Catastrophic Risk Management and Risk Securitization in China
The traditional insurance mechanism alone cannot spread the risk of repeated catastrophic losses. Risk securitization, or insurance securitization and securitization of risk of loss from future events, generally provides an alternative to traditional reinsurance and can transfer risk to the deeper pool of the global capital markets. Through issuing CAT bonds and trading CAT futures or CAT options, etc. Insurance risk securitization can not only guarantee compensation sufficient for catastrophic damage, but also offer unique profit and diversification opportunities for the investor community. As one of the most efficient solutions of risk management, the catastrophic-linked securitization has become a vital and efficient alternative to transfer the catastrophic risk. This paper analyzes the types and features of insurance risk securitization and highlights the necessity and feasibility in developing insurance risk securitization in China. But due to some bottlenecks which are analyzed in the paper, development of risk securitization encounters great difficulty in China.
Catastrophic Risk Management China Insurance Risk Securitization Special Purpose Vehicle
LIU Hanxia SUN Yuming
Research Center of Local Legal System & Law School & Economic-Trade School, South China University o Law School, South China University of Technology, P.R.China, 510006
国际会议
The International Conference on Management of Technology(2008太原技术管理国际研讨会)
太原
英文
529-534
2008-08-01（万方平台首次上网日期，不代表论文的发表时间）