Part of operational risk. Catastrophe risks include fires, severe weather – storm damage, floods – , earthquakes and related disruptions to the energy supply (electricity cuts; power failures) and similar events. A pandemic is also usually counted as a catastrophe risk. – See flash crash, hell-and-flood contract, hurricane shock, information hedge, insurance-linked securities, catastrophe bonds, shock, external, electricity risk, terror shock, uncertainty, weather derivative, worst-case scenario. – Cf. Monthly Report of the Deutsche Bundesbank of August 2014, pp. 23 et seq. (weather-related influences on the national product using the example of the United States; overviews; references).
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