Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Seismic Risk Management of Insurance Portfolio Using Catastrophe Bonds
Parametric earthquake catastrophe bonds are emerging risk transfer instruments for governments and insurers. This study extends a current station‐intensity‐based trigger method for binary payments, which utilizes direct observation of ground motions at recording stations, by promoting a more flexible multiple‐discrete payment structure. A calibration procedure of the bond trigger mechanism for the new approach is demonstrated by focusing upon a realistic portfolio of conventional wood‐frame houses in Vancouver, Canada. Numerical results indicate that the new method with a multiple‐discrete payment structure decreases the magnitude of trigger errors significantly in terms of seismic loss, and facilitates the flexible adoption of various payment structures for catastrophe bonds. Furthermore, a synergy between the calibration of parametric catastrophe bonds and the current performance‐based earthquake engineering framework is highlighted.
Seismic Risk Management of Insurance Portfolio Using Catastrophe Bonds
Parametric earthquake catastrophe bonds are emerging risk transfer instruments for governments and insurers. This study extends a current station‐intensity‐based trigger method for binary payments, which utilizes direct observation of ground motions at recording stations, by promoting a more flexible multiple‐discrete payment structure. A calibration procedure of the bond trigger mechanism for the new approach is demonstrated by focusing upon a realistic portfolio of conventional wood‐frame houses in Vancouver, Canada. Numerical results indicate that the new method with a multiple‐discrete payment structure decreases the magnitude of trigger errors significantly in terms of seismic loss, and facilitates the flexible adoption of various payment structures for catastrophe bonds. Furthermore, a synergy between the calibration of parametric catastrophe bonds and the current performance‐based earthquake engineering framework is highlighted.
Seismic Risk Management of Insurance Portfolio Using Catastrophe Bonds
Goda, Katsuichiro (Autor:in)
Computer‐Aided Civil and Infrastructure Engineering ; 30 ; 570-582
01.07.2015
13 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
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