L'assurance immobilière en Grande-Bretagne

Thomas VON UNGERN-STERNBERG

Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) from Université de Lausanne, Faculté des HEC, DEEP

Abstract: The paper studies property insurance in Britain. It emphasises the following points. In the case of terrorism insurance the government decided to provide cost free stop loss insurance, to prevent the market from breaking down. When the country was hit by subsidence damages, the premiums and excesses for the owners concerned rose dramatically. The fact that contracts can be renegotiated every year, means that the owners have only a very incomplete insurance cover. In Montserrat the insurance companies simply decided to cancel all their policies, when it became clear that the volcano might well destroy every building on the island.

Keywords: Britain; property insurance; terrorism; risk selection; subsidence; duration of insurance contracts (search for similar items in EconPapers)
JEL-codes: H4 L8 D82 G22 L51 (search for similar items in EconPapers)
Date: 1998-12

Published in Thomas von Ungern-Sternberg, L'Assurance Immobilière en Europe : les Limites de la Concurrence, Economica, Paris, 2002, pp. 13-43

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