At the General Assembly of the Geneva Association held 28-31 May 2008 in Hamilton, Bermuda, the CEOs of the world's leading insurance and reinsurance companies decided to launch a new research project on climate change and its economic impact on insurance (CC+I). This initiative reflects one of...

Insurers and banks are both suppliers of financial services and constitute together thebulk of the financial services industry. As such, they share certain common traits and,consequently, are often analyzed together. At the same time, they differ markedly in certainrespects, insurance and...

Three propositions: Insurance Companies can be systemic importance; Insurance companies should be subject to tougher regulation and supervision; Risks should be assessed on a group-wise basis...

Strict liabilities prevails at major accidents. According to the Polluter Pays Principle,l it is the liable party who pays for any damage. The accidents may be very large, however, compared to the assets of the liable plant owner. The liable party may, therefore, simply go bankrupt and leave the...