The division helps businesses transfer traditionally
uninsurable risks to a third-party balance sheet.
We are seeking similar opportunities to create value for our customers, and in some cases, for previously
uninsurable risks.
Nuclear power is a case in point having a raft of hidden subsidies, one of them being its
uninsurable risks.
Senior management must consider a more comprehensive risk management program to address a wide variety of insurable and
uninsurable risks.
More than two-thirds of risk managers surveyed say their companies now expect them to assist not only with insurable risks in the supply chain but also with assessing and addressing
uninsurable risks.
In this sense, the infinite-horizon setting, while convenient, may understate the hardship caused by
uninsurable risks.
Under their simple model, they show that traditional theory holds only when the insurable and
uninsurable risks are statistically independent.
We all know that there are three categories of insurable risks: insurable, difficult to insure (such as flood and, perhaps, Y2K) and
uninsurable risks that do not fit the historic criteria for insurance, such as no snow, temperature fluctuations, swings in currency rates and, particularly, the stock market.
Any uninsured or
uninsurable risks should be quantified and appropriate reserves or other financing arrangements should be established.
Inform the bank's board of directors of all uninsured or
uninsurable risks and the ways in which the risks exceed current company coverage.
The topics covered are (1) insurance and economics, (2) insurance and utility theory, (3) insurance and competitive equilibrum, (4) life insurance, (5) business insurance, (6) household insurance, (7)
uninsurable risks, and (8) risk theory and government supervision.
The change is being fought by both the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America, whose members protest that it would amount to requiring insurance of
uninsurable risks.