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
- ISBN
- 9781906348823
- Publish date
- 2 Feb 2004
- Format
- Softback
- Size
- 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
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.
Testimonials
“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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