Search results for "Reinsurance"
showing 3 items of 3 documents
Insurance mechanisms for tropical cyclones and droughts in Pacific Small Island Developing States
2016
One group of locations significantly affected by climate-related losses and damage is the Small Island Developing States (SIDS). One mechanism aiming to reduce such adverse impacts is insurance, with a wide variety of products and models available. Insurance for climate-related hazards affecting Pacific SIDS has not been investigated in detail. This article contributes to filling this gap by exploring how insurance mechanisms might be implemented in the Pacific SIDS for tropical cyclones and droughts. The study examines opportunities and constraints or limitations of some existing insurance mechanisms and programmes as applied to the Pacific SIDS. Eight insurance mechanisms are compared and…
Financial options as a mechanism for estimating insurance and reinsurance premiums in the Colombian health system
2007
Entre los instrumentos financieros de protección frente al riesgo se encuentran las opciones que protegen ante variaciones en el precio de un activo subyacente y las operaciones de seguro y de reaseguro que dan cubrimiento contra el riesgo derivado de la ocurrencia de un siniestro. En este artículo se presentan las equivalencias existentes entre la cobertura de riesgos con opciones y la cobertura generada con operaciones de seguro. Además, se muestra cómo esta similitud se evidencia en el caso de las operaciones de reaseguro hechas por las firmas de aseguramiento que funcionan dentro del sistema de salud colombiano. De esta manera, se demuestra que la cobertura proporcionada por las operaci…
Pricing Reinsurance Contracts
2011
Pricing and hedging insurance contracts is hard to perform if we subscribe to the hypotheses of the celebrated Black and Scholes model. Incomplete market models allow for the relaxation of hypotheses that are unrealistic for insurance and reinsurance contracts. One such assumption is the tradeability of the underlying asset. To overcome this drawback, we propose in this chapter a stochastic programming model leading to a superhedging portfolio whose final value is at least equal to the insurance final liability. A simple model extension, furthermore, is shown to be sufficient to determine an optimal reinsurance protection for the insurer: we propose a conditional value at risk (VaR) model p…