Publication:
Financial and Fiscal Instruments for Catastrophe Risk Management : Addressing Losses from Flood Hazards in Central Europe

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dc.contributor.authorPollner, John
dc.date.accessioned2012-07-31T14:52:21Z
dc.date.available2012-07-31T14:52:21Z
dc.date.issued2012-07-05
dc.description.abstractThis report addresses the large flood exposures of Central Europe and proposes efficient financial and risk transfer mechanisms to mitigate fiscal losses from natural catastrophes. In particular, the Visegrad countries (V-4) of Central Europe, namely, Poland, the Czech Republic, Hungary, and the Slovak Republic, have such tremendous potential flood damages that reliance on budgetary appropriations or even European Union (EU) funds in such circumstances becomes ineffective and does not provide needed cash funds for the quick response and recovery needed to minimize economic disruptions. The report is primarily addressed to the governments of the region, which should build into their fiscal planning the necessary contingent funding mechanisms, based on their exposures. The report is addressed to finance ministries and also to the insurance and securities regulators and the private insurance and capital markets, which may all play a role in the proposed mechanisms. An arrangement using a multi-country pool with a hazard-triggered insurance payout mechanism complemented by contingent financing is proposed, to better manage these risks and avoid major fiscal volatility and disruption.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/07/16489253/financial-fiscal-instruments-catastrophe-risk-management-addressing-losses-flood-hazards-central-europe
dc.identifier.doi10.1596/978-0-8213-9579-0
dc.identifier.isbn978-0-8213-9579-0
dc.identifier.urihttps://hdl.handle.net/10986/9381
dc.languageEnglish
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Study
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCESS TO CAPITAL
dc.subjectACCESS TO LOANS
dc.subjectALTERNATIVE FUNDING
dc.subjectAMORTIZATION
dc.subjectAMOUNT OF RISK
dc.subjectASSET PORTFOLIO
dc.subjectASSET VALUES
dc.subjectBASIS RISK
dc.subjectBENEFICIARY
dc.subjectBOND FINANCING
dc.subjectBOND FUND
dc.subjectBOND INSTRUMENT
dc.subjectBOND INSURANCE
dc.subjectBOND INVESTOR
dc.subjectBOND ISSUER
dc.subjectBOND RATING
dc.subjectBOND RETURN
dc.subjectBOND SPREAD
dc.subjectBOND SPREADS
dc.subjectBOND YIELD
dc.subjectBONDHOLDER
dc.subjectBONDHOLDERS
dc.subjectBROKER
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCASH FLOW
dc.subjectCATASTROPHE BOND
dc.subjectCATASTROPHE BONDS
dc.subjectCATASTROPHE COVERAGE
dc.subjectCATASTROPHE INSURANCE
dc.subjectCATASTROPHE REINSURANCE
dc.subjectCATASTROPHES
dc.subjectCATASTROPHIC EVENT
dc.subjectCATASTROPHIC EVENTS
dc.subjectCATASTROPHIC LOSS
dc.subjectCATASTROPHIC LOSSES
dc.subjectCATASTROPHIC RISKS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL GOVERNMENTS
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCOMMERCIAL BANKS
dc.subjectCONTINGENT DEBT
dc.subjectCONTRACT DESIGN
dc.subjectCOUNTRY RISK
dc.subjectCOUNTRY RISKS
dc.subjectCOUPON
dc.subjectCOUPON INTEREST RATE
dc.subjectCOVERAGE
dc.subjectCRED
dc.subjectCREDIT GUARANTEES
dc.subjectCREDIT QUALITY
dc.subjectCREDIT RISK
dc.subjectCREDITORS
dc.subjectCROP LOSSES
dc.subjectCURRENCY
dc.subjectDAMAGE ASSESSMENTS
dc.subjectDEBT
dc.subjectDEBT FINANCING
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT LEVELS
dc.subjectDEBT SECURITY
dc.subjectDEFAULT RISK
dc.subjectDISASTER EVENT
dc.subjectDISASTER EVENTS
dc.subjectDISASTER FINANCING
dc.subjectDISASTER MANAGEMENT
dc.subjectDISASTER RECONSTRUCTION
dc.subjectDISASTER RESPONSE
dc.subjectDISASTER RISK
dc.subjectDROUGHTS
dc.subjectEARTHQUAKE
dc.subjectEARTHQUAKES
dc.subjectEPIDEMIOLOGY
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPLOSION
dc.subjectEXTREME TEMPERATURES
dc.subjectFEASIBILITY
dc.subjectFINANCE MINISTRIES
dc.subjectFINANCIAL COMPENSATION
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTRUMENT
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL MECHANISMS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL STRUCTURE
dc.subjectFINANCING SOURCES
dc.subjectFIRE
dc.subjectFISCAL DEFICITS
dc.subjectFLOOD
dc.subjectFLOOD DAMAGES
dc.subjectFLOOD INSURANCE
dc.subjectFLOODING
dc.subjectFLOODS
dc.subjectGOVERNMENT ASSETS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectGOVERNMENT SUPPORT
dc.subjectGRACE PERIOD
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGUARANTEE FEE
dc.subjectHEAVY RAIN
dc.subjectHOUSING
dc.subjectHURRICANE
dc.subjectHURRICANES
dc.subjectIMPACT OF DISASTERS
dc.subjectINCOME
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINDEBTEDNESS
dc.subjectINDEMNITY
dc.subjectINDEMNITY INSURANCE
dc.subjectINFORMATION SYSTEM
dc.subjectINFORMATION SYSTEMS
dc.subjectINFORMED DECISIONS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE CONTRACT
dc.subjectINSURANCE COVERAGE
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE INSTRUMENTS
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE MARKETS
dc.subjectINSURANCE MECHANISMS
dc.subjectINSURANCE PAYOUT
dc.subjectINSURANCE PENETRATION
dc.subjectINSURANCE POLICIES
dc.subjectINSURANCE PREMIUM
dc.subjectINSURANCE PREMIUMS
dc.subjectINSURANCE RESERVES
dc.subjectINSURANCE RISK
dc.subjectINSURANCE SECTOR
dc.subjectINSURED LOSSES
dc.subjectINSURER
dc.subjectINSURERS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE SPREAD
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINVENTORY
dc.subjectINVESTING
dc.subjectISSUANCE
dc.subjectLANDSLIDES
dc.subjectLEGAL PROVISIONS
dc.subjectLEVEL OF RISK
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN BALANCE
dc.subjectMARKET COMPETITION
dc.subjectMARKET INFORMATION
dc.subjectMARKET INSTRUMENT
dc.subjectMARKET INSTRUMENTS
dc.subjectMARKET PRICING
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMATURITY PERIOD
dc.subjectMINISTRIES OF FINANCE
dc.subjectNATURAL CATASTROPHES
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectOUTPUT DECLINES
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO DIVERSIFICATION
dc.subjectPORTFOLIOS
dc.subjectPREMIUM PAYMENT
dc.subjectPREMIUM PAYMENTS
dc.subjectPRINCIPAL REPAYMENT
dc.subjectPRIVATE COMMERCIAL BANKS
dc.subjectPRIVATE INSURANCE
dc.subjectPRIVATE PARTY
dc.subjectPRIVATE PROPERTY
dc.subjectPROBABILITY OF DEFAULT
dc.subjectPUBLIC BUDGETS
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC SECTOR DEFICITS
dc.subjectPURCHASING POWER
dc.subjectRATE OF RETURN
dc.subjectREINSURANCE
dc.subjectREINSURANCE BROKER
dc.subjectREINSURANCE CONTRACTS
dc.subjectREINSURERS
dc.subjectREPAYMENTS
dc.subjectRESERVE
dc.subjectRESERVE FUNDS
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK ANALYSIS
dc.subjectRISK ASSESSMENT
dc.subjectRISK EXPOSURE
dc.subjectRISK EXPOSURES
dc.subjectRISK FACTORS
dc.subjectRISK INSURANCE
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT TOOLS
dc.subjectRISK MANAGERS
dc.subjectRISK POOLING
dc.subjectRISK PREMIUM
dc.subjectRISK TRANSFER
dc.subjectSAVINGS
dc.subjectSCENARIOS
dc.subjectSECURITIES
dc.subjectSHORT-TERM LIQUIDITY
dc.subjectSOVEREIGN ENTITIES
dc.subjectSTATISTICAL ANALYSIS
dc.subjectSTORM
dc.subjectSTORMS
dc.subjectSUBSIDIARIES
dc.subjectSUSTAINABILITY
dc.subjectSWAP
dc.subjectSWAPS
dc.subjectTRANSACTION
dc.subjectTROPICAL CYCLONE
dc.subjectTYPE OF DISASTER
dc.subjectUNDERWRITING
dc.subjectWEATHER DERIVATIVES
dc.subjectWEATHER EVENTS
dc.subjectWIND STORMS
dc.titleFinancial and Fiscal Instruments for Catastrophe Risk Management : Addressing Losses from Flood Hazards in Central Europeen
dspace.entity.typePublication
okr.crosscuttingsolutionareaClimate Change
okr.date.disclosure2012-07-09
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2012/07/16489253/financial-fiscal-instruments-catastrophe-risk-management-addressing-losses-flood-hazards-central-europe
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.guid606461468147541359
okr.identifier.doi10.1596/978-0-8213-9579-0
okr.identifier.externaldocumentum000333037_20120711001109
okr.identifier.internaldocumentum16489253
okr.identifier.report70911
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/07/11/000333037_20120711001109/Rendered/PDF/709110PUB0EPI0067869B09780821395790.pdfen
okr.region.geographicalCentral Europe
okr.topicInsurance and Risk Mitigation
okr.topicUrban Development::Hazard Risk Management
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.unitFinancial Sector 2 (ECSF2)
okr.volume1 of 1
relation.isAuthorOfPublicationb0f82774-24d9-5275-98e8-aae3f2ccab7e
relation.isAuthorOfPublication.latestForDiscoveryb0f82774-24d9-5275-98e8-aae3f2ccab7e
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