Kooperativer Bibliotheksverbund

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Umfang: 1 online resource (454 pages)

Ausgabe: 1st ed.

ISBN: 9781107033276 , 9781107348370

Inhalt: In recent years, the damage caused by natural disasters has increased worldwide. This book considers how the most common mechanism for managing risk - insurance - can contribute to designing policies which limit the risks posed by natural disasters, and reduce their impact on society in a changing climate

Anmerkung: Cover -- Managing Extreme Climate Change Risks through Insurance -- Title -- Copyright -- Contents -- Figures -- Tables -- Preface -- Acknowledgements -- Introduction -- 1 Climate change and natural disaster risk management -- 1.1 Background -- 1.2 Future natural disaster risks under climate and socio-economic change -- 1.2.1 Impact of socio-economic developments on natural catastrophe damage -- 1.2.2 Climate change and the frequency and severity of natural disasters -- 1.3 Assessing natural catastrophe risk -- 1.3.1 Expert modelling of natural disaster risk -- 1.3.2 Households' assessments of risk and behaviour -- Individual risk perception -- Individual behaviour under risk and the purchase of natural disaster insurance -- 1.4 Managing natural disaster risks -- 1.4.1 Economic resilience to natural disasters -- 1.4.2 Risk management strategies -- Hazard prevention to reduce the probability of suffering damage and the expected costs of damage -- Mitigation of damage at the household level -- Government compensation for damage -- Diversification of risk management strategies -- 1.5 The role of insurance in adaptation to natural disasters -- 1.5.1 Climate change impacts on the insurance sector -- 1.5.2 Demand for financial coverage in a changing climate -- 1.5.3 The role of insurers in managing natural disaster risk -- 1.6 Outline of this book -- 1.6.1 Research methods -- 1.6.2 Chapter outline and structure of this book -- 2 Climate change impacts on the insurance sector -- 2.1 Introduction -- 2.2 The relevance of climate change for the (international) insurance sector -- 2.2.1 The influence of climate change on natural disaster damage in the past -- 2.2.2 Expected consequences of climate change for insurers -- 2.3 Observed climate change and projections for the Netherlands -- 2.4 Risk-sharing arrangements for weather risks in the Netherlands , 10.1 Introduction , 2.4.1 Extreme precipitation and flooding -- 2.4.2 Windstorms -- 2.4.3 Extreme drought -- 2.4.4 Hailstorms -- 2.4.5 Summary of current risk-sharing arrangements for weather risks -- 2.5 International case studies of the impacts of climate change on the insurance sector -- 2.5.1 Canada -- 2.5.2 United Kingdom -- 2.5.3 United States of America -- 2.5.4 Natural disaster insurance in developing countries -- 2.6 Possible and actual responses by the international insurance industry to climate change -- 2.7 Conclusions -- 3 Climate change and future costs of natural disasters -- 3.1 Introduction -- 3.2 International studies on the potential impacts of climate change on the risks of convective weather -- 3.3 Hailstorm damage insurance and data used in the analysis -- 3.3.1 Hailstorm damage insurance for the agricultural sector in the Netherlands -- 3.3.2 Hailstorm damage data used in the analysis -- 3.3.3 Temperature and precipitation data used in this study -- 3.3.4 Main relations between hailstorm damage and temperature -- 3.4 Estimation results -- 3.4.1 Tobit estimation results of hailstorm damage models -- Statistical model and estimation method -- Forecast performance of hailstorm damage indicators -- Estimation results of models using the observations of the whole year -- Estimation results of models using the high-damage months April to September -- 3.4.2 Comparison of results with international studies -- 3.5 Extrapolations of hailstorm damage using climate change scenarios -- 3.6 Economic implications: Adaptation by agricultural and insurance sectors to the projected increase in hailstorm damage -- 3.7 International studies on the potential impacts of climate and socio-economic change on natural disaster damage -- Projected impacts of climate change on storm damage -- Projected impacts of climate change on flood damage , 6.2.3 Germany -- 6.3 Elevating buildings as a sustainable long-run water management strategy -- 6.4 Willingness of households to invest in elevating houses -- 6.4.1 The survey -- 6.4.2 Sample characteristics -- 6.4.3 Willingness to invest in eliminating flood risk through elevation -- 6.4.4 Factors determining the willingness to invest in elevation -- 6.4.5 Expected impacts of climate change -- 6.4.6 Respondents' perceptions of flood risk and geographical characteristics -- 6.4.7 Risk attitudes: Willingness to purchase flood insurance -- 6.4.8 Socio-economic characteristics -- 6.5 Conclusions -- 7 Insurance incentives for homeowners to invest in adaptation -- 7.1 Introduction -- 7.2 International experience of the undertaking of voluntary mitigation measures and the role of insurance in encouraging mitig -- 7.2.1 Encouraging mitigation through insurance -- 7.2.2 Long-term insurance (LTI) contracts -- 7.3 Damage mitigation measures and flood risk management in the Netherlands -- 7.4 Explanation of the survey -- 7.5 Descriptive statistics for willingness to undertake mitigation measures and an analysis of their effectiveness -- 7.5.1 Mitigation measure 1: Buying sandbags to create a water barrier -- 7.5.2 Mitigation measure 2: Installing water-resistant flooring -- 7.5.3 Mitigation measure 3: Moving laundry and drying machines to a higher floor -- 7.5.4 Mitigation measure 4: Relocating the central heating boiler to a higher floor -- 7.5.5 Summary of willingness to undertake mitigation measures -- 7.5.6 Estimating the potential contribution of mitigation in limiting flood damage -- 7.5.7 Case study of dike-ring area 36 -- 7.5.8 Mitigating flood risk in the 1 in 1,250 norm dike-ring areas under climate change -- 7.6 Statistical model of the decision to mitigate by buying sandbags as a water barrier -- 7.6.1 Estimation results of the probit model , 7.7 Conclusions -- 8 Bounded rationality and demand for flood insurance -- 8.1 Introduction -- 8.2 Insurance purchases for low-probability natural hazard risk, and the theoretical implications -- 8.3 Climate change and the risk of flooding -- 8.4 Estimating demand for flood insurance -- 8.4.1 Applying rank-dependent utility theory -- 8.4.2 Applying prospect theory -- 8.4.3 Implicit risk aversion -- 8.5 Conclusions -- 9 Individual perceptions of flood risk -- 9.1 Introduction -- 9.2 Flood risk and perceptions in the Netherlands -- 9.2.1 Flood risk in the Netherlands -- 9.2.2 Studies on perceived flood risk in the Netherlands -- 9.3 The psychology of the formation of risk perceptions -- 9.4 Explaining the survey and variables used in modelling risk perception -- 9.4.1 Implementation of the survey -- 9.4.2 Sample characteristics -- 9.5 An examination of perceptions of flood risk in the Netherlands -- 9.5.1 Perceived flood risk relative to other risk -- 9.5.2 Qualitative estimate of the perceived flood probability -- 9.5.3 Respondents' perceived flood risk relative to an average citizen -- 9.5.4 The perceived return period of flooding and compliance with the flood safety norm -- 9.5.5 Expected flood damage -- 9.6 Results of statistical analyses of factors determining risk perception -- 9.6.1 Statistical methods -- 9.6.2 Explanatory variables used in the statistical analysis -- 9.6.3 Estimation results -- Model 1 of the perceived flood probability -- Model 2 of the respondents' perceived flood risk compared with an average resident -- Model 3 of respondents' perceptions that the flood return period exceeds the legal safety norm of dike design -- Model 4 of the amount of flood damage that is expected by individuals -- 9.7 Conclusions and policy implications -- 10 Willingness-to-pay (WTP) for insurance against low-probability flood risks , Impacts on future storm and flood damage as a result of socio-economic change -- 3.8 Conclusions -- 4 Climate change adaptation through insurance against flooding -- 4.1 Introduction -- 4.2 Current risk-sharing arrangements for flood damage in the Netherlands -- 4.3 Suggestions for managing risk with private flood insurance -- 4.3.1 Risk spreading and segregation -- 4.3.2 Limiting disaster damage by loss-reducing incentives and monitoring -- 4.4 Problems associated with private flood insurance arrangements and suggestions for possible solutions -- 4.4.1 Risk and uncertainty -- 4.4.2 Information asymmetries: Adverse selection and moral hazard -- 4.4.3 Correlated risks -- 4.5 International experience of flood insurance arrangements -- 4.5.1 United States of America -- 4.5.2 United Kingdom -- 4.5.3 France -- 4.5.4 Germany -- 4.5.5 Summary of risk-sharing arrangements -- 4.6 Conclusions -- 5 Dealing with uncertainty in flood risk management -- 5.1 Introduction -- 5.2 Flood risk management in the Netherlands -- 5.2.1 Climate change and safety standards -- 5.3 The framework of modern portfolio theory -- 5.4 Application of modern portfolio theory to flood risk management -- 5.4.1 States of nature -- 5.4.2 Climate change scenarios -- 5.4.3 The assets: Four flood protection measures -- Asset D+: Reinforcement of dikes -- Asset Cp: Dividing a dike-ring into compartments -- Asset Fp: Reducing vulnerability to flooding of individual properties -- Asset R: Creating upstream retention areas -- 5.4.4 Calculation of the portfolio return and variance -- 5.4.5 Discussion and interpretation of results -- 5.5 Conclusions -- 6 Damage mitigation measures at the household level and climate change adaptation -- 6.1 Introduction -- 6.2 International studies on the effectiveness of flood mitigation measures -- 6.2.1 United States of America -- 6.2.2 United Kingdom

Weitere Ausg.: Print version Botzen, W. J. Wouter Managing Extreme Climate Change Risks Through Insurance New York : Cambridge University Press,c2013 ISBN 9781107033276

Sprache: Englisch

Schlagwort(e): Electronic books

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