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The article sets together some formulas for risk management that are used to protect a company’s operations: mutual insurance, co-operatives, captive insurance, peer-to-peer, risk retention schemes as well as internal risk distribution. The aim of the article is to recognize how mutual companies and captives differ in risk management, especially what their stronger and weaker sides are in these regards...
Classical result by Ehrlich and Becker states that with two states of the world, market insurance and self-insurance are substitutes. However, it turns out that conclusion does not hold in the model with many states. This paper considers interactions between price of compulsory market insurance and demand for self-insurance. We present sufficient conditions for self-insurance to be complementary or...
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