Table 10.

COVID-19 Case Origin Disclosure and Insurance Take-up: The Moderating Role of Population Characteristics

This table examines the moderating effect of the local population characteristics on the response of the take-up of COVID-19 insurance to local public disclosure of case origins (Disclose (t-1), a dummy that equals one for having such origin disclosure). Each observation refers to a prefecture-day combination. 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. Control variables in Table 2 are also included but not tabulated. Population characteristics are only available at the province level in 2018. A High Ratio is a dummy variable that equals one if the variable is higher than the median of the province-level variable in 2018.

	(1)	(2)	(3)	(4)
Y =	lnPolicies		lnPremiums
Disclose (t-1) (b1)	0.013	−0.005	0.011	0.014
	(0.020)	(0.026)	(0.031)	(0.032)
Disclose (t-1) × High Above 65 Ratio (b2)	0.037		0.091**
	(0.028)		(0.038)
Disclose (t-1) × High Senior Dependency Ratio (b2)		0.051*		0.078**
		(0.031)		(0.039)
Control variables in Table 2	Y	Y	Y	Y
Controls × High Above 65 Ratio	Y		Y
Controls × High Old Dependency Ratio		Y		Y
Prefecture & Day FEs	Y	Y	Y	Y
b1 + b2	0.050***	0.046***	0.102***	0.092***
P-value of testing (b1+b2)	0.008	0.004	0.000	0.000
Observations	9150	9150	9150	9150
Adjusted R-squared	0.756	0.757	0.887	0.887