Managing Risk in Reinsurance: From City Fires to Global Warming

Edited by Niels Viggo Haueter and Geoffrey Jones

in OUP Catalogue from Oxford University Press

Abstract: 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. Contributors to this volume - Hans Buhlmann, Swiss Federal Institute of Technology Forrest Capie, Cass Business School, City University of London Geoffrey Clark, Potsdam State University of New York Lorraine Daston, Planck Institute for the History of Science, Berlin Niels Viggo Haueter, Swiss Reinsurance Company Ltd Geoffrey Jones, Harvard Business School Lawrence Kenny Alexandros-Andreas Kyrtsis, University of Athens Roman Lechner, Martin Lengwiler, University of Basel Robin Pearson, University of Hull Tilmann Roder, Max Planck Foundation for International Peace and the Rule of Law, Heidelberg Milos Vec, University of Vienna Welf Werner, Jacobs University, Bremen

Date: 2016
ISBN: 9780198754916
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