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Are catastrophe bonds effective financial instruments in the transport and infrastructure industries? Evidence and review from international financial markets

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  • Pizzutilo, Fabio
  • Venezia, Elisabetta

Abstract

We analyse the effectiveness of catastrophe bonds for the financial management of catastrophic risk in the transport and infrastructure industries. We illustrate how these financial instruments are becoming a valuable tool for non-financial firms in the risk management of catastrophic events, supplementing the traditional insurance/reinsurance channel, especially during times of constraints in the insurance industry. We also review cat bond issues sponsored by infrastructure and transport companies, highlighting the usefulness of these structured financial instruments in the management of the catastrophe exposure in these industries. Policy indications are finally given.

Suggested Citation

  • Pizzutilo, Fabio & Venezia, Elisabetta, 2018. "Are catastrophe bonds effective financial instruments in the transport and infrastructure industries? Evidence and review from international financial markets," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 14(2), February.
    • Handle: RePEc:ags:pdcbeh:285164
    DOI: 10.22004/ag.econ.285164
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    Cited by:

    1. Wulan Anggraeni & Sudradjat Supian & Sukono & Nurfadhlina Binti Abdul Halim, 2022. "Earthquake Catastrophe Bond Pricing Using Extreme Value Theory: A Mini-Review Approach," Mathematics, MDPI, vol. 10(22), pages 1-22, November.

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    Public Economics;

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