Compendium of Publications - The Geneva Association

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Compendium of Publications of The Geneva Association
Extreme events and insurance: 2011 annus horribilis, edited by Christophe Courbage
and Walter R. Stahel, Geneva Report No. 5, March 2012
2011 has been the most expensive year in recorded history both for
the national economies and the insurance sector, with an estimated
direct economic cost of US$380bn and original insured losses of
approximately US$105bn. It also showed an increasing severity
arising from natural catastrophes, with a series of extreme events
including the 11 March Japanese earthquake, the Australian and
Thai floods, the New Zealand earthquakes, and the U.S. tornadoes.
These extreme events entail huge consequences in terms of human
and economic losses but they also have important repercussions for
the insurance industry.
This report presents the insurance’ s role in managing extreme events
and the mechanisms that make these insurable, both by the public and
private sectors. In this context, it provides a detailed picture of the
main extreme events that occurred in 2011 and analyses their impact
on local insurance markets as well as the lessons learnt to efficiently
manage these risks.
September 11—Ten Years On- Lasting impact on the world of risk and insurance,
edited by Patrick M. Liedtke and Kai-Uwe Schanz, Geneva Report No. 4, September 2011
Ten years after the terrorist attacks of September 11, 2001 The Geneva
Association has initiated a comprehensive research effort focusing on
the lasting impact of an event which was the most expensive man-made
disaster for insurance ever and which in its immediate aftermath was
widely viewed as heralding a new era in global politics, economics
and business. This effort builds on The Geneva Association’s seminal
special monograph Insurance and September 11—One Year After:
Impact, Lessons and Unresolved Issues which, written and published
in 2002, has proven remarkably prescient in many respects.
With a collection of eight essays from leading industry economists,
underwriting specialists and Geneva Association researchers, The
Geneva Association intended to make a meaningful contribution to
establishing the event’s permanent relevance for the world of risk and
insurance. It also hoped to stimulate its readers to consider the longterm
development of the insurance industry and the various ways in
which it is intertwined with human lives and activities.
No. 4
September 2011
Anatomy of the credit crisis—An insurance reader from The Geneva Association,
edited by Patrick M. Liedtke, Geneva Report No. 3, January 2010
In this special Geneva Report, The Geneva Association has assembled a series of key articles written
during and on the subject of the credit crisis, compiling them into an insurance “Reader”. This Reader
provides an insight into the credit crisis from an insurance point of view, looks at its impact on the
insurance industry and finally examines the episode for lessons-learned and concerns that remain. The
majority of the articles were written during the crisis and have been published unchanged in order to
give a true insight into how thinking developed as the crisis unfolded.
With articles unchanged from the time of writing accompanied by a highly detailed timeline, the
Geneva Report No 3 provides a very real anatomy of the credit crisis, the lessons learned from it and
the implications it has for the insurance industry in future.
The Geneva Reports - September 11 — Ten Years On - Lasting impact on the world of risk and insurance No. 4 • September 2011
No. 5
March 2012
The Geneva Reports
Risk and Insurance Research
www.genevaassociation.org
Extreme events and insurance:
2011 annus horribilis
edited by Christophe Courbage and Walter R. Stahel
The Geneva Reports
Risk and Insurance Research
www.genevaassociation.org
September 11—Ten Years On
Lasting impact on the world of risk and insurance
edited by Patrick M. Liedtke and Kai-Uwe Schanz