Managing Unknown Risks: The Future of Global Reinsurance

8 Pages Posted: 9 Apr 2009

See all articles by Geoffrey M. Heal

Geoffrey M. Heal

Columbia University - Columbia Business School, Finance; National Bureau of Economic Research (NBER)

Graciela Chichilnisky

Columbia University

Date Written: 1998

Abstract

It has been said that insurance is the last of the financial services to accept radical change (Denney [1995-1996]). Yet there has been a fundamental shift in the geographic location and in the organization of the reinsurance industry in the last six years (Chichilnisky [1996b]). Global environmental risks are partly responsible For this change; increased weather volatility and catastrophic risks are difficult to diversify using traditional insurance practices.

Suggested Citation

Heal, Geoffrey M. and Chichilnisky, Graciela, Managing Unknown Risks: The Future of Global Reinsurance (1998). Available at SSRN: https://ssrn.com/abstract=1375656 or http://dx.doi.org/10.2139/ssrn.1375656

Geoffrey M. Heal

Columbia University - Columbia Business School, Finance ( email )

3022 Broadway
New York, NY 10027
United States
212-854-6459 (Phone)
212-316-9219 (Fax)

HOME PAGE: http://www.gsb.columbia.edu/faculty/gheal/

National Bureau of Economic Research (NBER)

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Cambridge, MA 02138
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Graciela Chichilnisky (Contact Author)

Columbia University ( email )

3022 Broadway
New York, NY 10027
United States
212 678 1148 (Phone)
212 678 0405 (Fax)

HOME PAGE: http://www.chilchilnisky.com

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