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Current pressure for paradigm shifts in insurance science
[Aktuální tlak na změny v paradigmatech pojistné vědy]

Author

Listed:
  • Petra Tisová
  • Jaroslav Daňhel

Abstract

Catastrophic risks have in recent years brought with them big question marks overwhat attitude insurers should take towards them. This is particularly a problem insituations of recurrent hurricane-type catastrophes on the east coast of the Caribbeanand the United States, where it is already perfectly legitimate to address the fulfilmentof the contingency condition, which is an essential condition for the recognition ofan insurance claim. The solution, beyond the limits and exclusions imposed onclaims, appears to be to involve markets outside the insurance industry and transferrisk, for example, through catastrophe.

Suggested Citation

  • Petra Tisová & Jaroslav Daňhel, 2023. "Current pressure for paradigm shifts in insurance science [Aktuální tlak na změny v paradigmatech pojistné vědy]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2023(1), pages 49-54.
    • Handle: RePEc:prg:jnlcfu:v:2023:y:2023:i:1:id:582:p:49-54
    DOI: 10.18267/j.cfuc.582
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    References listed on IDEAS

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    1. Michael Rothschild & Joseph Stiglitz, 1976. "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 90(4), pages 629-649.
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    Keywords

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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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