01.08.-31.12.2019: Alexander Braun appointed Visiting Professor at the Wharton School and Temple University

Prof. Dr. Alexander Braun joins the Wharton Risk Management and Decision Processes Center (University of Pennsylvania) and the Risk and Insurance Department of the Fox School of Business at Temple University in Philadelphia as a visiting professor for the fall term 2019. At both institutions, Prof. Braun will be working on new financing and derisking concepts for the U.S. National Flood Insurance Program (NFIP). The NFIP offers protection against extreme hydrological events. It is one of the largest sovereign disaster-insurance schemes worldwide. In 2018, the NFIP successfully issued FloodSmart Re, the first ever flood risk cat bond, which hedges the program against storm surge and rainfall losses caused by named storms. Investor demand for the transaction was high, indicating a solid potential for the further use of alternative capital solutions. Since there is little research on the usage of alternative capital to cover flood risk, many questions still need clarification. On this project, Prof. Braun will be part of a multi-institution research team. The overarching motive of the work is the ongoing effort to mitigate the economic and social consequences of natural catastrophes and to bolster the resilience of households and sovereigns.

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