SESSION 11. Insurance theory in historical analyses of risk mitigation

11. Insurance theory in historical analyses of risk mitigation.

Magnus Lindmark (Umeå University) magnus.lindmark@umu.se
Lars Fredrik Andersson (Umeå University).
Mike Adams (University of Bath).


This session welcomes papers using insurance theory and concepts such as adverse selection and moral hazard, for investigating how risk mitigation, assessment and insurance solutions have evolved and varied across countries. We welcome both quantitatively and qualitatively oriented papers with an empirical focus on the dynamics between policymaking, social and economic context and insurance markets. Purely theoretical and/or historiographical papers will also be most welcome. Examples of suitable topics include the changing roles of self-insurance, private and public insurance. Other examples are the function, evolution, co-existence, regulation and competition between different forms of strategies and organizations such as mutual and investor owned organizations, self-insurance including within-family insurance solutions. Also papers aiming at analyzing how risk mitigation and assessment strategies have changed in relation to economic growth are welcome.
The evolution of risk mitigating strategies and various insurance solutions plays an important role for understanding economic, political and social history. Accountability and pricing of risks have affected investment decisions in business life and various choices made by the households. Our ambition is to broaden the analyses of these transformations by using basic insurance theory, either for developing testable hypothesis or for developing interpretative frames to be used in more traditional historical narratives. By taking such a stance we believe that analyses of historical risk mitigation can become more holistic, counteracting the tendency to develop analyses, narratives and theoretical explanations based on specific empirical outlooks and corresponding theoretical frames.