Risk Modeling for Hazards and Disasters (eBook, ePUB)

Redaktion: Michel, Gero

• Format: ePub

Produktbeschreibung

Risk Modeling for Hazards and Disasters covers all major aspects of catastrophe risk modeling, from hazards through to financial analysis. It explores relevant new science in risk modeling, indirect losses, assessment of impact and consequences to insurance losses, and current changes in risk modeling practice, along with case studies. It also provides further insight into the shortcomings of current models and examines model risk and ideas to diversify risk assessment.



Risk Modeling for Hazards and Disasters instructs readers on how to assess, price and then hedge the losses from natural and manmade catastrophes. This book reviews current model development and science and explains recent changes in the catastrophe modeling space, including new initiatives covering uncertainty and big data in the assessment of risk for insurance pricing and portfolio management. Edited by a leading expert in both hazards and risk, this book is authored by a global panel including major modeling vendors, modeling consulting firms, and well-known catastrophe modeling scientists. Risk Modeling for Hazards and Disasters provides important insight into how models are used to price and manage risk.

• Includes high profile case studies such as the Newcastle earthquake, Hurricane Andrew and Hurricane Katrina
• Provides crucial information on new ideas and platforms that will help address the new demands for risk management and catastrophe risk reporting
• Presents the theory and practice needed to know how models are created and what is and what is not important in the modeling process
• Covers relevant new science in risk modeling, indirect losses, assessment of impact and consequences to insurance losses, and current changes in risk modeling practice, along with case studies

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Produktdetails

• Verlag: Elsevier Science & Techn.
• Seitenzahl: 338
• Erscheinungstermin: 29. August 2017
• Englisch
• ISBN-13: 9780128040935
• Artikelnr.: 49253012

Inhaltsangabe

SECTION I: Catastrophe Models, General Concepts and Methods 1. Quantifying
Model Uncertainty and Risk Nilesh Shome, Mohsen Rahnama, Steve Jewson, and
Paul Wilson 2. What Makes a Catastrophe Model Robust Jay Guin 3. Towards a
more Dynamical Paradigm for Natural Catastrophe Risk Modelling David
Stephenson, Alasdair Hunter, Ben Youngman, and Ian Cook 4. Empirical
fragility and vulnerability assessment: not just a regression Tiziana
Rossett and Ioanna Ioannou
SECTION II: Model Creation, Specific Perils and Data 5. The use of historic
loss data for insurance and total loss modelling James Daniell, Friedemann
Wenzel, and Andreas Schaefer 6. Indirect Loss Potential Index for Natural
disasters for National and sub-national analysis James Daniell, Bijan
Khazai, Friedemann Wenzel 7. Probability gain from seismicity-based
earthquake models Kristy Tiampo, Robert Shcherbakov, and Paul Kovacs 8. Big
data challenges and hazards modelling Kristy Tiampo, Seth McGinnis, Yelena
Kropivnitskaya, Jinhui Qin, and Michael Bauer 9. Progress towards
hyper-resolution models of global flood hazard Paul Bates, Jeff Neal, Chris
Sampson, Andy Smith, and Mark Trigg
SECTION III: Model Insurance Use-Cases 10. Insurance Pricing and Portfolio
Management using Catastrophe Models Helena Bickley and Gero Michel 11.
Portfolio Optimization Using Catastrophe Model Results, a Use Case from the
Insurance Industry Augustin Yiptong and Gero Michel
SECTION IV:  Model Risk, Resilience and New Concepts 12. Parsimonious risk
assessment and the role of transparent diverse models Patrick McSharry  13.
Creating a Probabilistic Catastrophe Model with the Characteristic Event
Methodology Karen Clark  14. From Risk Management to Quantitative Disaster
Resilience: A New Paradigm for Catastrophe Modelling Slobodan Simonovic 15.
Beyond 'model risk': a practice perspective on modelling in insurance
Andreas Tsanakas  and Laure Cabantous