U.S. transportation infrastructure resilience: Influences of insurance, incentives, and public assistance

Tonn, Gina; Reilly, Allison; Czajkowski, Jeffrey; Ghaedi, Hamed; Kunreuther, Howard

doi:10.1016/j.tranpol.2020.10.011

Cited by 42 publications

(19 citation statements)

References 20 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…According to a report by Tonn et al (2021) in the United States, reinsurance companies help countries build their infrastructures. In order to pay survivors of a range of hazards during and after the new construction of buildings, roads, and stadiums, etc., developers cannot afford to risk the entire worth of their company.…”

Section: Literature Reviewmentioning

confidence: 99%

“…This $14 billion megaproject, which was finished in 2006, was bigger than the Panama Canal and much more costly than the Chunnel that connects England to France. There were 600 construction firms and 150 general contractors working on the Central Artery in Boston (Tonn et al, 2021) Despite the fact that operation went smoothly, there were issues, along with a fatality brought on by the I-90 connector tunnel ceiling crash. Without reinsurance, it would not have been possible to carry out this enormous operation that resulted in the creation of lots of jobs, decreased traffic congestion in the town, and decreased greenhouse emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Contribution of Reinsurance Business to the Economy

Kajwang¹

2022

IJECOP

View full text Add to dashboard Cite

Purpose: Insurance provides protection against financial aspects of a premature death, injury, and loss of property, loss of earning power, legal liability or other unexpected expenses. However, the industry’s contribution to the economy goes much further. One could point to the millions of people employed in insurance and related activities, to the billions of income taxes and premium taxes paid and to extensive charitable works. But, significant as they are, insurers also need protection against risk. That is why reinsurance has developed in last two centuries. The importance of reinsurance is reflected in the costs insurers are willing to pay to acquire reinsurance protection and the fact that without adequate protection the insurance companies might not be licensed to do business. The purpose of this work is to enhance the reader’s understanding on the various contribution of reinsurance business to the economy. Methodology: A desktop literature review was used for this purpose. Relevant journal articles for the study were identified using search engines such as Google Scholar, Google Books, Semantic Scholar, Science.gov and Research Gate. The studies included in the study were note that were less than ten years old. Findings: From the findings, researchers have shown that without the guarantee of reinsurance, most businesses could not operate as they do today, and construction projects could not go forward. Recommendations: This study recommended that insurance firms should seek for re-insurance as it provides for protection against the potential large accumulations of individual losses that can result from catastrophic events. Insurance firms should also seek for reinsurance as an effort to restrict the loss to their balance sheets, and in that sense, helps them to stay solvent. Other firms should also be insured in firms that have undertaken reinsurance in order to add stability to the firms by evening out the results of the insurance companies as they continue to absorb the impact of large losses which would have led to very damaging results to the individual insurance companies. Moreover, insurance firms should consider regional reinsurance so that in case of a national catastrophe, the foreign firms can be in a position to compensate.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Contribution of Reinsurance Business to the Economy

Kajwang¹

2022

IJECOP

View full text Add to dashboard Cite

show abstract

“…At present, the role of insurance in underpinning infrastructure construction and operation is limited. For example, in the United States between 2009 and 2018 only around 30% of losses related to transportation infrastructure from catastrophes were insured (Tonn et al 2021). The percentage is likely to be much lower in developing countries.…”

Section: Insurance Availability and Financial Contagionmentioning

confidence: 99%

A System-Wide Approach For Infrastructure Resilience

2021

View full text Add to dashboard Cite

show abstract

“…Transportation infrastructure mainly includes highway and railway transportation infrastructures. Farmers' income is divided into wage income, operating income, transfer income and property income, and wage income and operating income are most closely related to transportation infrastructure (Tonn et al, 2021). The application value of the conclusion obtained from the rough investigation is low.…”

Section: Introductionmentioning

confidence: 99%

Assessing the Impact of Transportation Infrastructure on Rural Residents' Income: Using the Quantile Regression Approach

2022

J. Rev. Global Econ.

View full text Add to dashboard Cite

The impact of transportation infrastructure on farmers’ income has been the focus of attention by government managers and related scholars in recent years. Based on the panel data from 2000 to 2018, this paper uses the quantile regression model to explore the effect of highway and railway transportation infrastructures on wage income and operating income. The findings show that the highway transportation infrastructure makes a minimal contribution to the wage income in Shanghai, Beijing and Zhejiang provinces, because the highway mileage and highway passenger turnover in these provinces are small. However, the operating income in the upper 90th quantile provinces such as Jilin, Heilongjiang, and Zhejiang, receives the biggest impact from the highway transportation infrastructure, because the construction of rural roads in these provinces is growing faster. The impact of railway transportation infrastructure on the wage income in the 10th-25th, 25th-50th and 50th-75th quantile provinces is small, since their railway passenger turnover is less. The railway transportation infrastructure has not played a role in boosting the operating income in these provinces such as Guizhou, Shaanxi, Gansu, Shanxi, Qinghai, and Ningxia. Therefore, each quantile province should formulate specific policies to promote the construction of transportation infrastructure.

show abstract

U.S. transportation infrastructure resilience: Influences of insurance, incentives, and public assistance

Cited by 42 publications

References 20 publications

Contribution of Reinsurance Business to the Economy

Contribution of Reinsurance Business to the Economy

A System-Wide Approach For Infrastructure Resilience

Assessing the Impact of Transportation Infrastructure on Rural Residents' Income: Using the Quantile Regression Approach

Contact Info

Product

Resources

About