Managing Unknown Risks: The Future of Global Reinsurance
8 Pages Posted: 9 Apr 2009
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: 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
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