Tang, Yifan; Wen, Conghua; Ling, Chengxiu; Zhang, Yuqing - In: Risks : open access journal 11 (2023) 8, pp. 1-19
catastrophic bonds triggered by multiple events with an extreme dependence structure. Due to the bond's low cashflow contingencies … and the CAT bond's high return, the multiple-event CAT bond may successfully transfer the catastrophe risk to the huge … mechanism helps reduce the moral hazard and increase the bond's attractiveness with a lower trigger likelihood, displaying the …