Managing risk in reinsurance : from city fires to global warning / edited by Niels Viggo Haueter and Geoffrey Jones.

Format:

Book

Contributor:

Haueter, Niels Viggo, editor.

Language:

English

Subjects (All):

Reinsurance.

Physical Description:

xiv, 361 pages ; 26 cm

Edition:

First edition.

Place of Publication:

Oxford ; New York, NY : Oxford University Press, 2017.

Summary:

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 nineteenth century until today. As such, it gives a detailed account of how the nature of risk itself has 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, and from 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 challenge 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 twelve contributing authors. Book jacket.

Contents:

1 Risk and Reinsurance / Niels Viggo Haueter Haueter, Niels Viggo, Geoffrey Jones Jones, Geoffrey 1

2 The Cultural Context of Insurance in the West / Geoffrey Clark Clark, Geoffrey 47

3 The Evolution of the Industry Structure / Robin Pearson Pearson, Robin 70

4 The Monetary and Financial Environment, 1860-2013 / Forrest Capie Capie, Forrest 92

5 Calculating the Unpredictable: History of Actuarial Theories and Practices in Reinsurance / Hans Buhlmann Buhlmann, Hans, Martin Lengwiler Lengwiler, Martin 118

6 The Rise and Decline of Treaty Reinsurance: Changing Roles of Reinsurers as Financial Service Providers / Alexandros-Andreas Kyrtsis Kyrtsis, Alexandros-Andreas 144

7 From Gentlemen's Agreement to Judicial Instrument: The History of Contract Practice and Conflict Resolution in Reinsurance / Tilmann J. Röder Röder, Tilmann J. 182

8 Reinsurance Law as an Autonomous Regulatory Regime? Resistance to Codification and Avoidance of State Jurisdiction in the Twentieth Century / Miloš Vec Vec, Miloš 206

9 What is an Insurable Risk? Swiss Re and Atomic Reactor Insurance / Lorraine Daston Daston, Lorraine 230

10 Natural Catastrophes and their Effects on Reinsurance / Wele Werner Werner, Wele 248

11 Continuity and Change in Reinsurance 1990-2016 / Roman Lechner Lechner, Roman, Niels Viggo Haueter Haueter, Niels Viggo, Lawrence Kenny Kenny, Lawrence 277.

ISBN:

0198754914

9780198754916

OCLC:

964303181