Insurance and pensions

OECD Conference on Catastrophic Risks and Insurance

 

Paris, 22-23 November 2004

Large-scale disasters, whether natural or man-made - and particularly those caused by terrorists - are increasingly frequent and costly. This conference addressed how to handle the losses caused by such disasters, bringing together representatives from the insurance industry, governments and academia from both OECD countries and emerging economies. Discussions focused on three key issues:

  • Are catastrophic risks still insurable?
  • To what extent can financial markets help address the risks both of natural disasters and terrorism?
  • What should be the role of governments in the covering catastrophe risks?

The reports and notes circulated during this conference are published in Policy Issues In Insurance N°8: Catastrophic Risks and Insurance.

 

Documentation

 

Session 1 - Insurability of catastrophic risks

  • Economics of catastrophe risk insurance, Christian Gollier (University of Toulouse) - this report was circulated by e-mail to Speakers of Session 1 and distributed in the meeting room. Powerpoint presentation
  • Insurability of terrorism risk : challenges and perspectives, Howard Kunreuther and Erwann Michel-Kerjan (Wharton School, University of Pennsylvania) - this report was circulated by e-mail to Speakers of Session 1 and distributed in the meeting room. Powerpoint presentation
  • The case of industrial and technological accidents, Christian Lahnstein (Munich Re) - this report was circulated by e-mail to Speakers of Session 1 and distributed in the meeting room.
  • Recent trends in the catastrophe risk insurance/reinsurance market, Patrick Murphy O'Connor (Benfield) Powerpoint presentation
  • Role of the reinsurance industry in the management of weather related risks, Peter Zimmerli (Swiss Re) Powerpoint presentation
  • Issues and options in the management of terrorism risk through insurance, Robert Reville (Rand Corporation) Powerpoint presentation
  • Current state of the coverage for war and terrorism risks - including NBC - in the aviation sector, Eugene Hoeven (IATA)
  • Free market solutions for terrorism risks coverage, Ben Garston (MAP Underwriting and Lloyd's Terrorism Panel) Powerpoint presentation
  • Improving insurability and affordability : the role of insurance in hazard identification, risk assessment, risk prevention and mitigation for industrial/chemical accidents, Satyananda Mishra, IAS, Disaster Management Institute, Bhopal - Government of Madhya Pradesh, India)

Session 2: Financial market solutions to manage catastrophic risks

  • International financing solutions to catastrophic risk exposures, Torben Juul Andersen (Copenhagen Business School) - this report was circulated by e-mail to Speakers of Session 2 and distributed in the meeting room. Powerpoint presentation
  • The use of risk linked securities to manage catastrophic risks, including terrorism, Christian Mumenthaler (Swiss Re) - this report was circulated by e-mail to Speakers of Session 2 and was distributed in the meeting room. Powerpoint presentation
  • Current challenges in terrorism risk securitization, Gordon Woo (RMS) - this paper was circulated by e-mail to Speakers of Session 2 and distributed in the meeting room. Powerpoint presentation
  • Financing catastrophic risks in non-OECD countries : challenges and perspectives, Reinhard Mechler (IIASA) - this report was circulated by e-mail to Speakers of Session 2 and distributed in the meeting room. Powerpoint presentation
  • Current market trends for catastrophe bonds and risk kinked securities, Christopher McGhee (MMC Securities, Guy Carpenter) Powerpoint presentation
  • The potential for new risk transfer instruments to cover terrorism risks, Michele David (The Bond Market Association) Powerpoint presentation
  • Rating agency’s perspective on catastrophe bonds and risk linked securities, Rodrigo Araya (Moody’s) Powerpoint presentation

Session 3:  Role of governments and development of public-private partnerships for catastrophe risk management

  • Role of governments in natural catastrophe risk management and financing in OECD countries, Paul K. Freeman (University of Denver) - this report was circulated by e-mail to Speakers of Session 3 and distributed in the meeting room. Powerpoint presentation
  • Catastrophe insurance programs in emerging countries: field experience, Eugene Gurenko (World Bank, Financial Sector Operations and Policy Department) - this report was circulated by e-mail to Speakers of Session 3 and distributed in the meeting room. Powerpoint presentation
  • Potential role for governments in terrorism coverage, Dwight Jaffee (Haas School of Business, UC Berkeley) - this report was circulated by e-mail to Speakers of Session 3 and distributed in the meeting room. Powerpoint presentation
  • Public-private partnerships to cover terrorism risks in OECD countries, John Cooke (International Economic Relations Consultant, London) - this report was circulated by e-mail to Speakers of Session 3 and distributed in the meeting room. Powerpoint presentation
  • Role of the US government in the prevention and mitigation of terrorism risks, Robert Liscouski (Infrastructure Protection Office, Department of Homeland Security, USA)
  • Disaster risk management policy in Japan, Kazuhiro Kawachimaru (NIPPONKOA Insurance Company Ltd) Powerpoint presentation
  • The Spanish experience in the management of extraordinary risks, including terrorism, Ignacio Machetti (Consorcio de Compensación de Seguros) Powerpoint presentation
  • A stakeholder approach for developing a public-private partnership : the Hungarian case, Reinhard Mechler (IIASA) Powerpoint presentation
  • Disaster risk management policy in China, Yuanchang Zheng and Jianguo Mu (Department of Disaster and Social Relief, Ministry of Civil Affairs) 
  • The French experience in natural catastrophe risk management, Suzanne Vallet (Caisse Centrale de Réassurance) Powerpoint presentation
  • Earthquake risk management policy in Indonesia, Werner Bugl (PT Asuransi, MAIPARK Indonesia) 
  • Disaster risk management policy in Mexico, Carlos Bayo Martinez (FONDEN) Powerpoint presentation
  • Disaster risk management policy in the Philippines, Ronald I. Flores (Department of National Defense, Office of Civil Defense, National Disasters Coordinating Council) 
  • Management of extraordinary risks, including terrorism, in India: achievements and perspectives, D. Madan (Under Secretary, National Disaster Management Division, Ministry of Home Affairs, Government of India) Powerpoint presentation
  • C. S. Rao (Indian Insurance Regulatory and Development Authority) 

 

 

 

 

 

 

 

Countries list

  • Afghanistan
  • Albania
  • Algeria
  • Andorra
  • Angola
  • Anguilla
  • Antigua and Barbuda
  • Argentina
  • Armenia
  • Aruba
  • Australia
  • Austria
  • Azerbaijan
  • Bahamas
  • Bahrain
  • Bangladesh
  • Barbados
  • Belarus
  • Belgium
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bolivia
  • Bosnia and Herzegovina
  • Botswana
  • Brazil
  • Brunei Darussalam
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Cayman Islands
  • Central African Republic
  • Chad
  • Chile
  • China (People’s Republic of)
  • Chinese Taipei
  • Colombia
  • Comoros
  • Congo
  • Cook Islands
  • Costa Rica
  • Croatia
  • Cuba
  • Cyprus
  • Czech Republic
  • Côte d'Ivoire
  • Democratic People's Republic of Korea
  • Democratic Republic of the Congo
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Eritrea
  • Estonia
  • Ethiopia
  • European Union
  • Faeroe Islands
  • Fiji
  • Finland
  • Former Yugoslav Republic of Macedonia (FYROM)
  • France
  • French Guiana
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guatemala
  • Guernsey
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Honduras
  • Hong Kong, China
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iraq
  • Ireland
  • Islamic Republic of Iran
  • Isle of Man
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jersey
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Korea
  • Kuwait
  • Kyrgyzstan
  • Lao People's Democratic Republic
  • Latvia
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Macao (China)
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Mauritania
  • Mauritius
  • Mayotte
  • Mexico
  • Micronesia (Federated States of)
  • Moldova
  • Monaco
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • Netherlands Antilles
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • Norway
  • Oman
  • Pakistan
  • Palau
  • Palestinian Administered Areas
  • Panama
  • Papua New Guinea
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Qatar
  • Romania
  • Russian Federation
  • Rwanda
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome and Principe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Serbia and Montenegro (pre-June 2006)
  • Seychelles
  • Sierra Leone
  • Singapore
  • Slovak Republic
  • Slovenia
  • Solomon Islands
  • Somalia
  • South Africa
  • South Sudan
  • Spain
  • Sri Lanka
  • Sudan
  • Suriname
  • Swaziland
  • Sweden
  • Switzerland
  • Syrian Arab Republic
  • Tajikistan
  • Tanzania
  • Thailand
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • United States
  • United States Virgin Islands
  • Uruguay
  • Uzbekistan
  • Vanuatu
  • Venezuela
  • Vietnam
  • Virgin Islands (UK)
  • Wallis and Futuna Islands
  • Western Sahara
  • Yemen
  • Zambia
  • Zimbabwe