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Formy finansowania retencji ryzyka. Ramy procesu decyzyjnego

100%
Wieczorek-Kosmala M.
Nauki o Finansach
|
2011
|
issue 6
133-147
EN
The paper discusses the nature and role of risk retention as a risk management technique. The key types of risk retention are presented, concerning the intention of their application (unplanned and planned risk retention) and the nature of funding arrangements (unfunded and funded risk retention, including pre- and post-loss funding). Furthermore, the paper examines particular funding arrangements that a company may consider for a given risk exposure. For that purpose, the available funding arrangements are classified into traditional and non-traditional. Within non-traditional funding arrangements closer attention is paid to finite risk programs, contingent capital facilities and captives.
2

Techniki redukcji ryzyka operacyjnego

100%
Thlon M.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
|
2011
|
issue 875
47-62
EN
Operational risk is a new area of knowledge. The phrase was first used in the 1992 COSO (The Committee of Sponsoring Organizations of the Treadway Commission) report, “Internal Control, Integrated Framework”. However, this nomenclature became widespread only after the collapse of the Barings Bank in 1995. Since then, operational risk has created a great deal of interest among scientists. The main objective of this publication is to present operational risk reduction techniques. The author introduces the most often used approaches to limiting operational risk, beginning from the simplest activities that make it possible to rationalise particular processes of the activity, through insurance and up to alternative forms of risk transfer based on captive insurance companies and financial instruments that promote the limitation of operational risk.
3

Zastosowanie ubezpieczeniowych instrumentów pochodnych jako sposob alternatywnego transferu ryzyka katastroficznego

100%
Strupczewski G.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
|
2011
|
issue 875
29-46
EN
The article examines insurance derivatives traded on capital markets, focusing on their structure and application mechanisms. The main function of these derivatives is to provide collateral funds in cases of natural disaster. Insurance derivatives don’t serve as an indemnification contract for financing a particular cedant’s losses, so substantial basis risk is a serious consideration. On the other hand, less moral hazard and the low cost of coverage play an important role. Enhancing risk diversification, derivatives make it possible to cover disaster risks previously considered non-insurable. That insurer and re-insurer financial results are stabilised by minimising the ruin probability in case of the rapid growth of loss-ratio is another advantage of insurance derivatives. Developing these instruments requires the insurance sector have an appropriate level of maturity and those participating not only be prepared financially and technologically but also possess the proper know-how.
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