Effective Structure of Reinsurance Function for Disaster Risk in the Asia-Oceania Region
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Nobuhiro Kato
Abstract
In the Asia-Oceania region with its vulnerable infrastructure, people continue to suffer from natural disasters such as earthquakes, cyclones or floods. In order to construct resilient society, the risk control for prevention-reduction of disasters and the risk finance for restoration and revival is indispensable. This article shows the necessity of building reinsurance functions which enables the underwriting of natural disasters in this area and arrangements of its requirements and conditions. The improvement of infrastructure for natural disaster and the alleviating of poverty are the premises of these issues and have close relations with developing financial markets and diversifying financial-insurance measures. This article shines light on the integrated framework of these factors and the methodology. Ensuring resilience against natural disaster must be shared objectives among the countries in this region with low insurance diffusion and multifarious backgrounds of economy, society and culture. The regional partnership and the support of the global community should play an important role for ensuring resilience. Building the reinsurance function of natural disasters in this region follows the same path with the realization of “Principles for Sustainable Insurance”.
Acknowledgments
I would like to express thanks to professor (Kwansei Gakuin University) Yoshitaka Kai and professor (Kwansei Gakuin University) Yuji Maeda who offered me valuable comments and suggestions.
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©2016 by De Gruyter
Articles in the same Issue
- Frontmatter
- Featured Articles
- Forecasting Mortality using Imputed Data: The Case of Taiwan
- On the Bayesian Risk Evaluation of Minimum Guarantees in Variable Annuities
- On the Use of Long-Term Risk Measures as an Approach to Communicating Risks
- Effective Structure of Reinsurance Function for Disaster Risk in the Asia-Oceania Region
- Forecasting Thai Mortality by Using the Lee-Carter Model
- Long-Term Care: Is There Crowding Out of Informal Care, Private Insurance as Well as Saving?
Articles in the same Issue
- Frontmatter
- Featured Articles
- Forecasting Mortality using Imputed Data: The Case of Taiwan
- On the Bayesian Risk Evaluation of Minimum Guarantees in Variable Annuities
- On the Use of Long-Term Risk Measures as an Approach to Communicating Risks
- Effective Structure of Reinsurance Function for Disaster Risk in the Asia-Oceania Region
- Forecasting Thai Mortality by Using the Lee-Carter Model
- Long-Term Care: Is There Crowding Out of Informal Care, Private Insurance as Well as Saving?
