Motivated by the results of the field experiment in the United Sates to distinguish two sources of ambiguity and its relation with the robust learning theory, we propose an insurance pricing formula to accommodate the ambiguity types in the robust learning framework. Based on the field...

Economic and insured losses from natural catastrophes have increased significantly in recent years and are challenging the way catastrophe risk insurance markets operate today. This chapter focuses on how insurance in combination with other policy tools can reduce losses from natural disasters...