Managing Catastrophic Disaster Risks Using Alternative Risk financing and Pooled Insurance Structures

John D. Pollner

No 13961 in World Bank Publications - Books from The World Bank Group

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.

Keywords: Finance and Financial Sector Development-Non Bank Financial Institutions Insurance and Risk Mitigation Banks and Banking Reform Environmental Economics and Policies Health Economics and Finance Health; Nutrition and Population (search for similar items in EconPapers)
Date: 2001-05
ISBN: 0-8213-4917-1
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Citations: View citations in EconPapers (9)

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