MOMENTAN AUSVERKAUFT
Über dieses Produkt
Product Identifiers
PublisherOxford University Press, Incorporated
ISBN-100198783779
ISBN-139780198783770
eBay Product ID (ePID)234858051
Product Key Features
Number of Pages256 Pages
LanguageEnglish
Publication NameMaking a Market for Acts of God : the Practice of Risk Trading in the Global Reinsurance Industry
Publication Year2017
SubjectGeneral, Insurance / General
TypeTextbook
AuthorRebecca Bednarek, Paul Spee, Paula Jarzabkowski
Subject AreaBusiness & Economics
FormatTrade Paperback
Dimensions
Item Height0.5 in
Item Weight14 Oz
Item Length9.2 in
Item Width6.1 in
Additional Product Features
Intended AudienceScholarly & Professional
LCCN2014-953339
Dewey Edition23
IllustratedYes
Dewey Decimal368/.0122
Table Of Content1. Reinsurance: A Market for Acts of God2. United We Stand, Divided We Fall: Bearing Risk Collectively3. Transforming Disasters into Tradable Deals4. Calculation at the Frontier: Evaluation in the Absence of Models5. One Firm's Trash is Another's Treasure: Competing in a Consensus Market6. Unraveling the Nest: From a Market for Acts of God to a Market for Commodities7. Addressing "Big Questions": Advancing a Practice Theory of the Market
SynopsisReinsurance is a financial market that trades in the risk of unpredictable and devastating disasters - such as Hurricane Katrina, the Tohoku earthquake and tsunami, and the terrorist attacks on the World Trade Centre. Such disasters are increasing in both frequency and severity, with the cost of their losses mounting rapidly. Reinsurance insures insurance companies, enabling them to pay claims arising from these losses. It is thus a market mechanism that is a critical part of the social and economic safety net, helping to pick up the pieces after disasters. Yet, how is the risk of such disasters calculated and traded in a global market? This book brings to life the reinsurance market through vivid real-life tales that draw from an ethnographic, "fly-on-the-wall" study of the global reinsurance industry over three annual cycles. The authors shadowed underwriters around the world as they traded risks through multiple disasters. For instance, this book takes readers into the desperate hours of pricing Japanese risks during March 2011, while the devastating aftermath of the Tohoku earthquake is unfolding. To show how the market works, the book offers authentic tales gathered from observations of reinsurers in Bermuda, Lloyd's of London, Continental Europe and SE Asia as they evaluate, price and compete for different risks as part of their everyday practice. Understanding how this market for disasters works has never been more critical given the impact of climate change and increased global connectivity, where a flood in one country can trigger losses to supply chains around the world. The authors develop a novel concept of how global markets work, which advances scholarship and challenges current thinking about how financial markets trade in intangible assets such as risk. This book will be useful to readers interested in markets for disasters, insurance, reinsurance and financial markets, and academics interested in the practice of financial markets specifically or the practice of strategy and organizations generally., Reinsurance is a market that provides cover for the devastating consequences of unpredictable events such as Hurricane Katrina, or the Tohoku earthquake, underpinning society's capacity to rebuild after the unthinkable happens. This book fleshes out how this important and quirky financial market works.
LC Classification NumberHG8083
