Summary of The God Clause and the Reinsurance Industry

The risk business can tell us a lot about catastrophes. Why don't we listen?

Bloomberg Businessweek ,

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The God Clause and the Reinsurance Industry summary
What if the worst thing you can imagine is not the worst thing that can actually happen? Trouble for the reinsurance industry.


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Few people work directly with reinsurance, so it may seem an oddity. However, since reinsurers work at estimating the likelihood of disasters, and their work underpins insurance, they affect everyone. What reinsurance has and hasn’t been able to predict has gotten more complicated in this age of global terrorism and climate change which has far-reaching ramifications. getAbstract suggests this article to all grappling with the implications of global change, and, specifically, to readers seeking to understand risk.

In this summary, you will learn

  • What the reinsurance industry does,
  • Why disasters are hard to predict and
  • How reinsurers can help mitigate risks.


Many people don’t know what reinsurance companies do. Unless you work for an insurance company, you would not deal with them. Reinsurers insure insurance companies against catastrophic events. This means that the reinsurance industry is deeply invested (literally) in anticipating not just “high frequency...
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About the Author

Brendan Greeley is a staff writer for Bloomberg Businessweek.

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