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Information about multiple risks: the case of building and content insurance


Bonato, Dario; Zweifel, Peter (2002). Information about multiple risks: the case of building and content insurance. Journal of Risk and Insurance, 69(4):469-487.

Abstract

Insurers traditionally use risk-specific characteristics of insureds to classify them according to risk. In this article, the practical relevance of information about multiple risks is demonstrated for the case of content insurance of a Swiss company. Two types of such information prove important: information about "spillover moral hazard" caused by mandated prevention affecting preventive effort in an unregulated line, and information about "common impulses" reflected in the loss experience of related lines. Both contribute to an improved prediction of loss probability.

Abstract

Insurers traditionally use risk-specific characteristics of insureds to classify them according to risk. In this article, the practical relevance of information about multiple risks is demonstrated for the case of content insurance of a Swiss company. Two types of such information prove important: information about "spillover moral hazard" caused by mandated prevention affecting preventive effort in an unregulated line, and information about "common impulses" reflected in the loss experience of related lines. Both contribute to an improved prediction of loss probability.

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4 citations in Web of Science®
5 citations in Scopus®
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Additional indexing

Item Type:Journal Article, refereed
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:2002
Deposited On:11 Feb 2008 12:21
Last Modified:05 Apr 2016 12:17
Publisher:Wiley-Blackwell
ISSN:0022-4367
Publisher DOI:https://doi.org/10.1111/1539-6975.00035

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