The unfortunate regressivity of public natural hazard insurance: A quantitative analysis of a New Zealand case
Sally Owen and
Ilan Noy ()
No 6399, Working Paper Series from Victoria University of Wellington, School of Economics and Finance
Natural hazard insurance is almost always provided through public-private partnerships. Given the dominant role of the public sector, it is surprising that equity issues have not faced more scrutiny with respect to the design of hazard insurance. We provide a detailed quantification of the degree of regressivity of the New Zealand earthquake insurance program â€“ a system that was designed with an egalitarian purpose. We measure this regressivity as it manifested in the half a million insurance claims that resulted from the Canterbury earthquakes of 2011. As in other cases, this can be remedied with modifications to the programâ€™s structure.
Keywords: Natural hazard insurance; Canterbury earthquakes 2011; New Zealand; Hazard insurance (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ias
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: The Unfortunate Regressivity of Public Natural Hazard Insurance: A Quantitative Analysis of a New Zealand Case (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwecf:6399
Access Statistics for this paper
More papers in Working Paper Series from Victoria University of Wellington, School of Economics and Finance Alice Fong, Administrator, School of Economics and Finance, Victoria Business School, Victoria University of Wellington, PO Box 600 Wellington, New Zealand. Contact information at EDIRC.
Bibliographic data for series maintained by Library Technology Services ().