Catastrophic Risks And Insurance
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Policy Issues In Insurance Catastrophic Risks And Insurance
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2005-07-06
Policy Issues In Insurance Catastrophic Risks And Insurance written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-06 with categories.
These conference proceedings present academic analysis, country reports, and financial/insurance company assessments on how to handle losses caused by large-scale catastrophes including terrorism and atmospheric perils.
Catastrophe Risk And Reinsurance
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Author : Eugene N. Gurenko
language : en
Publisher: World Bank Publications
Release Date : 2004
Catastrophe Risk And Reinsurance written by Eugene N. Gurenko and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Banks and Banking Reform categories.
Including the latest invaluable insights into catastrophe reinsurance, this book provides you with a wealth of risk management expertise gained from many of the largest catastrophe risk transfer programmes worldwide.
Catastrophic Risks And Insurance
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Author :
language : en
Publisher: OECD Publishing
Release Date : 2005
Catastrophic Risks And Insurance written by and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
This volume is the eighth of a series devoted to major policy issues in insurance, and sets out the proceedings of a conference, held in Paris in November 2004, to discuss options for dealing with losses caused by large-scale disasters. It contains a selection of papers and reports which focus on three key issues: the insurability of catastrophic risks; the extent to which financial markets can help address the risks of both natural disasters and terrorism; and the role of governments and public-private partnerships in the management of such risks.
Catastrophe Risk Management
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Author : John D. Pollner
language : en
Publisher: World Bank Publications
Release Date : 2001
Catastrophe Risk Management written by John D. Pollner and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Disaster insurance categories.
In providing support for disaster-prone areas such as the Caribbean, the development community has begun to progress from disaster reconstruction assistance to funding for investment in mitigation as an explicit tool for sustainable development. Now it must enter a new phase, applying risk transfer mechanisms to address the financial risk of exposure to catastrophic events that require funding beyond what can be controlled solely through mitigation and physical measures.
The Financing Of Catastrophe Risk
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Author : Kenneth A. Froot
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
The Financing Of Catastrophe Risk written by Kenneth A. Froot and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
Is it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed $10 billion was unthinkable. With ever increasing property-casualty risks and unabated growth in hazard-prone areas, insurers and reinsurers now envision the possibility of disaster losses of $50 to $100 billion in the United States. Against this backdrop, the capitalization of the insurance and reinsurance industries has become a crucial concern. While it remains unlikely that a single event might entirely bankrupt these industries, a big catastrophe could place firms under severe stress, jeopardizing both policy holders and investors and causing profound ripple effects throughout the U.S. economy. The Financing of Catastrophe Risk assembles an impressive roster of experts from academia and industry to explore the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays offer tangible means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.
Policy Issues In Insurance Risk Awareness Capital Markets And Catastrophic Risks
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-08-12
Policy Issues In Insurance Risk Awareness Capital Markets And Catastrophic Risks written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-12 with categories.
Includes reports on initiatives to promote natural hazard awareness and disaster risk reduction education, the role of financial markets in financial mitigation of large-scale risks, mechanisms used to quantify catastrophe losses, and hazard risk mapping efforts in Southeast Asian countries.
Managing Catastrophic Disaster Risks Using Alternative Risk Financing And Pooled Insurance Structures
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Author : John D. Pollner
language : en
Publisher: World Bank Publications
Release Date : 2001-01-01
Managing Catastrophic Disaster Risks Using Alternative Risk Financing And Pooled Insurance Structures written by John D. Pollner and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Business & Economics categories.
This report examines the existing constraints and opportunities to implement a catastrophe insurance system which can resolve the key obstacles currently impeding broader implementation of a risk funding approach. The four main pillars in such a strategy involve: strengthening the insurance sector regulatory requirements and supervision; establishment of broad based pooled catastrophe funding structures with efficient risk transfer tools; promoting public insurance policies linked to programs for loss reduction in the uninsured sectors; and strengthening the risk assessment and enforcement of structural measures such as zoning and building code compliance.
Sovereign Natural Disaster Insurance For Developing Countries A Paradigm Shift In Catastrophe Risk Financing
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Author : Francis Ghesquiere
language : en
Publisher: World Bank Publications
Release Date : 2007
Sovereign Natural Disaster Insurance For Developing Countries A Paradigm Shift In Catastrophe Risk Financing written by Francis Ghesquiere and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Banks and Banking Reform categories.
Abstract: Economic theory suggests that countries should ignore uncertainty for public investment and behave as if indifferent to risk because they can pool risks to a much greater extent than private investors can. This paper discusses the general economic theory in the case of developing countries. The analysis identifies several cases where the government's risk-neutral assumption does not hold, thus making rational the use of ex ante risk financing instruments, including sovereign insurance. The paper discusses the optimal level of sovereign insurance. It argues that, because sovereign insurance is usually more expensive than post-disaster financing, it should mainly cover immediate needs, while long-term expenditures should be financed through post-disaster financing (including ex post borrowing and tax increases). In other words, sovereign insurance should not aim at financing the long-term resource gap, but only the short-term liquidity need.
Catastrophe Modeling
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Author : Patricia Grossi
language : en
Publisher: Springer
Release Date : 2004-12-17
Catastrophe Modeling written by Patricia Grossi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-12-17 with Business & Economics categories.
Based on the research that has been conducted at Wharton Risk Management Center over the past five years on catastrophic risk. Covers a hot topic in the light of recent terroristic activities and nature catastrophes. Develops risk management strategies for reducing and spreading the losses from future disasters. Provides glossary of definitions and terms used throughout the book.
Catastrophe Insurance
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Author : Martin F. Grace
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Catastrophe Insurance written by Martin F. Grace and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
1. THE PROBLEM OF CATASTROPHE RISK The risk of large losses from natural disasters in the U.S. has significantly increased in recent years, straining private insurance markets and creating troublesome problems for disaster-prone areas. The threat of mega-catastrophes resulting from intense hurricanes or earthquakes striking major population centers has dramatically altered the insurance environment. Estimates of probable maximum losses (PMLs) to insurers from a mega catastrophe striking the U.S. range up to $100 billion depending on the location and intensity of the event (Applied Insurance Research, 2001).1 A severe disaster could have a significant financial impact on the industry (Cummins, Doherty, and Lo, 2002; Insurance Services Office, 1996a). Estimates of industry gross losses from the terrorist attack on September 11, 2001 range from $30 billion to $50 billion, and the attack's effect on insurance markets underscores the need to understand the dynamics of the supply of and the demand for insurance against extreme events, including natural disasters. Increased catastrophe risk poses difficult challenges for insurers, reinsurers, property owners and public officials (Kleindorfer and Kunreuther, 1999). The fundamental dilemma concerns insurers' ability to handle low-probability, high-consequence (LPHC) events, which generates a host of interrelated issues with respect to how the risk of such events are 1 These probable maximum loss (PML) estimates are based on a SOD-year "return" period.