Index-Based Risk Financing and Development of Natural Disaster Insurance Programs in Developing Asian Countries

Sommarat Chantarat, Krirk Pannangpetch, Nattapong Puttanapong, Preesan Rakwatin and Thanasin Tanompongphandh
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Krirk Pannangpetch: Khon Kaen University
Preesan Rakwatin: Ministry of Science and Technology
Thanasin Tanompongphandh: Kasetsart University

Chapter Chapter 9 in Resilience and Recovery in Asian Disasters, 2015, pp 171-200 from Springer

Abstract: Abstract This chapter explores innovations in index-based risk transfer products (IBRTPs) as a means to address important insurance market imperfections that have precluded the emergence and sustainability of formal insurance markets in developing countries. Using a combination of disaggregated nationwide weather, remote sensing and household livelihood data commonly available in developing countries, the chapter provides empirical illustration of nationwide and scalable IBRTP contracts to analyse hedging effectiveness and welfare impacts at the micro level, and to explore cost effective risk-financing options. Our analysis uses Thai rice production to extend the methodology and implications to enhance development of national and regional disaster risk management in Asia.

Keywords: Normalise Difference Vegetation Index; Crop Cycle; Normalise Difference Vegetation Index Data; Move Excessive; Index Insurance (search for similar items in EconPapers)
Date: 2015
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Working Paper: Index-Based Risk Financing and Development of Natural Disaster Insurance Programs in Developing Asian Countries (2013)
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DOI: 10.1007/978-4-431-55022-8_9

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