Catastrophe Insurance Consumer Demand, Markets and Regulation

Name: Catastrophe Insurance Consumer Demand, Markets and Regulation
Availability: InStock
ISBN: 9781402074691

ISBN-10: 1402074697

ISBN-13: 9781402074691

Edition: 2003

Authors: Martin F. Grace, Robert W. Klein, Paul R. Kleindorfer, Michael R. Murray

List price: $109.99

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Description:

This monograph presents the results of the first significant attempt to examine the nature of the demand for insurance against natural disasters at a detailed, microeconomic level. The subject is homeowners' multiperil insurance used to cover owner-occupied residential property. The analysis seeks to identify factors that affect the consumer demand for coverage using a model that properly reflects the interacting supply and demand factors. The authors examine key variables and their effects on the quantity, quality, and price of insurance purchased. They consider the sensitivity of demand to prices, demographic characteristics, policy features, and the bundling/unbundling of perils and…

Book details

List price: $109.99
Copyright year: 2003
Publisher: Springer
Publication date: 6/30/2003
Binding: Hardcover
Pages: 147
Size: 6.10" wide x 9.25" long x 0.50" tall
Weight: 1.958
Language: English



Preface and Acknowledgements



Introduction



The Problem of Catastrophe Risk



Overview of Study



Summary of Findings



An Overview of Catastrophe Insurance Markets



Characteristics of Residential Property Insurance



Challenges to Insuring Catastrophe Risk



Market Structure



Market Conduct and Performance



Regulatory Institutions and Policies



The Framework for Insurance Regulation



Key Regulatory Policies Affecting Catastrophe Insurance



Regulation in Florida



Regulation in New York



Supply, Demand and Regulation of Catastrophe Insurance



The Supply of Catastrophe Insurance



The Structure of Demand for Homeowners Insurance



Summary



Demand Estimation for Homeowners Insurance Policies



Estimation of Quantity Demanded



Florida Results



New York



Guaranty Funds



Summary



Summary and Conclusions



Structure-Conduct-Performance Framework



Introduction to Catastrophe Modeling



AIR Catastrophe Modeling Technology



Event Generation Module



Local Intensity Module



Damage Module



Insured Loss Module



Model Output


References


Index