Insurance and Finance: Competition and/or Convergence
Charles S. Tapiero
NYU Poly - Department of Finance and Risk Engineering
March 19, 2011
Risk and Decision Analysis, Forthcoming
NYU Poly Research Paper
This paper discusses facets of the insurance-finance convergence and their competition. Differences and similarities are emphasized and examples are used to highlight their approaches to pricing. We emphasize situations that are particular to the insurance world, such as non normal risks, catastrophic risks, contagions, and other situations where risks are not easily defined. Some questions relating to the efficiency of portfolio securitization are also raised in light of the latent and macroeconomic risks that have pervaded insurance and financial insurance portfolios during the financial crisis.
Number of Pages in PDF File: 24Accepted Paper Series
Date posted: December 29, 2010 ; Last revised: March 20, 2011
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