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The Long-Term Care Insurance Market

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  • Denis Kessler

    (Immeuble SCOR)

Abstract

This paper focuses on the existence of an insurance market for long-term care. There are three major risks for insurers that provide long-term care insurance: risk of escalating costs, risk of adverse selection and risk of moral hazard. Despite these risks, the long-term care insurance is a potentially expanding market for insurance companies able to innovate and design products tailored to this very specific demand.

Suggested Citation

  • Denis Kessler, 2008. "The Long-Term Care Insurance Market," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 33(1), pages 33-40, January.
    • Handle: RePEc:pal:gpprii:v:33:y:2008:i:1:d:10.1057_palgrave.gpp.2510164
    DOI: 10.1057/palgrave.gpp.2510164
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    References listed on IDEAS

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    1. Darius Lakdawalla & Tomas Philipson, 2002. "The Rise in Old-Age Longevity and the Market for Long-Term Care," American Economic Review, American Economic Association, vol. 92(1), pages 295-306, March.
    2. Amy Finkelstein & Kathleen McGarry, 2003. "Private Information and its Effect on Market Equilibrium: New Evidence from Long-Term Care Insurance," NBER Working Papers 9957, National Bureau of Economic Research, Inc.
    3. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
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    Cited by:

    1. Christophe Courbage & Nolwenn Roudaut, 2008. "Empirical Evidence on Long-term Care Insurance Purchase in France," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 33(4), pages 645-658, October.
    2. Montserrat Guillén & Jean Pinquet, 2008. "Long-Term Care: Risk Description of a Spanish Portfolio and Economic Analysis of the Timing of Insurance Purchase," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 33(4), pages 659-672, October.

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