Managing financial risks due to natural catastrophes

Robert Kast (1, 2)

1 LAMETA - Laboratoire Montpelliérain d'Économie Théorique et Appliquée
2 IFP - Institut Français de Pondichéry

This paper was prepared for the First Journées d'Economie et Econométrie de l'Asssurance, in Rennes, October 22nd and 23rd, 2009. It's a melting pot of several papers that I have written with my co-authors, plus a very short summary of Graciella Chichilnisky enlightening results. But, before proposing partial answers to the problem of modelling catastrophes in such a way as to be able to propose how to manage them, I try and grasp what we mean by catastrophe and what are the main problems, in the introduction.

Mots clés: catastrophe; risk; hedging instruments; cat-bonds; ambiguity; long term

Domaines: Economies et finances

Robert Kast. Managing financial risks due to natural catastrophes. 2011. ⟨hal-00610241⟩