Insurance And Weather Derivatives
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Insurance And Weather Derivatives
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Author : Hélyette Geman
language : en
Publisher: Risk Books
Release Date : 1999
Insurance And Weather Derivatives written by Hélyette Geman and has been published by Risk Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
A unique and diverse resource on the developing theory and practice of pricing and managing insurance derivatives, insurance-risk securitisation and weather derivatives.
Weather Derivatives
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Author : Antonis Alexandridis K.
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-11-30
Weather Derivatives written by Antonis Alexandridis K. 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 2012-11-30 with Business & Economics categories.
Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to minimize risk associated with adverse or unexpected weather conditions. Just as traditional contingent claims, a weather derivative has an underlying measure, such as: rainfall, wind, snow or temperature. Nearly $1 trillion of the U.S. economy is directly exposed to weather-related risk. More precisely, almost 30% of the U.S. economy and 70% of U.S. companies are affected by weather. The purpose of this monograph is to conduct an in-depth analysis of financial products that are traded in the weather market. Presenting a pricing and modeling approach for weather derivatives written on various underlying weather variables will help students, researchers, and industry professionals accurately price weather derivatives, and will provide strategies for effectively hedging against weather-related risk. This book will link the mathematical aspects of the modeling procedure of weather variables to the financial markets and the pricing of weather derivatives. Very little has been published in the area of weather risk, and this volume will appeal to graduate-level students and researchers studying financial mathematics, risk management, or energy finance, in addition to investors and professionals within the financial services industry.
Weather Derivatives
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Author : S. Volker
language : en
Publisher: GRIN Verlag
Release Date : 2007-08
Weather Derivatives written by S. Volker and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08 with categories.
Research Paper (undergraduate) from the year 2006 in the subject Business economics - Investment and Finance, grade: 1,7, University of Applied Sciences Essen, course: Case study in the core subject International Management - Risk Management, language: English, abstract: The ability to hedge price risks of industrial and consumer goods is well-developed an widely used, but, for many customers and companies, a variance in the unit volume being caused by a unexpected weather situation can be as detrimental to the bottom line as unit price variation. In the past, market participants were exposed defencelessly to this risk, because "weather has been anything but predictable..." There was bundle of incidents in the late 90's which lead to the development of weather derivatives as a new, flexible instrument to mitigate risk resulting from weather: First, the changing world climate causes more often extreme weather situations such as El Nino. Weather catastrophes like the hurricanes Katrina and Rita in the USA, summer flood of 2002 and the desert summer of 2003 in Germany have been increasing the awareness of weather risks among the population and in the management of the companies. Unforeseen weather conditions may cause a decline in companies' earnings. It is likely to imagine, that, for example, a cold and rainy summer will lead to a plummeting consumption of ice cream. In times of an upward tending importance of the shareholder value approach, a professional and effective risk management is inalienable. Insurance policies can cover catastrophic damages, but derivatives are an efficient tool to face financial risks resulting from the weather and to stabilize earnings. Secondly, the worldwide markets are changing. Formerly strictly regulated markets show an ongoing trend of deregulation and therefore a development from monopolies to wholesale markets. Facing a new, competitive situation, companies have to realize, that it does not last to hedge the unit price of their go
Weather Derivative Valuation
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Author : Stephen Jewson
language : en
Publisher: Cambridge University Press
Release Date : 2005-03-10
Weather Derivative Valuation written by Stephen Jewson and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-03-10 with Business & Economics categories.
Originally published in 2005, Weather Derivative Valuation covers all the meteorological, statistical, financial and mathematical issues that arise in the pricing and risk management of weather derivatives. There are chapters on meteorological data and data cleaning, the modelling and pricing of single weather derivatives, the modelling and valuation of portfolios, the use of weather and seasonal forecasts in the pricing of weather derivatives, arbitrage pricing for weather derivatives, risk management, and the modelling of temperature, wind and precipitation. Specific issues covered in detail include the analysis of uncertainty in weather derivative pricing, time-series modelling of daily temperatures, the creation and use of probabilistic meteorological forecasts and the derivation of the weather derivative version of the Black-Scholes equation of mathematical finance. Written by consultants who work within the weather derivative industry, this book is packed with practical information and theoretical insight into the world of weather derivative pricing.
The Indian Insurance Industry And Climate Change
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Author : TERI Project Team
language : en
Publisher: The Energy and Resources Institute (TERI)
Release Date : 2006-01-01
The Indian Insurance Industry And Climate Change written by TERI Project Team and has been published by The Energy and Resources Institute (TERI) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Science categories.
Modeling And Pricing In Financial Markets For Weather Derivatives
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Author : Fred Espen Benth
language : en
Publisher: World Scientific
Release Date : 2013
Modeling And Pricing In Financial Markets For Weather Derivatives written by Fred Espen Benth and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Weather derivatives provide a tool for weather risk management, and the markets for these exotic financial products are gradually emerging in size and importance. This unique monograph presents a unified approach to the modeling and analysis of such weather derivatives, including financial contracts on temperature, wind and rain. Based on a deep statistical analysis of weather factors, sophisticated stochastic processes are introduced modeling the time and space dynamics. Applying ideas from the modern theory of mathematical finance, weather derivatives are priced, and questions of hedging analyzed. The treatise contains an in-depth analysis of typical weather contracts traded at the Chicago Mercantile Exchange (CME), including so-called CDD and HDD futures. The statistical analysis of weather variables are based on a large data set from Lithuania. The monograph includes the research done by the authors over the last decade on weather markets. Their work has gained considerable attention, and has been applied in many contexts.
Risk Management Insurance And Derivatives
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Author : G. Kotreshwar
language : en
Publisher:
Release Date : 2008
Risk Management Insurance And Derivatives written by G. Kotreshwar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Derivative securities categories.
Actuarial Finance
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Author : Mathieu Boudreault
language : en
Publisher: John Wiley & Sons
Release Date : 2019-04-09
Actuarial Finance written by Mathieu Boudreault and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-09 with Mathematics categories.
A new textbook offering a comprehensive introduction to models and techniques for the emerging field of actuarial Finance Drs. Boudreault and Renaud answer the need for a clear, application-oriented guide to the growing field of actuarial finance with this volume, which focuses on the mathematical models and techniques used in actuarial finance for the pricing and hedging of actuarial liabilities exposed to financial markets and other contingencies. With roots in modern financial mathematics, actuarial finance presents unique challenges due to the long-term nature of insurance liabilities, the presence of mortality or other contingencies and the structure and regulations of the insurance and pension markets. Motivated, designed and written for and by actuaries, this book puts actuarial applications at the forefront in addition to balancing mathematics and finance at an adequate level to actuarial undergraduates. While the classical theory of financial mathematics is discussed, the authors provide a thorough grounding in such crucial topics as recognizing embedded options in actuarial liabilities, adequately quantifying and pricing liabilities, and using derivatives and other assets to manage actuarial and financial risks. Actuarial applications are emphasized and illustrated with about 300 examples and 200 exercises. The book also comprises end-of-chapter point-form summaries to help the reader review the most important concepts. Additional topics and features include: Compares pricing in insurance and financial markets Discusses event-triggered derivatives such as weather, catastrophe and longevity derivatives and how they can be used for risk management; Introduces equity-linked insurance and annuities (EIAs, VAs), relates them to common derivatives and how to manage mortality for these products Introduces pricing and replication in incomplete markets and analyze the impact of market incompleteness on insurance and risk management; Presents immunization techniques alongside Greeks-based hedging; Covers in detail how to delta-gamma/rho/vega hedge a liability and how to rebalance periodically a hedging portfolio. This text will prove itself a firm foundation for undergraduate courses in financial mathematics or economics, actuarial mathematics or derivative markets. It is also highly applicable to current and future actuaries preparing for the exams or actuary professionals looking for a valuable addition to their reference shelf. As of 2019, the book covers significant parts of the Society of Actuaries’ Exams FM, IFM and QFI Core, and the Casualty Actuarial Society’s Exams 2 and 3F. It is assumed the reader has basic skills in calculus (differentiation and integration of functions), probability (at the level of the Society of Actuaries’ Exam P), interest theory (time value of money) and, ideally, a basic understanding of elementary stochastic processes such as random walks.
Innovative Agricultural Insurance Products And Schemes
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Author : Kang, M.G.
language : en
Publisher: Food & Agriculture Org.
Release Date : 2007
Innovative Agricultural Insurance Products And Schemes written by Kang, M.G. and has been published by Food & Agriculture Org. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Agricultural insurance categories.
Weather Derivative Valuation
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Author : Stephen Jewson
language : en
Publisher:
Release Date : 2005
Weather Derivative Valuation written by Stephen Jewson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Weather derivatives categories.