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: Belgium, Denmark, Ireland, Germany, the Netherlands, Norway and Italy for the year 1992. Based on the estimation of a …
Persistent link: https://www.econbiz.de/10013218733
,187 homeowners, half of whom are in the Netherlands, where flood insurance penetration rates are low and recent flooding caused minor … among homeowners with little to no flood-related experience: in the Netherlands defaults increase the likelihood of insuring …
Persistent link: https://www.econbiz.de/10013291783
Using a unique dataset of insurance decisions by over 1,800 large U.S. corporations, this study provides the first empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism). We combine demand and supply data and apply a...
Persistent link: https://www.econbiz.de/10013120307
A principal reason that losses from catastrophic risks have been increasing over time is that more individuals and firms are locating in harm's way while not taking appropriate protective measures. Several behavioural biases lead decision-makers not to invest in adaptation measures until after...
Persistent link: https://www.econbiz.de/10013104996
This paper examines the optimal design of insurance and reinsurance policies. We first consider reinsurance for catastrophes: risks which are large for any one insurer but not for the reinsurance market as a whole. Reinsurance for catastrophes is complicated by adverse selection. Optimal...
Persistent link: https://www.econbiz.de/10012763666
This paper uses a dynamic optimization model to estimate the welfare gains that a small open economy can derive from insuring against natural disasters with catastrophe (CAT) bonds. We calibrate the model by reference to the risk of earthquakes, floods and storms in developing countries. We find...
Persistent link: https://www.econbiz.de/10013013167
on take-up than does the disaster experience …
Persistent link: https://www.econbiz.de/10012987122
which a disaster insurance program should be based. Section 3 then focuses on the second question by analyzing the …. Section 4 turns to the third question and delineates the opportunities and challenges of a comprehensive disaster insurance … program. Section 5 poses a set of open issues that are currently being addressed by a research project on disaster insurance …
Persistent link: https://www.econbiz.de/10012755475
regional-level mitigation or adaptation, which reduces disaster risks to capital in the interim. Mitigation depends on belief … regarding the adverse consequences of global warming. Pessimism jumps with a disaster and slowly reverts in the absence of … increasing cyclone frequency. For a typical country exposed to cyclones, a disaster arrival not only damages its capital stock …
Persistent link: https://www.econbiz.de/10013311024
The Messina-Reggio Calabria Earthquake (1908) was the most devastating natural disaster in modern European history. It …
Persistent link: https://www.econbiz.de/10013299202