On Some Determinants of Demand or Renunciation for Renewal of CASCO (Motor Hull) Insurance Policies for Individual

Covrig Mihaela,, Mircea Iulian and Manea Daniela Ioana ()
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Covrig Mihaela,: The Bucharest University of Economic Studies, Bucharest, Romania
Mircea Iulian: The Bucharest University of Economic Studies, Bucharest, Romania
Manea Daniela Ioana: The Bucharest University of Economic Studies, Bucharest, Romania

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 1176-1179

Abstract: This paper intends to investigate determinants of demand for renewal or not renewal of CASCO insurance policies for a class of individuals. Using a logistic regression model, we estimated the probability a certain person will not buy a new voluntary insurance policy providing full protection against damages, with data from a non-life insurance from Romania. Also we analyzed the direction in which covariates like the age of the policy holder, the insured amount, gender, auto use age, engine capacity influence the probability of not renewing a CASCO insurance. Due to data availability and confidentiality specified by law, we analyzed separately the dependency between the amount of compensations and the gross written premiums and the number of claims.

Keywords: automobile insurance policies; CASCO; logistic regression. (search for similar items in EconPapers)
JEL-codes: C14 G22 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1176-1179

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