'Lou Pauly is right. In an increasingly interconnected world economy, uncertainty poses a profound challenge to governance. The imperative, Pauly argues, lies in the 'insuring instinct' - the development of ever more refined mechanisms for risk management that move beyond narrow self-reliance to broader forms of policy collaboration. The argument is backed up with rigorous logic and extensive case studies. A must-read for any serious student of global governance.' Benjamin Cohen, Distinguished Professor Emeritus, UCSB 'In this excellent book, Lou Pauly presents insurance and collaborative risk governance as a powerful way to deal with the frightening risks humans face. From nuclear accidents to financial meltdowns, he dives into the detail and draws out the ways insurance can bolster resilience and unleash experimentation and human ingenuity. A must-read for scholars of governance.' Ngaire Woods, Dean of the Blavatnik School of Government, University of Oxford 'The book provides a fascinating historical perspective of risks, risk management and the insurance of risks. Pauly explains well that the development of market-based economies, financial markets and ultimately today's prosperity would not have been possible without insurances and re-insurances. The book also makes clear that globalization and a growing number of complex cross-border risks would require more ambitious global cooperation and interventions. A timely reminder!' Klaus Regling, former Managing Director of the European Stability Mechanism 'This groundbreaking book is the culmination of Louis Pauly's extensive journey into the governance of border-spanning risks. Drawing on a rich blend of sociological and international relations theory, Pauly offers a conceptually sophisticated and refreshingly original perspective. His innovative approach is paired with compelling empirical insights, making this work essential reading for anyone interested in global governance and risk.' Michael Zürn, Director at the WZB Berlin Social Science Center and Professor at the Freie Universität Berlin
