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Catastrophe Insurance Consumer Demand, Markets and Regulation

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ISBN-10: 1402074697

ISBN-13: 9781402074691

Edition: 2003

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

List price: $169.99
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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…    
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Book details

List price: $169.99
Copyright year: 2003
Publisher: Springer
Publication date: 6/30/2003
Binding: Hardcover
Pages: 147
Size: 6.00" wide x 9.25" long x 0.50" tall
Weight: 0.836
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