This paper uses metropolitan data to test empirically if health insurers possess monopsony or monopoly-busting power on the buyer-side of the hospital services market. According to theory, monopsony power is indicated by a fall in output, whereas, monopoly-busting power is shown by an increase in output when buyer concentration rises. The empirical results provide evidence that greater health i...

This article considers the dividend optimization problem for an insurer with a jumpdiffusion risk process in the presence of fixed and proportional transaction costs. Due to the presence of a fixed transaction cost, the mathematical problem becomes an impulse stochastic control problem. Using a stochastic impulse control approach, we transform the stochastic control problem into a quasi-variati...

We study a dynamic insurance market with asymmetric information and ex post moral hazard. In our model, the insurance buyer’s risk type is unknown to the insurer; moreover, the buyer has the option of not reporting losses. The insurer sets premia according to the buyer’s risk rating that is computed via Bayesian estimation based on buyer’s history of reported claims. Accordingly, the buyer has ...

We estimate an insurer-specific preference function which rationalizes hospital referrals for privately insured births in California. The function is additively separable in: a hospital price paid by the insurer, the distance traveled, and plan- and severity-specific hospital fixed effects (capturing hospital quality). We use an inequality estimator that allows for errors in price and detailed ...

To control spending on prescription drugs, health insurance systems abroad have experimented in recent years with a novel form of patient cost sharing called "reference pricing." Under this approach, the insurer covers only the prices of low-cost, benchmark drugs in therapeutic clusters that are deemed to be close substitutes for one another in treating specific illnesses. Patients who desire a...

Reproduction partielle permise avec citation du document source, incluant la notice ©. Short sections may be quoted without explicit permission, if full credit, including © notice, is given to the source. CIRANO Le CIRANO est un organisme sans but lucratif constitué en vertu de la Loi des compagnies du Québec. Le financement de son infrastructure et de ses activités de recherche provient des co...

The implementation of the standard agreement in Insurance Agreement according to Law No. 40 2014 confirms that insurance is an made between insurer and insured, which regulated Article 246 KUHD. As affirms fulfillment binding rights obligations insured party insurer, both parties must comply with all points are part agreement. This article classified as a literature research qualitative approac...

We analyze the potential of reinsurance for reversing current trend decreasing capital guarantees in life insurance products. Providing an insurer with opportunity to shift part financial risk a reinsurer, we solve insurer's dynamic investment-reinsurance optimization problem under simultaneous Value-at-Risk and no-short-selling constraints. introduce concept guarantee-equivalent utility gain u...

Through an innovative new policy forged with a single insurer, Honeywell is consolidating risks as diverse as fire protection and currency fluctuations--and saving a bundle.

This study introduces and applies a new method for studying under-reporting of injuries. method, “one-to-one injury matching”, involves locating comparing individual incidents within company insurer recording systems. Using this gives detailed measure the difference in injuries recognised as “work-related” by insurer, classified “recordable” company. includes differences volume injuries, well n...