Cat-Bonds. Analyse der Chancen und Risiken
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Studienarbeit aus dem Jahr 2015 im Fachbereich Ratgeber - Recht, Beruf, Finanzen, Note: 1,3, FOM Hochschule für Oekonomie & Management gemeinnützige GmbH, Berlin früher Fachhochschule, Veranstaltung: Masterstudium Finance & Accounting, Sprache: Deutsch, Abstract: Bereits seit den 1950er Jahren ist eine unumstrittene Klimaerwärmung beobachtbar. Ihre Ausprägung zeigt sich in dem Rückgang der Eisschilde in Grönland und der Antarktis, dem damit einhergehenden Anstieg des Meeresspiegels, sowie in der Erwärmung der Atmosphäre und der Zunahme der Treibhausgase. Neben den allgemeinen Ausprägungen lassen sich immer häufiger auftretenden Naturkatastrophen, wie das Seebeben der Stärke 9,1 im Jahr 2004 in Indonesien, die Erdbeben in Kaschmir, Sichuan, Haiti, Sendai oder Neapel erkennen. Diese fordern nicht nur immer wieder zahlreiche Menschenleben, sondern sorgen in den Ortschaften für Verwüstung und erschwerte Lebensbedingungen, wie Beispielsweise der Hurrikan Katrina, der 2005 einen wirtschaftlichen Schaden von 125 Mrd. USD verursachte. Gerade für einkommensschwächere Länder stellt die wachsende Zahl an Naturkatastrophen eine au erordentliche Belastung dar, weshalb der Umgang mit ihnen an Bedeutung gewinnt. Neben den Möglichkeiten in Früherkennungs- und Absicherungsma nahmen zu investieren, besteht des Weiteren die Notwendigkeit, die Kosten für die Schadenbeseitigung abzusichern. Die bis dato genutzte Lösung der klassischen Rückversicherung erfuhr in den 90er Jahren, aufgrund einer Häufung von Gro schadenereignissen eine enorme Verknappung ihrer Rückversicherungskapazität. Das war der Auslöser für die Suche nach weiteren Möglichkeiten, die Absicherungskapazitäten zu erweitern. Eine Antwort, die immer noch bestand hat, stellte die Verbriefung von Naturkatastrophen in sogenannte Katastrophenanleihen (engl. Catastrophe-Bonds; kurz: Cat-Bonds) dar. Durch diese Variante konnten versicherungstechnische Risiken erstmals an die Kapitalmärkte transferiert werden und dessen Finanzkap
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