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 …

from natural hazards. Increasing investments in disaster risk reduction have led to a significant reduction in human … and poor countries. The analysis suggests indeed that economic growth leads to better defenses but also more risk taking …, making average disaster losses grow with income. In the future, larger resources and better defenses are likely to make …