The Response of Bond Prices to Insurer Ratings ChangesThe Geneva Papers on Risk and Insurance - Issues and Practice - Tập 39 - Trang 389-413 - 2013
Hong Miao, Sanjay Ramchander, Tianyang Wang
This paper examines the impact of insurer ratings changes on bond prices. Using insurer ratings from four major rating agencies and data covering the recent financial crisis period, we document that downgrades have a strong negative price impact on bond prices, especially when the downgrades are reinforced by multiple agencies. In contrast, the announcement-day impact of upgrades is found to be we...... hiện toàn bộ
EditorialThe Geneva Papers on Risk and Insurance - Issues and Practice - - 2014
Thomas C. Buchmueller, Christophe Courbage
Diversification Versus Strategic Focus: Evidence from Insurance Intermediaries in TaiwanThe Geneva Papers on Risk and Insurance - Issues and Practice - Tập 42 - Trang 530-555 - 2017
Jin Lung Peng, Lih Ru Chen, Jennifer L. Wang, Larry Y. Tzeng
Using a unique data-set, we examined how different business strategies used by insurance intermediaries in Taiwan affect their efficiency and productivity. Previous work in this area has focused on the efficiency and productivity of insurance companies using different distribution channels or selling different product lines. Our primary emphasis was on the efficiency and productivity of insurance ...... hiện toàn bộ
Determinants of Household Demand for Insurance: The Case of KoreaThe Geneva Papers on Risk and Insurance - Issues and Practice - Tập 35 - Trang S82-S91 - 2010
Soon-Jae Lee, Soon Il Kwon, Seok Young Chung
This article analyses the effect of household characteristics on the demand for insurance using consumer survey data in Korea. Using Tobit analysis, we have found that the self-employed have a stronger demand for insurance than salaried workers, and that residents of small cities and rural areas purchase more protection-type insurance than metropolitan residents. Demand for insurance can differ de...... hiện toàn bộ
A Proposal for Redesigning Social Security: Long-Term Care PensionThe Geneva Papers on Risk and Insurance - Issues and Practice - Tập 41 - Trang 98-117 - 2015
Shuji Tanaka
I propose to replace the automatic adjustment system of pension benefits, embedded in the 2004 reform of the Japanese public pension scheme, with one providing for specific required care levels and thus assure the logical financial adjustment of long-term care insurance and public pensions. For this purpose, I introduce a multi-state Markov chain model and estimate the transition matrix combining ...... hiện toàn bộ