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Catastrophic Loss, Alternative Risk Transfer, And Terrorism Insurance, Robert J. Rhee
Catastrophic Loss, Alternative Risk Transfer, And Terrorism Insurance, Robert J. Rhee
Faculty Scholarship
This paper constitutes a compilation of summary entries on catastrophic loss, alternative risk transfer, and the Terrorism Risk Insurance Act of 2002 and the Terrorism Risk Insurance Extension Act of 2005, along with references and further reading.
Participation And Disintermediation In A Risk Society, Robert J. Rhee
Participation And Disintermediation In A Risk Society, Robert J. Rhee
Faculty Scholarship
The chapter argues that financing extreme catastrophic loss will become more problematic as catastrophes become more frequent and severe. An effective strategy must increase the level of participation in the spreading of risk and loss. Currently, risk spreading is done largely through insurers and government as they are the default aggregators of private and public capital. An enlargement of participation may mean the disintermediation of the traditional insurance and public compensation functions, thus allowing more direct and efficient participation between those are exposed to risk and those who are willing to bear it. This chapter also argues that tax policy …