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EconStor >
Goethe-Universität Frankfurt am Main >
Center for Financial Studies (CFS), Universität Frankfurt a. M. >
CFS Working Paper Series, Universität Frankfurt a. M. >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25492
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Laux, Christian | | en_US |
| dc.contributor.author | | Muermann, Alexander | | en_US |
| dc.date.accessioned | | 2007-04-20 | | en_US |
| dc.date.accessioned | | 2009-07-24T13:48:04Z | | - |
| dc.date.available | | 2009-07-24T13:48:04Z | | - |
| dc.date.issued | | 2006 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/25492 | | - |
| dc.description.abstract | | Mutual insurance companies and stock insurance companies are different forms of organized risk sharing: policyholders and owners are two distinct groups in a stock insurer, while they are one and the same in a mutual. This distinction is relevant to raising capital, selling policies, and sharing risk in the presence of financial distress. Up-front capital is necessary for a stock insurer to offer insurance at a fair premium, but not for a mutual. In the presence of an ownermanager conflict, holding capital is costly. Free-rider and commitment problems limit the degree of capitalization that a stock insurer can obtain. The mutual form, by tying sales of policies to the provision of capital, can overcome these problems at the potential cost of less diversified owners. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Center for Financial Studies Frankfurt, Main | | en_US |
| dc.relation.ispartofseries | | CFS Working Paper 2006/26 | | en_US |
| dc.subject.jel | | G22 | | en_US |
| dc.subject.jel | | G32 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Ownership Structure | | en_US |
| dc.subject.keyword | | Insurance | | en_US |
| dc.subject.keyword | | Qwner-Manager Conflict | | en_US |
| dc.subject.keyword | | Capital, Default | | en_US |
| dc.subject.stw | | Versicherung | | en_US |
| dc.subject.stw | | Privatversicherung | | en_US |
| dc.subject.stw | | Eigentümerstruktur | | en_US |
| dc.subject.stw | | Versicherungsprämie | | en_US |
| dc.subject.stw | | Eigenkapital | | en_US |
| dc.subject.stw | | Betriebliche Liquidität | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Mutual versus stock insurers: Fair premium, capital, and solvency | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 527428841 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:cfswop:200626 | | - |
| Appears in Collections: | | CFS Working Paper Series, Universität Frankfurt a. M.
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