Risk management is gaining in importance in companies and society in general. This book is divided into two main parts. In the first, the concept of risk is introduced in its historical context, and the terminology and concepts related to identifying and characterizing risk exposures are defined. The tools needed to appreciate risks are reviewed, and the different steps of the risk management process are discussed. The second part focuses on insurance economics, social insurance, and the private insurance market. The various branches and products of private insurance are analyzed before the book outlines the basis for calculating insurance premiums based on contractual benefits and provides an overview of an actuary’s practice.
Numerous practical applications (such as cyber risk management), examples, and illustrations complete the whole. This book is a reference work for students at business schools, practitioners, and anyone interested in risk management and insurance.