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The insurance industry is confronted with ever bigger losses due to large disasters as well as with a series of new risks whose risk profile is extremely difficult to quantify. This paper deals with the emergence of these new risks and the challenges that the industry will face in managing them. The Geneva Papers (2006) 31, 88–95. doi:10.1057/palgrave.gpp.2510067

Natural and Large Catastrophes – Changing Risk Characteristics and Challenges for the Insurance Industry