DOWNLOAD ~ Introduction to the SCOR-JRI Special Issue on New Forms of Risk Financing and Risk Engineering * by Journal of Risk and Insurance ~ Book PDF Kindle ePub Free

eBook details

Title: Introduction to the SCOR-JRI Special Issue on New Forms of Risk Financing and Risk Engineering
Author : Journal of Risk and Insurance
Release Date : January 01, 2009
Genre: Business & Personal Finance,Books,Industries & Professions,
Pages : * pages
Size : 71 KB

Description

The world's insurance markets face growing exposure to catastrophic risk as well as rising loss exposure from legal liability, marine, aircraft, and other risk exposures. In response, global reinsurers have raised significant amounts of new capital, and the financial markets have responded with the development of innovative alternative financing techniques. The special issue examines many relevant aspects of these dynamic changes in risk financing and risk engineering. The articles in the special issue fall into two primary categories. The first category of articles focuses on risk financing by insurers and reinsurers and the relative importance of various sources of new risk capital. This group of articles analyzes the financing of catastrophic risk and the relationship between reinsurance and capital market solutions. The discussion considers innovative sources of risk capital including industry loss warranties, multiperil and multitrigger contracts, sidecars, and risk-linked securities, such as catastrophe bonds, options, and swaps. Theoretical articles consider alternative securitization designs that may be able to expand the market for insurance-linked securities, and a comparative analysis is provided of alternative regulatory approaches to catastrophe risk finance in the United States and the European Union. The second category of articles in the special issue focuses on risk engineering and modeling, with particular emphasis on methodologies that can be utilized in solvency measurement and risk management. Articles in this category consider the theory and application of copulas as well as the impact of linear and nonlinear dependencies among risks. Also considered are optimal reinsurance strategies under regulatory constraints, the modeling of mortality risk and securitization with stochastic jumps, and the economic relationship between insurance premiums and financial markets. The remainder of this introduction provides a brief overview of the articles published in the special issue.