Journal of Risk and Insurance

This academic risk management and insurance journal provides research in industrial organization of insurance markets, management of risks in the private and public sectors, insurance regulation and more.

Articles from Vol. 60, No. 4, December

An International Analysis of Life Insurance Demand
Introduction The service sector of the world economy has grown substantially since World War II. In 1989, the service sector accounted for approximately 60 percent of the world's gross domestic product (United Nations Conference on Trade and Development,...
Bank Capitalization, Deposit Insurance, and Risk Categorization
Introduction Recent proposals to reform bank deposit insurance have suggested a linking of premiums to observable variables that reflect underlying bank risk, yet the economics of such insurance are not well understood (see, for example, Kane, 1985,...
Consumer Information and Decisions to Switch Insurers
Introduction Undoubtedly, there is no other product for which consumer ignorance is so prevalent. Many consumers are unaware that there are price differences among insurance companies.... Comparative price shopping is very difficult since price differences...
Permanent Partial Disability in Workers' Compensation: Probability and Costs
Introduction Workers' compensation costs, as a percentage of covered payroll, have more than doubled since 1960, rising from 0.93 percent in that year to 2.15 percent in 1988. These increased costs have been attributed to changes in workers' compensation...
Pitfalls of the Current Experience Rating Plan
Introduction Workers' compensation insurance is the largest line of commercial casualty insurance in the United States and the oldest for which standard rating approaches have been developed. The principal statistical and ratemaking body, the National...
The Underinvestment Problem, Bond Covenants, and Insurance
Introduction The underinvestment problem has been well known in finance since the appearance of Myers's (1977) seminal work on "The Determinants of Corporate Borrowing." Myers considers a situation in which the firm has an outstanding bond issue now...
Workers' Compensation for Occupational Disease: Prorating Liability versus Last Employer Liability
Introduction Occupational disability problems have been expanded to include not only safety concerns with job-related accidents but overall health concerns as well. These include work-related long-term exposure to hazardous substances that result in...