THE BALKANIZATION OF CAT PROPERTY INSURANCE: FINANCING AND FRAGMENTATION IN STORM RISKS
Author: Donald T. Hornstein After a catastrophic weather event (“CAT”), such as a hurricane, there inevitably arise disputes over the cause of property damage, with losses attributable to flooding assigned to policies issued under the National Flood Insurance Program, and losses attributable to wind assigned to policies issued by private insurers and/or by various state-based… continue reading