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Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2013 Update
Author(s) -
Biener Christian,
Eling Martin,
Pradhan Shailee
Publication year - 2015
Publication title -
risk management and insurance review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.386
H-Index - 16
eISSN - 1540-6296
pISSN - 1098-1616
DOI - 10.1111/rmir.12034
Subject(s) - actuarial science , valuation (finance) , variety (cybernetics) , property insurance , risk premium , economics , business , finance , general insurance , insurance policy , financial economics , computer science , artificial intelligence
Abstract This article reports the main results of the 2013 Risk Premium Project update, a yearly review of actuarial and finance literature on the theory and empirics of risk assessment for property–casualty insurance. The literature review reveals a broad variety of topics, with a strong leaning toward catastrophe risk, market efficiency, and new valuation techniques. Within the field of catastrophe risk, the role of weather and climate‐related risks for the insurance sector is reviewed and both the threats and the opportunities arising from the changing risk landscape are discussed.