The purpose of this paper is to examine the financial operations of the state guaranty associations in the property/casualty field to assess their adequacy to meet future insolvencies. The extraordinary insurer insolvencies in the last half of the 1 980s receive special attention. Proposals for...

Natural calamities have been causing mankind havoc for ages. Hurricanes, tornadoes, riverine flooding, earthquakes and a number of lesser extreme events have wrought death and destruction worldwide. In the United States, disasters have historically elicited an outpouring of sympathy and material...