An empirical analysis of the Nuclear Liability Act (1970) in Canada

The Nuclear Liability Act (1970) limits the liability of nuclear reactor operators in Canada to the first $75 m of any off-site damage done by an accident. In recent litigation, the limitation has been challenged. It has been argued that the implicit subsidy which such a provision confers encourages the use of nuclear over other fuel sources and reduces safety incentives. During the litigation, it was contended that the value of the subsidy could be as high as 12 to 16 cents per kW h. We use numerical curve-fitting techniques to evaluate the subsidy using data implicit in insurance premiums and under a range of expert assessments regarding `worst case' scenarios. In most cases, the subsidy is found to be less than 1 cent per kW h, and in no case is it greater than 4 cents. While the uninternalised costs are not trivial they are smaller than existing estimates of those associated with the use of alternative fuels.     

董事高管责任保险促进还是抑制企业创新

作为企业重要的治理机制,董事高管责任保险通过管理层风险偏好、管理水平及激励机制等因素进而影响企业创新,此影响过程究竟是促进还是抑制,尚存争论.基于沪深A股2007—2018年上市公司微观数据,实证研究了董事高管责任保险对企业创新的影响.研究发现:董事高管责任保险对企业创新存在显著的"创新激励"效应,特别是对创新产出和创新效率的提升作用明显,并在考虑控制内生性问题后,上述结论仍成立;企业高层的风险承受力与管理水平是董事高管责任保险对企业创新影响的重要机制和渠道,董事高管责任保险明显提高了管理层的风险承受力和管理能力,从而促进了企业创新;不同行业对"创新激励"效应存在显著的异质性,较高科技水平和竞争水平的行业"创新激励"效应更为明显.研究为完善上市公司治理结构,加快董事高管责任保险发展以促进企业创新具有重要的理论价值和政策意义.     

我国开发环境责任保险的必要性与可行性分析

环境责任保险有利于维护公众的利益,有利于企业经营的稳定,有利于对环境污染的监管,有利于我国保险业的发展,有利于社会的安定,也有利于国家财政负担的减轻。但是,由于环境责任风险具有基本风险的特征,导致保险公司的经营风险增加,影响了保险公司的开发积极性;价格偏高制约了投保人的有效需求;公众维护自身权益的意识有待加强以及相关法律、法规不完善也严重地阻碍了环境责任保险的开发,因此,政府应该通过税收优惠、强制保险和完善法律、法规扶持环境责任保险的开发,保险业应通过限制保险金额、规定绝对免赔额和利用再保险降低和转移经营风险,厂家应积极购买环境责任保险来转移环境责任风险。     

Liability Insurance and Choice of Cars: A Large Game Approach

If a car, already on the road, is replaced by another one, more expensive to collide with, a negative externality spills over to other drivers. This paper studies such externalities, relating them to insurance and incentives. It formalizes links from liability rules to choice of car. By assumption, insurance is cooperative but car acquisition is noncooperative. Construing drivers' interaction as a large game, the paper considers how a Nash equilibrium—and its efficiency or fairness—is shaped by the underlying liability regime.     

环境污染责任保险与企业创新:促进还是抑制

在绿色发展背景下,基于环保部公布的投保环境污染责任保险企业名录,实证检验环责险对企业创新的影响及其作用机制。结果显示：投保环责险能促进企业创新能力提升,其在企业创新治理方面发挥着积极作用;环责险通过缓解融资约束提高企业创新能力;环责险对非国有企业创新水平促进效果更显著;环责险与环境规制不能发挥协同作用。结论丰富了企业创新影响因素以及环责险经济后果的理论研究,对深化绿色保险改革、实现创新驱动发展具有重要现实意义。     

Least-Cost Avoidance: The Tragedy of Common Safety

This article shows that the least-cost avoider approach in tortis not necessarily the optimal way to attain least-cost avoidancewhen accidents can be avoided by either of two parties. Whenparties do not observe each other's costs of care at the timeof the accident and are unable to determine which party is theleast-cost avoider, they fail to anticipate the outcome of theadjudication. Under these circumstances, accident avoidancebecomes a commons problem because care by each individual partyreduces the prospect of liability for both parties. As a result,parties suboptimally invest in care. We show that regulationremoves this problem and is superior to tort liability bothwhen parties act simultaneously and when they act sequentially.We further examine how different liability rules perform inthis respect. (JEL K13, K32)     

航空意外险感知风险与购买意愿关系研究

航空意外险是一种非强制性保险产品,产品的销售取决于顾客的购买意愿,而购买意愿又与顾客的感知风险相关联.本文在文献研究基础上,将时间风险、功能风险、财务风险、社会风险四个维度作为感知风险变量,同时引入客户保险产品认知度这一调节变量,构建感知风险与购买意愿分析模型,并对调查数据进行实证分析,最后提出相关建议.研究结论显示:首先,时间风险、功能风险、财务风险对购买意愿有显著的负相关,而社会风险则对购买意愿无显著影响;其次,保险产品高认知顾客与航空意外险购买意愿正相关,而一般认知顾客与购买意愿无显著性关系;最后,顾客介入程度这一调节变量仅对功能风险起到调节作用,顾客的功能风险与航空意外险的购买意愿显著相关.     

Accident Law: Efficiency May Require an Inefficient Standard

In a world with risk-neutral agents in which accidents occur with a positive probability, liability rules will only induce efficient behaviour if these rules impose the full (marginal) costs of an action on the parties. However, institutional restrictions or bilateral activity choices can prevent the full internalization of costs. A mechanism is proposed which guarantees an efficient outcome: monetary fines which are not related to the occurrence of an accident. Such a mechanism requires individuals to violate the standard of care in order to trigger the fine payments. Hence, efficiency requires an excessive standard.     

Product Liability: Beyond Class Action

Can punitive product liability enhance economic efficiency? A very simple economic theory, assuming that the probability and the degree of product dissatisfaction are functions only of the producer's not of the consumer's effort, is modelled and analysed in this paper. The qualitative conclusion hinges critically upon whether the legal liability is reflected on price determination. If the price of the product is insensitive to product liability legislation, then punitive liability beyond the class action (i.e., compensatory payments more than proportional representation of potentially dissatisfied consumers) can induce socially desirable levels of effort exerted by the producer firm. This affirmative effect disappears if the price fully reflects all the expected legal liabilities, whereby punitive liability tends to reduce economic efficiency by encouraging costly lawsuit.     

董事高管责任保险与企业绿色创新：激励工具还是自利手段

以2011—2019年我国A股上市公司为研究对象，通过手动收集企业董事高管责任保险及绿色专利数据，实证考察董事高管责任保险对绿色创新的影响，结果发现：①董事高管责任保险能够显著促进企业绿色创新，即董事高管责任保险是企业绿色创新的激励工具，而非管理层阻碍绿色创新的自利手段；②通过Heckman两阶段模型、倾向得分匹配缓解可能存在的内生性问题，并经过一系列其它稳健性检验后，基本结论仍保持不变；③董事高管责任保险对绿色创新的促进作用在不同规模、不同股权集中度的企业间存在差异，主要表现为对中小型企业的影响大于大型企业，对股权较为集中企业的影响大于股权分散企业。从董事高管责任保险这一全新视角对企业绿色创新进行解读，可为加速我国上市企业董事高管责任保险知识普及，驱动企业绿色创新跨越式发展提供理论支撑。     

Corporate insurance with optimal financial contracting

Summary. This paper attemps to rationalize the use of insurance covenants in financial contracts, and shows how external financing generates a demand for insurance by risk-neutral entrepreneurs. In our model, the entrepreneur needs external financing for a risky project that can be affected by an accident during its realization. Accident losses and final returns are private information to the firm, but they can be evaluated by two costly auditing technologies. We derive the optimal financial contract: it is a bundle of a standard debt contract and an insurance contract with franchise, trading off bankruptcy costs vs auditing costs. We then analyze how this optimal contract can be achieved by decentralized trading on competitive markets when insurance and credit activities are exogenously separated. With additive risks, the insurance contract involves full coverage above a straight deductible. We interpret this result by showing how our results imply induced risk aversion for risk-neutral firms. Received: December 14, 1998; revised version: August 11, 1999     

走出缺陷产品召回制度的认识误区

目前对缺陷产品召回制度存在一些颇具代表性的认识误区,如认为召回的发生是由于生产者不负责任才造成的.实际中,因三包就可以解决产品质量问题从而替代召回,鉴于召回成本高,可用产品责任保险和产品质量保证保险来转嫁这种风险等.导致实践中产品一经召回生产者即备受抨击的局面,对召回生产者则极力掩饰,不愿也不敢进行.严重影响了召回制度的有效实施和相关制度的进一步完善.客观而言,在现代化大生产条件下,系统性缺陷产品的产生是不可避免的.基于社会公共利益的考量,召回制度是有效消除该缺陷的唯一选择.显然,三包制度的局限性决定了它不可能替代召回制度.为化解召回风险,保险公司应加强对召回保险的研究、开发和应用.     

环境污染赔偿责任保险制度可行性基础研究

作为环境污染责任保险之一的环境污染赔偿责任保险在美国、德国等西方发达国家以及巴西、印度等发达国家已趋于完善,并对环境的保护和纠纷的解决发挥了重要作用。然而,由于种种原因,该制度目前在我国只处于政策层面,尚没有上升为法律,在政策的指导之下,地方各自为战开展环境污染责任保险制度,虽然取得了一些成绩,但也存在诸多问题,迫切需要国家立法机关对制度制定统一的法律、法规,因此对其理论基础、实践基础等方面展开深入研究,对于环境污染赔偿责任保险制度的构建具有重要意义。     

发展环境责任保险,建构双层环境污染监督体制

环境责任保险是以被保险人因污染环境而应承担的以损失赔偿和治理责任为标的的责任保险形式。在我国,建立和推广环境责任保险,不仅满足了保险市场的供给与需求,更重要的是可以建构国家(环保部)——保险公司——污染企业双层环境污染监督体制,有利于我国环境保护事业的发展。     

我国责任保险市场供求环境分析

责任保险的发展水平是衡量一国保险业发达程度的重要尺度，我国的责任保险尚落后于发达国家，本文试从责任保险市场的供求环境分析我国责任保险现状的主要成因。     

INCENTIVE AND INSURANCE EFFECTS OF INCOME TAXATION

Tax distortions cause a trade‐off between efficiency and equity. However, taxes not only affect incentives; they also provide implicit insurance, and this may critically affect the efficiency–equity relationship. For a standard labour supply problem it is shown that the insurance effect mutes the sensitivity of labour supply to taxes, which tends to reduce tax distortions and lower the marginal costs of public funds. The relation between incentives and insurance and thus efficiency and equity is flattened by the insurance effect and it may even be non‐monotone. However, the optimal utilitarian policy implies that there is always a trade‐off between efficiency and equity on the margin.     

长期护理保险在山西的市场调查与发展对策研究

因家庭养老功能的弱化、护理费用的高涨及现有社会保障制度的不完善,使得长期护理保险自面世以来倍受人们的关注.这一保险产品目前在山西存在巨大的有效需求,而市场供给却为空白,巨大的供需缺口孕育着巨大的市场潜力.为此保险公司应结合山西地区发展实际,有针对性地改造现有产品,开发新产品,政府也应给予适当的财税优惠政策,并最终应将长期护理保险纳入社会保险范畴.     

Implications for unisex statutes and risk-pooling: The costs of gender and underwriting attributes in the automobile insurance market

In this paper, we explore the effects of gender and other demographic features and benefit provisions on insurance premiums using individual data from a property and liability insurer domiciled in Georgia for three types of automobile insurance coverages: collision insurance, comprehensive insurance, and liability insurance. We report the implicit prices of individual and automobile underwriting attributes and find that the effect of gender on the insurance premium for each of our coverage types is significant but has a lower absolute effect than other underwriting attributes, raising questions about the regulatory impact of unisex statutes. Finally, we examine three alternatives open to the regulator who must mandate and monitor insurance pricing under a unisex statute.     

意外险的需求模式、感觉阈限与通货膨胀率——基于三区制门限回归模型的实证分析

文章基于中国2000-2010年季度数据的实证分析表明,通货膨胀率不仅显著影响意外险需求,而且意外险保费收入增长率与通货膨胀率之间不是简单的线性负相关。首先,意外险需求对通货膨胀率的敏感程度是边际递减的;其次,与通货膨胀风险相比,投保人更加厌恶通货紧缩风险;最后,由于需求模式在门限值附近出现较大改变,可能会冲击意外险市场,当通货膨胀率接近门限值时保险公司应及时调整营销策略。     

论农业保险经营中的技术障碍与技术选择

农业保险是财产保险中特殊的一类.由于农业风险可保性差、风险单位大、区域性强等特点,在农业保险经营中,厘定保险费率、界定保险责任、防范道德风险、定损理赔以及分散巨灾损失等方面都存在特殊的技术障碍,普通财产保险经营技术难以奏效.在分析这些技术障碍的基础上,研究了农业保险经营中独特的技术选择.