Case | HBS Case Collection | July 1997 (Revised September 1997)

USAA: Catastrophe Risk Financing

by Kenneth A. Froot and Mark Seasholes


Describes the first major risk financing using catastrophe bonds. Provides a basis for discussing the securitization of insurance risks.

Keywords: Financial Management; Insurance; Capital Markets; Natural Disasters; Risk Management; Bonds; Insurance Industry; Financial Services Industry; United States;


Froot, Kenneth A., and Mark Seasholes. "USAA: Catastrophe Risk Financing." Harvard Business School Case 298-007, July 1997. (Revised September 1997.)