English Appendix
Risk Management challenges cannot be dealt simply by insurance-based transfer
In the northern hemisphere high summer is now upon us, a time of year when many people take their annual holidays.The editorial committee has therefore tried to turn this copy of the review into an amenable and enjoyable reading experience, even while dealing rigorously with each issue raised.
One of the challenges we face in the dawn of the 21st century is our ignorance of exactly how future risks might pan out.The byword now seems to be the globalisation of products, services and markets, but these challenges cannot be dealt with simply and solely by insurance-based risk transfer.
This is the picture painted on inside pages by our interviewee, Miguel Ángel Macías, Manager of the Insurance Department of FCC.We would like to take this opportunity of sending him our heartfelt congratulations for his recent appointment as President of the Spanish Association of Insurance and Risk Management (Asociación Española de Gerencia de Riesgos y Seguros:AGERS).
It has always been our concern to give the widest possible range of academic views and opinions on the multifarious field of Risk Management.As part of this ongoing endeavour, in this issue we publish a study on the assessment of post-catastrophe damage. Such disasters and catastrophes are becoming increasingly frequent due to the current development models and the relentless pressure placed on natural resources.
The next study, based on empirical data gleaned from a multinational survey, gives an outline of the future that beckons for surety bonds.Tapping into the new technologies and telecommunications world, the new system takes its name – electronic bonding – from the conversion of the hard-copy documents (insurance policy and handwritten signature) into an electronic document.
This section closes with a study based on a paper presented in a meeting organised by INADE (Atlantic Insurance Institute) and held at the end of last year in Madrid. In this paper the author proposes a model to meet the new client-advice requirements laid down in the Private Insurance and Reinsurance Mediation Act (Ley de Mediación del Seguros y Reaseguros Privados) of 17 July 2006, based on the fair analysis of a sufficient number of insurance contracts.
To wind up this Editorial we would like to take the chance once more to thank our readers and subscribers for the excellent reception of this publication. Thanks for standing beside us; thanks for being there.