TY  - BOOK
AU  - Jaffee,Dwight
AU  - Kunreuther,Howard
AU  - Michel-Kerjan,Erwann
ED  - National Bureau of Economic Research.
TI  - Long Term Insurance (LTI) for Addressing Catastrophe Risk
T2  - NBER working paper series
PY  - 2008///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - August 2008; Hardcopy version available to institutional subscribers
N2  - This paper proposes long-term insurance (LTI) as an alternative to the standard annual homeowners policy using lessons from the mortgage market as a benchmark. LTI has the potential to significantly increase social welfare by reducing insurers' administrative costs, lowering search costs and uncertainty for consumers and providing incentives for long-term investment in mitigation measures to protect property. A two-period model illustrates situations that would make a long-term contract attractive to both insurers and consumers under competitive market conditions
UR  - https://www.nber.org/papers/w14210
UR  - http://dx.doi.org/10.3386/w14210
ER  -