An Examination of catastrophes, insurance guaranty funds
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| Tag | 1 | 2 | Value |
|---|---|---|---|
| LDR | 00000cab a2200000 4500 | ||
| 001 | MAP20200022817 | ||
| 003 | MAP | ||
| 005 | 20200707143530.0 | ||
| 008 | 200707e20200401che|||p |0|||b|eng d | ||
| 040 | $aMAP$bspa$dMAP | ||
| 084 | $a214 | ||
| 100 | 1 | $0MAPA20080027780$aKelly, Mary | |
| 245 | 1 | 3 | $aAn Examination of catastrophes, insurance guaranty funds$cMary Kelly, Anne Kleffner, Grant Kelly |
| 520 | $aMany countries have formalised solvency insurance programmes that provide payments to policyholders of insolvent insurers. Like most insurance schemes, these programmes operate most effectively when failures are firm- specific. Using Canada as a case study, we examine the issue of using ex post guaranty fund assessments following a peak peril loss resulting in the simultaneous failure of multiple insurers. In this case, the guaranty fund assessment levied on surviving insurers is so large that it causes a contagion effect: several insurers fail because of the asessment, and the end result is the collapse of the entire industry. We conclude with a discussion of possible policy alternatives to address this issue, including increasing prudential requirements, changing the ex post funding mechanism, prefunding the guaranty fund for a peak peril loss , using the government as the insurer of large catastrophic losses, or developing public-private partnerships. We highlight both prudential and public policy implications of each of these alternatives and make recommendations for countries that face a large peak peril relative to the size of the private insurance industry. | ||
| 650 | 4 | $0MAPA20080585334$aFondos de garantía | |
| 650 | 4 | $0MAPA20080590567$aEmpresas de seguros | |
| 650 | 4 | $0MAPA20080586294$aMercado de seguros | |
| 650 | 4 | $0MAPA20080552701$aSolvencia | |
| 650 | 4 | $0MAPA20080591007$aFondo de Catástrofe | |
| 651 | 1 | $0MAPA20080637712$aCanadá | |
| 700 | 1 | $0MAPA20080197230$aKleffner, Anne E. | |
| 700 | 1 | $0MAPA20200015550$aKelly, Grant | |
| 773 | 0 | $wMAP20077100215$tGeneva papers on risk and insurance : issues and practice$dGeneva : The Geneva Association, 1976-$x1018-5895$g01/04/2020 Volumen 45 Número 2 - abril 2020 , p. 256-280 |