Natural hazard insurance in Europe: tailored responses to climate change are needed

Schwarze, Reimund; Schwindt, Manijeh; Weck-Hannemann, Hannelore; Raschky, Paul A.; Zahn, Ferdinand; Wagner, Gert G.

doi:10.1002/eet.554

Cited by 76 publications

(53 citation statements)

References 20 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…These include private insurance systems, public-private partnerships and full public compensation schemes. For a discussion on these different practices, see Botzen (2013); Schwarze et al (2011);and Paudel (2012). Even though offering flood insurance contracts is allowed by the Dutch government, such products were not offered for decades until the year 2012, when an optional private flood insurance scheme was launched 1 .…”

Section: Private Flood Insurancementioning

confidence: 99%

Increasing flood exposure in the Netherlands: implications for risk financing

Jongman

Koks

Husby

et al. 2014

Nat. Hazards Earth Syst. Sci.

View full text Add to dashboard Cite

Abstract. The effectiveness of disaster risk management and financing mechanisms depends on an accurate assessment of current and future hazard exposure. The increasing availability of detailed data offers policy makers and the insurance sector new opportunities to understand trends in risk, and to make informed decisions on ways to deal with these trends. In this paper we show how comprehensive property level information can be used for the assessment of exposure to flooding on a national scale, and how this information provides valuable input to discussions on possible risk financing practices. The case study used is the Netherlands, which is one of the countries most exposed to flooding globally, and which is currently undergoing a debate on strategies for the compensation of potential losses. Our results show that flood exposure has increased rapidly between 1960 and 2012, and that the growth of the building stock and its economic value in flood-prone areas has been higher than in non-flood-prone areas. We also find that property values in flood-prone areas are lower than those in non-flood-prone areas. We argue that the increase in the share of economic value located in potential flood-prone areas can have a negative effect on the feasibility of private insurance schemes in the Netherlands. The methodologies and results presented in this study are relevant for many regions around the world where the effects of rising flood exposure create a challenge for risk financing.

show abstract

Section: Private Flood Insurancementioning

confidence: 99%

Increasing flood exposure in the Netherlands: implications for risk financing

Jongman

Koks

Husby

et al. 2014

Nat. Hazards Earth Syst. Sci.

View full text Add to dashboard Cite

show abstract

“…It is purchased by those at risk before an event, offering financial compensation in the case of a loss event. Insurance is either provided publicly, privately, or through a public-private partnership; it can be subsidized or mandated, and guided either by the principle of solidarity or by the market (Schwarze et al, 2011;Paudel et al, 2012).…”

Section: Insurance and Risk Reductionmentioning

confidence: 99%

Investigating the Risk Reduction Potential of Disaster Insurance Across Europe

Surminski

Hudson

2017

Geneva Pap Risk Insur Issues Pract

View full text Add to dashboard Cite

“…As introduced, it is worth highlighting that due to the lack of an ex-ante public disaster funds, such as those in force in Austria and Denmark to restore private real estate, the Italian government enacts ad hoc rules to sustain the rebuilding just in the aftermath and over the years/decades following a disaster so as to compensate for the losses through the state current resources or the tax-derived ones [9].…”

Section: The Role Of the Italian State After Past Disasters And The Gmentioning

confidence: 99%

The Insurance Market of Natural Hazards for Residential Properties in Italy

Gizzi¹,

Potenza²,

Zotta³

2016

OJER

View full text Add to dashboard Cite

Insurance is an effective complementary countermeasure for unexpected losses brought about by natural hazards. Coverage can be a useful tool considering in particular that public funds available to compensate for damages are limited and the consequences of catastrophes are becoming more severe over the time. Bearing this in mind, the authors performed a study aiming to clear up the main aspects and limits of the insurance market of natural hazards for residential properties in Italy. The opening sections of the paper give an overview of both the historical extreme events in Europe and Italy, and the reasons for the low insurance penetration rate in Italy. After that, the paper goes to the core of the research casting light upon the insurance market in Italy and examining the features and possible drawbacks of the available insurance covers. In this paper, the geophysical (seismic and volcanic) and hydrological (landslide and flood) hazards are analysed, and the residential stock is taken as a reference. After deepening in the local insurance market, the research focuses on the possible suggestions to stakeholders of how to increase the insurance penetration rate by taking advantage of the international experiences.

show abstract

Natural hazard insurance in Europe: tailored responses to climate change are needed

Cited by 76 publications

References 20 publications

Increasing flood exposure in the Netherlands: implications for risk financing

Increasing flood exposure in the Netherlands: implications for risk financing

Investigating the Risk Reduction Potential of Disaster Insurance Across Europe

The Insurance Market of Natural Hazards for Residential Properties in Italy

Contact Info

Product

Resources

About