Financing Losses from Catastrophic Risks: Working Paper 2008-09

Kent Smetters and David Torregrosa

No 20400, Working Papers from Congressional Budget Office

Abstract: Catastrophe insurance helps spread risks and increases the ability of policyholders and the economy to recover from both natural disasters and terrorist attacks. Government policies, however, may unintentionally limit the role of the private sector in insuring against catastrophic losses. Several such policies at both the state and the federal level reduce the amount of private capital supplied to insure or hedge against catastrophic risks. One reason is that those policies often become outdated as markets innovate. Policymakers have several different options to increase

Date: 2008-11-11
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