04329nam 2200697Ia 450 991095906020332120200520144314.09786611223489978128122348712812234849780226266251022626625710.7208/9780226266251(CKB)1000000000398726(EBL)408529(OCoLC)437248237(SSID)ssj0000155126(PQKBManifestationID)11161818(PQKBTitleCode)TC0000155126(PQKBWorkID)10113073(PQKB)10652648(MiAaPQ)EBC408529(DE-B1597)535829(OCoLC)781254962(DE-B1597)9780226266251(Au-PeEL)EBL408529(CaPaEBR)ebr10216899(CaONFJC)MIL122348(Perlego)1972217(EXLCZ)99100000000039872619980923d1999 uy 0engurun#---|u||utxtccrThe financing of catastrophe risk /edited by Kenneth A. Froot1st ed.Chicago University of Chicago Press19991 online resource (490 p.)A National Bureau of Economic Research project reportA 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.9780226266237 0226266230 Includes bibliographical references and indexes.Front matter --National Bureau of Economic Research --Relation of the Directors to the Work and Publications of the National Bureau of Economic Research --Contents --Acknowledgments --Introduction --1. Insurer Demand for Catastrophe Reinsurance --2. Alternative Means of Redistributing Catastrophic Risk in a National Risk-Management System --3. Pricing Excess-of-Loss Reinsurance Contracts against Catastrophic Loss --4. Challenges Facing the Insurance Industry in Managing Catastrophic Risks --5. The Pricing of U.S. Catastrophe Reinsurance --6. Reinsurance for Catastrophes and Cataclysms --7. The Influence of Income Tax Rules on Insurance Reserves --8. Courting Disaster? The Transformation of Federal Disaster Policy since 1803 --9. The Moral Hazard of Insuring the Insurers --10. Index Hedge Performance: Insurer Market Penetration and Basis Risk --11. Panel Discussions --Contributors --Author Index --Subject IndexIs it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed0 billion was unthinkable. 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 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. The Financing of Catastrophe Risk assembles an impressive roster of experts from academia and industry to explore the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays offer tangible means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.National Bureau of Economic Research project report.Casualty insuranceUnited StatesDisaster insuranceUnited StatesCasualty insuranceDisaster insurance368.12/201/0973Froot Kenneth133079MiAaPQMiAaPQMiAaPQBOOK9910959060203321The financing of catastrophe risk4361205UNINA