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Risk Management and Insurance Review最新文献

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The curious case of Panama. 巴拿马的奇特案例。
Q3 Economics, Econometrics and Finance Pub Date : 2020-01-01 Epub Date: 2020-08-19 DOI: 10.1111/rmir.12153
Pablo J Gutierrez Fernandez
Abstract A small country in Central America offers some interesting ideas on how the insurance industry can handle the COVID‐19 pandemic and crisis.
中美洲一个小国就保险业如何应对COVID-19大流行和危机提供了一些有趣的想法。
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引用次数: 0
Pandemic risk: Impact, modeling, and transfer. 大流行风险:影响、建模和转移。
Q3 Economics, Econometrics and Finance Pub Date : 2020-01-01 Epub Date: 2020-11-26 DOI: 10.1111/rmir.12160
Joseph Qiu

COVID-19 has proven that pandemic risk deems to the type of catastrophe risk that needs to be treated seriously, by both society and the insurance industry. A key element to measure, manage, and transfer pandemic risk is the modeling capability. This paper first reviews the insured loss from COVID-19 and the impact on the insurance industry. Then, current pandemic risk modeling capabilities and how insurance industry uses these models are evaluated. Some suggestions are made in terms of how these models can be improved in the future and how they can assist in insuring the pandemic risk. Finally, the nonmodeling elements of pandemic risk transfer and the government's role are discussed.

COVID-19已经证明,大流行风险被认为是社会和保险业都需要认真对待的巨灾风险类型。衡量、管理和转移大流行风险的一个关键因素是建模能力。本文首先回顾了新型冠状病毒肺炎的保险损失及其对保险业的影响。然后,评估当前大流行风险建模能力以及保险业如何使用这些模型。就今后如何改进这些模型以及如何协助确保大流行风险提出了一些建议。最后,讨论了流行病风险转移的非建模因素和政府的作用。
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引用次数: 9
Two New Developments Hold Promise for the Private Flood Insurance Market 两项新发展为私人洪水保险市场带来希望
Q3 Economics, Econometrics and Finance Pub Date : 2019-03-01 DOI: 10.1111/RMIR.12117
Lisa K. Miller
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引用次数: 1
ARIA Membership Information ARIA会员信息
Q3 Economics, Econometrics and Finance Pub Date : 2019-03-01 DOI: 10.1111/rmir.12118
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引用次数: 0
On the Corporate Demand for Insurance: Evidence From the Global Reinsurance Market 企业保险需求:来自全球再保险市场的证据
Q3 Economics, Econometrics and Finance Pub Date : 2018-09-01 DOI: 10.1111/RMIR.12107
Muhammed Altuntas, J. R. Garven, Jannes Rauch
In this article, we view the demand for reinsurance as a “special case” of the corporate demand for insurance. We analyze the extent to which reinsurance purchases by the global property–liability insurance industry vary across countries and assess the relative importance of country‐level factors compared with firm‐level factors. Using a data set consisting of 21,814 firm‐year observations from 33 (developed and developing) countries during the period 2000–2012, we find that after controlling for firm‐level factors, country‐level factors have economically as well as statistically significant effects on the demand for reinsurance.
本文将再保险需求视为企业保险需求的一个“特例”。我们分析了全球财产责任保险业再保险购买在不同国家之间的差异程度,并评估了国家层面因素与公司层面因素的相对重要性。利用2000-2012年期间来自33个(发达国家和发展中国家)的21,814家公司的观测数据,我们发现在控制了公司层面的因素之后,国家层面的因素对再保险需求具有经济上和统计上的显著影响。
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引用次数: 15
Challenges in Applying Risk Management Concepts in Practice: A Perspective 在实践中应用风险管理概念的挑战:一个视角
Q3 Economics, Econometrics and Finance Pub Date : 2018-09-01 DOI: 10.1111/RMIR.12106
Annette Hofmann, N. Scordis
The existing concepts of risk management face challenges when applied in practice. The perception of risk depends on the observer's cognitive biases and worldview, which nuance risk‐related decisions. How an observer decides also depends on the metric used to quantify risk. While there is extensive literature on how people perceive risk, and on how to price risk in relation to the market, there is little on how to price risk according to how risks interact within the firm. The article concludes with a suggestion (and includes relevant citations) for a way forward.
现有的风险管理概念在实际应用中面临挑战。对风险的感知取决于观察者的认知偏差和世界观,这对风险相关的决策有细微的影响。观察者如何决定也取决于用于量化风险的度量。虽然关于人们如何感知风险以及如何根据市场对风险进行定价的文献很多,但关于如何根据风险在公司内部的相互作用对风险进行定价的文献却很少。文章最后提出了前进的建议(包括相关的引用)。
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引用次数: 2
The Effects of Customer Satisfaction on Company Profitability: Evidence From the Property and Casualty Insurance Industry 顾客满意度对公司盈利能力的影响:来自财产险行业的证据
Q3 Economics, Econometrics and Finance Pub Date : 2018-09-01 DOI: 10.1111/RMIR.12105
David M. Pooser, M. Browne
Prior literature presents a positive link between customer satisfaction and firms’ financial outcomes, including greater revenue, profitability, and prices. However, few studies approach the topic of customer satisfaction in the insurance industry. Using a unique data set obtained from J.D. Power, we observe customer satisfaction among U.S. auto insurers and link their customer satisfaction rating to insurer profitability metrics. Our results support the notion that greater customer satisfaction leads to reduced expenses and increased profitability. A potential explanation is that more satisfied customers are more likely to remain with an insurance company and refer others to the insurer, reducing customer acquisition expenses.
先前的文献提出了客户满意度和公司财务结果之间的积极联系,包括更高的收入、盈利能力和价格。然而,很少有研究接近保险行业客户满意度的话题。使用从J.D. Power获得的独特数据集,我们观察了美国汽车保险公司的客户满意度,并将他们的客户满意度评级与保险公司的盈利指标联系起来。我们的研究结果支持这样一种观点,即更高的客户满意度会降低成本,提高盈利能力。一个可能的解释是,更满意的客户更有可能留在保险公司,并将其他人介绍给保险公司,从而减少了获得客户的费用。
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引用次数: 16
Inherent Virtue or Inevitable Evil: The Effects of Directors' and Officers' Insurance on Firm Value 内在美德还是不可避免的邪恶:董事和高管保险对企业价值的影响
Q3 Economics, Econometrics and Finance Pub Date : 2018-09-01 DOI: 10.1111/RMIR.12104
Derrick W. H. Fung, Jason J. H. Yeh
Whether directors’ and officers’ (D&O) insurance improves firm value is a controversial issue. We perform a literature review about the effect of D&O insurance and find mixed results. The proponents of D&O insurance believe it enhances corporate monitoring and improves firm value, while the opponents of D&O insurance argue that it creates a moral hazard problem and diminishes firm value. Against this backdrop, we argue that the trade‐off between the monitoring and moral hazard effects depends on the information acquired by the outside directors. Using a sample of listed Canadian firms, we find that (1) a change in D&O insurance coverage has no net effect on a firm's subsequent value when we ignore the information acquired by outside directors, (2) an increase in D&O insurance coverage improves a firm's subsequent value when the outside directors are well informed, and (3) an increase in D&O insurance coverage reduces a firm's subsequent value when the outside directors are poorly informed. Our findings are robust to endogeneity checks and have important implications for the regulation of D&O insurance.
董事和高级管理人员保险是否提高了公司价值是一个有争议的问题。我们对D&O保险的影响进行了文献回顾,发现结果好坏参半。D&O保险的支持者认为它加强了公司监督,提高了公司价值,而D&O保险的反对者认为它造成了道德风险问题,降低了公司价值。在此背景下,我们认为监督和道德风险效应之间的权衡取决于外部董事获得的信息。以加拿大上市公司为样本,我们发现:(1)当我们忽略外部董事获取的信息时,董事和高级管理人员保险覆盖率的变化对公司的后续价值没有净影响;(2)当外部董事知情时,董事和高级管理人员保险覆盖率的增加提高了公司的后续价值;(3)当外部董事知情不足时,董事和高级管理人员保险覆盖率的增加降低了公司的后续价值。我们的研究结果是稳健的内生性检查,并有重要意义的董事和行政管理保险的监管。
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引用次数: 1
An Overview of the California Earthquake Authority 加州地震局概述
Q3 Economics, Econometrics and Finance Pub Date : 2018-03-01 DOI: 10.1111/RMIR.12097
D. Marshall
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引用次数: 16
Retirement Income Security: Challenges and Opportunities 退休收入保障:挑战与机遇
Q3 Economics, Econometrics and Finance Pub Date : 2014-03-01 DOI: 10.1111/RMIR.12020
R. Ferguson
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引用次数: 4
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Risk Management and Insurance Review
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