Insured loss inflation : how natural catastrophes affect reconstruction costs

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<dc:creator>Dohrmann, David</dc:creator>
<dc:creator>Gürtler, Marc</dc:creator>
<dc:creator>Hibbeln, Martin</dc:creator>
<dc:description xml:lang="es">Sumario: In the aftermath of a natural catastrophe, there is increased demand for skilled reconstruction labor, which leads to significant increases in reconstruction labor wages and hence insured losses. Such inflation effects are known as "Demand Surge" effects. It is important for insurance companies to properly account for these effects when calculating insurance premiums and determining economic capital. We propose an approach to quantifying the Demand Surge effect and present an econometric model for the effect that is based on 192 catastrophe events in the United States. Our model explains more than 75 percent of the variance of the Demand Surge effect and is thus able to identify the key drivers of the phenomenon.</dc:description>
<dc:rights xml:lang="es">InC -</dc:rights>
<dc:subject xml:lang="es">Inflación</dc:subject>
<dc:subject xml:lang="es">Catástrofes naturales</dc:subject>
<dc:subject xml:lang="es">Empresas de seguros</dc:subject>
<dc:subject xml:lang="es">Primas de seguros</dc:subject>
<dc:subject xml:lang="es">Capital económico</dc:subject>
<dc:subject xml:lang="es">Modelos econométricos</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Insured loss inflation : how natural catastrophes affect reconstruction costs</dc:title>
<dc:format xml:lang="es">29 p.</dc:format>
<dc:relation xml:lang="es">En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 04/09/2017 Volumen 84 Número 3 - septiembre 2017 , p. 851-879</dc:relation>