Abstract
The catastrophe risk management process has all the characteristics of a complex systems problem: multiple conflicting objectives and strategies, a diverse range of views on fairness, multiple stakeholders and interests, and many different policy variables. The purpose of research at IIASA is to develop and test an integrated systems approach that can potentially provide insights on the complex issues and trade-offs involved. The approach also includes development of tools. These are designed to take into account the complexities and spatial — temporal dependencies of catastrophic risks, and to investigate multiple policy options (i.e. interplay between investment in mitigation and risk-sharing measures). Case studies have been demonstrating how these tools can aid a decision process that involves the public and stakeholders from the very beginning.
Among others, the paper includes results obtained during the author’s visiting period from EC-JRC-ISIS, Ispra.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Amendola, A., Bayer-Linnerooth, J., Ermoliev, Y., Ermolieva, T. Y., Gitis V. & Koff, G. 2000. A Systems Approach to Modeling Catastrophic Risk and Insurability. Natural Hazards, 21:2/3, 381–393.
Amendola A, Ermoliev Y. & Ermolieva T.Y. 2000b. Earthquake Risk Management: A Case Study for an Italian Region. Web proceedings of the EuroConference on Global Change and Catastrophe Risk Management: Earthquakes Risks in Europe. http://www.iiasa.ac.at/Research/RMP/july2000/
Berz, G. A. 1997. Catastrophes and Climate Change: Risks and reactions from the Viewpoint of an Inter-national Reinsurer, Eclogae Geol. Helv. 90:375–379.
Cummins, J.D. & Doherty, N. 1996. Can insurers pay for the “Big One”? Measuring capacity of an Insurance market to respond to catastrophic losses. Wharton Risk Management and Decision Processes Center, University of Pennsylvania, W.P.
Dimitriu, P, Karakostas, Ch. & Lekidis V. 2000. The Athens (Greece) Earthquake of 7 September 1999: The Event, Its Effects and the Response Conf. on Global Change and Earthquakes Risks. http://www.iiasa.ac.at/Research/RMP/july2000
Erdik, M 2000. Report on 1999 Kocaelli and Duezce (Turkey) Earthquakes. Conf. on Global Change and Earthquakes Risks. http://www.iiasa.ac.at/Research/RMP/july2000/
Ermolieva, T. Y., Ermoliev Y., & Norkin V. 1997. On the role of advanced modeling in managing catastro-phic risks. in Drottz-Sjöberg, B.-M. (ed.), Proc. New Risk Frontiers: Conference for the 10th Anniver-sary of the Society for Risk Analysis-Europe, The Center for Risk Research, Stockholm, pp. 68–74.
Ermoliev, Y., Ermolieva T. Y., & Norkin V. 1997. Spatial Stochastic Model for Optimization Capacity of Insurance Networks under Dependent Catastrophic Risks: Numerical Experiments. IIASA, Interim Re-port, IR-97-028
Ermoliev, Y., Ermolieva, T., MacDonald, G., & Amendola A. 2000. A systems approach to catastrophe man-agement. European Journal of Operational Research 122:452–460
Freeman, P.K. 1999. Infrastructure, Natural Disasters, and Poverty. Proc. of the EuroConference on Global Change and Flood Risks in Europe. http://www.iiasa.ac.at/Research/RMP/june99/
Froot, K. A. & O’Connell, P. 1997. The Pricing of U.S. Catastrophe Reinsurance, Paper presented at the NBER conference on the Financing of Property/Casualty Risks, Palm Beach Fl., Nov. 21–23
Priest, G. 1996. The Government, the Market, and the Problem of Catastrophic Loss. Journal of Risk and Uncertainty 12:219–237.
Geitner, P. 1999. Experts: Turkey Quake Too Deadly. September, 2 Yahoo News: World Headlines, ttp://dailynews.yahoo.com/h/ap/19990902/wl/germany_quake_prevention_1.htm
Gilber, C. & Gouy C. 1998. Flood Management in France, in Rosenthal U. and Hart, P’t eds. Flood Response and Crisis Management in Western Europe: A Comparative Analysis. Springer. Berlin.
Jaffee, D. M. & Russell T. 1997. Catastrophe Insurance, Capital Markets, and Uninsurable Risks. The Jour-nal of Risk and Insurance. 64:205–230
Kunreuther, H. & Linnerooth-Bayer, J. 1999. The Financial Management of Catastrophic Flood Risks in Emerging Economy Countries, Paper Presented at Conference on Global Change and Catastrophic Risk Management, IIASA, Laxenburg, Austria, June 6–9
Linnerooth-Bayer, J & Quijano, S. 2000. Loss Sharing: A Study of Recent Major Earthquakes and Floods. Conf. on Global Change and Earthquakes Risks. http://www.iiasa.ac.at/Research/RMP/july2000/
Nunez, I. L. 2000. Compound Growth or Compound Seismic Risk of Destruction? Some Vulnerability Les-sons from the Izmit, Turkey, Earthquake of 17 August 1999. Conf. on Global Change and Earthquakes Risks. http://www.iiasa.ac.at/Research/RMP/july2000/
Pasterick, E. T. 199). The National Flood Insurance Program, Paying the Price: The Status and Role of In-surance Against Natural Disasters in the United States, In Kunreuther, H. & Roth, R. eds., Joseph Henry Press: Washington, D.C., pp: 125–155
Petrini V. et al. 1995. Pericolosita’ sismica e prime valutazioni di rischio in Toscana. CNR/IRRS. Milano.
Polish Statistical Bureau 1998. Approximate Effects of the Flood of 1997, Government Review, Warsaw.
Swiss Re, 1997. Too Little Reinsurance of Natural Disasters in many Markets. Sigma No. 7, Swiss Reinsur-ance Co., Zurich.
Freeman, P.K. 1999. Infrastructure, Natural Disasters, and Poverty. Proc. of the EuroConference on Global Change and Flood Risks in Europe. ttp://www.iiasa.ac.at/Research/RMP/june99/
Intergovernmental Panel on Climate Change, IPPC (2001). Impacts, adaptation, and vulnerability. Contribution of Working Group II to the Third Assessment Report (pp.1032–1090). Cambridge, Cambridge University Press.
Kunreuther, H. 2001. Incentives for mitigation investment and more effective risk management: the need for public-private partnership. In B. De Marchi ed. Risk and Governance, special issue of the Journal of Hazardous Materials. Vol.86, Issues 1–3: Pages 171–185.
Kurneuther, H. 2001b. Mitigation and Financial Risk Management for Natural Hazards. Proceedings of First Annual IIASA-DPRI Meeting on Integrated Disaster Risk Management: Reducing Socio-Economic Vulnerability. http://www.iiasa.ac.at/Research/RMS/dpri2001/Papers/
Linnerooth-Bayer, J. & Amendola, A. 2000. Global Change, Catastrophic Risk and Loss Spreading. The GENEVA PAPERS on Risk and Insurance. 25:2, 203–219.
Mitchell, J. K. & Ericksen, N. J. 1997. Effects of Climate Change on Weather-Related Disasters, in. Minitzer I. M (ed.), Confronting Climate Change: Risks, Implications and Responses, Springer: Berlin.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2005 Springer
About this chapter
Cite this chapter
Amendola, A., Ermoliev, Y., Ermolieva, T. (2005). Catastrophe Risk Management. In: Gheorghe, A.V. (eds) Integrated Risk and Vulnerability Management Assisted by Decision Support Systems. Topics in Safety, Risk, Reliability and Quality, vol 8. Springer, Dordrecht. https://doi.org/10.1007/1-4020-3721-X_5
Download citation
DOI: https://doi.org/10.1007/1-4020-3721-X_5
Publisher Name: Springer, Dordrecht
Print ISBN: 978-1-4020-3451-0
Online ISBN: 978-1-4020-3721-4
eBook Packages: EngineeringEngineering (R0)