|  | Banks, Erik
Catastrophic Risk
Analysis and Management
Wiley Finance Series
 1. Edition - March 2005
77.90 Euro
2005. 190 Pages, Hardcover
ISBN-10: 0-470-01236-6
ISBN-13: 978-0-470-01236-9 - John Wiley & Sons
Sample Chapter
Short description
Catastrophic risk stands as one of the most significant and challenging areas of corporate risk management. The onset of hurricane, earthquake, windstorm, terrorism, systemic financial dislocation, or "clash losses" can create billions of dollars of losses, financially damaging companies and regional/national economies. A single "supercat" event affecting a densely populated and economically productive area may be exceptionally devastating, causing losses in excess of $100 billion.
This book is a timely guide to the worst financial risks threatening companies and industries today. Beginning with a consideration of 'catastrophe' and its economic and risk implications, this book goes on to look at the state of actuarial and financial modelling of catastrophe risks, pricing catastrophe risk from the reinsurance and capital markets, and how to create a suitable risk management framework to manage exposure efficiently and securely.
From the contents
Acknowledgments.
About the author.
PART I: IDENTIFICATION AND ANALYSIS OF CATASTROPHIC RISK.
1 Catastrophe and Risk.
1.1 Introduction.
1.2 The nature of catastrophe.
1.3 The scope of impact.
1.4 Catastrophe and the risk management framework.
1.5 Overview of the book.
2 Risk Identification I: Perils.
2.1 Natural catastrophe.
2.2 Man-made catastrophe.
2.3 Mega-catastrophe and clash loss.
3 Risk Identification II: Regional Vulnerability.
3.1 Spatial impact of natural catastrophes.
3.2 Spatial impact of man-made catastrophes.
3.3 Urban vulnerabilities.
4 Modeling Catastrophic Risk.
4.1 The development and use of models.
4.2 The goals of catastrophe modeling.
4.3 General model construction.
4.4 Challenges.
PART II: MANAGEMENT OF CATASTROPHIC RISK.
5 Catastrophe and the Risk Management Framework.
5.1 Active risk management.
5.2 Risk monitoring.
5.3 Private and public sector efforts.
5.4 Sources of capital.
5.5 Toward active risk management.
6 Catastrophe Insurance and Reinsurance.
6.1 Insurable risk and insurance.
6.2 Catastrophe insurance.
6.3 Reinsurance.
6.4 Catastrophe reinsurance.
6.5 Market cycles.
6.6 Internal risk management.
6.7 Challenges.
7 Catastrophe Bonds and Contingent Capital.
7.1 Overview of securitization.
7.2 Catastrophe bonds.
7.3 Contingent capital.
7.4 Challenges.
8 Catastrophe Derivatives.
8.1 Overview of derivatives.
8.2 Exchange-traded catastrophe derivatives.
8.3 OTC Catastrophe derivatives.
8.4 Challenges.
9 Public Sector Management and Financing.
9.1 Forms of public sector involvement.
9.2 Challenges.
10 Outlook and Conclusions.
10.1 Loss control.
10.2 Quantification.
10.3 Loss financing.
10.4 Government participation.
10.5 General management.
Bibliography.
Index.
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