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Can insurers pay for the "big one"? Measuring the capacity of the insurance market to respond to catastrophic losses

Citations

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Cited by:

  1. 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.
  2. Georges Dionne & Denise Desjardins, 2022. "A re‐examination of the US insurance market's capacity to pay catastrophe losses," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 515-549, December.
  3. Noth, Felix & Rehbein, Oliver, 2019. "Badly hurt? Natural disasters and direct firm effects," Finance Research Letters, Elsevier, vol. 28(C), pages 254-258.
  4. Gabriel Carrillo & Dana Telljohann & Charles Nyce, 2022. "The 30th anniversary of hurricane Andrew: Evolution of the Florida homeowners insurance market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(3), pages 239-270, September.
  5. Friedrich Schneider & Tilman Brück & Daniel Meierrieks, 2010. "The Economics of Terrorism and Counter-Terrorism: A Survey (Part I)," Discussion Papers of DIW Berlin 1049, DIW Berlin, German Institute for Economic Research.
  6. Ben Ammar, Semir & Eling, Martin & Milidonis, Andreas, 2015. "Asset Pricing of Financial Insitutions: The Cross-Section of Expected Stock Returns in the Property/Liability Insurance Industry," Working Papers on Finance 1516, University of St. Gallen, School of Finance.
  7. Nell, Martin & Richter, Andreas, 2004. "Catastrophic events as threats to society: Private and public risk management strategies," Working Papers on Risk and Insurance 12, University of Hamburg, Institute for Risk and Insurance.
  8. 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.
  9. Franz Sinabell & Thomas Url, 2006. "Versicherungen als effizientes Mittel zur Risikotragung von Naturgefahren," WIFO Studies, WIFO, number 28181, February.
  10. Alexis Louaas & Pierre Picard, 2018. "Optimal insurance coverage of low probability-high severity risks," Working Papers hal-01924408, HAL.
  11. 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.
  12. Ben Ammar, Semir & Eling, Martin & Milidonis, Andreas, 2018. "The cross-section of expected stock returns in the property/liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 292-321.
  13. Jie Shao, 2022. "Model assessment of public–private partnership flood insurance systems: an empirical study of Japan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(1), pages 79-102, January.
  14. Lorilee A. Medders & Charles M. Nyce & J. Bradley Karl, 2014. "Market Implications of Public Policy Interventions: The Case of Florida's Property Insurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 17(2), pages 183-214, September.
  15. Li, Jie & An, Yahui & Wang, Lidan & Zhang, Yongjie, 2022. "Combating the COVID-19 pandemic: The role of disaster experience," Research in International Business and Finance, Elsevier, vol. 60(C).
  16. Mary Kelly & Anne Kleffner & Grant Kelly, 2020. "An examination of catastrophes, insurance guaranty funds and contagion risk," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(2), pages 256-280, April.
  17. Ivan Damnjanovic & Zafer Aslan & John Mander, 2010. "Market‐Implied Spread for Earthquake CAT Bonds: Financial Implications of Engineering Decisions," Risk Analysis, John Wiley & Sons, vol. 30(12), pages 1753-1770, December.
  18. Sabine Lemoyne de Forges & Ruben Bibas & Stéphane Hallegatte, 2001. "A dynamic model of extreme risk coverage : Resilience and e fficiency in the global reinsurance market," CIRED Working Papers halshs-00800460, HAL.
  19. Nektarios Milton, 2011. "A Catastrophe Insurance System for the European Union," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 5(2), pages 1-22, July.
  20. Yuanzhong Li & Xinbang Cao & Shaojian Qu & Ying Ji & Zilong Xia, 2022. "Cost Sharing in Insurance Communities: A Hybrid Approach Based on Multiple-Choice Objective Programming and Cooperative Games," Sustainability, MDPI, vol. 14(24), pages 1-18, December.
  21. 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.
  22. C. Y. Cyrus Chu & Jason J. H. Yeh, 2005. "Insuring Against Self-Fulfilling Financial Crises," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 4(2), pages 123-139, August.
  23. Muhammed Altuntas & James Garven & Jannes Rauch, 2018. "On the Corporate Demand for Insurance: Evidence From the Global Reinsurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 21(2), pages 211-242, September.
  24. Huber, Michael, 2004. "Reforming the UK flood insurance regime. The breakdown of a gentlemen's agreement," LSE Research Online Documents on Economics 36049, London School of Economics and Political Science, LSE Library.
  25. Stylianos Perrakis & Ali Boloorforoosh, 2018. "Catastrophe futures and reinsurance contracts: An incomplete markets approach," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 38(1), pages 104-128, January.
  26. Linda Allen & Anthony Saunders, 2004. "Incorporating Systemic Influences Into Risk Measurements: A Survey of the Literature," Journal of Financial Services Research, Springer;Western Finance Association, vol. 26(2), pages 161-191, October.
  27. Huber, Michael, 2002. "Conceptualising Insurance: risk management under conditions of solvency," LSE Research Online Documents on Economics 35991, London School of Economics and Political Science, LSE Library.
  28. Manoj Athavale & Stephen M. Avila, 2011. "An Analysis of the Demand for Earthquake Insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 14(2), pages 233-246, September.
  29. Alexander Harin, 2004. "Arrangement infringement possibility approach: some economic features of large-scale events," Economics Bulletin, AccessEcon, vol. 28(11), pages 1.
  30. Lin, Yijia & Cox, Samuel H., 2008. "Securitization of catastrophe mortality risks," Insurance: Mathematics and Economics, Elsevier, vol. 42(2), pages 628-637, April.
  31. Rim Jemli & Nouri Chtourou & Rochdi Feki, 2010. "Insurability Challenges Under Uncertainty: An Attempt to Use the Artificial Neural Network for the Prediction of Losses from Natural Disasters," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(1), pages 43-60, March.
  32. Niehaus, Greg, 2002. "The allocation of catastrophe risk," Journal of Banking & Finance, Elsevier, vol. 26(2-3), pages 585-596, March.
  33. J. David Cummins, 2006. "Should the government provide insurance for catastrophes?," Review, Federal Reserve Bank of St. Louis, vol. 88(Jul), pages 337-380.
  34. Alejandro Drexler & Richard Rosen, 2022. "Exposure to catastrophe risk and use of reinsurance: an empirical evaluation for the U.S," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(1), pages 103-124, January.
  35. Zhao, Yang & Yu, Min-Teh, 2020. "Predicting catastrophe risk: Evidence from catastrophe bond markets," Journal of Banking & Finance, Elsevier, vol. 121(C).
  36. Noth, Felix & Rehbein, Oliver, 2017. "Badly hurt? Natural disasters and direct firm effects," IWH Discussion Papers 25/2017, Halle Institute for Economic Research (IWH).
  37. Helmut Gründl & Danjela Guxha & Anastasia Kartasheva & Hato Schmeiser, 2021. "Insurability of pandemic risks," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(4), pages 863-902, December.
  38. Alexis Louaas & Pierre Picard, 2021. "Optimal insurance coverage of low-probability catastrophic risks," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(1), pages 61-88, March.
  39. Fabio Pizzutilo & Elisabetta Venezia, 2018. "Are catastrophe bonds effective financial instruments in the transport and infrastructure industries? Evidence from international financial markets," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(2), pages 256-267, April.
  40. Howard Kunreuther, 2002. "The Role of Insurance in Managing Extreme Events: Implications for Terrorism Coverage," Risk Analysis, John Wiley & Sons, vol. 22(3), pages 427-437, June.
  41. M. Boyer & Charles Nyce, 2013. "An Industrial Organization Theory of Risk Sharing," North American Actuarial Journal, Taylor & Francis Journals, vol. 17(4), pages 283-296.
  42. Benali, Nadia & Feki, Rochdi, 2017. "The impact of natural disasters on insurers’ profitability: Evidence from Property/Casualty Insurance company in United States," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1394-1400.
  43. Laura-Gabriela CONSTANTIN, 2014. "Catastrophe Bonds. From Structure to Strategy – A Cluster Analysis at European Level," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 17(2), pages 304-317, December.
  44. Glenn W. Harrison & Jia Min Ng, 2018. "Welfare effects of insurance contract non-performance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 43(1), pages 39-76, May.
  45. David Croson & Andreas Richter, 2003. "Sovereign Cat Bonds and Infrastructure Project Financing," Risk Analysis, John Wiley & Sons, vol. 23(3), pages 611-626, June.
  46. Hagendorff, Bjoern & Hagendorff, Jens & Keasey, Kevin & Gonzalez, Angelica, 2014. "The risk implications of insurance securitization: The case of catastrophe bonds," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 387-402.
  47. Wang, Lanfang & Wang, Susheng, 2012. "Endogenous networks in investment syndication," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 640-663.
  48. Menna Hassan & Nourhan Sakr & Arthur Charpentier, 2022. "Government Intervention in Catastrophe Insurance Markets: A Reinforcement Learning Approach," Papers 2207.01010, arXiv.org.
  49. Lee, Jin-Ping & Yu, Min-Teh, 2007. "Valuation of catastrophe reinsurance with catastrophe bonds," Insurance: Mathematics and Economics, Elsevier, vol. 41(2), pages 264-278, September.
  50. Andreas Richter & Thomas C. Wilson, 2020. "Covid-19: implications for insurer risk management and the insurability of pandemic risk," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 45(2), pages 171-199, September.
  51. Sana Sheikh & Ali Murad Syed & Syed Sikander Ali Shah, 2018. "Corporate Reinsurance Utilisation and Capital Structure: Evidence from Pakistan Insurance Industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(2), pages 300-334, April.
  52. Howard Kunreuther & Erwann Michel-Kerjan & Beverly Porter, 2003. "Assessing, Managing, and Financing Extreme Events: Dealing with Terrorism," NBER Working Papers 10179, National Bureau of Economic Research, Inc.
  53. 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.
  54. Carole Bernard & Weidong Tian, 2009. "Optimal Reinsurance Arrangements Under Tail Risk Measures," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(3), pages 709-725, September.
  55. Michel-Kerjan, Erwann & Raschky, Paul A., 2011. "The effects of government intervention on the market for corporate terrorism insurance," European Journal of Political Economy, Elsevier, vol. 27(S1), pages 122-132.
  56. Nowak, Piotr & Romaniuk, Maciej, 2013. "Pricing and simulations of catastrophe bonds," Insurance: Mathematics and Economics, Elsevier, vol. 52(1), pages 18-28.
  57. Kent Smetters, 2005. "Insuring Against Terrorism: The Policy Challenge," NBER Working Papers 11038, National Bureau of Economic Research, Inc.
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