Integrated Risk Management: Techniques and Strategies for Managing Corporate Risk [Hardcover]

Neil Doherty (Author)

Book Description

ISBN-10: 0071358617 | ISBN-13: 978-0071358613 | Publication Date: March 27, 2000 | Edition: 1

Over the years, risk management has developed separately in both the insurance and financial fields. Today, the two are finding value in each other's tools and techniques. Integrated Risk Management combines the best of the two notions of risk management, insurance and financial, to develop solutions ideal for taday's complex risk environment. Tools go beyond hedging strategies to also examine leveraging, post-loss financing, contingent financing, and fiversification.

Editorial Reviews

From the Back Cover

Strategies for ENTERPRISE RISK MANAGEMENT - Synthesizing Insurance and Capital Market Risk. Risk management is an integral part of today's business arena. As we enter the 21st century, unprecedented global competition and razor-thin margins make the effective management of financial risk essential to corporate value, success - and survival. Integrated Risk Management combines today's best insurance and financial risk management strategies and products into innovative, effective solutions for managing a coporation's exposure to financial risks. Timely, comprehensive research and case studies show how today's corporation can use the technology of both finance and insurance to address the whole range of corporate risks - financial, insurable, operational, and business. Turn to Integrated Risk Management for discussions and recommendations that include: *Hedgin strategies to remove risk versus restructuring strategies to accommodate risk. *In-depth examination of postloss investment decisions under different financing assumptions. *Detailed instructions on how and why to bundle contingent financing and leverage tools: insurance, options, convertible debt, and more. By combining the best of the two approaches to risk management - insurance and financial - Integrated Risk Management develops pratical solutions for today's evolving and increasingly complex risk environment. Its integrated approach addresses multiple sources of risk in a coordinated strategy, and explains how to use today's most efficient techniques to successfully manage risk in the corporate environment.

About the Author

Neil Doherty, Ph.D., (Philadelphia, PA) is the Ronald A. Rosenfeld Professor of Insurance and Risk Management at the Wharton School of Business. A consultant to major global corporations, Dr. Doherty also wrote Corporate Risk Management.

Product Details

• Hardcover: 646 pages
• Publisher: McGraw-Hill; 1 edition (March 27, 2000)
• Language: English
• ISBN-10: 0071358617
• ISBN-13: 978-0071358613
• Product Dimensions: 9.1 x 6.4 x 1.6 inches
• Shipping Weight: 2.3 pounds
• Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #955,700 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful:

4.0 out of 5 stars Risk Aggregation?, October 16, 2000

By A Customer

This review is from: Integrated Risk Management: Techniques and Strategies for Managing Corporate Risk (Hardcover)

Having read the text on the flap of the book, as advertised by Amazon, I immediately asked our library to purchase the book. Its contents however did not contain some details that I was hoping to find. Integrated risk management is not treated comprehensively (as it is supposed to do), as risk measurement and the possible aggregation of risk measures in the framework of integrated risk management are left out. There is a long introduction into the basics, which is admittedly very good. Later on, there is a wonderful discussion on risk management strategies. As a textbook, this would do fine, since the basics are explained, and the structure of the discussion is good. But I do miss the real integration of risk measures into one figure. And also, the text of the flap mentioned how insurance methods have been incorporated into finance. This is however only in the level of strategies. Nothing on for example how credit risk measurement has taken up methods used in insurance management. In any case, the book is quite useful for those involved in strategical risk management.

6 of 6 people found the following review helpful:

5.0 out of 5 stars Good strategic read - let down only by its editor, November 3, 2000

By A Customer

This review is from: Integrated Risk Management: Techniques and Strategies for Managing Corporate Risk (Hardcover)

This book is an excellent read on the importance of integrated risk management (although as the previous reviewer indicated it does not attempt to describe in any detail an integrated risk measurement system - although it does hint at the use of simulation for this purpose at the end of Chp 14). It also highlights rather well the tools that exist in the insurance markets that can be used to achieve risk management ends consistent with corporate finance theory. The book does not attempt to focus on any particular risk since the theme of the entire book is that the effect of risk, not its source, is the most important factor in managing risk.

As with many first releases this book suffers a large number of editorial oversights but given the simple presentation of the many examples in the book these errors are fairly straightforward to pick.

2 of 2 people found the following review helpful:

5.0 out of 5 stars It is the best of what is available in a book format., November 16, 2001

By 

NAS (New York, USA) - See all my reviews

This review is from: Integrated Risk Management: Techniques and Strategies for Managing Corporate Risk (Hardcover)

The book is a delight to read, especially if the reader has a corporate finance background. For those with out, Doherty devotes the first six chapters to a thorough review of key corporate finance concepts. I strongly recommend it. The book does not provide quick solutions or "to do lists". It is designed to create in you an in depth understanding of the issues surrounding the field of risk financing and the interrelationship between insurable risk, business risk and economic value. This is a book well worth the trees it took to make the paper for its 600 plus pages. If you want more, perhaps you need to enroll in an MS program...