Packard, Truman2012-08-132012-08-132004-01https://hdl.handle.net/10986/10369Individuals and societies can respond in a variety of ways when faced with the prospect of economic losses from shocks like natural disasters, sickness, sudden death, disability and unemployment. Social risk management is a conceptual framework encompassing three broad categories of response: prevention, mitigation, and coping. The comprehensive Insurance approach focuses on mitigation, offering a tool for determining which insurance instruments and preventive measures will be most effective given the size and frequency of various types of possible economic losses. This article explains the comprehensive insurance framework, and uses it to assess recent reforms in Chile's unemployment insurance system.CC BY 3.0 IGOACCIDENT INSURANCEADVERSE SELECTIONAGGREGATE DEMANDBANK POLICYCASH TRANSFERSCOST OF CAPITALDISASTER INSURANCEDISASTERSDRIVERSECONOMIC INSECURITYECONOMIC POLICIESEMPLOYMENT PROGRAMSFINDING WORKFIRM LEVELFISCAL POLICYGLOBAL ECONOMYGOVERNMENT FUNDINGHOUSEHOLD INCOMEHUMAN DEVELOPMENTIMPERFECT INFORMATIONINCOMEINCOME SECURITYINFORMAL SECTORINFORMAL SECTOR WORKERSINNOVATIONINSTRUMENTINSURANCEINSURANCE COVERAGEINSURANCE POOLSINSURANCE PREMIUMINSURANCE PREMIUMSINSURANCE SYSTEMINSURERSINVESTINGJOB LOSSJOB TURNOVERJOBSLABOR COSTSLABOR MARKETLABOR MARKETSMARKET EFFICIENCYMARKET INEFFICIENCIESMARKET SIZEMARKET TURNOVERMARKET WAGEMINIMUM WAGESMITIGATIONMONETARY POLICIESMORAL HAZARDNATURAL DISASTERSPAYROLL TAXPAYROLL TAXESPENSIONPENSION REFORMPOLITICAL ECONOMYPOOL OF FUNDSPRICE RISKPRIMARY SCHOOLPRIVATE MARKETPRIVATE SAVINGSPRIVATE SECTORPROGRAMSPUBLIC EMPLOYMENTPUBLIC SPENDINGRATESREFORM PROGRAMSREPLACEMENT RATESRETIREMENTRETIREMENT SAVINGSRISK MANAGEMENTRISK POOLINGSAFETYSAVINGSSAVINGS ACCOUNTSSHORT-TERM UNEMPLOYMENTSMALL BUSINESSSOCIAL ASSISTANCESOCIAL FUNDSSOCIAL PROTECTIONSOCIAL RISKSOCIAL RISK MANAGEMENTTAX RATESUNEMPLOYEDUNEMPLOYED WORKERSUNEMPLOYMENTUNEMPLOYMENT ASSISTANCEUNEMPLOYMENT BENEFITUNEMPLOYMENT INSURANCEUNEMPLOYMENT INSURANCE SYSTEMVOLATILITYWORKERWorld Bank10.1596/10369