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Catastrophe

Author: Richard A. Posner

Publisher: Oxford University Press

Published: 2004-11-11

Total Pages: 336

ISBN-13: 9780195346398

Catastrophic risks are much greater than is commonly appreciated. Collision with an asteroid, runaway global warming, voraciously replicating nanomachines, a pandemic of gene-spliced smallpox launched by bioterrorists, and a world-ending accident in a high-energy particle accelerator, are among the possible extinction events that are sufficiently likely to warrant careful study. How should we respond to events that, for a variety of psychological and cultural reasons, we find it hard to wrap our minds around? Posner argues that realism about science and scientists, innovative applications of cost-benefit analysis, a scientifically literate legal profession, unprecedented international cooperation, and a pragmatic attitude toward civil liberties are among the keys to coping effectively with the catastrophic risks.

The Financing of Catastrophe Risk

Author: Kenneth A. Froot

Publisher: University of Chicago Press

Published: 2007-12-01

Total Pages: 490

ISBN-13: 0226266257

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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.

Natural Catastrophe Risk Management and Modelling

Author: Kirsten Mitchell-Wallace

Publisher: John Wiley & Sons

Published: 2017-04-24

Total Pages: 536

ISBN-13: 1118906071

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This book covers both the practical and theoretical aspects of catastrophe modelling for insurance industry practitioners and public policymakers. Written by authors with both academic and industry experience it also functions as an excellent graduate-level text and overview of the field. Ours is a time of unprecedented levels of risk from both natural and anthropogenic sources. Fortunately, it is also an era of relatively inexpensive technologies for use in assessing those risks. The demand from both commercial and public interests—including (re)insurers, NGOs, global disaster management agencies, and local authorities—for sophisticated catastrophe risk assessment tools has never been greater, and contemporary catastrophe modelling satisfies that demand. Combining the latest research with detailed coverage of state-of-the-art catastrophe modelling techniques and technologies, this book delivers the knowledge needed to use, interpret, and build catastrophe models, and provides greater insight into catastrophe modelling’s enormous potential and possible limitations. The first book containing the detailed, practical knowledge needed to support practitioners as effective catastrophe risk modellers and managers Includes hazard, vulnerability and financial material to provide the only independent, comprehensive overview of the subject, accessible to students and practitioners alike Demonstrates the relevance of catastrophe models within a practical, decision-making framework and illustrates their many applications Includes contributions from many of the top names in the field, globally, from industry, academia, and government Natural Catastrophe Risk Management and Modelling: A Practitioner’s Guide is an important working resource for catastrophe modelling analysts and developers, actuaries, underwriters, and those working in compliance or regulatory functions related to catastrophe risk. It is also valuable for scientists and engineers seeking to gain greater insight into catastrophe risk management and its applications.

Catastrophe Modeling

Author: Patricia Grossi

Publisher: Springer Science & Business Media

Published: 2006-01-27

Total Pages: 256

ISBN-13: 0387231293

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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 Risk Financing in Developing Countries

Author: J. David Cummins

Publisher: World Bank Publications

Published: 2009

Total Pages: 299

ISBN-13: 0821377361

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'Catastrophe Risk Financing in Developing Countries' provides a detailed analysis of the imperfections and inefficiencies that impede the emergence of competitive catastrophe risk markets in developing countries. The book demonstrates how donors and international financial institutions can assist governments in middle- and low-income countries in promoting effective and affordable catastrophe risk financing solutions. The authors present guiding principles on how and when governments, with assistance from donors and international financial institutions, should intervene in catastrophe insurance markets. They also identify key activities to be undertaken by donors and institutions that would allow middle- and low-income countries to develop competitive and cost-effective catastrophe risk financing strategies at both the macro (government) and micro (household) levels. These principles and activities are expected to inform good practices and ensure desirable results in catastrophe insurance projects. 'Catastrophe Risk Financing in Developing Countries' offers valuable advice and guidelines to policy makers and insurance practitioners involved in the development of catastrophe insurance programs in developing countries.

Global Catastrophic Risks

Author: Nick Bostrom

Publisher: Oxford University Press

Published: 2011-09-29

Total Pages: 577

ISBN-13: 0199606501

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A Global Catastrophic Risk is one that has the potential to inflict serious damage to human well-being on a global scale. This book focuses on such risks arising from natural catastrophes (Earth-based or beyond), nuclear war, terrorism, biological weapons, totalitarianism, advanced nanotechnology, artificial intelligence and social collapse.

Mastering Catastrophic Risk

Author: Howard Kunreuther

Publisher: Oxford University Press

Published: 2018

Total Pages: 249

ISBN-13: 0190499400

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Risk taking is inherent in competition and managing risk well is a mark of successful firms. Doing so is increasingly challenging given the pace of change, whether financial, technological, environmental, reputational, or political. Rethinking Catastrophic Risk draws on extensive interviewswith risk managers to provide real-world insights and a framework for smart thinking and planning for possible disruptions, adverse events, or crises that could seriously harm the normal business functions or operations of a firm.Corporate leaders face a series of ever-more-challenging decisions to avoid and respond to perils that can be caused by external forces or by harmful actions within the firm. The business world is growing ever riskier given rapid changes generated by increasing concentration of populations andassets, complex interdependencies of markets and supply-chains, pressures of short-term demands for results, and the pressures of transparency combined with the prominence of social media. Some shocks can be anticipated, but many others come as a surprise and create considerable stress on decisionmakers, often leading to even worse outcomes.As leading authorities on risk management, decision processes, and leadership, Howard Kunreuther, Erwann Michel-Kerjan, and Michael Useem draw on their extensive experience to enhance understanding of risk management and call for improving resilience to future shocks as an integral part of corporatestrategy. This book is chock-full of anecdotes based on extensive interviews with leaders from all sectors of the Fortune 500 and provides a framework for linking intuitive and deliberative thinking for managing low-probability, high-consequence events. It highlights the importance of institutionalarrangements and leadership capability and will benefit managers at all levels and especially executives and directors seeking to reposition their firms to better anticipate and manage adverse events.

Catastrophe Risk and Reinsurance

Author: Eugene N. Gurenko

Publisher: World Bank Publications

Published: 2004

Total Pages: 366

ISBN-13: 1904339204

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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.

Ultimate Risk

Author: Adam Raphael

Publisher: Corgi

Published: 1994

Total Pages: 376

ISBN-13:

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Catastrophe Risk Management

Author: John D. Pollner

Publisher: World Bank Publications

Published: 2001

Total Pages: 130

ISBN-13:

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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.