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'''Alternative Risk Transferrisk transfer''' (often referred to as '''ART''') is the use of techniques other than traditional insurance and reinsurance to provide risk -bearing entities with coverage or protection. The field of alternative risk transfer grew out of a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional coverage to seek more robust ways to buy protection.
Most of these techniques permit investors in the capital markets to take a more direct role in providing insurance and reinsurance protection, and as such the broad field of alternative risk transfer is said to be bringing about a convergence of insurance and financial markets.
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Banks; there are Wikipedia articles on: , e.g. [[JPMorgan Chase]], [[Goldman Sachs]], [[Bank of America]], and [[Citibank]].
Insurers; there are Wikipedia articles on: , e.g. [[American International Group|AIG]], [[Zurich Financial Services|Zurich]], [[USAA]], and [[XL Capital]]
Reinsurers; there are Wikipedia articles on: , e.g. [[Munich Re]], [[Hannover Re]]. and [[Swiss Re]].
Brokers; there are Wikipedia articles on: , e.g. [[Willis Group Holdings|Willis]], [[Marsh]], [[Aon Corporation(company)|Aon]]
Consultants; there are Wikipedia articles on , e.g. [[Towers Watson]], [[Mercer (consulting firm)|Mercer]], and [[Cavendish Consulting (consulting firm)]].
Sovereigns: Mexico is the only national sovereign to have issued cat bonds (in 2006, for hedging earthquake risk; in 2009, a multistructure instrument covering earthquake and hurricane risk).<ref>Luis Flores Ballesteros. "Using international financial markets for funding disaster recovery- The case of an Earthquake Catastrophic Bond in Mexico" ''Latinomaerica Puede'' Sep. 2008:54 Pesos 6 October 2008. {{cite web|url=http://latinamericapuede.org/2008/10/06/using-international-financial-markets-for-funding-disaster-recovery-the-case-of-an-earthquake-catastrophic-bond-in-mexico/ |title=Archived copy |accessdate=2011-03-08 |deadurl=yes |archiveurl=https://web.archive.org/web/20110819204152/http://latinamericapuede.org/2008/10/06/using-international-financial-markets-for-funding-disaster-recovery-the-case-of-an-earthquake-catastrophic-bond-in-mexico/ |archivedate=2011-08-19 }}</ref>
