Publication: Catastrophe Risk Financing in Developing Countries : Principles for Public Intervention
Date
2009
ISSN
Published
2009
Author(s)
Cummins, J. David
Mahul, Olivier
Abstract
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.
Link to Data Set
Citation
“Cummins, J. David; Mahul, Olivier. 2009. Catastrophe Risk Financing in Developing Countries : Principles for Public Intervention. © Washington, DC: World Bank. http://hdl.handle.net/10986/6289 License: CC BY 3.0 IGO.”