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Catastrophe Risk Financing In Developing Countries
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Book Synopsis Catastrophe Risk Financing in Developing Countries by : J. David Cummins
Download or read book Catastrophe Risk Financing in Developing Countries written by J. David Cummins and published by World Bank Publications. This book was released on 2009 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: '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.
Book Synopsis Sovereign Natural Disaster Insurance for Developing Countries: A Paradigm Shift in Catastrophe Risk Financing by : Francis Ghesquiere
Download or read book Sovereign Natural Disaster Insurance for Developing Countries: A Paradigm Shift in Catastrophe Risk Financing written by Francis Ghesquiere and published by World Bank Publications. This book was released on 2007 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: 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.
Book Synopsis Sovereign Natural Disaster Insurance for Developing Countries: A Paradigm Shift in Catastrophe Risk Financing by : Francis Ghesquiere
Download or read book Sovereign Natural Disaster Insurance for Developing Countries: A Paradigm Shift in Catastrophe Risk Financing written by Francis Ghesquiere and published by World Bank Publications. This book was released on 2012 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Climate Change and Insurance by : Eugene N. Gurenko
Download or read book Climate Change and Insurance written by Eugene N. Gurenko and published by Routledge. This book was released on 2015-02-13 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Sovereign Natural Disaster Insurance for Developing Countries by : Olivier Mahul
Download or read book Sovereign Natural Disaster Insurance for Developing Countries written by Olivier Mahul and published by . This book was released on 2016 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Climate Change and Insurance by : Eugene N. Gurenko
Download or read book Climate Change and Insurance written by Eugene N. Gurenko and published by Routledge. This book was released on 2015-02-13 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Catastrophe Risk Management by : John D. Pollner
Download or read book Catastrophe Risk Management written by John D. Pollner and published by World Bank Publications. This book was released on 2001 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: In providing support for disaster-prone areas such as the Caribbean, the development community has begun to progress from disaster reconstruction assistance to funding for investment in mitigation as an explicit tool for sustainable development. Now it must enter a new phase, applying risk transfer mechanisms to address the financial risk of exposure to catastrophic events that require funding beyond what can be controlled solely through mitigation and physical measures.
Book Synopsis Assessing the Enabling Environment for Disaster Risk Financing by : Asian Development Bank
Download or read book Assessing the Enabling Environment for Disaster Risk Financing written by Asian Development Bank and published by Asian Development Bank. This book was released on 2020-06-01 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disasters damage and destroy infrastructure and disrupt economic activities and services, potentially delaying long-term development and hampering efforts to reduce poverty in the region. Countries require a strong enabling environment for disaster risk financing to ensure the timely availability of post-disaster funding. This report presents a comprehensive diagnostics tool kit that countries can apply to assess the financial management of disaster risk. The framework examines the state of the enabling environment and provides a basis to enhance financial resilience with insurance and other risk transfer instruments. It incorporates lessons from the country diagnostics assessments for Fiji, Nepal, Pakistan, and Sri Lanka that made use of the tool kit and methodology.
Book Synopsis Catastrophe Risk and Reinsurance by : Eugene N. Gurenko
Download or read book Catastrophe Risk and Reinsurance written by Eugene N. Gurenko and published by World Bank Publications. This book was released on 2004 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Including the latest invaluable insights into catastrophe reinsurance, this book provides you with a wealth of risk management expertise gained from many of the largest catastrophe risk transfer programmes worldwide.
Book Synopsis The Macro Financing of Natural Hazards in Developing Countries by : Olivier Mahul
Download or read book The Macro Financing of Natural Hazards in Developing Countries written by Olivier Mahul and published by World Bank Publications. This book was released on with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors propose a financial model to address the design of efficient risk financing strategies against natural disasters at the country level. It is simple enough to shed analytical light on some of the key issues but flexible and realistic enough to provide some quantitative guidance on the ex ante financing of catastrophic losses. The risk financing problem is decomposed into two steps. First, the resource gap, defined as the difference between losses and available ex-post resources (such as post-disaster aid), is identified. It determines the losses to be financed by ex ante financial instruments (reserves, catastrophe insurance, and contingent debt). Second, the cost-minimizing financial arrangements are derived from the marginal costs of the financial instruments. The model is solved through a series of graphical analyses that make this complex financial problem easier to apprehend. This model captures and explains the main impacts of financial parameters (such as insurance premium, cost of capital) on efficient risk financing structures.
Book Synopsis Managing Disaster Risk in Emerging Economies by : Alcira Kreimer
Download or read book Managing Disaster Risk in Emerging Economies written by Alcira Kreimer and published by World Bank Publications. This book was released on 2000-01-01 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1999 natural catastrophes and man-made disasters claimed more than 105,000 lives, 95 percent of them in the developing world, and caused economic losses of around US$100 billion. In 1998 the twin disasters of the Yangtze and Hurrican Mitch accounted for two-thirds of the US$65 billion loss. The geographical areas affected may vary, but one constant is that the per capita burden of catastrophic losses is dramatically higher in developing countries. To respond to an increased demand to assist disaster rcovery programmes, the World Bank set up the Disaster Management Facility in 1998, to help provide the Bank with a more rapid and strategic response to disaster emergencies. The DMF focuses on risk identification, risk reduction, and risk sharing/transfer, the three major topics in this volume. The DMF also promotes strategic alliances with key private, government, multilateral and nongovernmental organisations to ensure the inclusion of disaster risk reduction as a central value of development. The most important of these partnerships is the ProVention Consortium, launched in February 2000, based on the premise that we must all take responsibility for making the new millennium a safer one.
Book Synopsis Macroeconomic Risk Management Against Natural Disasters by : Stefan Hochrainer
Download or read book Macroeconomic Risk Management Against Natural Disasters written by Stefan Hochrainer and published by Springer Science & Business Media. This book was released on 2007-12-14 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stefan Hochrainer develops a catastrophe risk management model. It illustrates which trade-offs and choices a country must make in managing economic risks due to natural disasters. Budgetary resources are allocated to pre-disaster risk management strategies to reduce the probability of financing gaps. The framework and model approach allows cross country comparisons as well as the assessment of financial vulnerability, macroeconomic risk, and risk management strategies. Three case studies demonstrate its flexibility and coherent approach.
Book Synopsis Climate Change and Insurance by : EUGENE N. GURENKO
Download or read book Climate Change and Insurance written by EUGENE N. GURENKO and published by Routledge. This book was released on 2019-05-31 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Rapid Onset Natural Disasters by : Eugene Gurenko
Download or read book Rapid Onset Natural Disasters written by Eugene Gurenko and published by World Bank Publications. This book was released on 2004 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gurenko and Lester provide a conceptual framework for designing a comprehensive risk management strategy for rapid onset natural disasters at the country level, with a particular emphasis on the role of catastrophe loss funding. The authors discuss the key policy and technical issues involved in building financially sustainable catastrophe risk transfer and funding programs in disaster prone countries and their links to risk mitigation. They also deal with the cognitive and political economy issues that are likely to arise and ways to accommodate them. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to develop modern risk management approaches at the country level.
Book Synopsis Financing Disaster Risk Reduction in Asia and the Pacific by : Asian Development Bank
Download or read book Financing Disaster Risk Reduction in Asia and the Pacific written by Asian Development Bank and published by Asian Development Bank. This book was released on 2020-12-01 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disaster events impact Asia and the Pacific more than any other region in the world. In light of current and future climate and disaster risks, there is an urgent need to address the region’s underinvestment in disaster risk and reduction. This publication aims to guide policy makers and other stakeholders on how to scale up disaster risk reduction financing in developing member countries of the Asian Development Bank. It provides an overview of financing opportunities—including instruments and mechanisms—as well as country case studies and practical tips for governments to implement enhanced disaster risk reduction.
Book Synopsis Natural Disaster Risk Management and Financing Disaster Losses in Developing Countries by : Reinhard Mechler
Download or read book Natural Disaster Risk Management and Financing Disaster Losses in Developing Countries written by Reinhard Mechler and published by Verlag Versicherungswirtschaft. This book was released on 2004-04-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural disasters may cause large economic impacts and impede socioeconomic development in developing countries considerably. Increasingly, risk management, the management of disasters before the actual occurrence of events, is being advocated. Risk financing measures taken by national governments, such as insurance und reinsurance, are important components of a risk management strategy. Often developing countries are not able to finance the costs of relief and reconstruction by their own means and have to rely on the international donor community as their "reinsurer of last resort". The main objective of the book is to establish a platform to provide information on the costs caused by disasters and the costs and benefits of disaster risk management focusing on ex-ante risk financing measures taken governments in developing countries. The final objective is to provide insight into the specific conditions where risk financing may constitute an option that provides net benefits and increases social welfare. The modelling using a stochastic simulation approach incorporates probabilistic information on the direct losses due to natural disasters into a macroeconomic projection model. Outputs are macroeconomic flow impacts such as impacts on GPD. In order to analyze the costs and benefits due to undertaking risk management measures, a Cost-Benefit Analysis approach is employed using the mean-variance method. Two case studies are conducted on countries with different exposures to disaster risk and different economic vulnerabilities: Honduras and Argentina. A major insight derived from the case studies is that under certain conditions risk financing arrangements may decrease the vulnerability to natural hazards resulting in more robust development in developing economics.
Book Synopsis Disaster Risk Financing A global survey of practices and challenges by : OECD
Download or read book Disaster Risk Financing A global survey of practices and challenges written by OECD and published by OECD Publishing. This book was released on 2015-11-04 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the disaster risk assessment and financing practices of a broad range of economies. It draws on the G20/OECD Framework for Disaster Risk Assessment and Risk Financing and is based on a survey covering 29 economies.
