Innovations in Managing Catastrophe Risk

Neil A. Doherty
1997 Journal of Risk and Insurance  
The arrival of the modelers and their models is eroding the comparative information advantage of insurers and reinsurers and opening the door to new players. Insurers will retain their comparative advantage over, say, merchant banks in related insurance services such as marketing, underwriting and loss settlement facilities. But the stage has been set for an unbundling of insurance products with insurers retaining marketing underwriting and settlement services and risk bearing by-passing the
more » ... nsurance industry and being provided more directly from the capital market.
doi:10.2307/253893 fatcat:4lj4m6uhcvfydjylmo4mhwurhu