期刊GPRI 2025年50卷第4期目录与摘要｜保险学术前沿

Core Insights - The article discusses various studies related to the insurance industry, focusing on climate risks, employer insurance, reinsurance, and directors' and officers' liability insurance, highlighting their impacts on risk management and corporate performance. Group 1: Climate Risk - Climate risks significantly increase claim ratios for property-casualty insurers in China, with both short-term and long-term risks contributing to this effect [6][7] - There is no substantial evidence that climate risks lead insurers to enhance their risk management practices, such as increasing reinsurance ratios or adjusting geographic business distribution, resulting in a notable negative impact on performance [6][7] - The adverse effects of climate risks are more pronounced in smaller insurers, those with lower reinsurance coverage, or those with a high concentration of business in specific regions [6][7] Group 2: Employer Insurance - Companies that implement supplementary pension insurance programs (SPIPs) and invest heavily in them exhibit significantly lower operational risks compared to those that do not or invest less [9][10] - The risk-reducing effect of SPIPs is more significant in firms with higher-educated employees, primarily through improved employee retention [9][10] - The study highlights the importance of SPIPs not only as a form of retirement insurance but also as a crucial factor in reducing operational risks [9][10] Group 3: Reinsurance - The duration of the insurer-reinsurer relationship is positively correlated with underwriting performance, with insurers realizing benefits from these relationships only after approximately three years [8][17] - Long-term reinsurance relationships are essential for underwriting, suggesting strategies for sustainable development in the insurance sector [8][17] - Reinsurance is associated with reduced absolute values of actual and target leverage deviations, indicating that it helps insurers align their actual leverage with target levels [16][17] Group 4: Directors' and Officers' Liability Insurance - Companies with directors' and officers' liability insurance (D&O insurance) are more likely to capitalize R&D expenditures, with management's risk appetite being a key factor in this process [12][13] - The effect of D&O insurance on R&D capitalization is stronger under high financing and performance pressures but weaker when effective monitoring mechanisms are in place [12][13] - D&O insurance significantly enhances corporate social responsibility (CSR) performance in state-owned enterprises, functioning as a policy-embedded accountability mechanism [13][14]