Twenty years ago, the French created a so far unique insurance scheme to cover damages due to natural catastrophes. This so-called ''Cat-Nat system'' combines private insurance industry, a state-guaranteed public reinsurance and the Treasury. We provide a simple game-theoretic model which seems...

During the last few years, the connection of complex networks has accelerated in a spectacular manner. Some of the advantages of this increasing use are well-known and are studied by theoretical works (network externalities). Nevertheless, this interconnection has created new types of risks...