ARTICLES GÉNÉRAUX

LE JOUR DE L’INFAMIE
par Rémi Moreau

LA GESTION DES RISQUES DE CATASTROPHE – 
PROBLÉMATIQUE DU RISQUE DE BASE
par Laurence Bastien

ARTICLES ÉVALUÉS

MANAGING CATASTROPHIC RISK: LESSONS FROM CANADA
by Paul Kovacs and Howard Kunreuther

LES ASSUREURS FRANÇAIS ONT-ILS INTÉRÊT À UTILISER 
LES POINTS DE PERMIS POUR TARIFER L’ASSURANCE 
AUTOMOBILE?
par Maki Dahchour

Chroniques

FAITS D'ACTUALITÉ
par Rémi Moreau

CHRONIQUE DES CHAIRES
par Rémi Moreau

CHRONIQUE ACTUARIELLE
par divers collaborateurs du Groupe-conseil AON

NOUVELLES DU BAC
par divers collaborateurs

CHRONIQUE DE DOCUMENTATION
par Rémi Moreau

THE INTERNET SURFER PAGE
 
FFSA
 
 
 
 
 
 
 
 
 
 

LE JOUR DE L’INFAMIE
par Rémi Moreau

This Journal stands with American people, many of them being friends and contributors, in the wake of September 11 devastating terrorist attack, propelling those planes, full of innocent victims, through the World Trade Center Twin Towers and the Pentagon.

The author reviews main facts behind such a tragic, incomprehensible event and he does not miss to analyse human, material and financial consequences of it and their impact on the insurance and reinsurance industry.

While the USA and the world community are preparing to strike back against terrorism, the challenge to our leaders and to all of us is to prove that no terrorist connection will be allowed to eradicate the foundations of democraty and freedom.
 
 
 
 
 
 
 
 
 
 
 

LA GESTION DES RISQUES DE CATASTROPHE –
PROBLÉMATIQUE DU RISQUE DE BASE
par Laurence Bastien

The issue of basis risk is an integral part of the recent development of financial instruments that transfer catastrophe insurance risk to capital markets, such as Cat bonds and catastrophe options. For the last decade, we have experienced a merger between the capital market and the insurance one, mainly because of the recent surge of big catastrophic events. Now we have to look at the development of a trigger index free of any hazard risk and who minimizes the basis risk that insurers incur when purchasing such assets. 
 
 
 
 
 
 
 
 
 
 
 
 
 

MANAGING CATASTROPHIC RISK: LESSONS FROM CANADA
by Paul Kovacs and Howard Kunreuther

Natural disasters are a serious threat to societies around the world. Death, injury and displacement affect hundreds of millions of people each year, while the frequency and severity of property damage is rising at an alarming rate. The UN’s International Decade for Natural Disaster Reduction is a recent effort to promote better management of catastrophic risk; nevertheless, losses remain unacceptably high. The authors believe that the knowledge exists to better manage catastrophic risk, and the Canadian experience demonstrates a new approach to build resiliency and reduce disaster losses.

Keywords: Natural disasters, material damage, risk management.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

LES ASSUREURS FRANÇAIS ONT-ILS INTÉRÊT À UTILISER LES POINTS DE PERMIS POUR TARIFER L’ASSURANCE AUTOMOBILE?
par Maki Dahchour

The driving license based on demerit points system is in use in almost all industrialized countries. This is the case in France since 1st July 1992. The purpose of this article is to present the French system and to verify whether convictions and offenses are significant factors to explain traffic accidents. The data comes from a survey called Parc Automobile conducted by Sofres in France. It contains the information about points lost by drivers in 1998 and before. The results from the regressions show that points lost in period (t-1) are significant for predicting accidents in period t. Furthermore, we show that the risk of being involved in an traffic accident in the current year is a raising function of the points lost in the previous year. These results show clearly that the informational content of the French demerit points system which is a direct measure of the driver’s convictions and offenses can be useful for road safety management and for assessing risks in automobile insurance. Consequently, they can be used for both risk classification and experience rating.

Keywords: Demerit points system, traffic convictions and offenses, risk of accident, automobile insurance, risk classification, bonus-malus, road safety.

JEL Classification: D80.