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Insurance Initiative Research

The Chicago Fed Insurance Initiative aims to understand the role of the insurance industry in the overall economy, with an emphasis on the industry’s role in the financial sector. We feel that deeper knowledge of the insurance industry will have payoffs for both policy and research.

Chicago Fed Insights

More Chicago Properties at Risk for Flooding Than Flood Maps Suggest
Andy Polacek
Chicago Fed Insights
2020, August

Chicago Fed Letter

How Vulnerable Are Insurance Companies to a Downturn in the Municipal Bond Market?
Andy Polacek and Shanthi Ramnath
Chicago Fed Letter
2021, No. 451

What Is Business Interruption Insurance and How Is It Related to the Covid-19 Pandemic?
Shanthi Ramnath
Chicago Fed Letter
2020, No. 440

Financial Life After the Death of a Spouse
Itzik Fadlon, Shanthi Ramnath, Patricia K. Tong, and Lisa Camner McKay
Chicago Fed Letter
2020, No. 438

The Growth and Challenges of Cyber Insurance
Andrew Granato and Andy Polacek 
Chicago Fed Letter
2019, No. 426 

Flooding and Finances: Hurricane Harvey’s Impact on Consumer Credit
Daniel Hartley, Eleni Packis, and Ben Weintraut
Chicago Fed Letter
2019, No. 415

Homeowners’ Financial Protection Against Natural Disasters
Alejandro H. Drexler, Andrew Granato, and Richard J. Rosen
2019, No. 409

Catastrophe Bonds: A Primer and Retrospective
Andy Polacek
2018, No. 405 

The Risks of Pricing New Insurance Products: The Case of Long-Term Care
Zain Mohey-Deen and Richard J. Rosen
2018, No. 397

How Much Risk Do Variable Annuity Guarantees Pose to Life Insurers?
Alejandro H. Drexler , Thanases Plestis , Richard J. Rosen
2017, No. 384

Rules and Discretion in Life Insurance Regulation
Alejandro H. Drexler Zain Mohey-Deen and Richard J. Rosen
2017, No. 373

Do Insurers in Catastrophe-Prone Regions Buy Enough Reinsurance?
Florentine M. Eloundou Nekoul and Alejandro H. Drexler
2016, No. 360

How Do Property and Casualty Insurers Manage Risk? The Role of Reinsurance
Andy Polacek
2015, No. 334

Understanding the Relationship between Life Insurers and the Federal Home Loan Banks
Kyal Berends, Robert McMenamin, Anna Paulson and Richard J. Rosen
2014, No. 318

What Do U.S. Life Insurers Invest in?
Robert McMenamin, Anna Paulson, Thanases Plestis and Richard J. Rosen
2013, No. 309

How Liquid Are U.S. Life Insurance Liabilities?
Robert McMenamin, Zain Mohey-Deen, Anna Paulson and Richard J. Rosen
2012, No. 302

Economic Perspectives

What Explains the Decline in Life Insurance Ownership?
Daniel Hartley, Anna Paulson and Katerina Powers
2017, Vol. 41, No. 8

Derivatives and Collateral at U.S. Life Insurers
Kyal Berends and Thomas King
2015, First Quarter

The Sensitivity of Life Insurance Firms to Interest Rate Changes
Kyal Berends, Robert McMenamin, Thanases Plestis and Richard J. Rosen
2013, Second Quarter

Working Papers

The Life Insurance Industry and Systemic Risk: A Bond Market Perspective
 Anna Paulson and Richard J. Rosen
Working Paper
2016, No. 2016-04

Measuring Interest Rate Risk in the Life Insurance Sector: The U.S. and the U.K.
 Daniel Hartley, Anna Paulson and Richard J. Rosen
Working Paper
2016, No. 2016-02 

AIG in Hindsight
Robert McDonald ,Anna Paulson
2014, No. 2014-07

Other Publications

Climate Change and Financial Stability
Celso Brunetti, Benjamin Dennis, Dylan Gates, Diana Hancock, David Ignell, Elizabeth K. Kiser, Gurubala Kotta, Anna Kovner, Richard J. Rosen, and Nicholas K. Tabor
FEDS Notes
2021, March

Income Responses to the Affordable Care Act: Evidence from a Premium Tax Credit Notch
Bradley T. Heim, Gillian Hunter, Adam Isen, Ithai Z. Lurie, and Shanthi P.Ramnath
Journal of Health Economics
2021, Vol. 76

Exposure to catastrophe risk and use of reinsurance: an empirical evaluation for the U.S.
Alejandro Drexler, and Richard Rosen
The Geneva Papers on Risk and Insurance - Issues and Practice
2020

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Insurance Initiative Team
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