The Role of Disaster Regulations and Insurance Regulations on the Development of Disaster Insurance Markets

Tiwari, Ashu; Patro, Archana; Patky, Jahnavi

doi:10.4018/978-1-5225-8547-3.ch010

Cited by 3 publications

References 35 publications

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Commercial value of panic buying and its marketing implications

Lim,

Kalantari,

Perera

2024

J of Consumer Behaviour

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In the wake of the significant impact of the COVID‐19 pandemic on industries and societies worldwide, the world has transitioned into a new normal marked by increased susceptibility to disruptive, volatile, uncertain, complex, and ambiguous (DVUCA) events. In this new normal, panic buying has proliferated into a pervasive global consumer behavior, rendering far‐reaching implications on economies and societies worldwide and thus necessitating thorough investigation. Existing literature on panic buying is constrained by two noteworthy limitations: firstly, the scarcity of studies that delineate the commercial impact of panic buying, and secondly, the dearth of longitudinal data in panic buying research. Addressing these gaps, this study employs longitudinal multi‐sourced monthly and seasonally adjusted secondary data comprising retail revenue of supermarkets and grocery stores and related COVID‐19 indicators in Australia to establish a case of panic buying and examine its commercial impact. Using 10 generalized least squares and two‐stage least squares regressions, we observe a positive, statistically significant relationship between the intensity of external crises and retail revenue, even when accounting for control and instrumental variables. Specifically, the increasing number of COVID‐19 new cases was found to produce a positive and significant effect on supermarket and grocery store revenue, with each new case contributing AU $0.02 million. Therefore, the present study contributes alternative evidence from the field that not only reaffirms the effect of externalities such as COVID‐19 in stimulating panic buying among consumers, but also highlights, for the first time, the commercial value of panic buying. The marketing implications of these findings in the new normal are also discussed.

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Commercial value of panic buying and its marketing implications

Lim,

Kalantari,

Perera

2024

J of Consumer Behaviour

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Characteristics of Panic Buying During Disaster: Pre-disaster, Disaster, and Post-disaster Phase

Singh

Khadka

2022

Panic Buying and Environmental Disasters

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Collaborative governance and integrated risk management framework of natural disasters

Tiwari

2024

JABS

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Purpose This study aims to align the objectives of key stakeholders by developing an integrated framework for high-impact natural disaster risk management. High-impact natural disasters have emerged as one of the most challenging policy issues. Design/methodology/approach The authors have applied the thematic text analysis for analysing the list of questions essential to develop an integrated framework. For theory, the authors have used the theoretical framework of collaborative governance. Findings The current work explains how to identify key stakeholders. Furthermore, it describes the framework to fit stakeholders' actions into the actionable components of risk management. Additionally, this framework also helps the firms that fall under the category of the industries “in the proximity of risks” and “the support industries” in modifying their role in the context of natural disaster risk. Research limitations/implications The limitation of this framework is that the authors relied on commonly occurring natural disaster risks to develop the framework. Therefore, risk-specific aspects are less likely to be thoroughly covered in this framework. However, this limitation is not directly impacting the goal of this study. Additionally, in the future more comprehensive framework with the additional element in the existing framework can overcome these limitations. Practical implications The findings of the study offer insights that can be useful for policymakers in developing various preventive strategies. Managers can use the results and align their objectives with policy goals. Social implications Socially, if communities try to design local risk management strategies, this framework would be helpful. Originality/value This study illustrates the role of objective alignment in high-impact risk management. This study is crucial in extending current knowledge on high-impact natural disaster risk management.

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The Role of Disaster Regulations and Insurance Regulations on the Development of Disaster Insurance Markets

Cited by 3 publications

References 35 publications

Commercial value of panic buying and its marketing implications

Commercial value of panic buying and its marketing implications

Characteristics of Panic Buying During Disaster: Pre-disaster, Disaster, and Post-disaster Phase

Collaborative governance and integrated risk management framework of natural disasters

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