Ebook414 pages3 hours
Acts of God and Man: Ruminations on Risk and Insurance
Rating: 0 out of 5 stars
()
About this ebook
Much has been written about the ups and downs of financial markets, from the lure of prosperity to the despair of crises. Yet a more fundamental and pernicious source of uncertainty exists in today's world: the traditional insurance” risks of earthquakes, storms, terrorist attacks, and other disasters. Insightfully exploring these "acts of God and man," Michael R. Powers guides readers through the methods available for identifying and measuring such risks, financing their consequences, and forecasting their future behavior within the limits of science.
A distinctive characteristic of earthquakes, hurricanes, bombings, and other insurance risks is that they impact the values of stocks, bonds, commodities, and other market-based financial products, while remaining largely unaffected by or aloof” from the behavior of markets. Quantifying such risks given limited data is difficult yet crucial for achieving the financing objectives of insurance. Powers begins with a discussion of how risk impacts our lives, health, and possessions and proceeds to introduce the statistical techniques necessary for analyzing these uncertainties. He then considers the experience of risk from the perspectives of both policyholders and insurance companies, and compares their respective responses.
The risks inherent in the private insurance industry lead naturally to a discussion of the government's role as both market regulator and potential "insurer of last resort." Following a thoughtful and balanced analysis of these issues, Powers concludes with an interdisciplinary investigation into the nature of uncertainty, incorporating ideas from physics, philosophy, and game theory to assess science's limitations in predicting the ramifications of risk.
A distinctive characteristic of earthquakes, hurricanes, bombings, and other insurance risks is that they impact the values of stocks, bonds, commodities, and other market-based financial products, while remaining largely unaffected by or aloof” from the behavior of markets. Quantifying such risks given limited data is difficult yet crucial for achieving the financing objectives of insurance. Powers begins with a discussion of how risk impacts our lives, health, and possessions and proceeds to introduce the statistical techniques necessary for analyzing these uncertainties. He then considers the experience of risk from the perspectives of both policyholders and insurance companies, and compares their respective responses.
The risks inherent in the private insurance industry lead naturally to a discussion of the government's role as both market regulator and potential "insurer of last resort." Following a thoughtful and balanced analysis of these issues, Powers concludes with an interdisciplinary investigation into the nature of uncertainty, incorporating ideas from physics, philosophy, and game theory to assess science's limitations in predicting the ramifications of risk.
Related to Acts of God and Man
Related ebooks
Corporate Debt Restructuring in Emerging Markets: A Practical Post-Pandemic Guide Rating: 0 out of 5 stars0 ratingsHistory of Big Risks Rating: 0 out of 5 stars0 ratingsP C Insurance A Complete Guide - 2020 Edition Rating: 0 out of 5 stars0 ratingsManaging Credit Risk in Corporate Bond Portfolios: A Practitioner's Guide Rating: 0 out of 5 stars0 ratingsStarting An Independent Insurance Agency Made Easy Rating: 0 out of 5 stars0 ratingsCDO: A Story About Selling Collateralized Debt Obligations Rating: 0 out of 5 stars0 ratingsHow Does My Asset Allocation Compare to Everyone Else? Rating: 0 out of 5 stars0 ratingsWealth by Homeownership by Rule of One Third Rating: 0 out of 5 stars0 ratingsQuantitative Methods in Derivatives Pricing: An Introduction to Computational Finance Rating: 2 out of 5 stars2/5Statistical Arbitrage: Algorithmic Trading Insights and Techniques Rating: 3 out of 5 stars3/5The ForeclosureS.com Guide to Advanced Investing Techniques You Won't Learn Anywhere Else Rating: 0 out of 5 stars0 ratingsHow to Balancing Financial Risks Rating: 0 out of 5 stars0 ratingsAsset allocation Strategic Second Edition Rating: 0 out of 5 stars0 ratingsActionable Profitability Analytics: Going Beyond The Visuals To Produce Meaningful Insights And Drive Profitable Behaviors Rating: 0 out of 5 stars0 ratingsThe Effect of Offshoring on the Information Technology Sector: Is It Really Affecting Us Rating: 0 out of 5 stars0 ratingsHands-On Value-at-Risk and Expected Shortfall: A Practical Primer Rating: 0 out of 5 stars0 ratingsDiary of a Very Bad Year: Interviews with an Anonymous Hedge Fund Manager Rating: 4 out of 5 stars4/5The Future of Finance: A New Model for Banking and Investment Rating: 0 out of 5 stars0 ratingsCode of Prometheus: Origins of Intelligence Rating: 5 out of 5 stars5/5Bond Portfolio Investing and Risk Management Rating: 0 out of 5 stars0 ratingsBeating the Coronavirus: The Uncommon Guide to the Future of Business in Challenging Times Rating: 5 out of 5 stars5/5Wall Street Potholes: Insights from Top Money Managers on Avoiding Dangerous Products Rating: 0 out of 5 stars0 ratingsQuantitative Finance: Back to Basic Principles Rating: 0 out of 5 stars0 ratingsStochastic Claims Reserving Methods in Insurance Rating: 3 out of 5 stars3/5The Process of Investing: Applied Financial Planning and Portfolio Management Rating: 0 out of 5 stars0 ratingsThe Game: How the World of Finance Really Works Rating: 5 out of 5 stars5/5Large Cap Tech Stocks To Buy After Coronavirus Rating: 0 out of 5 stars0 ratingsTips & Traps: Selling Your Business While Maximizing Your Wealth Rating: 0 out of 5 stars0 ratings
Finance & Money Management For You
Set for Life: An All-Out Approach to Early Financial Freedom Rating: 4 out of 5 stars4/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5The Great Reset: And the War for the World Rating: 4 out of 5 stars4/5The Psychology of Money: Timeless lessons on wealth, greed, and happiness Rating: 5 out of 5 stars5/5The Richest Man in Babylon Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Good to Great: Why Some Companies Make the Leap...And Others Don't Rating: 4 out of 5 stars4/5The 7 Habits of Highly Effective People: 15th Anniversary Infographics Edition Rating: 5 out of 5 stars5/5Just Keep Buying: Proven ways to save money and build your wealth Rating: 5 out of 5 stars5/5The Great Awakening: Defeating the Globalists and Launching the Next Great Renaissance Rating: 4 out of 5 stars4/5Principles: Life and Work Rating: 4 out of 5 stars4/5Financial Words You Should Know: Over 1,000 Essential Investment, Accounting, Real Estate, and Tax Words Rating: 4 out of 5 stars4/5Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple Rating: 5 out of 5 stars5/5Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators Rating: 5 out of 5 stars5/5The Tax and Legal Playbook: Game-Changing Solutions To Your Small Business Questions Rating: 3 out of 5 stars3/5The Total Money Makeover by Dave Ramsey: Summary and Analysis Rating: 4 out of 5 stars4/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors Rating: 4 out of 5 stars4/5Quiet Leadership: Six Steps to Transforming Performance at Work Rating: 4 out of 5 stars4/5The Freedom Shortcut: How Anyone Can Generate True Passive Income Online, Escape the 9-5, and Live Anywhere Rating: 5 out of 5 stars5/5You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market P Rating: 4 out of 5 stars4/5All Your Worth: The Ultimate Lifetime Money Plan Rating: 5 out of 5 stars5/5Wealthology: The Science of Smashing Money Blocks Rating: 3 out of 5 stars3/5How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition Rating: 5 out of 5 stars5/5
Reviews for Acts of God and Man
Rating: 0 out of 5 stars
0 ratings
0 ratings0 reviews
Book preview
Acts of God and Man - Michael Powers
yXNa book_preview_excerpt.html }˒ǒ寤HQ啑F1Z6@f H1 fdnlgGKqH 3*$"#ۮ,᷿b}߈ݮ+,Gym;y}>1n/EP[[T*93cԫwQX珩KCA]o&俶;袞=R,'rX6-{yF؍$xvOmz
vXE{#sO'&h]:ew
(n̴)iAD%@Ng0' %FAM1p#t5"W&\ҪTU$sQ@ߘ#N=-6`YsWXـ0 wBH?*N`Ș-}H9m\4p6cW
79bGA4Bqsŕ.%\7dz3>gVd S\fdw8N+Wo#
6QtWH/2! s"lrζlF}
\nOyO?AzIB{ö._|pH)jo6[tnQ388̮W];$IdH=dr@mP!ئWoB';Szh YS1 d6GF݈\CgxP
vԀ̤?TuZ85O{Zs /۫_Ģr{ \Y/?NO?h&2IĨ9hmSo^