Compulsory Earthquake Insurance Awareness - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Compulsory Earthquake Insurance Awareness write by Istanbul (Turkey). İl Afet ve Acil Durum Müdürlüğü. This book was released on 2009. Compulsory Earthquake Insurance Awareness available in PDF, EPUB and Kindle.
Earthquake Insurance in Turkey
Earthquake Insurance in Turkey - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Earthquake Insurance in Turkey write by Eugene Gurenko. This book was released on 2006. Earthquake Insurance in Turkey available in PDF, EPUB and Kindle. This publication, Earthquake insurance in Turkey, is an exposition of the dangers faced by Turkey as it is located in one of the most active earthquake (EQ) and volcanic regions in the world on the one hand, and, on the other hand, the efforts that Turkey is making to alleviate the social and fiscal disasters that are caused when these calamities do strike. The persistent potential for large-scale disasters has led to the establishment of the Turkish Catastrophe Insurance Pool (TCIP) in 1999. The main rationale for the creation of TCIP was a very low level of catastrophe insurance penetration among households. The authors stress that the four principal objectives of the program are to (1) provide earthquake insurance coverage at affordable but actuarially sound rates for all registered urban dwellings, (2) limit the government's financial exposure to natural disasters, (3) build long-term catastrophe reserves to finance future earthquake losses, and (4) encourage risk reduction and mitigation practices in residential construction. The book points out that the program has reduced significantly the government's fiscal exposure to EQ risk. In five years, the TCIP transformed itself from an unknown and controversial government-sponsored program to one of the most trusted brand names in the Turkish insurance industry. Moreover, it has led the World Bank to rethink the roles of ex-ante risk management relative to ex-post donor support. In this context, the World Bank supported Turkey's earthquake insurance program to establish and expand national catastrophic risk management and risk transfer capabilities. The authors conclude that the TCIP's success has brought it worldwide recognition. Inspired by the TCIP's example, more than a dozen countries, including China, Colombia, Greece, India, the Islamic Republic of Iran, Italy, the Philippines, Romania, and nine island states of the Caribbean have begun technical and legislative preparation of catastrophe insurance programs.
Risk Awareness and Adverse Selection in Catastrophe Insurance
Risk Awareness and Adverse Selection in Catastrophe Insurance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Risk Awareness and Adverse Selection in Catastrophe Insurance write by Xiao Lin. This book was released on 2019. Risk Awareness and Adverse Selection in Catastrophe Insurance available in PDF, EPUB and Kindle. How does catastrophe-risk awareness affect selection patterns in catastrophe insurance markets? Catastrophe insurance is often provided by government entities and frequently involves substantial cross-subsidization between people facing very different levels of risk, which could generate adverse selection problems. Yet there is also ample evidence that people have low understanding and awareness of catastrophe risk, which could prevent people from exploiting their informational advantage. I study this issue using data on take-up rates of earthquake insurance in California, where there is both a semi-public insurer using very coarse geographic risk classification and private insurers who price at a finer level. I find that within the same rating territory, there is a positive correlation between risk and take-up for insurance, suggesting that people have some meaningful awareness of their risk and act on it in ways consistent with adverse selection. However, despite substantially different risk-classification schemes, the positive correlation is similar for both the public and private insurers. This suggests that while awareness of risk is linked to the decision to purchase insurance, people are not basing their insurance decisions on comparisons of risk and insurance prices in a way that would lead to stronger adverse selection when rates are cross subsidized.
Earthquake Insurance
Earthquake Insurance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Earthquake Insurance write by . This book was released on 1987. Earthquake Insurance available in PDF, EPUB and Kindle.
Paying the Price
Paying the Price - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Paying the Price write by Richard J. Roth, Sr.. This book was released on 1998-07-09. Paying the Price available in PDF, EPUB and Kindle. This book considers the effectiveness of insurance coverage for low-probability, high-consequence events such as natural disastersâ€"and how insurance programs can successfully be used with other policy tools, such as building codes and standards, to encourage effective loss reduction measures. The authors discuss the reasons for the dramatic increase in insured losses from natural disasters since 1989 and the concern that insurers have about their ability to provide coverage against more such events in the future. It addresses why there has been an increasing demand for hazards insurance, what types of coverage private insurers are willing to offer, and the role of reinsurance and private-/public-sector initiatives at the state and federal levels for providing protection to victims of natural disasters. Detailed case studies of the challenges facing Florida in the wake of Hurricane Andrew in 1992 and California following the Northridge earthquake in 1994 reveal the challenges facing the insurance industry as well as other concerned stakeholders. The National Flood Insurance Program illustrates how a public-/private-sector partnership can mitigate damages and provide financial protection to victims. The book identifies new initiatives for reducing future losses and providing funds for recovery through cooperation by the relevant parties.
