Catastrophe Risk Management : Using Alternative Risk Financing And Insurance Pooling Mechanisms
- Topics:
- Insurance
- Tags:
- Business Operations,
- Risk Management,
- Insurance,
- Free Trade,
- Financing,
- Financial Planning,
- Financial Accounting,
- Finance,
- Corporate Insurance,
- World Bank Group
- Source:
- World Bank Group
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Overview: Residual stochastic risks from catastrophic natural events can be addressed through insurance pooling and risk transfer mechanisms that provide the basis for financial protection and instill strong incentives for reducing vulnerability. To reduce the economic stress after disasters, the author shows, World Bank instruments could be used to support initiatives to help correct market imperfections in catastrophe insurance. He takes a step-by-step approach to showing how both risk pooling structures and alternative catastrophe coverage mechanisms can achieve better risk protection and financing terms--enough to allow the expansion of insurance coverage of public assets and private property. The paper concludes that stronger risk assessment and enforcement of such structural measures as zoning and compliance with building codes.
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Format: PDF | Size: 8,839KB | Date: Feb 2001 | Pages: 130
