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A Report from the Tranches
 Recently much of the actuarial ingenuity (and deviousness) in the risk-transfer area has been applied to smoothing the cost of property catastrophes over several following years
Our case study of post-funded CAT covers will be based on a classical analysis of numerous CATs under different covers:
As I was going to Saint Ives, I met a treaty with ...
 Eight Layers
As I was going to Saint Ives, I met a treaty with ...
Eight Layers, and every layer had
Six years
As I was going to Saint Ives, I met a treaty with ...
Eight Layers, and every layer had
Six years, and some of the years had
Third-event covers
As I was going to Saint Ives, I met a treaty with ...
Eight Layers, and every layer had
Six years, and some of the years had
Third-event covers, and each of the covers had
Deferred premium installments, subject to acceleration
As I was going to Saint Ives, I met a treaty with ...
Eight Layers, and every layer had
Six years, and some of the years had
Third-event covers, and each of the covers had
Deferred premium installments, subject to acceleration, unless it had
Additional premiums (or both)
As I was going to Saint Ives, I met a treaty with ...
Eight Layers, and every layer had
Six years, and some of the years had
Third-event covers, and each of the covers had
Deferred premium installments, subject to acceleration, unless it had
Additional premiums (or both), and most of the covers had
Industry loss warranties, which increase in the event of prior losses
So how much risk was going to Saint Ives?
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