"Using Cat bonds to transfer catastrophe risk substitutes not only the use of Cat reinsurance but also non-Cat reinsurance in the hard market, implying Cat bonds affect a ceding insurer’s diversification in both Cat and non-Cat lines of business in the reinsurance market."
This study analyzes insurance claim processing delays due to limited capacity and backlogs. It proposes optimal capacity selection to...
The lack of risk transfer stems from structural forces that deter innovation in insurance policies, leading to inefficient risk...
The paper explores Pareto optimality in decentralized peer-to-peer risk-sharing markets using robust distortion risk measures. It...
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