can also be offered by hedge funds. In principle, traditional reinsurance contracts are still preferred as a measure of … retrocession reinsurance market. There has been no comprehensive analysis of these instruments in academic literature to date …

Purpose – Using a game-theoretic model of insurance markets, Powers and Shubik in 2001 derived a mathematical … primary insurers and reinsurers existing in a range of 18-20 different national insurance markets over a period of 11 years … is high, there is a greater supply of reinsurance to provide capacity to primary insurers. Originality/value – An …

be an important advancement in pricing them for insurance/reinsurance purposes. In the absence of a realistic physical … reinsurance timeframe criterion in mind was used to define outbreaks. These outbreaks are used in a Monte-Carlo simulation process …

Purpose – This article aims to examine the risk inherent in the insurance of the aviation industry, to take an outsider … industry presents a classic low-frequency/high-limit insurance problem. Pricing such exposures is difficult because of the high … degree of uncertainty involved. After a review of the considerations that an insurance underwriter traditionally brings to …

countries studied. Originality/value – With the exception of two studies examining the impact of reinsurance on insurance prices …Purpose – This article aims to examine the existence of an underwriting cycle in property-liability insurance for … France, Germany and Switzerland (primary markets) and for the European reinsurance industry. It is also aimed to test how the …

Purpose – Demonstrates the feasibility of, and introduces a practical approach to enhancing, reinsurance efficiency … using index-based instruments. Design/methodology/approach – First reviews the general mathematical framework of reinsurance … optimization. Next, illustrates how index-based instruments can potentially enhance reinsurance efficiency through a simple yet …

to test for significant cycles in insurance data. The US underwriting cycle is measured using the growth rates of real … cycles in insurance data. Findings – All approaches find empirical evidence for a cyclical behaviour of the growth rates of … additional testing procedures, helpful to detect significant cycles in insurance time series. The underwriting cycle is analysed …

contemplating the purchase of a ticket. A real option model is applied to value insurance contracts that could be offered to … passengers to cope with price risk. Furthermore, the premiums charged for such airfare price insurance contracts can augment … price insurance contracts. Findings – Airfare price insurance contracts affordability was demonstrated ranging from 1.55 to …

the estimation of two fundamental actuarial quantities of property-liability insurance – the expected individual loss … characterizes it as a semi-uncertainty principle. This principle is likely to result in certain economic behaviors by insurance …

index insurance by studying the fundamental causes for differences in weather risk between distributed locations. Design …/methodology/approach – The paper systematically compares insurance payouts at nearby locations based on differences in geographical … location. Originality/value – Spatial basis risk is a fundamental problem of index insurance and yet is still largely …