ArticleRisk management and insurance review2021
The short-run impact of COVID-19 on the activity in the insurance industry in the Republic of North Macedonia.
Article in Risk management and insurance review, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 2 papers.
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
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Who cites it
2 citing papers in PubMed, 3 citations in OpenAlex.
- The impacts of COVID-19 on China insurance industry-An empirical analysis based on event study.Frontiers in public health · 2022Article
- The short-run impact of COVID-19 on the activity in the insurance industry in the Republic of North Macedonia.Risk management and insurance review · 2021Article
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Authors and funding
3 authors at 1 institution in 1 country.
Funding
No grant is acknowledged in the PubMed record.
Abstract
Recent studies suggest that the COVID-19 pandemic will induce drastic changes in the business models of the insurance industry. However, despite an abundance of predictions, the literature still lacks empirical investigations of the impact of the pandemic. In this paper, we perform a first of a kind analysis and investigate the short-run impact of COVID-19 on the activity in the insurance in one country-North Macedonia. By utilizing a seasonal autoregressive model, we find that during the first half of 2020, the activity in the insurance industry shrank by more than 10% to what was expected. The total loss in the industry amounted to approximately 8.2 million euros. This was much less than the volume of reserves that the Insurance Supervision Agency made available as funds for dealing with the potential crisis. In addition, the pandemic induced changes in the insurance activity structure-the share of motor vehicles class in the total industry activity fell at the expense of the property classes. Our results suggest that the insurance industry in North Macedonia was well prepared to tackle the consequences of the pandemic and that automatic stabilizers had a major influence on weakening the overall negative impact.
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Registered trials
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