Alternative Risk Strategies

Publication Date	April 2002
Publisher	Risk Books
Product Type	Book
Pages	684
ISBN Number	1899332634
Product Code	RIS00295

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Summary

Provides an innovative and detailed insight on a variety of issues to include an overview of the reinsurance industry, contingent financing, terrorism risk, captives, finite risk, loss portfolio transfers, catastrophe risk, modelling issues and risk swaps
Multi-author contributions from leading industry experts and academics on the key issues surrounding this area
Includes an up-to-date discussion of the effects of September 11th on the insurance and reinsurance markets.
Chronicles the market changes from traditional methods of insurance through industry developments, research and current practice

Content

Contents
Authors
Introduction
- Morton Lane, Lane Financial, LLC
Part I : Product Types for Transferring, Financing, Transforming and Retaining Risk.
- 1 Reinsurance vs Other Risk-transfer Instruments - the Reinsurer's Perspective.
  - Kenneth J. Bock and Manfred W. Seitz, Munich Re
- 2 Managing Risk using Index-linked Catastrophic Loss securities
  - J.David Cummins, David LaLonde and Richard D. Phillips, Wharton, AIR and GSU
- 3 Catastrophe Bonds.
  - David Mocklow, John DeCaro and Matthew McKenna, Cochran-Coronia
- 4 Industry Loss Warrantees.
  - Enda McDonnell, Access Re
- 5 Risk Swaps.
  - Yuichi Takeda, The Tokio Marine and Fire Insurance Company Co. Ltd
- 6 Contingent Capital and the Art of Corporate Finance
  - Christopher L. Culp, University of Chicago
- 7 Contingent Covers.
  - Bryon Ehrhart, Aon
- 8 Finite Risk Insurance and Reinsurance.
  - Oscar Tymon, Centre Solutions
- 9 Captives
  - Paul Whrmann and Christoph Brer, Zurich Financial Services
Part Ii : The Price of Risk and Its Volatility.
- 10 Catastrophe Risk Pricing in the Traditional Market .
  - John A. Major and Rodney E. Kreps, Guy Carpenter
- 11 Pricing of Catastrophe Bonds.
  - Shaun Wang, SCOR
- 12 Implications of Market Shocks: Capacity, Price Volatility and the Value of Transparency.
  - Joan Lamm-Tennant, General Cologne Re
Part Iii: Assessing Individual Risks by Modelling
- 13 Natural Catastrophe Loss Modelling
  - Mahmoud Khater and Dennis E. Kuzak, EQECAT
- 14 Quantifying Insurance Terrorism Risk.
  - Gordon Woo, RMS
- 15 Weather Risk Modelling for Improved Weather Risk Management
  - Mark Gibbas and S. Ming Lee, AIR
- 16 The ART of Dependence Modelling: The Latest Advances in Correlation Analysis
  - Peter Blum, Alexandra Dias and Paul Embrechts, Swiss Federal Institute of Technology
- 17 Economic Modelling: The Residual Valuation and Lease Income Streams of Aircraft Fleets.
  - Derrell Hendrix and Neil Hohmann, RisConsulting
Part Iv: Industry-Specific Practices and Solutions
- 18 Industry-specific Practices and Solutions: Credit Solutions Provided by Insurance Companies
  - Uwe E. Remy and Daniel Grieger, Swiss Re
- 19 Securitisation of Life Insurance Businesses
  - Michael Millette, Shiv Kumar ,Omar J Chaudhary, Goldman Sachs and Company
  - Jacqueline M. Keating and Steven I. Schreiber, Milliman USA
- 20 The Origin of Contingent Liabilities.
  - Stephen Hough, BAE Systems
- 21 Private Equity Capital Guarantee Structures.
  - Gabriele Zeindler, Swiss Re
- 22 Applying Insurance Techniques and Structures to Manage Merger Risk.
  - David Govrin and Andrew Kaiser, Goldman Sachs
- 23 The Role of Hedge Funds as Asset Managers in Pension, Life and Annuity Portfolios, and Property-Casualty Reinsurance Covers.
  - David K. A. Mordecai, Clinton Group Inc
Part V: Portfolio Considerations
- 24 The Cost of Risk and Cost of Capital in Capital-Budgeting and Risk Transfer Decisions.
  - Neil Doherty, University of Pennsylvania
- 25 Correlation in Risk Portfolio Management.
  - Bill Riker, Renaissance Re
- 26 Integrated Simulation Techniques.
  - Michael Steel, Benfield Group
- 27 Improving Portfolio Performance with Catastrophe Bonds.
  - John Kiernan & David Heike, Lehman Brothers
- 28 Amending Lloyds Risk-based Capital Model for Financial Guarantee and Credit Insurance
  - Peter Allen, Derek Bain, Tony Jones and Samit Shah, Ernst and Young
Part Vi: Other Perspectives
- 29 Accounting Issues in Finite Reinsurance and Alternative Risk Transfer Products.
  - Mike Brosnan, Ernst and Young
- 30 Legal Risks Mitigating Document Risk - Some Hard Lessons Learned.
  - Clive O'Connell, Barlow, Lyde & Gilbert
- 31 Alternative Risk Strategies - Regulation.
  - Nigel Davies, Financial Services Authority
- 32 Alternative Risk Transfer and Financial Stability.
  - David Rule, Bank of England
Afterword - Whither securitisation?
- Morton Lane, Lane Financial LLC
Bibliography
- NB - This table of contents is provisional until final publication of the book. Small changes to chapter titles and order may occur.