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The purpose of this paper is to analyse the association between farm/farmer characteristics and unsubsidized farm insurance premium expenditure in Ireland. The distribution of farm insurance expenditures is wide, and it is important to understand the extent to which individual factors influence demand for different levels of insurance premium.

The quantile regression approach and farm accountancy data from the Teagasc National Farm Survey are used to model the association between farm/farmer characteristics and farm insurance demand in Ireland.

Asset values (livestock, buildings and machinery) are positively associated with total insurance expenditure. Both forestry area and crop area are significantly associated with farm insurance expenditure with a stronger influence on the middle and upper part of the distribution. The interaction between farm income and farmer age is positively associated with insurance expenditure pointing to the importance of farm income protection.

The research is mainly concerned with insuring against substantive risks, which are capable of threatening the asset base and continuation of the farm business. Future research can integrate questions in relation to farm safety and farmer health with research on the economic survival of the farm business.

Farmers in Ireland adopt unsubsidized farm insurance as a risk management tool. This situation is relevant to other EU member states including Belgium, Denmark, Germany and Sweden. The findings can be used to inform stakeholders and policymakers about the relative impact of different factors on insurance expenditure.

Previous research has typically focused on the linear relationship between farm/farmer characteristics and insurance demand without accounting for variability across the size distribution. This research is based on the quantile regression approach where the association between farm/farmer characteristics and farm insurance expenditure can be assessed at different points of the distribution.

Given the increasing importance of engineering insurance, it is still unclear which specific factors can enhance the role of engineering insurance as a risk transfer tool. This study aims to propose a hybrid approach to identify and analyze the key determinants influencing the consumption of engineering insurance in mainland China.

The empirical analysis utilizes provincial data from mainland China from 2008 to 2019. The research framework is a novel amalgamation of the generalized method of moments (GMM) model, the quantile regression (QR) technique and the random forest (RF) algorithm. This innovative hybrid approach provides a comprehensive exploration of the driving factors while also allowing for an examination across different quantiles of insurance consumption.

The study identifies several driving factors that significantly impact engineering insurance consumption. Income, financial development, inflation, price, risk aversion, market structure and the social security system have a positive and significant influence on engineering insurance consumption. However, urbanization exhibits a negative and significant effect on the consumption of engineering insurance. QR techniques reveal variations in the effects of these driving factors across different levels of engineering insurance consumption.

This study extends the research on insurance consumption to the domain of the engineering business, making theoretical and practical contributions. The findings enrich the knowledge of insurance consumption by identifying the driving factors specific to engineering insurance for the first time. The research framework provides a novel and useful tool for examining the determinants of insurance consumption. Furthermore, the study offers insights into the engineering insurance market and its implications for policymakers and market participants.

This study aims to investigate the relationship between boardroom gender diversity (BoGD) and risk-taking by property-liability (P-L) stock insurers from an analytical framework that control for organizational form and ownership structure. It relies on the behavioral agency model, the resource dependency theory and the concept of socioemotional wealth (SEW).

This study builds on an unbalanced panel of 2,285 firm-year observations from 232 European and US P-L stock insurers covering the period 2010–2019 and measure risk-taking by using four proxies: total risk (TR), upside risk (UpR), downside risk (DwR) and default risk (DR). Reverse causality and endogeneity concerns are treated by applying different approaches.

Findings suggest that BoGD mitigates the TR, DwR and DR but does not interfere with the UpR, which conceptualizes firm expectations to enhance patrimony and safeguard SEW for heirs, especially in family-owned insurers. The findings hold in various robustness checks including endogeneity and alternative specifications of BoGD and risk-taking.

This study contributes to practice by contrasting the role of female directors’ bevahior when assuming risk, which seems significantly different depending on the risk-taking specification and the organizational form. The author advises policyholders and policymakers to look at closely on BoGD and ownership structure as they affect insurance company risk-taking.

This study takes a more direct approach to highlight the BoGD’s effect on corporate risk-taking by focusing on the insurance sector which is characterized by risk and uncertainty bearing. To the best of the author’s knowledge, this is the first study to consider the full range of the stock organizational forms and the degree of family control in displaying this effect in both widely traded and closely traded insurers and to assess risk-taking from both market-based and accounting-based aspects.

Utilizing the expectation states theory in sociology, this study probes into the influence of the board's informal hierarchy on the quality of enterprise innovation, originating from the perspective of internal directorial interactions, while analyzing the boundary effects exhibited by the nature of property rights and the intensity of geo-culture.

The study selects China's A-share listed companies from 2008 to 2021 as the research sample, employing the Tobit regression analysis method to scrutinize the hypotheses presented in the text.

The regression results demonstrate a positive correlation between the board's informal hierarchy and the enterprise innovation quality (EIQ). Upon introducing variables specific to property rights and geographical culture, the authors found that in comparison to non-state-owned enterprises (non-SOEs), the influence of the board's informal hierarchy on the quality of corporate innovation is diminished in SOEs. Conversely, the intensity of geo-culture across Chinese provinces enhances their mutual positive influence. In the additional analysis, the authors also found that the elevation of corporate risk tolerance is a significant pathway for the positive effect of the board's informal hierarchy on EIQ. Moreover, this positive influence is more profound in high-tech enterprises, businesses implementing equity incentive plans and companies that have subscribed to director and officer liability insurance.

The findings not only deepen the understanding of how the board's internal status characteristics influence corporate decision-making but also enrich the application scope of expectation states theory. Furthermore, this study offers valuable guidance for optimizing innovation decision-making by adjusting the personnel structures of corporate boards.

The purpose of this paper is to assess the current legal framework on money laundering control in the insurance sector. Essentially, this examination is premised on the interrogation of whether it is still appropriate for Mauritius to apply such stringent, opaque and unyielding Anti-Money Laundering/Combating Financing of Terrorism norms and rules on general insurance when developed nations such as the UK and Singapore have done away with them for a more effective combat against money laundering. It would also be assessed why the financial services commission (FSC) is not able to draw inspiration from its British and Singaporean counterparts in fighting money laundering more effectively.

This paper uses the doctrinal legal research methodology which is colloquially described as “black-letter law” approach. It is backed up by a contextual legal analysis that is based on an analysis of relevant legal provisions. It relies ground experience from the insurance industry through the experience of the authors. A comparative approach is used with Singapore and the UK as case studies given that there are significant commonalities to the Mauritian jurisdiction as well as useful differences.

It is observed that a move towards a de-regulation of the legal framework on money laundering in the insurance sector with a more relaxed approach is more effective for the Mauritian insurance sector. Evidence is drawn from the Singaporean and British models. A re-structuring of the FSC of Mauritius is also warranted for such an approach to be adopted.

This paper is among the first academic contribution that proposes a de-regulation and the adoption of a relaxed approach of and by the Mauritian Insurance Industry for a more effective combat against money laundering. It serves as a legal foundational basis for further research in this direction.

Home insurance is widely recognised as a tool for mitigating economic risk associated with natural disasters. This study aims to analyse the influence of homeowners’ home insurance knowledge (both objective and subjective types), perceived benefits (PB) and perceived vulnerability towards disaster loss (PVUL) on their intention to purchase (ITP).

This research makes use of survey data collected from 394 respondents (the homeowners) residing in various parts of India. The structural equation modelling is used to verify 11 hypotheses proposed in the study.

The findings indicate that both objective knowledge (OK) and subjective knowledge (SK) of home insurance have significant influence on homeowners’ benefit perception and PVUL. The homeowners’ PB of home insurance negatively affect PVUL. The OK of home insurance has a stronger influence on homeowners’ ITP home insurance than SK while the homeowners benefit perceptions and PVUL significantly affects homeowners’ ITP home insurance. These findings confirms that if homeowners are knowledgeable about home insurance, they perceive the plans as more beneficial and feel less vulnerable about catastrophic events, resulting in positive intentions towards purchasing them.

To the best of the authors’ knowledge, this is the first comprehensive research that assesses the Indian homeowners’ knowledge, PB and PVUL in influencing their ITP home insurance. The finding of this paper will assist both public and private insurance companies in India and similar markets in designing and implementing effective strategies to sell home insurance policies.

The purpose of this study is to examine whether variation in franchising across US states can be explained by differences in state regulatory burdens.

Three years of US state-level panel data is used on measures of franchising activity published by the International Franchise Association. The authors measured variation in regulatory burdens across state governments using the regulatory freedom index, developed by the Cato Institute. Multiple regression analysis was the statistical technique used.

Controlling for state-level per capita personal income, educational attainment, unemployment and share of population identifying as non-white, the authors find states with fewer regulatory burdens for business owners have more franchises and franchise jobs per 100,000 residents, higher franchise output per capita and a larger share of small businesses are franchises. These results were robust to alternative econometric specifications. The results support our hypothesis that states with lower regulatory burdens will have more franchising activity.

Only three years of data are currently available; however, our research provides some practical avenues for managers and policy makers to explore when considering new franchise opportunities or developing policies that impact regulatory burdens for small businesses.

This study contributes to the literature by providing supporting evidence for the relationship between US state institutional factors and franchised small businesses, and it adds a cross-state study to the existing literature using cross-country and cross-city data.

This study empirically investigates the impact of directors' and officers' liability insurance on corporate environmental investment.

This paper takes A-share listed firms in the most polluting industries from 2013 to 2019 as the research sample. The authors perform multiple regression analysis to examine the research question, and other approaches such as PSM and Heckman two-stage model are applied to test the robustness of the main results.

The authors find that D&O insurance insured firms significantly decrease the level of corporate environmental investment. The results keep consistent after alleviating potential endogenous concerns. Further analysis shows that the negative association between D&O insurance and environmental investment is more pronounced in firms facing greater environmental pressure and stronger market supervision, and firms located in regions with a rich legal environment.

This research extends the literature on the antecedents of corporate environmental investment and the consequences of D&O insurance.

The study may deepen people's understanding of D&O insurance and inform them of its negative effects. This research sheds light on the potential factor resulting in a relatively low level of corporate environmental investment in China, which has an important policy implication for government to carry out some regulations to make a difference.

Against the backdrop that more importance has been attached to environmental protection globally, this paper is the first study to examine the impact of D&O insurance on corporate environmental investment in the context of the transitional and emerging market-China.

Insurance companies play a significant role in every economy; hence, it is essential to investigate and understand the factors that propel their profitability. Unlike previous studies that present a linear relationship, this study provides initial evidence by exploring the non-linear impacts of the determinants of profitability amongst life insurers in South Africa.

The study uses a panel dataset of 62 life insurers in South Africa, covering 2013–2019. The generalised method of moments and the dynamic panel threshold estimation technique were used to estimate the relationship.

The empirical results from the direct relationship reveal that investment income and solvency significantly predict life insurance companies' profitability. On the other hand, underwriting risk, reinsurance and size reduce profitability. Further, the dynamic panel threshold analysis confirms non-linearities in the relationships. The results show that insurance size, investment income and solvency promote profitability beyond a threshold level, implying a propelling effect on life insurers' profitability at higher levels. Below the threshold, these factors have an adverse effect. The study further points to underwriting risk, reinsurance and leverage having a reduced effect on life insurers' profitability when they fall above the threshold level.

The findings suggest that insurers interested in boosting their profit position must commit more resources to maintain their solvency and manage their assets and returns on investment. The study further recommends that effective control of underwriting risk is critical to the profitability of the life insurance industry.

The study contributes to the literature by providing first-time evidence on the determinants of life insurance companies' profitability by way of exploring threshold effects in South Africa.