under the aegis of the Risk Foundation,
with the ENSAE, the École Polytechnique, Paris Dauphine University and AXA

The insurability of major risks (natural catastrophes, acts of terrorism, health crises, etc.) has become a fundamental concern for individuals and businesses alike.
In addition, new risks are appearing as long-term threat often accompanied by scientific uncertainties, as is the case with climate change.
Other risks are particularly instable, as they depend on the development of the legal framework - for example, risks relating to medical professions or business responsibility for environmental risk.
It is precisely these kinds of risks that we classify as major, as they are wide-reaching, difficult to evaluate based on probability calculations and are in constant evolution.
The Chair aims to study the ways in which these risks can be insured.
This task involves risk management for insurance companies (risk evaluation and calculation of reserves), and also the securitisation of insurance risks and capitalisation mechanisms associated with long-term risks.
These questions cannot be separated from demands for prevention by both the State and by insurance mechanisms, as is the case for natural disasters.

Joint holders:

- Christian GOURIEROUX, professor at ENSAE

- Pierre PICARD, professor at the École Polytechnique.