Abstract

http://ssrn.com/abstract=982172
 
 

Footnotes (93)



 


 



Participation and Disintermediation in a Risk Society


Robert J. Rhee


University of Florida - Fredric G. Levin College of Law


Law and Recovery After Disaster: Hurricane Katrina, Chapter 7, at 103-126 (Robin Paul Malloy, ed., Ashgate Press, 2008)
U of Maryland Legal Studies Research Paper No. 2007-21

Abstract:     
This is a book chapter in a forthcoming book, Law, Property, and Society (Ashgate Press). The chapter argues that financing extreme catastrophic loss will become more problematic as catastrophes become more frequent and severe. An effective strategy must increase the level of participation in the spreading of risk and loss. Currently, risk spreading is done largely through insurers and government as they are the default aggregators of private and public capital. An enlargement of participation may mean the disintermediation of the traditional insurance and public compensation functions, thus allowing more direct and efficient participation between those are exposed to risk and those who are willing to bear it. This chapter also argues that tax policy should consider catastrophe risk and compensation as a way to positively influence risk-taking behavior. Currently, tax policy focuses on the equity and fairness of taxation of individual income, but these considerations are also at the heart of public financing of catastrophes.

Number of Pages in PDF File: 21

Keywords: Diaster, Disaster Relief, Financing Catastrophe, Catastrophe, Catastrophic Risk, Katrina, September 11, 9/11, public finance, flood insurance, catastrophe compensation, compensation fund, national flood insurance, securitization, insurance securitization, alternative risk transfer

JEL Classification: D3, D6, D7, H1, H2, H5, K1, K00

Accepted Paper Series


Download This Paper

Date posted: April 24, 2007 ; Last revised: May 21, 2009

Suggested Citation

Rhee, Robert J., Participation and Disintermediation in a Risk Society. Law and Recovery After Disaster: Hurricane Katrina, Chapter 7, at 103-126 (Robin Paul Malloy, ed., Ashgate Press, 2008); U of Maryland Legal Studies Research Paper No. 2007-21. Available at SSRN: http://ssrn.com/abstract=982172

Contact Information

Robert J. Rhee (Contact Author)
University of Florida - Fredric G. Levin College of Law ( email )
P.O. Box 117625
Gainesville, FL 32611-7625
United States
Feedback to SSRN


Paper statistics
Abstract Views: 718
Downloads: 124
Download Rank: 135,182
Footnotes:  93
Paper comments
No comments have been made on this paper

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.312 seconds