Insurance and Expanding Systemic Risks

image of Insurance and Expanding Systemic Risks

This comprehensive study responds to the growing concerns of economic, financial, political and social actors regarding the ever increasing exposure to new expanding risks. These risks are particularly related to natural disaster/environment pollution, technology, health and terrorism. For insurers the difficulty is encountered in adequately appraising and covering the potential liability stemming from these risks. It also sketches out some policy recommendations for decision makers in governments and in the business community on how to limit, prevent and manage such risks. In this perspective it will constitute a unique reference work for the attention of both OECD countries and emerging economies.

English Also available in: French

Insurability of Systemic Risks

In this part of the study, we will try to focus on the key question, namely, whether emerging systemic risks are insurable. We will therefore address the theoretical conditions that have to be fulfilled to guarantee the insurability of a risk. It is therefore necessary briefly to show how insurance works. First, we will mainly focus on the functioning of liability insurance, although some generalities apply to other forms of insurance as well. Next, we will address other insurance techniques such as first-party and direct insurance...

English Also available in: French

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