Insurance mechanisms for tropical cyclones and droughts in Pacific Small Island Developing States
Jàmbá: Journal of Disaster Risk Studies
| Field | Value | |
| Title | Insurance mechanisms for tropical cyclones and droughts in Pacific Small Island Developing States | |
| Creator | Baarsch, Florent Kelman, Ilan | |
| Description | One group of locations significantly affected by climate-related losses and damage is the Small Island Developing States (SIDS). One mechanism aiming to reduce such adverse impacts is insurance, with a wide variety of products and models available. Insurance for climate-related hazards affecting Pacific SIDS has not been investigated in detail. This article contributes to filling this gap by exploring how insurance mechanisms might be implemented in the Pacific SIDS for tropical cyclones and droughts. The study examines opportunities and constraints or limitations of some existing insurance mechanisms and programmes as applied to the Pacific SIDS. Eight insurance mechanisms are compared and discussed regarding the premium cost compared to the gross domestic product per capita, the amount of payout compared to the damage cost, the reserve and reinsurance, and the disaster risk reduction incentives. As such, this article offers a decision-making tool on insurance development for the Pacific SIDS. Ultimately, implementing disaster insurance for the Pacific SIDS depends on political will and external technical and financial assistance. | |
| Publisher | AOSIS | |
| Date | 2016-08-31 | |
| Identifier | 10.4102/jamba.v8i1.288 | |
| Source | Jàmbá: Journal of Disaster Risk Studies; Vol 8, No 1 (2016); 12 pages 2072-845X 1996-1421 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://jamba.org.za/index.php/jamba/article/view/288/542
https://jamba.org.za/index.php/jamba/article/view/288/543
https://jamba.org.za/index.php/jamba/article/view/288/544
https://jamba.org.za/index.php/jamba/article/view/288/538
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