Estimation of insurance premiums for coverage against natural disaster risk: an application of Bayesian Inference

Autor:	Y. Paudel, W. J. W. Botzen, J. C. J. H. Aerts
Jazyk:	angličtina
Rok vydání:	2013
Předmět:	Environmental technology. Sanitary engineering TD1-1066 Geography. Anthropology. Recreation Environmental sciences GE1-350 Geology QE1-996.5
Zdroj:	Natural Hazards and Earth System Sciences, Vol 13, Iss 3, Pp 737-754 (2013)
Druh dokumentu:	article
ISSN:	1561-8633 1684-9981
DOI:	10.5194/nhess-13-737-2013
Popis:	This study applies Bayesian Inference to estimate flood risk for 53 dyke ring areas in the Netherlands, and focuses particularly on the data scarcity and extreme behaviour of catastrophe risk. The probability density curves of flood damage are estimated through Monte Carlo simulations. Based on these results, flood insurance premiums are estimated using two different practical methods that each account in different ways for an insurer's risk aversion and the dispersion rate of loss data. This study is of practical relevance because insurers have been considering the introduction of flood insurance in the Netherlands, which is currently not generally available.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/6799f4dfdacb4d55b6ae3fc4b1f42cdd Zobrazit plný text záznamu View record in DOAJ