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Author: OECD
Publisher: OECD Publishing
Published: 2005-07-06
Total Pages: 424
ISBN-13: 9264009957
DOWNLOAD EBOOK →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.
Author: OECD
Publisher: OECD Publishing
Published: 2011-08-12
Total Pages: 166
ISBN-13: 9264046607
DOWNLOAD EBOOK →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.
Author:
Publisher: OECD Publishing
Published: 2005
Total Pages: 436
ISBN-13:
DOWNLOAD EBOOK →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.
Author: OECD
Publisher: OECD Publishing
Published: 2008-09-05
Total Pages: 315
ISBN-13: 9264041516
DOWNLOAD EBOOK →Contains three reports focusing on different institutional approaches to the financial management of large-scale catastrophes, the role of risk mitigation and insurance in reducing the impact of natural disasters, and the importance of strategic leadership in the management of crises.
Author: OECD
Publisher: OECD Publishing
Published: 2011-08-12
Total Pages: 164
ISBN-13: 9789264046597
DOWNLOAD EBOOK →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.
Author:
Publisher: OECD
Published: 2003-11-21
Total Pages: 98
ISBN-13:
DOWNLOAD EBOOK →From the increasing incidence of environmental pollution and soil contamination, to recurring natural disasters, the risks posed by the constant interaction between human activities and the environment are diverse, manifold and often catastrophic in their consequences. Therefore, the elaboration of effective risk-management plans, aimed at formulating viable response strategies, requires the contribution of all the economic actors involved: private parties, financial institutions, governments and international organizations. This report focuses on the role of insurance and reinsurance companies in the management of environmental risks - environmental pollution risk and natural catastrophe risk in particular. It discusses the issue of insurability of such risks, analyses the increasing risk of liability for environmental pollution and the underlying trends in the development of environmental liability regimes in OECD countries. It also presents an overview of the various environmental pollution insurance products and techniques developed in response to legal and factual evolutions. In addition, it describes the special features of natural catastrophe risks, the role of traditional insurance markets in the coverage of such perils, and alternative options of coverage, from governmental disaster schemes to new financial market instruments.
Author: OECD
Publisher: OECD Publishing
Published: 2008-09-30
Total Pages: 312
ISBN-13: 9789264040786
DOWNLOAD EBOOK →Contains three reports focusing on different institutional approaches to the financial management of large-scale catastrophes, the role of risk mitigation and insurance in reducing the impact of natural disasters, and the importance of strategic leadership in the management of crises.
Author: Kenneth A. Froot
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 490
ISBN-13: 0226266257
DOWNLOAD EBOOK →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.
Author: Martin F. Grace
Publisher: Springer Science & Business Media
Published: 2012-12-06
Total Pages: 150
ISBN-13: 1441992685
DOWNLOAD EBOOK →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.
Author: Eugene N. Gurenko
Publisher: World Bank Publications
Published: 2004
Total Pages: 366
ISBN-13: 1904339204
DOWNLOAD EBOOK →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.
