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<p>This study investigates whether economic policy uncertainty can affect corporate insurance demand. Based on panel data of Chinese listed companies from 2009 to 2021, our empirical results indicate that companies increase their demand for property insurance in response to elevated economic policy uncertainty. Mechanism analysis underscores the crucial role of risk awareness and self-protection capacity in corporate insurance decisions. Companies with greater risk awareness or limited capacity for self-protection are more likely to acquire property insurance. Moreover, we find that companies primarily seek insurance protection to navigate the uncertainty stemming from monetary policy, trade policy, and exchange rate policy, rather than fiscal policy. For companies aiming to manage overall risk exposure, our study suggests that insurance can serve as a strategic tool to cope with economic policy uncertainty.</p>

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Economic policy uncertainty and corporate demand for property insurance

  • 期刊论文

  • 发表日期：

    2026年1月19日

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  • Feiyan Yang,
  • Jiahui Ren,
  • Wei He,
  • Tao Li,
  • Changyuan Xia

摘要

This study investigates whether economic policy uncertainty can affect corporate insurance demand. Based on panel data of Chinese listed companies from 2009 to 2021, our empirical results indicate that companies increase their demand for property insurance in response to elevated economic policy uncertainty. Mechanism analysis underscores the crucial role of risk awareness and self-protection capacity in corporate insurance decisions. Companies with greater risk awareness or limited capacity for self-protection are more likely to acquire property insurance. Moreover, we find that companies primarily seek insurance protection to navigate the uncertainty stemming from monetary policy, trade policy, and exchange rate policy, rather than fiscal policy. For companies aiming to manage overall risk exposure, our study suggests that insurance can serve as a strategic tool to cope with economic policy uncertainty.