Insuring Public Finances Against Natural Disasters - a Survey of Options and Recent Initiatives
24 Pages Posted: 3 Oct 2006
Date Written: August 2006
Abstract
Natural disasters can put severe strain on public finances, in particular in developing and small countries. But catastrophe insurance markets increasingly offer opportunities for the transfer of such risks. Thus far, developing countries have only tepidly begun to tap these opportunities. More frequent and intensive use of insurance markets may be desirable because it could help introduce an important element of predictability in the post-disaster public finances of disaster-prone developing countries. Against this background, the paper surveys the various available insurance modalities and reviews recent initiatives in developing and emerging market countries. It also identifies some key challenges for the insurance community, donors, and international financial institutions (IFIs).
Keywords: public finances, insurance
JEL Classification: G15, G22, H30, H41, O10, Q54
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Coping with Disaster: The Impact of Hurricanes on International Financial Flows, 1970-2002
By Dean Yang
-
Coping with Disaster: The Impact of Hurricanes on International Financial Flows, 1970-2001
By Dean Yang
-
The Death Toll from Natural Disasters: The Role of Income, Geography and Institutions
-
Are External Shocks Responsible for the Instability of Output in Low-Income Countries?
-
Macroeconomic Implications of Natural Disasters in the Caribbean
-
High Consumption Volatility: The Impact of Natural Disasters?
-
Natural Disasters in Latin America and the Caribbean: An Overview of Risk
-
The Structural Determinants of External Vulnerability
By Norman Loayza and Claudio E. Raddatz
-
The Economics of Natural Disasters: A Survey
By Eduardo A. Cavallo and Ilan Noy