Legal Research On Securitization Of Catastrophe Insurance Risk

In recent years, frequent international scale catastrophe causes severe economic losses worldwide. General insurance, reinsurance inadequate spread catastrophe risk, catastrophe insurance risk securitization as an effective new financial instruments to make up for the lack of catastrophe insurance in other models.Have a good development as a background of financial derivatives, catastrophe insurance risk securitization Jiangzai not spread the risk of the insurance the insurance industry through financing from the original re-enter the field of asset; from the finance point of view, the specific catastrophe insurance risk securitization implementation process is a process of asset securitization, where assets are essentially insurance company liabilities. Sponsors or investors through the investment direction of the establishment of specific, yet the flow of funds to agencies through the SPV package of risk transferred to the operation of a capital market liquidity, income of people bearing the risk of high-risk high-return benefits. Catastrophe insurance risk securitization has exceeded reinsurance and other financing advantage. At present, China has not yet introduced catastrophe insurance risk securitization, although to a certain extent, the development of the insurance reckoned increasingly powerful, the gradual improvement of legislation, with the appropriate securities practice in China, already has initiated the feasibility, but the current law not enough to support the separate management of catastrophe securities. Combined with China's basic national conditions, how to protect the interests of good investors, establish the "Catastrophe Insurance Risk Securitization Law" sole the problem of Catastrophe Risk Insurance to issue securities, we must solve SPV regulation, bankruptcy, asset securitization issues in the process of real sales, also need to expand into asset-backed securities issued SPV scope of the subject, this is because the process of securitization itself problem. SPV for the construction of special purpose, from his behavior in the form, organization, operation mode of construction, making it the risk of bankruptcy isolation body, with relative independence. The true underlying asset securitization sales requirements. The scope of its assets involved, you can limit the scope of the transfer of assets, sales of identified specific criteria. Legal supervision. Clear the status of regulatory agencies, duties, powers, duties, scope, monitor the program measures. These run from the International way of existing legislation and learn to make up for our vacancies.