In the last decade one can identify several accidents which can be classified as large scale accidents of a catastrophic dimension. After such a catastrophe the compensation of victims is of crucial importance and governments often intervene in this compensation. However, the organization of...

Under the influence of climate-related extremes, the world is exposed to more and more catastrophe risks. Regulation by insurance may help realize the goal of mitigating catastrophe risk and the following losses. I explore five regulatory tools — risk-based pricing, contract design, loss...

Although the insurance industry demonstrates a growing concern about the severe rise in losses from natural disasters, only about one third of all potential victims have in fact purchased first-party catastrophe insurance. Although first-party insurance has several advantages, we find that there...