Description: The concept of crosshedging gives us the key to the actuarial understanding of most new tools arising in the area of alternative risk transfer mechanisms. Securitization of insurance, which is the theme of this symposium can, as I see it, almost always be seen as an exercise in crosshedging. The 1995 Bowles Symposium, M-FI97-1.

Description: There is no right price for a piece of insurance. There is simply the transacted market price, which is high enough to bring forth sellers and low enough to induce buyers. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: New tools for managing insurance risk have particularly emerged in the 1980s and 1990s, usually with roots in the financial markets. A strong motivating factor has been the record number of natural catastrophes and their impact in insured losses. New organization or joint ventures have been created to meet this demand. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: By establishing insurance risk as an asset class, participants will provide the insurance industry with vast pools of capital to mitigate catastrophic risk through the use of new nontraditional reinsurance products. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: This paper reviews the main methodological questions underlying the theoretical pricing of catastrophe insurance futures. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI978-1.

Description: This paper describes methods for determining bounds on the price of derivative instruments, such as option on insurance futures, given only market information. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: Catastrophic insurance futures are being traded, albeit thinly, at the Chicago Board of Trade. This paper examines the broad context for trading insurance risk. The motivation for trading insurance risks, specifically to increase the capacity to cover risk, is discussed. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.