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It should demand reciprocity; if you contribute to society, you're protected from catastrophes no one can control.
The reinsurance business plays an important role in paying claims from catastrophes for which regular front-line insurers don't want to take the full risk.
They need to spread it as widely as possible across the investment world and, in the process, minimize the cost of insuring potential losses from catastrophes.
Lloyd's of London widened its estimated 1999 loss to £1.39 billion ($2.02 billion) from £1.1 billion ($1.6 billion) because of extensive losses from catastrophes.
"The very first risk factor we report on Page 1 are significant losses we may face from catastrophes and severe weather," he said.
Oddly, customers (that is, most of us) tend to underestimate the potential harm from catastrophes, largely because we don't think clearly about "extreme events" — events that are improbable but costly.
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Morgan Stanley is highly profitable, and looks far from catastrophe.
"We've just passed two fingers from catastrophe," he said.
In the days after the extraction the doctor's thoughts leap from catastrophe to catastrophe.
Here we'll take a look at the simplest picture from catastrophe theory.
North African countries, in particular Algeria, must also help save Mali from catastrophe.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com