The impact of catastrophic perils over the decades
Article Abstract:
The property and reinsurance industry in the US should develop a combination of approaches in planning for the possibility of a mega-catastrophe in the future. The best approach would consider the lessons gained from past catastrophes and would provide the appropriate balance of coverage through loss mitigation, availability of insurance and reinsurance from the federal government and the private community, capital markets and risk securitization. Government assistance is appropriately needed when the magnitude of the exposure reaches more than $50 billion.
Publication Name: CPCU Journal
Subject: Insurance
ISSN: 0162-2706
Year: 1998
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Specialty markets confront new liability issues
Article Abstract:
The surety, marine and aviation insurance sectors offer an important study on how traditional exposures and products are challenged by current laws, social expectations and new court opinions. These trends include liability cases such as bad faith and employment claims which, according to one study, are the sources of the biggest punitive damage awards. To stay competitive, specialty insurers should address the issues that may have an impact on their profitability, opportunity and future losses.
Publication Name: CPCU Journal
Subject: Insurance
ISSN: 0162-2706
Year: 1998
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The Florida involuntary market facilities: solution or illusion?
Article Abstract:
The Florida legislature's emergency measures to address the unavailability of insurance after Hurricane Andrew provides a satisfactory solution to several issues. These pertain to the financing of the retirement of revenue bonds issued by the underwriting associations set up by the state, emergency assessments on companies to fund bond debt service payments, rate increases to offset obligations and coverage of catastrophe reinsurance policies.
Publication Name: CPCU Journal
Subject: Insurance
ISSN: 0162-2706
Year: 1995
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