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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Covrig Mihaela, & Mircea Iulian & Manea Daniela Ioana, 2013. "On Some Determinants of Demand or Renunciation for Renewal of CASCO (Motor Hull) Insurance Policies for Individual," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1176-1179, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1176-1179
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    More about this item

    Keywords

    automobile insurance policies; CASCO; logistic regression.;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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