Regulating onshore special purpose reinsurance vehicles

Martin Grace; Robert Klein; Richard Phillips

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Regulating onshore special purpose reinsurance vehicles

Journal article

Peer reviewed

Regulating onshore special purpose reinsurance vehicles

Martin Grace, Robert Klein and Richard Phillips

Journal of insurance regulation, Vol.19(4), pp.551-590

07/01/2001

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Abstract

The increased risk from natural disasters in the US has prompted significant changes in primary insurance markets and changes in related markets for reinsurance and other forms of risk transfer and financing. Among the new innovations for financing these mega risks are special purpose reinsurance vehicles (SPRV). The NAIC is considering model legislation that will facilitate the formation of SPRVs in the US. The paper examines several important considerations in crafting this legislation, as well as regulators' role and responsibilities in overseeing SPRV transactions.

Catastrophes

Earthquakes

Financial instruments

Insurance commissioners

Insured losses

Legislation

Policyholders

Proposals

Public interest

Regulation

Regulation of financial institutions

Reinsurance

Risk

Securitization

Taxation

Details

Title: Subtitle: Regulating onshore special purpose reinsurance vehicles
Creators: Martin Grace
Robert Klein
Richard Phillips
Resource Type: Journal article
Publication Details: Journal of insurance regulation, Vol.19(4), pp.551-590
Publisher: National Association of Insurance Commissioners
ISSN: 0736-248X
Language: English
Date published: 07/01/2001
Academic Unit: Finance
Record Identifier: 9984700643702771

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