Reinsurance – an efficient solution of catastrophe risk transfer for the housing stock of Romania
As economic losses caused by natural disasters substantially increase in volume, impacting national economies, post-disaster reconstruction financing becomes crucial, especially for countries with fragile economies. The growing gap between economic and insured losses calls for a pragmatic approach r...
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2022-06-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/1600.pdf
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| Summary: | As economic losses caused by natural disasters substantially increase in volume,
impacting national economies, post-disaster reconstruction financing becomes crucial, especially
for countries with fragile economies. The growing gap between economic and insured losses calls
for a pragmatic approach related to financial protection solutions. Romania is one of the few
countries that adopted a solution to cut down this deficit of protection in the case of the residential
system. This system considers reinsurance as a sustainable risk transfer method, meant to quickly
and efficiently attract the funds required to rebuild the housing stock in the event of a disaster. |
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| ISSN: | 1841-8678 1844-0029 |