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Guaranteed renewability in insurance

dc.contributor.authorPauly, Mark V.en_US
dc.contributor.authorKunreuther, Howarden_US
dc.contributor.authorHirth, Richard A.en_US
dc.date.accessioned2006-09-11T19:32:54Z
dc.date.available2006-09-11T19:32:54Z
dc.date.issued1995-03en_US
dc.identifier.citationPauly, Mark V.; Kunreuther, Howard; Hirth, Richard; (1995). "Guaranteed renewability in insurance." Journal of Risk and Uncertainty 10(2): 143-156. <http://hdl.handle.net/2027.42/47916>en_US
dc.identifier.issn0895-5646en_US
dc.identifier.issn1573-0476en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/47916
dc.description.abstractWe propose a guaranteed renewability (GR) insurance in which a sequence of premiums would enable insurers to break even and would be chosen by both low- and high-risk buyers, whether or not they had suffered a loss. The premium schedule would continually decline over time, as the insurer collects more information to determine who the low-risk buyers are. The highest premiums are charged initially to protect the insurer if low-risk individuals leave for the spot market. The concluding portion of the article discusses the limitations of a GR policy in the health and environmental liability area, the most serious being instability in estimates of underlying loss trends.en_US
dc.format.extent901326 bytes
dc.format.extent3115 bytes
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/plain
dc.language.isoen_US
dc.publisherKluwer Academic Publishers; Springer Science+Business Mediaen_US
dc.subject.otherEconomics / Management Scienceen_US
dc.subject.otherEconomic Theoryen_US
dc.subject.otherMicroeconomicsen_US
dc.subject.otherEnvironmental Economicsen_US
dc.subject.otherOperation Research/Decision Theoryen_US
dc.subject.otherUncertaintyen_US
dc.subject.otherInsuranceen_US
dc.subject.otherRenewabilityen_US
dc.subject.otherCompetitionen_US
dc.titleGuaranteed renewability in insuranceen_US
dc.typeArticleen_US
dc.subject.hlbsecondlevelPsychologyen_US
dc.subject.hlbsecondlevelSocial Worken_US
dc.subject.hlbtoplevelSocial Sciencesen_US
dc.description.peerreviewedPeer Revieweden_US
dc.contributor.affiliationumDepartment of Health Management and Policy, University of Michigan, 48109-2029, Ann Arbor, MIen_US
dc.contributor.affiliationotherHealth Care Systems Department, The Wharton School, University of Pennsylvania, 19104, Philadelphia, PAen_US
dc.contributor.affiliationotherOperations & Information Management Department, The Wharton School, University of Pennsylvania, 19104, Philadelphia, PAen_US
dc.contributor.affiliationumcampusAnn Arboren_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/47916/1/11166_2005_Article_BF01083557.pdfen_US
dc.identifier.doihttp://dx.doi.org/10.1007/BF01083557en_US
dc.identifier.sourceJournal of Risk and Uncertaintyen_US
dc.owningcollnameInterdisciplinary and Peer-Reviewed


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