The Global Risks Alliance (GRA)
Topics at Reinsurance and Catastrophe: the pages in this section are listed below, each with its own scope and status.
GRA · In development · service level R0
The Reinsurance and Catastrophe topics are the eight subject dossiers of its field, among them reinsurance structures, catastrophe models and aggregate accumulation. Each dossier sets out how the risk develops, what is measured and in which units, the public sources and their licences, the methods, who decides and the limits of the evidence.
GRA is a nonprofit business league for the financial services industry. It does not lend, underwrite, rate, invest, advise on or arrange transactions, and readiness work is not approval.
Topic pages in Reinsurance and Catastrophe share one structure: mechanisms, indicators, sources, methods, decisions and limits, written for catastrophe modellers and reinsurance underwriters and brokers' analysts.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| Quota share | Proportional reinsurance in which a fixed share of premiums and losses on every policy is ceded. |
| Stochastic event set | A large simulated catalogue of events, each with a frequency, representing what a peril could produce. |
| Accumulation | The total exposure that could be affected by one event across a portfolio. |
| Insurance protection gap | The difference between economic losses and insured losses, for an event, a year or an expected annual figure. |
| Secondary peril | A peril such as flood, hail or wildfire that is smaller per event than primary perils but frequent and rising in loss. |
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
Treaty and facultative risk-sharing concepts.
TopicEvent sets, vulnerability and limits.
TopicConcentrations across regions and perils.
TopicCoverage, affordability and systemic consequences.
TopicChanging physical hazards and nonstationarity.
TopicLayered risk-transfer market dependencies.
TopicUncertainty, sensitivity and benchmarks.
TopicLoss reporting and data quality.
The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.