Corporate Insurance Versus Risk Retention: An Empirical Analysis of Medium and Large Companies in Poland
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The aim of the article is to identify the determinants of what risk retention technique companies select in the context of property insurance demand. The analysis was based on the assumption that it is possible to seek motives for retention among the determinants of companies’ demand for insurance. Empirical data collected from a survey of a representative sample of medium and large enterprises operating in Poland provided valuable feedback for the research. An econometric model was built to identify factors considered when a company is deciding to employ partial insurance or total non-insurance, and determinants of the selection of risk retention technique. It considers not only company financial figures, but also information on the current insurance programme it has in place and the satisfaction it expresses with regard to its insurance services.
Keywordsdemand for corporate insurance risk retention risk management Poland property insurance
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