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Erschienen in:
Catastrophe Models for Informing Risk Management Policy: An Introduction Kapitel lesen Erstes Kapitel lesen

2013 | OriginalPaper | Buchkapitel

3. Modeling Catastrophe Risk for Designing Insurance Systems

verfasst von : Tatiana Ermolieva, Yuri Ermoliev

Erschienen in: Integrated Catastrophe Risk Modeling

Verlag: Springer Netherlands

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Abstract

In catastrophe management, risk spreading is one of the important measures for increasing societal resilience to disasters. In this paper we discuss an integrated catastrophe management model which explores alternative risk spreading options. As a case study we consider the seismic prone Tuscany region of Italy. Special attention is given to the evaluation of a public loss-spreading program involving partial compensation to victims by the central government and the spreading of risks through a pool of insurers on the basis of location-specific exposures. GIS-based catastrophe models and stochastic optimization methods are used to guide policy analysis with respect to location-specific risk exposures. The use of economically sound risk indicators lead to convex stochastic optimization problems strongly connected with nonconvex insolvency constraint and Conditional Value-at-Risk (CVaR).

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Vorheriges Kapitel Modeling Risk and Uncertainty: Managing Flash Flood Risk in Vienna
Nächstes Kapitel Multiple Criteria Decision Making for Flood Risk Management
Fußnoten
1
The chapter is a modified version of a previous paper, which is reprinted with permission of the Society for Industrial and Applied Mathematics “Copyright (c) 2005 Society for Industrial and Applied Mathematics. All rights reserved.”
 
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Metadaten
Titel
Modeling Catastrophe Risk for Designing Insurance Systems
verfasst von
Tatiana Ermolieva
Yuri Ermoliev
Copyright-Jahr
2013
Verlag
Springer Netherlands
Buch
Integrated Catastrophe Risk Modeling

Print ISBN: 978-94-007-2225-5

Electronic ISBN: 978-94-007-2226-2

Copyright-Jahr: 2013

DOI
https://doi.org/10.1007/978-94-007-2226-2_3

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