• Corpus ID: 27548

Terrorism Losses and All Perils Insurance

@inproceedings{Kunreuther2005TerrorismLA,
  title={Terrorism Losses and All Perils Insurance},
  author={Howard Kunreuther and Mark Pauly},
  year={2005}
}
Summary This paper deals with the role of insurance for damages from catastrophic events. Prior to the attack of September 11, 2001, insurers typically provided coverage for losses from terrorism and those from almost all other causes. These causes were thought by the industry to be of sufficiently low probability and were not a reason for making changes in premiums, underwriting, or reserves. In times past, property-casualty insurance had provided protection only for losses from named causes… 
Regulating Insurance Sales or Selling Insurance Regulation?: Against Regulatory Competition in Insurance
In both corporate and banking law, firms are empowered to select from a limited menu of options the regulatory regimes that will govern them. Two recent proposals would reform the regulation of
Willingness to Pay for Multi-Peril Hazard Insurance
Increasing the number of insured assets in high risk areas can help reduce the need for federal disaster aid and help communities rebuild quicker following a disaster event. Offering a bundled
The effect of ambiguity on risk management choices: An experimental study
We introduce a model of the decision between precaution and insurance under an ambiguous probability of loss and employ a novel experimental design to test its predictions. Our experimental results
The Known, the Unknown, and the Unknowable in Financial Risk Management: Measurement and Theory Advancing Practice
A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or
Reflections on the Evolving Terrorist Threat to Luxury Hotels: A Case Study on Marriott International
Abstract The advent of global terrorist networks represents a challenge to international business (IB) theory. Traditionally conceptualized as a type of political risk experienced by multinational
Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry
1. Purposes of this book 2. An introduction to insurance in practice and theory 3. Anomalies and rumors of anomalies 4. Behavior consistent with benchmark models 5. Real world complications 6. Why
Individual Preference for Longshots
Results from studies on risk taking behavior suggest that people tend to be risk seeking when making choices over lotteries that involve longshots: small probabilities of winning sizable payoffs.
Handbook of Consumer Finance Research
I. Concepts and theories of consumer finance.-Risk tolerance.-Financial well being.-Retirement savings.-Financial education and program evaluation.-Applying behavior theories to financial
Conducting Research in Financial Planning
Financial planning is an emerging profession supported by academic research that explores new planning techniques and understands household financial behaviors. This chapter provides an introduction
...
1
2
...

References

SHOWING 1-10 OF 27 REFERENCES
Terrorism Risk Coverage after 9/11: a Comparison of New Public-private Partnerships in France, Germany and the U.s
Although international terrorism is not a new risk, the perceived nature of risk associated with terrorist attacks has changed radically with the unutterably abominable September 11, 2001 events
TERRORISM INSURANCE: Rising Uninsured Exposure to Attacks Heightens Potential Economic Vulnerabilities
Abstract : The tragic events of September 11, 2001 brought to light the huge potential exposures insurance companies could face in the event of another terrorist attack. Faced with continued
Can insurers pay for the "big one"? Measuring the capacity of the insurance market to respond to catastrophic losses
This paper presents a theoretical and empirical analysis of the capacity of the U.S. property-liability insurance industry to finance major catastrophic property losses. The topic is important
The Role of Government Contracts in Discretionary Reinsurance Markets for Natural Disasters
A recent surge in natural disaster losses in the United States has created widespread disruptions in the property insurance market and generated calls for federal protection against natural disaster
The Economic Consequences of Terrorism
The unprecedented 11 September 2001 terrorist attacks in the United States caused massive casualties and damage, and ushered in an era of greater uncertainty. While a prompt and vigorous policy
Terrorism Risk Coverage in the Post-9/11 Era: A Comparison of New Public–Private Partnerships in France, Germany and the U.S.
The paper discusses the development and operation of terrorism insurance programmes established in France, Germany and the U.S as reaction to 9/11. These three programmes are all based upon a
Optimal Insurance Coverage
  • V. Smith
  • Business
    Journal of Political Economy
  • 1968
The literature of expected utility theory has treated extensively the problem of optimal portfolio investment, but there is limited treatment of the parallel problem of the optimal protection of
Insurer ambiguity and market failure
A series of studies investigate the decision processes of actuaries, underwriters, and reinsurers in setting premiums for ambiguous and uncertain risks. Survey data on prices reveal that all three
Insurer Ambiguity and Market Failure
A series of studies investigate the decision processes of actuaries, underwriters, and reinsurers in setting premiums for ambiguous and uncertain risks. Survey data on prices reveal that all three
Ambiguity and underwriter decision processes
This paper provides empirical evidence that risk and ambiguity affect underwriters' decisions on pricing insurance. A field study of primary-insurance underwriters in a random sample of commercial
...
1
2
3
...