Catastrophe Modeling: A New Approach to Managing Risk by Patricia Grossi, Howard Kunreuther

By Patricia Grossi, Howard Kunreuther

Based at the examine that has been performed at Wharton threat administration Center over the earlier 5 years on catastrophic risk.

Covers a sizzling subject within the mild of modern terroristic actions and nature catastrophes.

Develops possibility administration suggestions for decreasing and spreading the losses from destiny disasters.

Provides thesaurus of definitions and phrases used through the book.

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Additional resources for Catastrophe Modeling: A New Approach to Managing Risk (Huebner International Series on Risk, Insurance and Economic Security)

Sample text

Panjer, H. H. E. (1992). Insurance Risk Models. Illinois: Society of Actuaries. Steinbrugge, K. V. (1982). Earthquakes, Volcanoes, and Tsunamis: An Anatomy of Hazards. Skandia America Group: New York, New York. 42 Stone, J. (1973). “A theory of capacity and the insurance of catastrophe risks: Part I and Part II,” Journal of Risk and Insurance, 40: 231-243 (Part I) and 40: 339-355 (Part II). W. L (1993). Seismicity of the United States, 1568-1989. S. C. USWRC (1967). S. C. PART II NATURAL HAZARD RISK ASSESSMENT Part II of this book discusses the inner workings of catastrophe models and how they assess risk from natural hazards.

For example, those suffering uninsured losses after Agnes were eligible to receive $5,000 forgiveness grants and 30-year loans at 1% interest. In recent years, the SBA has not been as generous; disaster loans in 2003 were offered at interest rates just slightly below the existing market rate. State Level At the state level, an office of emergency services or a department of public safety promotes natural disaster preparedness. Additionally, seismic safety commissions have been established by earthquake-prone states to prioritize earthquake research and public policy needs.

An important part of the bill’s implementation will be the further incorporation of loss estimation tools. Funding for these propositions is not infinite and ideally should be allocated to targets where it will provide the most quantifiable benefit. DOGAMI will be involved in assessing the loss of life and property in communities most at risk and prioritizing these projects to optimize reduction of these losses (Beaulieu, 2001). 18 In January of 2003, Congress reauthorized the NFIP through the 2003 fiscal year.

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