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Catastrophe Insurance, Capital Markets and Uninsurable Risks

Citations

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Cited by:

  1. Merrifield, John, 2002. "A general equilibrium analysis of the insurance bonding approach to pollution threats," Ecological Economics, Elsevier, vol. 40(1), pages 103-115, January.
  2. Aglaia Petseti & Milton Nektarios, 2012. "Proposal for a National Earthquake Insurance Programme for Greece," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 37(2), pages 377-400, April.
  3. Beer, Simone & Braun, Alexander & Marugg, Andrin, 2019. "Pricing industry loss warranties in a Lévy–Frailty framework," Insurance: Mathematics and Economics, Elsevier, vol. 89(C), pages 171-181.
  4. Arthur Charpentier & Benoît Le Maux, 2010. "Natural Catastrophe Insurance: When Should the Government Intervene?," Working Papers hal-00536925, HAL.
  5. Steven Shavell, 2014. "A general rationale for a governmental role in the relief of large risks," Journal of Risk and Uncertainty, Springer, vol. 49(3), pages 213-234, December.
  6. Bjoern Hagendorff & Jens Hagendorff & Kevin Keasey, 2013. "The Shareholder Wealth Effects of Insurance Securitization: Preliminary Evidence from the Catastrophe Bond Market," Journal of Financial Services Research, Springer;Western Finance Association, vol. 44(3), pages 281-301, December.
  7. Meuwissen, Miranda P.M. & Huirne, Ruud B.M., 1998. "Feasibility Of Income Insurance In European Agriculture," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20947, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  8. Poontirakul, Porntida & Brown, Charlotte & Noy, Ilan & Seville, Erica & Vargo, John, 2016. "The role of commercial insurance in post-disaster recovery: Quantitative evidence from the 2011 Christchurch earthquake," Working Paper Series 4980, Victoria University of Wellington, School of Economics and Finance.
  9. Torben Andersen, 2001. "Managing Economic Exposures of Natural Disasters: Exploring Alternative Financial Risk Management Opportunities and Instruments," IDB Publications (Working Papers) 8934, Inter-American Development Bank.
  10. Robert W. Klein & Paul R. Kleindorfer, 1999. "The Supply of Catastrophe Insurance Under Regulatory Constraints," Center for Financial Institutions Working Papers 99-25, Wharton School Center for Financial Institutions, University of Pennsylvania.
  11. Harrington, Scott E. & Niehaus, Greg, 2003. "Capital, corporate income taxes, and catastrophe insurance," Journal of Financial Intermediation, Elsevier, vol. 12(4), pages 365-389, October.
  12. Erwann Michel-Kerjan, 2003. "Terrorisme à grande échelle partage de risques et politiques publiques," Revue d'économie politique, Dalloz, vol. 113(5), pages 625-648.
  13. Thomann, Christian & Schulenburg, J.-Matthias, 2006. "Supply and Demand for Terrorism Insurance: Lessons from Germany," Hannover Economic Papers (HEP) dp-340, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
  14. José S. Penalva, 2003. "Implications of Dynamic Trading for Insurance Markets," Working Papers 83, Barcelona School of Economics.
  15. Erwann Michel-Kerjan, 2013. "Finance des risques catastrophiques. Le marché américain est en plein bouleversement," Revue économique, Presses de Sciences-Po, vol. 64(4), pages 615-634.
  16. Mario Jametti & Thomas von Ungern-Sternberg, 2006. "Risk Selection in Natural Disaster Insurance - the Case of France," Working Papers 2006_1, York University, Department of Economics.
  17. Froot, Kenneth A., 2001. "The market for catastrophe risk: a clinical examination," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 529-571, May.
  18. John Lewis, 2010. "Reinsurers as financial intermediaries in the market for catastrophic risk," DNB Occasional Studies 802, Netherlands Central Bank, Research Department.
  19. Tito Cordella & Eduardo Levy Yeyati, 2015. "CATalytic insurance: the case of natural disasters," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 330-349.
  20. Tse-Ling Teh & Alan Martina, 2008. "Developing Countries Spreading Covariant Risk Into International Risk Markets: Subsidised Catastrophe Bonds Or Reinsurance, Or Disaster Assistance?," ANU Working Papers in Economics and Econometrics 2008-492, Australian National University, College of Business and Economics, School of Economics.
  21. Enjolras, Geoffroy & Kast, Robert, 2007. "Using participating and financial contracts to insure catastrophe risk: Implications for crop risk management," 101st Seminar, July 5-6, 2007, Berlin Germany 9268, European Association of Agricultural Economists.
  22. Stefan Avdjiev & Anastasia Kartasheva & Bilyana Bogdanova, 2013. "CoCos: a primer," BIS Quarterly Review, Bank for International Settlements, September.
  23. Richert, Claire & Erdlenbruch, Katrin & Grelot, Frédéric, 2019. "The impact of flood management policies on individual adaptation actions: Insights from a French case study," Ecological Economics, Elsevier, vol. 165(C), pages 1-1.
  24. Sebastian von Dahlen & Goetz von Peter, 2012. "Natural catastrohpes and global reinsurance - exploring the linkages," BIS Quarterly Review, Bank for International Settlements, December.
  25. Barnett, Barry J. & Barrett, Christopher B. & Skees, Jerry R., 2008. "Poverty Traps and Index-Based Risk Transfer Products," World Development, Elsevier, vol. 36(10), pages 1766-1785, October.
  26. Kalkuhl, Matthias & von Braun, Joachim & Torero, Maximo, 2016. "Food Price Volatility and Its Implications for Food Security and Policy," MPRA Paper 72164, University Library of Munich, Germany.
  27. Radoslav Raykov, 2015. "Catastrophe insurance equilibrium with correlated claims," Theory and Decision, Springer, vol. 78(1), pages 89-115, January.
  28. Jerry R. Skees & Panos Varangis & Donald F. Larson & Paul Siegel, 2002. "Can Financial Markets be Tapped to Help Poor People Cope with Weather Risks?," WIDER Working Paper Series DP2002-23, World Institute for Development Economic Research (UNU-WIDER).
  29. Brown, Jeffrey R. & Kroszner, Randall S. & Jenn, Brian H., 2002. "Federal Terrorism Risk Insurance," National Tax Journal, National Tax Association;National Tax Journal, vol. 55(3), pages 647-657, September.
  30. Frame, David E., 2001. "Insurance and Community Welfare," Journal of Urban Economics, Elsevier, vol. 49(2), pages 267-284, March.
  31. Zheng-wen Wang & Ling Tian, 2016. "How much catastrophe insurance fund needed in China for the ‘big one’? An estimation with comonotonicity method," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 84(1), pages 55-68, October.
  32. Cummins, J. David & Doherty, Neil & Lo, Anita, 2002. "Can insurers pay for the "big one"? Measuring the capacity of the insurance market to respond to catastrophic losses," Journal of Banking & Finance, Elsevier, vol. 26(2-3), pages 557-583, March.
  33. Cummins, J David & Mahul, Olivier, 2003. "Optimal Insurance with Divergent Beliefs about Insurer Total Default Risk," Journal of Risk and Uncertainty, Springer, vol. 27(2), pages 121-138, October.
  34. Brown, Jeffrey R. & Cummins, J. David & Lewis, Christopher M. & Wei, Ran, 2004. "An empirical analysis of the economic impact of federal terrorism reinsurance," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 861-898, July.
  35. Alexis Louaas & Pierre Picard, 2018. "Optimal insurance coverage of low probability-high severity risks," Working Papers hal-01924408, HAL.
  36. Charpentier, Arthur & Le Maux, Benoît, 2014. "Natural catastrophe insurance: How should the government intervene?," Journal of Public Economics, Elsevier, vol. 115(C), pages 1-17.
  37. Skees, Jerry & Hazell, P. B. R. & Miranda, Mario, 1999. "New approaches to crop yield insurance in developing countries:," EPTD discussion papers 55, International Food Policy Research Institute (IFPRI).
  38. Mario Jametti & Thomas von Ungern-Sternberg, 2010. "Risk Selection in Natural-Disaster Insurance," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 166(2), pages 344-364, June.
  39. Randy E. Dumm & David L. Eckles & Charles Nyce & Jacqueline Volkman-Wise, 2017. "Demand for Windstorm Insurance Coverage and the Representative Heuristic," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 117-139, September.
  40. Brodin, Erik & Rootzén, Holger, 2009. "Univariate and bivariate GPD methods for predicting extreme wind storm losses," Insurance: Mathematics and Economics, Elsevier, vol. 44(3), pages 345-356, June.
  41. James F. Moore, 1999. "Tail Estimation and Catastrophe Security Pricing: Can We Tell What Target We Hit if We Are Shooting in the Dark?," Center for Financial Institutions Working Papers 99-14, Wharton School Center for Financial Institutions, University of Pennsylvania.
  42. Meuwissen, Miranda P.M. & Huirne, Ruud B.M. & Hardaker, J. Brian, 1999. "The Feasibility Of Farm Revenue Insurance In Australia," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 124090, Australian Agricultural and Resource Economics Society.
  43. P. Nowak, 1999. "Analysis of Applications of Some Ex-Ante Instruments for the Transfer of Catastrophic Risks," Working Papers ir99075, International Institute for Applied Systems Analysis.
  44. Mario Jametti & Thomas von Ungern-Sternberg, 2009. "Hurricane Insurance in Florida," Quaderni della facoltà di Scienze economiche dell'Università di Lugano 0905, USI Università della Svizzera italiana.
  45. Butler Richard J, 2017. "Econometrics Illustrated, with Applications from Insurance-Research Awards," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 11(2), pages 1-21, July.
  46. Mondher bellalah & Shirley Mardonez & Omar Masood, 2013. "How can non-life insurance linked securities be sustainable? (Mexico Case Study)," THEMA Working Papers 2013-18, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  47. Cathy Q. Ning & Loran Chollete, 2009. "The Dependence Structure of Macroeconomic Variables in the US," Working Papers 005, Toronto Metropolitan University, Department of Economics.
  48. Chollete, Loran & Jaffee, Dwight, 2009. "Economic Implications of Extreme and Rare Events," UiS Working Papers in Economics and Finance 2009/32, University of Stavanger.
  49. Alexis Louaas & Pierre Picard, 2022. "Optimal Nuclear Liability Insurance," The Energy Journal, , vol. 43(1), pages 97-115, January.
  50. Franz Waldenberger, 2013. "Confronting earthquake risk in Japan—are private households underinsured?," Asia Europe Journal, Springer, vol. 11(1), pages 79-91, March.
  51. Unknown, 1999. "Policy Reform, Market Stability, And Food Security; Proceedings Of A Conference Of The International Agricultural Trade Research Consortium," 1998: Policy Reform, Market Stability, and Food Security Conference, June 1998, Alexandria VA 14538, International Agricultural Trade Research Consortium.
  52. Cummins, J. David & Lalonde, David & Phillips, Richard D., 2004. "The basis risk of catastrophic-loss index securities," Journal of Financial Economics, Elsevier, vol. 71(1), pages 77-111, January.
  53. Froot, Kenneth A. & O'Connell, Paul G.J., 2008. "On the pricing of intermediated risks: Theory and application to catastrophe reinsurance," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 69-85, January.
  54. Leo Dobes & Bruce Chapman, 2011. "Financing Adaptation to Climate-Induced Retreat from Coastal Inundation and Erosion," CCEP Working Papers 1113, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
  55. M. Martin Boyer & Théodora Dupont-Courtade, 2013. "The Market for Reinsurance," CIRANO Working Papers 2013s-06, CIRANO.
  56. Teh, Tse-Ling, 2017. "Insurance design in the presence of safety nets," Journal of Public Economics, Elsevier, vol. 149(C), pages 47-58.
  57. Patricia H. Born & Barbara Klimaszewski-Blettner, 2013. "Should I Stay or Should I Go? The Impact of Natural Disasters and Regulation on U.S. Property Insurers’ Supply Decisions," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(1), pages 1-36, March.
  58. Wenzel, Lars & Wolf, André, 2013. "Protection against major catastrophes: An economic perspective," HWWI Research Papers 137, Hamburg Institute of International Economics (HWWI).
  59. Hao, Jianqiang & Skees, Jerry R., 2003. "Structuring Institutions To Share Local Weather Risk Globally," 2003 Annual meeting, July 27-30, Montreal, Canada 21973, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  60. Nathalie de Marcelis-Warin & Erwann Michel-Kerjan, 2003. "Catastrophe risk sharing and public-private partnerships : From natural disasters to terrorism," Working Papers hal-00242981, HAL.
  61. Dowlatabadi, Hadi & Cook, Christina, 2007. "Climate Risk Management and Institutional Learning," RFF Working Paper Series dp-07-19, Resources for the Future.
  62. Fujita, Takahiko & 藤田, 岳彦 & Ishimura, Naoyuki & 石村, 直之 & Tanaka, Daichi, 2008. "An Arbitrage Approach to the Pricing of Catastrophe Options Involving the Cox Process," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 49(2), pages 67-74, December.
  63. Viral V. Acharya & Lasse H. Pedersen & Thomas Philippon & Matthew Richardson, 2012. "How to Calculate Systemic Risk Surcharges," NBER Chapters, in: Quantifying Systemic Risk, pages 175-212, National Bureau of Economic Research, Inc.
  64. Wang, Chen & Sun, Jiayi & Russell, Roddy & Daziano, Ricardo A., 2018. "Analyzing willingness to improve the resilience of New York City's transportation system," Transport Policy, Elsevier, vol. 69(C), pages 10-19.
  65. Lin, Yijia & Cox, Samuel H., 2008. "Securitization of catastrophe mortality risks," Insurance: Mathematics and Economics, Elsevier, vol. 42(2), pages 628-637, April.
  66. Gibson, Rajna & Habib, Michel A. & Ziegler, Alexandre, 2014. "Reinsurance or securitization: The case of natural catastrophe risk," Journal of Mathematical Economics, Elsevier, vol. 53(C), pages 79-100.
  67. Jacqueline Volkman-Wise, 2015. "Representativeness and managing catastrophe risk," Journal of Risk and Uncertainty, Springer, vol. 51(3), pages 267-290, December.
  68. Niehaus, Greg, 2002. "The allocation of catastrophe risk," Journal of Banking & Finance, Elsevier, vol. 26(2-3), pages 585-596, March.
  69. Arnaud Goussebaïle, 2016. "Risk prevention in cities prone to natural hazards," Working Papers hal-01358734, HAL.
  70. Mario Jametti & Thomas von Ungern-Sternberg, 2004. "Disaster Insurance or a Disastrous Insurance – Natural Disaster Insurance in France," CESifo Working Paper Series 1303, CESifo.
  71. Fink, Jason D. & Fink, Kristin E. & Russell, Allison, 2010. "When and how do tropical storms affect markets? The case of refined petroleum," Energy Economics, Elsevier, vol. 32(6), pages 1283-1290, November.
  72. Nell, Martin & Richter, Andreas, 2002. "Improving risk allocation through cat bonds," Working Papers on Risk and Insurance 10, University of Hamburg, Institute for Risk and Insurance.
  73. Erwann O. Michel-Kerjan, 2010. "Catastrophe Economics: The National Flood Insurance Program," Journal of Economic Perspectives, American Economic Association, vol. 24(4), pages 165-186, Fall.
  74. Brock, Philip L., 1998. "Financial safety nets and incentive structures in Latin America," Policy Research Working Paper Series 1993, The World Bank.
  75. Mingtao Ding & Fangqiang Wei & Kaiheng Hu, 2012. "Property insurance against debris-flow disasters based on risk assessment and the principal–agent theory," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 60(3), pages 801-817, February.
  76. Chollete, Loran & Ning, Cathy, 2010. "Asymmetric Dependence in US Financial Risk Factors?," UiS Working Papers in Economics and Finance 2011/2, University of Stavanger.
  77. José S. Penalva, 2003. "A Study of the Interaction of Insurance and Financial Markets: Efficiency and Full Insurance Coverage," Working Papers 286, Barcelona School of Economics.
  78. Thomas Holzheu & Ginger Turner, 2018. "The Natural Catastrophe Protection Gap: Measurement, Root Causes and Ways of Addressing Underinsurance for Extreme Events†," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(1), pages 37-71, January.
  79. Mario Jametti & Thomas von Ungern-Sternberg, 2010. "Risk Selection in Natural-Disaster Insurance," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 166(2), pages 344-364, June.
  80. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
  81. Henri LOUBERGE & Harris SCHLESINGER, 1999. "Optimal Catastrophe Insurance with Multiple Catastrophes," FAME Research Paper Series rp7, International Center for Financial Asset Management and Engineering.
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