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Full-Text Articles in Insurance
Terrorism Risk Insurance: Is It Really Working?, Rebecca Demarest
Terrorism Risk Insurance: Is It Really Working?, Rebecca Demarest
Honors Projects in Mathematics
This paper investigates terrorism risk insurance in the United States as well as those programs offered in other countries throughout the world. In the United States, particular attention is devoted to the interaction of government with private insurers to maintain an effective insurance program. An analysis is performed comparing terrorism insurance before and after the attacks on the World Trade Center on September 11, 2001. The paper looks into actual terrorist events that have occurred focusing on 56 world-wide events that are associated with property losses greater than $10 million. This paper not only investigates the losses that were incurred …
Toward Better Management Of Flood Losses: Flood Insurance In A Wetter World, Michael K. Mcshane, Juita-Elena (Wie) Yusuf
Toward Better Management Of Flood Losses: Flood Insurance In A Wetter World, Michael K. Mcshane, Juita-Elena (Wie) Yusuf
Finance Faculty Publications
Flood is the most frequent and costly of U.S. natural disasters with losses expected to increase due to climate change. The National Flood Insurance Program (NFIP) mandates flood insurance purchase for properties with federally backed mortgages in the 100-year floodplain. We propose that mandatory flood insurance purchase be extended to all property in the 500-year floodplain. Following flood events, payments would be directly provided for more properties that suffer flood loss, reducing federal disaster aid spending. The mandate could put more pressure on local governments to increase their Community Rating System score, such as through infrastructure investments and management practices …