Financing Recovery from Large-Scale Natural Disasters / Rawle O. King.

Format:

Book

Author/Creator:

King, Rawle O., author.

Series:

CRS report for Congress, RL34749

Language:

English

Subjects (All):

Business cycles.

Physical Description:

1 online resource (35 pages).

Place of Publication:

Washington, District of Columbia : Congressional Research Service, 2009.

Summary:

Analyzes challenges facing property and casualty insurance and reinsurance companies in financing large-scale natural disasters, particularly during financial market turmoil. Discusses Congressional interest in financing recovery from natural disasters, and role and limitations of Federal disaster assistance and private insurance. Assesses challenges of financing catastrophic risk, and discusses insurability of natural disasters given claims-paying capacity of insurers. Examines alternative risk transfer mechanisms, such as insurance-linked securities and contingent debt securities that complement traditional reinsurance; effects of financial crisis on unraveling capital structures that underlie certain State property insurance systems; and possible roles for Federal Government in market for catastrophe insurance coverage, as it considers policy options for resolving broader financial market crisis. Summarizes legislative options before the 110th Congress.

Notes:

Description based on publisher supplied metadata and other sources.