In Bologna an international Conference of cooperative reinsurers takes place: this is the eighth meeting of the International Co-operative Reinsurance Bureau (ICRB), with eighty people representing forty cooperative insurance and reinsurance companies from all over the world. The issues concern the reinsurance technique and in particular the definition of catastrophic event, the rates set in treaties regulating the excess of catastrophic incidents, and the effects of inflation and exchange rate trends on reinsurance.