Insurance Sector and Climate Changes in Serbia
Climate changes have a strong negative impact on the insurance sector, which is reflected in the slow development of the insurance sector and in the transfer of the greater part of risk on the state and individuals. The difference between collected and paid premiums on the basis of incurred losse...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Institute of Economic Sciences
2017-06-01
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| Series: | Economic Analysis |
| Subjects: | |
| Online Access: | http://www.library.ien.bg.ac.rs/index.php/ea/article/view/341/336 |
| Summary: | Climate changes have a strong negative impact on the insurance sector, which is
reflected in the slow development of the insurance sector and in the transfer of the greater part of risk
on the state and individuals. The difference between collected and paid premiums on the basis of
incurred losses is rapidly decreasing, which leads to the fact that insurance market is less and less
capable of absorbing the losses associated with climate changes, which then has negative repercussions
on the availability of insurance services at an affordable premium. The question of establishing
potential long and short-term effects of climate changes on business activities of insurance and
reinsurance companies represents a priority and its ultimate objective is to find ways to minimize
risks and losses.
The problem of climate changes represents an important social problem in today’s civilization. At
the same time, it is also an ecological problem, but also economic, political, social, cultural, health, etc.
It is a global ecological problem, hence we can speak about global climate changes which affect states,
nations, continents regardless of where they are and how responsible they are for creating and
sustaining these changes. |
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| ISSN: | 1821-2573 2560-3949 |