Catastrophe Risk Financing in Developing Countries : Principles for Public Intervention

Cummins, J. David; Mahul, Olivier

Catastrophe Risk Financing in Developing Countries : Principles for Public Intervention

2009

Cummins, J. David | Mahul, Olivier

Public intervention in catastrophe insurance markets, supported by the donor community and the World Bank, should be country specific. Low-income countries, where the domestic non-life insurance market is undeveloped, should focus in the short term on the development of sovereign catastrophe insurance solutions and the promotion of public goods related to risk market infrastructure. These countries are usually not mature enough for the promotion of catastrophe insurance pools for private homeowners. Middle-income countries, where the domestic non-life insurance market is more developed, should help the private insurance industry offer market-based catastrophe insurance solutions to homeowners and to small and medium enterprises, including the agricultural sector. This book offers a framework, with lessons drawn from recent experience, guiding principles for public intervention and potential roles for donors and International Financial Institutions (IFIs). These lessons are expected to be used in developing affordable, effective and sustainable country-specific catastrophe insurance programs.

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agents agricultural insurance assets capital market climate change commodities consumers crop insurance debt developing countries disaster prevention disaster recovery disaster relief disaster risk reduction disasters drought early warning systems earthquakes emergency preparedness extreme weather events farmer farmers financial institutions gross domestic product hurricanes income industrial countries insurance jurisdiction laws liquidity market structure microfinance mitigation natural disasters negotiation public-private partnerships relief risk assessment risk management risk mitigation risk reduction risk transfer safety sustainability sustainable development transaction costs underwriting volatility volcanoes

Información bibliográfica

Editorial

Washington, DC: World Bank

Otras materias

Basis risk; Damages; Reinsurer; Disaster response; Business opportunities; Securities market; Insurance coverage; Copyright clearance; Crop insurance scheme; Regulatory frameworks; Excess of loss reinsurance; Political regimes; Primary insurers; Option contract; Insurance risk; Rates; Early warning; Disaster reconstruction; Insurance premium; Indemnities; Risk management system; Captive insurance; Regulatory impediments; Private insurance; Reinsurance premiums; Capital asset; Bond; Reserve fund; Insurance policy; Catastrophic event; Portfolios; Portfolio diversification; Relief efforts; Financial sector; Capital stock; Centre for research on the epidemiology; Compulsory insurance; Credit quality; Portfolio; Indemnity; Moral hazard; Diversification benefits; Earthquake insurance; Market infrastructure; Cost of capital; Primary insurer; Natural disaster; Securities markets; Capital asset pricing; Reserves; Private sector development; Flood; Finance corporation; Critical infrastructure; Mitigation measures; Insurance market; Reinsurance markets; Financial products; Loss ratio; Safety net; Indemnity insurance; Capital requirements; Economic integrations; Reinsurance companies; Securities; Financing arrangements; Copyright clearance center; Insurance benefits; Financial infrastructure; Financial instruments; Insured losses; Technical assistance; Financial instrument; Meteorological organization; Insurance buyers; Impact of disasters; Insurance products; Reinsurance capacity; Disaster-prone country; International finance; Disaster risk; Property insurance; Programs; Disaster mitigation; Floods; Droughts; Corporate bonds; Premiums; Catastrophe reinsurance; Exposure to risk; Facultative reinsurance; Financial risk; Extreme weather; Regulatory requirements; Insurance industries; Equity capital; Catastrophe fund; Information flows; Financial product; Economic risk; Risk profiles; Startup; Private investments; Disaster; Earthquake; Bond market; Contingent liability; Adverse selection; Reinsurance broker; Financial system; Disaster reduction; Insect infestation; Financial services; Incomes; Public-private partnership; Catastrophes; Emergency response; Global market; Advanced economies; Global markets; Insurance policies; Middle-income countries; Reinsurers; Insurance industry; Dat database; Extreme events; Building codes; Country development; Net premiums written; Bonds; Policyholders; World trade; Coverage; Risk exposure; Risk insurance; Solvency; Debt service; Financial intermediaries; Cred; Institutional capacities; Low-income countries; Insurance pools; Risk reductions; Insurance companies; Risk diversification; Insurance agents; Emergency communication systems; Public insurance; Insurance contract; Non-life insurance; Insurance markets; Systemic risk; Financial institution; Insurance company; Tax; Development network; Risk exposures; Brokers; Disaster-prone countries; Disaster assistance; Capital markets; Hurricane; Scientific organizations; Insurance contracts

Licencia

http://hdl.handle.net/10986/6289http://creativecommons.org/licenses/by/3.0/igo/World BankCreative Commons Attribution CC BY 3.0.

ISSN

8213-7736

En AGRIS desde: 2014-09-15

Formato: AGRIS AP

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http://hdl.handle.net/10986/6289

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Catastrophe Risk Financing in Developing Countries : Principles for Public Intervention

2009

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