- Provides an innovative and detailed insight on a variety of issues to include an overview of the reinsurance industry, contingent financing, terrorism risk, captives, finite risk, loss portfolio transfers, catastrophe risk, modelling issues and risk swaps
- Multi-author contributions from leading industry experts and academics on the key issues surrounding this area
- Includes an up-to-date discussion of the effects of September 11th on the insurance and reinsurance markets.
- Chronicles the market changes from traditional methods of insurance through industry developments, research and current practice
- Publish date
- 1 Apr 2002
- 155mm x 235mm
Table of contents
Morton Lane, Lane Financial, LLC
PART I : PRODUCT TYPES FOR TRANSFERRING, FINANCING, TRANSFORMING AND RETAINING RISK.
1 Reinsurance vs Other Risk-transfer Instruments - the Reinsurer’s Perspective.
Kenneth J. Bock and Manfred W. Seitz, Munich Re
2 Managing Risk using Index-linked Catastrophic Loss securities
J.David Cummins, David LaLonde and Richard D. Phillips, Wharton, AIR and GSU
3 Catastrophe Bonds.
David Mocklow, John DeCaro and Matthew McKenna, Cochran-Coronia
4 Industry Loss Warrantees.
Enda McDonnell, Access Re
5 Risk Swaps.
Yuichi Takeda, The Tokio Marine and Fire Insurance Company Co. Ltd
6 Contingent Capital and the Art of Corporate Finance
Christopher L. Culp, University of Chicago
7 Contingent Covers.
Bryon Ehrhart, Aon
8 Finite Risk Insurance and Reinsurance.
Oscar Tymon, Centre Solutions
Paul Wöhrmann and Christoph Bürer, Zurich Financial Services
PART II : THE PRICE OF RISK AND ITS VOLATILITY.
10 Catastrophe Risk Pricing in the Traditional Market .
John A. Major and Rodney E. Kreps, Guy Carpenter
11 Pricing of Catastrophe Bonds.
Shaun Wang, SCOR
12 Implications of Market Shocks: Capacity, Price Volatility and the Value of Transparency.
Joan Lamm-Tennant, General Cologne Re
PART III: ASSESSING INDIVIDUAL RISKS BY MODELLING
13 Natural Catastrophe Loss Modelling
Mahmoud Khater and Dennis E. Kuzak, EQECAT
14 Quantifying Insurance Terrorism Risk.
Gordon Woo, RMS
15 Weather Risk Modelling for Improved Weather Risk Management
Mark Gibbas and S. Ming Lee, AIR
16 The ART of Dependence Modelling: The Latest Advances in Correlation Analysis
Peter Blum, Alexandra Dias and Paul Embrechts, Swiss Federal Institute of Technology
17 Economic Modelling: The Residual Valuation and Lease Income Streams of Aircraft Fleets.
Derrell Hendrix and Neil Hohmann, RisConsulting
PART IV: INDUSTRY-SPECIFIC PRACTICES AND SOLUTIONS
18 Industry-specific Practices and Solutions: Credit Solutions Provided by Insurance Companies
Uwe E. Remy and Daniel Grieger, Swiss Re
19 Securitisation of Life Insurance Businesses
Michael Millette, Shiv Kumar ,Omar J Chaudhary, Goldman Sachs and Company
Jacqueline M. Keating and Steven I. Schreiber, Milliman USA
20 The Origin of Contingent Liabilities.
Stephen Hough, BAE Systems
21 Private Equity Capital Guarantee Structures.
Gabriele Zeindler, Swiss Re
22 Applying Insurance Techniques and Structures to Manage Merger Risk.
David Govrin and Andrew Kaiser, Goldman Sachs
23 The Role of Hedge Funds as Asset Managers in Pension, Life and Annuity Portfolios, and Property-Casualty Reinsurance Covers.
David K. A. Mordecai, Clinton Group Inc
PART V: PORTFOLIO CONSIDERATIONS
24 The Cost of Risk and Cost of Capital in Capital-Budgeting and Risk Transfer Decisions.
Neil Doherty, University of Pennsylvania
25 Correlation in Risk Portfolio Management.
Bill Riker, Renaissance Re
26 Integrated Simulation Techniques.
Michael Steel, Benfield Group
27 Improving Portfolio Performance with Catastrophe Bonds.
John Kiernan&David Heike, Lehman Brothers
28 Amending Lloyds Risk-based Capital Model for Financial Guarantee and Credit Insurance
Peter Allen, Derek Bain, Tony Jones and Samit Shah, Ernst and Young
PART VI: OTHER PERSPECTIVES
29 Accounting Issues in Finite Reinsurance and Alternative Risk Transfer Products.
Mike Brosnan, Ernst and Young
30 Legal Risks Mitigating Document Risk - Some Hard Lessons Learned.
Clive O’Connell, Barlow, Lyde&Gilbert
31 Alternative Risk Strategies - Regulation.
Nigel Davies, Financial Services Authority
32 Alternative Risk Transfer and Financial Stability.
David Rule, Bank of England
Afterword - Whither securitisation?
Morton Lane, Lane Financial LLC
NB - This table of contents is provisional until final publication of the book. Small changes to chapter titles and order may occur.
“In terms of sheer scope and expertise of the contributors, Alternative Risk Strategies sets a standard... a welcome addition to the professional library of any financially sophisticated risk manager.“
Mark A. Hoffman, Business Insurance magazine