@techreport{Doherty2011Insuring,
abstract = {Insurance contracts are often complex and difficult to verify outside the insurance relation. We show that standard one-period insurance policies with an upper limit and a deductible are the optimal incentive-compatible contracts in a competitive market with repeated interaction. Optimal group insurance policies involve a joint upper limit but individual deductibles and insurance brokers can play a role implementing such contracts for the group of clients. Our model provides new insights and predictions about the determinants of insurance.},
address = {Frankfurt, Main},
author = {Neil A. Doherty and Christian Laux and Alexander Muermann},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D68; G22; L14; 330; Deductible Insurance; Upper Limit; Implicit Insurance Contracts; Insurance Brokers; Versicherungs\"{o}konomik; Anreizvertrag; Selbstbeteiligung; Versicherungsvermittlung; Theorie},
language = {eng},
number = {2011/31},
publisher = {Center for Financial Studies},
title = {Insuring non-verifiable losses},
type = {CFS Working Paper},
url = {http://hdl.handle.net/10419/57366},
year = {2011}
}
