Showing 1 - 10 of 250
This study presents an easy-to-handle approach to measuring the severity of reinsurance that faces a system of dependent claims, where the reinsurance contracts are of excess loss or proportional loss. The proposed approach is a natural generalization of common reinsurance methodologies...
Persistent link: https://www.econbiz.de/10014246287
Since the 1990s, efforts have been made to reduce the damage caused by natural disasters, among which the Disaster … established as an important model for Korea's disaster risk reduction activities. …
Persistent link: https://www.econbiz.de/10012703963
Nat Cat risks are not insurable by traditional insurance mainly because of producing highly correlated losses. The source of such correlation among buildings of a region subject to a natural hazard is discussed. A decomposition method is proposed to split Nat Cat risk into idiosyncratic (and...
Persistent link: https://www.econbiz.de/10012705095
mechanisms by studying the feedback loops governing complex systems connected to the disaster insurance mechanism. Instead of … addressing the disaster's underlying risk, the traditional disaster insurance strategy largely focuses on providing financial … security for asset recovery after a disaster. This constraint becomes especially concerning as the threat of climate …
Persistent link: https://www.econbiz.de/10014497445
community resilience to disaster consequences. Development practitioners, planners, and researchers must find novel techniques … minimize disaster risk in communities. People’s standards, beliefs, and behaviors are greatly influenced by societal … study confirmed that the school curriculum has a positive and significant relationship with disaster risk management. Many …
Persistent link: https://www.econbiz.de/10013359125
Shot-noise processes generalize compound Poisson processes in the following way: a jump (the shot) is followed by a decline (noise). This constitutes a useful model for insurance claims in many circumstances; claims due to natural disasters or self-exciting processes exhibit similar features. We...
Persistent link: https://www.econbiz.de/10010338102
The rapid growth over recent decades of the impact of natural disasters on economies, especially in vulnerable areas, urges stakeholders to promote innovative solutions involving risk transfers that account for the new risk exposures. These proposed solutions are designed to optimize and...
Persistent link: https://www.econbiz.de/10013161504
We examine how sensitive the new performance indexes incorporating high moments and disaster risk are to disaster risk …. The new performance indexes incorporating high moments and disaster risk are the Aumann-Serrano performance index and … underlying risk. We show, by numerical examples and empirical examples, how sensitive these indexes are to disaster risk …
Persistent link: https://www.econbiz.de/10012483189
This paper models the gradual elements of catastrophic events on non-life insurance capital with a particular focus on the impact of pandemics, such as COVID-19. A combination of actuarial and epidemiological models are handled by the Markovian probabilistic approach, with Feynman's path...
Persistent link: https://www.econbiz.de/10012391664
the US shows that there is an increasing trend in annul natural disaster losses after 1980. Climate change is recognized … and risk prevention as this trend continues. In this paper, we convert natural disaster losses to the year 2016 dollars … outperforms the other two composite distributions in modeling natural disaster losses. Important risk measures for natural …
Persistent link: https://www.econbiz.de/10012422965