The Corporate Tax Practice Series, Practicing Law Institute (Louis Freeman ed. 2013)
Viva Hammer writes about a large amount of this activity is concentrated in the area of catastrophic risk, since a single major catastrophe can result in claims that wipe out an insurer’s entire reserves. This convergence was prompted in large part by Hurricane Andrew and similar natural disasters that tested the capacity of the insurance industry and confirmed suspicions that the industry as a whole was inadequately capitalized.
Read the full text here: INSURANCE DERIVATIVES (2012)