Similar title to Ermoliev, Y.M., Ermolieva, T.Y., MacDonald, G.J., & Norkin, V.I. (2000). Insurability of Catastrophic Risks: The Stochastic Optimization Model. IIASA Research Report (Reprint). IIASA, Laxenburg, Austria: RR-00-020. Reprinted from Optimization, 47:251-265 [2000].