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The Impact of Introducing Insurance Guaranty Schemes on Pricing and Capital Structure

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  • Hato Schmeiser
  • Joël Wagner

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  • Hato Schmeiser & Joël Wagner, 2013. "The Impact of Introducing Insurance Guaranty Schemes on Pricing and Capital Structure," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 273-308, June.
    • Handle: RePEc:bla:jrinsu:v:80:y:2013:i:2:p:273-308
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    File URL: http://hdl.handle.net/10.1111/j.1539-6975.2012.01474.x
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    References listed on IDEAS

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    1. Gatzert, Nadine & Schmeiser, Hato, 2008. "The influence of corporate taxes on pricing and capital structure in property-liability insurance," Insurance: Mathematics and Economics, Elsevier, vol. 42(1), pages 50-58, February.
    2. David Cummins, J. & Sommer, David W., 1996. "Capital and risk in property-liability insurance markets," Journal of Banking & Finance, Elsevier, vol. 20(6), pages 1069-1092, July.
    3. James A. Ligon & Paul D. Thistle, 2007. "The Organizational Structure of Insurance Companies: The Role of Heterogeneous Risks and Guaranty Funds," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 74(4), pages 851-862, December.
    4. Michael Sherris, 2006. "Solvency, Capital Allocation, and Fair Rate of Return in Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 73(1), pages 71-96, March.
    5. Duan, Jin-Chuan & Yu, Min-Teh, 2005. "Fair insurance guaranty premia in the presence of risk-based capital regulations, stochastic interest rate and catastrophe risk," Journal of Banking & Finance, Elsevier, vol. 29(10), pages 2435-2454, October.
    6. Cummins, J David, 1988. " Risk-Based Premiums for Insurance Guaranty Funds," Journal of Finance, American Finance Association, vol. 43(4), pages 823-839, September.
    7. Margrabe, William, 1978. "The Value of an Option to Exchange One Asset for Another," Journal of Finance, American Finance Association, vol. 33(1), pages 177-186, March.
    8. Han, Li-Ming & Lai, Gene C. & Witt, Robert C., 1997. "A financial-economic evaluation of insurance guaranty fund system: An agency cost perspective," Journal of Banking & Finance, Elsevier, vol. 21(8), pages 1107-1129, August.
    9. Fischer, Stanley, 1978. "Call Option Pricing when the Exercise Price Is Uncertain, and the Valuation of Index Bonds," Journal of Finance, American Finance Association, vol. 33(1), pages 169-176, March.
    10. Doherty, Neil A & Garven, James R, 1986. "Price Regulation in Property-Liability Insurance: A Contingent-Claims Approach," Journal of Finance, American Finance Association, vol. 41(5), pages 1031-1050, December.
    11. Cummins, J. David & Lamm-Tennant, Joan, 1994. "Capital structure and the cost of equity capital in the property-liability insurance industry," Insurance: Mathematics and Economics, Elsevier, vol. 15(2-3), pages 187-201, December.
    12. Gilles Bernier & Ridha M. Mahfoudhi, 2010. "On the Economics of Postassessments in Insurance Guaranty Funds: A Stakeholders’ Perspective," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(4), pages 857-892, December.
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    Cited by:

    1. Chen, An & Uzelac, Filip, 2014. "A risk-based premium: What does it mean for DB plan sponsors?," Insurance: Mathematics and Economics, Elsevier, vol. 54(C), pages 1-11.
    2. Martin Eling & David Pankoke, 2016. "Costs and Benefits of Financial Regulation: An Empirical Assessment for Insurance Companies," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(4), pages 529-554, October.
    3. Braun, Alexander & Schmeiser, Hato & Rymaszewski, Przemysław, 2015. "Stock vs. mutual insurers: Who should and who does charge more?," European Journal of Operational Research, Elsevier, vol. 242(3), pages 875-889.
    4. Mary Kelly & Anne Kleffner & Grant Kelly, 2020. "An examination of catastrophes, insurance guaranty funds and contagion risk," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(2), pages 256-280, April.
    5. Christian Biener & Martin Eling & Shailee Pradhan, 2015. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2013 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 18(1), pages 129-141, March.
    6. Bruszas, Sandy & Kaschützke, Barbara & Maurer, Raimond & Siegelin, Ivonne, 2018. "Unisex pricing of German participating life annuities—Boon or bane for customer and insurance company?," Insurance: Mathematics and Economics, Elsevier, vol. 78(C), pages 230-245.

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