Managing Catastrophic Risk

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Quantifying and Controlling Catastrophic Risks

B. John Garrick
Quantifying and Controlling Catastrophic Risks Book PDF

Author : B. John Garrick
Publisher : Academic Press
Page : 376 pages
File Size : 41,8 Mb
Release : 2008-10-27
Category : Nature
ISBN : 0080923453

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Quantifying and Controlling Catastrophic Risks by B. John Garrick Pdf

The perception, assessment and management of risk are increasingly important core principles for determining the development of both policy and strategic responses to civil and environmental catastrophes. Whereas these principles were once confined to some areas of activity i.e. financial and insurance, they are now widely used in civil and environmental engineering. Comprehensive and readable, Civil and Environmental Risk: Mitigation and Control, provides readers with the mathematical tools and quantitative methods for determining the probability of a catastrophic event and mitigating and controlling the aftermath. With this book engineers develop the required skills for accurately assessing risk and formulating appropriate response strategies. The two part treatment starts with a clear and rigorous exposition of the quantitative risk assessment process, followed by self-contained chapters concerning applications. One of the first books to address both natural and human generated disasters, topics include events such as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents and terrorist attacks. Case studies appear at the end of the book allowing engineers to see how these principles are applied to scenarios such as a super hurricane or mega tsunamis, a reactor core melt down in a nuclear plant, a terrorist attack on the national electric grid, and an abrupt climate change brought about by a change in the ocean currents in the North Atlantic. Written by the current Chairman of the U.S. Nuclear Waste Technical Review Board, Environmental risk managers will find this reference a valuable and authoritative guide both in accurately calculating risk and its applications in their work. Key Features Mathematical tools for calculating and Controlling Catastrophic Risk Presents a systematic method for ranking the importance of societal threats Includes both Natural and Industrial Catastrophes Case studies cover such events as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents, and terrorist attacks.

Mastering Catastrophic Risk

Howard Kunreuther,Michael Useem
Mastering Catastrophic Risk Book PDF

Author : Howard Kunreuther,Michael Useem
Publisher : Oxford University Press
Page : 249 pages
File Size : 51,9 Mb
Release : 2018
Category : Business & Economics
ISBN : 9780190499402

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Mastering Catastrophic Risk by Howard Kunreuther,Michael Useem Pdf

Risk taking is inherent in competition and managing risk well is a mark of successful firms. Doing so is increasingly challenging given the pace of change, whether financial, technological, environmental, reputational, or political. Rethinking Catastrophic Risk draws on extensive interviewswith risk managers to provide real-world insights and a framework for smart thinking and planning for possible disruptions, adverse events, or crises that could seriously harm the normal business functions or operations of a firm.Corporate leaders face a series of ever-more-challenging decisions to avoid and respond to perils that can be caused by external forces or by harmful actions within the firm. The business world is growing ever riskier given rapid changes generated by increasing concentration of populations andassets, complex interdependencies of markets and supply-chains, pressures of short-term demands for results, and the pressures of transparency combined with the prominence of social media. Some shocks can be anticipated, but many others come as a surprise and create considerable stress on decisionmakers, often leading to even worse outcomes.As leading authorities on risk management, decision processes, and leadership, Howard Kunreuther, Erwann Michel-Kerjan, and Michael Useem draw on their extensive experience to enhance understanding of risk management and call for improving resilience to future shocks as an integral part of corporatestrategy. This book is chock-full of anecdotes based on extensive interviews with leaders from all sectors of the Fortune 500 and provides a framework for linking intuitive and deliberative thinking for managing low-probability, high-consequence events. It highlights the importance of institutionalarrangements and leadership capability and will benefit managers at all levels and especially executives and directors seeking to reposition their firms to better anticipate and manage adverse events.

Catastrophe Modeling

Patricia Grossi,Howard Kunreuther
Catastrophe Modeling Book PDF

Author : Patricia Grossi,Howard Kunreuther
Publisher : Springer Science & Business Media
Page : 252 pages
File Size : 52,9 Mb
Release : 2006-01-27
Category : Business & Economics
ISBN : 9780387231297

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Catastrophe Modeling by Patricia Grossi,Howard Kunreuther Pdf

Based on the research that has been conducted at Wharton Risk Management Center over the past five years on catastrophic risk. Covers a hot topic in the light of recent terroristic activities and nature catastrophes. Develops risk management strategies for reducing and spreading the losses from future disasters. Provides glossary of definitions and terms used throughout the book.

Natural Catastrophe Risk Management and Modelling

Kirsten Mitchell-Wallace,Matthew Jones,John Hillier,Matthew Foote
Natural Catastrophe Risk Management and Modelling Book PDF

Author : Kirsten Mitchell-Wallace,Matthew Jones,John Hillier,Matthew Foote
Publisher : John Wiley & Sons
Page : 536 pages
File Size : 45,6 Mb
Release : 2017-04-24
Category : Science
ISBN : 9781118906071

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Natural Catastrophe Risk Management and Modelling by Kirsten Mitchell-Wallace,Matthew Jones,John Hillier,Matthew Foote Pdf

This book covers both the practical and theoretical aspects of catastrophe modelling for insurance industry practitioners and public policymakers. Written by authors with both academic and industry experience it also functions as an excellent graduate-level text and overview of the field. Ours is a time of unprecedented levels of risk from both natural and anthropogenic sources. Fortunately, it is also an era of relatively inexpensive technologies for use in assessing those risks. The demand from both commercial and public interests—including (re)insurers, NGOs, global disaster management agencies, and local authorities—for sophisticated catastrophe risk assessment tools has never been greater, and contemporary catastrophe modelling satisfies that demand. Combining the latest research with detailed coverage of state-of-the-art catastrophe modelling techniques and technologies, this book delivers the knowledge needed to use, interpret, and build catastrophe models, and provides greater insight into catastrophe modelling’s enormous potential and possible limitations. The first book containing the detailed, practical knowledge needed to support practitioners as effective catastrophe risk modellers and managers Includes hazard, vulnerability and financial material to provide the only independent, comprehensive overview of the subject, accessible to students and practitioners alike Demonstrates the relevance of catastrophe models within a practical, decision-making framework and illustrates their many applications Includes contributions from many of the top names in the field, globally, from industry, academia, and government Natural Catastrophe Risk Management and Modelling: A Practitioner’s Guide is an important working resource for catastrophe modelling analysts and developers, actuaries, underwriters, and those working in compliance or regulatory functions related to catastrophe risk. It is also valuable for scientists and engineers seeking to gain greater insight into catastrophe risk management and its applications.

Catastrophic Risk

Richard L. Alfred
Catastrophic Risk Book PDF

Author : Richard L. Alfred
Publisher : CRC Press
Page : 267 pages
File Size : 43,8 Mb
Release : 2021-10-06
Category : Business & Economics
ISBN : 9781000434675

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Catastrophic Risk by Richard L. Alfred Pdf

Imagine that you are a corporate executive or small business owner in a midwestern city under water after weeks of extreme weather and drenching rainfall. Infrastructure has been damaged beyond repair, transportation arteries are closed, and your supply chain is broken. Families have been driven from homes, food and water are in short supply, and people are becoming unruly. Government agencies are not in a position to help. Declining revenue and partisan antipathy fueled by ideological differences have eroded confidence in government. The city is in total disrepair and unable to deliver desperately needed services. It is edging toward implosion and community leaders have turned to you for help. Catastrophe that would have been unthinkable in earlier times is a reality in a world coming out of pandemic and facing existential threats such as climate change, inequality and global conflict. Catastrophic Risk: Business Strategy for Managing Turbulence in a World at Risk challenges business to step up and assume a pivotal role with communities under stress due to prolonged exposure to risk. When powerful societal forces meet behavior that deters response to risk, the consequences of risk are exacerbated. The compounding effect of behavior on risk has opened an important role for business in mobilizing people and communities in times of crisis. It is a role that cannot be fulfilled, however, without purpose, strategy and plans sufficiently robust to overcome the threat of risk. To prosper in this environment, business will need to make a significant contribution to society as well as to deliver financial performance. For companies, this will mean involvement in community in ways that significantly depart from current practice. For leaders, it will mean new skills—contextual sensitivity, a greater understanding of behavioral dynamics, and enhanced capacity to relate to people on an emotive basis. This book is about the relationship between risk, societal forces and human behavior—a relationship informed by the sciences that is critically important for business. Its goal is two-fold: to bring catastrophic risk to the world of business and to further business engagement in service to the common good.

Global Catastrophic Risks

Nick Bostrom,Milan M. Cirkovic
Global Catastrophic Risks Book PDF

Author : Nick Bostrom,Milan M. Cirkovic
Publisher : Oxford University Press
Page : 577 pages
File Size : 49,6 Mb
Release : 2011-09-29
Category : Mathematics
ISBN : 9780199606504

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Global Catastrophic Risks by Nick Bostrom,Milan M. Cirkovic Pdf

A Global Catastrophic Risk is one that has the potential to inflict serious damage to human well-being on a global scale. This book focuses on such risks arising from natural catastrophes (Earth-based or beyond), nuclear war, terrorism, biological weapons, totalitarianism, advanced nanotechnology, artificial intelligence and social collapse.

Mastering Catastrophic Risk

Howard Kunreuther,Michael Useem
Mastering Catastrophic Risk Book PDF

Author : Howard Kunreuther,Michael Useem
Publisher : Oxford University Press
Page : 256 pages
File Size : 49,9 Mb
Release : 2018-05-01
Category : Business & Economics
ISBN : 9780190499426

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Mastering Catastrophic Risk by Howard Kunreuther,Michael Useem Pdf

A profound and insightful look at how company leaders prepare for and respond to shocks and crises that threaten their business. Successful firms strategically manage and are more accurate in their assessment of large-scale risks. Doing so is increasingly challenging given the pace of change, whether financial, technological, regulatory, or environmental. Mastering Catastrophic Risk provides real-world practical insights into how large companies are responding to this new reality and develops a framework for smarter thinking about events that can damage a business. As leading authorities on risk management, strategy, and company leadership, Howard Kunreuther and Michael Useem take us on a groundbreaking tour of firms' decision making process. They demonstrate how improving readiness for and resilience against future shocks is now an integral part of company strategy. Using the "DISRUPT" model they have developed, they highlight the seven primary Drivers of disruption: Interdependencies increase exposure; Short-term focus results in limited vision; Regulations require change and constrain opportunities; Urbanization increases the costs of disasters; Probabilities of disasters have increased; and Transparency has enhanced public awareness of problems and impacts on firms' reputations. Some disruptions can be anticipated, while others arrive without warning. Their onset stresses decision makers, impairs company operations, and may even put the enterprise at risk. The bottom-line: business leaders and their governing boards face ever more challenging disruptions and must be ever more on guard. If your company is hit tomorrow, will it bounce back, or drown?

Managing Catastrophic Risk

Howard Kunreuther,Geoffrey Heal
Managing Catastrophic Risk Book PDF

Author : Howard Kunreuther,Geoffrey Heal
Publisher : Unknown
Page : 20 pages
File Size : 40,8 Mb
Release : 2012
Category : Disasters
ISBN : OCLC:795699364

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Managing Catastrophic Risk by Howard Kunreuther,Geoffrey Heal Pdf

A principal reason that losses from catastrophic risks have been increasing over time is that more individuals and firms are locating in harm's way while not taking appropriate protective measures. Several behavioural biases lead decision-makers not to invest in adaptation measures until after it is too late. In an interdependent world with no intervention by the public sector, it may be economically rational for those at risk not to invest in protective measures. Risk management strategies that involve private-public partnerships that address these issues may help in reducing future catastrophic losses. These may include multi-year insurance contracts, well-enforced regulations, third-party inspections, and alternative risk transfer instruments such as catastrophe bonds -- National Bureau of Economic Research web site.

Catastrophe Risk and Reinsurance

Eugene N. Gurenko
Catastrophe Risk and Reinsurance Book PDF

Author : Eugene N. Gurenko
Publisher : World Bank Publications
Page : 366 pages
File Size : 45,5 Mb
Release : 2004
Category : Banks and Banking Reform
ISBN : 9781904339205

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Catastrophe Risk and Reinsurance by Eugene N. Gurenko Pdf

Including the latest invaluable insights into catastrophe reinsurance, this book provides you with a wealth of risk management expertise gained from many of the largest catastrophe risk transfer programmes worldwide.

Catastrophe Modeling

Patricia Grossi,Howard Kunreuther
Catastrophe Modeling Book PDF

Author : Patricia Grossi,Howard Kunreuther
Publisher : Springer
Page : 252 pages
File Size : 40,5 Mb
Release : 2004-12-17
Category : Business & Economics
ISBN : 0387230823

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Catastrophe Modeling by Patricia Grossi,Howard Kunreuther Pdf

Based on the research that has been conducted at Wharton Risk Management Center over the past five years on catastrophic risk. Covers a hot topic in the light of recent terroristic activities and nature catastrophes. Develops risk management strategies for reducing and spreading the losses from future disasters. Provides glossary of definitions and terms used throughout the book.

The Financing of Catastrophe Risk

Kenneth A. Froot
The Financing of Catastrophe Risk Book PDF

Author : Kenneth A. Froot
Publisher : University of Chicago Press
Page : 490 pages
File Size : 47,5 Mb
Release : 2007-12-01
Category : Business & Economics
ISBN : 9780226266251

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The Financing of Catastrophe Risk by Kenneth A. Froot Pdf

Is it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed $10 billion was unthinkable. With ever increasing property-casualty risks and unabated growth in hazard-prone areas, insurers and reinsurers now envision the possibility of disaster losses of $50 to $100 billion in the United States. Against this backdrop, the capitalization of the insurance and reinsurance industries has become a crucial concern. While it remains unlikely that a single event might entirely bankrupt these industries, a big catastrophe could place firms under severe stress, jeopardizing both policy holders and investors and causing profound ripple effects throughout the U.S. economy. The Financing of Catastrophe Risk assembles an impressive roster of experts from academia and industry to explore the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays offer tangible means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.

Natural Catastrophe Risk Management and Modelling

Kirsten Mitchell-Wallace,Matthew Jones,John Hillier,Matthew Foote
Natural Catastrophe Risk Management and Modelling Book PDF

Author : Kirsten Mitchell-Wallace,Matthew Jones,John Hillier,Matthew Foote
Publisher : John Wiley & Sons
Page : 550 pages
File Size : 54,5 Mb
Release : 2017-06-26
Category : Science
ISBN : 9781118906040

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Natural Catastrophe Risk Management and Modelling by Kirsten Mitchell-Wallace,Matthew Jones,John Hillier,Matthew Foote Pdf

This book covers both the practical and theoretical aspects of catastrophe modelling for insurance industry practitioners and public policymakers. Written by authors with both academic and industry experience it also functions as an excellent graduate-level text and overview of the field. Ours is a time of unprecedented levels of risk from both natural and anthropogenic sources. Fortunately, it is also an era of relatively inexpensive technologies for use in assessing those risks. The demand from both commercial and public interests—including (re)insurers, NGOs, global disaster management agencies, and local authorities—for sophisticated catastrophe risk assessment tools has never been greater, and contemporary catastrophe modelling satisfies that demand. Combining the latest research with detailed coverage of state-of-the-art catastrophe modelling techniques and technologies, this book delivers the knowledge needed to use, interpret, and build catastrophe models, and provides greater insight into catastrophe modelling’s enormous potential and possible limitations. The first book containing the detailed, practical knowledge needed to support practitioners as effective catastrophe risk modellers and managers Includes hazard, vulnerability and financial material to provide the only independent, comprehensive overview of the subject, accessible to students and practitioners alike Demonstrates the relevance of catastrophe models within a practical, decision-making framework and illustrates their many applications Includes contributions from many of the top names in the field, globally, from industry, academia, and government Natural Catastrophe Risk Management and Modelling: A Practitioner’s Guide is an important working resource for catastrophe modelling analysts and developers, actuaries, underwriters, and those working in compliance or regulatory functions related to catastrophe risk. It is also valuable for scientists and engineers seeking to gain greater insight into catastrophe risk management and its applications.

Catastrophe Modeling

Patricia Grossi,Howard Kunreuther
Catastrophe Modeling Book PDF

Author : Patricia Grossi,Howard Kunreuther
Publisher : Springer
Page : 0 pages
File Size : 47,6 Mb
Release : 2004-12-17
Category : Business & Economics
ISBN : 0387230823

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Catastrophe Modeling by Patricia Grossi,Howard Kunreuther Pdf

Based on the research that has been conducted at Wharton Risk Management Center over the past five years on catastrophic risk. Covers a hot topic in the light of recent terroristic activities and nature catastrophes. Develops risk management strategies for reducing and spreading the losses from future disasters. Provides glossary of definitions and terms used throughout the book.

Precautionary Risk Management

M. Jablonowski
Precautionary Risk Management Book PDF

Author : M. Jablonowski
Publisher : Springer
Page : 168 pages
File Size : 47,6 Mb
Release : 2006-07-28
Category : Business & Economics
ISBN : 9780230627659

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Precautionary Risk Management by M. Jablonowski Pdf

Dealing with high-stakes risk potentials is dependent on getting to grips with easy to understand, yet difficult to apply, criteria for decision. With a fresh, honest approach, this book shows why scientific assessments of catastrophic risk based on averages don't work, and sets the stage for making the tough choice between precaution and fatalism.

At War with the Weather

Howard C. Kunreuther,Erwann O. Michel-Kerjan
At War with the Weather Book PDF

Author : Howard C. Kunreuther,Erwann O. Michel-Kerjan
Publisher : MIT Press
Page : 439 pages
File Size : 48,9 Mb
Release : 2011-08-19
Category : Business & Economics
ISBN : 9780262291521

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At War with the Weather by Howard C. Kunreuther,Erwann O. Michel-Kerjan Pdf

Innovative, long-term strategies for reducing vulnerability to large-scale natural disasters and for providing financial support for disaster victims. The United States and other nations are facing large-scale risks at an accelerating rhythm. In 2005, three major hurricanes—Katrina, Rita, and Wilma—made landfall along the U.S. Gulf Coast within a six-week period. The damage caused by these storms led to insurance reimbursements and federal disaster relief of more than $180 billion—a record sum. Today we are more vulnerable to catastrophic losses because of the increasing concentration of population and activities in high-risk coastal regions of the country. The question is not whether but when, and how frequently, future catastrophes will strike and the extent of damages they will cause. Who should pay the costs associated with catastrophic losses suffered by homeowners in hazard-prone areas? In At War with the Weather, Howard Kunreuther and Erwann Michel-Kerjan with their colleagues deliver a groundbreaking analysis of how we currently mitigate, insure against, and finance recovery from natural disasters in the United States. They offer innovative, long-term solutions for reducing losses and providing financial support for disaster victims that define a coherent strategy to assure sustainable recovery from future large-scale disasters. The amount of data collected and analyzed and innovations proposed make this the most comprehensive book written on these critical issues in the past thirty years.