Sovereign Natural Disaster Insurance For Developing Countries A Paradigm Shift In Catastrophe Risk Financing

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Sovereign Natural Disaster Insurance for Developing Countries: A Paradigm Shift in Catastrophe Risk Financing

Francis Ghesquiere
Sovereign Natural Disaster Insurance for Developing Countries A Paradigm Shift in Catastrophe Risk Financing Book PDF

Author : Francis Ghesquiere
Publisher : World Bank Publications
Page : 26 pages
File Size : 53,6 Mb
Release : 2012
Category : Electronic
ISBN : 8210379456XXX

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Sovereign Natural Disaster Insurance for Developing Countries: A Paradigm Shift in Catastrophe Risk Financing by Francis Ghesquiere Pdf

Economic theory suggests that countries should ignore uncertainty for public investment and behave as if indifferent to risk because they can pool risks to a much greater extent than private investors can. This paper discusses the general economic theory in the case of developing countries. The analysis identifies several cases where the government's risk-neutral assumption does not hold, thus making rational the use of ex ante risk financing instruments, including sovereign insurance. The paper discusses the optimal level of sovereign insurance. It argues that, because sovereign insurance is usually more expensive than post-disaster financing, it should mainly cover immediate needs, while long-term expenditures should be financed through post-disaster financing (including ex post borrowing and tax increases). In other words, sovereign insurance should not aim at financing the long-term resource gap, but only the short-term liquidity need.

Sovereign Natural Disaster Insurance for Developing Countries

Olivier Mahul
Sovereign Natural Disaster Insurance for Developing Countries Book PDF

Author : Olivier Mahul
Publisher : Unknown
Page : 26 pages
File Size : 46,9 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290703267

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Sovereign Natural Disaster Insurance for Developing Countries by Olivier Mahul Pdf

Economic theory suggests that countries should ignore uncertainty for public investment and behave as if indifferent to risk because they can pool risks to a much greater extent than private investors can. This paper discusses the general economic theory in the case of developing countries. The analysis identifies several cases where the government's risk-neutral assumption does not hold, thus making rational the use of ex ante risk financing instruments, including sovereign insurance. The paper discusses the optimal level of sovereign insurance. It argues that, because sovereign insurance is usually more expensive than post-disaster financing, it should mainly cover immediate needs, while long-term expenditures should be financed through post-disaster financing (including ex post borrowing and tax increases). In other words, sovereign insurance should not aim at financing the long-term resource gap, but only the short-term liquidity need.

Catastrophe Risk Financing in Developing Countries

J. David Cummins,Olivier Mahul
Catastrophe Risk Financing in Developing Countries Book PDF

Author : J. David Cummins,Olivier Mahul
Publisher : World Bank Publications
Page : 299 pages
File Size : 44,8 Mb
Release : 2009
Category : Political Science
ISBN : 9780821377369

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Catastrophe Risk Financing in Developing Countries by J. David Cummins,Olivier Mahul Pdf

'Catastrophe Risk Financing in Developing Countries' provides a detailed analysis of the imperfections and inefficiencies that impede the emergence of competitive catastrophe risk markets in developing countries. The book demonstrates how donors and international financial institutions can assist governments in middle- and low-income countries in promoting effective and affordable catastrophe risk financing solutions. The authors present guiding principles on how and when governments, with assistance from donors and international financial institutions, should intervene in catastrophe insurance markets. They also identify key activities to be undertaken by donors and institutions that would allow middle- and low-income countries to develop competitive and cost-effective catastrophe risk financing strategies at both the macro (government) and micro (household) levels. These principles and activities are expected to inform good practices and ensure desirable results in catastrophe insurance projects. 'Catastrophe Risk Financing in Developing Countries' offers valuable advice and guidelines to policy makers and insurance practitioners involved in the development of catastrophe insurance programs in developing countries.

Climate Change and Insurance

Eugene N. Gurenko
Climate Change and Insurance Book PDF

Author : Eugene N. Gurenko
Publisher : Routledge
Page : 137 pages
File Size : 48,8 Mb
Release : 2015-02-13
Category : Political Science
ISBN : 9781136535437

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Climate Change and Insurance by Eugene N. Gurenko Pdf

Climate change brings about a new set of major economic risks arising from changing weather patterns, extreme weather events and rising sea levels. Most at risk are developing countries who, despite considerable post-disaster donor aid, have been bearing the major brunt of disaster-related losses. One adaptation solution that is rapidly gaining the support of countries and international donors is a risk transfer to the global reinsurance and capital markets. This volume, a special issue of the journal Climate Policy, explores the role that insurance-based mechanisms can play in helping developing countries prepare for climate change. It offers a unique and comprehensive perspective on the potential role of insurance solutions in global adaptation to climate change and attempts to engender debate on the role of insurance in reducing global emissions and encouraging climate-friendly corporate behaviour.

Natural Disasters and Climate Change

Juan José Durante,Rafael Rosillo
Natural Disasters and Climate Change Book PDF

Author : Juan José Durante,Rafael Rosillo
Publisher : Springer Nature
Page : 69 pages
File Size : 47,9 Mb
Release : 2020-08-11
Category : Business & Economics
ISBN : 9783030437084

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Natural Disasters and Climate Change by Juan José Durante,Rafael Rosillo Pdf

This book presents a technical approach to promoting the development of disaster and climate change risk financing and transfer strategies, and discusses several practical issues, chiefly focusing on Latin America and the Caribbean. Innovative risk financing and insurance mechanisms are vital for governments around the world, in order to provide financial protection and reduce the economic costs and social and developmental impacts of natural disasters and climate change. The book’s main content is complemented by a wealth of graphics, diagrams and tables that illustrate the concepts discussed and make the text accessible for practitioners and non-practitioners alike. The book offers proven, creative and innovative ideas on how to tackle risk financing and management for natural disasters and climate change. Strategic topics such as sovereign disaster risk financing, property catastrophe risk insurance, and agricultural insurance are also discussed.

Dull Disasters?

Daniel Jonathan Clarke,Stefan Dercon
Dull Disasters Book PDF

Author : Daniel Jonathan Clarke,Stefan Dercon
Publisher : Oxford University Press
Page : 154 pages
File Size : 44,8 Mb
Release : 2016
Category : Nature
ISBN : 9780198785576

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Dull Disasters? by Daniel Jonathan Clarke,Stefan Dercon Pdf

Economic losses from disasters are now reaching an average of US$250--$300 billion a year. In the last 20 years, more than 530,000 people died as a direct result of extreme weather events; millions more were seriously injured. Most of the deaths and serious injuries were in developing countries. Meanwhile, highly infectious diseases will continue to emerge or re-emerge, and natural hazards will not disappear. But these extreme events do not need to turn into large-scale disasters. Better and faster responses are possible. The authors contend that even though there is much generosity in the world to support the responses to and recovery from natural disasters, the current funding model, based on mobilizing financial resources after disasters take place, is flawed and makes responses late, fragmented, unreliable, and poorly targeted, while providing poor incentives for preparedness or risk reduction. The way forward centres around reforming the funding model for disasters, moving towards plans with simple rules for early action and that are locked in before disasters through credible funding strategies while resisting the allure of post-disaster discretionary funding and the threat it poses for those seeking to ensure that disasters have a less severe impact. -- Provided by publisher.

Unbreakable

Stephane Hallegatte,Adrien Vogt-Schilb,Mook Bangalore,Julie Rozenberg
Unbreakable Book PDF

Author : Stephane Hallegatte,Adrien Vogt-Schilb,Mook Bangalore,Julie Rozenberg
Publisher : World Bank Publications
Page : 198 pages
File Size : 52,5 Mb
Release : 2016-11-24
Category : Nature
ISBN : 9781464810046

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Unbreakable by Stephane Hallegatte,Adrien Vogt-Schilb,Mook Bangalore,Julie Rozenberg Pdf

'Economic losses from natural disasters totaled $92 billion in 2015.' Such statements, all too commonplace, assess the severity of disasters by no other measure than the damage inflicted on buildings, infrastructure, and agricultural production. But $1 in losses does not mean the same thing to a rich person that it does to a poor person; the gravity of a $92 billion loss depends on who experiences it. By focusing on aggregate losses—the traditional approach to disaster risk—we restrict our consideration to how disasters affect those wealthy enough to have assets to lose in the first place, and largely ignore the plight of poor people. This report moves beyond asset and production losses and shifts its attention to how natural disasters affect people’s well-being. Disasters are far greater threats to well-being than traditional estimates suggest. This approach provides a more nuanced view of natural disasters than usual reporting, and a perspective that takes fuller account of poor people’s vulnerabilities. Poor people suffer only a fraction of economic losses caused by disasters, but they bear the brunt of their consequences. Understanding the disproportionate vulnerability of poor people also makes the case for setting new intervention priorities to lessen the impact of natural disasters on the world’s poor, such as expanding financial inclusion, disaster risk and health insurance, social protection and adaptive safety nets, contingent finance and reserve funds, and universal access to early warning systems. Efforts to reduce disaster risk and poverty go hand in hand. Because disasters impoverish so many, disaster risk management is inseparable from poverty reduction policy, and vice versa. As climate change magnifies natural hazards, and because protection infrastructure alone cannot eliminate risk, a more resilient population has never been more critical to breaking the cycle of disaster-induced poverty.

Government Support to Agricultural Insurance

Olivier Mahul,Charles J. Stutley
Government Support to Agricultural Insurance Book PDF

Author : Olivier Mahul,Charles J. Stutley
Publisher : World Bank Publications
Page : 246 pages
File Size : 40,9 Mb
Release : 2010-03-08
Category : Business & Economics
ISBN : 0821382195

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Government Support to Agricultural Insurance by Olivier Mahul,Charles J. Stutley Pdf

Governments in developing countries have been increasingly involved in the support of agricultural (crop and livestock) insurance programs in recent years. In their attempts to design and implement agricultural insurance, they have sought technical and financial assistance from the international community and particularly from the World Bank. One of the recurrent requests from governments regards international experience with agricultural insurance, not only in developed countries, where in some cases agricultural insurance has been offered for more than a century, but also in middleand low-income countries. Governments are particularly interested in the technical, operational, financial, and institutional aspects of public support to agricultural insurance. 'Government Support to Agricultural Insurance' informs public and private decision makers involved in agricultural insurance about recent developments, with a particular focus on middle- and low-income countries. It presents an updated picture of the spectrum of institutional frameworks and experiences with agricultural insurance, ranging from countries in which the public sector provides no support to those in which governments heavily subsidize agricultural insurance. This analysis is based on a survey conducted by the World Bank s agricultural insurance team in 2008 in 65 developed and developing countries. Drawing on the survey results, the book identifies some key roles governments can play to support the development of sustainable, affordable, and cost-effective agricultural insurance programs.

Financial Management of Flood Risk

OECD
Financial Management of Flood Risk Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 136 pages
File Size : 43,8 Mb
Release : 2016-07-29
Category : Electronic
ISBN : 9789264257689

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Financial Management of Flood Risk by OECD Pdf

Disasters present a broad range of human, social, financial, economic and environmental impacts, with potentially long-lasting effects. This report applies the lessons from the OECD’s analysis of disaster risk financing practices and its risk guidance to the specific case of floods.

Loss and Damage from Climate Change

Reinhard Mechler,Laurens M. Bouwer,Thomas Schinko,Swenja Surminski,JoAnne Linnerooth-Bayer
Loss and Damage from Climate Change Book PDF

Author : Reinhard Mechler,Laurens M. Bouwer,Thomas Schinko,Swenja Surminski,JoAnne Linnerooth-Bayer
Publisher : Springer
Page : 557 pages
File Size : 44,9 Mb
Release : 2018-11-28
Category : Science
ISBN : 9783319720265

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Loss and Damage from Climate Change by Reinhard Mechler,Laurens M. Bouwer,Thomas Schinko,Swenja Surminski,JoAnne Linnerooth-Bayer Pdf

This book provides an authoritative insight on the Loss and Damage discourse by highlighting state-of-the-art research and policy linked to this discourse and articulating its multiple concepts, principles and methods. Written by leading researchers and practitioners, it identifies practical and evidence-based policy options to inform the discourse and climate negotiations. With climate-related risks on the rise and impacts being felt around the globe has come the recognition that climate mitigation and adaptation may not be enough to manage the effects from anthropogenic climate change. This recognition led to the creation of the Warsaw International Mechanism on Loss and Damage in 2013, a climate policy mechanism dedicated to dealing with climate-related effects in highly vulnerable countries that face severe constraints and limits to adaptation. Endorsed in 2015 by the Paris Agreement and effectively considered a third pillar of international climate policy, debate and research on Loss and Damage continues to gain enormous traction. Yet, concepts, methods and tools as well as directions for policy and implementation have remained contested and vague. Suitable for researchers, policy-advisors, practitioners and the interested public, the book furthermore: • discusses the political, legal, economic and institutional dimensions of the issue• highlights normative questions central to the discourse • provides a focus on climate risks and climate risk management. • presents salient case studies from around the world.

Lifelines

Stephane Hallegatte,Jun Rentschler,Julie Rozenberg
Lifelines Book PDF

Author : Stephane Hallegatte,Jun Rentschler,Julie Rozenberg
Publisher : World Bank Publications
Page : 220 pages
File Size : 55,9 Mb
Release : 2019-07-16
Category : Business & Economics
ISBN : 9781464814310

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Lifelines by Stephane Hallegatte,Jun Rentschler,Julie Rozenberg Pdf

Infrastructure—electricity, telecommunications, roads, water, and sanitation—are central to people’s lives. Without it, they cannot make a living, stay healthy, and maintain a good quality of life. Access to basic infrastructure is also a key driver of economic development. This report lays out a framework for understanding infrastructure resilience - the ability of infrastructure systems to function and meet users’ needs during and after a natural hazard. It focuses on four infrastructure systems that are essential to economic activity and people’s well-being: power systems, including the generation, transmission, and distribution of electricity; water and sanitation—especially water utilities; transport systems—multiple modes such as road, rail, waterway, and airports, and multiple scales, including urban transit and rural access; and telecommunications, including telephone and Internet connections.

Natural Hazards, UnNatural Disasters

World Bank,United Nations
Natural Hazards UnNatural Disasters Book PDF

Author : World Bank,United Nations
Publisher : World Bank Publications
Page : 276 pages
File Size : 55,8 Mb
Release : 2010-11-10
Category : Social Science
ISBN : 9780821381410

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Natural Hazards, UnNatural Disasters by World Bank,United Nations Pdf

This book examines how to ensure that the preventive measures are worthwhile and effective, and how people can make decisions individually and collectively at different levels of government.

Strengthening Disaster Risk Governance to Manage Disaster Risk

Jose Manuel Mendes,Gretchen Kalonji,Rohit Jigyasu,Alice Chang-Richards
Strengthening Disaster Risk Governance to Manage Disaster Risk Book PDF

Author : Jose Manuel Mendes,Gretchen Kalonji,Rohit Jigyasu,Alice Chang-Richards
Publisher : Elsevier
Page : 164 pages
File Size : 48,7 Mb
Release : 2021-01-11
Category : Science
ISBN : 9780128187517

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Strengthening Disaster Risk Governance to Manage Disaster Risk by Jose Manuel Mendes,Gretchen Kalonji,Rohit Jigyasu,Alice Chang-Richards Pdf

Strengthening Disaster Risk Governance to Manage Disaster Risk presents the second principle from the UNISDR Sendai Framework for Disaster Risk Reduction, 2015-2030. The framework includes discussion of risk and resilience from both a theoretical and governance perspective in light of the ideas that are shaping our common future and presents innovative tools and best practices in reducing risk and building resilience. Combining the applications of social, financial, technological, design, engineering and nature-based approaches, the volume addresses rising global priorities and focuses on strengthening the global understanding of risk governance practices, initiatives and trends. Focusing on disaster risk governance at the national, regional, and global levels, it presents both historic and contemporary issues, asking researchers and governments how they can use technological advances, risk and resilience metrics and modeling, business continuity practices, and past experiences to understand the disaster recovery process and manage risk. Follows the global frameworks for disaster risk reduction and sustainability, specifically the UNISDR Sendai Framework for DRR, 2015-2030 Addresses lessons learned and future paths in disaster risk governance models Integrates public and private interests in risk governance Presents methodologies dealing with risk uncertainty, ambiguity and complexity

Natural Disasters and Individual Behaviour in Developing Countries

Oliver Fiala
Natural Disasters and Individual Behaviour in Developing Countries Book PDF

Author : Oliver Fiala
Publisher : Springer
Page : 195 pages
File Size : 51,9 Mb
Release : 2017-04-04
Category : Business & Economics
ISBN : 9783319539041

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Natural Disasters and Individual Behaviour in Developing Countries by Oliver Fiala Pdf

This study investigates the complex link between natural disasters, individual behaviour – in the form of an individual’s risk-taking propensity and level of trust – and the demand for microinsurance. Developing countries are particularly vulnerable to the impacts of natural hazards and climate change as they affect their development processes and set back poverty reduction efforts. Using a unique data set for rural Cambodia based on a survey, experimental games and a discrete choice experiment, the study highlights the importance of perceptions, expectations and psychological factors in decision-making processes with substantial consequences for long-term economic perspectives and poverty alleviation.

Coping with Disaster Risk Management in Northeast Asia

Gregory Coutaz
Coping with Disaster Risk Management in Northeast Asia Book PDF

Author : Gregory Coutaz
Publisher : Emerald Group Publishing
Page : 184 pages
File Size : 42,6 Mb
Release : 2018-10-31
Category : Business & Economics
ISBN : 9781787430938

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Coping with Disaster Risk Management in Northeast Asia by Gregory Coutaz Pdf

This book analyzes the diversity of national disaster risk governance across Northeast Asia by comparing the national disaster management plans implemented by the governments of China, Taiwan, Japan and South Korea. It also provides an overview of the financial protection measures employed by these jurisdictions to insure against losses.