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Modeling Flood Perils and Flood Insurance Program in Taiwan AgEcon
Chang, Ching-Cheng; Hsu, Wenko; Su, Ming-Daw.
Taiwan had approximately 3,000 buildings damaged by floods with an economic loss of NT$12.8 billion annually, a figure 4.5 times more than economic losses due to fire damages. Many insurers become extremely cautious when underwriting their flood policies for people living in areas that are frequently struck by floods. The rising damages also trigger the demand for a mandatory national flood insurance program. This paper describes the development of an integrated flood risk assessment model for Taiwan which contains of a hazard, vulnerability and financial analysis module. We take the perspective that the mandatory program will be provided to fire policyholders as part of building and content insurance to mitigate the financial losses. The issue of a...
Tipo: Conference Paper or Presentation Palavras-chave: Risk Assessment; Typhoon; Flood Insurance; Financial Analysis; Resource /Energy Economics and Policy; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/6141
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EFFICIENCY OF WIND INDEXED TYPHOON INSURANCE FOR RICE AgEcon
Banerjee, Chirantan; Berg, Ernst.
Index-based weather insurances are innovative tools for mitigating weather risks in agriculture. Several donor agencies and development organisations are investing substantially to propagate these programmes in developing countries. However, often due to high basis risks, these products mitigate risk only through diversification effect, thereby defeating the intended purpose. Besides, they send confusing messages to the farmers regarding the very concept of insurance. Therefore, this paper investigates the efficiency of two such index-based weather insurances in Philippines, designed to mitigate rice yield loss caused by strong typhoon winds. The insurance products are designed assuming negative linear correlation between wind speed and rice yield. To...
Tipo: Conference Paper or Presentation Palavras-chave: Basis risk; Typhoon; Index-based Insurance; Crop Production/Industries; Risk and Uncertainty.
Ano: 2011 URL: http://purl.umn.edu/114240
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