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CONTENTS OF THE OCTOBER 2001 ISSUE
Vol.69(3)
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CATASTROPHIC RISKS ![]() ARTICLES GÉNÉRAUX LE JOUR DE L’INFAMIE
LA GESTION DES RISQUES DE CATASTROPHE –
ARTICLES ÉVALUÉS MANAGING CATASTROPHIC RISK: LESSONS FROM CANADA
LES ASSUREURS FRANÇAIS ONT-ILS INTÉRÊT
À UTILISER
Chroniques FAITS D'ACTUALITÉ
CHRONIQUE DES CHAIRES
CHRONIQUE ACTUARIELLE
NOUVELLES DU BAC
CHRONIQUE DE DOCUMENTATION
LE JOUR DE L’INFAMIE
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 –
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
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?
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. |
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Last updated: 01-10-18
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