Can insurers pay for the "big one"? Measuring the capacity of the insurance market to respond to catastrophic losses

By J. Cummins, N. Doherty, Anita Lo. 2002

187 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Networks in Finance (2008, background): “Cummins et al. (2002) show how the structure of catastrophe insurance markets can also lead to contagion.”
Optimal Reinsurance Arrangements Under Tail Risk Measures (2009, unknown): “Moreover, the loss can also be written on a so-called loss index (see Cummins, Doherty and Lo (2002) for details).”
A Cat Bond Premium Puzzle? (2000, background): “Though total insurance capital was slightly over $250 billion in 1996, Cummins and Doherty [1997] find that “a closer look at the industry reveals that the capacity to bear a large catastrophic loss is actually much more limited than the aggregate statistics would suggest.”
Valuation of catastrophe reinsurance with catastrophe bonds (2007, background): “Losses of this magnitude would significantly stress the capacity of the insurance industry and threaten the credit risk of many reinsurers (Cummins et al., 2002).”
Should the government provide insurance for catastrophes (2006, methodology): “Cummins, Doherty, and Lo (2002) investigated the capacity of the U.S. property-casualty insurance industry to respond to large catastrophic events during the late 1990s.”