Securitizing the Risks of Climate Change: Institutional Innovations in the Insurance of Catastrophic Risk
(1998) In Interim Report- Abstract
- The present vulnerability of regions, communities and activities, to changes in the
frequency, intensity and distribution of extreme meteorological conditions presents a
problem that may be complicated by climate change. Society has many different ways
of responding to catastrophic risks and distributing the financial losses. This paper
contrasts different approaches on grounds of efficiency and equity. The main focus is on
securitization: a new mechanism for spreading risks that is of interest to insurance
companies to assure the supply of adequate financial capacity, and also to governments
as the insurers of last resort. The 1997 flood in Poland that amounted to a cost of 3%... (More) - The present vulnerability of regions, communities and activities, to changes in the
frequency, intensity and distribution of extreme meteorological conditions presents a
problem that may be complicated by climate change. Society has many different ways
of responding to catastrophic risks and distributing the financial losses. This paper
contrasts different approaches on grounds of efficiency and equity. The main focus is on
securitization: a new mechanism for spreading risks that is of interest to insurance
companies to assure the supply of adequate financial capacity, and also to governments
as the insurers of last resort. The 1997 flood in Poland that amounted to a cost of 3% of
GDP is analysed, and securitization is proposed as a possible alternative to traditional
insurance for ex ante coverage of the risk. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/533784
- author
- Stripple, Johannes LU
- organization
- publishing date
- 1998
- type
- Book/Report
- publication status
- published
- subject
- keywords
- Internationell politik
- in
- Interim Report
- publisher
- International Institute for Applied Systems Analysis
- language
- English
- LU publication?
- yes
- id
- d1fed1af-47af-45b4-950e-dc554b0aefbf (old id 533784)
- alternative location
- http://www.iiasa.ac.at/Publications/Documents/IR-98-098.pdf
- date added to LUP
- 2016-04-04 11:15:00
- date last changed
- 2018-11-21 21:03:38
@techreport{d1fed1af-47af-45b4-950e-dc554b0aefbf,
abstract = {{The present vulnerability of regions, communities and activities, to changes in the<br/><br>
frequency, intensity and distribution of extreme meteorological conditions presents a<br/><br>
problem that may be complicated by climate change. Society has many different ways<br/><br>
of responding to catastrophic risks and distributing the financial losses. This paper<br/><br>
contrasts different approaches on grounds of efficiency and equity. The main focus is on<br/><br>
securitization: a new mechanism for spreading risks that is of interest to insurance<br/><br>
companies to assure the supply of adequate financial capacity, and also to governments<br/><br>
as the insurers of last resort. The 1997 flood in Poland that amounted to a cost of 3% of<br/><br>
GDP is analysed, and securitization is proposed as a possible alternative to traditional<br/><br>
insurance for ex ante coverage of the risk.}},
author = {{Stripple, Johannes}},
institution = {{International Institute for Applied Systems Analysis}},
keywords = {{Internationell politik}},
language = {{eng}},
series = {{Interim Report}},
title = {{Securitizing the Risks of Climate Change: Institutional Innovations in the Insurance of Catastrophic Risk}},
url = {{http://www.iiasa.ac.at/Publications/Documents/IR-98-098.pdf}},
year = {{1998}},
}