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In the aftermath of a natural catastrophe, there is increased demand for skilled reconstruction labor, which leads to significant increases in reconstruction labor wages and hence insured losses. Such inflation effects are known as "Demand Surge" effects. It is important for insurance companies...
Persistent link: https://www.econbiz.de/10010363108
associated with a stronger relationship between premiums and local disaster risk: A one standard-deviation increase in disaster …-through of reinsurance costs. Third, we project that if the reinsurance shock persists, growing disaster risk will lead climate …
Persistent link: https://www.econbiz.de/10014576608
proposition that ex ante risk transfer policies are more efficient than ex post disaster relief. -- natural hazards ; growth …
Persistent link: https://www.econbiz.de/10009731161
Cummins, Doherty, and Lo (2002) present a theoretical and empirical analysis of the capacity of the property liability insurance industry in the U.S. to finance catastrophic losses. In their theoretical analysis, they show that a sufficient condition for capacity maximization is for all insurers...
Persistent link: https://www.econbiz.de/10013405928
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The high and increasing cost of natural disasters around the world motivates a growing body of literature on the role … of natural disaster insurance in adapting to climate change. This chapter reviews current challenges in both public and … private natural disaster insurance markets in the United States and how the nature of these challenges has changed over the …
Persistent link: https://www.econbiz.de/10014281392
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Introduction: Insurance and the problem of loss in a climate-changed United States -- Transforming the management of loss : the origins of the National Flood Insurance Program -- Losing ground : values at risk in an American floodplain -- Visions of loss : knowing and pricing flood risk --...
Persistent link: https://www.econbiz.de/10012229882
In case of a natural catastrophe there is an increased demand for skilled labor and materials which in turn leads to significant price increases that should be taken into account in the forecast of catastrophe losses. Such price effects are referred to as "Demand Surge" effects. The paper at...
Persistent link: https://www.econbiz.de/10009712472