Table 5.

COVID-19 Case Origin Disclosure and Insurance Take-up before and after February 12

This table reports how the take-up of COVID-19 insurance responds to local public disclosure of case origins using the period between January 22 and February 11 in which the increase in the supply of COVID-19 insurance is less dramatic, and after February 12 as robustness checks. February 12 is not included in either sub-period because there was a structural change in the case reporting criteria in Hubei province on that day. Thus, February 12 was a reporting regime transition day. All controls are lagged by one day relative to the measurement of the dependent variable. Robust standard errors in parentheses are clustered at prefecture cities. All regression models include a constant and its estimates are not tabulated for brevity. *** p < 0.01, ** p < 0.05, * p < 0.1.

	(1)	(2)	(3)	(4)
	Before February 12		After February 12
Y =	lnPolicies	lnPremiums	lnPolicies	lnPremiums
Disclose (t-1)	0.038**	0.048**	0.055***	0.065*
	(0.015)	(0.022)	(0.017)	(0.035)
lnConfirmed (t-1)	0.032***	−0.025*	0.027**	−0.018
	(0.010)	(0.014)	(0.011)	(0.022)
lnDead (t-1)	0.088	0.071*	0.020	−0.038
	(0.076)	(0.042)	(0.024)	(0.055)
lnProvConfirmed (t-1)	−0.006	0.007	−0.003	−0.012
	(0.009)	(0.015)	(0.004)	(0.014)
Prefecture FEs	Y	Y	Y	Y
Day FEs	Y	Y	Y	Y
Observations	3390	3390	5421	5421
Adjusted R-squared	0.712	0.921	0.838	0.857