Catastrophe risk financing in developing countries : principles for public intervention /

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 insuran...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Cummins, J. David
Otros Autores: Mahul, Olivier
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : World Bank, ©2009.
Colección:World Bank e-Library.
Temas:
Finance, Public > Developing countries.
Natural disasters > Developing countries > Finance.
Risk (Insurance) > Developing countries.
Economic assistance > Developing countries.
BUSINESS & ECONOMICS > Public Finance.
Economic assistance
Finance, Public
Natural disasters > Finance
Risk (Insurance)
Developing countries
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Contents
  • Foreword
  • Acknowledgments
  • Abbreviations
  • Glossary
  • Overview
  • Toward a Country Catastrophe Risk Financing Framework
  • Why Should Donors Intervene in Catastrophe Risk Markets?
  • How Should Donors Intervene in Catastrophe Risk Markets?
  • What Roles for the Donor Community?
  • 1. Introduction
  • Cost of Natural Disasters in Developing Countries
  • Proactive Country Disaster Risk Management
  • Toward a Country Catastrophe Risk Financing Framework
  • Objectives
  • 2. Market Imperfections and Catastrophe Insurance
  • Basic Features of Catastrophe Insurance MarketsDemand-Driven Market Imperfections
  • Supply-Driven Market Imperfections
  • Are Prices of Catastrophe Risk Transfer Instruments Excessive?
  • Summary: Insurance Markets and Market Imperfections
  • Notes
  • 3. Principles for Public Intervention in the Catastrophe Insurance Markets
  • Risks of Public Intervention in Catastrophe Insurance Markets
  • Guiding Principles for Market Intervention
  • Notes
  • 4. Roles for the Donor Community
  • Convening Power
  • Promoter of Public Goods
  • Provider of Technical Assistance for Innovative Catastrophe Risk Financing SolutionsFinancier
  • References
  • Appendixes
  • Appendix 1. World Bank List of Economies
  • Appendix 2. Reference Catastrophe Losses
  • Appendix 3. Catastrophe Risk Modeling
  • Introduction: Using Modeling to Manage Risk
  • Methodology
  • Risk Metrics
  • Appendix 4. Catastrophe Risk Financing Projects Supported by the World Bank and Donors
  • Appendix 5. Some Recent Catastrophe Risk Financing Initiatives Supported by the World Bank and Donors
  • Property Catastrophe Insurance Programs for HomeownersAgricultural Insurance Programs
  • Sovereign Risk Financing
  • Notes
  • References
  • Appendix 6. Prototype Weather-Based Crop Insurance Policy
  • Appendix 7. Commercial Catastrophe Risk Models
  • Appendix 8. Review of the Catastrophe Reinsurance Market
  • Introduction
  • The Role of Reinsurance
  • The Global Market for Reinsurance
  • Insurance and Reinsurance Market Response to Mega-Catastrophes
  • Conclusion
  • Notes
  • References
  • Appendix 9. CAT Bonds and Other Risk-Linked Securities: State of the Market and Recent DevelopmentsIntroduction
  • The Structure of Risk-Linked Securities
  • The Risk-Linked Securities Market
  • Conclusion
  • Notes
  • References
  • Appendix 10. Catastrophe Reinsurance Pricing
  • Introduction
  • The Mean-Variance Model
  • A More Realistic Actuarial Model
  • Reinsurerâ€?s Target Economic Return
  • Numerical Illustration
  • Notes
  • References
  • Index
  • Boxes
  • Box 1.1 GFDRR Financial and Technical Assistance

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