Large-scale disasters and the insurance industry
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Date
2005
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Publisher
Universität Dortmund
Abstract
We investigate the effect of the 20 largest – in terms of insured losses – man-made or natural disasters on the insurance industry. We show via an event study that insurance markets worldwide are quite resilient to unexpected losses to capital and are even outperforming the general market subsequent to great disasters.
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Keywords
disaster, insurance industry, event-study