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Despite a series of unprecedented disasters that have unfolded in the past decades, there has been little economic analysis about corporate demand for catastrophe insurance. Using a unique dataset of 1,808 large U.S. corporations, this study provides the first empirical analysis that compares corporate demand for standard property insurance and for catastrophe coverage (here, terrorism) using a demand-supply system equation. The main finding of this study is that corporate demand fordoi:10.3386/w17403 fatcat:p5tfkimn3fasbhag74buzizre4