Cummins, J. David; Dionne, Georges; Gagné, Robert; … - Institut d'Économie Appliquée, HEC Montréal (École … - 2008
potential of
large catastrophic losses and the cyclical nature of the insurance business exacerbate the
incentives conflict … written in each type of business and the
growth rate of business concentration and geographic concentration. The results show … business.
However, the commission is also determined by the nature and composition of the insured
business and by the …