The ART of Risk Management | 
| Author: Christopher L. Culp
Publisher: Wiley
Category: Book
List Price: $90.00
Buy New: $26.10
You Save: $63.90 (71%)
New (22) Used (15) from $4.72
Avg. Customer Rating:  2 reviews
Sales Rank: 286360
Media: Hardcover
Edition: 1st
Number Of Items: 1
Pages: 320
Shipping Weight (lbs): 2.1
Dimensions (in): 9.1 x 6.1 x 1.6
ISBN: 0471124958
Dewey Decimal Number: 658.155
EAN: 9780471124955
ASIN: 0471124958
Publication Date: February 15, 2002
Availability: Usually ships in 1-2 business days
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Product Description
The ART of Risk Management P"This book evidences links and trade-offs between some key drivers of corporate value creation: capital structure, strategic definition of core and noncore risks, risk management retention and transfer, with a valuation of externalization, to achieve an integrated allocation and management of firms capital. From math to legal, it takes us a definite step forward in modern finance." -Jacques Tierny, Deputy CFO, Michelin Group P"For someone like me who has observed the evolution of financial theory and practice over the past twenty years, Culps new book is a really extraordinary undertaking and accomplishment. On one level, it provides a comprehensive-and quite readable-account of the most important financing and risk management innovations in both insurance markets and capital markets. Even more remarkable is its success in fitting these innovative solutions and products into a single, unified theory of financial markets-one that integrates the once largely separate discipline of insurance and risk management with the current theory and practice of corporate finance." -Donald Chew, Editor of Journal of Applied Corporate Finance and a founding partner of Stern Stewart Co. P"Chris Culp succeeds to cover this multifaceted and somehow fragmented ART market in a holistic way." -Thomas Bruendler, President, Allianz Risk Transfer (UK) Limited P"This is indeed a book about convergence. It is dealing with the latest developments in the insurance and capital markets which blur the boundaries between these two areas. Laying the scientific foundations of ART, it also brings together theory and practice of this innovative field in an unprecedented way. Moreover, Culp looks behind the driving forces of ART and relates them back to their common underlying aspiration, the quest for optimal capital structure." -Paul Woehrmann, PhD, Head of Center of Excellence ART and Member of Executive Management Continental Europe Corporate, Zurich Financial Services P"Culp divulges the true nature of convergence-as art and science, rooted in both traditional theories and forward-looking practices. He demonstrates undeniably that the marriage of the insurance and capital markets, once considered futuristic, is a pragmatic solution for corporations seeking to manage risk, generate capital, and create new value." -Tobey Russ, President CEO, Chubb Financial Solutions
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| Customer Reviews:
 For Useless Academics April 3, 2004
2 out of 5 found this review helpful
If you are a practicioner, skip this book. Even academics will find this rehash (and outright clone) of better material a waste of time.
 Packed with Knowledge! November 12, 2002
6 out of 10 found this review helpful
Finance professional and professor Christopher L. Culp tells all, that is, all about alternate risk transfer (ART) products. Culp discusses corporate finance in detail, covering different types of capital. He sets out the risk control and capital structure functions of various classical and alternative risk transfer steps, such as derivatives targeted at market and credit risk, asset divestiture, insurance and reinsurance. Don't even go here if you aren't already familiar with (or studying) the sophisticated basics of finance, since this is highly technical reading, including numerous formulas, charts and graphs describing financial theories and processes. But if you are an expert, we from getAbstract congratulate you on finding your way to Culp, who aimed his book at the already-savvy: corporate treasurers, financial officers and those who participate in capital markets and the reinsurance industry.
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