Parametric Insurance: Using Objective Measures to Address the Impacts of Natural Disasters and Climate Change

Autor:	John G. Nevius, James M. Van Nostrand
Rok vydání:	2011
Předmět:	Work (electrical) Severe weather Natural resource economics Pooling Climate change Developing country Business Management Monitoring Policy and Law Set (psychology) Natural disaster Parametric statistics
Zdroj:	Environmental Claims Journal. 23:227-237
ISSN:	1547-657X 1040-6026
DOI:	10.1080/10406026.2011.607066
Popis:	Parametric insurance is a promising alternative to traditional insurance when it comes to addressing catastrophic weather events and their impact on developing nations. Where available, traditional insurance is expensive and can involve protracted claim adjustment. Parametric insurance, on the other hand, provides coverage monies automatically upon the existence of certain objective weather-related parameters based upon a set formula. This model has been shown to work in the Caribbean Basin, but requires international cooperation in pooling, measuring, and managing risk. The immediate availability of emergency-response funds can be crucial in mitigating the impacts of climate change and related severe weather events.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::9358a5ed0db707b171eb8bf5edeff412 https://doi.org/10.1080/10406026.2011.607066 Zobrazit plný text záznamu