Dramatic events in the recent past have drawn attention to catastrophe risk management problems. The devastating terrorist attacks of September 11th, 2001 incurred the highest insured losses to date. Furthermore, a trend of increasing losses from natural catastrophes appears to be observable...

The use of catastrophe bonds (cat bonds) implies the problem of the so called basis risk, resulting from the fact that, in contrast to traditional reinsurance, this kind of coverage cannot be a perfect hedge for the primary’s insured portfolio. On the other hand cat bonds offer some very...

Dramatic events in the recent past have drawn attention to catastrophe risk management problems. The devastating terrorist attacks of September 11th, 2001 incurred the highest insured losses to date. Furthermore, a trend of increasing losses from natural catastrophes appears to be observable...

Catastrophe bonds (cat bonds) often use index triggers, such as, for instance, parametric descriptions of a catastrophe. This implies the problem of the so-called basis risk, resulting from the fact that, in contrast to traditional reinsurance, this kind of coverage cannot be a perfect hedge for...

Der Beitrag enthält eine anreiztheoretische Analyse der Versicherungssysteme, die zur Entschädigung von Kosten und Verlusten aus Tierseuchenausbrüchen in den EU-Mitgliedsländern eingerichtet sind. Es wird gezeigt, dass Kompensationszahlungen zur Erzielung effizienter...

Der Beitrag enthält eine anreiztheoretische Analyse der Versicherungssysteme, die zur Entschädigung von Kosten und Verlusten aus Tierseuchenausbrüchen in den EUMitgliedsländern eingerichtet sind. Es wird gezeigt, dass Kompensationszahlungen zur Erzielung effizienter Schadenverhütungsanreize...