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This book is an excellent treatment of an issue of increasing importance. As the costs of natural catastrophes continue to increase, the tools available to absorb the increasing costs of loss become more valuable. The book describes the demand for catastrophe insurance protection, the limitations on supply, and alternative mechanisms to shift risk. Of particular interest is the discussion of the capital markets as viable tools to absorb risk. For those concerned with the financing of catastrophe risk, this book is an essential read.
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