Cummins, J. DavidMahul, Olivier2012-05-212012-05-212009978-0-8213-7736-9https://hdl.handle.net/10986/6289Public 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.en-USCC BY 3.0 IGOADVANCED ECONOMIESADVERSE SELECTIONAGENTSAGRICULTURAL INSURANCEASSETSBASIS RISKBONDBOND MARKETBONDSBROKERSBUILDING CODESBUSINESS OPPORTUNITIESCAPITAL ASSETCAPITAL ASSET PRICINGCAPITAL MARKETCAPITAL MARKETSCAPITAL REQUIREMENTSCAPITAL STOCKCAPTIVE INSURANCECATASTROPHE FUNDCATASTROPHE REINSURANCECATASTROPHESCATASTROPHIC EVENTCENTRE FOR RESEARCH ON THE EPIDEMIOLOGYCLIMATE CHANGECOMMODITIESCOMPULSORY INSURANCECONSUMERSCONTINGENT LIABILITYCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERCORPORATE BONDSCOST OF CAPITALCOUNTRY DEVELOPMENTCOVERAGECREDCREDIT QUALITYCRITICAL INFRASTRUCTURECROP INSURANCECROP INSURANCE SCHEMEDAMAGESDAT DATABASEDEBTDEBT SERVICEDEVELOPING COUNTRIESDEVELOPMENT NETWORKDISASTERDISASTER ASSISTANCEDISASTER MITIGATIONDISASTER PREVENTIONDISASTER RECONSTRUCTIONDISASTER RECOVERYDISASTER REDUCTIONDISASTER RELIEFDISASTER RESPONSEDISASTER RISKDISASTER RISK REDUCTIONDISASTER-PRONE COUNTRIESDISASTER-PRONE COUNTRYDISASTERSDIVERSIFICATION BENEFITSDROUGHTDROUGHTSEARLY WARNINGEARLY WARNING SYSTEMSEARTHQUAKEEARTHQUAKE INSURANCEEARTHQUAKESECONOMIC INTEGRATIONSECONOMIC RISKEMERGENCY COMMUNICATION SYSTEMSEMERGENCY PREPAREDNESSEMERGENCY RESPONSEEQUITY CAPITALEXCESS OF LOSS REINSURANCEEXPOSURE TO RISKEXTREME EVENTSEXTREME WEATHEREXTREME WEATHER EVENTSFACULTATIVE REINSURANCEFARMERFARMERSFINANCE CORPORATIONFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTFINANCIAL INSTRUMENTSFINANCIAL INTERMEDIARIESFINANCIAL PRODUCTFINANCIAL PRODUCTSFINANCIAL RISKFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL SYSTEMFINANCING ARRANGEMENTSFLOODFLOODSGLOBAL MARKETGLOBAL MARKETSGROSS DOMESTIC PRODUCTHURRICANEHURRICANESIMPACT OF DISASTERSINCOMEINCOMESINDEMNITIESINDEMNITYINDEMNITY INSURANCEINDUSTRIAL COUNTRIESINFORMATION FLOWSINSECT INFESTATIONINSTITUTIONAL CAPACITIESINSURANCEINSURANCE AGENTSINSURANCE BENEFITSINSURANCE BUYERSINSURANCE COMPANIESINSURANCE COMPANYINSURANCE CONTRACTINSURANCE CONTRACTSINSURANCE COVERAGEINSURANCE INDUSTRIESINSURANCE INDUSTRYINSURANCE MARKETINSURANCE MARKETSINSURANCE POLICIESINSURANCE POLICYINSURANCE POOLSINSURANCE PREMIUMINSURANCE PRODUCTSINSURANCE RISKINSURED LOSSESINTERNATIONAL FINANCEJURISDICTIONLAWSLIQUIDITYLOSS RATIOLOW-INCOME COUNTRIESMARKET INFRASTRUCTUREMARKET STRUCTUREMETEOROLOGICAL ORGANIZATIONMICROFINANCEMIDDLE-INCOME COUNTRIESMITIGATIONMITIGATION MEASURESMORAL HAZARDNATURAL DISASTERNATURAL DISASTERSNEGOTIATIONNET PREMIUMS WRITTENNON-LIFE INSURANCEOPTION CONTRACTPOLICYHOLDERSPOLITICAL REGIMESPORTFOLIOPORTFOLIO DIVERSIFICATIONPORTFOLIOSPREMIUMSPRIMARY INSURERPRIMARY INSURERSPRIVATE INSURANCEPRIVATE INVESTMENTSPRIVATE SECTOR DEVELOPMENTPROGRAMSPROPERTY INSURANCEPUBLIC INSURANCEPUBLIC-PRIVATE PARTNERSHIPPUBLIC-PRIVATE PARTNERSHIPSRATESREGULATORY FRAMEWORKSREGULATORY IMPEDIMENTSREGULATORY REQUIREMENTSREINSURANCE BROKERREINSURANCE CAPACITYREINSURANCE COMPANIESREINSURANCE MARKETSREINSURANCE PREMIUMSREINSURERREINSURERSRELIEFRELIEF EFFORTSRESERVE FUNDRESERVESRISK ASSESSMENTRISK DIVERSIFICATIONRISK EXPOSURERISK EXPOSURESRISK INSURANCERISK MANAGEMENTRISK MANAGEMENT SYSTEMRISK MITIGATIONRISK PROFILESRISK REDUCTIONRISK REDUCTIONSRISK TRANSFERSAFETYSAFETY NETSCIENTIFIC ORGANIZATIONSSECURITIESSECURITIES MARKETSECURITIES MARKETSSOLVENCYSTARTUPSUSTAINABILITYSUSTAINABLE DEVELOPMENTSYSTEMIC RISKTAXTECHNICAL ASSISTANCETRANSACTION COSTSUNDERWRITINGVOLATILITYVOLCANOESWORLD TRADEWorld Bankhttps://doi.org/10.1596/978-0-8213-7736-9