Catastrophe Insurance and Solvency Regulation

2020 ◽  
Author(s):  
Arnaud Goussebaïle ◽  
Alexis Louaas
Keyword(s):  
Catastrophe Insurance ◽  
Solvency Regulation

NEW RESULTS ON THE DISTRIBUTION OF DISCOUNTED COMPOUND POISSON SUMS

2018 ◽  
Vol 49 (1) ◽  
pp. 169-187 ◽  
Author(s):  
Zhehao Zhang
Keyword(s):  
Infinite Time ◽  
Catastrophe Insurance ◽  
Compound Poisson ◽  
Gamma Distributions ◽  
Time Period ◽  
Heavy Tailed

AbstractThis paper focuses on the distribution of Poisson sums of discounted claims over a finite or infinite time period. It gives two new results when claim amounts follow Mittag-Leffler distributions and two new results when claim amounts follow gamma distributions. Further, as Mittag-Leffler distribution is of heavy-tailed nature and its moments only exist for order strictly smaller than one, this distribution can be used for modelling insurance whose claim amounts are extremely large, that is, catastrophe insurance.

scholarly journals Stretching scales? Risk and sociality in climate finance

2018 ◽  
Vol 52 (1) ◽  
pp. 88-110 ◽  
Author(s):  
Brett Christophers ◽  
Patrick Bigger ◽  
Leigh Johnson
Keyword(s):  
Financial Risk ◽  
Social Inequalities ◽  
Climate Finance ◽  
Financial Instruments ◽  
Catastrophe Insurance ◽  
Financial Products ◽  
Changing Scale ◽  
Underlying Risk

The heterodox literature on financial risk has in recent years focused predominantly on how risk is distributed, and on the market instabilities and social inequalities that different risk distributions seed. Typically much less discussed is the constitution of financial risk, which is this article’s concern. Drawing empirical examples from two climate financial instruments, its particular interest is in the changing scale – social, spatial and temporal – of the “risk pools” associated with different financial products: the populations across which the products in question serve to aggregate underlying risk. The article explores how, against a historical backdrop of four decades of scale compression in the shape of risk individualization under neoliberalism, certain novel climate financial products seemingly indicate a contrary stretching of the risk pool. The article critically examines sovereign catastrophe insurance pools and green (climate) bonds, highlighting both the significance of the stretching that they effect but also the tensions and limits apparent in this emergent dynamic.

Sign in / Sign up

Export Citation Format

Share Document