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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Economics of Natural Catastrophe Risk Insurance
671
In view of the law requiring inclusion of earthquake coverage in homeowners’ poli-
cies, the only legal response to their fear of high losses was for insurers to stop offering
new homeowners’ policies. The California Insurance Department surveyed insurers and
found that up to 90 percent of them had either stopped or had placed restrictions on the
selling of new homeowners’ policies. After extended discussions between the California
Insurance Department and the large insurers in 1996, an advisory group of insurers and
actuaries proposed the formation of a state-run earthquake insurance company—the ...
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Publisher Resources

ISBN: 9780444536853