The Alternative Risk Transfer (ART) market has expanded in recent years to become a vital source of risk solutions and risk capacity and an important mechanism for the creation of integrated corporate risk management programs.

The ART market unites the risk management and product development skills of financial institutions, insurers and reinsurers with the capital of global investors to give corporate risk managers the best possible means of managing financial and operating risks. In a time when natural and man-made disasters and financial volatility are constantly present, the need for dependable, equitably priced risk capacity and innovative, holistic risk solutions has never been greater. The ART market, which can supply both, is thus becoming an integral component of the 21st century financial markets.

Alternative Risk Transfer, written by a veteran of the banking and insurance industries, provides a practical, detailed and up-to-date review of the topic. The text is divided into four parts, including
Risk and the ART market
Insurance and Reinsurance
Capital Markets
Enterprise Risk Management and the Future of ART

The book contains numerous worked examples and case studies to place the subject in a practical light, and is ideal reading for CFOs, corporate risk managers, treasurers, institutional investors and fund managers seeking to understand the ART market.

TABLE OF CONTENTS

Acknowledgements
Biography

Part. I Risk and the Art Market
1 Overview of Risk Management
2 Risk Management Drivers: Theoretical Motivations, Benefits, and Costs
3 The ART Market and its Participants

Part. II Insurance and Reinsurance
4 Primary Insurance/Reinsurance Contracts
5 Captives
6 Multi-risk Products

Part. III Capital Markets
7 Capital Markets Issues and Securitization
8 Contingent Capital Structures
9 Insurance Derivatives

Part. IV Art of the Future
10 Enterprise Risk Management
11 Prospects for Growth

Glossary
Selected References
Index