In the 1970s, the research agenda in insurance was dominated by optimal insurance coverage, security design, and equilibrium under conditions of imperfect information. The 1980s saw a growth of theoretical developments including non-expected utility, multi-period contracting, price volatility, retention capacity, organizational forms, the pricing and design of insurance contracts in thepresence of multiple risks, and the liability insurance crisis. The empiricalstudy of information problems, financial derivatives, integrated risk management, and large losses due to catastrophic events dominated the research agendain the 1990s, while systemic risk, risk securitization, and other financial innovations characterized the insurance industry during the 2000s.This new edition of the Handbook of Insurance provides a single reference source on insurance for professors, researchers, graduate students, regulators, consultants, and practitioners, that reviews the research developments in insurance and its related fields that have occurred over the last forty years. The book starts with the history and foundations of insurance theory and moves on to review asymmetric information, risk management, insurance pricing, new financial innovations, systemic risk, insurance regulation, and the industrial organization of insurance markets. The book ends with life insurance, pensions, and economic security. This version contains eleven new chapters related to insurance-linked securities, capital allocation, reinsurance, longevity risk, long-term care management, securitization, systemic risk, and other insurance market applications.
- ISBN: 978-1-4614-0154-4
- Editorial: Springer
- Encuadernacion: Cartoné
- Fecha Publicación: 21/09/2012
- Nº Volúmenes: 1
- Idioma: Inglés