Economics of Insurance against Natural Catastrophes: Over-Burdened Arab Insurers
Natural catastrophes increased over time in numbers and in economic losses. This trend is expected to continue. Reinsurers operating in high risk areas attempted to transfer part of their huge losses to the financial markets or to less risky areas domestically or internationally, including Arab countries. Statistics show relatively low number of events and low economic losses resulting from natural catastrophes in Arab countries. The risk transfers over-burdened Arab insurance companies. These transfers did not receive serious academic attention. The present paper studies aspects of insurance and reinsurance against natural catastrophes, studies risk transfers and presents suggestions to reduce the extra burden that transfers inflect upon Arab insurers.
Volume (Year): 2 (2012)
Issue (Month): (August)
|Contact details of provider:|| Postal: |
Web page: http://www.bapress.ca
|Order Information:|| Postal: 17 Alton Towers Circle, Unit 101 Toronto, ON, M1V3L8, Canada|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- J. David Cummins & Christopher M. Lewis & Richard D. Phillips, 1998.
"Pricing Excess-of-loss Reinsurance Contracts Against Catastrophic Loss,"
Center for Financial Institutions Working Papers
98-09, Wharton School Center for Financial Institutions, University of Pennsylvania.
- David Cummins & Christopher Lewis & Richard Phillips, 1999. "Pricing Excess-of-Loss Reinsurance Contracts against Cat as trophic Loss," NBER Chapters, in: The Financing of Catastrophe Risk, pages 93-148 National Bureau of Economic Research, Inc.
- Kunreuther, Howard, 1996. "Mitigating Disaster Losses through Insurance," Journal of Risk and Uncertainty, Springer, vol. 12(2-3), pages 171-87, May.
- W. Kip Viscusi & Patricia Born, 2006.
"The Catastrophic Effects of Natural Disasters on Insurance Markets,"
NBER Working Papers
12348, National Bureau of Economic Research, Inc.
- Patricia Born & W. Viscusi, 2006. "The catastrophic effects of natural disasters on insurance markets," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 55-72, September.
When requesting a correction, please mention this item's handle: RePEc:bap:journl:120308. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bill Yan)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.