Insuring the Air Transport Industry Against Aviation War and Terrorism Risks and Allied Perils

Issues and Options in a Post-September 11, 2001 Environment

Authors: Nyampong, Yaw Otu Mankata

  • Detailed overview and analysis of common law rules and concepts applicable to insurance in general and aviation war and terrorism risk insurance in particular
  • Provides a useful introduction to the world of aviation insurance for the uninitiated and also an important refresher for the experienced practitioner
  • Includes a detailed discussion of economic and behavioural principles underlying risk assessment and risk management
  • Format facilitates easy reading, appreciation and understanding of an otherwise extremely technical and complicated subject matter
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eBook $149.00
price for USA (gross)
  • ISBN 978-3-642-32433-8
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $189.00
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-32432-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-44511-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book explores the central problems underlying the insurance of aviation war and terrorism risks and associated perils. It critically analyses the reasons why conventional insurance markets are unwilling or unable to provide sustainable insurance coverage for aviation war and terrorism risks in the aftermath of catastrophic events such as the terrorist events of September 11, 2001. It also examines some of the prominent concepts proposed and/or implemented after 9/11 to determine whether and to what extent these concepts avoid identified pitfalls. Like many of life’s essentials, the importance of insurance is most evident when it is not available. The sheer scale and magnitude of the insurance losses that followed 9/11 caused conventional insurance markets (which hitherto had been offering generous insurance coverage for aviation war and terrorism risks to air transport operators for little or no premium) to withdraw coverage forthwith. The ensuing absence or insufficiency of commercial insurance coverage for aviation war and terrorism risks has sparked a global search for viable and sustainable alternatives. Ten years have since elapsed, and despite numerous efforts, the fundamental problems remain unresolved. The book proceeds on the premise that the underlying issues are not entirely legal in nature; they have immense economic, psychological and policy implications that cannot be underestimated. A multidisciplinary approach is therefore used in examining the issues, drawing heavily upon analytical principles adapted from law and economics and behavioural law and economics. It is hoped that the resulting study will be beneficial not only to lawyers and those interested in aviation insurance but also to economists, air transport insurance program managers, capital market investors and governmental policymakers, both at the national and international levels.

Table of contents (8 chapters)

  • Introduction

    Nyampong, Yaw Otu Mankata

    Pages 1-15

  • The Insurance of Aviation Risks by the Conventional Insurance Markets

    Nyampong, Yaw Otu Mankata

    Pages 17-70

  • The Insurance of Aviation War and Terrorism Risks by Specialist War Insurance Markets

    Nyampong, Yaw Otu Mankata

    Pages 71-114

  • Catastrophic Risks and Reflexes: Some Theoretical Perspectives on the Use of Insurance as a Risk Management Tool for Large Catastrophic Risks

    Nyampong, Yaw Otu Mankata

    Pages 115-155

  • Enhancing the Insurance of Aviation War and Terrorism Risks Through the Use of Alternative Risk Transfer and Risk Financing Mechanisms

    Nyampong, Yaw Otu Mankata

    Pages 157-202

Buy this book

eBook $149.00
price for USA (gross)
  • ISBN 978-3-642-32433-8
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $189.00
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-32432-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-44511-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Insuring the Air Transport Industry Against Aviation War and Terrorism Risks and Allied Perils
Book Subtitle
Issues and Options in a Post-September 11, 2001 Environment
Authors
Copyright
2013
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-32433-8
DOI
10.1007/978-3-642-32433-8
Hardcover ISBN
978-3-642-32432-1
Softcover ISBN
978-3-642-44511-8
Edition Number
1
Number of Pages
XX, 324
Topics