MAP20140039326
The Market for directors' and officers' insurance / Stephen G. Fier, Andre P. Liebenberg
Sumario: Directors' and officers' (D&O) liability insurance is a commonly used risk management tool for corporations both in the United States and abroad. While prior research has focused on the demand for D&O insurance and its role in corporate governance, there is an absence of literature on the supply side of the D&O market. Using the newly available D&O Insurance Coverage Supplement to insurers' statutory filings, we develop a more comprehensive understanding of the D&O insurance market and of those firms that write D&O coverage. We develop and estimate a model of the decision to write D&O insurance and the extent of market participation. Our results suggest that there are significant operational and financial differences between firms that supply D&O insurance and those that do not. Several of these differences (specifically, size, diversification, and organizational form) are consistent with the predictions of the managerial discretion hypothesis
1. Responsabilidad civil de la empresa . 2. Mercado de seguros . 3. Seguro de responsabilidad civil profesional . 4. Gerencia de riesgos . 5. Dirección de empresas . 6. Estudios de mercado . 7. Predicciones económicas . 8. Empresas de seguros . 9. Seguro D&O . 10. Directors and officers (insurance) .
I. Liebenberg, André P. . II. Título.