The ageing of the baby -boom generations and the continuous increas e in life expectancy are two combined phenomena which lead to an increase in both the number and the proportion of elderly people. According to projections for France, one person out of three will be aged 60 years and over in 2050 , and the group of 75 years and older would increase from 4. 9 millions to 10.9 millions (i.e. +120 per cent) , and the group of the oldest -old , the 85 years and more, would grow from 1. 1 to 4.2 millions (i.e. +280 per cent) .

This fourth report in The Geneva Association series on Financial Stability and Insurance provides more detailed analysis of how insurance recovery and resolution mechanisms work.

Ageing is one of the most significant issues facing societies around the world. Populations are ageing as people live longer and birth rates decline. Although much of the focus on the impact of these demographic changes has been on specific countries, populations are ageing rapidly around the globe.

The year 2011 was unquestionably an annus horribilis in terms of natural catastrophes and this publication offers a reflection on these events. Comprising a series of high quality contributions providing both a global and detailed picture of the 2011 events. These contributions also offer a rigorous analysis of the role and mechanisms of insurance in managing climate risk and other extreme events.

Geneva Report No. 7 presents case studies on four topics: floods, earthquakes, resilient communities and liability litigation as a tool for disaster remediation. Its aim is to highlight the interconnections and forms of cooperation that exist between the different stakeholders—individuals, businesses, government authorities, judiciary systems, risk experts, engineers and the insurance industry—involved in mitigating the effects of catastrophic events.

The Geneva Association has issued a series of case studies to illustrate the different ways that insurance can form part of the potential contributions to reducing disaster risk. It looks for evidence of systems where the absence of insurance has had a detrimental effect on outcomes for people and businesses. The report calls on governments to work on disaster risk reduction measures and to harness the expertise available in the insurance industry.

An account of The Geneva Association’s ongoing dialogue on systemic risk with regulators and policy-makers.