If catastrophe seems to be, for many authors, the matrix of modern times, it is relatively absent from managerial concerns. The approach of catastrophic risk management seems to suffer from a rigid dominant definition of risk and oscillate in a movement between omission and overstatement. This...

Catastrophic risks differ in terms of their natural or human origins, their possible amplification by human behaviors, and the relationships between those who create the risks and those who suffer the losses. Given their disparate anatomies, catastrophic risks generally require tailored...

Testing whether risk professionals (here insurers) behave differently under risk and ambiguity when they cover catastrophic risks (floods and earthquakes) and non-catastrophic risks (fires), this paper reports the results of the first field experiment in the United States designed to distinguish...

This paper describes the interdependencies of science and risk finance for catastrophe insurance. While the basic arguments here apply to all catastrophe risks, including seismic and terrorism risks, I will focus on risks associated with climate change. This traditional logic of actuarial...

Using a unique dataset of insurance decisions by over 1,800 large U.S. corporations, this study provides the first empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism). We combine demand and supply data and apply a...

The article discusses particular forms of reinsurance treaties that are used within activities of insurance companies. Each of the treaties in question offers different possibilities of protecting an insurance company's portfolio by providing different ways of the risk transfer. Reinsurance is...

It is reasonable to expect that catastrophe insurance system will be established in China in the near future, since it is one of the main topics in the Fourth National Finance Working Conference, and it is the first three working points of China Insurance Regulation Commission (CIRC) this year....