especially in the radio range. If the region that is responsible for the bulk of the non-thermal radiation at some frequency is localized in the pulsar magnetosphere then...

Previous research on health and life insurers' financial investments has highlighted the tension between profit maximization and the public good. We ascertained health and life insurance firms' holdings in the fast food industry, an industry that is increasingly understood to negatively impact public health. Insurers own $1.88 billion of stock in the 5 leading fast food companies. We argue that...

We consider a risk process modelled as a compound Poisson process. The ruin probability of this risk process is minimized by the choice of a suitable investment strategy for a capital market index. The optimal strategy is computed using the Bellman equation. We prove the existence of a smooth solution and a verification theorem, and give explicit solutions in some cases with exponential claim s...

This paper studies the economic implications of ambiguous correlation in a non-zero-sum game between two insurers. We establish the general framework of Nash equilibrium for the coupled optimization problems. For the constant absolute risk aversion (CARA) insurers, we show that the equilibrium reinsurance strategies admit closed-form solutions. Our results indicate that the ambiguous correlatio...

This paper addresses the interesting question whether people’s trust in health insurers affects their willingness to accept restrictions on the provider network contracted by health insurers. This topic is particularly relevant for countries in which consumers can chose among different health insurers that are allowed to selectively contract with health care providers. The analysis is sound and...

Insurers have significant flexibility in the management of claims process and degree to which they prioritize collection salvage subrogation. These decisions could materially impact financial well-being insurers as well prices paid by consumers. Given potential implications that subrogation can for insurers, consumers, regulators, we investigate relation between speed at U.S. property-liability...

The main trust of this paper is to explore the inter-company variations in persistency experience for a sample of 99 U.K. life insurers, using data collected and published by the U.K. financial services regulator. Our first objective is to ascertain whether the undoubted differences in persistency among U.K. long-term insurers are random in nature (as opposed to having some systematic features)...