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Recent Developments in Risk Management and Insurance of Natural Hazards

Roberts, Leigh - 2009

Catastrophe insurance markets have changed beyond recognition since the sudden upturn in claims beginning in 1966. There is now a growing tendency for risk manager to bypass traditional insurance markets, and a variety of instruments designed directly to transfer risk to the financial markets....

Persistent link: https://www.econbiz.de/10013153250

Insurability of Pandemic Risks

Gründl, Helmut; Guxha, Danjela; Kartasheva, Anastasia; … - 2021

The paper analyzes the scope for the private market for pandemic insurance and discusses the potential role of the financial market and the government. Building on a premise that pandemics are classified as catastrophic risks by the insurance industry, we start by providing a framework that...

Persistent link: https://www.econbiz.de/10013237713

The Risk Sharing Implications of Disaster Insurance Funds

Boulatov, Alex; Dieckmann, Stephan - 2011

We study the risk sharing implications that arise from introducing a disaster relief fund to the cat insurance market …. Such a form of intervention can increase efficiency in the private market, and our design of disaster relief suggests a … seller to lower prices to such an extent that her revenues decrease upon introduction of disaster relief. We test two …

Persistent link: https://www.econbiz.de/10014200398

Managing the Risk of Natural Catastrophes : The Role and Functioning of State Insurance Programs

Kousky, Carolyn - 2010

This paper surveys state-mandated programs designed to provide natural catastrophe insurance to property owners and businesses unable to find a policy in the private market. The paper provides an overview of the 10 state programs offering wind or earthquake coverage and outlines the motivation...

Persistent link: https://www.econbiz.de/10014190974

Hybrid cat-bonds

Barrieu, Pauline (contributor); Loubergé, Henri (contributor) - 2007

Natural catastrophes attract regularly the attention of media and have become a source of public concern. From a financial viewpoint, natural catastrophes represent idiosyncratic risks, diversifiable at the world level. But for reasons analyzed in this paper reinsurance markets are unable to...

Persistent link: https://www.econbiz.de/10003550859

Corporate demand for insurance : an empirical analysis of the US market for catastrophe and non-catastrophe risks

Michel-Kerjan, Erwann; Raschky, Paul A.; Kunreuther, Howard - 2009

This paper tests some existing theories developed over the past 25 years on corporate demand for insurance. Using a unique dataset of 1,809 large U.S. corporations it provides the first empirical analysis that compares corporate demand for standard property insurance and for catastrophe coverage...

Persistent link: https://www.econbiz.de/10009733208

Natural hazards insurance in Europe : tailored responses to climate change needed

Schwarze, Reimund; Wagner, Gert G. - 2009

This paper provides an overview on the existing systems of natural hazards insurance in Europe, their structural characteristics and peculiarities. It also discusses the difficulties of an adaptation of these systems to climate change and a growing number of natural disasters. Using the case of...

Persistent link: https://www.econbiz.de/10009733212

Addressing Catastrophic Risks : Disparate Anatomies Require Tailored Therapies

Viscusi, W. Kip - 2012

Catastrophic risks differ in terms of their natural or human origins, their possible amplification by human behaviors, and the relationships between those who create the risks and those who suffer the losses. Given their disparate anatomies, catastrophic risks generally require tailored...

Persistent link: https://www.econbiz.de/10013113513

Cat Bonds and Other Risk-Linked Securities : Product Design and Evolution of the Market

Cummins, J David - 2014

This paper analyzes risk-linked securities as sources of risk capital for the insurance and reinsurance industries. Risk-linked securities are innovative financing devices that enable insurance risk to be sold in capital markets, raising funds that insurers and reinsurers can use to pay claims...

Persistent link: https://www.econbiz.de/10013066708

Natural Disasters, Land Use, and Insurance

Grislain-Letrémy, Céline - 2017

This paper addresses the urbanization of areas exposed to natural disasters and studies its dependency on land-use and insurance policies. The risk-map paradox that we describe explains why an insurance system with simplistic maps and tariffs is the rule. Indeed, in practice we observe simple...

Persistent link: https://www.econbiz.de/10012971784

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