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Governing Ignorance: Emerging catastrophic Risks-Industry Responses and Policy Frictions

Author

Listed:
  • Giuliano Castellano

    (CRG - Centre de recherche en gestion - X - École polytechnique - CNRS - Centre National de la Recherche Scientifique)

Abstract

The growing interconnections between people, markets and networks together within the development of new technologies have increased the frequency and impact of large-scale disasters around the globe. Many of these events, defined as emerging catastrophic (or systemic) risks, have no previous record. At the same time there is a strong probability that their frequency and impact will increase in the future. This paper takes a governance perspective by assuming that policy actions should be designed to cope with ignorance and large-scale losses, being the primary features characterising such emerging catastrophic risks.

Suggested Citation

  • Giuliano Castellano, 2010. "Governing Ignorance: Emerging catastrophic Risks-Industry Responses and Policy Frictions," Post-Print hal-00541418, HAL.
    • Handle: RePEc:hal:journl:hal-00541418
    DOI: 10.1057/gpp.2010.11
    as

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    Citations

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    Cited by:

    1. Nicos A. Scordis & Yoshihiko Suzawa & Astrid Zwick & Lucia Ruckner, 2014. "Principles for Sustainable Insurance: Risk Management and Value," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 17(2), pages 265-276, September.
    2. Payandeh Najafabadi, Amir T. & Bazaz, Ali Panahi, 2016. "An optimal co-reinsurance strategy," Insurance: Mathematics and Economics, Elsevier, vol. 69(C), pages 149-155.
    3. Vickie Bajtelsmit & Jennifer Coats & Paul Thistle, 2015. "The effect of ambiguity on risk management choices: An experimental study," Journal of Risk and Uncertainty, Springer, vol. 50(3), pages 249-280, June.
    4. Amanda Savitt, 2017. "Insurance as a tool for hazard risk management? An evaluation of the literature," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 86(2), pages 583-599, March.

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