The Impact of the financial crisis and natural catastrophes on CAT Bonds
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| Tag | 1 | 2 | Value |
|---|---|---|---|
| LDR | 00000cab a2200000 4500 | ||
| 001 | MAP20160026986 | ||
| 003 | MAP | ||
| 005 | 20160921163714.0 | ||
| 008 | 160914e20160905usa|||p |0|||b|eng d | ||
| 040 | $aMAP$bspa$dMAP | ||
| 084 | $a328.1 | ||
| 100 | $0MAPA20160011463$aGürtler, Marc | ||
| 245 | 1 | 4 | $aThe Impact of the financial crisis and natural catastrophes on CAT Bonds$cMarc Gürtler, Martin Hibbeln, Christine Winkelvos |
| 520 | $aThis article employs secondary market data to examine how natural catastrophes or financial crises affect CAT bond premiums. We find evidence that both the financial crisis and Hurricane Katrina significantly affected CAT bond premiums. The premium increase resulting from natural catastrophes can primarily be attributed to an increased coefficient of expected loss calculated by catastrophe modeling companies. Furthermore, our results indicate a positive relationship between corporate spreads and CAT bond premiums. Thus, CAT bonds should not be regarded as zero-beta securities. Moreover, our results indicate that deal complexity, ratings, and the reinsurance cycle are significant drivers of CAT bond premiums | ||
| 650 | 4 | $0MAPA20080600204$aCatástrofes naturales | |
| 650 | 4 | $0MAPA20080575298$aCrisis económica | |
| 650 | 4 | $0MAPA20080580872$aImpacto económico | |
| 650 | 4 | $0MAPA20080624552$aMercado secundario de valores | |
| 650 | 4 | $0MAPA20080629755$aSeguro de riesgos extraordinarios | |
| 650 | 4 | $0MAPA20080538279$aBonos | |
| 650 | 4 | $0MAPA20080581886$aPrimas de seguros | |
| 700 | 1 | $0MAPA20160011524$aHibbeln, Martin | |
| 700 | 1 | $0MAPA20160011531$aWinkelvos, Christine | |
| 773 | 0 | $wMAP20077000727$tThe Journal of risk and insurance$dNueva York : The American Risk and Insurance Association, 1964-$x0022-4367$g05/09/2016 Volumen 83 Número 3 - septiembre 2016 , p. 579-612 |