Insurance and Expanding Systemic Risks

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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


Our recommendations will be brief. We have ended every chapter with a summary of the main results. It thus does not make any sense to repeat these summaries, which can be found at the end of each chapter. We will now simply recapitulate the most important points and formulate them as recommendations to the social actors addressed in this study – enterprises, insurers and governments. The central question for this study was how these social actors could protect themselves against expanding systemic risks. Obviously, the reader should remain aware of the limits of this study (and hence of the recommendations), since we mainly focused on the role of law and even then chiefly on the function of liability law and insurance. Also, the reader should be aware that these recommendations are set out very briefly without all the nuances and explanations. He or she should also be aware of the fact that they are formulated in a rather unbalanced manner, and should be complemented by reading the full text in the various chapters...

English Also available in: French

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