Catastrophe Risk and Reinsurance - Risk Books
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Catastrophe Risk and Reinsurance

Edited By Eugene N. Gurenko


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.

Publish date: 2 Feb 2004

Availability: In stock


Book description

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

Book details

Publish date
2 Feb 2004
155mm x 235mm

Editor biography

Eugene N. Gurenko

Dr. Eugene N. Gurenko is a Senior Insurance Specialist at the World Bank Insurance Practice. During his career at the World Bank Group, which he joined in 1998, he designed and managed the World Bank program of technical assistance and lending to the Turkish Catastrophe Insurance Pool, currently one of the largest earthquake insurers in the world. For his work on the Turkish Catastrophe Insurance Pool, Mr. Gurenko received President’s Excellence Award. Since then, Dr. Gurenko has been actively involved in developing catastrophe risk management solutions for the World Bank client countries. His latest assignments include the design and management of World Bank programs of technical assistance and lending in support of the catastrophe insurance programs in Turkey, Iran, Romania, India, Columbia and the Philippines. Dr. Gurenko holds a Ph.D. from Columbia University, a title of Chartered Property Casualty Underwriter (CPCU) and an associate degree in reinsurance (ARe).

Table of contents



Cesare Callari


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.


“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

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