This book displays current state-of-the-art thinking about addressing a most
formidable risk management challenge: natural disasters at the national level. It is a
timely addition to the literature on risk management. The diversity of opinions as well as
the balance of viewpoints from academia, industry, and government, ensures that the
approach taken is comprehensive.
Lloyd Foster, Vice President, Risk Management and Pricing, Transamerica Reinsurance
A comprehensive summary of the tools and prerequisites for natural catastrophe
financing schemes, based on practical examples and top expert input from around the world.
Edouard Schmid, Swiss Re
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.
Drawing on material from a recent World Bank conference, Eugene N. Gurenko assembles
some of the foremost reinsurance and risk management experts from industry and academia.
The chapters thoroughly explore subjects such as country risk assessment, risk modelling,
risk transfer methods and national reinsurance.
- Outlines the key challenges involved in building national catastrophe insurance schemes
and suggests how disaster-prone countries can manage their exposures to reduce the cost of
risk by following the classical corporate risk management model
- Demonstrates the importance of public-private partnerships in catastrophe risk financing
by suggesting the roles of government and private risk markets
- In addition to risk financing, this title uniquely covers the role of risk reduction and
prevention in disaster prone countries
Table of contents
CONTENTS
Foreword
Cesare Callari
Introduction
Eugene N. Gurenko
Section 1: The institutional perspective on national catastrophe risk management
1 Building Effective Catastrophe Insurance Programmes at the Country Level: A Risk
Management Perspective
Eugene N. Gurenko
2 Catastrophe Risk Retention and Catastrophe Pools
Rodney Lester
Section 2: Catastrophe risk measurement
3 Catastrophe Risk Models for Asia from a User Perspective
George Walker
4 The Application of Probabilistic Earthquake Risk Models in Managing Earthquake Insurance
Risks in Turkey
Dennis Kuzak, Ken Campbell and Mahmoud Khater
5 Quantifying the Catastrophe Exposures from Cyclones, Earthquakes and Floods in 4 Indian
States
Adityam Krovvidi
Section 3: Risk reduction vs. risk Transfer: which strategy works best?
6 The National Flood Insurance Programme: A Model for Risk Management
Anthony S. Lowe
7 Flood Risk - Optimising a National Insurance Programme
Charles Scawthorn
8 Integrating Mitigation with Risk Transfer Instruments
Howard Kunreuther, George Deodatis, and Andrew Smyth
9 Development Enhancing Risk Management
Caroline Clarke and Neil A. Doherty
10 New Approaches to Promote Disaster Risk Mitigation: Lessons learned in the Europe and
Central Asia Region
Christoph Pusch
Section 4: Public-private partnerships in catastrophe risk management
11 Retrocession vs. Alternative Markets in Managing a Reinsurer's Accumulations
Andrew Castaldi
12 Florida Hurricane Catastrophe Fund: Lessons and Experience
Jack E. Nicholson
13 Insuring the Uninsurable : The French Natural Catastrophe Insurance System
Suzanne Vallet
14 A Reinsurer's Perspective on the Turkish Catastrophe Insurance Pool
Johann-Adrian von Lucius
15 Government as Reinsurer of Last Resort: The Japanese Experience
Yuichi Takeda
16 The Viability and Likely Pricing of Cat Bonds for Developing Countries
Morton Lane
Section 5: Managing moral hazard and product distribution costs: key operational
challenges
17 Evidence of Market Response to Coverage Value in Some Major Catastrophe Insurance
Programmes
John Seo
18 Self-Insurance Funds in Mexico
Hector Ibarra
19 Providing Access to Catastrophic Insurance Coverage for the Poor: Key Factors for
Success
Douglas Lacey
NB This table of contents is provisional until final publication of the book. Small
changes to chapter titles and sequence may occur.
Hardback
332 pages
