The financing of catastrophe risk
Author(s)
Bibliographic Information
The financing of catastrophe risk
(A National Bureau of Economic Research project report)
University of Chicago Press, 1999
Available at 55 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
A collection of papers written for this volume and for the conference, "The Financing of Property Casualty Risks," organized by the editor under the auspices of the National Bureau of Economic Research and its Insurance Program
Includes bibliographies and indexes
Description and Table of Contents
Description
With ever increasing property-casualty risks and unabated growth in hazard-prone areas, insurers and reinsurers now envision the possibility of disaster losses of 50 to 100 billion dollars in the United States. Against this backdrop, the capitalization of the insurance and reinsurance industries has become a crucial concern. While it remains unlikely that a single event might entirely bankrupt these industries, a big catastrophe could place firms under severe stress, jeopardizing both policy holders and investors and causing profound ripple effects throughout the U.S. economy. This book explores the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays aim to offer means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.
Table of Contents
Acknowledgments Introduction Kenneth A. Froot 1. Insurer Demand for Catastrophe Reinsurance Anne Gron Comment: Steven F. Goldberg Comment: Raghuram Rajan 2. Alternative Means of Redistributing Catastrophic Risk in a National Risk Management System Christopher M. Lewis and Kevin C. Murdock Comment: Peter Diamond Comment: Paolo M. Pellegrini 3. Pricing Excess-of-Loss Reinsurance Contracts against Catastrophic Loss J. David Cummins, Christopher M. Lewis, and Richard D. Phillips Comment: Sanjiv Ranjan Das Comment: James A. Tilley 4. Challenges Facing the Insurance Industry in Managing Catastrophic Risks Paul R. Kleindorfer and Howard C. Kunreuther Comment: James R. Garven Comment: Dwight Jaffee 5. The Pricing of U.S. Catastrophe Reinsurance Kenneth A. Froot and Paul G. J. O'Connell Comment: Jeremy C. Stein 6. Reinsurance for Catastrophes and Cataclysms David M. Cutler and Richard J. Zeckhauser Comment: John H. Cochrane 7. The Influence of Income Tax Rules on Insurance Reserves David F. Bradford and Kyle D. Logue Comment: Ross J. Davidson Jr. Comment: James R. Hines Jr. 8. Courting Disaster? The Transformation of Federal Disaster Policy since 1803 David A. Moss Comment: Clement S. Dwyer Jr. Comment: R. Glenn Hubbard 9. The Moral Hazard of Insuring the Insurers James G. Bohn and Brian J. Hall Comment: Christopher M. McGhee Comment: David Scharfstein 10. Index Hedge Performance: Insurer Market Penetration and Basis Risk John A. Major Comment: Andre F. Perold 11. Panel Discussions Contributors Author Index Subject Index
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