Catastrophic Risk Analysis and Management [Hardcover]

The first comprehensive volume to address this topic from a financial perspective, this book is a guide to the worst financial risks threatening companies and industries today. Author Eric Banks begins with a consideration of ?catastrophe? and its mplications, looks at the state of actuarial and financial modelling of catastrophe risks, and discusses the creation of a risk management framework that will enable the efficient and secure management of exposure. Catastrophic Risk is essential reading if you're a corporate treasurer, CFO, or insurance/financial risk manager responsible for corporate risk management. Order your copy today.

Acknowledgments ix

About the author xi

PART I IDENTIFICATION AND ANALYSIS OF CATASTROPHIC RISK 1

1 Catastrophe and Risk 3

1.1 Introduction 3

1.2 The nature of catastrophe 5

1.2.1 A definition 5

1.2.2 Frequency 5

1.2.3 Vulnerability 8

1.2.4 Measuring severity 11

1.3 The scope of impact 11

1.4 Catastrophe and the risk management framework 13

1.5 Overview of the book 15

2 Risk Identification I: Perils 17

2.1 Natural catastrophe 18

2.1.1 Geophysical 19

2.1.2 Meteorological/atmospheric 22

2.1.3 Other natural disasters 26

2.2 Man-made catastrophe 29

2.2.1 Terrorism 29

2.2.2 Industrial contamination 31<lCª