Asia Sees Greater Impact from Catastrophes on Insurers in Past 15 Years
According to a Research and Markets in its newly released book "Asian Catastrophe Insurance", catastrophes have had a more devastating impact on insurers over the past 15 years than in the entire history of insurance. Despite its rapidly developing economies and cutting-edge technological base, catastrophes particularly blight the Asian continent. Natural hazards such as earthquakes, floods, tsunamis, typhoons and volcanoes affect the whole region, from the simplest to the most complex infrastructures, and both the new engines of growth and the largest Asian economies. Consequently Asia, especially China, India and Japan, constitutes a major growing market for catastrophe insurance.
The comprehensive book released by Research and Markets presents a range of perspectives on natural hazards risk and alternative risk transfer (ART) from academia (such as Beijing, Kyoto and Cambridge universities), government (including the World Bank and Secretary of Agriculture and Cooperation, Government of India) and industry leaders.
Risk management in Asia requires a solid understanding of the potential for catastrophic events, the vulnerability of the human, built and economic environments to these events, and the potential for reducing impacts through integrated and properly financed programs. The book focuses on some of the most significant natural hazards such as a tsunami, floods and the natural hazard likely to have the world's largest future financial impact, a Tokyo earthquake.
Research and Markets is a leading source for international market research and market data.
Published on March 20, 2008
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