The impact of catastrophes on property insurance.

Introduction -- Background -- Resulting stresses in property insurance mechanism -- Responses/potential solutions to reduce the impact of catastrophes -- Summary and conclusions

Discusses recent catastrophic events and the stresses they have placed on the insurance industry; the potential financial problems insurers, reinsurers, and other risk-bearers would face if a major catastrophe were to hit a heavily populated urban area; steps to prepare for future catastrophic losses; and recommendations for reducing financial losses through better building code enforcement, geographic diversification, changes in coverage, and improvements in catastrophe forecasting and rate setting

1