Corporate demand for insurance
Subtitle: an empirical analysis of the U.S. market for catastrophe and non-catastrophe risks
By: Erwann Michel-Kerjan, Paul Raschky, Howard Kunreuther
Contributors: Raschky, Paul; Kunreuther, Howard; National Bureau of Economic Research
Series: NBER working paper series -- working paper 17403; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17403.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Using a unique dataset of insurance decisions by over 1,800 large U.S.  corporations, this study provides the first empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism).  We combine demand and supply data and apply a simultaneous-equation approach to address the problem of endogenous premium decisions.  The main finding is that demand for property and catastrophe insurance are not very different and that the demand for catastrophe coverage is actually more price inelastic.  We also show that a corporation's ability to self-insure affects the demand for catastrophe insurance but not for property insurance"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 12/1/2011.

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