Publication: Managing Catastrophic Disaster Risks Using Alternative Risk financing and Pooled Insurance Structures
Date
2001-05
ISSN
Published
2001-05
Author(s)
Abstract
This report examines the constraints and
opportunities in implementing a catastrophe insurance system
which can resolve the key obstacles impeding broader
implementation of a risk funding approach. The four main
pillars in such a strategy involve: 1) strengthening
insurance sector regulatory requirements and supervision; 2)
establishing broad-based pooled catastrophe funding
structures with efficient risk transfer tools; 3) promoting
public insurance policies linked to programs for loss
reduction in the uninsured sectors; and 4) strengthening the
risk assessment and enforcement of structural measures such
as zoning and building code compliance. The report is
structured as follows: chapter 1 examines the
characteristics of the global insurance and reinsurance
market and its links with Caribbean insurers and
policyholders Chapter 2 examines the domestic Caribbean
insurance market structure and institutions, and their
commercial practices Chapter 3 discusses how structural
mitigation and vulnerability reduction measures can prove to
be cost-effective investments that can dramatically reduce
exposure risks on properties. Chapter 4 analyzes the
modalities of risk transfer for potential financial losses.
Chapter 5 demonstrates innovations being developed for
catastrophe risk management. Chapter 6 examines risk
management options. Chapter 7 concludes by demonstrating the
financial feasibility and sustainability of operating and
managing catastrophe risks under a sub-regional pool.
Citation
“Pollner, John D.. 2001. Managing Catastrophic Disaster
Risks Using Alternative Risk financing and Pooled Insurance Structures. World Bank Technical Paper ; No. 495. © http://openknowledge.worldbank.org/entities/publication/8455615d-9f9d-5ef4-a330-3b305eed555b License: CC BY 3.0 IGO.”