Implementing the Kyoto Mechanisms: Potential Contributions by Banks and Insurance Companies

Janssen, Josef

doi:10.1111/1468-0440.00085

Cited by 13 publications

(6 citation statements)

References 11 publications

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“…34 See Berliner (1982). 35 See, e.g., Biener and Eling (2012), Doherty (1991), Jaffee and Russell (1997), Janssen (2000), Karten (1997), Nierhaus (1986), Schmit (1986), and Vermaat (1995).…”

Section: Methodsmentioning

confidence: 99%

Insurability of Cyber Risk: An Empirical Analysis

Biener

Eling

Wirfs

2014

Geneva Pap Risk Insur Issues Pract

260

148

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This paper discusses the adequacy of insurance for managing cyber risk. To this end, we extract 994 cases of cyber losses from an operational risk database and analyze their statistical properties. Based on the empirical results and recent literature, we investigate the insurability of cyber risk by systematically reviewing the set of criteria introduced by Berliner (1982). Our findings emphasize the distinct characteristics of cyber risks compared to other operational risks and bring to light significant problems resulting from highly interrelated losses, lack of data, and severe information asymmetries. These problems hinder the development of a sustainable cyber insurance market. We finish by discussing how cyber risk exposure may be better managed and make several suggestions for future research.

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Section: Methodsmentioning

confidence: 99%

Insurability of Cyber Risk: An Empirical Analysis

Biener

Eling

Wirfs

2014

Geneva Pap Risk Insur Issues Pract

260

148

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“…Berliner (1982) introduced a comprehensive method of distinguishing insurable from uninsurable risks (Berliner, 1982, 1985; Berliner and Bühlmann, 1986). This approach is based on nine insurability criteria and is frequently used to analyze insurance markets and products (Biener et al , 2015; Biener and Eling, 2012; Doherty, 1991; Jaffee and Russell, 1997; Janssen, 2000; Karten, 1997; Nierhaus, 1986; Schmit, 1986; Vermaat, 1995). The criteria are categorized into three categories and classify risks in terms of actuarial, market and societal conditions (Table I).…”

Section: Methodsmentioning

confidence: 99%

The impact of telematics on the insurability of risks

Eling

Kraft

2020

JRF

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Purpose The purpose of this paper is to analyze the use of telematics in insurance and its consequences for the insurability of risks. Empirical results on monitoring policyholders or insured objects and its consequences for asymmetric information, as well as claims frequency and severity are discussed. Furthermore, potential future research questions that arise from the use of telematics in risk management and insurance are outlined. Design/methodology/approach The paper systematically reviews existing studies and then investigates the consequences of telematics using Berliner’s insurability criteria. The results are based on 52 academic studies and industry papers published from 2000 to 2019. Findings The findings emphasize the effects of new information on information asymmetry and risk pooling, the implications of new technologies on loss frequency and severity, legal restrictions and ethical consequences of the use of telematics in the insurance field. Problems with the insurability impede the market development of innovations such as telematics tariffs. Originality/value Despite its increasing relevance for businesses at present, research on telematics in insurance is limited. Some papers can be found in the IT domain, but relatively little research has been done in the business and economics literature. The authors illustrate where the research stands currently and outline directions for future research.

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“…With regard to the necessary societal conditions, coverage must be consistent with public policy and societal values, and with the legal restrictions governing coverage. Compliance with the public policy criterion includes restraints on offering insurance 18 See, for example, Doherty (1991); Jaffee and Russell (1997); Janssen (2000); Karten (1997); Miranda and Glauber (1997); Nierhaus (1986); Schmit (1986); Vermaat (1995). 19 See Charpentier (2008); Herweijer et al (2009); Kunreuther and Michel-Kerjan (2004).…”

Section: Insurability Of Risksmentioning

confidence: 99%

Insurability in Microinsurance Markets: An Analysis of Problems and Potential Solutions

Biener¹,

Eling²

2016

The Geneva Papers

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This paper provides a comprehensive analysis of the insurability of risks in microinsurance markets. Our aim is to enhance the understanding of impediments to and facilitators of microinsurance from an economic perspective and outline potential solutions. The motivation for conducting this analysis arises from two important aspects. (1) Despite strong growth of microinsurance markets in recent years, more than 90 per cent of the poor population in developing countries have limited or no access to insurance. (2) Industry practitioners frequently highlight problems in the insurability of risks that hinder the development of microinsurance. We review 131 papers and find that the most severe problems stem from insufficient resources for risk evaluation, small size of insurance groups, information asymmetries and the size of the insurance premium. On the basis of the analysis, we discuss a number of potential solutions such as, for example, a cooperative microinsurance architecture.

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Implementing the Kyoto Mechanisms: Potential Contributions by Banks and Insurance Companies

Cited by 13 publications

References 11 publications

Insurability of Cyber Risk: An Empirical Analysis

Insurability of Cyber Risk: An Empirical Analysis

The impact of telematics on the insurability of risks

Insurability in Microinsurance Markets: An Analysis of Problems and Potential Solutions

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