Summary of The Art of Risk Management

Alternative Risk Transfer, Capital Structure and the Convergence of the Insurance and Capital Markets

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The Art of Risk Management book summary
Initials aren’t the only reason that alternative risk transfer products are called ART. The real art resides in knowing how to use them to manage risk and make money.

Rating

9 Overall

9 Applicability

9 Innovation

8 Style

Recommendation

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, getAbstract.com congratulates 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.

In this summary, you will learn

  • How to establish your firm’s optimal capital structure
  • The pros and cons of classical risk transformation products vs. alternative risk transfer products
  • Practical considerations for achieving your specific state of the ART (alternative risk transfer)
 

Summary

The Art of Risk Management
Today’s most critical convergence is between corporate finance and risk management. To consider seriously how your firm manages risk, you must also consider how it raises capital, and vice versa.

Alternative risk transfer (ART), which reflects ...
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About the Author

Christopher L. Culp Managing Director at CP Risk Management LLC in Chicago, is an Adjunct Associate Professor of Finance at the University of Chicago. A former President of Risk Management Counseling Services, Inc., and senior examiner in the Supervision and Regulation Department of the Federal Reserve Bank of Chicago, Dr. Culp is a managing editor of Derivatives Quarterly and Senior Fellow in Financial Regulation with the Competitive Enterprise Institute in Washington, D.C. He holds a Ph.D. in finance from the Graduate School of Business of the University of Chicago and a B.A. in economics from John Hopkins University.


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