International Society of Catastrophe Managers
Encyclopedia
The International Society of Catastrophe Managers (ISCM) is a professional association that promotes catastrophe management professionalism within the insurance
industry.
Members may use ISCM to explore basic-through-advanced developments in the catastrophe modeling process, gain new catastrophe management skills and experience alternative viewpoints specific to their levels of interest and experience, learn to understand and manage modeling uncertainty in today’s demanding environment, and realize maximum benefits as well as greater levels of comfort when using modeling technology to estimate the financial impacts associated with natural catastrophes and other extreme events.
Maria Kovas- Treasurer - TOA Reinsurance
Ron Nash- Director - NCR Global LLC
Andrew Castaldi- Executive Director - Swiss Reinsurance America Corporation
Board members
Simon Webber - QBE
Elizabeth Edelstein - Guy Carpenter
Dan Dick - Aon BenField
Scott Cooper - Risk Management Solutions, Inc
Federico Waisman - Goldman Sachs
Thomas Larsen - EQECAT, Inc.
Randall Law - Ace Tempest Re Group
Nicholas DiMuzio - XL Group
Uday Virkud - AIR Worldwide Corporation
Amy Wixon - Liberty Mutual Insurance
Robert Stevenson - Kiln Group
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
industry.
Goal and objectives
ISCM's goal is to provide forums for exchange of ideas, understanding current catastrophe management issues, and networking among catastrophe managers.Members may use ISCM to explore basic-through-advanced developments in the catastrophe modeling process, gain new catastrophe management skills and experience alternative viewpoints specific to their levels of interest and experience, learn to understand and manage modeling uncertainty in today’s demanding environment, and realize maximum benefits as well as greater levels of comfort when using modeling technology to estimate the financial impacts associated with natural catastrophes and other extreme events.
Board of directors
Carl Hedde- President - Munich Reinsurance America Inc.Maria Kovas- Treasurer - TOA Reinsurance
Ron Nash- Director - NCR Global LLC
Andrew Castaldi- Executive Director - Swiss Reinsurance America Corporation
Board members
Simon Webber - QBE
Elizabeth Edelstein - Guy Carpenter
Dan Dick - Aon BenField
Scott Cooper - Risk Management Solutions, Inc
Federico Waisman - Goldman Sachs
Thomas Larsen - EQECAT, Inc.
Randall Law - Ace Tempest Re Group
Nicholas DiMuzio - XL Group
Uday Virkud - AIR Worldwide Corporation
Amy Wixon - Liberty Mutual Insurance
Robert Stevenson - Kiln Group
Partner organizations
ISCM partners with Risk Management Solutions, AIR Worldwide, and EQECAT.See also
- Catastrophe modelingCatastrophe modelingCatastrophe modeling is the process of using computer-assisted calculations to estimate the losses that could be sustained due to a catastrophic event such as a hurricane or earthquake...
- ReinsuranceReinsuranceReinsurance is insurance that is purchased by an insurance company from another insurance company as a means of risk management...
- Catastrophe bonds
- Industry Loss WarrantiesIndustry Loss WarrantiesIndustry Loss Warranties, often referred to as ILWs, are a type of reinsurance or derivative contract through which one party will purchase protection based on the total loss arising from an event to the entire insurance industry rather than their own losses...
- Alternative Risk TransferAlternative Risk TransferAlternative Risk Transfer is the use of techniques other than traditional insurance and reinsurance to provide risk bearing entities with coverage or protection...
- Reinsurance sidecarReinsurance SidecarReinsurance sidecars, conventionally referred to as "Sidecars," are financial structures that are created to allow investors to take on the risk and return of a group of insurance policies written by an insurer or reinsurer and earn the risk and return that arises from that business...