Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches
Floods have the potential to occur in any location and at any time due to sustained rainfall lasting for several days. In light of these situations, governments that are hesitant to assume these heightened risks may perceive a greater desirability in expanding the involvement of private insurance co...
| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
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Human Resource Management Academic Research Society (HRMARS)
2023
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| Online Access: | http://umpir.ump.edu.my/id/eprint/38642/1/Mitigating%20Flood%20Risk%20in%20Malaysia%20through%20Flood%20Insurance.pdf |
| _version_ | 1796995903073026048 |
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| author | Mohd Rozaimy, Ridzuan Jamal Rizal, Razali Ju, Soon-Yew Norhidayah, Md Yusof Kong, Lai-Kuan Nur Hidayahtul Nabihah, Manas Noor Amira Syazwani, Abd Rahman |
| author_facet | Mohd Rozaimy, Ridzuan Jamal Rizal, Razali Ju, Soon-Yew Norhidayah, Md Yusof Kong, Lai-Kuan Nur Hidayahtul Nabihah, Manas Noor Amira Syazwani, Abd Rahman |
| author_sort | Mohd Rozaimy, Ridzuan |
| collection | UMP |
| description | Floods have the potential to occur in any location and at any time due to sustained rainfall lasting for several days. In light of these situations, governments that are hesitant to assume these heightened risks may perceive a greater desirability in expanding the involvement of private insurance companies. Nevertheless, the inherent communal nature of these risks necessitates active government intervention to provide sufficient insurance coverage. While there have been considerable studies conducted on flood insurance, there is a noticeable dearth of studies that particularly examine the flood insurance structure in Malaysia. The efficacy of catastrophe recovery in developed nations is contingent upon the crucial functions fulfilled by insurance and government assistance. Nevertheless, it is less common for developing nations to engage in such practices. Hence, this study aims to analyze the flood insurance approaches employed in the United States and Japan. Additionally, the secondary objective involves assessing the current state of flood insurance practices in Malaysia and evaluating its feasibility in adopting flood insurance strategies similar to those implemented in the United States and Japan. This study adopts a library-based approach, and the expected outcome of this research is to propose recommendations for Malaysia to improve its flood insurance system. This investigation adds to the existing body of knowledge by offering fresh perspectives on the efficacy of flood insurance practices in the United States and Japan, and their applicability within the context of Malaysia |
| first_indexed | 2024-03-06T13:09:07Z |
| format | Article |
| id | UMPir38642 |
| institution | Universiti Malaysia Pahang |
| language | English |
| last_indexed | 2024-03-06T13:09:07Z |
| publishDate | 2023 |
| publisher | Human Resource Management Academic Research Society (HRMARS) |
| record_format | dspace |
| spelling | UMPir386422023-09-14T07:07:54Z http://umpir.ump.edu.my/id/eprint/38642/ Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches Mohd Rozaimy, Ridzuan Jamal Rizal, Razali Ju, Soon-Yew Norhidayah, Md Yusof Kong, Lai-Kuan Nur Hidayahtul Nabihah, Manas Noor Amira Syazwani, Abd Rahman GB Physical geography H Social Sciences (General) Floods have the potential to occur in any location and at any time due to sustained rainfall lasting for several days. In light of these situations, governments that are hesitant to assume these heightened risks may perceive a greater desirability in expanding the involvement of private insurance companies. Nevertheless, the inherent communal nature of these risks necessitates active government intervention to provide sufficient insurance coverage. While there have been considerable studies conducted on flood insurance, there is a noticeable dearth of studies that particularly examine the flood insurance structure in Malaysia. The efficacy of catastrophe recovery in developed nations is contingent upon the crucial functions fulfilled by insurance and government assistance. Nevertheless, it is less common for developing nations to engage in such practices. Hence, this study aims to analyze the flood insurance approaches employed in the United States and Japan. Additionally, the secondary objective involves assessing the current state of flood insurance practices in Malaysia and evaluating its feasibility in adopting flood insurance strategies similar to those implemented in the United States and Japan. This study adopts a library-based approach, and the expected outcome of this research is to propose recommendations for Malaysia to improve its flood insurance system. This investigation adds to the existing body of knowledge by offering fresh perspectives on the efficacy of flood insurance practices in the United States and Japan, and their applicability within the context of Malaysia Human Resource Management Academic Research Society (HRMARS) 2023-09 Article PeerReviewed pdf en cc_by_4 http://umpir.ump.edu.my/id/eprint/38642/1/Mitigating%20Flood%20Risk%20in%20Malaysia%20through%20Flood%20Insurance.pdf Mohd Rozaimy, Ridzuan and Jamal Rizal, Razali and Ju, Soon-Yew and Norhidayah, Md Yusof and Kong, Lai-Kuan and Nur Hidayahtul Nabihah, Manas and Noor Amira Syazwani, Abd Rahman (2023) Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches. International Journal of Academic Research in Business and Social Sciences (IJARBSS), 13 (9). 240 -260. ISSN 2222-6990. (Published) http://dx.doi.org/10.6007/IJARBSS/v13-i9/18337 http://dx.doi.org/10.6007/IJARBSS/v13-i9/18337 |
| spellingShingle | GB Physical geography H Social Sciences (General) Mohd Rozaimy, Ridzuan Jamal Rizal, Razali Ju, Soon-Yew Norhidayah, Md Yusof Kong, Lai-Kuan Nur Hidayahtul Nabihah, Manas Noor Amira Syazwani, Abd Rahman Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches |
| title | Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches |
| title_full | Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches |
| title_fullStr | Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches |
| title_full_unstemmed | Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches |
| title_short | Mitigating flood risk in Malaysia through flood insurance: Exploring the feasibility of the United States and Japanese approaches |
| title_sort | mitigating flood risk in malaysia through flood insurance exploring the feasibility of the united states and japanese approaches |
| topic | GB Physical geography H Social Sciences (General) |
| url | http://umpir.ump.edu.my/id/eprint/38642/1/Mitigating%20Flood%20Risk%20in%20Malaysia%20through%20Flood%20Insurance.pdf |
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