Lessons from the Japanese Earthquake: : why the U.S. should use international reinsurance markets
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<title>Lessons from the Japanese Earthquake</title>
<subTitle>: why the U.S. should use international reinsurance markets</subTitle>
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<namePart>Morin, François</namePart>
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<abstract displayLabel="Summary"> 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</abstract>
<note type="statement of responsibility">by Ed Hochberg and François Morin</note>
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<topic>Seguro de riesgos extraordinarios</topic>
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<topic>Transferencia Alternativa de Riesgos</topic>
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<topic>Financiación de los riesgos</topic>
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<publisher>New York : Towers Watson, 1987-</publisher>
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<text>30/09/2011 Número 3 - 2011 , p. 7-13</text>
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