Skip to content Skip to navigation
University of Warwick
  • Study
  • |
  • Research
  • |
  • Business
  • |
  • Alumni
  • |
  • News
  • |
  • About

University of Warwick
Publications service & WRAP

Highlight your research

  • WRAP
    • Home
    • Search WRAP
    • Browse by Warwick Author
    • Browse WRAP by Year
    • Browse WRAP by Subject
    • Browse WRAP by Department
    • Browse WRAP by Funder
    • Browse Theses by Department
  • Publications Service
    • Home
    • Search Publications Service
    • Browse by Warwick Author
    • Browse Publications service by Year
    • Browse Publications service by Subject
    • Browse Publications service by Department
    • Browse Publications service by Funder
  • Help & Advice
University of Warwick

The Library

  • Login
  • Admin

Governing ignorance : emerging catastrophic risks—industry responses and policy frictions

Tools
- Tools
+ Tools

Castellano, Giuliano G. (2010) Governing ignorance : emerging catastrophic risks—industry responses and policy frictions. The Geneva Papers on Risk and Insurance Issues and Practice, Volume 35 (Number 3). pp. 391-415. doi:10.1057/gpp.2010.11 ISSN 1018-5895.

Research output not available from this repository.

Request-a-Copy directly from author or use local Library Get it For Me service.

Official URL: http://dx.doi.org/10.1057/gpp.2010.11

Request Changes to record.

Abstract

The growing interconnections between people, markets and networks together with the development of new technologies have increased the frequency and impact of large-scale disasters around the globe. Many of these events, defined as emerging catastrophic (or systemic) risks, have no previous record. At the same time there is a strong probability that their frequency and impact will increase in the future. This paper takes a governance perspective by assuming that policy actions should be designed to cope with ignorance and large-scale losses, being the primary features characterising such emerging catastrophic risks. Precisely, the governance activity should aim both at expanding the industries’ capacity to absorb losses and at acquiring more information about frequency and impact of such losses. However, it appears that some solutions may conflict with policy objectives. In particular, direct governmental interventions to compensate victims and stringent antitrust policy goals might block the development of a market for first-party property insurance for emerging systemic risks. This paper elicits crucial points that require further elaboration by policy-makers, thereby stressing the importance of providing a workable legal definition of such line of risk that embraces the precautionary principle.

Item Type: Journal Article
Divisions: Faculty of Social Sciences > School of Law
Journal or Publication Title: The Geneva Papers on Risk and Insurance Issues and Practice
Publisher: Palgrave Macmillan Ltd.
ISSN: 1018-5895
Official Date: July 2010
Dates:
DateEvent
July 2010Published
Volume: Volume 35
Number: Number 3
Page Range: pp. 391-415
DOI: 10.1057/gpp.2010.11
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access

Request changes or add full text files to a record

Repository staff actions (login required)

View Item View Item
twitter

Email us: wrap@warwick.ac.uk
Contact Details
About Us