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(92)
- News (19)
- Research (65)
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- July 1997 (Revised September 1997)
- Case
USAA: Catastrophe Risk Financing
By: Kenneth A. Froot and Mark Seasholes
Describes the first major risk financing using catastrophe bonds. Provides a basis for discussing the securitization of insurance risks. View Details
Keywords: Financial Management; Insurance; Capital Markets; Natural Disasters; Risk Management; Bonds; Insurance Industry; Financial Services Industry; United States
Froot, Kenneth A., and Mark Seasholes. "USAA: Catastrophe Risk Financing." Harvard Business School Case 298-007, July 1997. (Revised September 1997.)
- 1999
- Book
The Financing of Catastrophe Risk
By: Kenneth A. Froot
Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry
Froot, Kenneth A., ed. The Financing of Catastrophe Risk. Chicago: University of Chicago Press, 1999.
- 19 Sep 2011
- Research & Ideas
Doomsday Coming for Catastrophic Risk Insurers?
he's seen improvements in the way reinsurers distribute risk over the last two decades, he still questions whether reinsurers in their current form can survive a major catastrophic event. "Reinsurers... View Details
- fall 1999
- Article
The Evolving Market for Catastrophe Event Risk
By: K. A. Froot
Keywords: Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Insurance Industry
Froot, K. A. "The Evolving Market for Catastrophe Event Risk." Risk Management and Insurance Review 2, no. 3 (fall 1999): 1–28. (Reprinted in Risk Management: The State of the Art, edited by S. Figlewski and R. Levich, Kluwer Academic Publishers, 2001.)
- 19 Sep 2011
- News
Doomsday Coming for Catastrophic Risk Insurers?
- June 2006 (Revised April 2007)
- Case
Nephila: Innovation in Catastrophe Risk Insurance
By: Kenneth A. Froot and Michael Heinrich
At the cross-section of capital markets and the catastrophe insurance space stands the hedge fund Nephila. Nephila must decide how best to take advantage of the newly presented market opportunities post hurricanes Katrina, Wilma, and Rita. Nephila has a plethora of... View Details
Keywords: Hedge Fund; Investment Management; Uncertainty; Risk and Uncertainty; Natural Disasters; Insurance; Capital Markets; Investment Funds; Financial Services Industry; Insurance Industry; Bermuda
Froot, Kenneth A., and Michael Heinrich. "Nephila: Innovation in Catastrophe Risk Insurance." Harvard Business School Case 206-130, June 2006. (Revised April 2007.)
- fall 2008
- Article
The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market
By: Kenneth A. Froot
In this paper, I provide evidence concerning the imperfections in the reinsurance market. I try to get at some of the root causes of these imperfections, e.g., the behavior of ratings firms and the agency problems associated with the corporate form of ownership. I also... View Details
Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry
Froot, Kenneth A. "The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market." Risk Management and Insurance Review 11, no. 2 (fall 2008): 281–294.
- January 2008
- Article
On the Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance
By: K. A. Froot and P. O'Connell
Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry
Froot, K. A., and P. O'Connell. "On the Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance." Special Issue on Dynamics of Insurance Markets: Structure, Conduct, and Performance in the 21st Century Journal of Banking & Finance 32, no. 1 (January 2008): 69–85. (Revised from NBER Working Paper No. 6011, April 1997, Harvard Business School Working Paper No. 98-024, 1997.)
- 1999
- Chapter
The Pricing of US Catastrophe Reinsurance
By: K. Froot and P. O'Connell
Keywords: Financial Markets; Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Insurance; Natural Disasters; Policy; Risk Management; Insurance Industry; United States
Froot, K., and P. O'Connell. "The Pricing of US Catastrophe Reinsurance." In The Financing of Catastrophe Risk, edited by Kenneth A. Froot, 195–232. Chicago: University of Chicago Press, 1999. (Revised from NBER Working Paper No. 6043, May 1997, and HBS Working Paper No. 98-018, September 1997.)
- 1999
- Chapter
The Limited Financing of Catastrophe Risk: An Overview
By: K. Froot
Keywords: Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Natural Disasters; Insurance; Risk Management; Financial Markets; Policy; Insurance Industry
Froot, K. "The Limited Financing of Catastrophe Risk: An Overview." In The Financing of Catastrophe Risk, edited by Kenneth A. Froot, 1–22. Chicago: University of Chicago Press, 1999. (Revised from NBER Working Paper No. 6025, May 1997, and HBS Working Paper No. 98-023, September 1997.)
- 2013
- Case
Travelers Insurance: Focusing on Climate Change and Natural Catastrophe Risk
By: Andrew J. Hoffman
The dilemma Evan Blue faces stems from a report by sustainability advocacy group Ceres that calls on companies to take climate change into consideration in their risk models and develop response strategies. The fictional vice president of Traveler's Insurance is tasked... View Details
Hoffman, Andrew J. "Travelers Insurance: Focusing on Climate Change and Natural Catastrophe Risk." William Davidson Institute Case 1-429-347, 2013.
- 13 Jul 2007
- Working Paper Summaries
Economic Catastrophe Bonds
- Article
The Market for Catastrophe Risk: A Clinical Examination
By: K. A. Froot
Keywords: Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Insurance; Decision Choice And Uncertainty; Financial Markets; Policy; Risk Management; Natural Disasters; Insurance Industry
Froot, K. A. "The Market for Catastrophe Risk: A Clinical Examination." Journal of Financial Economics 60, nos. 2-3 (May 2001): 529–571. (Revised from NBER Working Paper No. 8110, February 2001. Reprinted in The Economics of Natural Hazards, part of the International Library of Critical Writings in Economics series edited by Mark Blaug, Edward Elgar Publishing Limited, 2003.)
- September 2004 (Revised January 2006)
- Case
Catastrophe Bonds at Swiss Re
In 2002, Swiss Re, the world's second--largest insurance company, is considering securitizing parts of its risk portfolio in the capital markets. This would be a first for the company that, until then, had never transferred risk off its balance sheet. Peter Giessmann,... View Details
Keywords: Risk Management; Bonds; Natural Disasters; Insurance; Capital Markets; Banks and Banking; Banking Industry; Insurance Industry; Switzerland
Chacko, George C., Peter A. Hecht, Vincent Dessain, and Anders Sjoman. "Catastrophe Bonds at Swiss Re." Harvard Business School Case 205-006, September 2004. (Revised January 2006.)
- December 1997 (Revised March 1998)
- Case
Mid Ocean Limited: Trading Catastrophe Index Options
By: Kenneth A. Froot and Markus Mullarkey
An insurance industry executive must evaluate the potential of a set of newly-offered catastrophe insurance derivatives. The background addresses the roles of traditional reinsurance and securitization efforts in providing risk transfer and risk financing in the "cat"... View Details
Keywords: Commodity Market; Derivatives; Insurance; Capital Markets; Natural Disasters; Risk Management; Financial Management; Financial Strategy; Performance Evaluation; Insurance Industry; Bermuda
Froot, Kenneth A., and Markus Mullarkey. "Mid Ocean Limited: Trading Catastrophe Index Options." Harvard Business School Case 298-073, December 1997. (Revised March 1998.)
- 2010
- Chapter
Lessons from Catastrophe Reinsurance
By: Kenneth A. Froot
Of the 20 most costly catastrophes since 1970, more than half have occurred since 2001. Is this an omen of what the 21st century will be? How might we behave in this new, uncertain, and more dangerous environment? Will our actions be rational or irrational? A select... View Details
- November–December 1994
- Article
A Framework for Risk Management
By: K. Froot, David S. Scharfstein and J. Stein
Keywords: Catastrophe Risk; Cost Of Capital; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Framework; Risk Management; Corporate Finance; Asset Pricing; Financial Markets; Insurance; Policy; Natural Disasters; Insurance Industry
Froot, K., David S. Scharfstein, and J. Stein. "A Framework for Risk Management." Harvard Business Review 72, no. 6 (November–December 1994): 59–71. (Revised from "Developing a Risk Management Strategy," Harvard Business School Working Paper No. 95-021. Reprinted in Bank of America Journal of Applied Corporate Finance 7, no. 3 (fall 1994): 22-33; Marsh & McLennan Companies' Viewpoint 24 (spring 1995): 21-37; and in Corporate Risk: Strategies and Management, edited by Greg Brown and Don Chew, London: Risk Books, December 1999.)
- December 1993
- Article
Risk Management: Coordinating Corporate Investment and Financing Policies
By: K. A. Froot, David S. Scharfstein and J. Stein
Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry
Froot, K. A., David S. Scharfstein, and J. Stein. "Risk Management: Coordinating Corporate Investment and Financing Policies." Journal of Finance 48, no. 5 (December 1993): 1629–1658. (Revised from NBER Working Paper No. 4084, February 1993. Reprinted in RAE-Revista de Administração de Empresas, Management Journal of Fundação Getulio Vargas (FGV-EAESP), Business School for Administration in Sao Paulo, Brazil, volume no. 48, issue no. 1 (January-March 2008): 87-118. Reprinted in Insurance and Risk Management, Volume II, Corporate Risk Management, Part I: Theory on Why and How Firms Manage Risk, Chapter 3, edited by Gregory R. Niehaus, UK: Edward Elgar Publishing Ltd. (October 2008). Also in M.J. Brennan, The Theory of Corporate Finance from The International Library of Critical Writings in Financial Economics, edited by R. Roll, 1995; and in Merton Miller and Chris Culp, eds. Corporate Hedging in Theory and Practice: Lessons from Metallgesellschaft, Risk Books, 1999.)
- 2017
- Book
Managing Risk in Reinsurance: From City Fires to Global Warming
By: Niels Viggo Hauter and Geoffrey Jones
This is the first book to provide a comprehensive history of the reinsurance industry from the nineteenth century to the present day. Reinsurance developed at the fringe of financial services and, for most of its existence, was largely unnoticed outside the expert... View Details
Keywords: Insurance; Risk Management; Business History; Globalization; Risk and Uncertainty; Financial Services Industry; Insurance Industry; Africa; Europe; Latin America; North and Central America; Asia
Hauter, Niels Viggo and Geoffrey Jones, eds. Managing Risk in Reinsurance: From City Fires to Global Warming. New York: Oxford University Press, 2017.