Insolvency risk and its impact on the po
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Alexandra K Berketi
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Article
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1999
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Elsevier Science
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English
⚖ 587 KB
Ross and McWhirter (Ross and McWhirter, 1991. Unpublished paper) and Berketi and Macdonald (Berketi and Macdonald, 1999. Insurance: Mathematics and Economics 24, 117-138) showed that diversifying insolvency risk results in a substantial cost to the policyholders in terms of reduction in their expec