The paper deals with maritime risk, which we consider important, no doubt, for ship-owners acting in volatile markets …. Traditionally, risk is measured by "standard deviation". Other risk measures like "excess kurtosis", "excess skewness", "long …-term dependence" and the "catastrophe propensity" were ignored. Risk in 1900 was based on the mathematical laws of Chance and …

We introduce a class of quantile-based risk measures that generalize Value at Risk (VaR) and, likewise Expected … probability of occurrence. The corresponding risk measure, called Loss VaR (LVaR), determines the minimal capital injection that … and applications to capital adequacy, portfolio risk management and catastrophic risk are presented …

“Climate change adaptation”, “building resilience” and “vulnerability and risk reduction” are noble words, but do we … questions. The world has recently experienced disasters of a magnitude rarely seen before: the cascading disaster in Japan, the …- and non-climate-related, sudden-onset and creeping hazards will most likely increase the risk of crises and disasters in …

/Snow, Landslide, Tornado, and Wildfire. We empirically estimate the tail risk of multi-hazard portfolios for the limiting cases of …The severity of extreme weather events is increasing due to climate change, giving rise to physical climate risk …. However, physical climate risk is not only driven by the severity of individual hazards, but also by the interdependence of …

We examine the connection between tail risk — as measured in Kelly and Jiang (2014) — and the cross-section of expected … risk appears to forecast discount rates — and not cash flows — which seems inconsistent with crash-based explanations of … the importance of tail risk. We also compare the time series of tail risk to measures of aggregate uncertainty, a measure …