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dc.contributor.authorJametti, Marioen
dc.contributor.authorvon Ungern-Sternberg, Thomasen
dc.date.accessioned2009-01-28T15:52:02Z-
dc.date.available2009-01-28T15:52:02Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/18668-
dc.description.abstractWe model natural disaster insurance in France. We explicitly take into account the maininstitutional features of the system, such as the uniform premium rate in both high and lowrisk regions and the existence of a state reinsurance company. Our model indicates that theinstitutional set-up is fundamentally flawed. We find that the market is likely to lead to'specialist? equilibria, where insurers specialize in serving either high or low risk regions. Asa result the reinsurance company, which offers cover to all insurers at the same price, is likelyto suffer from a portfolio with mainly ?bad? risks. We show that increasing the premium ratecustomers have to pay, a policy undertaken by the French authorities, will not necessarilysolve these problems and comes at a high cost to the final consumer (and taxpayer).en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1303en
dc.subject.jelL11en
dc.subject.jelG22en
dc.subject.jelD78en
dc.subject.ddc330en
dc.subject.keywordproperty insuranceen
dc.subject.keywordreinsuranceen
dc.subject.keywordrisk selectionen
dc.subject.stwElementarschadenversicherungen
dc.subject.stwFrankreichen
dc.titleDisaster insurance or a disastrous insurance : natural disaster insurance in France-
dc.typeWorking Paperen
dc.identifier.ppn477260624en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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