Economics of Insurance against Natural Catastrophes: Over-Burdened Arab Insurers

Abdel-Raheem F. Fares () and Eid Ahmad Abou-Bakr ()
Additional contact information
Abdel-Raheem F. Fares: College of Economics and Business Administration, Department of Banking and Finance, Al-Zaytoonah University
Eid Ahmad Abou-Bakr: Faculty of Commerce, Beni-Suif University, EGYPT

Review of Economics & Finance, 2012, vol. 2, 95-105

Abstract: Natural catastrophes increased over time in numbers and in economic losses. This trend is expected to continue. Reinsurers operating in high risk areas attempted to transfer part of their huge losses to the financial markets or to less risky areas domestically or internationally, including Arab countries. Statistics show relatively low number of events and low economic losses resulting from natural catastrophes in Arab countries. The risk transfers over-burdened Arab insurance companies. These transfers did not receive serious academic attention. The present paper studies aspects of insurance and reinsurance against natural catastrophes, studies risk transfers and presents suggestions to reduce the extra burden that transfers inflect upon Arab insurers.

Keywords: Insurance and reinsurance against natural catastrophes; Protecting Arab insurers; Risk transfers in insurance; Demand and supply for insurance against natural catastrophes (search for similar items in EconPapers)
JEL-codes: F01 G18 G22 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.bapress.ca/ref/ref-2012-3/Economics%20o ... 0Arab%20Insurers.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bap:journl:120308

Ordering information: This journal article can be ordered from
17 Alton Towers Circle, Unit 101 Toronto, ON, M1V3L8, Canada

Access Statistics for this article

Review of Economics & Finance is currently edited by H. Carlson

More articles in Review of Economics & Finance from Better Advances Press, Canada 17 Alton Towers Circle, Unit 101 Toronto, ON, M1V3L8, Canada.
Bibliographic data for series maintained by Carlson ( this e-mail address is bad, please contact ).