Hard-hitting editorials

The publisher and the editor of The Fiji Times appeared before the Fiji Senate Privileges Commitee on 8 October 1997. Publisher Alan Robinson and editor Samisoni Kakaivalu were called to answer allegations that the newspaper breached parlimentary privilege by allegedly misrepresenting the Senate's proceedings.&nbsp

Convergence of Insurance and Financial Markets: Hybrid and Securitized Risk-Transfer Solutions

One of the most significant economic developments of the past decade has been the convergence of the financial services industry, particularly the capital markets and (re)insurance sectors. Convergence has been driven by the increase in the frequency and severity of catastrophic risk, market inefficiencies created by (re)insurance underwriting cycles, advances in computing and communications technologies, the emergence of enterprise risk management, and other factors. These developments have led to the development of hybrid insurance/financial instruments that blend elements of financial contracts with traditional reinsurance as well as new financial instruments patterned on asset-backed securities, futures, and options that provide direct access to capital markets. This article provides a survey and overview of the hybrid and pure financial markets instruments and provides new information on the pricing and returns on contracts such as industry loss warranties and Cat bonds. Copyright (c) The Journal of Risk and Insurance, 2009.