Geneva Ass’n. Report: 2011 an ‘Annus Horribilis’ for Insurance Industry

The latest report from the Geneva Association , No. 5 in the current series — Extreme events and insurance: 2011 annus horribilis -, describes the global impact of the major 2011 natural catastrophes, and analyzes the role and mechanisms of insurance in managing climate risk and other extreme events. The report, compiled by leading insurance academics, economists and insurers, sets out in nine essays the importance of “risk adaptation and management measures in developing physical and economic resilience to natural catastrophes, including the important role of insurance in such mechanisms,” said the Association’s bulletin.