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Managing Risk in Reinsurance: From City Fires to Global Warming

Managing Risk in Reinsurance: From City Fires to Global Warming

Author: Niels Viggo Haueter; Geoffrey Jones
Publisher: Oxford University Press
ISBN: 9780198754916
Published In: November 2016
Format: Hardback
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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The business of reinsurance developed at the fringe of financial services and, for most of its existence, went largely unnoticed outside the expert community.

More recently, both public and professional sensitivity towards managing risks has increased and reinsurers have emerged as authorities on global threats such as climate change and natural catastrophes.

This is the first book to provide a comprehensive historical description of this industry. It traces the global development of reinsurance from the early 19th century until today. As such it gives a detailed account of how the nature of risk itself changed over the last 200 years.

It highlights all aspects relevant in shaping the industry from the development of risk, risk engineering and risk management, actuarial science, the financial and monetary environment, market conditions, impacts of politics, the effects of regulatory changes, to large risks and natural catastrophes.

A comprehensive introduction by the editors highlights the different challenges and approaches to managing risk from a reinsurance perspective such as mathematical, financial, legal, and contractual developments, as well as the changing business models adopted. All of these are dealt with in further detail by ten contributing authors.

1: Introduction: Risk and Reinsurance, Niels Viggo Haueter and Geoffrey Jones
2: The Cultural Context of Insurance in the West, Geoffrey Clark
3: The Evolution of the Industry Structure, Robin Pearson
4: The Monetary and Financial Environment, 1860-2013, Forrest Capie
5: Calculating the Unpredictable: History of Actuarial Theories and Practices in Reinsurance, Hans Bühlmann and Martin Lengwiler
6: The Rise and Decline of Treaty Reinsurance: Changing roles of Reinsurers as Financial Service Providers, Alexandros-Andreas Kyrtsis
7: From Gentlemen's Agreement to Judicial Instrument: The History of Contract Practice and Conflict Resolution in Reinsurance, Tilmann Röder
8: Reinsurance Law as an Autonomous Regulation Regime? Resistance to Codification and Avoidance of the Courts in the Twentieth Century, Milos Vec
9: What is an Insurable Risk? Swiss Re and Atomic Reactor Insurance, Lorraine Daston
10: Natural Catastrophes and their Effects on Reinsurance, Welf Werner
11: Continuity and Change in Reinsurance 1990-2016, Roman Lechner, Lawrence Kenny, and Niels Viggo Haueter