{"product_id":"catastrophic-risk-analysis-and-management-hardback-9780470012369","title":"Catastrophic Risk; Analysis and Management (Hardback) 9780470012369","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eCatastrophic Risk\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eAnalysis and Management\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eErik Banks (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470012369, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 18 March 2005\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e192 pages\u003cbr\u003e24.8 x 17.7 x 1.9 cm, 0.482 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"...useful to have at hand...Risk, of whatever nature, remains something that needs to be addressed at all times.\" (Accounting Technician, August 2005)  \u003cp\u003e“It is a beautifully clear book…enlightening… one which turns a complex and potentially off-putting subject into a remarkably interesting one.” (\u003ci\u003eStrategic Risk\u003c\/i\u003e, June 2007)\u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eCatastrophic risk is one of the most significant and challenging areas of corporate risk management. Analyze this risk for your company with \u003cb\u003eCatastrophic Risk\u003c\/b\u003e and make sure you have sufficient resources to absorb losses and avoid financial distress.  \u003cp\u003eThe first comprehensive volume to address this topic from a financial perspective, this book is a guide to the worst financial risks threatening companies and industries today. Author Eric Banks begins with a consideration of ?catastrophe? and its mplications, looks at the state of actuarial and financial modelling of catastrophe risks, and discusses the creation of a risk management framework that will enable the efficient and secure management of exposure. \u003cb\u003eCatastrophic Risk\u003c\/b\u003e is essential reading if you're a corporate treasurer, CFO, or insurance\/financial risk manager responsible for corporate risk management. Order your copy today.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eAcknowledgments ix\u003c\/p\u003e \u003cp\u003eAbout the author xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART I IDENTIFICATION AND ANALYSIS OF CATASTROPHIC RISK 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Catastrophe and Risk 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Introduction 3\u003c\/p\u003e \u003cp\u003e1.2 The nature of catastrophe 5\u003c\/p\u003e \u003cp\u003e1.2.1 A definition 5\u003c\/p\u003e \u003cp\u003e1.2.2 Frequency 5\u003c\/p\u003e \u003cp\u003e1.2.3 Vulnerability 8\u003c\/p\u003e \u003cp\u003e1.2.4 Measuring severity 11\u003c\/p\u003e \u003cp\u003e1.3 The scope of impact 11\u003c\/p\u003e \u003cp\u003e1.4 Catastrophe and the risk management framework 13\u003c\/p\u003e \u003cp\u003e1.5 Overview of the book 15\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Risk Identification I: Perils 17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Natural catastrophe 18\u003c\/p\u003e \u003cp\u003e2.1.1 Geophysical 19\u003c\/p\u003e \u003cp\u003e2.1.2 Meteorological\/atmospheric 22\u003c\/p\u003e \u003cp\u003e2.1.3 Other natural disasters 26\u003c\/p\u003e \u003cp\u003e2.2 Man-made catastrophe 29\u003c\/p\u003e \u003cp\u003e2.2.1 Terrorism 29\u003c\/p\u003e \u003cp\u003e2.2.2 Industrial contamination 31\u003c\/p\u003e \u003cp\u003e2.2.3 Technological failure 32\u003c\/p\u003e \u003cp\u003e2.2.4 Financial dislocation 33\u003c\/p\u003e \u003cp\u003e2.3 Mega-catastrophe and clash loss 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Risk Identification II: Regional Vulnerability 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Spatial impact of natural catastrophes 36\u003c\/p\u003e \u003cp\u003e3.1.1 Bermuda and the North American Atlantic Coast 36\u003c\/p\u003e \u003cp\u003e3.1.2 Florida 36\u003c\/p\u003e \u003cp\u003e3.1.3 North American West Coast 37\u003c\/p\u003e \u003cp\u003e3.1.4 US Great Plains\/Midwest 38\u003c\/p\u003e \u003cp\u003e3.1.5 Caribbean 39\u003c\/p\u003e \u003cp\u003e3.1.6 Mexico 39\u003c\/p\u003e \u003cp\u003e3.1.7 Japan 40\u003c\/p\u003e \u003cp\u003e3.1.8 South Asia\/Southeast Asia 41\u003c\/p\u003e \u003cp\u003e3.1.9 Middle East\/Near East 43\u003c\/p\u003e \u003cp\u003e3.1.10 Europe 43\u003c\/p\u003e \u003cp\u003e3.2 Spatial impact of man-made catastrophes 44\u003c\/p\u003e \u003cp\u003e3.2.1 North America 46\u003c\/p\u003e \u003cp\u003e3.2.2 Europe 47\u003c\/p\u003e \u003cp\u003e3.2.3 Asia\/Pacific 47\u003c\/p\u003e \u003cp\u003e3.3 Urban vulnerabilities 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Modeling Catastrophic Risk 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 The development and use of models 49\u003c\/p\u003e \u003cp\u003e4.2 The goals of catastrophe modeling 50\u003c\/p\u003e \u003cp\u003e4.3 General model construction 51\u003c\/p\u003e \u003cp\u003e4.3.1 Phase one: Hazard\/peril assessment 52\u003c\/p\u003e \u003cp\u003e4.3.2 Phase two: Vulnerability assessment 55\u003c\/p\u003e \u003cp\u003e4.3.3 Phase three: Contract assessment 59\u003c\/p\u003e \u003cp\u003e4.3.4 A general example 60\u003c\/p\u003e \u003cp\u003e4.3.5 Other perils 63\u003c\/p\u003e \u003cp\u003e4.4 Challenges 64\u003c\/p\u003e \u003cp\u003e4.4.1 Model characteristics and assumptions 65\u003c\/p\u003e \u003cp\u003e4.4.2 Model validation 66\u003c\/p\u003e \u003cp\u003e4.4.3 Tail risks 67\u003c\/p\u003e \u003cp\u003e4.4.4 Data quality and granularity 67\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART II MANAGEMENT OF CATASTROPHIC RISK 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Catastrophe and the Risk Management Framework 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Active risk management 71\u003c\/p\u003e \u003cp\u003e5.1.1 Enterprise value, liquidity, and solvency 72\u003c\/p\u003e \u003cp\u003e5.1.2 Loss control, loss financing, and risk reduction 74\u003c\/p\u003e \u003cp\u003e5.2 Risk monitoring 81\u003c\/p\u003e \u003cp\u003e5.3 Private and public sector efforts 82\u003c\/p\u003e \u003cp\u003e5.4 Sources of capital 83\u003c\/p\u003e \u003cp\u003e5.4.1 Insurers\/reinsurers 83\u003c\/p\u003e \u003cp\u003e5.4.2 Investment funds 84\u003c\/p\u003e \u003cp\u003e5.4.3 Financial institutions 85\u003c\/p\u003e \u003cp\u003e5.5 Toward active risk management 85\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Catastrophe Insurance and Reinsurance 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Insurable risk and insurance 87\u003c\/p\u003e \u003cp\u003e6.1.1 Full insurance 88\u003c\/p\u003e \u003cp\u003e6.1.2 Partial insurance 88\u003c\/p\u003e \u003cp\u003e6.1.3 Captives 89\u003c\/p\u003e \u003cp\u003e6.2 Catastrophe insurance 89\u003c\/p\u003e \u003cp\u003e6.3 Reinsurance 92\u003c\/p\u003e \u003cp\u003e6.3.1 Facultative and treaty reinsurance 92\u003c\/p\u003e \u003cp\u003e6.3.2 Proportional and excess of loss agreements 93\u003c\/p\u003e \u003cp\u003e6.4 Catastrophe reinsurance 95\u003c\/p\u003e \u003cp\u003e6.5 Market cycles 98\u003c\/p\u003e \u003cp\u003e6.6 Internal risk management 101\u003c\/p\u003e \u003cp\u003e6.7 Challenges 103\u003c\/p\u003e \u003cp\u003e6.7.1 Pricing difficulties 103\u003c\/p\u003e \u003cp\u003e6.7.2 Earnings and capital volatility 104\u003c\/p\u003e \u003cp\u003e6.7.3 Concentrations 106\u003c\/p\u003e \u003cp\u003e6.7.4 Limits to insurability\/uninsurable risks 106\u003c\/p\u003e \u003cp\u003e6.7.5 Lack of insurance\/reinsurance penetration 107\u003c\/p\u003e \u003cp\u003e6.7.6 Capacity constraints 107\u003c\/p\u003e \u003cp\u003e6.7.7 Contagion effects and systemic concerns 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Catastrophe Bonds and Contingent Capital 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Overview of securitization 111\u003c\/p\u003e \u003cp\u003e7.2 Catastrophe bonds 112\u003c\/p\u003e \u003cp\u003e7.2.1 Standard structures 112\u003c\/p\u003e \u003cp\u003e7.2.2 Innovations 120\u003c\/p\u003e \u003cp\u003e7.2.3 Market focus and direction 123\u003c\/p\u003e \u003cp\u003e7.3 Contingent capital 124\u003c\/p\u003e \u003cp\u003e7.3.1 Standard structures 125\u003c\/p\u003e \u003cp\u003e7.3.2 Contingent debt 126\u003c\/p\u003e \u003cp\u003e7.3.3 Contingent equity 128\u003c\/p\u003e \u003cp\u003e7.4 Challenges 131\u003c\/p\u003e \u003cp\u003e7.4.1 Structural flaws 132\u003c\/p\u003e \u003cp\u003e7.4.2 Regulatory differences 132\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Catastrophe Derivatives 135\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Overview of derivatives 135\u003c\/p\u003e \u003cp\u003e8.1.1 Exchange-traded derivatives 136\u003c\/p\u003e \u003cp\u003e8.1.2 OTC derivatives 137\u003c\/p\u003e \u003cp\u003e8.2 Exchange-traded catastrophe derivatives 139\u003c\/p\u003e \u003cp\u003e8.3 OTC Catastrophe derivatives 140\u003c\/p\u003e \u003cp\u003e8.3.1 Catastrophe reinsurance swaps 140\u003c\/p\u003e \u003cp\u003e8.3.2 Pure catastrophe swaps 142\u003c\/p\u003e \u003cp\u003e8.3.3 Synthetic OTC structures 142\u003c\/p\u003e \u003cp\u003e8.4 Challenges 144\u003c\/p\u003e \u003cp\u003e8.4.1 Index construction and basis risks 144\u003c\/p\u003e \u003cp\u003e8.4.2 Lack of contract transparency 144\u003c\/p\u003e \u003cp\u003e8.4.3 One-way markets 145\u003c\/p\u003e \u003cp\u003e8.4.4 Pricing difficulties 145\u003c\/p\u003e \u003cp\u003e8.4.5 Regulatory barriers 145\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Public Sector Management and Financing 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Forms of public sector involvement 147\u003c\/p\u003e \u003cp\u003e9.1.1 Ex ante loss control measures 147\u003c\/p\u003e \u003cp\u003e9.1.2 Insurance\/reinsurance 148\u003c\/p\u003e \u003cp\u003e9.1.3 Ex post crisis management 156\u003c\/p\u003e \u003cp\u003e9.1.4 Financing and subsidies 157\u003c\/p\u003e \u003cp\u003e9.1.5 Financial regulation 158\u003c\/p\u003e \u003cp\u003e9.2 Challenges 159\u003c\/p\u003e \u003cp\u003e9.2.1 Voluntary versus mandatory measures 159\u003c\/p\u003e \u003cp\u003e9.2.2 Public and private sector responsibilities 160\u003c\/p\u003e \u003cp\u003e9.2.3 Lack of market access and capacity 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Outlook and Conclusions 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Loss control 163\u003c\/p\u003e \u003cp\u003e10.1.1 Loss control implementation 163\u003c\/p\u003e \u003cp\u003e10.1.2 Enforcing urban planning 163\u003c\/p\u003e \u003cp\u003e10.2 Quantification 164\u003c\/p\u003e \u003cp\u003e10.2.1 Modeling requirements 164\u003c\/p\u003e \u003cp\u003e10.2.2 Transparency 164\u003c\/p\u003e \u003cp\u003e10.2.3 Complexity of terrorism 165\u003c\/p\u003e \u003cp\u003e10.3 Loss financing 165\u003c\/p\u003e \u003cp\u003e10.3.1 Vulnerabilities and risk capacity 165\u003c\/p\u003e \u003cp\u003e10.3.2 Discriminatory funding and insurance 166\u003c\/p\u003e \u003cp\u003e10.4 Government participation 166\u003c\/p\u003e \u003cp\u003e10.4.1 Optimal government role 166\u003c\/p\u003e \u003cp\u003e10.4.2 Limited government resources 167\u003c\/p\u003e \u003cp\u003e10.4.3 Adverse incentives 167\u003c\/p\u003e \u003cp\u003e10.4.4 Market deregulation 168\u003c\/p\u003e \u003cp\u003e10.5 General management 168\u003c\/p\u003e \u003cp\u003e10.5.1 Sub-optimal management 168\u003c\/p\u003e \u003cp\u003e10.5.2 Sustainability of solutions 169\u003c\/p\u003e \u003cp\u003e10.5.3 Preparing for the mega-catastrophe 169\u003c\/p\u003e \u003cp\u003e10.5.4 Amalgamated solutions 169\u003c\/p\u003e \u003cp\u003e10.5.5 Learning from past events 170\u003c\/p\u003e \u003cp\u003eBibliography 171\u003c\/p\u003e \u003cp\u003eIndex 175\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52255224037656,"sku":"9780470012369","price":60.36,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470012369.jpg?v=1781273801","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/catastrophic-risk-analysis-and-management-hardback-9780470012369","provider":"Freshly Printed Books","version":"1.0","type":"link"}