Český finanční a účetní časopis 2023(1):49-54 | DOI: 10.18267/j.cfuc.582

Current pressure for paradigm shifts in insurance science

Petra Tisová, Jaroslav Daňhel
Vysoká škola ekonomická v Praze, Fakulta financí a účetnictví, katedra bankovnictví a pojišťovnictví, Praha

Catastrophic risks have in recent years brought with them big question marks overwhat attitude insurers should take towards them. This is particularly a problem insituations of recurrent hurricane-type catastrophes on the east coast of the Caribbeanand the United States, where it is already perfectly legitimate to address the fulfilmentof the contingency condition, which is an essential condition for the recognition ofan insurance claim. The solution, beyond the limits and exclusions imposed onclaims, appears to be to involve markets outside the insurance industry and transferrisk, for example, through catastrophe.

Keywords: Insurance; Catastrophic risks; Volatility.
JEL classification: D22, G22, L11, M20

Received: October 16, 2023; Revised: October 16, 2023; Accepted: October 17, 2023; Published: December 30, 2023  Show citation

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Tisová, P., & Daňhel, J. (2023). Current pressure for paradigm shifts in insurance science. Czech Financial and Accounting Journal, 2023(1), 49-54. doi: 10.18267/j.cfuc.582
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