Why Have Exchange-Traded Catastrophe Instruments Failed to Displace Reinsurance?
- 1 January 2007
- preprint
- Published by Elsevier BV in SSRN Electronic Journal
Abstract
In spite of the fact that they can draw on a larger, more liquid and more diversified pool of capital than the equity of reinsurance companies, financial marketThis publication has 24 references indexed in Scilit:
- Hybrid Cat-BondsSSRN Electronic Journal, 2007
- The basis risk of catastrophic-loss index securitiesJournal of Financial Economics, 2004
- Insurance Contracts and SecuritizationJournal of Risk and Insurance, 2002
- Managing Natural Catastrophe Risks: The Structure and Dynamics of ReinsuranceThe Geneva Risk and Insurance Review, 2001
- A Cat Bond Premium Puzzle?Journal of Psychology and Financial Markets, 2000
- A Liquidity-based Model of Security DesignEconometrica, 1999
- Innovations in Managing Catastrophe RiskJournal of Risk and Insurance, 1997
- Industry costs of equityJournal of Financial Economics, 1997
- Security DesignThe Journal of Finance, 1993
- The Role of Liquidity in Futures Market InnovationsThe Review of Financial Studies, 1993