| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12821 |
| 来源ID | Working Paper 12821 |
| Climate Change, Insurability of Large-scale Disasters and the Emerging Liability Challenge | |
| Howard C. Kunreuther; Erwann O. Michel-Kerjan | |
| 发表日期 | 2007-01-11 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper focuses on the interaction between uncertainty and insurability in the context of some of the risks associated with climate change. It discusses the evolution of insured losses due to weather-related disasters over the past decade, and the key drivers of the sharp increases in both economic and insured catastrophe losses over the past 20 years. In particular we examine the impact of development in hazard-prone areas and of global warming on the potential for catastrophic losses in the future. In this context we discuss the implications for insurance risk capital and the capacity of the insurance industry to handle large-scale events. A key question that needs to be addressed is the factors that determine the insurability of a risk and the extent of coverage offered by the private sector to provide protection against extreme events where there is significant uncertainty surrounding the probability and consequences of a catastrophic loss. We discuss the concepts of insurability by focusing on coverage for natural hazards, such as earthquakes, hurricanes and floods. The paper also focuses on the liability issues associated with global climate change, and possible implications for insurers (including D&O), given the difficulty in identifying potential defendants, tracing harm to their actions and apportioning damages among them. The paper concludes by suggesting ways that insurers can help mitigate future damages from global climate change by providing premium reductions and rate credits to companies investing in risk-reducing measures. |
| 主题 | Public Economics ; Taxation ; Subnational Fiscal Issues ; Other ; Law and Economics |
| URL | https://www.nber.org/papers/w12821 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570486 |
| 推荐引用方式 GB/T 7714 | Howard C. Kunreuther,Erwann O. Michel-Kerjan. Climate Change, Insurability of Large-scale Disasters and the Emerging Liability Challenge. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12821.pdf（203KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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