Language:
English
Pages:
1 Online-Ressource (35 p.)
Titel der Quelle:
Financial Market Trends
Angaben zur Quelle:
Vol. 2004, no. 2, p. 91-121
Angaben zur Quelle:
volume:2004
Angaben zur Quelle:
year:2004
Angaben zur Quelle:
number:2
Angaben zur Quelle:
pages:91-121
Keywords:
Finance and Investment
Abstract:
In dealing with extreme economic exposures we normally distinguish between natural catastrophes and man-made disasters. Natural catastrophes refer to abrupt events caused by natural hazards, such as windstorm, flood, drought, earthquake, landslides, avalanches, wildfires, etc., that inflict significant economic and human devastation throughout a geographical region. Man-made disasters, in turn, can be categorised as unintended events, caused by accidents, failures, crashes, explosions, fire, etc., and willful events, often referred to as civil unrest and terrorist acts. Until recently, willful events and specifically terrorist acts constituted a relatively modest share of the total catastrophe losses but suddenly turned into a sizeable loss potential with the terrorist attack on the World Trade Center in 2001, ...
DOI:
10.1787/fmt-2004-5lmm3fnwsfd2
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