FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET
The article deals with characteristics and problems of world natural hazards insurance market. Special attention in this article is paid to activity of direct and indirect participants of the market: policy holders, insurance intermediaries, insurers, reinsurers, companies of construction industry a...
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| Format: | Article |
| Language: | English |
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MGIMO University Press
2013-12-01
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| Series: | Vestnik MGIMO-Universiteta |
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| Online Access: | https://www.vestnik.mgimo.ru/jour/article/view/1154 |
| _version_ | 1797321881678774272 |
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| author | E. A. Tokareva |
| author_facet | E. A. Tokareva |
| author_sort | E. A. Tokareva |
| collection | DOAJ |
| description | The article deals with characteristics and problems of world natural hazards insurance market. Special attention in this article is paid to activity of direct and indirect participants of the market: policy holders, insurance intermediaries, insurers, reinsurers, companies of construction industry and real estate, banks and other financial institutions, investors, rating agencies, Government. The article underlines the importance of adequate natural hazard risks assessment. The article describes factors that influence demand and supply aspects on the market. The supply is constrained by insurer’s and reinsurer’s capacity and the willingness of investors to finance natural hazard insurance market. Low interest of potential policy holders to buy natural hazard insurance is explained mainly by practice of post-disaster government relief programs. As insurance component increases in natural disaster compensation schemes, moral hazard decreases, but adverse selection goes up. |
| first_indexed | 2024-03-08T05:05:10Z |
| format | Article |
| id | doaj.art-2e4c6ba3f04049898f04852b719ad766 |
| institution | Directory Open Access Journal |
| issn | 2071-8160 2541-9099 |
| language | English |
| last_indexed | 2024-03-08T05:05:10Z |
| publishDate | 2013-12-01 |
| publisher | MGIMO University Press |
| record_format | Article |
| series | Vestnik MGIMO-Universiteta |
| spelling | doaj.art-2e4c6ba3f04049898f04852b719ad7662024-02-07T10:17:03ZengMGIMO University PressVestnik MGIMO-Universiteta2071-81602541-90992013-12-0106(33)12713310.24833/2071-8160-2013-6-33-127-133923FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKETE. A. Tokareva0Moscow State Institute of International Relations (University), 76, Prospect Vernadskogo, Moscow, 119454, Russia.The article deals with characteristics and problems of world natural hazards insurance market. Special attention in this article is paid to activity of direct and indirect participants of the market: policy holders, insurance intermediaries, insurers, reinsurers, companies of construction industry and real estate, banks and other financial institutions, investors, rating agencies, Government. The article underlines the importance of adequate natural hazard risks assessment. The article describes factors that influence demand and supply aspects on the market. The supply is constrained by insurer’s and reinsurer’s capacity and the willingness of investors to finance natural hazard insurance market. Low interest of potential policy holders to buy natural hazard insurance is explained mainly by practice of post-disaster government relief programs. As insurance component increases in natural disaster compensation schemes, moral hazard decreases, but adverse selection goes up.https://www.vestnik.mgimo.ru/jour/article/view/1154natural hazards insuranceinsurance marketnatural hazard riskscatastrophe risk modeling companiesmicroinsuranceprevention measuresmoral hazardadverse selection |
| spellingShingle | E. A. Tokareva FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET Vestnik MGIMO-Universiteta natural hazards insurance insurance market natural hazard risks catastrophe risk modeling companies microinsurance prevention measures moral hazard adverse selection |
| title | FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET |
| title_full | FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET |
| title_fullStr | FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET |
| title_full_unstemmed | FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET |
| title_short | FEARURES AND PROBLEMS OF NATURAL HAZARDS INSURANCE MARKET |
| title_sort | fearures and problems of natural hazards insurance market |
| topic | natural hazards insurance insurance market natural hazard risks catastrophe risk modeling companies microinsurance prevention measures moral hazard adverse selection |
| url | https://www.vestnik.mgimo.ru/jour/article/view/1154 |
| work_keys_str_mv | AT eatokareva fearuresandproblemsofnaturalhazardsinsurancemarket |