Risks and insurance

  • Annamaria OlivieriEmail author
  • Ermanno Pitacco


The main purposes of this Chapter are:

• to present the concept of individual “risk”, focussing in particular on quantitative aspects of the (negative) financial consequences of some events which can concern a person, a family, a firm, and so on;

• to introduce the role of an insurance company (briefly, an insurer), which takes individual risks, building up a “pool”, and then bears the risk of losses caused by an unexpected number of events in the pool, or by an unexpected severity of the financial consequences of such events.


Risk Aversion Risk Measure Random Amount Insurance Contract Insurance Product 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  1. 1.Dipartimento di EconomiaUniversità di ParmaParmaItaly
  2. 2.Dipartimento di Scienze Economiche, Aziendali, Matematiche e StatisticheUniversità di TriesteTriesteItaly

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