The resulting impact of disasters on society depends on the affected country's economic
strength prior to the disaster. The larger the disaster and the smaller the economy, the more …

As flood risks grow worldwide, a well‐designed insurance program engaging various
stakeholders becomes a vital instrument in flood risk management. The main challenge …

There are two main strategies in dealing with rare and dependent catastrophic risks: the use
of risk reduction measures (preparedness programs, land use regulations, etc.) and the use …

This paper describes a spatial-dynamic, stochastic optimization model that takes account
ofthe complexities and dependencies of catastrophicrisks. Following a description of the …

22.1 Introduction Losses from human-made and natural catastrophes are rapidly increasing.
Within the last three decades the direct damages only from natural disasters have increased …

The main goal of this paper is to develop a flood management model that takes into account
the specifics of catastrophic risk management: highly mutually dependent losses, the lack of …

Catastrophes produce losses highly correlated in space and time, which break the law of
large numbers. We derive the insurability of dependent catastrophic risks by calculating …

Italy is a country exposed to a number of major natural hazards, but the regulatory
framework for risk management has not been yet fully established. As an example, a law for …

This paper deals with the development of decision making tools for managing catastrophic
(low probability-high consequences) risks. Catastrophes produce rare and highly correlated …

The article is devoted to finding the present value of catastrophe bonds using a combination
of Monte Carlo and Iterative Stochastic Equation methods. Apart from general methodology …