Lessons from the Japanese Earthquake: : why the U.S. should use international reinsurance markets

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000cab a2200000   4500</leader>
    <controlfield tag="001">MAP20110058654</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20111006170749.0</controlfield>
    <controlfield tag="008">111006e20110930gbr|||p      |0|||b|eng d</controlfield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="a">MAP</subfield>
      <subfield code="b">spa</subfield>
      <subfield code="d">MAP</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">328.1</subfield>
    </datafield>
    <datafield tag="100" ind1=" " ind2=" ">
      <subfield code="0">MAPA20110026486</subfield>
      <subfield code="a">Hochberg, Ed</subfield>
    </datafield>
    <datafield tag="245" ind1="0" ind2="0">
      <subfield code="a">Lessons from the Japanese Earthquake: </subfield>
      <subfield code="b">: why the U.S. should use international reinsurance markets</subfield>
      <subfield code="c">by Ed Hochberg and François Morin</subfield>
    </datafield>
    <datafield tag="520" ind1=" " ind2=" ">
      <subfield code="a"> In the present environment of substantial federal deficits and ballooning debt, this article questions whether this hidden risk transfer is the most efficient and appropriate means of risk financing, given the low-frequency, high-severity nature of these events. Because most mortgagees do not require earthquake insurance, the current system presents a substantial downside risk to the economy. This risk is especially serious, given the potential impact on the banking system and the U.S. government's grappling with deficits, debt limits and a recent rating agency downgrade. If earthquake insurance were required to obtain a mortgage, similar to windstorm and other natural hazards, such economic risk could be mitigated, in combination with the appropriate participation from the international reinsurance markets</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="1">
      <subfield code="0">MAPA20080629755</subfield>
      <subfield code="a">Seguro de riesgos extraordinarios</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="1">
      <subfield code="0">MAPA20080600204</subfield>
      <subfield code="a">Catástrofes naturales</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="1">
      <subfield code="0">MAPA20080602529</subfield>
      <subfield code="a">Mercado de reaseguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="1">
      <subfield code="0">MAPA20080632168</subfield>
      <subfield code="a">Transferencia Alternativa de Riesgos</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="1">
      <subfield code="0">MAPA20080621391</subfield>
      <subfield code="a">Financiación de los riesgos</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="1">
      <subfield code="0">MAPA20080579814</subfield>
      <subfield code="a">Crisis financiera</subfield>
    </datafield>
    <datafield tag="651" ind1=" " ind2="1">
      <subfield code="0">MAPA20080638337</subfield>
      <subfield code="a">Estados Unidos</subfield>
    </datafield>
    <datafield tag="700" ind1="1" ind2=" ">
      <subfield code="0">MAPA20090038738</subfield>
      <subfield code="a">Morin, François</subfield>
    </datafield>
    <datafield tag="773" ind1="0" ind2=" ">
      <subfield code="w">MAP20077000932</subfield>
      <subfield code="t">Emphasis</subfield>
      <subfield code="d">New York : Towers Watson, 1987-</subfield>
      <subfield code="g">30/09/2011 Número 3  - 2011 , p. 7-13</subfield>
    </datafield>
  </record>
</collection>