Instrument deriving its value from an underlying insurance index. Insurance companies use these derivatives when they are hedging their exposure to large losses that are due to catastrophic and costly events like hurricanes or earthquakes.
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CiteSeerX - Document Details (Isaac Councill, Lee Giles, ...
- Basis Risk with Catastrophe Insurance Derivative Contracts - CiteSeer
this paper is to examine the basis risk of catastrophe insurance derivative contracts. The first insurance derivative contracts -- introduced by the CBOT in ...
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catastrophe insurance derivative contracts. The first insurance derivative contracts, introduced by the CBOT in. December 1992, were futures contracts based on ...
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completeness of the insurance derivative market. An Asian options ... however, is the indeterminacy of price processes since the insurance derivative market is ...