Financial Economics of Insurance

Benjamin R. Handel, Ralph S. J. Koijen, and Motohiro Yogo, Organizers

April 24, 2020

on Zoom.us

Conference Code of Conduct

Friday, April 24
10:00 am
Bo Becker, Stockholm School of Economics
Marcus Opp, Stockholm School of Economics
Farzad Saidi, University of Bonn

Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Eliminating Capital Requirements
10:30 am
Ishita Sen, Harvard University
Varun Sharma, London Business School

Internal Models, Make Believe Prices, and Bond Market Cornering
11:00 am
Nicola Gennaioli, Bocconi University
Rafael La Porta, Brown University and NBER
Florencio Lopez-de-Silanes, SKEMA Business School and NBER
Andrei Shleifer, Harvard University and NBER

Trust and Insurance Contracts
11:30 am
Break
11:45 am
David Schoenherr, Princeton University
Janis Skrastins, Washington University in St. Louis
Dimas M. Fazio, National University of Singapore
Bernadus Doornik, Banco Central do Brasil

Unemployment Insurance as a Subsidy to Risky Firms
12:15 pm
Weiling Liu, Northeastern University
Jessica Liu, Cornerstone Consulting

The Effect of Political Frictions on Long-term Care Insurance (slides)
12:45 pm

Panel Discussion, The Impact of the COVID-19 Crisis on the Insurance Sector (slides)
Mohamed Baccouche, AXA Group Chief Actuary
Jerome Haegeli, Swiss Re Group Chief Economist (slides)
Thomas Wilson, Allianz Chief Risk Officer (slides)

1:45 pm
Break
Data analytics and insurance markets
2:00 pm
Laura Abrardi, Politecnico di Torino
Luca V. A. Colombo, Università Cattolica del Sacro Cuore
Piero Tedeschi, Università Cattolica del Sacro Cuore

The Value of Ignoring Risk: Competition between Better Informed Insurers (slides)
2:30 pm
Markus K. Brunnermeier, Princeton University and NBER
Rohit Lamba, Pennsylvania State University
Carlos Segura-Rodriguez, Banco Central de Costa Rica

Inverse Selection
3:00 pm
Naoki Aizawa, University of Wisconsin-Madison and NBER
You Suk Kim, Federal Reserve Board

Government Advertising in Market-Based Public Programs: Evidence from the Health Insurance Marketplace
3:30 pm
Break
3:45 pm
Yizhou Jin, University of Toronto
Shoshana Vasserman, Stanford University and NBER

Buying Data from Consumers: The Impact of Monitoring Programs in U.S. Auto Insurance
Climate change and insurance markets
4:15 pm
Richard Stanton, University of California at Berkeley
Carles Vergara-Alert, IESE Business School
Nancy Wallace, Haas School of Business, University of California, Berkeley
Paulo Issler, University of California at Berkeley

Mortgage Markets with Climate-Change Risk: Evidence from Wildfires in California
4:45 pm
Katherine R.H. Wagner, University of British Columbia

Adaptation and Adverse Selection in Markets for Natural Disaster Insurance
5:15 pm
Adjourn