Catastrophic Risk

Analysis and Management

Author: Erik Banks

Publisher: John Wiley & Sons


Category: Business & Economics

Page: 190

View: 112

Catastrophic risk is one of the most significant and challenging areas of corporate risk management. Analyze this risk for your company with Catastrophic Risk and make sure you have sufficient resources to absorb losses and avoid financial distress. The first comprehensive volume to address this topic from a financial perspective, this book is a guide to the worst financial risks threatening companies and industries today. Author Eric Banks begins with a consideration of ?catastrophe? and its mplications, looks at the state of actuarial and financial modelling of catastrophe risks, and discusses the creation of a risk management framework that will enable the efficient and secure management of exposure. Catastrophic Risk is essential reading if you're a corporate treasurer, CFO, or insurance/financial risk manager responsible for corporate risk management. Order your copy today.

Catastrophic Risk

Business Strategy for Managing Turbulence in a World at Risk

Author: Richard L. Alfred

Publisher: CRC Press


Category: Business & Economics

Page: 220

View: 119

Imagine that you are a corporate executive or small business owner in a midwestern city under water after weeks of extreme weather and drenching rainfall. Infrastructure has been damaged beyond repair, transportation arteries are closed, and your supply chain is broken. Families have been driven from homes, food and water are in short supply, and people are becoming unruly. Government agencies are not in a position to help. Declining revenue and partisan antipathy fueled by ideological differences have eroded confidence in government. The city is in total disrepair and unable to deliver desperately needed services. It is edging toward implosion and community leaders have turned to you for help. Catastrophe that would have been unthinkable in earlier times is a reality in a world coming out of pandemic and facing existential threats such as climate change, inequality and global conflict. Catastrophic Risk: Business Strategy for Managing Turbulence in a World at Risk challenges business to step up and assume a pivotal role with communities under stress due to prolonged exposure to risk. When powerful societal forces meet behavior that deters response to risk, the consequences of risk are exacerbated. The compounding effect of behavior on risk has opened an important role for business in mobilizing people and communities in times of crisis. It is a role that cannot be fulfilled, however, without purpose, strategy and plans sufficiently robust to overcome the threat of risk. To prosper in this environment, business will need to make a significant contribution to society as well as to deliver financial performance. For companies, this will mean involvement in community in ways that significantly depart from current practice. For leaders, it will mean new skills—contextual sensitivity, a greater understanding of behavioral dynamics, and enhanced capacity to relate to people on an emotive basis. This book is about the relationship between risk, societal forces and human behavior—a relationship informed by the sciences that is critically important for business. Its goal is two-fold: to bring catastrophic risk to the world of business and to further business engagement in service to the common good.

Mastering Catastrophic Risk

How Companies Are Coping with Disruption

Author: Howard Kunreuther

Publisher: Oxford University Press


Category: Business & Economics

Page: 256

View: 965

A profound and insightful look at how company leaders prepare for and respond to shocks and crises that threaten their business. Successful firms strategically manage and are more accurate in their assessment of large-scale risks. Doing so is increasingly challenging given the pace of change, whether financial, technological, regulatory, or environmental. Mastering Catastrophic Risk provides real-world practical insights into how large companies are responding to this new reality and develops a framework for smarter thinking about events that can damage a business. As leading authorities on risk management, strategy, and company leadership, Howard Kunreuther and Michael Useem take us on a groundbreaking tour of firms' decision making process. They demonstrate how improving readiness for and resilience against future shocks is now an integral part of company strategy. Using the "DISRUPT" model they have developed, they highlight the seven primary Drivers of disruption: Interdependencies increase exposure; Short-term focus results in limited vision; Regulations require change and constrain opportunities; Urbanization increases the costs of disasters; Probabilities of disasters have increased; and Transparency has enhanced public awareness of problems and impacts on firms' reputations. Some disruptions can be anticipated, while others arrive without warning. Their onset stresses decision makers, impairs company operations, and may even put the enterprise at risk. The bottom-line: business leaders and their governing boards face ever more challenging disruptions and must be ever more on guard. If your company is hit tomorrow, will it bounce back, or drown?

Catastrophe Risk Management

Using Alternative Risk Financing and Insurance Pooling Mechanisms

Author: John D. Pollner

Publisher: World Bank Publications


Category: Disaster insurance

Page: 126

View: 133

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.

Policy Issues in Insurance Risk Awareness, Capital Markets and Catastrophic Risks

Author: OECD

Publisher: OECD Publishing



Page: 164

View: 762

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.

Global Catastrophic Risks

Author: Nick Bostrom

Publisher: OUP Oxford


Category: Science

Page: 578

View: 438

A global catastrophic risk is one with the potential to wreak death and destruction on a global scale. In human history, wars and plagues have done so on more than one occasion, and misguided ideologies and totalitarian regimes have darkened an entire era or a region. Advances in technology are adding dangers of a new kind. It could happen again. In Global Catastrophic Risks 25 leading experts look at the gravest risks facing humanity in the 21st century, including asteroid impacts, gamma-ray bursts, Earth-based natural catastrophes, nuclear war, terrorism, global warming, biological weapons, totalitarianism, advanced nanotechnology, general artificial intelligence, and social collapse. The book also addresses over-arching issues - policy responses and methods for predicting and managing catastrophes. This is invaluable reading for anyone interested in the big issues of our time; for students focusing on science, society, technology, and public policy; and for academics, policy-makers, and professionals working in these acutely important fields.

Catastrophe Risk Financing in Developing Countries

Principles for Public Intervention

Author: J. David Cummins

Publisher: World Bank Publications


Category: Political Science

Page: 268

View: 342

'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.

Catastrophe Risk

U. S. and European Approaches to Insure Natural Catastrophe and Terrorism Risks

Author: William B. Shear

Publisher: DIANE Publishing



Page: 74

View: 978

Natural catastrophes & terrorist attacks (NCTA) can place enormous financial demands on the insur. industry (II), result in sharply higher prem. & substantially reduced coverage. There are mechanisms to increase the capacity of the II to manage these events. This report: (1) provides an overview of the II's current capacity to cover NCTA risks & discusses the impacts of the 2004 hurricanes; (2) analyzes the potential of catastrophe bonds -- a security issued by insurers & reinsur. & sold to instit'l. investors -- & tax-ded. reserves to enhance private-sector capacity; & (3) describes the approaches that 6 European countries have taken, incl. whether these countries permit insurers to use tax-deductible reserves for such events. Tables.

Integrated Catastrophe Risk Modeling

Supporting Policy Processes

Author: Aniello Amendola

Publisher: Springer Science & Business Media


Category: Nature

Page: 290

View: 891

Efficient and equitable policies for managing disaster risks and adapting to global environmental change are critically dependent on development of robust options supported by integrated modeling. The book is based on research and state-of-the art models developed at IIASA (International Institute for Applied Systems Analysis) and within its cooperation network. It addresses the methodological complexities of assessing disaster risks, which call for stochastic simulation, optimization methods and economic modeling. Furthermore, it describes policy frameworks for integrated disaster risk management, including stakeholder participation facilitated by user-interactive decision-support tools. Applications and results are presented for a number of case studies at different problem scales and in different socio-economic contexts, and their implications for loss sharing policies and economic development are discussed. Among others, the book presents studies for insurance policies for earthquakes in the Tuscany region in Italy and flood risk in the Tisza river basin in Hungary. Further, it investigates the economic impact of natural disasters on development and possible financial coping strategies; and applications are shown for selected South Asian countries. The book is addressed both to researchers and to organizations involved with catastrophe risk management and risk mitigation policies.

Catastrophic Risks and Insurance

Author: Organisation for Economic Co-operation and Development

Publisher: OECD


Category: Business & Economics

Page: 436

View: 198

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.