1 option
Long Term Insurance (LTI) for Addressing Catastrophe Risk / Dwight Jaffee, Howard Kunreuther, Erwann Michel-Kerjan.
- Format:
- Book
- Author/Creator:
- Jaffee, Dwight M., 1943-2016.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w14210.
- NBER working paper series no. w14210
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Long Term Insurance
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2008.
- Summary:
- This paper proposes long-term insurance (LTI) as an alternative to the standard annual homeowners policy using lessons from the mortgage market as a benchmark. LTI has the potential to significantly increase social welfare by reducing insurers' administrative costs, lowering search costs and uncertainty for consumers and providing incentives for long-term investment in mitigation measures to protect property. A two-period model illustrates situations that would make a long-term contract attractive to both insurers and consumers under competitive market conditions.
- Notes:
- Print version record
- August 2008.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.