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An Examination of the Futures Market for Catastrophe Insurance

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  • Mary Ann Boose
  • A. Steven Graham

Abstract

Although Catastrophe Insurance Futures (CATS) were created to allow insurers to hedge losses from catastrophes, trading has not been active. Possible explanations for this low daily volume are examined and the conclusion reached is that the characteristics of the CATS contract are substantially different from other futures for which successful markets have developed. If this innovative contract is to be successful, steps must be to taken to ameliorate some of the problems and some of the unique characteristics must be promoted as advantages to potential participants.

Suggested Citation

  • Mary Ann Boose & A. Steven Graham, 1994. "An Examination of the Futures Market for Catastrophe Insurance," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 17(2), pages 23-44.
    • Handle: RePEc:wri:journl:v:17:y:1994:i:2:p:23-44
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