Frank Lombardo - Academia.edu (original) (raw)
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Papers by Frank Lombardo
The Latin American and Caribbean region is highly exposed to natural disasters. The social and ec... more The Latin American and Caribbean region is highly exposed to natural disasters. The social and economic impact of these events has been historically very significant and it is showing an increasingly growing trend. During the first quarter of 2010, this unfortunate reality was evidenced with the Haiti and Chile earthquakes. Preliminary impact assessments indicate that the powerful January 2010 Port-au-Prince earthquake killed more than 225,000 people and caused damages and losses of about US$8 billion dollars (about 120 percent of last year GDP). This technical note presents the current Inter-American Development Bank Strategic Approach to catastrophe risk financing and discusses the technical and economic underpinnings for the proposed disaster-linked financial instruments. The paper considers the accumulated stock of knowledge about disaster risk management over the past decade and discusses how it is being deployed effectively in the region by the Bank.
Weather derivatives are a relatively recent kind of financial product developed to manage weather... more Weather derivatives are a relatively recent kind of financial product developed to manage weather risks, and currently the weather derivatives market is the fastest-growing derivative market. The development of weather derivatives represents one of the recent trends toward the convergence of insurance and finance. This article presents an overview of weather risks, weather derivatives, and the weather derivatives market, and examines the valuation of weather derivatives in an incomplete market, the hedging effectiveness of standardized weather derivatives, as well as optimal weather hedging with the consideration of basis risk and credit risk.
The European fire protection associations have decides produce common guidelines in order to achi... more The European fire protection associations have decides produce common guidelines in order to achieve similar interpretation in European countries and to give examples how damage from natural hazards can be effectively limited by preventive and defensive measures, normally learnt from experience. CFPA Europe also develops and ratifies guidelines for all aspects of fire prevention, and safety and security related problems. The objectives of CFPA are to improve safety and security and to prevent the consequent loss of life and destruction of property and business. The market imposes new demands for quality and safety.
The Latin American and Caribbean region is highly exposed to natural disasters. The social and ec... more The Latin American and Caribbean region is highly exposed to natural disasters. The social and economic impact of these events has been historically very significant and it is showing an increasingly growing trend. During the first quarter of 2010, this unfortunate reality was evidenced with the Haiti and Chile earthquakes. Preliminary impact assessments indicate that the powerful January 2010 Port-au-Prince earthquake killed more than 225,000 people and caused damages and losses of about US$8 billion dollars (about 120 percent of last year GDP). This technical note presents the current Inter-American Development Bank Strategic Approach to catastrophe risk financing and discusses the technical and economic underpinnings for the proposed disaster-linked financial instruments. The paper considers the accumulated stock of knowledge about disaster risk management over the past decade and discusses how it is being deployed effectively in the region by the Bank.
Weather derivatives are a relatively recent kind of financial product developed to manage weather... more Weather derivatives are a relatively recent kind of financial product developed to manage weather risks, and currently the weather derivatives market is the fastest-growing derivative market. The development of weather derivatives represents one of the recent trends toward the convergence of insurance and finance. This article presents an overview of weather risks, weather derivatives, and the weather derivatives market, and examines the valuation of weather derivatives in an incomplete market, the hedging effectiveness of standardized weather derivatives, as well as optimal weather hedging with the consideration of basis risk and credit risk.
The European fire protection associations have decides produce common guidelines in order to achi... more The European fire protection associations have decides produce common guidelines in order to achieve similar interpretation in European countries and to give examples how damage from natural hazards can be effectively limited by preventive and defensive measures, normally learnt from experience. CFPA Europe also develops and ratifies guidelines for all aspects of fire prevention, and safety and security related problems. The objectives of CFPA are to improve safety and security and to prevent the consequent loss of life and destruction of property and business. The market imposes new demands for quality and safety.