In Long‐Term Property Insurance, risk management experts Dwight Jaffee, Howard Kunreuther, and Erwann Michel‐Kerjan, Risk Management and Decision Processes Center, The Wharton School of the University of Pennsylvania, April 2010, write:
This paper proposes long-term insurance (LTI) as an alternative to the standard annual property insurance policy. LTI offers significant benefits to many stakeholders by reducing insurers’ administrative costs, lowering search costs, providing stability to consumers and incentivizing property owners to invest in risk-reducing measures.
Read more: http://opim.wharton.upenn.edu/.