CAT Bonds Market – legal framework and perspectives

Sovilj, Ranko (2021) CAT Bonds Market – legal framework and perspectives. Pravo i privreda, 59 (2). pp. 141-160. ISSN 0354-3501

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The paper analyses the legal aspects of the status of the catastrophe bonds market. Cat bonds are innovative instruments of securitization, which play а significant role in the financing of natural disasters. Some of the advantages of catastrophe bonds issue are the possibility of expanding risk transfer, reducing credit risk exposure and improving capital management. The aim of research is to point out the possible ways of efficient financing of catastrophic losses, such as the issue of catastrophe bonds. Тhe paper will analyse the principal characteristics of cat bonds, as a significant instrument in connecting capital market with the insurance market. The author considered the current situation at the international and national level. Considering the tendencies in the international capital market, the author concluded that in the Republic of Serbia there is a legal gap and lack of harmonization of the existing legislation, which prevents the issue of catastrophe bonds.

Item Type: Article
Uncontrolled Keywords: Catastrophe Bonds, Cat Bonds, Capital Market, Insurance Market, Climate Changes, obveznice katastrofe, kat obveznice, tržište hartija od vrednosti, tržište osiguranja, klimatske promene
Institutional centre: Centre for legal research
Depositing User: Vesna Jovanović
Date Deposited: 10 Aug 2021 20:03
Last Modified: 10 Aug 2021 20:03

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