This paper looks for evidence of adverse selection in the relationship between primary insurers and reinsurers. We test the implications of a model in which informational asymmetry—and therefore, its negative consequences—decline over time. Our tests involve a data panel consisting of U.S. property-liability insurance firms that reported to the National Association of Insurance Commissioners during the period 1993–2012. We find that the amount of reinsurance, insurer profitability, and insurer credit quality all increase with the tenure of the insurer–reinsurer relationship.
本文在原保险人与再保险人的关系中寻找逆向选择的证据。我们测试了一个模型的含义，在这个模型中，信息不对称——因此，它的负面后果——随着时间的推移而下降。我们的测试涉及一个由美国财产责任保险公司组成的数据面板，这些公司在1993年至2012年期间向美国全国保险专员协会(National Association of insurance commissioner)报告。我们发现再保险金额、保险公司盈利能力和保险公司信用质量都随着再保险关系的持续时间而增加。
{"title":"Adverse Selection in Reinsurance Markets","authors":"J. R. Garven, James I. Hilliard, Martin Grace","doi":"10.2139/ssrn.1911614","DOIUrl":"https://doi.org/10.2139/ssrn.1911614","url":null,"abstract":"This paper looks for evidence of adverse selection in the relationship between primary insurers and reinsurers. We test the implications of a model in which informational asymmetry—and therefore, its negative consequences—decline over time. Our tests involve a data panel consisting of U.S. property-liability insurance firms that reported to the National Association of Insurance Commissioners during the period 1993–2012. We find that the amount of reinsurance, insurer profitability, and insurer credit quality all increase with the tenure of the insurer–reinsurer relationship.","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"39 1","pages":"222-253"},"PeriodicalIF":1.5,"publicationDate":"2014-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2139/ssrn.1911614","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67780970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Quality of After-Sales Services in a Competitive Insurance Sector","authors":"A. Fedele, P. Tedeschi","doi":"10.1057/grir.2014.3","DOIUrl":"https://doi.org/10.1057/grir.2014.3","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"40 1","pages":"65 - 88"},"PeriodicalIF":1.5,"publicationDate":"2014-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/grir.2014.3","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58581370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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{"title":"The Effect of Uncertainty on Optimal Control Models in the Neighbourhood of a Steady State","authors":"Miles S. Kimball","doi":"10.1057/grir.2014.4","DOIUrl":"https://doi.org/10.1057/grir.2014.4","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"39 1","pages":"2 - 39"},"PeriodicalIF":1.5,"publicationDate":"2014-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/grir.2014.4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58581767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rachel J. Huang, Alexander Muermann, Larry Y. Tzeng
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{"title":"Attitudes Towards Income Risk in the Presence of Quantity Constraints","authors":"F. Schroyen","doi":"10.1057/grir.2013.3","DOIUrl":"https://doi.org/10.1057/grir.2013.3","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"38 1","pages":"183 - 209"},"PeriodicalIF":1.5,"publicationDate":"2013-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/grir.2013.3","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58580374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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{"title":"An Examination of Adverse Selection in the Public Provision of Insurance","authors":"Randy Dumm, David L. Eckles, Martin Halek","doi":"10.1057/grir.2013.1","DOIUrl":"https://doi.org/10.1057/grir.2013.1","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"38 1","pages":"127 - 147"},"PeriodicalIF":1.5,"publicationDate":"2013-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/grir.2013.1","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58580314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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