August 15, 2004
By: Morton Lane, Ph.D.
Aviation
insurers are often asked to provide limits of liability to insureds (a)
that are large and (b) whose exposures are difficult to assess. This
is particularly true of providers of coverage for product manufacturers
and other products liability. The question arises, for several
insureds with little or no loss experience, how should such coverage be
priced? In particular, is there some minimum price of limit?
To read the full version of this article with graphs:
 Download the PDF Here
|
|
Review of Trends in Insurance Securitization |
April 30, 2004
Presented at the 2004 Enterprise Risk Management
Symposium sponsored by the Casualty Actuarial Society, the Society of
Actuaries and Georgia State University.
By: Morton Lane, President and Roger Beckwith, Vice President
Lane Financial LLC
The
last twelve months have been something of a breakout year for insurance
securitization. By our estimate $1.9 billion of securities were issued
between 4/2003 and 3/2003 (our usual measuring interval). This
represents a 50% increase over the previously most active year to date
(1999). Sixteen securities, as defined herein, constitute the record
issuance. But, as always, such measurements are subject to
specification definition. During this period at least three other
securities were issued that have not been included in this report,
principally because of a lack of readily available data. Had they been
included the issuance level would have been an additional $900 million.
To read the full version of this article with graphs:
Download the PDF Here
|
|
The Viability and Likely Pricing of "Cat Bonds" for Developing Countries |
February 14, 2004 (Revised March 31, 2004)
Excerpt from Catastrophe
Risk and Reinsurance: A Country Risk Management Perspective, Eugene N.
Gurenko (ed.) 2004 (London: Risk Books)
By Morton N. Lane, Ph.D.
An
inordinately large number of natural catastrophes occur in the
developing world. That is, they occur in those areas least likely to
be able to handle the disaster’s human and economic consequences and
quickly return to functioning societies. In the developed world, when
disasters hit, governments respond with aid but a large measure of
restitution is provided by private insurance markets. In the
developing world, the usual sources of help are international
reconstruction agencies like the World Bank and IMF, donor governments
and charities. The insurance markets provide very little help.
To read the full version of this article with graphs:
Download the PDF Here
|
|
